spooderman
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Activity: 1638
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February 10, 2014, 04:34:06 PM |
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srsly tho, some people bought coins for 100 fucking bux on btc-e. wow. that is 6x ur money in a day.
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Adrian-x
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Activity: 1372
Merit: 1000
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February 10, 2014, 04:36:08 PM |
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So WTF, a market order dropping btc-e to 100 is real?
I've been saved a fiew time by market orders when I sell 1 decimal too low, but this looks crazy.
Also what's up with Hong Kong, that volume can't be real?
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yannis7777
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Activity: 84
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February 10, 2014, 04:36:55 PM |
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It is interesting to see where this goes. The market will decide but Gox seems to manipulate it.
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Adrian-x
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Activity: 1372
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February 10, 2014, 04:37:08 PM |
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srsly tho, some people bought coins for 100 fucking bux on btc-e. wow. that is 6x ur money in a day.
This is how Bitcoin grows. Love it. |
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podyx
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Activity: 2338
Merit: 1035
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February 10, 2014, 04:37:48 PM |
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So WTF, a market order dropping btc-e to 100 is real?
I've been saved a fiew time by market orders when I sell 1 decimal too low, but this looks crazy.
Also what's up with Hong Kong, that volume can't be real?
how much volume HK got? |
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adamstgBit
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Activity: 1904
Merit: 1037
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February 10, 2014, 04:38:48 PM |
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srsly tho, some people bought coins for 100 fucking bux on btc-e. wow. that is 6x ur money in a day.
ya crazyness but problems with the core tech is gana do that kind of thing... |
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MAbtc
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February 10, 2014, 04:38:53 PM |
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Bitstamp is back to the niveau before the Gox news  A lot of pigs got slaughtered. I'm just wondering if the one who sold 8.5k BTC with a market order on BTC-E taking the price down to $102 is a mentally challenged trader who went full retard or just a poor guy who got his account hacked. He lost MILLIONS to the lucky bastards that had bids down to $100 on BTC-E. Somebody six-folded his money in a couple of seconds. Pretty sure this was a cascade of forced liquidations, not one actor. |
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Adrian-x
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Activity: 1372
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February 10, 2014, 04:42:36 PM |
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WTF btc-e droped too 100!
this is wild
any update from gox yet?
I think a large fish is checking btc-e solvency with the drop. This I think is bearish for the future price bullish as someone is stress testing Bitcoins peripheral infrastructure. |
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Rampion
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Activity: 1148
Merit: 1018
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February 10, 2014, 04:45:20 PM |
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Bitstamp is back to the niveau before the Gox news A lot of pigs got slaughtered. I'm just wondering if the one who sold 8.5k BTC with a market order on BTC-E taking the price down to $102 is a mentally challenged trader who went full retard or just a poor guy who got his account hacked. He lost MILLIONS to the lucky bastards that had bids down to $100 on BTC-E. Somebody six-folded his money in a couple of seconds. Pretty sure this was a cascade of forced liquidations, not one actor. Well, 8.5k coins were sold in the same minute. That was either: a) one single trader going full retard b) one huge account got hacked c) multiple accounts were hacked and were liquidated simultaneously The fact remains that some bastards got HUNDREDS of coins at $102. I guess the risk of having fiat on BTC-E paid off big time. EDIT: THOUSANDS of coins in the $100-$200 range The seller/s lost MILLIONS to those who had the low bids. |
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bjornw
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February 10, 2014, 04:46:26 PM |
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 I think I know what's going on.... |
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Adrian-x
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Activity: 1372
Merit: 1000
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February 10, 2014, 04:47:52 PM |
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So WTF, a market order dropping btc-e to 100 is real?
I've been saved a fiew time by market orders when I sell 1 decimal too low, but this looks crazy.
Also what's up with Hong Kong, that volume can't be real?
how much volume HK got? |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 10, 2014, 04:50:16 PM |
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So WTF, a market order dropping btc-e to 100 is real?
