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Author Topic: Is Mt Gox hacked? The volume of the last few trades are all repeating digits  (Read 1016 times)
mot7
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March 19, 2013, 03:35:10 PM
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The last few trades on MtGox's website are infinite repeating digits.  This is very atypical and to have this occur several times in a row, along with a price jump makes me suspicious.

Can anyone validate whats going on?

For example the volume indicator says the quantity of trades ends in .3333333   .6666666 etc.

How can "volume" include a fractional trade.  A trade is a whole number no?
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March 19, 2013, 03:42:32 PM
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The last few trades on MtGox's website are infinite repeating digits.  This is very atypical and to have this occur several times in a row, along with a price jump makes me suspicious.

Can anyone validate whats going on?

For example the volume indicator says the quantity of trades ends in .3333333   .6666666 etc.

How can "volume" include a fractional trade.  A trade is a whole number no?

You do realize what "M" in MtGox stands for, do you?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
John (John K.)
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March 19, 2013, 03:43:41 PM
 #3

The last few trades on MtGox's website are infinite repeating digits.  This is very atypical and to have this occur several times in a row, along with a price jump makes me suspicious.

Can anyone validate whats going on?

For example the volume indicator says the quantity of trades ends in .3333333   .6666666 etc.

How can "volume" include a fractional trade.  A trade is a whole number no?

Uh, you can buy or sell fractional amounts there.

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March 19, 2013, 03:44:12 PM
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The last few trades on MtGox's website are infinite repeating digits.  This is very atypical and to have this occur several times in a row, along with a price jump makes me suspicious.

Can anyone validate whats going on?

For example the volume indicator says the quantity of trades ends in .3333333   .6666666 etc.

How can "volume" include a fractional trade.  A trade is a whole number no?


There was the .7337 boot too not long ago - maybe someone just having a blast ?
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March 19, 2013, 03:45:28 PM
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Bots don't care how numbers look.  Grin

mot7
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March 19, 2013, 03:56:29 PM
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Uh, you can buy or sell fractional amounts there.

John we're talking about two different things.  "Volume" is the count of trades over a period of time.  It should always be a whole number.

Example:

3 trades for 0.5 BTC is a volume of 3. 

If "volume" is a non-fraction and an integer how can "volume" logically not be a whole number.
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March 19, 2013, 03:59:38 PM
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looks like it's fixed.  The volume is now showing a whole number for the last n trades
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March 20, 2013, 12:47:54 AM
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volume = Amount of BTC bought and sold.

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March 20, 2013, 12:51:22 AM
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Uh, you can buy or sell fractional amounts there.

John we're talking about two different things.  "Volume" is the count of trades over a period of time.  It should always be a whole number.

Example:

3 trades for 0.5 BTC is a volume of 3. 

If "volume" is a non-fraction and an integer how can "volume" logically not be a whole number.

3 trades for 0.5 BTC is a volume of 1.5 BTC.

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March 20, 2013, 12:55:11 AM
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Uh, you can buy or sell fractional amounts there.

John we're talking about two different things.  "Volume" is the count of trades over a period of time.  It should always be a whole number.

Example:

3 trades for 0.5 BTC is a volume of 3. 

If "volume" is a non-fraction and an integer how can "volume" logically not be a whole number.

3 trades for 0.5 BTC is a volume of 1.5 BTC.

No, its 3!
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March 20, 2013, 01:23:54 AM
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MtGox Volume:103,424 BTC
Over 100,000 BTC not the number of transactions.

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March 20, 2013, 01:29:04 AM
 #12

John we're talking about two different things.  "Volume" is the count of trades over a period of time.  It should always be a whole number.

No it isn't.  Think about how utterly worthless that would be as a metric.

You trade 1 order of 100,000 BTC = 1 volume?
I trade 100,000 orders of 1 satoshi each (0.001 BTC total) = 100,000 volume?
What use would that be as a metric?

VOLUME on any currency exchange is the amount of currency traded.  MtGox measures the BTC volume (i.e. the total BTC traded in the prior 24 hours).
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March 20, 2013, 02:47:02 AM
 #13

John we're talking about two different things.  "Volume" is the count of trades over a period of time.  It should always be a whole number.

No it isn't.  Think about how utterly worthless that would be as a metric.

You trade 1 order of 100,000 BTC = 1 volume?
I trade 100,000 orders of 1 satoshi each (0.001 BTC total) = 100,000 volume?
What use would that be as a metric?

VOLUME on any currency exchange is the amount of currency traded.  MtGox measures the BTC volume (i.e. the total BTC traded in the prior 24 hours).

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March 20, 2013, 03:51:36 AM
 #14

What you're see is short-term market manipulation.

The bot waits for low volume and the right bid/ask trade environment.  Then trades back and forth with account it controls to push the market in a direction.  Then buys on another site (such as 1broker), at a manipulated price.  Then sells when the market corrects.

It also looks for opportunities to push stops with small orders, then sell once stops are triggered with large orders.

It's a scam. 

The way to protect yourself is to watch actual Bitcoin volume trades and not just the price.

Someone needs to setup a trading platform with conditional rules so we can filter out these market manipulations.
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