Bitcoin Forum
December 02, 2016, 06:11:04 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3] 4 »  All
  Print  
Author Topic: ATTN: MtGox  (Read 5351 times)
Maged
Legendary
*
Offline Offline

Activity: 1260


View Profile
August 08, 2011, 03:27:23 AM
 #41

So about these bots........ can you do something about them?
Have you lodged this with Gox, or just here on the forum? 
Either way, MagicalTux has now seen it. By his non-response, I suspect that nothing will be done.

1480702264
Hero Member
*
Offline Offline

Posts: 1480702264

View Profile Personal Message (Offline)

Ignore
1480702264
Reply with quote  #2

1480702264
Report to moderator
1480702264
Hero Member
*
Offline Offline

Posts: 1480702264

View Profile Personal Message (Offline)

Ignore
1480702264
Reply with quote  #2

1480702264
Report to moderator
1480702264
Hero Member
*
Offline Offline

Posts: 1480702264

View Profile Personal Message (Offline)

Ignore
1480702264
Reply with quote  #2

1480702264
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480702264
Hero Member
*
Offline Offline

Posts: 1480702264

View Profile Personal Message (Offline)

Ignore
1480702264
Reply with quote  #2

1480702264
Report to moderator
1480702264
Hero Member
*
Offline Offline

Posts: 1480702264

View Profile Personal Message (Offline)

Ignore
1480702264
Reply with quote  #2

1480702264
Report to moderator
jed
Full Member
***
Offline Offline

Activity: 165

Jed McCaleb


View Profile WWW
August 08, 2011, 04:12:58 AM
 #42

GeniuSxBoY: Why do you care if a bot adds and removes orders? How does it effect you at all?

stellar.org   |    twitter
GeniuSxBoY
Hero Member
*****
Offline Offline

Activity: 546



View Profile
August 08, 2011, 04:25:26 AM
 #43

How does it affect me???!!! What an absurd question.


Bots are simply an unfair advantage over humans.

Bots have a distinct advantage over humans in trading.  Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.


I'd have a lot more time on my hands if I had the time and resources and the knowledge to build and host a bot with a working trading algorithm.

I could walk away from the computer and make money. But then again, it wouldn't be fair to other people who are less fortunate.



jed
Full Member
***
Offline Offline

Activity: 165

Jed McCaleb


View Profile WWW
August 08, 2011, 04:35:05 AM
 #44

Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?

stellar.org   |    twitter
Tasty Champa
Member
**
Offline Offline

Activity: 84


View Profile
August 08, 2011, 04:39:23 AM
 #45

GeniuSxBoY: Why do you care if a bot adds and removes orders? How does it effect you at all?

http://en.wikipedia.org/wiki/Gaslighting
Tasty Champa
Member
**
Offline Offline

Activity: 84


View Profile
August 08, 2011, 04:43:37 AM
 #46

mtgox's subreddit may be a good place for this.

GeniuSxBoY
Hero Member
*****
Offline Offline

Activity: 546



View Profile
August 08, 2011, 04:52:52 AM
 #47

I doubt that someone would keep their bot running for two weeks if they are losing money with it.
Ridi
Jr. Member
*
Offline Offline

Activity: 42


View Profile
August 08, 2011, 05:07:23 AM
 #48

Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?

In case you haven't noticed, there are increasing amounts of complaints about Mt.Gox's website being inaccessible during the prime buying moments.  Bots are affecting MtGox's viability as a trading forum and also making their charts inaccurate representations of the market.

I use Trade Hill, you can use my referral code (TH-R115864) for a 10% discount on commissions
Public address 1vedbt1pLCKyBfS9eApCfL4UAwQ1et12z
I don't support the artificial value of BTC, don't buy BTC at ridiculous prices.  Let Miners learn the lesson banks wouldn't.  The Supply has outgrown Dema
repentance
Hero Member
*****
Offline Offline

Activity: 840


View Profile
August 08, 2011, 05:45:34 AM
 #49

Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?

In case you haven't noticed, there are increasing amounts of complaints about Mt.Gox's website being inaccessible during the prime buying moments.  Bots are affecting MtGox's viability as a trading forum and also making their charts inaccurate representations of the market.

