MtGox is one of the biggest and most well known. As I understand each exchange basically sets there own price - but if one exchange lowers there buy price (they buy bitcoins for less dollars) then the others can do too?
This is great for MtGox, all buy transactions pending just lost a $100 of the cost to fulfil. Surely then they wait for the bottom, initiate all transactions possible.
Price rises and they can take in more dollars per bitcoin sold, speculating, that may be all that enables them to actually deposit the amounts on the transactions they "fulfilled" in order to make the price bounce.
When you freeze billions of assets markets react. People can't move their Gox btc out, they can't cash out, so a double digit percentage of the market just froze.
This is great for MtGox, all buy transactions pending just lost a $100 of the cost to fulfil. Surely then they wait for the bottom, initiate all transactions possible.
Price rises and they can take in more dollars per bitcoin sold, speculating, that may be all that enables them to actually deposit the amounts on the transactions they "fulfilled" in order to make the price bounce.
Crazy business.