Mt Gox - Some trading bots are out of control spambots

[solex]

Death by a 1000 cuts...
Its a failure that gox or the other dont put a stop to it! They need to filter it out!

Mt Gox is still being spammed with micro-orders and sub-second order cancellations and inserts. This is an abuse of the privilege of a direct exchange interface. Other global exhanges terminate access rights to clients abusing their systems.

Capacity at Mt Gox may now be 50x  greater, but the spambots will eat this up in no time.

Why are they tolerated?

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[dutt]

Bots provide liquidity.

[solex]

Bots provide liquidity.

0.01 is not liquidity.
And multiple orders at the same price is abusing the exchange's system.

Can anyone call this a sensible orderbook?

[chmod755]

Mt Gox is still being spammed with micro-orders and sub-second order cancellations and inserts. This is an abuse of the privilege of a direct exchange interface. Other global exhanges terminate access rights to clients abusing their systems.

Charge a fee of 0.1 BTC for canceling orders if more than 10 orders have been cancelled on this day...

[arnoldrimmer]

Bots provide liquidity.

0.01 is not liquidity.
And multiple orders at the same price is abusing the exchange's system.

Can anyone call this a sensible orderbook?

Were can I look this list up???

[dutt]

Were can I look this list up???

http://bitcoin.clarkmoody.com/

[Sage]

This is an obvious engineered attack to keep the exchange clogged.

Mtgox are idiots for suspending trading fees and not putting in a minimum trade.

Time for a decentralized exchange.

[Villem Anton]

The exchange rules employed by mtgox enables this kind of order spam.

Mtgox are real amateurs. There should be a minimum order size, and there should be a minimum price difference to the nearest order price. This will make bots weigh cost-benefit of orders so that they cannot swamp the system. With good rules bots can provide liquidity.

[darkmule]

Disincentivize brute-force spamming of the order system by making it costly and people will stop doing it, or else go broke and the same result will happen.  Assuming this is just bad bot design and not a deliberate DDoS of some sort.

[jerkoff]

Someone is trying to manipulate, but it's not working. They enter 100 of those 0.01 trades, and then they get filled by one order of 1 coin, split into their 0.01 amounts and sold in a second, and those big block orders of hundreds of coins are more important.

[2weiX]

the exchange i work at has an excessive-usage-fee.
if you don't have one trade per X orders, you pay Y per order.

[arnoldrimmer]

Drop stoppet at 55$ and gone upt to 75$

WTF??

[solex]

New spambot behavior. Sub-second buys and sells at prices only ticks apart. (micro-orders as well).

Question for Mt Gox - why aren't the people who own these banned for long periods or completely?

[Furyan]

New spambot behavior. Sub-second buys and sells at prices only ticks apart. (micro-orders as well).

Question for Mt Gox - why aren't the people who own these banned for long periods or completely?

Because they're using 1000 accounts to do this - botnets spread all over the world.  It's exceedingly difficult to match the owner to the behavior. The only way to eliminate it is to make it very expensive to do this.

[MPOE-PR]

Mt Gox is still being spammed with micro-orders and sub-second order cancellations and inserts. This is an abuse of the privilege of a direct exchange interface. Other global exhanges terminate access rights to clients abusing their systems.

The cancel cycle on MPEx is not significantly different. Why and how is this abuse?