Before computers, its not like people just waited until they got a price match to make a trade. Human market makers sat in the middle making money the exact same way computers do. Except they weren't as efficient, fast, or smart, so they had to charge higher spreads to compensate.
Are you a trader that likes paying low spreads? Then you probably like the market better now. Are you a trader that loves getting paid high spreads? Then you are probably writing articles about why HFT should be banned.
Before computers, its not like people just waited until they got a price match to make a trade. Human market makers sat in the middle making money the exact same way computers do. Except they weren't as efficient, fast, or smart, so they had to charge higher spreads to compensate.
Are you a trader that likes paying low spreads? Then you probably like the market better now. Are you a trader that loves getting paid high spreads? Then you are probably writing articles about why HFT should be banned.