GoxLoop™ discussion / speculation - page 4.

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: Boxman90 on December 06, 2013, 02:20:30 PM

So, a massive GoxLoop is going on.

What is GoxLoop?
Gox rewinds the orderbook periodically (6 times as of now) during a massive sell event, and replays the trades that happened in the duration of one loop. Any orders placed during the GoxLoop cannot be cancelled. Any orders placed during the GoxLoop will most likely go through after Gox decides to end the GoxLoop.

ITT: Theories, speculations, as to motivations for GoxLoop.

My theories:

- Massive market sell triggered GoxLoop so Gox can sell elsewhere while the price is still high
- Gox lets the loop run for as long as it takes them to move BTC elsewhere (be it another exchange, or w/e) for their profit.

Legal complications?

Please also discuss whether or not this is legal, and if Gox operators could suffer legal consequences, even though this market is unregulated. Would it be legal in the EU/US to do this?

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Def something is up, I was looking at the chart and knew something wasn't right. This could be goxloop playing out

Bitcoin is unregulated so def legal at this point of time

Mirsad

full member

Activity: 140

Merit: 100

Bitcoin - love & hate

Quote from: Jcw188 on December 06, 2013, 02:26:55 PM

I think if they acted at least negligently which caused the price to go down artificially they'd be subject to a lawsuit, wouldn't they? This is just speculation.

It's sucks either way.
I expected the price to drop much more.

This looks like currency control... not good for bitcoin. Exchanges can easily manipulate the market with rollback loops.

bitboyben

sr. member

Activity: 330

Merit: 250

Big dump scares the crap out of more sellers. Now more poop.

Jcw188

hero member

Activity: 546

Merit: 500

Carpe Diem

I think if they acted at least negligently which caused the price to go down artificially they'd be subject to a lawsuit, wouldn't they? This is just speculation.

wobber

legendary

Activity: 1064

Merit: 1001

They should have faced some jail already. They are so incompetent it's illegal.

Boxman90

hero member

Activity: 518

Merit: 500

So, a massive GoxLoop is going on.

What is GoxLoop?
Gox rewinds the orderbook periodically (6 times as of now) during a massive sell event, and replays the trades that happened in the duration of one loop. Any orders placed during the GoxLoop cannot be cancelled. Any orders placed during the GoxLoop will most likely go through after Gox decides to end the GoxLoop.

ITT: Theories, speculations, as to motivations for GoxLoop.

My theories:

- Massive market sell triggered GoxLoop so Gox can sell elsewhere while the price is still high
- Gox lets the loop run for as long as it takes them to move BTC elsewhere (be it another exchange, or w/e) for their profit.

Legal complications?

Please also discuss whether or not this is legal, and if Gox operators could suffer legal consequences, even though this market is unregulated. Would it be legal in the EU/US to do this?

Topic: GoxLoop™ discussion / speculation - page 4. (Read 7220 times)