How will this mtgox screw-up affect the price?

[copumpkin]

I thought this was the usual mtgox tripwire that freezes the trading engine when big orders hit it, but it turns out the trade engine is actually in a loop, relaying the same big transaction over and over again with new timestamps and new transaction IDs (if you run your own socket.io client, you can see this). The thing climbs from 8.79 to 9.30 (~30k btc) and then snaps back to 8.79 and does it again, over and over again.

A bit disturbing, as always.

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[Bitcoin Oz]

Wow someone opened their warchest didnt they.

[Serge]

later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand.  

[smoothie]

later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand.  

market will be volatile once trading resumes

Pirate: Hey Mark, do you think you could halt all trading so I can buy all the bitcoins?

Mark: Sure no problem, just do me one favor in return, since you will have all the bitcoins I would like to collect a 7% interest rate on top of all bitcoins you will have.

Pirate: But there are no more bitcoins.....

Mark: Too bad, sucks to be you.


 

[zhalox]

Who knows, maybe bitcoin will spike to $15 or $20 next week lol  

[kentrolla]

someone plz answer this question: what happened to the price after this happened the first time??

[Yuhfhrh]

someone plz answer this question: what happened to the price after this happened the first time??

Well last month after the outage, trading went on as usual (it had no effect.) But this is a different kind of outage...

[bb113]

A similar thing happens every weekend. Gox is run 80% manually or something.

Also bitcoin is just a big experiment to test what would have happened if the fed acted different during the past decade that is getting out of control right now.

[kentrolla]

someone call magicaltux plz. i want to go to sleeep

[smoothie]

right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence.

[kentrolla]

right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence.

well, it is the weekend. So he's not receiving any support e-mails, and will probably be unaware of this issue until he checks his e-mail on monday unless someone calls him. I don't have his phone number or else i would. I know someone on this forum has his phone number. Plz tell him whats going on.

[Jointops420]

Dear MtGox,
Any chance of letting your customers know what's going on in a timely manner? You know, customers the people who have millions tied up with you and are the very reason that you are making money.
Also can you do something about that atrocious Mtgox live site and have something that is really in real time and doesn't freeze up when there's more than one trade going on at the time.
Thanks
Other than that I have no problems with your service everything else has worked good for me.

[myrkul]

Other than that I have no problems with your service everything else has worked good for me.

Other than that, Mrs. Lincoln, how was the play?

[zvs]

someone plz answer this question: what happened to the price after this happened the first time??

price went up for a few days

then it dropped down to $2

[smoothie]

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed info@mtgox.com.

[copumpkin]

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    

any thoughts?

Not to be an asshole, but can you change the subject to say "affect" instead of "effect"?

[kentrolla]

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    

any thoughts?

Not to be an asshole, but can you change the subject to say "affect" instead of "effect"?

ty for pointing that out. I'm also a stickler about stuff like that. I can't believe i screwed that one up :p

[kentrolla]

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed info@mtgox.com.

tyvm. I WANT TO TRADE! GRRR!

[mc_lovin]

I was wondering what was going on... I was selling a few coins at $9.25 and I got excited when I saw clarkmoody at $9.30... It was like puuuurfect timing, I check gox and it didn't go through...  I thought I was trippin'...  

someone plz answer this question: what happened to the price after this happened the first time??

price went up for a few days

then it dropped down to $2

If the price drops to $2 again, I'd be in heaven!  I was asleep at the wheel when that went down.

[Yuhfhrh]

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed info@mtgox.com.

tyvm. I WANT TO TRADE! GRRR!

3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol