"TheInternet" Bot - Doing Something with Trades - How long? What happens after?

[elk-tamer]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations. They basically lack the critical thinking ability to understand why the bitcoin exchanges are HILARIOUSLY corrupt ON PRINCIPAL and certainly are not in their best interests to use. Especially Gox.

The majority of the market is miners selling to speculators.  The miners don't care about the trustworthiness of the exchanges because they're just convenient BTC to USD machines.  The speculators are generally just amateur day-traders who aren't intelligent or affluent enough to play in a real market like FOREX, and will use whatever is available to then, trustworthy or not.

And the zealots that foresee a glorious future for bitcoin?  Well, generally cult members lack the cognitive capacity to understand their plight, despite the protestations of those around them.

Well thank God you're here to balance things out then.

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[cypherdoc]

I woudn't say they're shit, it just depends on your perspective.  I think there's enough profit potential in the exchanges that I created my bot.  That would imply I don't think they are shit.  I have to hold inventory of bitcoin and USD, so I'm unfortunately forced to be a speculator when I don't want to, but I've accepted that risk for now.

The TL;DR version would be that I'm astounded at the level of trust this forum has with the major exchanges.  They just assume they'll do the right thing in the face of tremendous temptation.  I mentioned frontrunning in my last post, but MtGox could fix price at it suits them and the rest of the exchanges would follow.  That makes frontrunning look mild.  They could also come up with clever ways to have market-mulligans by rolling back trades  .

If anything is shit, it's the mentality of this forum.  That you're a hater if you question the exchanges or point out obvious flaws.  I want bitcoin to work as much as the next guy, but that doesn't mean I'm just going to ignore obvious hurdles and opportunities for unethical behavior.  As they say, absolute power corrupts absolutely, and right now MtGox has that type of power until some other exchange can draw a large share of the market.

why do you keep saying they have dark orders?  they've eliminated that option.

[cypherdoc]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

[Synaptic]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

I'm not frustrated by society. I'm quite content to use USD or any other fiat currency.  I'm not fretting about governmental fiscal policy or any other of the non-sense ailments that bitcoiners hope to cure with their evangelism.

My time would be better spent doing any number of other more productive things, but I have a compulsion to engage in cheap entertainment and this forum offers plenty of it. Additionally, when presented rarely, it gives a good opportunity to engage in meaningful debate. But rarely.

[RogerR]

why do you keep saying they have dark orders?  they've eliminated that option.

I'm curious about an answer to this question myself. I have not read any notification concerning the elimination of dark-pool trading, it just went poof after the crash.

It could be that instead of showing up and just not being usable for people with a sub-$10k balance in their accounts, it simply doesn't even show up for them at all anymore, while in the meantime still being a viable option for those who do have that kind of cash.

Plus, judging from Adams remark to that guy who placed an inquiry a few days back to sell 50-100k bitcoins on their platform, there could be an OTC dark pool option (as in, mail Adam or Mark and they place a dark pool order for you).

It would be nice if someone with knowledge said something about this.

[cypherdoc]

why do you keep saying they have dark orders?  they've eliminated that option.

I'm curious about an answer to this question myself. I have not read any notification concerning the elimination of dark-pool trading, it just went poof after the crash.

It could be that instead of showing up and just not being usable for people with a sub-$10k balance in their accounts, it simply doesn't even show up for them at all anymore, while in the meantime still being a viable option for those who do have that kind of cash.

Plus, judging from Adams remark to that guy who placed an inquiry a few days back to sell 50-100k bitcoins on their platform, there could be an OTC dark pool option (as in, mail Adam or Mark and they place a dark pool order for you).

It would be nice if someone with knowledge said something about this.

no, there are no more dark orders from someone who has had >10K in his acct.

[cypherdoc]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

I'm not frustrated by society. I'm quite content to use USD or any other fiat currency.  I'm not fretting about governmental fiscal policy or any other of the non-sense ailments that bitcoiners hope to cure with their evangelism.

My time would be better spent doing any number of other more productive things, but I have a compulsion to engage in cheap entertainment and this forum offers plenty of it. Additionally, when presented rarely, it gives a good opportunity to engage in meaningful debate. But rarely.

LOL!

[HideousBeastManGuy]

As for darkpools, they say they eliminated them but I've seen weird behavior suggesting that they haven't.

It was the 8th or whatever (after hackcrash re-opening) when they were supposively down.

My bot is designed to not duplicate trades because it can launch trades quickly, and will often double orders etc.  If I'm at the computer I can manually delete a trade out of the database so that the particular price is again "available".

