Re:The Blockchain Is a Dark Forest
by RandomLensman on Sunday March 21, 2021 @02:28PM
(#26532647)
I think that is too simplistic. For example, in a CLOB market putting something in the order book is visible and depending on price and volume will not just execute in one go and therefore cause change. But it is a market reaction to a published intend to trade.
Issues around market microstructure, liquidity etc are very well researched.
[ Parent
| on HN ]
You do not understand me. Reactions to an order make sense. But if I click "Buy", and before the order hits the book, the software vendor that is processing my order notifies a market maker to increase their price in order to make me pay slightly more, this would be unfair ("front running").