Topic: 1 BTC = 1,000,000,000 USD? (Read 5912 times)

+1

Just started reading this thread and this is the first thing I thought of when I got to post 2.


I was just thinking about you: https://bitcointalksearch.org/topic/m.1090175

~Bruno~

It's annoying that sell orders placed after the glitch were unceremoniously deleted.

I placed some before going to sleep..  grr.

It would be nice to have the option to have SMS alerts if customer data is being 'deleted' or rolled back for some bizarre reason.

Next glitch: $1 trillion/btc!

You MG guys are on crack. LOL

I have cleared the cancelled trades and rebuilt the bars affected by those trades. So the charts should look normal again.

Just too small. A zero trade is not allowed by the trade system.

The live trade stream was capped in the first post of this thread:
https://bitcointalksearch.org/topic/bitcoin-hit-1-billion-today-gox-volcano-just-exploded-again-99558

It looks like there was just one kooky trade and then normal trading continued. The value is 0 or too small to be shown.

Hello,

Please find our announcement regarding this issue below.

Hello Mt.Gox Users,

Trading was unavailable for a short period of time today.  There were invalid trades taking place as well as trade orders that could not be cancelled.  Therefore we had to halt the trading engine and consequently, most ask orders were cancelled.

However, we have resolved this issue and trading has now resumed. Invalid trades have been cancelled and trade orders can now be cancelled. Users who have had their ask orders cancelled are kindly requested to place their orders again.

We apologize for the inconvenience caused and we will make every effort to prevent this from happening again in the future.  Thank you for your continued support to Mt.Gox.

UPDATE:  After investigating, we found out that the issue is likely due to an old piece of code in the trade engine that checks for bid/ask cross (i.e. negative spread). This piece of code would check for bids and asks differences, but did not make sure that both were in the same currency.

To prevent this bug issue from recurring, we have placed some extra checks to halt trading automatically should a similar issue happen again. Thank you once again for your kind understanding in this matter.

UPDATE 2:  It appears that some new trade engine features that were rolled into production earlier today caused this bug to become possible. We have now found the exact cause and resolved this bug.
We now are 100% confident that today's problem was due to a technical glitch and we would like to assure that it was not caused by any malicious attempts.

Source: https://support.mtgox.com/entries/21845378-resolved-outage-35046-trading-unavailable

What was the amount of the $1B trade?  (How many coins at that price?)  Just curious...

I took the $1B trade out of my database. I might just have to re-scan from Gox to see what else has changed. For instance, I'm still showing a few coins changes hands above $12.75.

Any $1,000,000,000 trade should be around 5:40, but the data is missing. Either there was no trade, or it was rolled back a bit so a trader wasn't stuck buying at that price):

mtgoxUSD,2012-08-09,05:39:50,1344515990,11.75019,0.35
mtgoxUSD,2012-08-09,05:39:50,1344515990,11.74039,0.35
mtgoxUSD,2012-08-09,05:39:50,1344515990,11.73059,0.35
mtgoxUSD,2012-08-09,05:39:50,1344515990,11.72079,0.35
mtgoxUSD,2012-08-09,05:39:50,1344515990,11.71099,0.15
mtgoxUSD,2012-08-09,05:39:51,1344515991,11.7894,0.01 (last trade)
mtgoxUSD,2012-08-09,06:17:16,1344518236,11.79906,0.01
mtgoxUSD,2012-08-09,06:17:18,1344518238,11.7991,4.21
mtgoxUSD,2012-08-09,06:17:18,1344518238,11.8,4.41
mtgoxUSD,2012-08-09,06:23:46,1344518626,11.78939,5.0
mtgoxUSD,2012-08-09,06:23:46,1344518626,11.71099,0.2
mtgoxUSD,2012-08-09,06:23:47,1344518627,11.70119,0.35

That exact scenario happened to me twice this morning.

I thought this was going to be another thread where someone decided to divide the world economy by the number of bitcoins to deduce what they "should" be worth.

It's a good day to tell your bot to put in $1,000,000,000 sell orders every second. Some other bot might "taste" them.

This is a bad day to be actually trying to sell coins, it seems...  You see the high price, move money into the mountain and then your sell orders disappear before they can be filled...  or else your transactions are rolled back. 

I've seen prices higher than 12.50$ but High on Gox is below 12$. Weird.

rollback on price chart at MtGox, happened again.

Yup

sell orders disappeared again.