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Even in the major exchanges, quote dissemination is a problem. That is why major infrastructure is required to match trades, while a completely separate part spits out prices. Since both functions were on the same box/cluster/cpu, it makes sense the matching took priority over quotes getting streamed.
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Let the trading newbies storm the castle. It won't matter in the long run. The market should be 24/7. Circuit breakers actually contribute to anxiety, not relieve it. (Ever been stuck on a limit market just wanting to get filled? It isn't a good feeling.)
Let the stupidity flow for 24 hours before the market returns to its usual inexorable grind-and-fill upward.
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Mine looks like random bit-barf you get when you jiggle your router's power cord  Seriously though, I did use a randomizer service to come up with the 'seed', then changed it with a few selected special characters and numbers. |
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Someone else mentioned this already in another thread, but I think the best practices here is the same for splitting your bitcoin balance between a 'savings' and 'spending' wallet. In this case, never keep major balances in an exchange that you aren't comfortable losing. It can be a certain percentage, whatever, just make the same assumption you would about your spending wallet.
Never assume any exchange is going to be perfect, especially this early in the game. Plan accordingly.
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Epinnoia does have a point though, regarding widespread adoption.
To fully gain traction, the client and other backup devices have to be as easy to use as a credit card. I know that the underlying mechanics aren't simple, but if such a thing could be done it would be easier for people to use them in their lives without having to plumb the depths of bitcoin security.
How hard would it be to make an embedded linux device on a USB stick that performed the functions mentioned seamlessly? I don't have that immediate answer, but it would be very cool if such a thing existed. Also, extend the concept to a chip-on-a-credit-card device. People would sign up for such a thing in droves, since they are very familiar with using credit cards.
I respect the technical underpinnings of bitcoin and the clients, but we have a long way to go before regular people will be comfortable using this technology.
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Perhaps this may help: http://www.random.org/passwords/Password generator, select length and how many you need generated, done. (I'd insert some special characters as well.) |
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They may also automate reactivation if the current balances are extremely small/near zero, which would save time.
(Just my personal theory..)
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Seriously. You want regulation?
Trade the green toilet paper equity markets in the USA.
They are, at best, a joke. They will eventually collapse when all the federal debt comes to fore. Invest wisely.
Anyone calling for regulation in bitcoin is a complete idiot.
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The parent poster obviously has no idea what a market is, otherwise they wouldn't be so in favor of restricting the trading hours. How about you take a nap, and let the adults do the trading...
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WHOIS mtgox.comRSP: KalyHost URL: http://www.kalyhost.com/created-date: 2007-01-02 21:05:49 updated-date: 2011-03-06 05:45:07 registration-expiration-date: 2013-01-02 21:05:49 owner-organization: Tibanne Co. Ltd. owner-name: Mark Karpelès owner-street: Cerulean Tower 15F owner-city: Shibuya owner-state: Tokyo owner-zip: 168-0082 owner-country: JP owner-phone: +81.345501529 owner-fax: owner-email: contact@tibanne.comWHOIS KalyHost.comRSP: KalyHost URL: http://www.kalyhost.com/created-date: 2009-12-19 08:56:01 updated-date: 2011-05-25 15:16:24 registration-expiration-date: 2012-12-19 08:56:01 owner-organization: K.K. Tibanne owner-name: Mark Karpeles owner-street: 5-24-30, Fleur Tsuzuki 102 owner-city: Kugayama owner-state: Tokyo-to, Suginami-ku owner-zip: 168-0082 owner-country: JP owner-phone: +81.345501529 owner-fax: owner-email: domains@tibanne.comEdit: My mistake, owner is in Japan, the server is here: IP address: 72.52.5.81 Host of this IP: unknown.prolexic.com Organization: Prolexic Technologies ISP: Prolexic Technologies City: Hollywood Country: United States State: Florida Postal Code: 33020 Timezone: America/New_York
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MT posts some random selective login (why?) logs, and you immediately believe him? hmm.
I posted all the logins on Kevin's and the hacked account for May 19th. MagicalTux, don't sweat the idiots. I get why you have to do what you're doing. I've traded on different exchanges, futures, forex, options. Appreciate the additional information. Just do what you need to do, let the trolls simmer and boil in their own juices, its what they are best at. Look forward to the re-opening. |
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Perhaps a greasemonkey script would work. Did some research and a few seem to exist for simple machine forums, but I haven't tested them just yet.
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You're a bald midget with bad fashion sense?
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What you non-trading goofballs keep missing is the trade was fraudulent to begin with.
The rest is just bickering over who keeps a pot of gold that fell out of the sky.
Doesn't matter either way, the trades get rolled back and this thread will disappear under the newest wave of trollbait and ranting like usual. Just the way it is.
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The only lesson I just learned here is you think bitcoin is a pyramid scheme.
It isn't.
Thanks for playing.
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Executive summary:
1.) "I took advantage of an extraordinary event that turned out to be initiated by a rogue sell order, not legitimate trading."
2.) "Can I keep it? Look, here's why."
No, sorry. To allow the trade to stand would legitimize the attack, is that what you really want? (Besides bitcoins and dollars, I mean.)
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Hah, like a bitcoin "lottery" for whitehats.
You are right though Vladimir, prices haven't collapsed as all the fear-mongers said.
Tradehill Bid/Offer: 13.77/14.75
Last: 14.75
Heck, could even get to parity with the Mt.Gox last of 17.50 before they open...
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TraderTimm, do you think the pattern is remaining the same (for the most part) but amplified? How has it changed?
In times of extreme pessimism, the market tends to surprise and astonish. And that goes for any traded market, not just bitcoin. |
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