btcchina.com is down -> GAME OVER -> another mt.gox ?
Topic: BTCchina IS BACK, bank deposits restored!!! (Read 8450 times)
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btcchina.com is down -> GAME OVER -> another mt.gox ?
it is going down, the crypto oracle has predicted it
(this is confirmed)
(this is confirmed)
See, now it looks like he's playing proudhon's game but you can't even tell.
I bet he's a proudhon alt.
A poudhon alt !!!
That made me LOL
I don't trust any of the alt-hons. Most of them are little more than cheap copies of the original proudhon.
That sounds like bad news. Do you have confirmation of it?
Confirmed.
it is going down, the crypto oracle has predicted it
(this is confirmed)
(this is confirmed)
See, now it looks like he's playing proudhon's game but you can't even tell.
I bet he's a proudhon alt.
A poudhon alt !!!
That made me LOL
I don't trust any of the alt-hons. Most of them are little more than cheap copies of the original proudhon.
That sounds like bad news. Do you have confirmation of it?
it is going down, the crypto oracle has predicted it
(this is confirmed)
(this is confirmed)
See, now it looks like he's playing proudhon's game but you can't even tell.
I bet he's a proudhon alt.
A poudhon alt !!!
That made me LOL
I don't trust any of the alt-hons. Most of them are little more than cheap copies of the original proudhon.
when an asset more than halves in volume, it crashes. period. I dont deny the capacity to crash more. but the crash was a chinese crash. it is done and over with. Tell me what force in China will drive the crash tomorrow? there will be no open exchanges!
it is going down, the crypto oracle has predicted it
(this is confirmed)
See, now it looks like he's playing proudhon's game but you can't even tell.
I bet he's a proudhon alt.
A poudhon alt !!!
That made me LOL
Conceptualize what's happening...
one guy has a bot that he's sleeping in.. it will buy at one price and sell at another based on a preset margin. It doesn't place "limit orders" it places "market orders".
Another guy... much wiser... has realized that by placing limit orders on the books will
1) entice this other bot to buy and sell at ever decreasing margins
2) EARN "maker" fees for the winner
3) Leave the loser to wake up not just to the fees associated w/ buying and selling 100 or 200 BTCs... but 50,000 BTC worth of fees.
Someone is going to wake up so F'ed its not funny...
And someone else is going to be swimming in a BANK of maker fees.
awww SNAP!!!
Some has just had
over 100 BTC drained to nothing
in market order fees in less than 2 hours because they slept in a market order bot... and someone else exploited that bot w/ a limit order bot.
one guy has a bot that he's sleeping in.. it will buy at one price and sell at another based on a preset margin. It doesn't place "limit orders" it places "market orders".
Another guy... much wiser... has realized that by placing limit orders on the books will
1) entice this other bot to buy and sell at ever decreasing margins
2) EARN "maker" fees for the winner
3) Leave the loser to wake up not just to the fees associated w/ buying and selling 100 or 200 BTCs... but 50,000 BTC worth of fees.
Someone is going to wake up so F'ed its not funny...
And someone else is going to be swimming in a BANK of maker fees.
awww SNAP!!!
Some has just had
over 100 BTC drained to nothing
in market order fees in less than 2 hours because they slept in a market order bot... and someone else exploited that bot w/ a limit order bot.
I would tend to agree. Would make perfect sense.
but but china banned BTC!!!!111
Looks like we're gearing up for take off tomorrow...bears might get slaughtered and thrown down the gutter.
Amazing what the world has become in these early digital age.
It's almost an academic example of exponential evolution, taking the last century as reference.
It's almost an academic example of exponential evolution, taking the last century as reference.
Quote
Maker-Taker is a system whereby those posting multiple buy/sell offers and increase liquidity in the market (“makers”)
are paid a fee,
whereas those who take the offers and remove market liquidity (the “takers”) are charged a fee of 0.3%.
are paid a fee,
whereas those who take the offers and remove market liquidity (the “takers”) are charged a fee of 0.3%.
Conceptualize what's happening...
one guy has a bot that he's sleeping in.. it will buy at one price and sell at another based on a preset margin. It doesn't place "limit orders" it places "market orders".
Another guy... much wiser... has realized that by placing limit orders on the books will
1) entice this other bot to buy and sell at ever decreasing margins
2) EARN "maker" fees for the winner
3) Leave the loser to wake up not just to the fees associated w/ buying and selling 100 or 200 BTCs... but 50,000 BTC worth of fees.
Someone is going to wake up so F'ed its not funny...
And someone else is going to be swimming in a BANK of maker fees.
awww SNAP!!!
Some has just had
over 100 BTC drained to nothing
in market order fees in less than 2 hours because they slept in a market order bot... and someone else exploited that bot w/ a limit order bot.
one guy has a bot that he's sleeping in.. it will buy at one price and sell at another based on a preset margin. It doesn't place "limit orders" it places "market orders".
