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Title: Volumes gone? Post by: fabianhjr on June 19, 2011, 05:44:57 PM Just looked at MtGox after their record volume today.
All bids are gone?! D: TH now has more bids and at a higher rate. Someone dropped a lot of coins. Title: Re: Volumes gone? Post by: lumberjack4 on June 19, 2011, 05:48:11 PM Looks like someone just dumped ~100K BTC on the market...
Title: Re: Volumes gone? Post by: lumberjack4 on June 19, 2011, 05:51:38 PM Make that 200K and counting. This is stupid...
Title: Re: Volumes gone? Post by: xanatos on June 19, 2011, 05:52:00 PM We are all poor! :-)
Title: Re: Volumes gone? Post by: muyoso on June 19, 2011, 05:53:02 PM A low of 4 today? Jesus why couldn't it have stayed for more than a few minutes?
Title: Re: Volumes gone? Post by: lumberjack4 on June 19, 2011, 05:54:00 PM Gox must have been hacked... It's BTC's flash crash.
Title: Re: Volumes gone? Post by: Gabi on June 19, 2011, 05:54:10 PM 1$...
Title: Re: Volumes gone? Post by: fabianhjr on June 19, 2011, 05:54:52 PM It reached 0.01 cent. Who is the lucky one that got that?
Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 05:55:04 PM Tight your belts gentlements ...
Title: Re: Volumes gone? Post by: Gabi on June 19, 2011, 05:55:40 PM It says 15$ now
Title: Re: Volumes gone? Post by: enmaku on June 19, 2011, 05:56:12 PM While the market depth chart is kind of freaky and cool to look at over on Mt. Gox, the market typically does see a drastic decrease of buyers over the weekend. In many areas it's quite difficult to get banks to move money on the weekends, so there aren't as many bids and once they're gone they take time to come back. Also keep in mind that Mt. Gox doesn't show the full volume on their charts/data, they only show buy/sell orders within a certain percentage of the most recent sale price, so there are likely buy orders down in the $10 range that, even though there is a $10 gridline on the chart, won't be shown because they are out of range for Mt Gox's chart-generating algorithm.
I'm not terribly worried, we might get to see another scary weekend low but as long as things manage not to crash completely before Monday or Tuesday we'll see the usual return to normal market volatility after the typically volatile weekend :) Title: Re: Volumes gone? Post by: sir murray on June 19, 2011, 05:56:43 PM Wow! Wish I had bought a lot of BTC while it was so cheap, it's back at 15 usd.
Title: Re: Volumes gone? Post by: fabianhjr on June 19, 2011, 05:57:26 PM Yeah, more people came to buy. Though I still don't know who was the lucky bastard that got coins for 1 cent. D:
Title: Re: Volumes gone? Post by: tsvekric on June 19, 2011, 05:59:13 PM um someone just bought EVERY bid, including thousands of bitcoins for pennies. The volume went from tens of thousands to over half a million. From that list of 'largest wallets' NO ONE had half a million BTC. I highly doubt someone had that much and sold it all down to nothing. Something went wrong. I wouldn't trust any sale on MtGox until we hear from them.
Title: Re: Volumes gone? Post by: hypsterj on June 19, 2011, 06:00:19 PM I am unable to place any buy orders. I suspect Mt.Gox has been hacked or it's bugging out.
Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 06:01:27 PM I am remembering some strange "high volume snake pattern transactions" not so long ago.
Looks like there is some connection. Title: Re: Volumes gone? Post by: fabianhjr on June 19, 2011, 06:05:11 PM I am unable to place any buy orders. I suspect Mt.Gox has been hacked or it's bugging out. Can anybody confirm? Title: Re: Volumes gone? Post by: dev^ on June 19, 2011, 06:06:04 PM Someone sold 263K BTC.
Title: Re: Volumes gone? Post by: warsmith on June 19, 2011, 06:06:38 PM Someone dumped around 300k bitcoins for 0.01$. Awesome.
Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 06:09:42 PM Well, should we start to panick ?
Title: Re: Volumes gone? Post by: grue on June 19, 2011, 06:09:58 PM MTGOX HAXED?
i mean, who will sell that much bitcoins? Title: Re: Volumes gone? Post by: warsmith on June 19, 2011, 06:13:25 PM Well, should we start to panick ? that's never a good solution MTGOX HAXED? i mean, who will sell that much bitcoins? more likely an early adopter got his wallet taken over. Title: Re: Volumes gone? Post by: kokojie on June 19, 2011, 06:13:50 PM yep, mtgox was probably hacked, someone sold all BTC from everyone that had them in their mtgox account
Title: Re: Volumes gone? Post by: kokojie on June 19, 2011, 06:14:44 PM Well, should we start to panick ? that's never a good solution MTGOX HAXED? i mean, who will sell that much bitcoins? more likely an early adopter got his wallet taken over. No early adopter has 1M+ btc Title: Re: Volumes gone? Post by: dev^ on June 19, 2011, 06:16:30 PM yep, mtgox was probably hacked, someone sold all BTC from everyone that had them in their mtgox account I think it is definitly related to the recently stolen wallet.dat. Just look at row 477 here: (Transaction log) https://rapidshare.com/files/2169342491/history.txt (don't worry about security, it's just a .txt) Title: Re: Volumes gone? Post by: Gameover on June 19, 2011, 06:18:46 PM yep, mtgox was probably hacked, someone sold all BTC from everyone that had them in their mtgox account FALSE, if that were true you would already see 100 posts about people seeing there are 0 BTC in their accounts. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:19:58 PM I believe MtGox should offer an explanation, even if it's something as simple as "we were not hacked, someone is just playing the market like a fiddle" :-)
Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 06:21:38 PM We know some rude guesses on this matter, and no one of this guesses is not anyhow good.
