Bitcoin spike | Bitcointalksearch.org

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sr. member

Activity: 295

Merit: 250

Quote from: Adam on June 23, 2011, 08:18:29 AM

Those are the two trades:

Jun 22, 2011, 22:14:01 5000.00000 0.00
Jun 22, 2011, 22:13:02 500.00000 0.01

Probably someone spending a fiver to test the trade-matching algorithm posted here:

http://forum.bitcoin.org/index.php?topic=4984.msg260989#msg260989

(I'm guessing the first trade was for 0.001 BTC, or Britcoin lets you buy 0 bitcoins?)

I've always assumed I'm posting an offer I'd like to deal at, rather than some kind of minimum/maximum level. Seems fairly straightforwards IMHO.

Adam

full member

Activity: 224

Merit: 100

Those are the two trades:

Jun 22, 2011, 22:14:01 5000.00000 0.00
Jun 22, 2011, 22:13:02 500.00000 0.01

Not exactly a big influence on the real market, just messes with the graphs. I don't know how the exchange works, but I can't imagine why the exchange would allow purchases so much higher than the actual market rate. A market order or limit order should always try to match the buyer with the lowest current ask. Were there just 0 sellers with standing orders so 500 and 5000 were actually the lowest, or is it just people trying to mess with the graph with tiny transactions?

flug

sr. member

Activity: 280

Merit: 250

Britcoin has a non-standard way of matching trades, and a non-intuitive way of entering trades, which is a recipe for wierd trades like that happening. There are so many exchanges out there that work in a certain way.. I don't know why anyone would want to deviate from the norm like this.

ableorange

newbie

Activity: 11

Merit: 10

^

Topic: Bitcoin spike (Read 1494 times)