1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit
Does it work?
How long does it take for a cpu to count from 1 to 10000? |
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How can people say that the lag is caused by selloffs now. There was NO selloff going on, BTC had been at almost exactly $110 for nearly 12 hours. Yet people are running around trolling about Gox trying to manipulate the price upward with lag.
I was watching live, there was a decent sell off, and it broke the price triangle downwards, and that was the start of the lag. I was watching too. The triangle formed around $110, there was a "break" upwards, turned out to only bring it to $120 then down to $115, where it stayed for a while, then there was a "break" downwards, turned out to only bring it down to $110 again, stayed there for a bit lag kicked in and now we are screwed. This, the triangle broke upwards many hours ago. In terms of lag, Coined, you experienced it first hand, I didn't. Whatever is happening right now is unacceptable. There is very little activity.  |
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DDOS is just a scapegoat.
It's either incompetence or malice. Since neither explanation make sense I seriously considering the lag is just an arbitrary fudge factor artificially added by gox.
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Hopefully people wise up when this happens and hold on until it's over. Can't give these lowlifes the satisfaction.
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Bitcoin: Lets make a pseudo-anonymous p2p currency which you can order drugs online with. oh wait that already happed. Bitcointalk: Lets hoard Bitcoins to take down the Man. no I can't see how this can possibly fail.  |
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I don't "believe" in single digits since I realize everything is just a chance.
Single digits are a strong possibility now, hell even fractional digits are possible.
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This thread has become the equivalent of the BTC-e trollbox.
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Good, time to mop up the coins and fiat of fools.
FTFY |
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This will last significantly longer than 30 days.
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It looks like gox is offline. Their trading lag was not bad. If they are offline it probably means they are being DDOS'ed. That can create panic when it resumes. That's why I don't think we are out of the park yet. Someone is perpetually attacking gox and succeeding.
I rather think they pulled the plug. They want to stall the collapse for as long as possible to collect more fees. And since it is within the promised 48h "no fee" value propping area they don't loose any either. If gox was doing any of this on purpose and destroying their own reputation then it's not to their monetary incentives is it? It's also not to their monetary incentives to have the price of bitcoin become lower. Sorry that was meant they are propping volume. I think the concept behind this is to increase volatility and as such the frequency of trades. Once the trading volume has gone up to this levels it will take a while for it to come down, during which they will collect fees. As for their reputation: It's not like we can catch them doing it, we can either believe their explanations or come up with something our own. Neither of which can be proved either way. |
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It looks like gox is offline. Their trading lag was not bad. If they are offline it probably means they are being DDOS'ed. That can create panic when it resumes. That's why I don't think we are out of the park yet. Someone is perpetually attacking gox and succeeding.
I rather think they pulled the plug. They want to stall the collapse for as long as possible to collect more fees. And since it is within the promised 48h "no fee" value propping area they don't loose any either. |
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Actually that isn't that far from the point. It being exchangeable isn't the issue here - that it's value is derived by the amount of cash put into it is. The currency must be representative of something valuable, namecoin goes in the right direction, but the concept can be extended much, much further. There are even discussions of how the mining network itself providing something of fundamental value. The pinnacle would be that the secret needed to spend the coins to represent fundamentally valuable information.  |
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New Record! Most coins ever traded in 1 week! This beats the previous record of 1.1million by about 100,000coins, with 1 day of high volatility trading left to complete the week, I would expect to see this record volume week close at ~1.5million coins traded, definitely a bullish sign! As bitcoin begins to flow into the kinda hands that won't panic sell their new found bitcoin wealth at every single hiccup, I doubt we will break this record, ever! Well plus the fact that its harder to withdraw fiat funds than depositing , ofcourse its bullish. Last crash was that all the miners were scared and sold all their mined coins, investors wont sell their coins that easy Notice something? Hooves have no longer contact to the ground.  |
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Yeah I expect qr codes themselves to stay along for a long time.  |
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This day on your bull-shit channel:    There is still some space at the top for both of us.  |
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Pop, again.
So, how about a bet? I bet you 1k BTC we will see 200$ before single digits. Oh, wait, you obviously are out of Bitcoin. Oh, wait, you obviously are trolling anyway. Ente I bet you a million dollars you don't have 1000 BTC. |
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An exchange which offers an API is subject to flooding attacks either through malice or incompetence.
Automated trades should be forced to operate through a QOS mechanism which limits both individual activity, and the aggregate automated action to a small percentage of total exchange capacity. A fee for API driven trades would also be an effective mechanism to moderate the load caused by automated trading systems.
I maintain that streaming a HD video and decoding it takes more resources than operating the entirety of mtgox on a single machine. Processing an order should be a trivial operation. |
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Bitstamp price dropped about $15 as soon as Gox went down. I'm not sure what to draw from that.
That Bitstamp is a joke? I mean come on, b4 Goxs up yesterday... all the idiots thought other exchanges would ...affect Gox. That gox will go there too. Will be back for the I told you sos. |
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