Topic: BTC-E crash to $150! - page 3. (Read 6146 times)

Your theory sounds more realistic if it brought some income for bears) I cannot see the volume statistics there that were bought/sold at that time  point. It was done overnight when most of traders from East European countries were asleep. And besides btc-e is currently down.
Maybe they are facing some security issues or being under ddos attack. Hope we will hear some explinations from them soon.

i think it's pretty obvious that this was a bear raid to trigger stops in a thin market. Someone smashed it down, triggering stop-losses and picked up a bunch of cheap coins. Yes, some standing buy orders will have been filled, and a few lucky people got some cheap coins too, but overall mostly people got raped and one entity made a huge profit.
All happened too quickly for any new orders to be placed.

Was it done with inside knowledge of the order book? Quite possiblly, but we will never know. Could easily have been the exchange itself.

I don't buy any 'fat-finger' theories. Rape and pillage much more likely IMO - this is Bitcoin ...

Just my 2c

When I woke up today and saw the on ZeroBlock app BTC went low at 150$ first reaction was a shock
started to point at other exchangers but everything there was fine there with price jumps.
just a little correction..btc-e is always lower a few bucks then the others..
I c no point of getting rid of coins for such a low price but a simple human mistake) or a bot mistake

might be possible. But you would have to have a waiting order, otherwise you could not catch it mannually. I was working on PC at that time so I saw it from the beginning. I tried to buy cheap BTC through MT4 but it was tricky since you got filled by completely different and much worse price and only by very small parts and finally I couldnot get out from the trade by any means. The pain lasted for 2 hours and the result was only a few USD profit. And unfortunately I didnot delete old order to sell when price drops under 200 (which caused me huge loss) so I think the drop could be caused also by some (old?) orders from other people which were left on some robots which are connected through API, so robots might started to sell BTC once price dropped.

I dont feel good about things which are hapenning at BTCe , especially when price is almost all the time 10 USD or more different from other exchanges. I wanted to move all my money from MT4 unfortunately BTCe web page is unavailable and without acces to their web I think I cannot send them request. Of course their support never responded so its useless to ask them, I think.
If anyone is interested about their MT4 write me PM, I can tell you more details.
At the beginning I liked their offer with MT4 however in last months it got spoilied, you cannot make big trades, you got bad filling, I wouldnot be surprised if they "group" users according to criterias, so I probably see different price than other users, strange is when price moves almost exactly according to your waiting orders (like it touches for a moment exactly your SL etc]  not to mention that MT4 price is completely different from other exchanges like OK coin so everytime you have to work separately with different numbers. It seems to me, they allow you only to make very tiny profit like 10 USd but once you try to get more you are faced with many obstacles. But if you dont set up SL or TP then you risk huge loss on moves like which were on weekend. So the only possibility is unfortunately to go away or you can blame only yourselves.
Unfortunately, I think MT4 on BTCe is a classic model of relationship broker - customer where customers profit is loss for broker, so broker takes care of "profitable" customers? Or is it not like this?

Any BTC-E employees, or someone on the inside, blow the whistle.

What happened to allow a crash to 150 on LOW VOLUME?

Also, anybody with open orders in BTC-E before this event I want to know if anything fishy showed up.  Were your open orders honored in the deep crash positions?

thousand$ in fees?

$150 not good at all.

Some guy on BTC-e claimed he had a 35 BTC buy fill yesterday at 180. He was positively giddy about it

I recall a fair bit of crowing when people got their lowball bids filled with the 102 event.

mr102 was a real event as tons of buy orders all the way down got filled.  
this seems more strange as there aren't many people celebrating getting cheap coin.  

in my opinion, from one side, it is a marketing trick to get people to get money into btc-e and keep it there without actually buying coin speculating a big drop. from the other, just theft and abuse of knowing who has what orders in and where. 

remember, its all funny money until you withdraw.

man, the chart is really annoying to look at now Just one huge spike and no details of the day -.-

BTC-e just doesn't have the volume to support big players. Nothing happened the idiot who dumped just ended up selling for below $200 when he could do it for $280 on any other exchange.

BTC-e hit $102 with a 4000 coin sell in Feb 2014 when it was $600 ish elsewhere. I think it nearly cleared the order book. That joint marches to the beat of a different drum.

Is this code for Mircea Popescu?

A few thousand coins market sold into an bidside with no depth is just giving money to those with low lying speculative bids.

Glancing at the other exchanges, they unsurprisingly do not show the same volatility (bitfinex -1%).

Such extreme market moves simply move clients away from smaller exchanges to those with decent volume and orderbook depth.

When I saw it the first time, I was afraid if there was a bug in the blockchain.

But it was just Mr. 102. 

So, you just made 70$ profit. How much did you wait for it?

this once again shows that it pays off to place low buy orders. it's the second time btc-e had an insane flash crash. it wasn't much but i managed to buy 1 btc at $200 

For anybody interested, here is the official statement from BTC-E owners regarding this and other similar incidents in the past that had losses of customer funds as an unfortunate consequence.



http://languagelog.ldc.upenn.edu/myl/ExpletiveDeficit1.jpg

imo u are wrong since FXopen only went to 198