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Author Topic: one person with two accounts on Gox?  (Read 1848 times)
alan2here
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February 04, 2012, 05:10:03 PM
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What stops one person trading with himself on two accounts on Gox? Passing a BTC from one to the other then privatly back to himself, or whatever. Such that there seemed to be a lot of trading occuring at a much higher price than the average, moving the average up without the trader gaining or loosing any money?
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k
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February 04, 2012, 05:12:47 PM
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fees?
gewure
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February 04, 2012, 05:12:53 PM
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0.65% fees
alan2here
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February 04, 2012, 05:17:28 PM
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Thanks, so presumably it's about the volume of transaction more than the number of them.
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February 04, 2012, 06:08:52 PM
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0.65% fees

Isn't 0.25% is the minimum fee?

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February 04, 2012, 06:14:21 PM
 #6

0.65% fees

Isn't 0.25% is the minimum fee?
Yes.

Don't mix your coins someone said isn't legal
arepo
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this statement is false


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February 04, 2012, 06:26:51 PM
 #7


which may be the point, i presume. the OP inquires about the feasibility of establishing two accounts on MtGox, and then trading with oneself such that one's volume meter exceeds the threshold for minimum fees.

what say you?

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
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fred0
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February 04, 2012, 06:28:50 PM
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What stops one person trading with himself on two accounts on Gox? Passing a BTC from one to the other then privatly back to himself, or whatever. Such that there seemed to be a lot of trading occuring at a much higher price than the average, moving the average up without the trader gaining or loosing any money?
How do you tell who you are trading with? If you are using Gox as an exchange, you have no control who you buy/sell from/to.

If you are using Gox as a wallet provider, passing BTC from wallet to wallet does not constitute an exchange trade.
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February 04, 2012, 06:47:34 PM
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Only after 500,000BTC volume in the last 30 days.

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February 04, 2012, 06:56:40 PM
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Though fee's reduced to .3% after just 10k trade volume in <30D.

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WhatsHappening
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February 04, 2012, 07:10:44 PM
 #11

What stops one person trading with himself on two accounts on Gox?

Presumably having only one account gives possibility to trade with yourself. Does mt gox set any constraint that lowest ASK has to be greater than highest BID ?
fred0
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February 04, 2012, 07:16:36 PM
 #12

What stops one person trading with himself on two accounts on Gox?

Presumably having only one account gives possibility to trade with yourself. Does mt gox set any constraint that lowest ASK has to be greater than highest BID ?
Good idea, why don't you try it out, and see what happens?
epetroel
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February 04, 2012, 07:24:43 PM
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Good idea, why don't you try it out, and see what happens?

You certainly can trade with yourself on Gox.  I have a bot that (unwittingly) ends up doing this on occasion.
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February 05, 2012, 11:38:50 AM
 #14


which may be the point, i presume. the OP inquires about the feasibility of establishing two accounts on MtGox, and then trading with oneself such that one's volume meter exceeds the threshold for minimum fees.

what say you?

 Shocked

 Roll Eyes

Me say don't drink and post.

Edit: BTW, I calculated it for the fun, it costs something like 1350 BTC per account. Since the high-volume discounts are ridiculously puny, expect 3/4 of this as losses, which means more than 2000 BTC pure losses every 30 days to keep the show up, and that's only if you would trade six-digit BTC sums in that time-frame anyways -- which you have to if the manipulation is to make up for that kind of money.
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February 05, 2012, 02:56:40 PM
 #15

I think the better question to ask is, is MtGox trading with it self to make prices higher...
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Bigpiggy01
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February 05, 2012, 03:25:26 PM
 #16

Quote
I think the better question to ask is, is MtGox trading with it self to make prices higher...

That's about the one thing I feel reasonably sure they aren't doing as they're getting themselves audited etc. And compliance for financial institutions in Japan a harsh. In light of that it would be pretty close to pissing your pants to keep warm during a blizzard.




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