Bitcoin Forum
December 07, 2016, 08:47:13 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: What's up now? No, somebody is teasing the market with $2.99 small BTC trades ( A real sell off or another breach? MtGox says BTC is $2.99)  (Read 2392 times)
Veldy
Member
**
Offline Offline

Activity: 98



View Profile
July 02, 2011, 03:18:32 AM
 #1

<end of message>

EDIT: Just as quick back up to $15.47.  Somebody is playing games.  The time stamp of this message is VERY CLOSE to when it occurred.

If you have found my post helpful, please donate what you feel it is worth: 18vaZ4K62WiL6W2Qoj9AE1cerfCHRaUW4x
1481100433
Hero Member
*
Offline Offline

Posts: 1481100433

View Profile Personal Message (Offline)

Ignore
1481100433
Reply with quote  #2

1481100433
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481100433
Hero Member
*
Offline Offline

Posts: 1481100433

View Profile Personal Message (Offline)

Ignore
1481100433
Reply with quote  #2

1481100433
Report to moderator
1481100433
Hero Member
*
Offline Offline

Posts: 1481100433

View Profile Personal Message (Offline)

Ignore
1481100433
Reply with quote  #2

1481100433
Report to moderator
Matarael
Newbie
*
Offline Offline

Activity: 24


View Profile
July 02, 2011, 03:19:52 AM
 #2

Back to normal it seems.
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
July 02, 2011, 03:21:35 AM
 #3

Sorry I just had to swap my money to a different exchange

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
zhalox
Full Member
***
Offline Offline

Activity: 175


XMR = BTC in 2010. Rise chikun.


View Profile
July 02, 2011, 03:27:46 AM
 #4

Yes, but how the heck did this happen? There were large bids way above $2.99. I've been seeing strange things at Mt. Gox lately ever since they got hacked.  I miss the old Mt. Gox, back when websockets used to work, etc. Sad

Bazil
Full Member
***
Offline Offline

Activity: 126


View Profile
July 02, 2011, 03:34:17 AM
 #5

I think this is a bug, the same one people have already pointed out.

17Bo9a6YpXN2SbwY8mXLCD43Wup9ZE4rwm
Bazil
Full Member
***
Offline Offline

Activity: 126


View Profile
July 02, 2011, 03:38:02 AM
 #6

I just checked it seems like what happened is the order book got cleared.  I just check and it only had a few dozen orders in it

17Bo9a6YpXN2SbwY8mXLCD43Wup9ZE4rwm
Veldy
Member
**
Offline Offline

Activity: 98



View Profile
July 02, 2011, 03:40:57 AM
 #7

Some idiot is playing around .. trying to trigger a panic would be my guess.

Jul 2, 2011, 03:34:01   2.99000   0.10   
Jul 2, 2011, 03:33:10   2.99000   1.52
Jul 2, 2011, 03:13:02   2.99000   0.47

If you have found my post helpful, please donate what you feel it is worth: 18vaZ4K62WiL6W2Qoj9AE1cerfCHRaUW4x
Veldy
Member
**
Offline Offline

Activity: 98



View Profile
July 02, 2011, 03:50:43 AM
 #8

Yes, but how the heck did this happen? There were large bids way above $2.99. I've been seeing strange things at Mt. Gox lately ever since they got hacked.  I miss the old Mt. Gox, back when websockets used to work, etc. Sad

Yeah, you wouldn't expect the "last trade" to show as $2.99; if anything, it would be the first gobbled up with the standing bids out there.

If you have found my post helpful, please donate what you feel it is worth: 18vaZ4K62WiL6W2Qoj9AE1cerfCHRaUW4x
Bit_Happy
Legendary
*
Offline Offline

Activity: 1442


A Great Time to Start Something!


View Profile
July 02, 2011, 03:52:52 AM
 #9

It's a serious bug. Every buy order instantly gets sold, sometimes for only $2.99.
Is this happening to other people, or just my account?

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
TurboK
Full Member
***
Offline Offline

Activity: 137



View Profile
July 02, 2011, 04:06:07 AM
 #10

It's a serious bug. Every buy order instantly gets sold, sometimes for only $2.99.
Is this happening to other people, or just my account?
It doesn't happen on my end.

12zJNWtM2HknS2EPLkT9QPSuSq1576aKx7

Tradehill viral bullshit code: TH-R114411
Bit_Happy
Legendary
*
Offline Offline

Activity: 1442


A Great Time to Start Something!


View Profile
July 02, 2011, 04:07:33 AM
 #11

It's a serious bug. Every buy order instantly gets sold, sometimes for only $2.99.
Is this happening to other people, or just my account?
It doesn't happen on my end.

Thanks, why me....?

