Wall Observer - MtGoxUSD wall movement tracker

[elux]

[fingerpaint]

DUMP!!!

[GreekGeek]

sell sell sell
I want my coins back!

[ManBearPig]

I guess that's what a small sell-off likes look with sub-second lag.

Panic! Oh wait.

[molecular]

thanks for these updates.

can someone explain why the bid sum went down drastically quite a while before the drop with price being stable and even rising?

[ElectricMucus]

can someone explain why the bid sum went down drastically quite a while before the drop with price being stable and even rising?

Nagle wasn't here yet. 

[GreekGeek]

MtGox is closing for 8 days? 


Though, on second thought, that's not entirely a bad thing.

Well in retrospect is makes the "hack" story shine in a whole new light.

where did you hear that?

[ElectricMucus]

MtGox is closing for 8 days? 


Though, on second thought, that's not entirely a bad thing.

Well in retrospect is makes the "hack" story shine in a whole new light.

where did you hear that?

I came up with it myself. But it isn't that hard to follow imo.
Wild speculative, but still possible.

[elux]

can someone explain why the bid sum went down drastically quite a while before the drop with price being stable and even rising?

MtGox allowed cancelling active orders, but no placement of new orders during the 12hr "market cooldown".

Great idea! (Ten points for trying, minus several million for good thinking.)

Predictably, buyers scrambled to cancel their bids, while sellers mostly stayed put.

[dani]

whats going on right now? All for a sudden we lost ~$8 and it looks like we go a little DEEPER...

92.90 @gox

[just1nmc]

whats going on right now? All for a sudden we lost ~$8 and it looks like we go a little DEEPER...

92.90 @gox

Nothing new, just some selling. Can't really expect it to just sit at $100 forever without someone making a move.

[Kazu]

Quickly reposting this here, figured somebody might want it.

[silvermario]

looks familiar?

pretty close

[rpietila]

can someone explain why the bid sum went down drastically quite a while before the drop with price being stable and even rising?

MtGox allowed cancelling active orders, but no placement of new orders during the 12hr "market cooldown".

Oh. What any exchange anywhere in the real world would have done, would be along these lines:
- Close trading for at least 24 hours to enable notification to all account holders
- Erase all existing orders
- Allow placement of new orders
- Execute an "opening", where all the bids and asks are matched against each other, and the market cleared with one price (and probably huge volume as all market orders and a good number of limit bids and asks would be instantly executed). Only after this the open trading would commence.

It is sad that they seem to have no experience whatsoever concerning the basics on how to run an exchange.

[Come-from-Beyond]

It is sad that they seem to have no experience whatsoever concerning the basics on how to run an exchange.

They do, for about 3 years, don't they?

[molecular]

Oh. What any exchange anywhere in the real world would have done, would be along these lines:
- Close trading for at least 24 hours to enable notification to all account holders
- Erase all existing orders
- Allow placement of new orders
- Execute an "opening", where all the bids and asks are matched against each other, and the market cleared with one price (and probably huge volume as all market orders and a good number of limit bids and asks would be instantly executed). Only after this the open trading would commence.

How is that "one price" determined?

[kiko]

Oh. What any exchange anywhere in the real world would have done, would be along these lines:
- Close trading for at least 24 hours to enable notification to all account holders
- Erase all existing orders
- Allow placement of new orders
- Execute an "opening", where all the bids and asks are matched against each other, and the market cleared with one price (and probably huge volume as all market orders and a good number of limit bids and asks would be instantly executed). Only after this the open trading would commence.

How is that "one price" determined?

One can place an order or cancel it but nothing gets matched until the bell rings, so to speak. Conservative orders jostle around a while without executing, eventually the spread narrows. It's not so much 'one price', just that anyone bidding more than they visibly need to is a fool.

[NamelessOne]

I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.

[ElectricMucus]

I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.

At this point that makes it even more likely we get there. IMO the only way for the bulls to turn this around is a bunch of market orders to 160.
All the big fish which hadn't enough liquidity during the crash will jump at the opportunity once the bids stopped accumulating close to market price.

[creativex]

I just want to note that it is now 9000btc to get to $90. Before the sell down from $100 it was only 5000-5500 to get to $90.

At this point that makes it even more likely we get there. IMO the only way for the bulls to turn this around is a bunch of market orders to 160.
All the big fish which hadn't enough liquidity during the crash will jump at the opportunity once the bids stopped accumulating close to market price.

you really do talk a lot of nonsense

I put his static on ignore and have been happier ever since. Just sayin'.