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Title: How will this mtgox screw-up affect the price? Post by: kentrolla on July 21, 2012, 05:26:04 AM I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins :(
any thoughts? Title: Re: How will this mtgox screw-up effect the price? Post by: FreeMoney on July 21, 2012, 05:29:54 AM I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins :( any thoughts? Maybe it's weaklings driving this rally, but I'd think most of the big players know that this kind of crap happens with websites and that's why bitcoin is awesome. Maybe it will remind a big player that the big exchange can be overthrown pretty easily. Hopefully all the other exchanges get a little extra action out of this too. Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 05:34:28 AM it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading
Title: Re: How will this mtgox screw-up effect the price? Post by: smoothie on July 21, 2012, 05:42:54 AM it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading but to some of us time is money....delay = -money Title: Re: How will this mtgox screw-up effect the price? Post by: Hexadecibel on July 21, 2012, 05:47:36 AM What mt. gox screw-up?...
Title: Re: How will this mtgox screw-up effect the price? Post by: David M on July 21, 2012, 05:50:18 AM Unregulated exchange trading unregulated crytotokens operating a true 24 hour international market suffers computer glitch.
You may commence to panic at any time... Title: Re: How will this mtgox screw-up effect the price? Post by: Yuhfhrh on July 21, 2012, 05:50:49 AM What mt. gox screw-up?... Open clarkmoody lol :) Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 05:52:48 AM it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading but to some of us time is money....delay = -money what can you do? Title: Re: How will this mtgox screw-up effect the price? Post by: SgtSpike on July 21, 2012, 05:53:14 AM What mt. gox screw-up?... Open clarkmoody lol :) Title: Re: How will this mtgox screw-up effect the price? Post by: Yuhfhrh on July 21, 2012, 05:58:40 AM What mt. gox screw-up?... Open clarkmoody lol :) https://dl.dropbox.com/u/34538839/Screenshot_2012-07-21-00-54-59.jpg Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 05:58:46 AM Unregulated exchange trading unregulated crytotokens operating a true 24 hour international market suffers computer glitch. You may commence to panic at any time... while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges: https://www.google.com/search?hl=en&q=ny+stock+exchange+glitch https://www.google.com/search?hl=en&q=dow+jones+glitch Title: Re: How will this mtgox screw-up effect the price? Post by: David M on July 21, 2012, 06:01:55 AM while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges: This should be directed at the OP. Perhaps my sarcasm was too subtle... Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 06:02:28 AM any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins
Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 06:03:39 AM while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges: This should be directed at the OP. Perhaps my sarcasm was too subtle... my comment directed to whomever may decide to start panicking Title: Re: How will this mtgox screw-up effect the price? Post by: Bjork on July 21, 2012, 06:04:42 AM any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins put in a sell at market? i guess. My guess is Gox will be down for 5+hours at least... maybe 24+ Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 06:06:28 AM any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins put in a sell at market? i guess. My guess is Gox will be down for 5+hours at least... maybe 24+ That is if Tux is not in Poland right now and only him being able to access and fix live site from his Japan office Title: Re: How will this mtgox screw-up effect the price? Post by: Hexadecibel on July 21, 2012, 06:12:58 AM I remember the last time something like this happened someone had to call his phone and wake him up.
In fact I think I emailed them about that... ooo here it is Quote Hello, At approximately 23:00JST on June 23, 2012, trading became unavailable due to an invalid trade order which was not checked correctly by the Add Order API. The trading system however, detected this and halted itself to wait for further instructions, resulting in this outage. Trading is now back to normal. We apologize for the inconvenience our users have suffered because of this outage and would like to thank you for your patience through this issue. If you have any further questions regarding this matter, please do not hesitate to contact us. Title: Re: How will this mtgox screw-up effect the price? Post by: zhalox on July 21, 2012, 06:17:31 AM I think the reason Mt. Gox froze was because of huge buy orders for hundreds of thousands of dollars worth of bitcoins, and not because of sell orders - the price spiked up to $9.30+ as seen below:
https://i.imgur.com/S4bNt.png Title: Re: How will this mtgox screw-up effect the price? Post by: humanitee on July 21, 2012, 06:18:41 AM Am I reading that volume of 500k correctly? :o
Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 06:28:28 AM what happened to the price last time this happened?
Title: Re: How will this mtgox screw-up effect the price? Post by: copumpkin on July 21, 2012, 06:32:26 AM I thought this was the usual mtgox tripwire that freezes the trading engine when big orders hit it, but it turns out the trade engine is actually in a loop, relaying the same big transaction over and over again with new timestamps and new transaction IDs (if you run your own socket.io client, you can see this). The thing climbs from 8.79 to 9.30 (~30k btc) and then snaps back to 8.79 and does it again, over and over again.
A bit disturbing, as always. Title: Re: How will this mtgox screw-up effect the price? Post by: Bitcoin Oz on July 21, 2012, 06:35:21 AM Wow someone opened their warchest didnt they.