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
TurboK
Full Member
***
Offline Offline

Activity: 137



View Profile
July 02, 2011, 04:12:17 AM
 #12

Wait, so you can buy btc for as low as 3$ instantly? Have you tried selling that btc back at 15$, buying more btc, and repeating?

12zJNWtM2HknS2EPLkT9QPSuSq1576aKx7

Tradehill viral bullshit code: TH-R114411
Bit_Happy
Legendary
*
Offline Offline

Activity: 1442


A Great Time to Start Something!


View Profile
July 02, 2011, 04:20:01 AM
 #13

They are fixing it now:
Cancel trade: Matching error (BTC sold: [tid:1309577590796944] 1.500000 ฿TC at $2.99000)

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
Veldy
Member
**
Offline Offline

Activity: 98



View Profile
July 02, 2011, 04:40:44 AM
 #14

Wait, so you can buy btc for as low as 3$ instantly? Have you tried selling that btc back at 15$, buying more btc, and repeating?

Did you look at my post?  Somebody was selling small number of coins, as few as 0.10BTC at $2.99.  Your chances of intentionally buying from this creep are small and the profit of reselling at market price is small ..the largest I think sold was 1.54BTC (as far back in history as I went anyway).

If you want to kill the guy off and snag a few, put a standing buy order out for $2.99 and as many BTC as you have funds in your account  [which I don't trust leaving on that exchange for long].  He'll get sick of losing his bits and ideally MtGox fixes the last trade issue (they probably won't be aware of it for weeks knowing them) since it is almost certain that the last trade would not be for $2.99 for more than a split second with the amount of coins that was asking for $2.99 (0.10-1.54BTC when I looked).

If you have found my post helpful, please donate what you feel it is worth: 18vaZ4K62WiL6W2Qoj9AE1cerfCHRaUW4x
Veldy
Member
**
Offline Offline

Activity: 98



View Profile
July 02, 2011, 04:42:35 AM
 #15

They are fixing it now:
Cancel trade: Matching error (BTC sold: [tid:1309577590796944] 1.500000 ฿TC at $2.99000)

Really?  They actually noticed?  How about the "last trade" issue?

If you have found my post helpful, please donate what you feel it is worth: 18vaZ4K62WiL6W2Qoj9AE1cerfCHRaUW4x
ascent
Jr. Member
*
Offline Offline

Activity: 56


View Profile
July 02, 2011, 04:49:52 AM
 #16

Such a confidence inspiring operation...

Please donate: 1E4WizTzmANGZgyK1XBqS3h4VuXsBXo4Ev
Bit_Happy
Legendary
*
Offline Offline

Activity: 1442


A Great Time to Start Something!


View Profile
July 02, 2011, 04:59:19 AM
 #17

They are fixing it now:
Cancel trade: Matching error (BTC sold: [tid:1309577590796944] 1.500000 ฿TC at $2.99000)

Really?  They actually noticed?  How about the "last trade" issue?

I don't know if they noticed (today's bogus low price on the ticker), or saw my support ticket.
"Selling" 1.5 BTC for only $2.99 made my balance unexpectedly lower.

15DYJpWJe9H1YofsNQbP9JEWWNn7XPZgbS
Maged
Legendary
*
Offline Offline

Activity: 1260


View Profile
July 02, 2011, 05:17:13 AM
 #18

They are fixing it now:
Cancel trade: Matching error (BTC sold: [tid:1309577590796944] 1.500000 ฿TC at $2.99000)

Really?  They actually noticed?  How about the "last trade" issue?

I don't know if they noticed (today's bogus low price on the ticker), or saw my support ticket.
"Selling" 1.5 BTC for only $2.99 made my balance unexpectedly lower.
They noticed. In fact, jed called MagicalTux over this.

Nagle
Legendary
*
Offline Offline

Activity: 1204


View Profile WWW
July 02, 2011, 05:21:55 AM
 #19

This situation is called a "crossed market", and it happens all the time in the real world.  But in the real world, it happens because there are multiple interconnected markets, and one market can lock or cross another.  Each individual market has rules to deal with the problem.

Island (a system used by big traders to trade US stocks)  like Mt. Gox, runs entirely on limit orders. Island's solution to this problem is to reject orders which will result in a locked or crossed market. That's probably what Mt. Gox should be doing. 

There are other potential solutions, but just rejecting the limit order is probably the simplest.

Mt. Gox needs to publish their market rules.
dinzy
Member
**
Offline Offline

Activity: 98


Fuck Intel!


View Profile
July 02, 2011, 01:13:33 PM
 #20

Where have you people been all week?  These errant points have been popping up since the reopening for both high and low prices. 

Just now there is one showing 16.7. 
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!