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Skybits
Newbie
 Offline
Activity: 12
Merit: 0
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December 06, 2013, 08:23:07 PM |
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ok time to buy again  |
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lowlevel
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December 06, 2013, 08:25:19 PM |
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It was already explained in another thread, it's a security measure (of rather dubious quality) they put in for when price is falling too fast. This is the kind of "solution" that makes software engineers around the world scream out in agony.
I sat there trying to cancel re-appearing orders for an hour... thankfully it did seem to stop finally, and I've been able to withdraw my bitcoins... |
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GigaCoin
Sr. Member
Offline
Activity: 308
Merit: 251
Giga
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December 06, 2013, 08:28:18 PM |
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are we back in a loop this time $830-$890?
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Peter R
Legendary
Offline
Activity: 1162
Merit: 1007
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December 06, 2013, 08:30:05 PM |
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It was already explained in another thread, it's a security measure (of rather dubious quality) they put in for when price is falling too fast. This is the kind of "solution" that makes software engineers around the world scream out in agony.
I sat there trying to cancel re-appearing orders for an hour... thankfully it did seem to stop finally, and I've been able to withdraw my bitcoins... You withdraw your bitcoins and so do a bunch of other people who are now spooked with Gox. Those who panic sold will later panic buy into a thinner ask wall, realizing that withdrawing via bitcoin is much faster and easier than USD. This will drive the price UP. Anti-fragility at work. |
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pand70
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December 06, 2013, 08:32:09 PM |
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Ok so the gox loop worked for the better or for worse for the price. It seems to me that it didn't had much impact considering the price of the other exchanges that weren't on a loop.
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canada
Member
Offline
Activity: 66
Merit: 10
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December 06, 2013, 08:38:58 PM |
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This will all stop as soon as Bill Murry wins Andie McDowell's heart.
Until then, we're Goxloop'd!
baahahahahha |
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canada
Member
Offline
Activity: 66
Merit: 10
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December 06, 2013, 08:42:46 PM |
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this is an excellent documentary about high frequency trading: http://www.youtube.com/watch?v=GEAGdwHXfLQsome totally unexplained flash crashes happened because these algos operate in complex systems. |
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pera
Sr. Member
Offline
Activity: 532
Merit: 261
バカ
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December 06, 2013, 08:59:09 PM |
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Can anyone remember any loop when the price went up really fast?
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ｷﾀ━━━━(ﾟ∀ﾟ)━━━━ｯ!!
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Bitbuy
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December 06, 2013, 09:20:50 PM |
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This is interesting to say at least...didn't know this was possible (legality aside!)
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antimattercrusader
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December 06, 2013, 10:05:02 PM |
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What imbeciles. They're going to watch their market share evaporate.
Why anyone still uses them at this point is beyond my comprehension anyway. After the April crash, I was done. |
BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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Jcw188
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December 06, 2013, 10:13:06 PM |
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It seemed like the price got stuck at Gox for a while and threw all the other markets into a tizzy. Isn't part of the problem ppl can't get money and btc out of Gox?
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Listed
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KUCOIN
Gate.io | | |
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Elokane
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December 06, 2013, 11:07:53 PM |
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Maybe stop using Gox?
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miaviator
Donator
Hero Member
Offline
Activity: 686
Merit: 519
It's for the children!
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December 07, 2013, 02:43:02 AM |
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Anyone willing to lobby against MtGox, with me?
Yes. Don't use gox anymore. Done. |
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Le Happy Merchant
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December 07, 2013, 03:19:43 AM |
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Bitcoin is unregulated so def legal at this point of time
The precedent from the Shavers case says otherwise. They could probably nab Karples for securities fraud, as this is something he is explicitly expected NOT to do. |
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eldentyrell
Donator
Legendary
Offline
Activity: 980
Merit: 1004
felonious vagrancy, personified
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December 07, 2013, 03:36:36 AM |
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So, a massive GoxLoop is going on.
I really wish, for the sake of BTC's credibility, they would not do this. Or urgently fix whatever bug has been causing this to happen occasionally for the last year or more. These charts get posted on zerohedge, and they scream "manipulated market" to people. Even if there is an innocent explanation. |
The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators. So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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eldentyrell
Donator
Legendary
Offline
Activity: 980
Merit: 1004
felonious vagrancy, personified
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December 07, 2013, 03:42:24 AM |
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The reason for his weird "security system" is to prevent a repeat of what happened several years ago when someone hacked the site and faked a market sell all the way down to zero!
Yes, but why on earth would he report fake volume instead of simply halting the market? Makes zero sense. |
The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators. So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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eldentyrell
Donator
Legendary
Offline
Activity: 980
Merit: 1004
felonious vagrancy, personified
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December 07, 2013, 03:44:40 AM |
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Can anyone remember any loop when the price went up really fast?
If this really is a security measure it only needs to be on the down-side since BTC withdrawals are instantaneous and irreversible while fiat withdrawals take at least a day (time for Mark to wake up and notice) and can sometimes be clawed back. Blocking all BTC withdrawals from all accounts is an alternative, but that REALLY freaks people out, so I can understand why he'd be reluctant to do that. I still think that "looping" instead of halting is completely bonkers. |
The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators. So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
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jasonpitts
Newbie
Offline
Activity: 23
Merit: 0
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December 07, 2013, 03:45:09 AM |
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I cannot understand why anyone still uses GOX.
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