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agreed it will most likely make bitcoin stronger, but i still think a threat center with X amount of people is a good idea. The people would be trusted users from all around. for examplle maybe 2 people from the bitcoin-otc, then 2 people from bitcointalk forums, 2 bitcoin devs,2 well known and big busnesses, and 2 big mining pools
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the group would consist of lets say 10 memebers each with equal control and needing a majority to do anything. 6 members
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I dont know how much more of this mtgox BS i can stand. I am really fucking pissed right now. Put an instant sell order at 41$ and guess what its nearly 39$ and it still hasnt been excuted. I offically am done using mtgox. I will be moving my coins out prior to the coin lab take over march 22nd i belive, and I recommened anyone reading this todo the same. As far as alteritives go. I recommend bitstamp, btc-e and also bitfloor
my sell order info
2013/03/11 21:35:12 Out 99.99000000 BTC 0.00000000 BTC
BTC sold: [tid:1363055712145864] 99.99000000 BTC at $38.50000
2013/03/11 21:35:10 Out 0.01000000 BTC 99.99000000 BTC
BTC sold: [tid:1363055710785303] 0.01000000 BTC at $40.45001
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With the latest major bitcoin network fork it is becoming more apparent that in the case of a huge threat bitcoin might just not survive. I think we need to establish a board that will simply have contact info with all bitcoin businesses, bitcoin mining companies and such. Also I know this goes against the whole decentralized nature of bitcoin but i think we this group should also have a few switches, for example a button to push an older update, another button to push a new update out and buttons like that.I am totally open to suggestions and such but i think this is a need as the latest threat shows just how little we are prepared
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personally i have talked with exxe over emails many times he is a very nice person and is quite legit. The biggest worry I see right now is that people will just make a new account when there account goes into negitives. like my account has right now 0.18btc i belive. i have to put some in soon
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Yea coinlab will most likely fuck them over. will go into the big book of bitcoin scams/takedowns
Idk about the server part but it sounds just about right to me.
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I have been reading alot of thread about people who buy something in bitcoins and then when they want a refund get shorted bitcoins. I understand that this is because the price rose or lowered or w.e. but if you ever expect bitcoin to become the currency used you have to stop treating bitcoin as gold and its value is stuck to fait currency. As long as this is done bitcoin can and will never gain use as a normal currency simply as a middleman or currency exchaning currency, sorta like gold.
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has anyone actully bought one and gotten the product and can post some picture evidence of the unit.
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I just now finished my first MT.GOX trade. Sold 6 btc in a minute, cancelled my old order (probably september 2012, sth like buy BTCs @ 9.7 EUR - too bad I was not more generous  Everything worked fine. Just my 0.0000002 btc no offense but it was only one trade. also gox hasnt had been movements today. Its whenever alot of people want to see there are some huge problems. |
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Yea the fee structure is quite bad but I could get over it if the service was better
I'd expect nothing less than perfect service given the fees we are paying. You might be slightly better of if you're getting the 0.25%, the fact is most get 0.6% which makles that problem even worse. The most EXPENSIVE mainstream stock brokers charge $10 per trade. Compare that with $250+ per trade if I am getting the best rate. ...its still a problem when you cant even cancel and order on mtgox as the cancel button doesnt work...
I've been there. agreed, if we are going to pay a hefty fee the site should be working great and have no lag at all. Not to mention have stop orders and such Its honestly the worst. The worst i got was doing an instant sell and because of a 700second delay the coins sell for 5$ cheaper |
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@starsoccer9 forgive me if you thought I was expressing sympathy for MtGox. I personally highly dislike their % based fee structure. A flat rate would be much more effective, especially for traders. It would be even better if we were given the choice on what fee structure to choose from (assuming they do one day implement a flat rate).
On your other point - no one is telling you what you should do with your money as long as it doesn't negatively affect others.
But to be rational, bitcoin is not really ready for REAL day trading - yet. Unless you are day trading bitcoin with a VERY SMALL sum of money, you can't expect a stable fill price. If I wanted to use $100,000 to day trade bitcoin I would have to be willing to stomach 3% slippage in price to get my order filled, excluding MtGox commissions. And given how MtGox handles partial orders and cancelling live orders I really doubt you would want to be in this situation. To add, MtGox deliberately charges a large comission (0.25% ATLEAST) - that is $250 on 100k. My stock broker charges me less than 2% of that fee no matter if I trade $100 worth of stock, or $1000000 worth of stock.
The systems aren't in place for effective day trading. You're WAY better off trading the U.S. stock market if you want to day trade.
