Yah I thought it was weird which is why I remembered reading it. I can't find jack about it in their terms page though. Maybe they have changed things.
Yeah I didn't see the big red WARNING when I signed up..
It is a free, unregulated market after all..
But in all honesty a fair exchange coded well should make it so that even if you place the order at below or above asking prices it should make the trade go through the wall.
Because for all sakes and purposes I can jam a 1UFO buy for 10,000 Satoshi and make this coin hit the top 10 briefly. not even briefly, infact if I carry on jamming those orders in immedietly after anyone buys up the low 6-10 satoshi's I can keep it there the whole day until some serious volume kicks in.
It's pretty funny to say the least.. I mean I am sure atleast one or two more people are interested in this coin jsut from that handful of 1 UFO buys I put in at 100 satoshi.
*Disclaimer* I have stopped now.. But was a very interesting experiment for me non the less.
-PC
There was this time a few weeks ago when somebody dumped a few million dollar worth of BTC on BTC-e taking the BTC price down to UD$102 for a few minutes. It's the same thing. Even if you buy just 1 UFO you're paying a huge premium for this to happen and somebody is making a huge profit.
What I don't understand is doesn't the software supposed to fill all the orders before the 10,000 Satoshi?