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Author Topic: so is this what is going on with Mt.Gox?  (Read 858 times)
pe1pip
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March 29, 2013, 10:11:39 PM
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In the past few weeks we've seen Mt.Gox go down a few times, each time accompanied by a substantial drop in the BTC exchange rate. I've seen very few speculations so far, but my guess at this time is that the only way to profit from this is by going short. When the time is there to deliver, whoever is doing this attacks Mt.Gox and makes the price drop enough to profit.

Any thoughts? And, anything anyone is doing to counter this?
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BTCBUDDY1
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March 30, 2013, 01:03:21 AM
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i haveno idea, but what if they dont want people to sell when it drops so much?

I'm back.
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March 30, 2013, 05:58:45 AM
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In the past few weeks we've seen Mt.Gox go down a few times, each time accompanied by a substantial drop in the BTC exchange rate. I've seen very few speculations so far, but my guess at this time is that the only way to profit from this is by going short. When the time is there to deliver, whoever is doing this attacks Mt.Gox and makes the price drop enough to profit.

Any thoughts? And, anything anyone is doing to counter this?

I have two good friends in line tonight to obtain Mt. Gox accounts. One is around 4,000 on the waiting list, and the other is around 6,400 on the waiting list. Could it be possible that it is simply interested applicants slowing it down, uploading their driver's license pics etc? When I got my account it took one day to verify. Now Mt. Gox is saying to expect 10 days to verify. I would say you may want to be careful on the shorting of BTC.

Math based currencies will overcome all sovereign currencies over time. Buy them now.
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March 30, 2013, 06:16:45 AM
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I'm trying a new strategy.  I put in a sell order for $94 for a small piece of my holdings, and a buy at $85 for the same amount of money, less commissions.  Hopefully, the sell will execute tonight or tomorrow.  Then, I'm poised for the next 10% dip, when my outstanding buy order should automatically execute, even if Mt.Gox is unreachable.  Then, I will have bought at $85 and sold at $94, just in the non-customary order.  When the price gets back to normal, I will have increased my holdings by a few BTC.

If more people would do this, the price would be more stable, more investors would dare to join us, and that helps move us toward global acceptance.  These flash crashes scare new investors away. 

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
pe1pip
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March 30, 2013, 09:03:38 AM
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I'm trying a new strategy.  I put in a sell order for $94 for a small piece of my holdings, and a buy at $85 for the same amount of money, less commissions.  Hopefully, the sell will execute tonight or tomorrow.  Then, I'm poised for the next 10% dip, when my outstanding buy order should automatically execute, even if Mt.Gox is unreachable.  Then, I will have bought at $85 and sold at $94, just in the non-customary order.  When the price gets back to normal, I will have increased my holdings by a few BTC.

If more people would do this, the price would be more stable, more investors would dare to join us, and that helps move us toward global acceptance.  These flash crashes scare new investors away. 

isn't this exactly what I'm suggesting? Going short and profiting from the DDOS, even if you're not causing the DDOS yourself. Now, if you do this for enough BTC, you're making lost of $$$....
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March 30, 2013, 04:08:08 PM
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I'm trying a new strategy.  I put in a sell order for $94 for a small piece of my holdings, and a buy at $85 for the same amount of money, less commissions.  Hopefully, the sell will execute tonight or tomorrow.  Then, I'm poised for the next 10% dip, when my outstanding buy order should automatically execute, even if Mt.Gox is unreachable.  Then, I will have bought at $85 and sold at $94, just in the non-customary order.  When the price gets back to normal, I will have increased my holdings by a few BTC.

If more people would do this, the price would be more stable, more investors would dare to join us, and that helps move us toward global acceptance.  These flash crashes scare new investors away. 

isn't this exactly what I'm suggesting? Going short and profiting from the DDOS, even if you're not causing the DDOS yourself. Now, if you do this for enough BTC, you're making lost of $$$....

Is this what you meant to suggest?  All I saw of your strategy was, "the only way to profit from this is by going short."  I don't want to argue over terminology, but that doesn't sound like my strategy at all.

First of all, I'm not going short.  I'm just converting 50% of my holdings into fiat, which still leaves me quite long.  The flash crashes are too intermittent for my taste.  I don't want to miss out on long, stead run ups, so I'm always keeping at least half of my investment in BTC.

The other part of my strategy is placing limit buy orders so that I will automatically buy during flash crashes.  That way I don't have to worry about lags, DDoS, or AFK.

If that's what you meant, then we're kindred spirits, promoting price stability, and making money in the process!

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
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