Yea the fee structure is quite bad but I could get over it if the service was better Okay I understand I personally do day trading with about 50ish BTC to 100 BTC but its still a problem when you cant even cancel and order on mtgox as the cancel button doesnt work. |
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You simply shouldn't be day trading bitcoin. The infrastructure isn't in place. The volume isn't there. Massive slippage occurs. When you see tens of millions in USD traded for BTC every minute the story will be different (right now only thousands are traded every minute, very small volume comparing to assets which are actively day traded). The reason the lag is there is because bitcoin has grown a lot in the past few weeks / months, and the correct tech isn't in place to handle this heavy trading that will eventually be normal for bitcoin. At this point in the game, it isn't normal. People who trade stocks often compare bitcoin volume and price behavior to penny stocks (i.e. something that is heavily manipulated).
If you want to day trade there are plenty of other better assets / markets to day trade.
so your basically saying mtgox is not allowing me to day trader. so i didnt know mtgox gets to choose for me what i do with my money. The lag also is for all users not just day traders. if you think 700 second lag is fine then feel free to keep using mtgox and wonder why your buy/sell orders are costing you money. As far as expansion goes, im not aruging that more users are coming but most of these issues have existed for months. if mtgox needs months to fix problems I wont be using them. That is like EA saying sorry people who bought simcity we need months before we can put up any new servers. |
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All the problems I have listed are just common problems people have encoutered on the forum.
The lag is a huge problem. Think of playing a video game with a 700second delay. basically you cant do anything. For people who want to day trade or sell when a big movement is happening there is a 700second delay. that means If I put an instant sell order and the price is at 45$ it might not even get to the server and become excuted until we hit 35$
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so what exactly is the latest as i kinda want to know what is happening with my shares
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So many newbie threads everywhere! You can tell who just joined the, "I panic sold all my BTC" club just by scanning the thread titles.
most of the people posting here arent newbies ins all hero memebers just fyi. There surely are issues to sort out, and the trading engine seems to have big problems keeping up when there's a lot of traffic, same problem with their data API.
What would be a great thing to do, would be to have anonymous user submitted issues in a tracking system, then all customers could vote on the issues, and the ones raising to the top, would have the most attention from the devs.
I agre that would be a decent idea and maybe we could see some improvements but its not accecptable to be the leader in the market and have these types of problems for months. If you do have these problems well then its quite clear you shouldnt be the leader in the market
I think we need to make it clear to mtgox that if they wont change they wont have any users soon. I think prior to march 22nd we should all withdraw out funds from mtgox and move to other smaller exchanges to hopefull teach mtgox a lesson |
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if you guys wanna hear a good part of this, depending on the lag is how many users are on mtgox which seems to have a major corelation to how big of a rise or drop we have lol
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They've rushed ahead with services without getting the fundamentals correct. It will hurt them in the long run
agreed 100%, before you can move on you need the basics to work 110% then you can move on to extra features. |
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BTC is still not ready for primetime. MtGox is one of the primary examples - but we are still building the necessary infrastruction for legitimate investors to take notice of our little geek niche specialty currency. FWIW I do believe BTC or more generally cryptocurrency can change the world or at least become very valuable - just that many people around here have gotten WAY ahead of where we really are today
Not arguing that but if mtgox plans to have a future in that economy then they need to step up there game |
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Well to make this quick and easy there are many reasons but I am going to name the big ones, - trading engine lags 770seconds
- has had many problems with withdrawls
- has had major dwolla problems in the past which i have heard still are not sorted out
- cancel button rarely works correctly
- during major movements trading is nearly impossible
The above reasons are just a few probelms i know off hand, mtgox is the leader in btc exchanges execpt they dont act like it and rarely fix anything. There support honestly sucks, dont know the last time it was even possible to get someone on live chat. I personally used mtgox for many months but as bitcoin grows and gets more users mtgox is just begging for more and more problems.I do understand it takes time to fix some problems but its been months some problems even a year and still nothing has changed. Mtgox just sits and thinks they are the leader in the market and noone else has a chance. I recommened you remove all your coins from mtgox prior to the coinlab transition and use other exchanges, btc-e is okay, bitcoin-24 is another decent option, bitfloor and bitstamp are both quite nice. as more and more users make the switch the price will become better and better and maybe mtgox will relalize they need to step there game up if they want real users. EDIT: changed mtgox lag to 663 EDIT: changed mtgox lag again, just cant keep up with how bad it gets, 731.81 |
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