Title: Re: How will this mtgox screw-up effect the price? Post by: Serge on July 21, 2012, 06:35:39 AM later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand. 8)
Title: Re: How will this mtgox screw-up effect the price? Post by: smoothie on July 21, 2012, 06:40:47 AM later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand. 8) market will be volatile once trading resumes Pirate: Hey Mark, do you think you could halt all trading so I can buy all the bitcoins? Mark: Sure no problem, just do me one favor in return, since you will have all the bitcoins I would like to collect a 7% interest rate on top of all bitcoins you will have. Pirate: But there are no more bitcoins..... Mark: Too bad, sucks to be you. ;D ;D ;D Title: Re: How will this mtgox screw-up effect the price? Post by: zhalox on July 21, 2012, 06:53:08 AM Who knows, maybe bitcoin will spike to $15 or $20 next week lol ;D
Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 06:57:26 AM someone plz answer this question: what happened to the price after this happened the first time??
Title: Re: How will this mtgox screw-up effect the price? Post by: Yuhfhrh on July 21, 2012, 07:01:40 AM someone plz answer this question: what happened to the price after this happened the first time?? Well last month after the outage, trading went on as usual (it had no effect.) But this is a different kind of outage... Title: Re: How will this mtgox screw-up effect the price? Post by: bb113 on July 21, 2012, 07:03:12 AM A similar thing happens every weekend. Gox is run 80% manually or something.
Also bitcoin is just a big experiment to test what would have happened if the fed acted different during the past decade that is getting out of control right now. Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 07:23:07 AM someone call magicaltux plz. i want to go to sleeep
Title: Re: How will this mtgox screw-up effect the price? Post by: smoothie on July 21, 2012, 07:24:45 AM right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence.
Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 07:28:58 AM right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence. well, it is the weekend. So he's not receiving any support e-mails, and will probably be unaware of this issue until he checks his e-mail on monday unless someone calls him. I don't have his phone number or else i would. I know someone on this forum has his phone number. Plz tell him whats going on.Title: Re: How will this mtgox screw-up effect the price? Post by: Jointops420 on July 21, 2012, 07:35:26 AM Dear MtGox,
Any chance of letting your customers know what's going on in a timely manner? You know, customers the people who have millions tied up with you and are the very reason that you are making money. Also can you do something about that atrocious Mtgox live site and have something that is really in real time and doesn't freeze up when there's more than one trade going on at the time. Thanks Other than that I have no problems with your service everything else has worked good for me. Title: Re: How will this mtgox screw-up effect the price? Post by: myrkul on July 21, 2012, 07:38:01 AM Other than that I have no problems with your service everything else has worked good for me. Other than that, Mrs. Lincoln, how was the play? Title: Re: How will this mtgox screw-up effect the price? Post by: zvs on July 21, 2012, 07:42:35 AM someone plz answer this question: what happened to the price after this happened the first time?? price went up for a few days then it dropped down to $2 Title: Re: How will this mtgox screw-up effect the price? Post by: smoothie on July 21, 2012, 07:42:39 AM I just sent mark an email on three of his different email addresses.
Hopefully he gets at least one of them. Also emailed info@mtgox.com. Title: Re: How will this mtgox screw-up effect the price? Post by: copumpkin on July 21, 2012, 07:44:50 AM I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins :( any thoughts? Not to be an asshole, but can you change the subject to say "affect" instead of "effect"? :P Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 07:48:41 AM I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins :( any thoughts? Not to be an asshole, but can you change the subject to say "affect" instead of "effect"? :P Title: Re: How will this mtgox screw-up effect the price? Post by: kentrolla on July 21, 2012, 07:49:39 AM I just sent mark an email on three of his different email addresses. tyvm. I WANT TO TRADE! GRRR!Hopefully he gets at least one of them. Also emailed info@mtgox.com. Title: Re: How will this mtgox screw-up effect the price? Post by: mc_lovin on July 21, 2012, 07:51:10 AM I was wondering what was going on... I was selling a few coins at $9.25 and I got excited when I saw clarkmoody at $9.30... It was like puuuurfect timing, I check gox and it didn't go through... I thought I was trippin'...
someone plz answer this question: what happened to the price after this happened the first time?? price went up for a few days then it dropped down to $2 Title: Re: How will this mtgox screw-up effect the price? Post by: Yuhfhrh on July 21, 2012, 07:53:05 AM I just sent mark an email on three of his different email addresses. tyvm. I WANT TO TRADE! GRRR!Hopefully he gets at least one of them. Also emailed info@mtgox.com. 3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol Title: Re: How will this mtgox screw-up effect the price? Post by: Bitcoin Oz on July 21, 2012, 07:55:56 AM I just sent mark an email on three of his different email addresses. tyvm. I WANT TO TRADE! GRRR!Hopefully he gets at least one of them. Also emailed info@mtgox.com. 3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol Everyone refreshing it constantly isnt going to help :) Title: Re: How will this mtgox screw-up effect the price? Post by: Yuhfhrh on July 21, 2012, 08:03:20 AM I just sent mark an email on three of his different email addresses. tyvm. I WANT TO TRADE! GRRR!Hopefully he gets at least one of them. Also emailed info@mtgox.com. 3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol Everyone refreshing it constantly isnt going to help :) Touche, but I can't help myself. I have a problem. Title: Re: How will this mtgox screw-up affect the price? Post by: kentrolla on July 21, 2012, 08:28:20 AM Gene, Jul 21 17:06 (JST):
Hello Ken, We sincerely regret for the inconvenience. Our developer team is engaged on this task and they are working on the site to have this rectified as soon as possible. We will have you updated on this shortly . Thanks, MtGox.com Team YAY! they know about it and are working on it Title: Re: How will this mtgox screw-up affect the price? Post by: Yuhfhrh on July 21, 2012, 08:31:35 AM Well I can't keep my eyes open anymore :( Goodnight everyone and pleasant bitcoin dreams!
