Bitcoin Forum

This was headed down well before any lag.....Gox simply cannot handle sell-offs. It jams up their system. The lag helps stem the sell-off, in fact; it doesn't make it worse. It acts as a circuit breaker. The lag slows the sell-off and then gives them something to blame the correction on.

No, of course not. The top three USD exchanges plus bitcointalk all going down at the same time was just a coinkidink  ;)

Thats silly.. they cant handle a sell off true.. but its the volatile people responding to it as a crash, or selling because it hit the daily peak trying to get out and let the panic take hold.. then there is mass sell, then the lag grows, and people start responding to mass panic,causing more lag and more sells.   too many of these little incidents will eventually hurt us for real if gox doesnt do something to prevent this.... provided it isnt on purpose

Even if this is a DDoS (or simply increased traffic due to panic), it is not the cause of this correction. This lag is actually stemming the panic selling, not creating it. If there wasn't a lag, the selling would bring this down much farther, much faster. Why do you think NYSE has a circuit breaker and trading curbs?

Yeah its called a DDoS of SELLERs.   All the noobs trying for the exit at the same time.  Xchanges can't scale fast enough.  

Bad for BTC.   This poop of not being ready for scale hits us over and over.    You'd think the guys at gox would have had plenty of time to triple or quadruple server capacity in the last few months, you know with $10k/day of revenue pouring in.

"Even if" ? Thanks for outing yourself. Bye.

It is (still...) totally a DDoS.

The exchanges, every source of information, this forum.

C'mon, Manticore.  Blame them for not suspending trading (which is what should happen) if you like.  But this is almost certainly the result of a botnet or two being hired to coordinate this shit.  You have to know that's true.

It'll go away after whoever did this has their profit from the noobs.  Me. I've got a three-minute lag just to open one thread here, so later.

Whats the price right now? I'm having difficulty finding out.

Also, given the situation, no funny business please :-P

that doesn't quite explain bitcointalk getting hit as well as the bitcoincharts.com 502 error. Those sites should've been hit just as hard by speculators during yesterday's rally as they are today.

I recommend you read this, incidentally posted today hours before the crash, called Bitcoin Should Get Ready for an Attack: http://lewrockwell.com/rosenberg/rosenberg-p14.1.html

Or, simpler, as the price drop tons of people rush on the exchanges and on the forum and this create lag.

I don't care; my limit orders were waiting for this, and I am now a happy owner of few more coins bought cheaply.

I've had 502 errors on Bitcoincharts.com every single day this week.

This could just as easily be thousands of people going to all these sites because they can't get information. Gox lags out so they go to Bitstamp, etc etc. We know that Gox can't handle very much traffic because they lag out every single day. With BTC falling, you can rest assured every BTC owner is going en masse to all of these sites.

Not a chance in hell.

Coordinated DDoS.

You can blame the DDoS for the lag but not the correction, which would've happened regardless. To blame this correction on the lag/DDoS is ridiculous because that would be saying that half the worth of a currency can be destroyed simply because people have a tough time logging into their forex account. If my equities platform lagged out I would be highly annoyed, but it would not destroy the stock market and force me to liquidate. This thing was headed down well before and independent of this lag....

If this was a DDoS attack, how can that cripple a multibillion dollar market this easily? If it can, then this market is overvalued because there is an extreme level of systematic risk. Is bitcoin (by way of its service providers) really so fragile that it gets cut in half in the blink of an eye simply because Gox lags out massively? That's even scarier than a natural panic sell-off and subsequent lag after a meteoric rise. On the NYSE, they have circuit breakers that halt trading intentionally because that quells panic (which is what I think this lag does, contrary to what most of you think). If anything, a DDoS would prevent the sell-off from being as deep and as fast as it would have been.

If one can truly blame this on an attack, then bitcoin needs Wall Street help (I hate to say it). What's worse, a currency that has a deep and natural sell-off (like this, IMO) or a currency that can be completely wrecked by a hacker? I opt for natural sell-off.....because otherwise we need a very strong and experienced organization (e.g., Goldman et al.) to step in and provide a platform.

Why are you still here? Oh yeah, for the only reason you were ever here.

Yeah,not to mention some of the charts so others can't see it.

bitcointalk never went down for me, just got laggy at times. probably due to the all time high users online:
 Most Online:   7150 - Today at 11:12:15 AM

As I've posted previously, a correction occurs every day at about 10 AM ET along with a huge lag. You can see them in the charts. When the exchanges figure out how to eliminate the DDOS threat, then the 10 AM drops will go away and the market can correct without outside help.

As I said, no DDoS.....


https://bitcointalk.org/index.php?topic=172944.0

Yes, there is a chance in hell.

https://i.imgur.com/umRmL7b.png

https://i.imgur.com/7d04dru.jpg

A DDOS. There's no reason to do trades like that.

I show similar strange buys.

https://bitcointalk.org/index.php?topic=172540

This is not a DDoS. They should easily be able to handle these trades.

These are the tiny buys that support the bid/ask that I've discussed on other threads. These always occur during every sell-off. They usually transact much higher than the sells and the bid/ask somehow pops back up to the level of these tiny sells in spite of 100s of coins being dumped much lower. It's bizarre. If these are causing the lag, then they do it to stem panic selling (and not the other way around like everyone's thinking).

Mt. Gox needs to consolidate all identical buy orders into one order at the time the order is being placed. There's no reason those shouldn't be lumped into one order @ $167 unless they're using multiple accounts. Limiting the amount of orders to 1 per minute or something like that would also help too.