15,000 BTC sell order

[bb113]

So is it possible to suddenly buy mt gox asks out to, lets say, $5 then force the bitcoinica asks to pay 5$ each?

If you buy up to $5, you might get bids that high and then the Bitcoinica sellers will get more USD for their BTC.

Yea, I confused myself.

[notme]

We don't have a mechanism of removing unfunded orders at the moment, because in our system, we only process the order when the price reaches the trigger, including the margin assessment.

We didn't previously open our order book to the public so that was not part of our consideration. It's not a bug, but it does affect the usefulness of the data.

Currently we're in a process of rewriting our matching algorithm to make everything faster and more sensible. We admit that our current algorithm isn't that suitable for a large-scale trading platform like what we are now. It was designed for thousands of dollars of trade per day.

Limit orders only. This is not a reference for real market liquidity as margin assessment has not been performed.

Good call... I can make walls too now .  I want lots of BTC at 4.5...

[Spekulatius]

BOY!
Does really no one double check against another source???
Do you really believe everything blindly that u read in this forum? (got a little message for u: secret rocket is taking off! Get on board NOW!!!  )
Take a look at mtgoxlive.com and then reconsider.

hint:

[notme]

Good call... I can make walls too now .  I want lots of BTC at 4.5...

and ?

[RyNinDaCleM]

http://dl.dropbox.com/u/176027/Screenshot%20at%202012-04-10%2021:17:38.png

so what you put a order that wont be checked until reach said price  big deal you can go until 999 999 999 999

I thought it was kinda funny.   

[notme]

BOY!
Does really no one double check against another source???
Do you really believe everything blindly that u read in this forum? (got a little message for u: secret rocket is taking off! Get on board NOW!!!  )
Take a look at mtgoxlive.com and then reconsider.

hint:
http://www.imagehut.us/share/325643-Unbenannt.gif http://www.imagehut.us/graphic/2012/April/10/325643-Unbenannt.gif

ITT bitcoinica put all orders on mtgox and dont use a live trading bot

http://dl.dropbox.com/u/176027/Screenshot%20at%202012-04-10%2021:17:38.png

so what you put a order that wont be checked until reach said price  big deal you can go until 999 999 999 999

Right, I'm just demonstrating how worthless this data is.

[bb113]

I don't understand what this means at all. Is someone committed to selling all those coins?

If MtGox bids moves that high, Bitcoinica will begin to selling into those bids 50 BTC at a time until they are gone.

The price went over $4.85 on gox and nothing happened. Did you mean if the bitcoinica bids move up to $4.85?

[R-]

Now it appears there is a 50k sell order 

[marked]

that order is not fake

post about how fake are big order on bitconica go below

from the bitcoinica order book, which I have given all hope on ever understanding

btc/usd bids
$4.93   300000.0   15   300000.0

btc/usd asks
..
$4.85   14450.0   1   15250.0
$4.87   50015.0   4   65265.0
..
$4.90   80123.1   10   145456.1
..

marked

[proudhon]

that order is not fake

post about how fake are big order on bitconica go below

from the bitcoinica order book, which I have given all hope on ever understanding

btc/usd bids
$4.93   300000.0   15   300000.0

btc/usd asks
..
$4.85   14450.0   1   15250.0
$4.87   50015.0   4   65265.0
..
$4.90   80123.1   10   145456.1
..

marked

I don't really get it either.  I mean, WTF?

[miscreanity]

JP Bitcoinica plays both sides of the field for maximum win.

If you're leveraged, you'll probably lose.

[Spekulatius]

Have u considered, that there COULD be something wrong with btccharts.com ??

[proudhon]

Have u considered, that there COULD be something wrong with btccharts.com ??

Yeah, this can't be right.

[zhoutong]

Bitcoinica order book is not used for matching. We only consider Mt. Gox prices for order execution.

The order book is provided for no purpose.

[RyNinDaCleM]

Bitcoinica order book is not used for matching. We only consider Mt. Gox prices for order execution.

The order book is provided for no purpose.

Have you checked out btccharts.com/#m=btca-BTC-USD? Is it an accurate representation of your book?
Not that it really matters since orders aren't checked until time of execution anyway, so it's easily gamed.

[zhoutong]

Bitcoinica order book is not used for matching. We only consider Mt. Gox prices for order execution.

The order book is provided for no purpose.

Have you checked out btccharts.com/#m=btca-BTC-USD? Is it an accurate representation of your book?
Not that it really matters since orders aren't checked until time of execution anyway, so it's easily gamed.

It shouldn't be. We have mentioned again and again that you shouldn't use this order book for any trading decisions. They do not represent the actual liquidity.

We have always been processing orders in this manner, since the launch of the service. We had reasons to hide the order book from the public, and one of them is to avoid confusion. However, since so many people are asking for transparency, we just release our raw data to the public. (Actually in the back end, we don't really have such a nice sorted order book. In fact, I didn't even try to see aggregate orders from our customers before the order book is public.)

We *may* improve the data quality in the future, but that's not our priority. If you don't know how to use the data or don't trust it, just pretend it isn't available at all.

To put it simply: We are giving you the equal access to the data that we have, even though it could be useless for trading.

[disclaimer201]

so u dint read my warning thread ?

Didn't you get that memo???!!

;-)

[RyNinDaCleM]

Bitcoinica order book is not used for matching. We only consider Mt. Gox prices for order execution.

The order book is provided for no purpose.

Have you checked out btccharts.com/#m=btca-BTC-USD? Is it an accurate representation of your book?
Not that it really matters since orders aren't checked until time of execution anyway, so it's easily gamed.

It shouldn't be. We have mentioned again and again that you shouldn't use this order book for any trading decisions. They do not represent the actual liquidity.

We have always been processing orders in this manner, since the launch of the service. We had reasons to hide the order book from the public, and one of them is to avoid confusion. However, since so many people are asking for transparency, we just release our raw data to the public. (Actually in the back end, we don't really have such a nice sorted order book. In fact, I didn't even try to see aggregate orders from our customers before the order book is public.)

We *may* improve the data quality in the future, but that's not our priority. If you don't know how to use the data or don't trust it, just pretend it isn't available at all.

To put it simply: We are giving you the equal access to the data that we have, even though it could be useless for trading.

Thanks Zhou!

so u dint read my warning thread ?

Didn't you get that memo???!!

;-)

Me? Wat U crazy? 
I know not to use the bitcoinica order book to trade on. I don't really even trade on bitcoinica, so I definitely wouldn't use their book. I just thought it was interesting to see 145k of orders in a 1¢ range, with only 10k down to $2.00.

[R-]

Bitcoinica order book is not used for matching. We only consider Mt. Gox prices for order execution.

The order book is provided for no purpose.

Have you checked out btccharts.com/#m=btca-BTC-USD? Is it an accurate representation of your book?
Not that it really matters since orders aren't checked until time of execution anyway, so it's easily gamed.

It shouldn't be. We have mentioned again and again that you shouldn't use this order book for any trading decisions. They do not represent the actual liquidity.

We have always been processing orders in this manner, since the launch of the service. We had reasons to hide the order book from the public, and one of them is to avoid confusion. However, since so many people are asking for transparency, we just release our raw data to the public. (Actually in the back end, we don't really have such a nice sorted order book. In fact, I didn't even try to see aggregate orders from our customers before the order book is public.)

We *may* improve the data quality in the future, but that's not our priority. If you don't know how to use the data or don't trust it, just pretend it isn't available at all.

To put it simply: We are giving you the equal access to the data that we have, even though it could be useless for trading.

Interesting.

Zhou, can you please explain how you hedge yourself against risk when people take leveraged bets?