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Author Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE  (Read 88570 times)
segabtc
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November 16, 2012, 09:04:08 PM
 #261

is this a nervous bear?Huh or straight up manipulation? can you give a little insight as to what happened, no names or anything, just the facts.
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Ichthyo
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November 16, 2012, 09:19:19 PM
 #262

Fireball, what about some comments about that situation from you?

...probably he's still busy with maintenance

Btw, still awaiting the closure, we're not out of the woods yet


Oh hay, me can haz variaton magrin?
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November 16, 2012, 09:24:50 PM
 #263

for your interest, the agent has left stage
segabtc
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November 16, 2012, 09:29:09 PM
 #264

maybe needs to say that within a 5 minutes window of close, closing can occur, and create a random time of closing everyday, but within that 5 minute window, ie 7:55 to 8:00 closing can occur.
that way nobody knows when exactly it is gonna close, so if we get these sellers coming in to help the var nic, the buyers might have a change to stand back up and take a swing at that bear. Cause if we can stop him once and force a close on him, he will be out!!!. Closing his position is just gonna make his losses even worse because they hit open market and take out the sell side,and price goes up. Am I thinking correct?
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November 16, 2012, 09:37:43 PM
 #265

Cause if we can stop him once and force a close on him, he will be out!!!. Closing his position is just gonna make his losses even worse because they hit open market and take out the sell side,and price goes up. Am I thinking correct?

Basically that seems to have been happengin right now

All the blocking Asks are gone and we're jumping up to 11
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November 16, 2012, 09:42:16 PM
 #266

woah, icbit logs arn't persistent?
my settlement numbers just changed today
earlier, the close was marked at 10.11897
now that entry is gone
replaced by an entry dated 1.5 hours later, close market at 10.8088

segabtc
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November 16, 2012, 09:42:27 PM
 #267

look at the wall
Fireball
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November 16, 2012, 09:43:26 PM
 #268

Basically that seems to have been happengin right now

All the blocking Asks are gone and we're jumping up to 11

We had to liquidate some percent of clients short positions because of the high risk.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
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Fireball
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November 16, 2012, 09:46:05 PM
 #269

woah, icbit logs arn't persistent?
my settlement numbers just changed today
earlier, the close was marked at 10.11897
now that entry is gone
replaced by an entry dated 1.5 hours later, close market at 10.8088

No way. It can't happen. You mixed up something. By the nature of the system, everything is logged, settlement prices are written in a database, in incremental order, so they can't be "just altered".

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
segabtc
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November 16, 2012, 09:46:47 PM
 #270

dump them and drive up that price, heheheh

sorry you do what needs to be done.
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November 16, 2012, 09:48:13 PM
 #271

maybe needs to say that within a 5 minutes window of close, closing can occur, and create a random time of closing everyday, but within that 5 minute window, ie 7:55 to 8:00 closing can occur.

I like the suggestion really, it introduces some useful randomness without hurting integrity of financial operations.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
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November 16, 2012, 09:51:19 PM
 #272

Oh man, someone gone sob oneself to sleep    Roll Eyes
smickles
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November 16, 2012, 09:53:40 PM
 #273

woah, icbit logs arn't persistent?
my settlement numbers just changed today
earlier, the close was marked at 10.11897
now that entry is gone
replaced by an entry dated 1.5 hours later, close market at 10.8088

No way. It can't happen. You mixed up something. By the nature of the system, everything is logged, settlement prices are written in a database, in incremental order, so they can't be "just altered".
So I just hallucinated that log entry which I saw at 20:30 UTC and used to report data to several people? </jk>

But seriously, I'm sure I saw a variation margin entry which is not the one currently shown in my logs.

segabtc
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November 16, 2012, 09:54:19 PM
 #274

why thanks, glad you liked the idea, I have been lurking and watching and reading this topic and that is the only way to give the market a chance, to fluctuate is one thing but to be able to game because you have X amount of btc I can dump and drive down anytime I want and closing is occurring in 3, 2, 1, saved the var. and might even made a profit, but it gets in a situation of increasing the dumps to stay ahead. "VERY DANGEROUS". Another answer you gave in a previous reply that I was curious about, Do you close ALL open positions or just enough to cover var.?  Apparently it is covering just what needs to be covered. Thanks for your work.
Fireball
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November 16, 2012, 09:55:04 PM
 #275

is this a nervous bear?Huh or straight up manipulation? can you give a little insight as to what happened, no names or anything, just the facts.
I represent an exchange, so either bull or bear, they are our precious clients. ICBIT treats them equally, and the only task is to reduce risks of either loosing all money (better to loose part, but not all), or the risk of exchange's clearing pool "default".

As a trader... Well. Of course, when you see market going in other direction than you expected, this means you need to have some small, egg-shaped parts of your body to be made of high quality titan :-) However, the market goes back and forth, and only those with steel nerves can get the biggest profits.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
Ichthyo
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November 16, 2012, 09:55:57 PM
 #276

maybe needs to say that within a 5 minutes window of close, closing can occur, and create a random time of closing everyday, but within that 5 minute window, ie 7:55 to 8:00 closing can occur.

I like the suggestion really, it introduces some useful randomness without hurting integrity of financial operations.

maybe it should be a bit larger, more like about 15 min or even 1 hour.
Just enough to make "staged operations" uninteresting and too risky. Just 5 minutes aren't enough. In the past, the manipulator typically came shortly after 19:00 and prepared the field. Then the actual activities happened during about 20 minutes.


Personally I would even randomise the trading session duration way more, since I don't see that a fixed schedule makes any sense in a 24/7 world. But I understand that your intention is to stick as closely as possible to the setup of a classical future.
segabtc
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November 16, 2012, 09:59:29 PM
 #277

the 15 minutes or even an hour is fine with me, just threw 5 minutes out as a place to start the discussion. throwing shit at the wall and see what sticks, kinda thing.
Ichthyo
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November 16, 2012, 10:09:50 PM
 #278

another thing not related to this drama...

since at least yesterday, I get an error from the logs view.

When navigating to the log pane, there is an popup

Quote
[object Object]: error: Internal Server Error

The upper pane with the trading fees and variation margin is filled, but the lower pane with the trading history just shows "Loading data from server"

I tried Firefox 3.5 and 16
segabtc
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November 16, 2012, 10:14:26 PM
 #279

16.02 FF i see logs n trade history,need to upgrade from FF 16 to 16.02, there is a critical flaw in 16.
Fireball
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November 16, 2012, 10:19:14 PM
 #280

another thing not related to this drama...

since at least yesterday, I get an error from the logs view.

When navigating to the log pane, there is an popup

Quote
[object Object]: error: Internal Server Error

The upper pane with the trading fees and variation margin is filled, but the lower pane with the trading history just shows "Loading data from server"

I tried Firefox 3.5 and 16


Please email me (with your login name) and this will be investigated and fixed.

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
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