It's not just bots placing fake orders which distorts the market depth.  The other day someone complained that a buy order they'd placed at 7.00 almost executed because they had trouble logging on quickly to remove it when the price was in freefall. 

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
GeniuSxBoY
Hero Member
*****
Offline Offline

Activity: 546



View Profile
August 08, 2011, 05:48:37 AM
 #50

Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?

In case you haven't noticed, there are increasing amounts of complaints about Mt.Gox's website being inaccessible during the prime buying moments.  Bots are affecting MtGox's viability as a trading forum and also making their charts inaccurate representations of the market.

It's not just bots placing fake orders which distorts the market depth.  The other day someone complained that a buy order they'd placed at 7.00 almost executed because they had trouble logging on quickly to remove it when the price was in freefall. 


There's a huge difference. HUGE. Use your head!!! PLEASE use your head.
Ridi
Jr. Member
*
Offline Offline

Activity: 42


View Profile
August 08, 2011, 06:26:57 AM
 #51

Heh ok. I think you give these bots way too much credit.
And what about all the human traders that are better than you should they have to pay extra fees?

In case you haven't noticed, there are increasing amounts of complaints about Mt.Gox's website being inaccessible during the prime buying moments.  Bots are affecting MtGox's viability as a trading forum and also making their charts inaccurate representations of the market.

It's not just bots placing fake orders which distorts the market depth.  The other day someone complained that a buy order they'd placed at 7.00 almost executed because they had trouble logging on quickly to remove it when the price was in freefall. 

Rather than just call you an idiot, I'll just admit, I have no frickin clue how this equates to using bots to overwhelm the system.  Is placing an fake order capable of forcing people out of the market in a way I haven't heard of before? 

Even with fake orders on the market, legitimate buyers and sellers should be able to buy and sell their real offers.  Bots, on the other hand, maintain a monopoly on market manipulation by forcing all others off MtGox.  Furthermore, it prevents assholes, like the one you mentioned, from realizing that if they post a fake bid/ask to manipulate the market and it gets filled, then they have no one to blame but themselves.

I use Trade Hill, you can use my referral code (TH-R115864) for a 10% discount on commissions
Public address 1vedbt1pLCKyBfS9eApCfL4UAwQ1et12z
I don't support the artificial value of BTC, don't buy BTC at ridiculous prices.  Let Miners learn the lesson banks wouldn't.  The Supply has outgrown Dema
bitclown
Full Member
***
Offline Offline

Activity: 186


View Profile
August 08, 2011, 06:29:39 AM
 #52

Bots have a distinct advantage over humans in trading.  Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.
Humans with their slow reactions and irrational feelings sounds like a much bigger problem for the market than fast and precise bots.
GeniuSxBoY
Hero Member
*****
Offline Offline

Activity: 546



View Profile
August 08, 2011, 06:36:22 AM
 #53

Bots have a distinct advantage over humans in trading.  Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.
Humans with their slow reactions and irrational feelings sounds like a much bigger problem for the market than fast and precise bots.


Ridi
Jr. Member
*
Offline Offline

Activity: 42


View Profile
August 08, 2011, 06:52:36 AM
 #54

Bots have a distinct advantage over humans in trading.  Mainly speed and the lack of human error and time.
Humans are simply not fast enough to type in an order before the market changes.
Humans with their slow reactions and irrational feelings sounds like a much bigger problem for the market than fast and precise bots.

I have no problem with bots as a means to do legitimate business.  Technology is not a bane to the bitcoin community. The clear issue is that either bot technology is being used intentionally maliciously (and in this case, where the bot user is most likely aware of the problems he's causing by now, it can't be ruled out,) or irresponsibly (this is clearly doing damage to the bitcoin market.)

The greater issue I have is that MtGox has several means to handle this issue at their disposal. Either impose the posting costs mentioned in other threads, or increase their capacity for traffic density.  Their is not a blameless party between MtGox and the botter.  In fact I have not ruled out Mt.Gox as the botter, as they may be trying to protect their profit margins.

