Bitcoin Forum

for at least 24h or 48 ours

Why?

Free market should be allowed to correct itself.

Or if price doubled in short time maybe we should halt trading too?

Freezing is the worst thing they could have possibly done.
Anyone got the charts from last time they froze or even the infamous "rollback"?

BB.

yes, it should stop
TECHNICAL GLITCHES and FLAT OUT MARKET MANIPULATION (.001btc orders), and adding UNFUNDED ORDERS. etc
is NOT FREE MARKET. it's MANIPULATION.....................

just to be clear. technical glitches, abuse, DDOS all that stuff is NOT FREE MARKET. don't be calling it what it's not.

I agree freezing is the worst thing, though trading had essentially frozen anyway

@superduh

1. Such "glitches" should not exist.
2. If they occur, people should know better than to trade during them.
3. Solving one manipulation with a further manipulation is like shooting the second leg after the first.
4. People should still be free to take their chances if they so wish.
5. Otherwise, such policies of "freezing" should be clearly formalised and documented BEFORE such events.


BB.

You are fully free to choose a market place that doesn't not suck. Or not use any market place at all and instead do it straight...

people were unable to change their orders during the lag. how is that free market?
mtgoxs platform is horrid. if they don't freeze and take care of things things will go to hell a lot faster.
they are at the moment the cause of many problems

+1

Because everyone knows that Mt. Gox is a shithouse and chooses to take that risk when they trade with them. As ever - dont like it? Leave! But don't try to insist that others must do the same.

BB.

There is one guy here on this forum living a few streets from Gox.

An eyewitness confirmation that they are not leaving would be nice.

free market my ass..................
i'm being realistic. as of now everything regarding bitcoins is tied to gox.
will this change? i hope so. but, it hasn't yet.
people are free to do whatever the want. no doubt.
however, blatant manipulation is horrible and will have horrible consequences.
it's better to have people be able to adjust than have orders be executed hours later

God help you if you ever find #otc

No it isn't. All the time Gox tries to wipe people's asses so they don't get nappy rash from the risks they took on what they know to be an unstable system, it perpetuates this stupid culture where everyone demands to be saved from their losses.

This is bitcoin; you have no warranty and no service level agreement.


BB.

balderdash

the exchanges that can handle the server load (camp bx, bct-e, perhaps others) are already trending back up into the 80s or 90s

Blatant price manipulation has been going on for months, if not longer.  If you run Slush's Sierrachartfeed app that you can find on the forum, these very small trades trying to manipulate prices up or down happen often.

The problem is the inability of the platform to handle the volume, not from people trying to manipulate the market.  If Bitcoin can't survive those attempts, it is doomed to failure for sure.

Freezing is worse than anything else.

I wouldn't mind a 75% drop. Hell, after the crazy few weeks, a 90% could be healthy.
But a freeze... This leaves a really bad impression.

Just bought for $64 at cavirtex. Great success

@fredi173
@superduh

What do you think is going to happen, the second that Gox is re-activated?


BB.

why? so you can buy from all the newbies who panic sold for your own personal gain?

freeze doesn't leave a bad impression it says: our software is SHIT and we are taking time to make sure that our shit software stops messing everything up. how is this not better. the problem is not the prices it's the website! just one website.

We are lucky "fredi" is here to order us what to do  :o

How about those that want to halt trading, do so themselves and leave everyone else to make their own decisions?


BB.

While I was paying attention to the price chart, this message popped up:

I cannot believe Mt. Gox halted trades. How is Bitcoin supposed to be a free market, if it is not allowed to correct itself?

I disagree with this action and think they should immediately resume orders. Mt Gox is not the SEC.

http://imageshack.us/a/img267/3610/49442831.png

Going to that link:

http://imageshack.us/a/img855/30/67316995.png

I wonder if "Tarding" was intentional.

You shouldn't be out of the newbie section.

There are other markets out there to trade.  Just because one shut down doesn't mean the market won't correct or that it is not a free market. 

Thankfully MtGox is not the SEC :-)

This is the worst thing Gox has done so far i think, i seriously hope this completely kills the exchange in the near future. They don't deserve to be an exchange for a free-market currency.

I am assuming you say this because the price has halved over few days. Why didn't you say anything when the price doubled over few days?

Yeah let's do it Stalin's way!

Fredi,
       Stock exchanges have preset conditions which trigger a trading halt.  These conditions are well documented and known by all market participants, so it is fair to everyone.

Declaring an arbitrary trading halt can seriously damage some traders / strategies, while unfairly benefiting other strategies.

That's why we have kept CampBX trading platform open.

- Keyur

You speak with your wallet by moving to a different exchange.  That's how it's free market. 

Halts in trading only work when the underlying product is only traded on one exchange.

Thats why the NYSE or Nasdaq can halt a single stock as it isn't traded elsewhere. If it's traded elsewhere than participants on other platforms get to trade whilst the closed exchange's customer suffer. Thats why you cannot halt trading in Forex or gold for example, they are traded in too many places.