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Author Topic: Mtgox hit $2.99  (Read 8296 times)
XRcode
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July 02, 2011, 04:05:25 AM
 #41

Nothing would ever be sold lower then the highest bid price, thats for sure.
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clonedone
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July 02, 2011, 04:07:33 AM
 #42

i really hope magical tux removes that... it shouldnt have sold for 2.99 if there are ppl willing to pay 10 bucks, 9 bucks, 8 bucks and so on.
shouldnt the person who wanted to sell a coin at 2.99 receive the lowest asking price for it? most likely 15 bucks give or take

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July 02, 2011, 04:08:09 AM
 #43

You would be able to directly deposit USD, you would get the current exchange rate on converting it into CAD upon entering the trading account.

id be interested. but for the exchange to work, a considerable amount of people are going to need to use it...thats what gox has/had going for it...id be willing to be an early adopter though.
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July 02, 2011, 04:08:32 AM
 #44

If I were to take the time to setup a secure exchange, how many people would be interested in trading BTC with Canadian dollars??
I would like to see a Canadian exchange, volume is a huge factor though.

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July 02, 2011, 04:09:16 AM
 #45

If I were to take the time to setup a secure exchange, how many people would be interested in trading BTC with Canadian dollars??
I think you are underestimating the difficulty of setting up a secure site.  When there are millions of dollars on the line, suddenly every hacker in the world is gonna put all their effort on breaking your site.  And they always win in the long run.

The Mt. Gox debacle should give you some pause.

Anyway, I think that new secure exchange site coming up in a few days will trade in multiple currencies.
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July 02, 2011, 04:12:41 AM
 #46

If you look at the low for Mt. Gox now, it is saying $15.4.  So they scrubbed the $2.99 trade.  I'm guessing it is test data they forgot to remove from production.


im still showing a 2.99 low on mtgox...15.4 is the current price.
Bitcoincharts.com is showing a low of 15.4.  Gox is still goxed at 2.99
XRcode
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July 02, 2011, 04:12:41 AM
 #47

Not to be rude, but I am a network security specialist. I am well aware of what would be required in setting up a secure exchange both technically and legally.
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July 02, 2011, 04:18:14 AM
 #48

Not to be rude, but I am a network security specialist. I am well aware of what would be required in setting up a secure exchange both technically and legally.

Really depends.  CaVirtEx is in beta for quite some time; I guess it would have to depend on what you can offer compared to them
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July 02, 2011, 04:18:14 AM
 #49

Not to be rude, but I am a network security specialist. I am well aware of what would be required in setting up a secure exchange both technically and legally.
I don't doubt you know about security.  It is just that even the biggest banks get hacked with their hundreds of security experts.  I wonder how you are going to do better with very limited resources.

Maybe you can do all this yourself.  It will be interesting to see.  Expect a high stress level Smiley
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July 02, 2011, 04:19:01 AM
 #50

If I were to take the time to setup a secure exchange, how many people would be interested in trading BTC with Canadian dollars??

I'd be interested

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July 02, 2011, 04:20:49 AM
 #51

but the trade price should be still around 15.4 right?
Hunterbunter
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July 02, 2011, 04:23:52 AM
 #52

Is it possible MtGox pleases the seller's price?

Like...if I'm current highest bid @ 15.4, and you're the lowest seller @ 15.5: Someone puts in a sell for $3, wouldn't I, being the highest bid, pay $3? That's pleasing the seller and assuming I'm first in line.

In reverse, if gox is pleasing the seller, if I put a bid for $1000 for 1 btc, won't I just pay 15.5?

Somehow, somewhere, there has to be a fixed decision made on who's price is taken when prices overlap.
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July 02, 2011, 04:24:12 AM
 #53

Thats enough for me lol

I think I will open an exchange for Canadian dollars.
I will look into what kind of accounts will be necessary to facilitate deposit/withdrawl in Canada and maybe make an exchange site.

fuck ya I'll be on that for sure

XRcode
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July 02, 2011, 04:30:36 AM
 #54

It's nice to see right away that there would be an interest in a Canadian exchange.

I have just registered the domain xbtc.ca and I will start work on coding a secure, user friendly interface.


I can't promise you guys a timeframe... This will be a HUGE project... but I have alot of time on my hands and I would like to bring something to the bitcoin community.
I will take my time and do it right. Hopefully we can have something operational in six to eight months.

Glad to see an interest and will see you all on xbtc.ca in the future Cheesy
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July 02, 2011, 04:34:14 AM
 #55

Build it guys. Canada needs it.
XRcode
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July 02, 2011, 04:37:52 AM
 #56

Yes, Canada does need it.

I did it for my country Tongue

xbtc.ca coming soon... as soon as I can code it, get a lawyer, and the appropriate accounts it will be here.
bitfon
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July 02, 2011, 04:40:56 AM
 #57

I frequently see bids that are greater than asks on the Gox ticker API, and even in their trading UI.  The ticker often bears little resemblance to the order book.

Amateurs.

And yet they've got the most liquid market, narrow spreads and faster transfers in/out for USD and BTC.

What are you gonna do?

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evolve
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July 02, 2011, 04:57:24 AM
 #58


If you look at the low for Mt. Gox now, it is saying $15.4.  So they scrubbed the $2.99 trade.  I'm guessing it is test data they forgot to remove from production.



low price on mtgox shows 15.26 now

what the hell is going on?
toddbethell
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July 02, 2011, 05:08:12 AM
 #59

About half and hour ago I sent a message to both Mt.Gox and Bitcoin Charts asking for these to anomalies to be erased.  I was told that Mark is up and working on it. No explanations yet but at lease he has erased it. now I'm hoping it will be erased from Bitcoin Charts before the weekend traders see it on Saturday morning.  If you know what I mean.

Todd Bethell, CFM, MBA
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mizerydearia
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July 02, 2011, 05:18:42 AM
 #60

The data seems to be censored/deleted/removed from mtgox.com data files.

Here's from #bitcoin-market on freenode:

Code:
Jul02 03:13:02 mtgox        0.4691 @     2.99       USD
Jul02 03:33:02 mtgox        8.8963 @    15.4051     USD
Jul02 03:33:05 mtgox        9.0000 @    15.40509    USD
Jul02 03:33:09 mtgox        1.5237 @    15.40509    USD
Jul02 03:33:09 mtgox        1.5237 @    15.4054     USD
Jul02 03:33:09 mtgox        1.5237 @    15.4054     USD
Jul02 03:33:10 mtgox        1.5237 @    15.4054     USD
Jul02 03:33:10 mtgox        1.5237 @    15.4054     USD
Jul02 03:33:10 mtgox        1.5237 @     2.99       USD
Jul02 03:33:54 mtgox        0.1000 @    15.4054     USD
Jul02 03:33:54 mtgox        0.1000 @    15.4054     USD
Jul02 03:33:54 mtgox        0.1000 @    15.4054     USD
Jul02 03:34:01 mtgox        0.1000 @     2.99       USD
Jul02 03:36:15 mtgox        2.0000 @    15.4055     USD

<MagicalTux> trades 1309576382390945, 1309577590796944 and 1309577641517737 were executed at a wrong amount due to a bug, so they were fixed and re-executed under a new tid
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