MtGox lag and large swings. 57 to 62 to 59 in seconds

[eklass]

I'm convinced MtGox lag is becoming a larger and larger issue with these large swings. Up to $62 and back down to $59 at time of posting.

https://i.imgur.com/rucXNMF.png

[talnted]

I just saw it too!

[zeocrash]

it really is shameful.
you'd have thought with all the huge piles of cash that mtgox make with their 0.6% fee that they could afford to hire some coders to write a high performance trading engine

[kenerwin88]

I wish the swings weren't so drastic.  It's difficult to offer any goods or services knowing that the value is could swing wildly within minutes.  Is there any web API for offering a service at x US$ price that automatically adjusts to the current bitcoin exchange rate?  

[zeocrash]

you can get the current price from mtgox, the problem is that their trading engine can't handle the load so it slows down and the data you see is actually information about what happened 5 mins ago

[Muszek83]

Swings just happen. I recommend to cool down and stop trading BTC for a while, it should get back to normal in a matter of hours. It's been always that way.

[chrsjrcj]

I have my phone set to alert me at every dollar increment. I thought it was having a seizure, then I saw the price, and I started having a seizure!

[Gabi]

What is wrong? Price went from 57 to 62 and then back to 59, it is what happened, it is not a bug

Ok, lag is a problem, but the price swing is fine

[TheJamesFund]

its gonna hit 100 by end of month

[chrsjrcj]

its gonna hit 100 by end of month week

FIFY

[jwzguy]

it really is shameful.
you'd have thought with all the huge piles of cash that mtgox make with their 0.6% fee that they could afford to hire some coders to write a high performance trading engine

They should just use Roman's engine. He opensourced it at one point.

[eklass]

Ok, lag is a problem, but the price swing is fine

And a swing caused by lag would be... ?

[MonkeyBear68]

Those swings occur because the depth is very shallow between the bid and ask orders.

Instead of looking at the actual dollar value look at the percentage value of the swing, $57 to $62 is a $5 swing, but that is under 10%. In percentage terms, it is the equivalent of a swing from $5.70 to $6.20 (50 cents) when BTC was in the 6 dollar range.

Berkshire Hathaway (A) can swing $2000 a day, but since it is ~$150,000 a share this is only 1.33%. Let’s hope that Bitcoin gets to where it will be having similar $2000 swings. :-)

[tlr]

I wish the swings weren't so drastic.  It's difficult to offer any goods or services knowing that the value is could swing wildly within minutes.  Is there any web API for offering a service at x US$ price that automatically adjusts to the current bitcoin exchange rate?  

I think BitPay and Coinbase do this. Coinbase advertises "Zero exchange risk" and BitPay advertises "ZERO Bitcoin Liability".

[eklass]

Berkshire Hathaway (A) can swing $2000 a day, but since it is ~$150,000 a share this is only 1.33%. Let’s hope that Bitcoin gets to where it will be having similar $2000 swings. :-)

Off topic, but it would be huge publicity to get a quote from Warren Buffet on his thoughts about Bitcoin.

[unknown45682]

Berkshire Hathaway (A) can swing $2000 a day, but since it is ~$150,000 a share this is only 1.33%. Let’s hope that Bitcoin gets to where it will be having similar $2000 swings. :-)

Off topic, but it would be huge publicity to get a quote from Warren Buffet on his thoughts about Bitcoin.

He will probably give a negative review of it. He's rich in fiat. He has no interest in something that goes against the Federal Reserve. That's what I think anyway.

Back on topic: MtGox lag really is annoying. It's cost me money a few times, not being able to cancel an order quick enough. They really need to do something about that.

[phelix]

I'm convinced MtGox lag is becoming a larger and larger issue with these large swings. Up to $62 and back down to $59 at time of posting.

https://i.imgur.com/rucXNMF.png

+1

Humans are pretty bad at dealing with delayed feedback. It makes everyone panic.