Bitcoin Forum
December 09, 2016, 01:56:22 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 [7]  All
  Print  
Author Topic: Massive spike to $7 (then $15.9499) sunday 3PM BST at MtGox  (Read 8526 times)
Villem Anton
Newbie
*
Offline Offline

Activity: 29


View Profile
September 11, 2011, 05:08:02 PM
 #121

...

I have a trade at over 6, exceuted 30 seconds after that, there was deffinetly no drop, I however had a buy order in at 4.89 similtaniously which did not get filled. So gox is up to its old tricks of selectively filling random orders, so the data is correct, trades are being executed at these ridiculous prices randomly, thus defeating the point of the exchange.

Mark Karpeles, Take responsibility.

Well someone should call these amatures at mtgox and have them close trading for now. They most likely have a bug and someone is taking advantage of it at this very moment!
1481291782
Hero Member
*
Offline Offline

Posts: 1481291782

View Profile Personal Message (Offline)

Ignore
1481291782
Reply with quote  #2

1481291782
Report to moderator
1481291782
Hero Member
*
Offline Offline

Posts: 1481291782

View Profile Personal Message (Offline)

Ignore
1481291782
Reply with quote  #2

1481291782
Report to moderator
1481291782
Hero Member
*
Offline Offline

Posts: 1481291782

View Profile Personal Message (Offline)

Ignore
1481291782
Reply with quote  #2

1481291782
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481291782
Hero Member
*
Offline Offline

Posts: 1481291782

View Profile Personal Message (Offline)

Ignore
1481291782
Reply with quote  #2

1481291782
Report to moderator
1481291782
Hero Member
*
Offline Offline

Posts: 1481291782

View Profile Personal Message (Offline)

Ignore
1481291782
Reply with quote  #2

1481291782
Report to moderator
Nagle
Legendary
*
Offline Offline

Activity: 1204


View Profile WWW
September 11, 2011, 05:45:19 PM
 #122

Quote
I'm betting on another MtGox bug.  They've just opened 15 new currencies.  Chances are something went wrong.
That's what I suspect.

Now that Mt. Gox offers trading in multiple currencies, they're effectively a FOREX market. That may draw the attention of people who aren't interested in Bitcoins, but can take advantage of Mt. Gox's general ineptitude. If Mt. Gox gets a currency conversion rate even slightly wrong, they can be clobbered.

Mt. Gox isn't saying what their FOREX fees and spreads are.  If they're buying and selling currencies with no spread and no fee other than their Bitcoin trading fee, they're exploitable.
anu
Legendary
*
Offline Offline

Activity: 938


P2P Everything


View Profile WWW
September 11, 2011, 06:08:03 PM
 #123

Mt. Gox isn't saying what their FOREX fees and spreads are.  If they're buying and selling currencies with no spread and no fee other than their Bitcoin trading fee, they're exploitable.

I am under the impression that you always have to go through Bitcoin on MtGox. That makes 2 fees for each currency conversion.

Zero Reserve - A distributed Bitcoin Exchange

Install - Getting Started - BitcoinTalk Thread - Github Source
BCEmporium
Legendary
*
Offline Offline

Activity: 938



View Profile
September 11, 2011, 06:10:48 PM
 #124

TradeHill already has it, and it doesn't mean you can trade USD for EUR there, for an instance, it just means you can buy or sell BTC from and to USD or EUR. If you want to convert USD to EUR you would need to go through BTC first.
Nagle
Legendary
*
Offline Offline

Activity: 1204


View Profile WWW
September 11, 2011, 06:49:48 PM
 #125

Mt. Gox isn't saying what their FOREX fees and spreads are.  If they're buying and selling currencies with no spread and no fee other than their Bitcoin trading fee, they're exploitable.

I am under the impression that you always have to go through Bitcoin on MtGox. That makes 2 fees for each currency conversion.
Currently the only withdrawal options on their site are USD and EUR. It's not clear that they fully support transactions in other currencies.
Nagle
Legendary
*
Offline Offline

Activity: 1204


View Profile WWW
September 11, 2011, 07:29:50 PM
 #126

With Mt. Gox having a flaky period again, I'd suggest pulling all assets out of Mt. Gox. If you're not going to trade it in the next 24 hours, get your money out. You can always put it back in later if you want to trade.

