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Question: Is this the last time we see sub-$10K?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21534407 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (142 posts by 32 users deleted.)
UltimateReaper
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May 15, 2013, 07:47:33 PM
 #8501

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.
Please.  You're on *speculation forum*  bitching about an overseas currency exchange.  You are not a saver.  You're a speculator -- chin up, bud!  

I am not a saver, but i wouldn't say that there are not any saver around using mtgox and losing money with MtGox Lag or even at this very moment with their inhability to log into MtGox (or maybe yesterday night with ANOTHER outage).

Whoah. Savers are unaffected by lag -- only traders can get hurt.  The money changers.  Savers are fine (stupid to use Mt.Gox as a bank, but fine otherwise).

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There are some services that need 24x7 SLAs and have to run 99,99% of the time. Mt Gox service compared with another IT company online-rate would compare to a potato chips third league online webpage. They are playing with people's money and they should start to be 24x7. They are hurting all the Bitcoin economy.

The only money Mt.Gox is playing with is that of ultra-high risk traders, who are willing to use Gox's services knowing full well how bad they are.  Part of the game.

Quote
And to those saying (why don't you do it youself?): If my son needs to go to the hospital and they cut off the other leg, i cannot complain because the doctor would say (hey!! why didn't you learn medicine?)

If you took your son to a totally unregulated hospital, and your friends, family & everyone with nothing better to do told you how awful the hospital is, and that wrong legs of children are cut off dayly...  What was the question again?

He actually has a right to be pissed. It's one thing to be screwed by the market itself, but how would you feel if you lost money in your bank account because your bank fucked up?

As for me, this sort of shit is inevitable. How old is BTC? How old is MtGox?

We are taking a journey through the new world, you can't expect less, hell, it should be worse.

EDIT: Though, I'm pretty pissed at America all the time so I don't blame MtGox for any American centric issues.

My point is lousy exchanges are a part of unregulated market (as it stands -- i'm not saying it's intrinsic to lack of regulation).  A trader is responsible for taking all the risks into account.

You're right.

And to be honest, I kind of like this "unregulated" market.
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crumbcake
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May 15, 2013, 07:49:14 PM
 #8502

I should probably post this in the tech/dev section, but since MtGox is down, here's my proposal for a true P2P Bitcoin network independent of DARPA-tainted interwebz:


Where's the sauna vault?  Tongue

+1

I can't see much difference between telemaco's and reptilian logic.  Who would'a thunked the sauna was not secure?  
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May 15, 2013, 07:49:51 PM
 #8503

And to be honest, I kind of like this "unregulated" market.

Me too Cheesy
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May 15, 2013, 07:50:57 PM
 #8504

Bitcoin is $101 at BTC-E right now
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May 15, 2013, 07:52:32 PM
 #8505

Bitcoin is 101 at BTC-E right now
and i thought it washttp://s20.postimg.org/a7drik2t9/image.jpg
UltimateReaper
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May 15, 2013, 07:52:52 PM
 #8506

Bitcoin is 101 at BTC-E right now

the end is neigh

Bitstamp is at 108

I seriously wonder how this is going to end up.
Frozenlock
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May 15, 2013, 07:53:32 PM
 #8507

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.
crumbcake
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May 15, 2013, 07:55:21 PM
 #8508

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.
Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down?  Is there another way to trade through Gox? Huh
Hawker
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May 15, 2013, 07:56:54 PM
 #8509

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.
Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down?  Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade.  Its a pain to get in but once you are there all is good.
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May 15, 2013, 07:58:24 PM
 #8510

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.
Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down?  Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade.  Its a pain to get in but once you are there all is good.

Thanks!  Do they have a range of IPs to ease ddosing?
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May 15, 2013, 08:03:46 PM
 #8511

Thanks!  Do they have a range of IPs to ease ddosing?

I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.
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May 15, 2013, 08:04:13 PM
 #8512

BitStamp dump time again...

we can buy the price back up again with a very small buy.. it's not dumping.. it's a few bitcions beeing traded.
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May 15, 2013, 08:07:21 PM
 #8513

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.
Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down?  Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade.  Its a pain to get in but once you are there all is good.

Thanks!  Do they have a range of IPs to ease ddosing?



BTC-E: yesterday they were sub 100. Big price diffference.
Pzi4nk
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Move over clarinets, I'm getting on the band wagon


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May 15, 2013, 08:08:16 PM
 #8514

After reading the seizure warrent, I'd say: not a huge deal. They target US based money supply. Even the seized banking account at Wells Fargo was only filled with Dwolla cash, which was sent to Japan. It seems Dwolla was the only critical part. As (hopefully) the other funding options (i.e. wire transfer) aren't linked to US accounts, it should be fine.

Lesson learned today: if you want to do business in the US, you have to do proper US paperwork. And tbh this isn't something unexpected.

Any accounts that wire money to Americans are at risk. Generally, it goes offshore bank --> intermediary (US) bank --> customer bank. That's why we get MT Gox wires from Chase NY, etc. Lots of online gambling money gets nabbed by the feds this way. In reality, they can seize offshore accounts where they have existing bank treaties, when there is "cause".

IMO, don't assume this is the end of this. Some thoughts on the subject: https://bitcointalk.org/index.php?topic=200228.msg2114965#msg2114965

Trying to remain positive here, though.

I think what we need is a simple money transfer service (similar to PayPal or Dwolla) that cannot be reversed. Then any individual could easily convert USD/BTC and vice versa.

Any such individual transactions wouldn't need government permission to operate.
fr33d0miz3r
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May 15, 2013, 08:08:23 PM
 #8515

I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.

IP address of mtgox.com is 72.52.5.67.

Info from http://whois.domaintools.com/72.52.5.67

 AS32787 PROLEXIC-TECHNOLOGIES-DDOS-MITIGATION-NETWORK - Prolexic Technologies, Inc. (registered Jul 23, 2004)
samurai1200
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May 15, 2013, 08:08:47 PM
 #8516

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)
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May 15, 2013, 08:11:03 PM
 #8517

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)

Bitcoin is designed to cope with being illegal.  There is a reason Satoshi never revealed his name.  Even if MtGox is killed, we will always have ways to get money in and out of fiat.
KillaMarci
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May 15, 2013, 08:13:14 PM
 #8518

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)

It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out  $'s at the moment they are just holding on to their BTC instead.
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May 15, 2013, 08:16:29 PM
 #8519


I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.

Actually, following up on that... I've noticed a lot of asks/bids with zero quantity scrolling by on clark moody, such as this:



No idea what that's about.
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May 15, 2013, 08:24:11 PM
 #8520

It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out  $'s at the moment they are just holding on to their BTC instead.

It's hard to tell what's going on now since most people can't even get the site to load, but I converted the dollars I had on Gox to BTC and moved them off this morning. I really don't think anything major will come of this Dwolla situation but this morning it was all kinda muddy and I feel better with it in Armory for now.
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