The Fool
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February 22, 2013, 08:25:30 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
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NamelessOne
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February 22, 2013, 08:28:43 PM |
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Haha, it looked like someone was trying hard all day to keep the price below 31.30. Even after the first wall was eaten they made a new one, then it was being munched on just now, and BOOM 4k wall and sell off, lol.
Was the dump the wall at $31 or did they take it down after the dump? In the meantime we're up to where we left off It appeared at 31$ very briefly and then the dump began. It was removed after the dump as far as I could tell.
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thoughtfan
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February 22, 2013, 08:29:24 PM |
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Go bears go
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The Fool
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February 22, 2013, 08:31:55 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
First in, first out? I am not following. I think it should be implicit that if you have an order up, it should be filled when it's filled. If you make a purchase it's final in accordance to the orderbook at the time. Why not? Why give people an ability to back out?
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hmmmstrange
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February 22, 2013, 08:34:56 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
First in, first out? I am not following. I think it should be implicit that if you have an order up, it should be filled when it's filled. If you make a purchase it's final in accordance to the orderbook at the time. Why not? Why give people an ability to back out? First in first out, applies to bids or asks of the same value. You can not back out if your order has been met.
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Luno
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February 22, 2013, 08:36:01 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
Do you mean executing orders? There is a que or a certain amount of time before the order gets in the book. The delay is longer if the exchange is busy with a lot of trades. That has the effect of a queing system. I also think that if you place an order at exactly the same price as someone before you, his order is executed first. I have seen this exploited once with "order stuffing". You start a bot putting thousands of buy orders of o.o1 BTC at a certain price, then dump down to just above the price and get to buy back the panic sellers before anyone else gets a chance to get in on the bargain as Gox is busy putting in all your 0.01 orders.
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The Fool
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February 22, 2013, 08:37:47 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
Do you mean executing orders? There is a que or a certain amount of time before the order gets in the book. The delay is longer if the exchange is busy with a lot of trades. That has the effect of a queing system. I also think that if you place an order at exactly the same price as someone before you, his order is executed first. I have seen this exploited once with "order stuffing". You start a bot putting thousands of buy orders of o.o1 BTC at a certain price, then dump down to just above the price and get to buy back the panic sellers before anyone else gets a chance to get in on the bargain. Yes, I mean execution. I don't know why they just don't bundle up all the met orders and execute them all at once.
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proudhon
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February 22, 2013, 08:43:09 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Luno
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February 22, 2013, 08:44:15 PM |
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Does anyone know why Gox resolves orders one at time instead of all at once?
Do you mean executing orders? There is a que or a certain amount of time before the order gets in the book. The delay is longer if the exchange is busy with a lot of trades. That has the effect of a queing system. I also think that if you place an order at exactly the same price as someone before you, his order is executed first. I have seen this exploited once with "order stuffing". You start a bot putting thousands of buy orders of o.o1 BTC at a certain price, then dump down to just above the price and get to buy back the panic sellers before anyone else gets a chance to get in on the bargain. Yes, I mean execution. I don't know why they just don't bundle up all the met orders and execute them all at once. It would limit the advantage the bots have, as there would be execution rounds. I think some French stock exchanges work that way with 5 or 10 second rounds. I know you are not suggesting a rounds system, but that would be the effect as a number of orders have to be placed in a certain timeframe where after they are executed at once.
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Luno
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February 22, 2013, 08:51:09 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
If that is your bet, you're betting on the end of Bitcoin, if it tumbles at the same price once again it's cursed. I would rather have the "Bitcoin outpreforms silver" story in media for the weekend and "Bitcoin reaches all time high" on Monday when everybody have their attention focused.
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proudhon
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February 22, 2013, 08:53:21 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
If that is your bet, you're betting on the end of Bitcoin, if it tumbles at the same price once again it's cursed. I would rather have the "Bitcoin outpreforms silver" story in media for the weekend and "Bitcoin reaches all time high" on Monday when everybody have their attention focused. If bitcoin survives the next crash I might turn bullish, but this second time is going to turn a lot of people off I think.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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proudhon
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February 22, 2013, 08:55:48 PM |
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I'm out for the weekend. Good luck everyone.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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thoughtfan
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February 22, 2013, 08:57:22 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
Thanks for turning up proudhon, it is right and proper that you are here to talk us through this I'm enjoying it both for the fun of it but also because I'm planning to buy another lump of bitcoin on Tuesday and all of a sudden there's a glimmer of hope I may be able to get them at a price a bit lower than what feels like a high price. My reasoning and belief is that this is not a bubble and part of the growth and distribution of Bitcoin but buying in still 'feels' high. Having said that this is really early in the weekend and I don't have much confidence in this trend lasting all the way through to Monday's Japanese bank opening times let alone Tuesday pm UK time! Edit: Have a good weekend proudhon - you will be missed if this carries on
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Luno
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February 22, 2013, 09:00:59 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
If that is your bet, you're betting on the end of Bitcoin, if it tumbles at the same price once again it's cursed. I would rather have the "Bitcoin outpreforms silver" story in media for the weekend and "Bitcoin reaches all time high" on Monday when everybody have their attention focused. If bitcoin survives the next crash I might turn bullish, but this second time is going to turn a lot of people off I think. I stopped selling on a hunch long ago. I face my calculated risk standing up ( I was 20 Bitcents from my nearest small sell order). I don't sell at a 20 cent discount today or any day. (buying back higher hurts).
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mccorvic
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February 22, 2013, 09:41:24 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
The reverse-prophet has spoken. Everyone buy now while you have the chance.
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molecular
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February 22, 2013, 10:01:13 PM |
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This is probably the beginning of the race for the doors. Get your bitcoins ready everyone.
Thanks for turning up proudhon, it is right and proper that you are here to talk us through this I'm enjoying it both for the fun of it but also because I'm planning to buy another lump of bitcoin on Tuesday and all of a sudden there's a glimmer of hope I may be able to get them at a price a bit lower than what feels like a high price. My reasoning and belief is that this is not a bubble and part of the growth and distribution of Bitcoin but buying in still 'feels' high. In a constantly rising market the latest price always feels high. It will be "a bit lower" next week. If only I had a time machine... WAIT A MINUTE... you don't think it's a bubble? You could just buy now at prices "a bit lower" than next week then. But I guess you're referring to a possible dip on the weekend? Well, might happen... maybe not.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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molecular
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February 22, 2013, 10:03:07 PM |
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I don't get this "lower low on the hourly chart exploit". Can someone explain?
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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robocoin
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February 22, 2013, 10:12:33 PM |
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I don't get this "lower low on the hourly chart exploit". Can someone explain?
But please, I do this for fun. Its not professional in any way. Last 2 times it happend with a bigger ratio, a nice sell off happened. Looks like its not happening today.
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molecular
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February 22, 2013, 10:16:27 PM |
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I don't get this "lower low on the hourly chart exploit". Can someone explain?
But please, I do this for fun. Its not professional in any way. thanks. I see it now... but: who looks at the candle ends, one has look at the 1-pixel gray lines, too! This quantization of time is arbitrary. Ok, maybe people tend to look at the candles in certain timeframes... I doubt this trick has much effect, though.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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Liquid
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February 23, 2013, 12:49:21 AM |
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Bitcoin will show the world what hard money really is.
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