cee-euros
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Activity: 88
Merit: 10
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February 10, 2014, 05:43:28 PM |
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Btc-e madness totally messed up the charts can't read them properly
can we get bitcoinwisdom to strike it from the record?
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magicmexican
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February 10, 2014, 05:46:11 PM |
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Btc-e madness totally messed up the charts can't read them properly
can we get bitcoinwisdom to strike it from the record?
That would be rude, the guy lost a lot of money, but at least he made history, do not take it away from him. |
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Adrian-x
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Activity: 1372
Merit: 1000
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February 10, 2014, 05:50:44 PM |
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it was probably a trader that stayed up all night to read the gox update, when it finally came in, he thought this is it the protocol is broken, and sold in a panic thinking the price would not bounce back because "this is the end of bitcoin"
and yes traders should have low ball orders for panic sells like this
probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells
To be honest we have grown 2 orders of magnitude, and when you trade in a foreign currency you sometimes make mistakes. I think he hit sell at $60 not 600 thinking mBTC. I think he is OK. Got most of his order filled at a good price. Definitely lack of sleep. |
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delphic
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February 10, 2014, 05:51:29 PM |
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It's cool, they are most likely insolvent anyway. I wonder how much money did they make on this crash. I doubt they haven't foreseen it and "helped" it a little. Found this post on another forum: Did anyone notice that the sell off started 20 minutes earlier on MT. Gox.
When their statement came out the Bitcoin price was almost at the bottom.
Looks like insider trading to me or MT. Gox manipulating the price for their gain.
Hmmmmmmmmm...... |
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jatajuta
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February 10, 2014, 05:51:47 PM |
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and yes traders should have low ball orders for panic sells like this
probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells
The problem is when you have an open order since friday and it doesn't get filled when it should. I didn't get filled even when gox reached 500. Ridiculous. Open order my ass. This happened to me as well. I had a substantial buy set for months at 505 - it did not get filled when we touched 500. I can't understand how that happened, if it was an open order how could get pass and sell at 500 when both of us were willing to buy at 505-506? |
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JorgeStolfi
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February 10, 2014, 05:52:23 PM |
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Btc-e madness totally messed up the charts can't read them properly
can we get bitcoinwisdom to strike it from the record?
That would be confusing to everyone who reads about the incident and tries to find it in the charts. However it would be nic if bitconwisdom provided a way for the user to change the min price on the vertical scale... |
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BitcoinAshley
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February 10, 2014, 05:53:33 PM |
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In today's paper:  (Note that he is holding a small coin with a "B" on it) |
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Mythul
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February 10, 2014, 05:54:27 PM |
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What if the whale which dropped all those bitcoins was right and he knew what he was doing  ? |
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chrisLG
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February 10, 2014, 05:54:32 PM |
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Mt.Gox - their wallet does not seem to be their only problem.
I can't understand how that happened, if it was an open order how could get pass and sell at 500 when both of us were willing to buy at 505-506?
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delphic
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February 10, 2014, 05:55:21 PM |
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this is another reason why alt cons suck balls, its bitcoin that is paving the way, will these alts really be put to the same kind of stress test as bitcoin? i think not. therefore the are way less valuable.
Good point, though some ( a few) of the 'serious' alts may well incorporate Bitcoin fixes where applicable, and may have serious developers of their own. |
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deeplink
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February 10, 2014, 05:55:29 PM |
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and yes traders should have low ball orders for panic sells like this
probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells
The problem is when you have an open order since friday and it doesn't get filled when it should. I didn't get filled even when gox reached 500. Ridiculous. Open order my ass. This happened to me as well. I had a substantial buy set for months at 505 - it did not get filled when we touched 500. I can't understand how that happened, if it was an open order how could get pass and sell at 500 when both of us were willing to buy at 505-506? We noticed this days ago. Sometimes trades happen below what is possible according to the bid depth. I believe it happened a couple of times when we were at $912 and trades went through around $900 while there was enough bid depth above $900. Must be another bug that Gox can blame someone else for. Edit: https://bitcointalk.org/index.php?topic=178336.msg4953698#msg4953698 and onwards |
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magicmexican
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February 10, 2014, 05:56:11 PM |
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Problem is, didnt Gox kinda check-mated himself? Even if they would allow btc withdraw tomorrow, who will trade there? I would assume 90+% of people would get get the fuck out with their coins out of there.
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bitdig
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February 10, 2014, 05:57:48 PM |
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There is a chance for another scenario BTC-E owners sold their own 8.5k of BTC to drag the price that down, to hit all stop loss of orders with 1:3 leverage on their MT4 platform. Few months ago, I got my account wiped out with $35k in Metatrader with 1:3 leverage,the interesting thing is that on all exchanges price did not went under $425, but on btc-e it just triggered my margin call at $375 and went up from there. I felt that the price was manipulated just to wipe my account... Here might be the same scenario.. 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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stompix
Legendary
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Activity: 2884
Merit: 6310
Blackjack.fun
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February 10, 2014, 05:57:52 PM |
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What if the whale which dropped all those bitcoins was right and he knew what he was doing ? Well , every passing second in which bitcoin is trading above 600 shows that he was wrong. |
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Vigil
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February 10, 2014, 05:58:12 PM |
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It's cool, they are most likely insolvent anyway. How can they be insolvent? The Bitcoinfoundation needs no funds as the members hold large stashes of bitcoin. No one should be sending them any donations. |
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magicmexican
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February 10, 2014, 05:58:51 PM |
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What if the whale which dropped all those bitcoins was right and he knew what he was doing ? Lol no, people who know what they are doing do not lose money. If he was acting on some kind of "inside info" it would be done differently, there was zero reasons to market dump on the peak of the panic. |
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cee-euros
Member
Offline
Activity: 88
Merit: 10
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February 10, 2014, 06:00:19 PM |
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Btc-e madness totally messed up the charts can't read them properly
can we get bitcoinwisdom to strike it from the record?
That would be confusing to everyone who reads about the incident and tries to find it in the charts. However it would be nic if bitconwisdom provided a way for the user to change the min price on the vertical scale... They could put a caption like on soundcloud As magicmexican said the guy/bot who sold deserves the candle up there, it was a pretty special minute. |
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humanitee
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February 10, 2014, 06:01:14 PM |
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It's cool, they are most likely insolvent anyway. How can they be insolvent? The Bitcoinfoundation needs no funds as the members hold large stashes of bitcoin. No one should be sending them any donations. I meant Gox is insolvent, they can't buy time with this excuse now.
and yes traders should have low ball orders for panic sells like this
probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells
The problem is when you have an open order since friday and it doesn't get filled when it should. I didn't get filled even when gox reached 500. Ridiculous. Open order my ass. This happened to me as well. I had a substantial buy set for months at 505 - it did not get filled when we touched 500. I can't understand how that happened, if it was an open order how could get pass and sell at 500 when both of us were willing to buy at 505-506? We noticed this days ago. Sometimes trades happen below what is possible according to the bid depth. I believe it happened a couple of times when we were at $912 and trades went through around $900 while there was enough bid depth above $900. Must be another bug that Gox can blame someone else for. Edit: https://bitcointalk.org/index.php?topic=178336.msg4953698#msg4953698 and onwards This has actually been going on for as long as I can remember. |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 10, 2014, 06:02:12 PM |
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 Done with Gox Explanation |
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MAbtc
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February 10, 2014, 06:04:05 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. I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations. |
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