I've been saved a fiew time by market orders when I sell 1 decimal too low, but this looks crazy.
Also what's up with Hong Kong, that volume can't be real?
how much volume HK got? wow |
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KFR
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February 10, 2014, 04:50:41 PM |
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but problems with the core tech is gana do that kind of thing...
Not really a core tech problem. This price action was caused by irresponsible communication from an irresponsible exchange trying to spread blame around for its own technical shortcomings. It would be really helpful if the Bitcoin Foundation and other interested parties were a bit more proactive about challenging Gox. Perhaps if they had been more vigilant and engaged with Gox earlier this could have been avoided. Statements like this are nowhere near strong enough IMHO: https://bitcoinfoundation.org/blog/?p=418I really wonder if the current composition of the board is appropriate. |
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mah87
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Activity: 756
Merit: 500
-Bitcoin & Ripple-
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February 10, 2014, 04:50:47 PM |
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New order types coming soon!
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bjornw
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February 10, 2014, 04:51:44 PM |
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Bitstamp is back to the niveau before the Gox news A lot of pigs got slaughtered. I'm just wondering if the one who sold 8.5k BTC with a market order on BTC-E taking the price down to $102 is a mentally challenged trader who went full retard or just a poor guy who got his account hacked. He lost MILLIONS to the lucky bastards that had bids down to $100 on BTC-E. Somebody six-folded his money in a couple of seconds. Pretty sure this was a cascade of forced liquidations, not one actor. There were some major margin call on Bitfinex -> Bitstamp, maybe BTCE joust followed |
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cbutters
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February 10, 2014, 04:53:18 PM |
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This is just pure speculation....
But could it be possible that the sell out down to 105 on BTCe could possibly be a mind game with the intent to remind all the speculative traders to put more orders in to buy coins? The net effect being that there will be a lot more buy orders on the books because of this, thus increasing confidence on the buy side of the order book and potentially creating price pressure to make the price go up?
For example, personally I trade very little, I keep my coin off the exchanges unless I am doing a bit of buying here and there, but I haven't ever really put in a bunch of wishful thinking low buy orders, now I am considering it! Would a lot more buy orders on the order book even at lower / ridiculous levels raise the price of bitcoins?
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 10, 2014, 04:57:33 PM |
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New order types coming soon!
what do you mean? |
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Rampion
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Activity: 1148
Merit: 1018
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February 10, 2014, 04:58:32 PM |
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New order types coming soon!
what do you mean? Don't feed the troll pls. |
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fluidjax
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February 10, 2014, 04:59:05 PM |
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This is just pure speculation....
But could it be possible that the sell out down to 105 on BTCe could possibly be a mind game with the intent to remind all the speculative traders to put more orders in to buy coins? The net effect being that there will be a lot more buy orders on the books because of this, thus increasing confidence on the buy side of the order book and potentially creating price pressure to make the price go up?
For example, personally I trade very little, I keep my coin off the exchanges unless I am doing a bit of buying here and there, but I haven't ever really put in a bunch of wishful thinking low buy orders, now I am considering it! Would a lot more buy orders on the order book even at lower / ridiculous levels raise the price of bitcoins?
Thats a very expensive way to send a message, ($1M+) |
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spooderman
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Activity: 1638
Merit: 1022
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February 10, 2014, 04:59:33 PM |
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core tech? adam, I know you're just up, but seeing as this is your thread I feel the need to make sure you properly get this (assuming my understand is correct):
gox has blamed a bug in the btc protocol. It is actually not a bug, it's just how btc works at the moment. and work it does. what gox has done is used the wrong data to perform a task, when there is data that is reliably usable. Other exchanges have not made this mistake.
Saying this is the fault of bitcoin is inaccurate.
However, if you are calling gox's code "core tech" that is actually semi-reasonable given that it is responsible for so much movement of btc.
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