So, a massive GoxLoop is going on.
What is GoxLoop?Gox rewinds the orderbook periodically (6 times as of now) during a massive sell event, and replays the trades that happened in the duration of one loop. Any orders placed during the GoxLoop cannot be cancelled. Any orders placed during the GoxLoop will most likely go through after Gox decides to end the GoxLoop.ITT: Theories, speculations, as to motivations for GoxLoop.My theories:
- Massive market sell triggered GoxLoop so Gox can sell elsewhere while the price is still high
- Gox lets the loop run for as long as it takes them to move BTC elsewhere (be it another exchange, or w/e) for their profit.
Legal complications?Please also discuss whether or not this is legal, and if Gox operators could suffer legal consequences, even though this market is unregulated. Would it be legal in the EU/US to do this?
