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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1808822 times)
Missionary
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April 13, 2013, 07:19:50 PM
 #22601

Mt.Gox is killing Bitcoin.

Lag --> Fear --> Selling --> More lag --> Panic --> Dumping --> Even more lag.

I have not touched Mt.Gox in a couple of years, but the prices on all other exchanges are suffering because of their failure.

Exodus!

I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z
You can find more information about my plans here: http://btcmission.com
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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April 13, 2013, 07:20:33 PM
 #22602

Maybe there is another way... Changing a property about the order or something which doesn't cost the manipulator but is costly computationally and repeating it dozens or hundreds of times a second. Without being on the gox servers, no real way to tell.

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April 13, 2013, 07:26:22 PM
 #22603

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April 13, 2013, 07:27:55 PM
 #22604

1500 btc wall on 100 half an hour ago. I guess that's broken long time ago.

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.JINBI..

merges gold’s investment
holding value
with
blockchain technology
.
...T H E   G O L D E N   I C O...
.────────     WHITEPAPER     ────────.
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April 13, 2013, 07:28:18 PM
 #22605


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April 13, 2013, 07:31:53 PM
 #22606

Lag appeared to be dropping rapidly a couple minutes ago. Fell form 30+ and settled around 28 and is hovering.

Is it possible the lag is caused by too many people updating their orders simultaneously?

It would need to be a hell of a spike in order changing.

I don't know what percentage of orders are short-lived, in that they are either market orders or Bid or Asks who almost immediately get filled.

I suspect most orders are short-lived - just a hunch.

Down to 25.50... and we get another big seller.

Ah, yes, I believe that's the cause right there. When a large market sell order is executed, the matching engine needs to confirm that the USD is in the account for every single bid getting filled.

As someone mentioned earlier, new hardware won't fix this (Gox is supposedly using SSD now). It's the code but at least Gox is planning on fixing this soon.

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April 13, 2013, 07:32:36 PM
 #22607

1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit

Does it work?

Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY)
LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC)
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essem
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April 13, 2013, 07:34:32 PM
 #22608

can't help myself but I keep on hitting the F5 button on Gox
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April 13, 2013, 07:34:54 PM
 #22609

Are we going down? Gulp.

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April 13, 2013, 07:36:28 PM
 #22610

1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit

Does it work?

How long does it take for a cpu to count from 1 to 10000?
NamelessOne
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April 13, 2013, 07:36:36 PM
 #22611

So far I'm pretty impressed by the market through this. Its been over an hour and it has been a very slow decline. A couple panics but not a ton.
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April 13, 2013, 07:37:37 PM
 #22612

1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit

Does it work?

I'm sure the trading engine wouldn't let a single IP address create that many orders, so it has to be distributed.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
wonkytonky
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April 13, 2013, 07:38:42 PM
 #22613

if this happens.. they should block all incomming  new orders.. until lag is gone..  

bitfinex discount code : FvwrZ545k2
essem
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April 13, 2013, 07:38:46 PM
 #22614

So far I'm pretty impressed by the market through this. Its been over an hour and it has been a very slow decline. A couple panics but not a ton.

I'm pretty sure it's not going to look so pretty once the lag is over
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April 13, 2013, 07:39:42 PM
 #22615

Looks like a lot of limit orders at 105 are going to get burned
jl2012
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April 13, 2013, 07:39:53 PM
 #22616

1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit

Does it work?

I'm sure the trading engine wouldn't let a single IP address create that many orders, so it has to be distributed.

Sure, I just make it looks simpler. You need thousands of dummy accounts

Donation address: 374iXxS4BuqFHsEwwxUuH3nvJ69Y7Hqur3 (Bitcoin ONLY)
LRDGENPLYrcTRssGoZrsCT1hngaH3BVkM4 (LTC)
PGP: D3CC 1772 8600 5BB8 FF67 3294 C524 2A1A B393 6517
DougTanner
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April 13, 2013, 07:40:02 PM
 #22617

Ugh.


Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
hmmmstrange
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April 13, 2013, 07:41:58 PM
 #22618

Is there a place i can bet on goxlag? Is anyone charting the lag?
rpietila
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April 13, 2013, 07:42:26 PM
 #22619

1. Deposit 1USD to a dummy account
2. Create 10000 bid orders of 0.01BTC at $0.01 slowly (without creating lag)
3. Sell off
4. Rapidly adding new orders to the dummy account
5. The MtG card trading engine is forced to re-evaluate the validity of the 10000 bid orders
6. 30 minutes lag
7. Profit

Does it work?

As it would be a one-click decision to disable this opportunity, yet Gox does not do it, despite frequent pleas from everyone I know, it can not be attributed to incompetence. They are doing it on purpose, and it is left to the reader, what this purpose is. (Please continue to sell off your coins at every instance of lag, you will be sure the lag remains until all your coins are gone.)

If I ever set up an exchange, such charade would never find its way to the order book.

Oh yes, and the decision to abolish trading fees, what bullshit. I would have added a $1 upfront per order.
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April 13, 2013, 07:43:17 PM
 #22620

Also: is it me or are the steps in the price drops since the attack started roughly the same length as the lag at the time?

You can see people react to the first, second and third drops about 28-30 minutes later.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
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