Title: Re: How will this mtgox screw-up affect the price? Post by: zvs on July 21, 2012, 08:31:57 AM Gene, Jul 21 17:06 (JST): Hello Ken, We sincerely regret for the inconvenience. Our developer team is engaged on this task and they are working on the site to have this rectified as soon as possible. We will have you updated on this shortly . Thanks, MtGox.com Team YAY! they know about it and are working on it are they going to finish the 100k bitcoin market purchase ? Title: Re: How will this mtgox screw-up affect the price? Post by: kentrolla on July 21, 2012, 08:32:50 AM idk, thats all the info they gave me. at least they are working on fixing it
Title: Re: How will this mtgox screw-up effect the price? Post by: molecular on July 21, 2012, 09:30:38 AM any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins you can still submit orders Title: Re: How will this mtgox screw-up effect the price? Post by: molecular on July 21, 2012, 09:32:36 AM Wow someone opened their warchest didnt they. pirate squeeze? Title: Re: How will this mtgox screw-up effect the price? Post by: molecular on July 21, 2012, 09:33:13 AM someone plz answer this question: what happened to the price after this happened the first time?? this hasn't happened before in this way. Title: Re: How will this mtgox screw-up affect the price? Post by: cloon on July 21, 2012, 10:01:36 AM someone plz answer this question: what happened to the price after this happened the first time?? this hasn't happened before in this way. so i do not expect a selloff, if this big buy up to 9.30 was real i see potential to the upside, if not we build a triangle and breakout will show the next direction ps: something happend on btccharts Title: Re: How will this mtgox screw-up affect the price? Post by: Jointops420 on July 21, 2012, 10:04:35 AM Its back and the 400k order went through.
Title: Re: How will this mtgox screw-up affect the price? Post by: cloon on July 21, 2012, 10:06:08 AM yeah looks like a new high at 9.72 ;D
Title: Re: How will this mtgox screw-up affect the price? Post by: John (John K.) on July 21, 2012, 10:18:21 AM Everything's back! Gentlemen, start your...BOTS! ;)
Title: Re: How will this mtgox screw-up affect the price? Post by: Blind on July 21, 2012, 10:24:19 AM Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad :)
Title: Re: How will this mtgox screw-up affect the price? Post by: cloon on July 21, 2012, 10:27:01 AM Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad :) yes rally trigger screwed up by MtGox >:(and i think he'll be angry too Title: Re: How will this mtgox screw-up affect the price? Post by: Jointops420 on July 21, 2012, 10:29:08 AM Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad :) The dumper of the last few days hit the wrong button yeeeehaaa love it. Title: Re: How will this mtgox screw-up affect the price? Post by: BadBear on July 21, 2012, 10:32:52 AM I'd be pissed if I was him.
Title: Re: How will this mtgox screw-up affect the price? Post by: aq on July 21, 2012, 10:34:02 AM Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad :) The dumper of the last few days hit the wrong button yeeeehaaa love it. Only on MtGox you can buy 70kBTC without affecting the price Title: Re: How will this mtgox screw-up affect the price? Post by: Technomage on July 21, 2012, 10:34:42 AM Thinking the price would go down thanks to this is hilarious. Gox had a technical glitch before and it didn't cause any sell offs. This is fairly similar, although this was in the middle of huge buying and an epic rally. So now that there is technical glitch because someone is making one of the biggest buys all time, price will go down? LOL. This is more bullish than anything, Gox can't handle the buying pressure.
Title: Re: How will this mtgox screw-up affect the price? Post by: Jointops420 on July 21, 2012, 10:51:12 AM There was 1.8mill on the orders books earlier today and after that big buy there still is 1.8 mill, this is sure going to be an interesting time ahead.
Good luck to everyone, as much as I want to see BTC succeed for the benefit of humanity I do for my own reasons of financial security. Title: Re: How will this mtgox screw-up affect the price? Post by: zvs on July 21, 2012, 11:37:43 AM Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad :) yes rally trigger screwed up by MtGox >:(and i think he'll be angry too yeah, i'd be pissed ed: if the thinking was that maybe it'd spark it higher, that was lost by mtgox going down for 7 hrs and people either getting ready to or already placing sell orders in the range that the guy bought into. i'd ask for an 8.8 * number of bitcoin refund or maybe it's just someone that just *really* wanted some goddamn bitcoins (see www.youtube.com/watch?v=tpG8Z-k2koE) in which case they'll be back for more anyway |