Edit- Another possibility came to mind, from another thread I posted in
Quote
The other, on a lighter note, is that they are still working on security upgrades from the incident earlier this year, and have decided to include some way of staying the botters effect on the system.  In any case where they are intending to effect the botters they may not be willing to announce it till they can implement it, as it could cause the botters to escalate their activity drastically to maximize their abuse before the problem is handled.

I use Trade Hill, you can use my referral code (TH-R115864) for a 10% discount on commissions
Public address 1vedbt1pLCKyBfS9eApCfL4UAwQ1et12z
I don't support the artificial value of BTC, don't buy BTC at ridiculous prices.  Let Miners learn the lesson banks wouldn't.  The Supply has outgrown Dema
kjj
Legendary
*
Offline Offline

Activity: 1302



View Profile
August 08, 2011, 02:09:53 PM
 #55

Can you just shut the fuck up already?

They created the exchange, they own it, they operate it, they get to make the decisions for it, not you.  If you don't like that, you can go make your own exchange and set whatever policies you want for it.  If you are right that bots are bad, people will flock to your botless exchange.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
I routinely ignore posters with paid advertising in their sigs.  You should too.
evolve
Hero Member
*****
Offline Offline

Activity: 700


daytrader/superhero


View Profile
August 08, 2011, 03:00:45 PM
 #56



Ridi
Jr. Member
*
Offline Offline

Activity: 42


View Profile
August 08, 2011, 04:45:19 PM
 #57

Can you just shut the fuck up already?

They created the exchange, they own it, they operate it, they get to make the decisions for it, not you.  If you don't like that, you can go make your own exchange and set whatever policies you want for it.  If you are right that bots are bad, people will flock to your botless exchange.

Somebody that advocates minding their own business to that point of absurdity should probably take their own advice.

Since Magical Tux usually appears to be very active in responding to feedback, I don't see why you are so hostile to everyone.  Aside from his mysterious silence, which is hardly telling of MtGox's position, there is no reason to believe that they have reached any decision regarding this matter. (Though I will continue to speculate on the possibilities.  I find the situation interesting.)

As for making my own exchange, and then expecting people to flock to it, hardly indicates that I should shut up.  In fact, such an action would require increased advocacy for my system's strengths compared to the competition.  I think you in particular would find me quite a bit more annoying in my increased presence on this forum. 

Luckily for you I already prescribe to another trading service. For the time being I have faith in them and you can rest assured that I entertain no such notion of creating an online trading service in the near future.  Kiss

I use Trade Hill, you can use my referral code (TH-R115864) for a 10% discount on commissions
Public address 1vedbt1pLCKyBfS9eApCfL4UAwQ1et12z
I don't support the artificial value of BTC, don't buy BTC at ridiculous prices.  Let Miners learn the lesson banks wouldn't.  The Supply has outgrown Dema
kjj
Legendary
*
Offline Offline

Activity: 1302



View Profile
August 08, 2011, 05:01:15 PM
 #58

...

I guess I should have made it clear that I was talking to the tool that started the thread and thinks that his opinion should be binding on everyone else, not whichever random person posted just before me.

p2pcoin: a USB/CD/PXE p2pool miner - 1N8ZXx2cuMzqBYSK72X4DAy1UdDbZQNPLf - todo
I routinely ignore posters with paid advertising in their sigs.  You should too.
Ridi
Jr. Member
*
Offline Offline

Activity: 42


View Profile
August 08, 2011, 05:25:37 PM
 #59

Criticisms about GxB's approach aside, I think my point still applies.  As I support the two views which you criticized. (Aggressive, involved feedback, and restricting bot abuse viability)

I use Trade Hill, you can use my referral code (TH-R115864) for a 10% discount on commissions
Public address 1vedbt1pLCKyBfS9eApCfL4UAwQ1et12z
I don't support the artificial value of BTC, don't buy BTC at ridiculous prices.  Let Miners learn the lesson banks wouldn't.  The Supply has outgrown Dema
Tasty Champa
Member
**
Offline Offline

Activity: 84


View Profile
August 08, 2011, 06:06:02 PM
 #60

Bitcoin is terminal running along this direction.
No serious investor would get caught in this scheme.
Pages: « 1 2 [3] 4 »  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!