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Author Topic: Britcoin showing price swings of 0.25 to 100 !  (Read 2693 times)
flug
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June 21, 2011, 08:39:16 PM
 #1

http://bitcoincharts.com/markets/britcoinGBP.html

Is this correct info?
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Man From The Future
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June 21, 2011, 09:33:08 PM
 #2

He's not, wrong graph!

http://bitcoincharts.com/charts/britcoinGBP#rg5zig1-minzvztgWzm1g10zm2g25

0.o

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bbjansen
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June 21, 2011, 09:39:16 PM
 #3

:O mad money. Looks a bit shady...
TonyHoyle
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June 21, 2011, 09:40:39 PM
 #4

I hope they were just testing something and the data leaked onto the graphs.

The alternative is someone sold at £0.25 and someone bought at £100, which is plainly nuts.
GeniuSxBoY
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June 21, 2011, 09:42:45 PM
 #5

hax0red.


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GeniuSxBoY
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June 21, 2011, 09:47:31 PM
 #6

just a suggestion...





get your shit and RUN

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bbjansen
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June 21, 2011, 09:48:32 PM
 #7

just a suggestion...





get your shit and RUN
+1 Yeh I would pull out just for a while...
Bitcoin Swami
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June 21, 2011, 09:49:37 PM
 #8

maybe someone accidently hit the zero button 2 times on accident while placing an order.
TraderTimm
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June 21, 2011, 09:50:05 PM
 #9

Tradehill Last: 12.65

You guys are completely mental.


fortitudinem multis - catenum regit omnia
ribuck
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June 21, 2011, 09:51:43 PM
 #10

Britcoin matches bids and offers differently to how most exchanges do it. If you post a bid at MtGox, for example, it is first matched against the lowest-priced offer, then works upwards in price from there if more offers are needed to satisfy your bid.

At Britcoin, it seems to work the other way. If you post a bid, it is first matched against any offer at the same price, then works downwards in price if more offers are needed to satisfy your bid. Or at least, it's something like that.

So I think what can happen is that you can bid £100 (for, say, 0.01 BTC) and if there is an offer at £100 then a trade will take place and it will show up on the chart. Similarly, if you offer 0.01 BTC at £0.25 and there is a bid at that price, a trade will take place and it will show up on the chart. But this does not mean that the order book between the high and low prices was ever "worked through".

Oh, and the way you enter bids and offers at Britcoin is "unusual" too. You type a number of BTC and a number of pounds (instead of a rate). So people might occasionally make a stupid mistake.
FreeMoney
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Strength in numbers


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June 21, 2011, 09:53:26 PM
 #11

Apparently making a good market is more like rocket surgery than I thought.

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Jack of Diamonds
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June 21, 2011, 09:57:45 PM
 #12

Tradehill Last: 12.65

You guys are completely mental.



Tradehill
Britcoin

!= The same

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GeniuSxBoY
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June 21, 2011, 09:58:41 PM
 #13

I DON'T TRUST THIS SHIT


LulzSecurity/Anonymous have already said they can hack anything and I actually believe them.

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TraderTimm
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June 21, 2011, 10:03:28 PM
 #14

Tradehill Last: 12.65

You guys are completely mental.



Tradehill
Britcoin

!= The same

My point was that different GBBO's (Global Best Bid/Offers) exist, focusing on bizarro non-crossed trades makes no sense.

fortitudinem multis - catenum regit omnia
timsmith
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June 21, 2011, 10:03:54 PM
 #15

LulzSecurity/Anonymous have already said they can hack anything and I actually believe them.
Well what do you expect? They're hardly going to go public with "we can't hack much and aren't really that good" are they Roll Eyes
phantomcircuit
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June 21, 2011, 10:10:59 PM
 #16

I'm looking into this right now, the 100 GBP trade is likely just someone not understanding the market matching system britcoin uses (it is NOT the same as mtgox).

The other one is likely just bitcoincharts making a mistake.
Bit_Happy
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A Great Time to Start Something!


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June 21, 2011, 10:14:51 PM
 #17

I DON'T TRUST THIS SHIT


LulzSecurity/Anonymous have already said they can hack anything and I actually believe them.

Then why are most banks still filled with "money?"

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phantomcircuit
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June 21, 2011, 10:17:48 PM
 #18

No transaction has gone through on britcoin for less than 5GBP/BTC since 2011-06-10.
GeniuSxBoY
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June 21, 2011, 10:21:06 PM
 #19

I DON'T TRUST THIS SHIT


LulzSecurity/Anonymous have already said they can hack anything and I actually believe them.

Then why are most banks still filled with "money?"


money is a physical object :facepalm:


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GeniuSxBoY
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June 21, 2011, 10:23:37 PM
 #20

also:  http://www.reuters.com/article/2011/06/09/us-citi-idUSTRE7580TM20110609

Major U.S. banks came under growing pressure from banking regulators to improve the security of customer accounts after Citigroup Inc became the latest high-profile victim of a cyber attack.

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