eklass (OP)
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March 19, 2013, 03:12:43 PM |
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I'm convinced MtGox lag is becoming a larger and larger issue with these large swings. Up to $62 and back down to $59 at time of posting. https://i.imgur.com/rucXNMF.png |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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talnted
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Activity: 236
Merit: 100
www.bitcoingem.com
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March 19, 2013, 03:15:22 PM |
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I just saw it too!
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Over 800+ BTC Paid Out! 1110+ Buyers of the Gem! |
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zeocrash
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March 19, 2013, 03:23:03 PM |
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it really is shameful.
you'd have thought with all the huge piles of cash that mtgox make with their 0.6% fee that they could afford to hire some coders to write a high performance trading engine
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kenerwin88
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March 19, 2013, 03:24:51 PM |
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I wish the swings weren't so drastic. It's difficult to offer any goods or services knowing that the value is could swing wildly within minutes. Is there any web API for offering a service at x US$ price that automatically adjusts to the current bitcoin exchange rate?
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zeocrash
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March 19, 2013, 03:27:31 PM |
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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
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Muszek83
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March 19, 2013, 03:36:00 PM |
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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.
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chrsjrcj
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March 19, 2013, 03:44:10 PM |
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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!
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Gabi
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If you want to walk on water, get out of the boat
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March 19, 2013, 03:45:46 PM |
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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
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TheJamesFund
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March 19, 2013, 03:47:12 PM |
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its gonna hit 100 by end of month
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chrsjrcj
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March 19, 2013, 03:51:01 PM |
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its gonna hit 100 by end of month week
FIFY |
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jwzguy
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March 19, 2013, 03:52:04 PM |
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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. |
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eklass (OP)
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March 19, 2013, 05:06:34 PM |
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Ok, lag is a problem, but the price swing is fine
And a swing caused by lag would be... ? |
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MonkeyBear68
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March 19, 2013, 10:20:37 PM |
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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 $2000 swings. :-)
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tlr
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Merit: 10
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March 19, 2013, 10:28:40 PM |
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I wish the swings weren't so drastic. It's difficult to offer any goods or services knowing that the value is could swing wildly within minutes. Is there any web API for offering a service at x US$ 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". |
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eklass (OP)
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March 20, 2013, 01:19:37 AM |
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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. |
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unknown45682
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March 20, 2013, 01:57:47 AM |
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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. |
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phelix
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Activity: 1708
Merit: 1019
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March 22, 2013, 09:04:58 PM |
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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. |
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