(This can't cause a "run" on Mt. Gox, since they supposedly have 100% of the customer's assets. And if they don't, it's better to know sooner than later.)
dserrano5
Legendary
*
Offline Offline

Activity: 1638



View Profile
September 11, 2011, 07:53:23 PM
 #127

If you're not going to trade it in the next 24 hours, get your money out.

24 hours is more than enough to see the price reach that $2 some people is talking about. Now *that* is a serious buying opportunity in the short term.

fcmatt
Legendary
*
Offline Offline

Activity: 1106


View Profile
September 11, 2011, 08:01:41 PM
 #128

well whatever happened.. i was glad to sell a few more BTC above 6 dollars today.

edited to add: hurry up transfer.. i want to shortly sell a couple more above 7 if things go right ;-)
rebuilder
Legendary
*
Offline Offline

Activity: 1618



View Profile
September 11, 2011, 08:14:03 PM
 #129

With Mt. Gox having a flaky period again, I'd suggest pulling all assets out of Mt. Gox. If you're not going to trade it in the next 24

I considered this. Unfortunately, withdrawing EUR ( in my case) is too much of a hassle, and converting my USD assets to Bitcoin to withdraw seems very risky at this point.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
---------------------------------------------------------------
Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
mb300sd
Legendary
*
Offline Offline

Activity: 1232

Drunk Posts


View Profile WWW
September 11, 2011, 08:32:54 PM
 #130

With Mt. Gox having a flaky period again, I'd suggest pulling all assets out of Mt. Gox. If you're not going to trade it in the next 24

I considered this. Unfortunately, withdrawing EUR ( in my case) is too much of a hassle, and converting my USD assets to Bitcoin to withdraw seems very risky at this point.

I think you can open a Dwolla without a bank account and just transfer usd between it and mtgox.

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
dooglus
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 11, 2011, 09:16:45 PM
 #131

Quote
Mt. Gox isn't saying what their FOREX fees and spreads are.  If they're buying and selling currencies with no spread and no fee other than their Bitcoin trading fee, they're exploitable.

They don't say, but if you look any non-USD orderbook you can see by the gap between bid and ask prices that they're charging 2.5% on all non-USD trades in addition to the 0.6% or so commission.  So they're fine so long as they're within 3% of the correct price.

dooglus
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 11, 2011, 09:19:00 PM
 #132

Here's the part of http://mtgox.com/api/0/data/getTrades.php where the price spiked.  Note the isolated trades over $10.  Looks like it must be a bug in the order matching:

Code:
{"date":1315753350,"price":"8.56343","amount":"0.1","price_int":"856343","amount_int":"10000000","tid":"1315753350781803","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51303","amount":"36.81","price_int":"851303","amount_int":"3681000000","tid":"1315753350846659","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"5.51206","amount":"0.51","price_int":"551206","amount_int":"51000000","tid":"1315753350870615","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"5.51205","amount":"9.51","price_int":"551205","amount_int":"951000000","tid":"1315753350900809","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51105","amount":"4.05","price_int":"851105","amount_int":"405000000","tid":"1315753350960337","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51103","amount":"28.5702","price_int":"851103","amount_int":"2857020000","tid":"1315753350982440","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753351,"price":"8.51102","amount":"3.05","price_int":"851102","amount_int":"305000000","tid":"1315753351004599","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753351,"price":"10.50328","amount":"5","price_int":"1050328","amount_int":"500000000","tid":"1315753351032421","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753352,"price":"8.50227","amount":"33.99","price_int":"850227","amount_int":"3399000000","tid":"1315753352779862","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753352,"price":"8.50227","amount":"10.6","price_int":"850227","amount_int":"1060000000","tid":"1315753352983925","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753353,"price":"8.50227","amount":"6.885","price_int":"850227","amount_int":"688500000","tid":"1315753353111261","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753353,"price":"5.50227","amount":"2.84442602","price_int":"550227","amount_int":"284442602","tid":"1315753353208319","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753362,"price":"5.50227","amount":"35","price_int":"550227","amount_int":"3500000000","tid":"1315753362025600","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753374,"price":"5.50217","amount":"1.1","price_int":"550217","amount_int":"110000000","tid":"1315753374882708","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753407,"price":"5.50217","amount":"19","price_int":"550217","amount_int":"1900000000","tid":"1315753407440568","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753408,"price":"12.50028","amount":"50.56934435","price_int":"1250028","amount_int":"5056934435","tid":"1315753408850547","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753420,"price":"5.50207","amount":"21","price_int":"550207","amount_int":"2100000000","tid":"1315753420123491","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753420,"price":"5.50227","amount":"9","price_int":"550227","amount_int":"900000000","tid":"1315753420149017","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753445,"price":"5.50227","amount":"8.51","price_int":"550227","amount_int":"851000000","tid":"1315753445862485","price_currency":"USD","item":"BTC","trade_type":"bid"},

