Bitcoin Forum

Does anybody know why this queueing is nessesary ? I am getting up to 5 minutes and longer for my orderes to get processed!

I think that MtGox will introduce an additional service soon for customers who will have to pay extra and get their orderes processed immediatly.

Apparently it doesn't matter how much Mt. Gox suck, everyone will just keep using it. No wonder we're having such a hard time selling the idea of free markets.

It makes no sense to move to another market since they are all an order of magnitude smaller than Mt.Gox.  Until that changes why would you expect anyone to switch?  Also free trades is a huge draw even when the market is stuck between 16 and 17

Does "5 minutes and longer" mean "usually 5 minutes but sometimes up to X"?

Right now I have 4 sell orders stuck in the queue for 20+ minutes.

The sense it makes is that there seems to be more buyers at tradehill.  You get more dwollas for your bitcoins.  Then you can send them back to mtgox and buy more bitcoins for the same dwollas.  Now if only tradehill let me add a comment I could cut my Dwolla fees in half.

I wish people would stop complaining about mtgox.... use a different exchange, perhaps?  Tradehill has plenty of volume for buying or selling anything less than 100 coins, so unless you're a daytrader or playing the market, I don't see what the big concern is.

Yup, actually I'm waiting for CampBX.

This whole queuing thing is really weird.  Seems like an attempt to control the market to me.  I placed a slight under ask and it queued it.  It then unqueued 5 bitcoins worth and sold them, then left the rest queued.  How does that many any sense?

Mt. Gox is currently having difficulty placing Bid/Ask orders in the range from $16.00 to $16.05. If your offer is below or above this range, it will typically go through in a matter of seconds.

Still waiting on MagicalTux to wake up over in Japan and confirm the possible existence of a bug of some sort.

Sit in #mtgox on IRC for more info.

No I think its some kind of blocking, the more often you trade small amounts, the longer it takes to place an order.

@Datguy: if your logic were true than one may come to think that MtGox is manipulating the market in some way (or selling their own coins for 16.0x) and while doing it they have a bug! I strongly hope they dont have that.

I'm beginning to think about manipulation too. After several hours of queued sell orders below last price, when they finally became active, the price had gone to 15.80.

The "order queuing delays" are very suspicious. Especially when they seem to vary depending on the bid price. There's no reason the transaction part of Mt. Gox should be heavily loaded at all. There are only a few transactions per minute.  Order delays allow front-running, where the house puts in their orders
ahead of the customer orders, after looking at the queue.  That gives the house a huge edge.

On top of this, Mt. Gox is making excuses for delays in paying out funds. (https://mtgox.zendesk.com/entries/20239036-important-notice-libertyreserve-delays) Again. They're blaming Liberty Reserve this time.  (Dwolla is supposedly still working).  That's a red flag.

Get your funds out of Mt. Gox now. If you insist on trading there, keep the minimum amounts necessary there. But don't use them as a bank.

The market depth on the bid side at Mt. Gox is dropping.   Mt. Gox now has about 3x the market depth of Tradehill; it was 6x or higher yesterday. People are pulling their cash out of Mt. Gox.

everyone goto tradehill!!

Same exact thing happen to me, I missed out on a boat load of cash, because it only unqueued a tiny part of my ask.