Another guy... much wiser... has realized that by placing limit orders on the books will
1) entice this other bot to buy and sell at ever decreasing margins
2) EARN "maker" fees for the winner
3) Leave the loser to wake up not just to the fees associated w/ buying and selling 100 or 200 BTCs... but 50,000 BTC worth of fees.
Someone is going to wake up so F'ed its not funny...
And someone else is going to be swimming in a BANK of maker fees.
awww SNAP!!!
Some has just had
over 100 BTC drained to nothing
in market order fees in less than 2 hours because they slept in a market order bot... and someone else exploited that bot w/ a limit order bot.
Can someone please explain what they are doing and why? I guess they are creating volume but I don't fully understand the ramifications. Sorry for the noob question.
fact is that anybody is creating volume... but this volume means nothing, it doesnt change the value.question is who and why... i just read that they have started their "maker-taker" fee structure and give out the fee as prize to a lucky customer.
so i see two options:
1. some traders just buy and sell to get the prize
2. btcchina is testing out their new system themself and generate fake volume, also to lure customers maybe.
just brainstorming... nothing confirmed
Now a bot that hasn't taken this recently-added incentive into account is buying and selling into the market-making bots' orders. I am not surprised they found a bot to exploit, BTCChina has been dead for a while. The bot is slowly losing a lot of money though, when the owner wakes up in the morning he will be pissed lol.
Maker- Taker has been active at BTCChina for 2-3 weeks, not?
(1) I'm glad someone actually understands what's going on and is not taking the tinfoil hat approach. It is obvious that this is whales buying and selling to themselves each other with bots.
(2) The maker-taker reward may have been active for that long, but it's just now gotten more publicity, AND bank transfers are functional again (although there is a holiday period) which may have sparked whale interest enough to get things going.
ahahahahahaha
Can someone please explain what they are doing and why? I guess they are creating volume but I don't fully understand the ramifications. Sorry for the noob question.
fact is that anybody is creating volume... but this volume means nothing, it doesnt change the value.
question is who and why... i just read that they have started their "maker-taker" fee structure and give out the fee as prize to a lucky customer.
so i see two options:
1. some traders just buy and sell to get the prize
2. btcchina is testing out their new system themself and generate fake volume, also to lure customers maybe.
just brainstorming... nothing confirmed
What is happening is that BTCChina has recently instituted a reward for market-making (google market-maker). This means that a whale can set huge buy and sell orders very close to each other and make money off of others buying and selling into them. This happens on Wall Street all the time, and now Bobby Lee has actually incentivized it. It's a genius move in my opinion, it reduces volatility and increases liquidity.
Now a bot that hasn't taken this recently-added incentive into account is buying and selling into the market-making bots' orders. I am not surprised they found a bot to exploit, BTCChina has been dead for a while. The bot is slowly losing a lot of money though, when the owner wakes up in the morning he will be pissed lol.
Maker- Taker has been active at BTCChina for 2-3 weeks, not?
Can someone please explain what they are doing and why? I guess they are creating volume but I don't fully understand the ramifications. Sorry for the noob question.
fact is that anybody is creating volume... but this volume means nothing, it doesnt change the value.
question is who and why... i just read that they have started their "maker-taker" fee structure and give out the fee as prize to a lucky customer.
so i see two options:
1. some traders just buy and sell to get the prize
2. btcchina is testing out their new system themself and generate fake volume, also to lure customers maybe.
just brainstorming... nothing confirmed
What is happening is that BTCChina has recently instituted a reward for market-making (google market-maker). This means that a whale can set huge buy and sell orders very close to each other and make money off of others buying and selling into them. This happens on Wall Street all the time, and now Bobby Lee has actually incentivized it. It's a genius move in my opinion, it reduces volatility and increases liquidity.
Now a bot that hasn't taken this recently-added incentive into account is buying and selling into the market-making bots' orders. I am not surprised they found a bot to exploit, BTCChina has been dead for a while. The bot is slowly losing a lot of money though, when the owner wakes up in the morning he will be pissed lol.
u know what i learned when i hear things like that .... and see some random chart waves .... i dump all for fiat 
... and see what happen
... and see what happen 
Can someone please explain what they are doing and why? I guess they are creating volume but I don't fully understand the ramifications. Sorry for the noob question.
fact is that anybody is creating volume... but this volume means nothing, it doesnt change the value.
question is who and why... i just read that they have started their "maker-taker" fee structure and give out the fee as prize to a lucky customer.
so i see two options:
1. some traders just buy and sell to get the prize
2. btcchina is testing out their new system themself and generate fake volume, also to lure customers maybe.
just brainstorming... nothing confirmed
Can someone please explain what they are doing and why? I guess they are creating volume but I don't fully understand the ramifications. Sorry for the noob question.
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