Topic: BTC-E crash to $150! - page 2. (Read 6057 times)

The hard number right now is the volume on the day of the crash.  

The volume does not justify a crash to that level.  How that happened needs to be investigated, and the truth come out.

If it was a glitch, so be it.  If it was collusion, we damn well should know.  What / how were the open orders cancelled without the users consent reported on this forum?  We need to know.  BTC-E owes the community a detailed explanation.

Does anyone really posses any kind of evidence for that? Because all i see is speculation and accusations without much proof or none. Cryptsy as an example used to be really inconsistent and probably still is when it comes to orders, most of the times your orders werent canceled on time or you wouldnt get your money back fast enough, as i said i never had problems with btc-e and i have been trading recently more than 0.5 bitcoins per trade.

If there is collusion going on, they would cancel open orders to make way for an insider to push the stops at critical resistance points, inducing a leveraged sell off, where that same insider buys back at a deep discount.  There is plenty of reasons for them to mess with the open orders if they have no ethics and interested only in maximizing short-term profits.

We don't know if that is indeed what happened, but if it is, the community needs to know about it.  And/or some people go to jail.

You are talking about a lot of things here but why would they mess up with your trades? What do they win by doing that? Absolutely nothing as far as i understand it. I have been using btc-e for over a year now and i have never had any problems with them, everything is always smooth, the only problem recently is the frequent ddos but you cant really do much about it.

BTC could not have crashed to 150 with that low of volume, plain and simple. 

https://bitcoinwisdom.com/markets/btce/btcusd

There was a spike in volume during the crash, but not nearly enough to push the market to that level.

On July 11th on the spike up, the volume was double the volume during the crash, and the market only moved from  a low of 265 to 298.

There is no fucking way 1/2 the volume of that move moved the market from 280 to 150!  NO FUCKING WAY!

Either there was a glitch, or collusion, clearing open orders for a insider to execute a leveraged sell off, then re-buy back at a deep discount.

Whatever really happened we need to get the truth.

Some here have reported cancelled open orders they did not cancel.  That's exactly what would happen if there was collusion to open the way for an insider to crash the market.

I hope some insiders in BTC-E blow the whistle.  If there is collusion going on the community needs to know about it.

When mt.gox crashed back in the day, their value also dropped as well.

But that was entirely just cause each exchange relied on each others support. But from on the responses its leading down to their questionable services overall on their site.

I dont know how most people get their bitcoins from btc-e.

It seems that the exchange always has times that they feel like they need to cash out by screwing someone over.

The stories of btc-e and deposits, to accounts being hacked or other misc horror with leaving funds there as well.

Well I got my response back from them, and it is not very promising as far as my trades go.... Basically telling me too bad, so sad, or in other words Sh*t Happens!



Now to try and get my money transferred out of there. I cannot access the site yet, even though I see movement on the charts and other people claiming they can get in. From the looks of it, it may be a DNS issue as I get messages which suggest this. Does anyone know the IP address so I could try to get to the site directly?

I also noticed last week (but I guess it must be all the time) (this time I printscreened it) very large orders on buy or sell side. like 1000 BTC several times in a row and then dissappear after half hour.. such big order wouldnot be strange at Bitfinex but here it looked strange - other orders were from 0.001 BTC till 1 BTC and sudenly threshold like this. Like a fist in your face.  
But of course it could be anybody like a whale or of course Exchange itself
And dont forget, BTCe webpage looks still the same as in 2012. They didnot even bother to change colors of fields..... yes they added some coins if I remember well, they made MT4 in 2013 and kind of 2FA login but thats all, Their charts on their web looks like a joke. Without robot you didnot even see chart of market depth (well its probably totally useless but again you even cannot look at it....)
The only thing which hasnot changed that they are anonymous and never been hacked....

well but I am not gonna wait so long

but to be sincere, now I checked their page, and they are on line, my money are there and if you send BTC you wait some 5-10 minutes... so I cannot say anything wrong in this way.

yes that happened to me as well, I should have made printscreen, but what I can do with them??? send them to non responding support? I will just move all my funds away... hopefully soon. As I wrote, they let you make several USD profit but when you want to multiply your strategy they stopp to execute your trade. Simple "Off quotes" error message. or lost connection. And you can ****************** And of course after you got into loss suddenly everything is smooth.... But when you try simoultaneously (eg manually at the same time ) made the same trade with 0.01 everything is OK..... what to say more?

I opened several 5.00 lot buy positions on BTCe MT4 (open a trade was quick and easy) but problem was that it was made by much worse price and the worst of all was closing - you couldnot close it partially, you couldnot close it by changing SL or TP - price was going up and down and my SL and TP field in MT4 got yellow but was not respected. (= so it could close my trade 30 USD away from SL and I wouldnot do anything with this.... you know support if even bother to answer you can tell you anything... perhaps you already trade somewhere MT4 bucketshop )
 I tried to open a small 0.05 lot of their CFD or whatever it is, and close this small position and it was smooth. But anything biger like 1.0 or even 5.0 lot position was frozen.... after about 1 hour since that drop it started to closing my position by small parts (Partially by 0.01 or 0.05 etc !!!! and of course cca 5 USD away from SL or TP}  and all that pain was finished during another hour.

