Trading paused?

[Nagle]

Just before Mt. Gox went down, their market depth looked like this (at 1413).

.

That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards.

Did their incoming payment system break down, or what?

This is either incompetence or manipulation. 

[bitclown]

Seriously, they're still relying on one man to operate the service? If MagicalTux gets hit by a Japanese flying bus tomorrow the only thing the rest of the team can do is answer emails?

[TrainDeluxe]

The site has crashed while @ 11.10$. Maybe they are fixing it ...

[Jessynoo]

Guys, did you read my post about what was going on when the trading stopped?
http://forum.bitcoin.org/index.php?topic=26292.0
If my understanding is correct, then this is no surprise TradHill is synchronizing to the big induced pattern occurring on MtGox.
In other times, I have seen both markets influencing each other on uncorrelated accidental events.
Arguably, MtGox has got more inertia to move than the other way around.

[TonyHoyle]

Just before Mt. Gox went down, their market depth looked like this (at 1413).

http://www.downside.com/image/misc/accumulated_orderbook2011--7-05-1413.png.

That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards.

Did their incoming payment system break down, or what?

This is either incompetence or manipulation. 

So someone was gaming the price.. cheap fees make that quite feasable, for a little while anyway.

Not sure why it justifies mtgox shutting down trading.. if they're going to do that every time anything they don't like happens they might as well rename themselves the fed and set the price manually.

[StewartJ]

I am sure it will rocket up unimpeded after the pause.

But I think I am done with GOX, and I have not even ever traded with them ... LOL!

Wondering how CampBX is coming along...

Stew

[gentakin]

That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards.

Well, the bids are at 11$/BTC. The graph only displays down to 12.0

[DamienBlack]

Just before Mt. Gox went down, their market depth looked like this (at 1413).

.

That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards.

Did their incoming payment system break down, or what?

This is either incompetence or manipulation.  

That just indicates that a single person (or a few people) put in a big buy order. I would have too if I had the money. The bids take time to catch up, or it bounces back down a little. It isn't necessarily manipulation. But it could be. Most likely, someone just anticipated a rally and decided to go all in on it, fueling it in the beginning. That isn't really manipulation in my book, just a gamble. If the rally doesn't catch on, he loses money, if it does catch, he got a bunch of bitcoins at a good price.

I have no idea what it'll do after the pause.

[KMBTC11]

So someone was gaming the price.. cheap fees make that quite feasable, for a little while anyway.

Not sure why it justifies mtgox shutting down trading.. if they're going to do that every time anything they don't like happens they might as well rename themselves the fed and set the price manually.

When does that end again?  I wanted to put the expiration date into an order calculator but couldn't remember when the 0% grace period ends.

[TrainDeluxe]

After the pause everybody will sell again

[Rogue Star]

the fact that new back end doesn't seem able to keep up with the trade volume is worrying. continuing to use a mysql database for something like this is even more worrying. i sure hope Tux has something better planned, it is disappointing to see growing pains continue while he should have all the resources that come along with being the #1 exchange. operating as a one man show is just plain scary. i'm still cautiously optimistic as long as there is volume...

[peach]

...and we're back.

edit: With weird-as-hell second-to-second price jumps.

[BobPanda]

open again. isn't it?

[Nagle]

That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards.

Well, the bids are at 11$/BTC. The graph only displays down to 12.0

There was definitely a huge gap between the bid and ask sides, from 11 to 14. But is that a consequence of market action, Mt. Gox screwing up again, or what?

[rb1205]

Roller coaster time

[KMBTC11]

Goddamnit.  Just, Goddamnit so much.

 

[wolftaur]

Roller coaster time

Ungoxingbelievable.

[HideousBeastManGuy]

Price needed as much help as possible to have a chance at breaching 14.2, which is a super key level, and now just lol.

[Serge]

crazy bots

[StewartJ]

From $14 to $12.75, post pause... wtf?