Post
Topic
Board Bitcoin Discussion
Re: Mt.Gox scares people
by
Leon
on 17/07/2011, 07:13:43 UTC
The way that Mt. Gox is set up makes people buy and sell faster. If you keep a constant eye on it, wanting to see when you should sell or buy, you will.

They have made it so that they get much more traffic than needed. They have digits down to the fifth decimal point. When prices change, it looks like a big change (like 13.52470 to 13.34410). I'm not talking about the big transactions, but most of the ones I see are less than a dozen. And when you are trading a small amount of coins, it's hardly any difference in price. But the numbers look bigger because of so many decimal places and people panic or get really excited and buy or sell right away.

Is this true? I know that's what happens in my mind as I watch Mt.Gox Live

You honestly think this scares people? It isn't even mtgox's fault in the first place that they have 8 decimals, what are they gonna do, cut them out? That is senseless.