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> Spoofed trades are obviously non-economic. In a model where Bitcoin is the only available currency, you could certainly assign an economic value to a mixer -

> Spoofed trades are obviously non-economic. In a model where Bitcoin is the only available currency, you could certainly assign an economic value to a mixer - the value of the created privacy (yes, I know that mixers are flawed). There are also cryptocurrencies that have (a higher level of) built-in privacy, like ZCash, and that people are using it should also be an indicator that there is economic value in those transactions since the only real reason to use ZCash is to get that additional bit of privacy.

frgtpsswrdlame 8y ago
>In a model where Bitcoin is the only available currency, you could certainly assign an economic value to a mixer - the value of the created privacy (yes, I know that mixers are flawed). Are mixers spoofing? Here, consider a market with three people: A, B, C all with 100 BTC. At 12:01 A sells 50 shares to B. Starting at 12:01 and going until 12:00 B and C sell 1 share back and forth, one transaction per minute. So after 24 hours they have: A - 50 B - 150 C - 100 Is the 'true' trading volume for the day 50 or is it 1490? It's a matter of perspective but Elementus views that 50 as an important number that investors should have. I agree that using the term 'economic' is dumb but investors want to understand the actual dynamics of buyers and sellers in the market, not the dynamics of ultra-noisy zero-netting mixers.