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Author Topic: How will this mtgox screw-up affect the price?  (Read 4192 times)
kentrolla
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July 21, 2012, 05:26:04 AM
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I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad  

any thoughts?

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July 21, 2012, 05:29:54 AM
 #2

I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad   

any thoughts?

Maybe it's weaklings driving this rally, but I'd think most of the big players know that this kind of crap happens with websites and that's why bitcoin is awesome. Maybe it will remind a big player that the big exchange can be overthrown pretty easily. Hopefully all the other exchanges get a little extra action out of this too.

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July 21, 2012, 05:34:28 AM
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it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before.  no big deal, just a delay in trading
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July 21, 2012, 05:42:54 AM
 #4

it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before.  no big deal, just a delay in trading


but to some of us time is money....delay = -money

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Hexadecibel
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July 21, 2012, 05:47:36 AM
 #5

What mt. gox screw-up?...
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July 21, 2012, 05:50:18 AM
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Unregulated exchange trading unregulated crytotokens operating  a true 24 hour international market suffers computer glitch.

You may commence to panic at any time...
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July 21, 2012, 05:50:49 AM
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What mt. gox screw-up?...

Open clarkmoody lol  Smiley
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July 21, 2012, 05:52:48 AM
 #8

it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before.  no big deal, just a delay in trading


but to some of us time is money....delay = -money

what can you do?
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July 21, 2012, 05:53:14 AM
 #9

What mt. gox screw-up?...

Open clarkmoody lol  Smiley
I don't understand... I don't see anything odd at clarkmoody.
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July 21, 2012, 05:58:40 AM
 #10

What mt. gox screw-up?...

Open clarkmoody lol  Smiley
I don't understand... I don't see anything odd at clarkmoody.

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July 21, 2012, 05:58:46 AM
 #11

Unregulated exchange trading unregulated crytotokens operating  a true 24 hour international market suffers computer glitch.

You may commence to panic at any time...

while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

https://www.google.com/search?hl=en&q=ny+stock+exchange+glitch

https://www.google.com/search?hl=en&q=dow+jones+glitch
David M
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July 21, 2012, 06:01:55 AM
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while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

This should be directed at the OP.  Perhaps my sarcasm was too subtle...
kentrolla
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July 21, 2012, 06:02:28 AM
 #13

any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

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July 21, 2012, 06:03:39 AM
 #14

while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

This should be directed at the OP.  Perhaps my sarcasm was too subtle...

my comment directed to whomever  may decide to start panicking
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July 21, 2012, 06:04:42 AM
 #15

any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

put in a sell at market?  i guess.  My guess is Gox will be down for 5+hours at least... maybe 24+

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July 21, 2012, 06:06:28 AM
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any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

put in a sell at market?  i guess.  My guess is Gox will be down for 5+hours at least... maybe 24+

That is if Tux is not in Poland right now and only him being able to access and fix live site from his Japan office
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July 21, 2012, 06:12:58 AM
 #17

I remember the last time something like this happened someone had to call his phone and wake him up.

In fact I think I emailed them about that...

ooo here it is

Quote
Hello,

At approximately 23:00JST on June 23, 2012, trading became unavailable due to an invalid trade order which was not checked correctly by the Add Order API. The trading system however, detected this and halted itself to wait for further instructions, resulting in this outage.

Trading is now back to normal. We apologize for the inconvenience our users have suffered because of this outage and would like to thank you for your patience through this issue. If you have any further questions regarding this matter, please do not hesitate to contact us.
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July 21, 2012, 06:17:31 AM
 #18

I think the reason Mt. Gox froze was because of huge buy orders for hundreds of thousands of dollars worth of bitcoins, and not because of sell orders - the price spiked up to $9.30+ as seen below:



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July 21, 2012, 06:18:41 AM
 #19

Am I reading that volume of 500k correctly?  Shocked
kentrolla
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July 21, 2012, 06:28:28 AM
 #20

what happened to the price last time this happened?

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