I thought I made a fortune but in the end it was loss for me. Never more.
I could summartize it, I can change a bit that sentence sadi by Henry Ford: You can close your trade/ position anytime  if you are in a loss. (other wise you get "off quotes message") really funny but not for me.


Bitfinex is better for leverage trading. Problems are bigger fees. But forget 796 if you dont have good robot. 796 is worst of all cause they have "AOC"  and this funny thing close your position once you get to the certain % of loss (even if you have enough BTC on your margin account) and than it takes all your money involved in a margin trade not only the part of money which you risk. This is insane. If you trade eg 1 BTC dont tell me that they cannot find counterparty for only 1 c o c k sucking BTC....
of course problem is as you surely know, that price isnot continual/smooth (I mean price goes in thresholds, it could be 277, 278, 279 per 1 BTC and not anything between because counterparty just want to execute only at certain level... and the whole funny issue is that on 796 price is like $280 per BTC but of course sudenly it could flash within a second to $300 on the buy or sell side and the whole funny thing is that at $280 you are in a loss like 30% which is OK, but with that sudden flash you got over that sucking % set by 796 for that current week and despite price goes immediately down to $280, the c o c ksucking 796 takes ALL YOUR MONEY INVOLVED. Everybody with more than 1 braincell in their head called it daylight robbery, but 796 call it AOC .....)

perhaps the only solution of this is not to trade on leverage but 1:1. But why I would do it for their high fees??? I could trade 1:1 directly without fees on much more trusted places like Bitstamp much more comfortably where price respects other exchanges and dont make dips +-20 USD in a second...
I thought 796 could be a place where you can try to profit from some certain movements but I warn you - on 796 the price is totally different with sudden big thresholds so its impossible to trade on high leverage movements like last weeks monday cause they look totally different on 796 and your position would be very probably sudenly closed. In case you dont have a robot which can with a fraction of a second evaluate how deep you are in a loss and accomodate the position... But again... who knows whether 796 doesnot segregate clients as well and maybe if you have big position you got "off quotes" as well despite you have clever robot....

Problem is they change that % how deep it allows you to go in a loss regularly .... their price is totally different from exchanges (sometimes +20 usd up sometimes down....) I incurred a big loss after a few succesful trades and unfortunately I didnot find good platform for trading 796 (their web pages is insufficient only a fool could trade on high leverage throgh 796 webpage)


my advice is.. forget on leverage and trade 1:1 on well known exchange, maybe with reliable robot, if you want to sleep and not sit in front of screen every night

Personally I am expecting the worst out of them. I had some trades mysteriously close during the so called "crash" that should have stayed open even if the price went to 0, even had buy limits canceled for no reason that should have been filled. I have tried transferring out of my MT4 account to get my remaining funds out of that thieves den, but of course that does not work either. Three days later no support response back on my ticket and now the site is down.

Im kind of surprised with the responses im seeing here because i thought that btc-e was a pretty trusted exchange, any further argument for calling it a shady exchange? I havent seen any complaints about them whatsoever.

As we are seeing right now, the price is climbing back all the way to 280. 280 seems to be definitely some sort of new floor or stable price were it recovers after every dip and seems to go back there after small pumps. Breaking 300 again is only a matter of time, it's only 20 dollars away. Once we pass it for the third time it's game over the guys that haven't bought yet (even tho another correction could always happen but who cares, why would you risk waiting for that).

it happens too often these days

there are some trades on bitcoinwisdom, but site still is offline

Agree, I would also assume that it made BTCe itself probably. But you cannot have complicated triggers on their web page. You can done complicated trigger if you trade through API on your platform, but then I thought exchange,( nobody except the owner of platform) could see where did you put your trigger, and BTCe doesnot allow you to trade on leverage (except their tricky MT4, where I trade and see no volume). So how could BTCe know where people put their triggers?

Looks like a hosting problem rather than ddos. https://twitter.com/btcecom

but BTCe is down from the morning what is very bad. Hope it is just DDoS. And I have problems to operate with my BTCe account through zeroblock or other platforms. Do you also have unaccessible BTCe?

then it was quite profitable for the investor

By the way there is a message on their official twitter that they are handling with some network issues in the data centre.
https://twitter.com/btcecom/status/616515267028484096

It did bring a lot of income for 1 player. By 'bear raid' I mean the direction of the action was down, triggering stop losses on longs and hoovering up the coins at lower prices. That we are now back at the same price is exactly what the initiator expected. Call it a 'smash-n-grab' if you prefer
Don't see why it matters what time of day it was done.
FYI on btc-e the volume showed approx 10k transacted at the time.

Don't expect to hear anything soon from BTC-e - they are not exactly forthcoming with information. And I would not trust their explanation anyway unless it was accompanied by a reversal of trades/compensaton for losses, and that ain't gonna happen. Words are cheap ...