edit (Sun Sep 11 19:39:05 PDT 2011) : fixed URL - getTrades,php, not getDepth.php

johnj
Full Member
***
Offline Offline

Activity: 154


View Profile
September 11, 2011, 09:37:09 PM
 #133

Here's the part of http://mtgox.com/api/0/data/getDepth.php where the price spiked.  Note the isolated trades over $10.  Looks like it must be a bug in the order matching:


Ruh roh

1AeW7QK59HvEJwiyMztFH1ubWPSLLKx5ym
TradeHill Referral TH-R120549
dooglus
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 11, 2011, 09:46:49 PM
 #134

Here's the part of http://mtgox.com/api/0/data/getDepth.php where the price spiked.  Note the isolated trades over $10.  Looks like it must be a bug in the order matching:

Code:
{"date":1315753350,"price":"8.56343","amount":"0.1","price_int":"856343","amount_int":"10000000","tid":"1315753350781803","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51303","amount":"36.81","price_int":"851303","amount_int":"3681000000","tid":"1315753350846659","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"5.51206","amount":"0.51","price_int":"551206","amount_int":"51000000","tid":"1315753350870615","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"5.51205","amount":"9.51","price_int":"551205","amount_int":"951000000","tid":"1315753350900809","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51105","amount":"4.05","price_int":"851105","amount_int":"405000000","tid":"1315753350960337","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"8.51103","amount":"28.5702","price_int":"851103","amount_int":"2857020000","tid":"1315753350982440","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753351,"price":"8.51102","amount":"3.05","price_int":"851102","amount_int":"305000000","tid":"1315753351004599","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753351,"price":"10.50328","amount":"5","price_int":"1050328","amount_int":"500000000","tid":"1315753351032421","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753352,"price":"8.50227","amount":"33.99","price_int":"850227","amount_int":"3399000000","tid":"1315753352779862","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753352,"price":"8.50227","amount":"10.6","price_int":"850227","amount_int":"1060000000","tid":"1315753352983925","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753353,"price":"8.50227","amount":"6.885","price_int":"850227","amount_int":"688500000","tid":"1315753353111261","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753353,"price":"5.50227","amount":"2.84442602","price_int":"550227","amount_int":"284442602","tid":"1315753353208319","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753362,"price":"5.50227","amount":"35","price_int":"550227","amount_int":"3500000000","tid":"1315753362025600","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753374,"price":"5.50217","amount":"1.1","price_int":"550217","amount_int":"110000000","tid":"1315753374882708","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753407,"price":"5.50217","amount":"19","price_int":"550217","amount_int":"1900000000","tid":"1315753407440568","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753408,"price":"12.50028","amount":"50.56934435","price_int":"1250028","amount_int":"5056934435","tid":"1315753408850547","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753420,"price":"5.50207","amount":"21","price_int":"550207","amount_int":"2100000000","tid":"1315753420123491","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753420,"price":"5.50227","amount":"9","price_int":"550227","amount_int":"900000000","tid":"1315753420149017","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753445,"price":"5.50227","amount":"8.51","price_int":"550227","amount_int":"851000000","tid":"1315753445862485","price_currency":"USD","item":"BTC","trade_type":"bid"},

If you ignore the dollar price and just look at the cents, it's a very smooth price movement.  (Cool.50227 to (5).50227 to (12).50028.  I wonder what kind of a programming error could cause this.

old_engineer
Sr. Member
****
Offline Offline

Activity: 387


View Profile
September 11, 2011, 10:48:45 PM
 #135

If you ignore the dollar price and just look at the cents, it's a very smooth price movement.  (Cool.50227 to (5).50227 to (12).50028.  I wonder what kind of a programming error could cause this.

Ding ding ding we have a winner!  At least we know that they're doing integer matching.  And we can also conclude that either they have no regression testing in place, or it's grossly insufficient, 'cause this is just a stupid programming error that should be caught by automated regression testing.
opticbit
Hero Member
*****
Offline Offline

Activity: 677


PGP: 6EBEBCE1E0507C38


View Profile WWW
September 11, 2011, 11:08:01 PM
 #136

Bots rely on pricing data to make their decisions.

