Kazu
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April 13, 2013, 06:58:07 PM |
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How can people say that the lag is caused by selloffs now. There was NO selloff going on, BTC had been at almost exactly $110 for nearly 12 hours. Yet people are running around trolling about Gox trying to manipulate the price upward with lag.
I was watching live, there was a decent sell off, and it broke the price triangle downwards, and that was the start of the lag. I was watching too. The triangle formed around $110, there was a "break" upwards, turned out to only bring it to $120 then down to $115, where it stayed for a while, then there was a "break" downwards, turned out to only bring it down to $110 again, stayed there for a bit lag kicked in and now we are screwed. This, the triangle broke upwards many hours ago. In terms of lag, Coined, you experienced it first hand, I didn't. Whatever is happening right now is unacceptable. There is very little activity. I don't get it.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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ManBearPig
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April 13, 2013, 06:58:26 PM |
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This is what I'm saying: I'm looking at ALL trades on multiple charts, I don't see a ton of 0.01 or 0.02 trades, just normal, low-volume trade going on.
The attackers choose a high and a low point:
Put in spread bids at desired low-price, begin sell-off and commence DDoS at the same time.
This is the only thing that makes sense unless you have a tin-foil hat.
Would be interesting to look at the pattern of Bid wall development right before this happens.
I should screen record the next one.
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tbcoin
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April 13, 2013, 06:59:51 PM |
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Btccharts wall pic please
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NamelessOne
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April 13, 2013, 07:00:14 PM |
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Lag appeared to be dropping rapidly a couple minutes ago. Fell from 30+ and settled around 28 and is hovering.
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Digikeys
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April 13, 2013, 07:00:43 PM |
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This is what I'm saying: I'm looking at ALL trades on multiple charts, I don't see a ton of 0.01 or 0.02 trades, just normal, low-volume trade going on.
The attackers choose a high and a low point:
Put in spread bids at desired low-price, begin sell-off and commence DDoS at the same time.
This is the only thing that makes sense unless you have a tin-foil hat.
Would be interesting to look at the pattern of Bid wall development right before this happens.
I should screen record the next one.
mtgox.com is still up and responding well tho?
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ManBearPig
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April 13, 2013, 07:01:54 PM |
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This is what I'm saying: I'm looking at ALL trades on multiple charts, I don't see a ton of 0.01 or 0.02 trades, just normal, low-volume trade going on.
The attackers choose a high and a low point:
Put in spread bids at desired low-price, begin sell-off and commence DDoS at the same time.
This is the only thing that makes sense unless you have a tin-foil hat.
Would be interesting to look at the pattern of Bid wall development right before this happens.
I should screen record the next one.
mtgox.com is still up and responding well tho? Yes indeed the front-end and trade servers MUST BE different for sure.
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proudhon
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April 13, 2013, 07:02:01 PM |
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Btccharts wall pic please
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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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EnergyVampire
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April 13, 2013, 07:02:37 PM |
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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/entering orders simultaneously?
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stereotype
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Activity: 1554
Merit: 1000
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April 13, 2013, 07:04:25 PM |
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This is what I'm saying: I'm looking at ALL trades on multiple charts, I don't see a ton of 0.01 or 0.02 trades, just normal, low-volume trade going on.
The attackers choose a high and a low point:
Put in spread bids at desired low-price, begin sell-off and commence DDoS at the same time.
This is the only thing that makes sense unless you have a tin-foil hat.
Would be interesting to look at the pattern of Bid wall development right before this happens.
I should screen record the next one.
0.04's at the moment.
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dmiceman
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April 13, 2013, 07:05:16 PM |
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Yes indeed the front-end and trade servers MUST BE different for sure.
Looks like you don't get my point. How external attackers can access servers inside gox infrastructure? This is pretty unbelievable.
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ManBearPig
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April 13, 2013, 07:07:00 PM |
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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.
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dmiceman
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April 13, 2013, 07:10:21 PM |
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I know an answer. Gox just wish to register new Guinness book record -- slowest market crash in a history.
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Kazu
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April 13, 2013, 07:13:03 PM |
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Yes indeed the front-end and trade servers MUST BE different for sure.
Looks like you don't get my point. How external attackers can access servers inside gox infrastructure? This is pretty unbelievable. Step 1: Wait for spread. Step 2: Make 3 accounts. Step 3: Deposit 0.5 bitcoin into each. Step 4: Sell 0.5 bitcoin from one of them. Step 5: Make a bot that buys your own 0.5 bitcoin back over and over and over for 0% fee until spread closes.
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NamelessOne
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Activity: 840
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April 13, 2013, 07:13:18 PM |
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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.
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ManBearPig
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April 13, 2013, 07:15:48 PM |
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I see the 0.04s surely they alone are not enough to cause this. Maybe they ARE a means of synchronising the attack somehow?
With free trades you could do this all day, only paying for the DDoS botnet time.
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ManBearPig
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April 13, 2013, 07:18:32 PM |
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Yes indeed the front-end and trade servers MUST BE different for sure.
Looks like you don't get my point. How external attackers can access servers inside gox infrastructure? This is pretty unbelievable. Step 1: Wait for spread. Step 2: Make 3 accounts. Step 3: Deposit 0.5 bitcoin into each. Step 4: Sell 0.5 bitcoin from one of them. Step 5: Make a bot that buys your own 0.5 bitcoin back over and over and over for 0% fee until spread closes. Yep, that works. I would imagine more accounts than 3 though.
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Missionary
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April 13, 2013, 07:19:50 PM |
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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!
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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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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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April 13, 2013, 07:20:33 PM |
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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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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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Sitarow
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April 13, 2013, 07:26:22 PM |
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seleme
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Duelbits.com
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April 13, 2013, 07:27:55 PM |
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1500 btc wall on 100 half an hour ago. I guess that's broken long time ago.
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