Some of them just catastrophic, other not so catastrophic, but still not pleasant. Well, lets see how it will be - very bad or just bad. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:23:46 PM Why don't you all check your MtGox accounts and report back?
Title: Re: Volumes gone? Post by: demonofelru on June 19, 2011, 06:26:33 PM Why don't you all check your MtGox accounts and report back? I would but it's down at least for me. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:27:40 PM Right now, MtGox seems to be down... Was it hacked, is there a rush on account checking or is this a DDos related to the ton of bitcoin that were unloaded earlier?
Title: Re: Volumes gone? Post by: hypsterj on June 19, 2011, 06:28:24 PM I placed half a dozen orders between .01 and 13. Naturally, Mt.Gox processes only the buy at 13. ::)
For 1.2% a trade I expect the infrastructure not to suck quite so bad. Tommy just sold a half a million Bitcoins! Looks like Mt.Gox is now down. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:30:16 PM Maybe MagicalTux took it down to analyze the situation and prevent future issues (technical/psychological etc.)
Title: Re: Volumes gone? Post by: demonofelru on June 19, 2011, 06:32:15 PM Maybe MagicalTux took it down to analyze the situation and prevent future issues (technical/psychological etc.) Most likely that is what happened IMO. Title: Re: Volumes gone? Post by: hypsterj on June 19, 2011, 06:39:10 PM I don't think anyone has enough btc, legit or stolen, to do this all on their own. Maybe someone had enough to crash through the stop loss prices of some of the bigger algo traders? Mostly just speculation at this point.
Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:39:37 PM Well, at least we know ;D he's working on it.
A couple more incidents like this, and both MtGox and Bitcoin will go down in flames :'( I wonder how much negative media coverage this incident will get tomorrow... Title: Re: Volumes gone? Post by: hypsterj on June 19, 2011, 06:45:31 PM TradeHill seems to be touch and go at the moment as well. Probably just load issues though.
Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 06:48:08 PM Maybe Satoshi just unloaded his wallet just to see what happens?
Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 07:11:45 PM https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback
Finaly - at least some statement. Well at least this not catastrophic scenario. Title: Re: Volumes gone? Post by: Oldminer on June 19, 2011, 07:17:41 PM Title: Re: Volumes gone? Post by: warsmith on June 19, 2011, 07:31:27 PM https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback Do you think the price will be <12$ when it comes back up?Finaly - at least some statement. Well at least this not catastrophic scenario. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 07:33:49 PM Well, this is sort of good news :D It proves that despite the limited resources, MagicalTux stays on top of things.
I wonder what happens to the $1000 the rightful account owner lost. Will he be reimbursed by MtGox? Title: Re: Volumes gone? Post by: hypsterj on June 19, 2011, 07:36:50 PM Well, this is sort of good news :D It proves that despite the limited resources, MagicalTux stays on top of things. I wonder what happens to the $1000 the rightful account owner lost. Will he be reimbursed by MtGox? Limited resources? By my math MagicalTux made ~$300k in the past month. Title: Re: Volumes gone? Post by: Dobrodav on June 19, 2011, 07:59:32 PM Will it be refunded or not, depends on details of the huck.
But it is powerfull blow to MtGox rep. I am even thinking about dirty competition trick. Well, i am always full with shitty ideas. Title: Re: Volumes gone? Post by: frutza on June 19, 2011, 10:43:07 PM I meant limited human resources ;) (one guy...) maybe part of the $300k (or whatever the amount is) can be used for better security?
Title: Re: Volumes gone? Post by: Gameover on June 20, 2011, 03:10:32 PM Well, this is sort of good news :D It proves that despite the limited resources, MagicalTux stays on top of things. I wonder what happens to the $1000 the rightful account owner lost. Will he be reimbursed by MtGox? It may not be as simple as this, if the maximum transfer is limited to $1000 and the price of bitcoins was down to $0.01, doesn't that mean you can send out 100,000 bitcoins? Which under normal markets would be worth $1M-$2M? Title: Re: Volumes gone? Post by: frutza on June 21, 2011, 09:02:22 PM Interesting point. Did anyone look for such a transfer(s) in the block chain?
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