My algorithm was telling me to buy from MtGox at the Ask.  The price isn't important, but the volume was 0.1 at price, let's just say 14.5.  I sat at my computer and noticed it had traded by buying at 14.5 for volume 0.1.  I opened up my DOM and it showed that there was still an order stuck in the DOM for 14.5 and volume 0.1.  I go ahead and see if the trade will execute again by deleting the record of it in my database.  It fills immediately, but the 0.1 is still there.  I do this 10 more times until I get bored, it filled every time immediately, and every time there was still an order of 14.5 at volume 0.1 in the DOM suggesting that there was some mysterious volume filling my order that wasn't reflected in the DOM, or some mysterious player able to read that a trade occurred and replace their previous order (super unlikely as my program is fast).

I know how MtGox acts as an exchange probably better than 99% of this forum.  It does lag out and the DOM locks up from time to time.  However, when this happens your trades are not executed, they are "Active" or "In Queue", and they are filled 10-15 minutes later.

So in my case there are only a handful of possibilities:

1.  There are still Darkpools
2. MtGox is playing in the markets as well, as they are the only people who could possibly get orders into the DOM faster than my program can read the DOM.
3.  There was an error but MtGox decided to keep honoring the trades.
4.

I'd say the distribution of each being the cause of what I saw is 1: 70%, 2: 15%, 3: 0.01% 4: 14.99%

[eyal]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

I'm not frustrated by society. I'm quite content to use USD or any other fiat currency.  I'm not fretting about governmental fiscal policy or any other of the non-sense ailments that bitcoiners hope to cure with their evangelism.

My time would be better spent doing any number of other more productive things, but I have a compulsion to engage in cheap entertainment and this forum offers plenty of it. Additionally, when presented rarely, it gives a good opportunity to engage in meaningful debate. But rarely.

Plus, you are being paid well by you employer to do this (Thinktank group? Banking Cartel? CIA?) - so that  is clearly an excellent motivation..

But seriously, bitcoin nullify banks, which is the strongest power faction on this planet. NOT having paid sophist like you here - well, that would be a surprise. But since, like everyone else, you also need to make a living - I welcome you and support your hopeless effort to try to slow down, even by a small measure, the explosion of Bitcoin which is coming soon (just wait until every porn & non-governmen-approved-gambling site will discover it and implement it with zero effort using something like bit-pay.com...)

[cypherdoc]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

I'm not frustrated by society. I'm quite content to use USD or any other fiat currency.  I'm not fretting about governmental fiscal policy or any other of the non-sense ailments that bitcoiners hope to cure with their evangelism.

My time would be better spent doing any number of other more productive things, but I have a compulsion to engage in cheap entertainment and this forum offers plenty of it. Additionally, when presented rarely, it gives a good opportunity to engage in meaningful debate. But rarely.

Plus, you are being paid well by you employer to do this (Thinktank group? Banking Cartel? CIA?) - so that  is clearly an excellent motivation..

But seriously, bitcoin nullify banks, which is the strongest power faction on this planet. NOT having paid sophist like you here - well, that would be a surprise. But since, like everyone else, you also need to make a living - I welcome you and support your hopeless effort to try to slow down, even by a small measure, the explosion of Bitcoin which is coming soon (just wait until every porn & non-governmen-approved-gambling site will discover it and implement it with zero effort using something like bit-pay.com...)

+1

[Synaptic]

Son, you have to realize that most of the people here are mouth-breathers who found a vehicle for their impotent societal frustrations.

so why are you acting out your societal frustrations by mouth breathing here on this forum?  i would think your time would be better spent on a stock exchange blog.

I'm not frustrated by society. I'm quite content to use USD or any other fiat currency.  I'm not fretting about governmental fiscal policy or any other of the non-sense ailments that bitcoiners hope to cure with their evangelism.

My time would be better spent doing any number of other more productive things, but I have a compulsion to engage in cheap entertainment and this forum offers plenty of it. Additionally, when presented rarely, it gives a good opportunity to engage in meaningful debate. But rarely.

Plus, you are being paid well by you employer to do this (Thinktank group? Banking Cartel? CIA?) - so that  is clearly an excellent motivation..

But seriously, bitcoin nullify banks, which is the strongest power faction on this planet. NOT having paid sophist like you here - well, that would be a surprise. But since, like everyone else, you also need to make a living - I welcome you and support your hopeless effort to try to slow down, even by a small measure, the explosion of Bitcoin which is coming soon (just wait until every porn & non-governmen-approved-gambling site will discover it and implement it with zero effort using something like bit-pay.com...)

....uh huh.