Guess what happens when they get fed a bunch of bogus data?

Right, I didn't think of that. But the bot writers should know this problem, as it has been there for a while already. Still, it is a possible explanation.

I'm not so sure whether Mtgox gives warranty of their feeds being correct 100% of the time. I agree that this is very questionable, but might still be the case.

Imagine the NASDAQ reporting AAPL spiking to $900 a share and back again with no order executed in between.  There would be questions asked, to say teh least.

Scottrade did this with NWA around the time of the Delta merger announcement.  Went from $~4 to ~$400 for a minute and back to normal.

Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
skull88
Hero Member
*****
Offline Offline

Activity: 684



View Profile
September 12, 2011, 12:34:16 AM
 #137

With Mt. Gox having a flaky period again, I'd suggest pulling all assets out of Mt. Gox. If you're not going to trade it in the next 24

I considered this. Unfortunately, withdrawing EUR ( in my case) is too much of a hassle, and converting my USD assets to Bitcoin to withdraw seems very risky at this point.
US Dollar to Euro currency (SEPA zone)

Why don't use this option?  Huh

BTC: 1MifMqtqqwMMAbb6zr8u6qEzWqq3CQeGUr
LTC: LhvMYEngkKS2B8FAcbnzHb2dvW8n9eHkdp
Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
September 12, 2011, 12:41:42 AM
 #138

Well, I wake up this morning and the massive volatility returned.  It let me get rid of some bitcoins in the low $7 range but even those Asks were too low.  These massive and on the surface irrational looking trades are very interesting, to say the least.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
dooglus
Legendary
*
Offline Offline

Activity: 2002



View Profile
September 12, 2011, 02:44:08 AM
 #139

Checking the same getTrades.php API now shows that the trades at 8.5, 10.5, 12.5 have disappeared from the trade history:

This is the same time period as I pasted a couple of posts up from here, and now only the nine 5.5 trades still exist in that time range:

Code:
{"date":1315753350,"price":"5.51206","amount":"0.51","price_int":"551206","amount_int":"51000000","tid":"1315753350870615","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753350,"price":"5.51205","amount":"9.51","price_int":"551205","amount_int":"951000000","tid":"1315753350900809","price_currency":"USD","item":"BTC","trade_type":"ask"},
{"date":1315753353,"price":"5.50227","amount":"2.84442602","price_int":"550227","amount_int":"284442602","tid":"1315753353208319","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753362,"price":"5.50227","amount":"35","price_int":"550227","amount_int":"3500000000","tid":"1315753362025600","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753374,"price":"5.50217","amount":"1.1","price_int":"550217","amount_int":"110000000","tid":"1315753374882708","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753407,"price":"5.50217","amount":"19","price_int":"550217","amount_int":"1900000000","tid":"1315753407440568","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753420,"price":"5.50207","amount":"21","price_int":"550207","amount_int":"2100000000","tid":"1315753420123491","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753420,"price":"5.50227","amount":"9","price_int":"550227","amount_int":"900000000","tid":"1315753420149017","price_currency":"USD","item":"BTC","trade_type":"bid"},
{"date":1315753445,"price":"5.50227","amount":"8.51","price_int":"550227","amount_int":"851000000","tid":"1315753445862485","price_currency":"USD","item":"BTC","trade_type":"bid"},

Did an explanation from MtGox appear anywhere, whether official or unofficial?

Edward50
Hero Member
*****
Offline Offline

Activity: 546



View Profile
September 12, 2011, 03:07:11 AM
 #140

Well, I wake up this morning and the massive volatility returned.  It let me get rid of some bitcoins in the low $7 range but even those Asks were too low.  These massive and on the surface irrational looking trades are very interesting, to say the least.

What is Odd is that it somehow got the price to go higher and currently stay higher. Makes me wonder what is going on. Now it looks like the Bid orders are getting bloated again.

I seriously doubt that the average person is going to buy bitcoins at this range, when they just got beaten pretty badly lately and most likely the price will probably go back down.

This is why I think its someone or some kind of cartel working here on the pricing. Maybe its just bots also. But it is definitely not a rational person doing this.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
Pages: « 1 2 3 4 5 6 [7]  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!