How will this mtgox screw-up affect the price?

zvs

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Quote from: cloon on July 21, 2012, 05:27:01 AM

Quote from: Blind on July 21, 2012, 05:24:19 AM

Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad

yes rally trigger screwed up by MtGox Angry

and i think he'll be angry too

yeah, i'd be pissed

ed:

if the thinking was that maybe it'd spark it higher, that was lost by mtgox going down for 7 hrs and people either getting ready to or already placing sell orders in the range that the guy bought into. i'd ask for an 8.8 * number of bitcoin refund

or maybe it's just someone that just *really* wanted some goddamn bitcoins (see www.youtube.com/watch?v=tpG8Z-k2koE) in which case they'll be back for more anyway

Jointops420

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There was 1.8mill on the orders books earlier today and after that big buy there still is 1.8 mill, this is sure going to be an interesting time ahead.
Good luck to everyone, as much as I want to see BTC succeed for the benefit of humanity I do for my own reasons of financial security.

Technomage

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Thinking the price would go down thanks to this is hilarious. Gox had a technical glitch before and it didn't cause any sell offs. This is fairly similar, although this was in the middle of huge buying and an epic rally. So now that there is technical glitch because someone is making one of the biggest buys all time, price will go down? LOL. This is more bullish than anything, Gox can't handle the buying pressure.

aq

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Quote from: Jointops420 on July 21, 2012, 05:29:08 AM

Quote from: Blind on July 21, 2012, 05:24:19 AM

Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad

The dumper of the last few days hit the wrong button yeeeehaaa love it.

More the other way around:
Only on MtGox you can buy 70kBTC without affecting the price

BadBear

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I'd be pissed if I was him.

Jointops420

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Quote from: Blind on July 21, 2012, 05:24:19 AM

Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad

The dumper of the last few days hit the wrong button yeeeehaaa love it.

cloon

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Quote from: Blind on July 21, 2012, 05:24:19 AM

Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad

yes rally trigger screwed up by MtGox Angry

and i think he'll be angry too

Blind

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Looks like someone tried to put up scary wall and fat fingered the price, lol. I don't know, but buying 40k in one go is not very smart, maybe it's just rally trigger attempt gone bad

John (John K.)

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Away on an extended break

Everything's back! Gentlemen, start your...BOTS! Wink

cloon

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yeah looks like a new high at 9.72 Grin

Jointops420

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Its back and the 400k order went through.

cloon

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Quote from: molecular on July 21, 2012, 04:33:13 AM

Quote from: kentrolla on July 21, 2012, 01:57:26 AM

someone plz answer this question: what happened to the price after this happened the first time??

this hasn't happened before in this way.

not in this way but some similar things have happend already... but it never had a great influence on the price if there was nothing stolen. (and i think this time its just an intern mtgox fail)
so i do not expect a selloff, if this big buy up to 9.30 was real i see potential to the upside, if not we build a triangle and breakout will show the next direction

ps: something happend on btccharts

molecular

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Quote from: kentrolla on July 21, 2012, 01:57:26 AM

someone plz answer this question: what happened to the price after this happened the first time??

this hasn't happened before in this way.

molecular

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Quote from: Bitcoin Oz on July 21, 2012, 01:35:21 AM

Wow someone opened their warchest didnt they.

pirate squeeze?

molecular

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Quote from: kentrolla on July 21, 2012, 01:02:28 AM

any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

you can still submit orders

kentrolla

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idk, thats all the info they gave me. at least they are working on fixing it

zvs

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Quote from: kentrolla on July 21, 2012, 03:28:20 AM

Gene, Jul 21 17:06 (JST):

Hello Ken,

We sincerely regret for the inconvenience. Our developer team is engaged on this task and they are working on the site to have this rectified as soon as possible. We will have you updated on this shortly .

Thanks,

MtGox.com Team

YAY! they know about it and are working on it

are they going to finish the 100k bitcoin market purchase ?

Yuhfhrh

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Well I can't keep my eyes open anymore Sad

Goodnight everyone and pleasant bitcoin dreams!

kentrolla

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Gene, Jul 21 17:06 (JST):

Hello Ken,

We sincerely regret for the inconvenience. Our developer team is engaged on this task and they are working on the site to have this rectified as soon as possible. We will have you updated on this shortly .

Thanks,

MtGox.com Team

YAY! they know about it and are working on it

Yuhfhrh

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Quote from: Bitcoin Oz on July 21, 2012, 02:55:56 AM

Quote from: Yuhfhrh on July 21, 2012, 02:53:05 AM

Quote from: kentrolla on July 21, 2012, 02:49:39 AM

Quote from: smoothie on July 21, 2012, 02:42:39 AM

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed [email protected].

tyvm. I WANT TO TRADE! GRRR!

3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol

Everyone refreshing it constantly isnt going to help

Touche, but I can't help myself. I have a problem.

Bitcoin Oz

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Wat

Quote from: Yuhfhrh on July 21, 2012, 02:53:05 AM

Quote from: kentrolla on July 21, 2012, 02:49:39 AM

Quote from: smoothie on July 21, 2012, 02:42:39 AM

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed [email protected].

tyvm. I WANT TO TRADE! GRRR!

3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol

Everyone refreshing it constantly isnt going to help

Yuhfhrh

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Quote from: kentrolla on July 21, 2012, 02:49:39 AM

Quote from: smoothie on July 21, 2012, 02:42:39 AM

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed [email protected].

tyvm. I WANT TO TRADE! GRRR!

3 AM... Can't sleep... Must keep refreshing everything! MT Gox fix this so I can go to bed lol

mc_lovin

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I was wondering what was going on... I was selling a few coins at $9.25 and I got excited when I saw clarkmoody at $9.30... It was like puuuurfect timing, I check gox and it didn't go through... I thought I was trippin'...

Quote from: zvs on July 21, 2012, 02:42:35 AM

Quote from: kentrolla on July 21, 2012, 01:57:26 AM

someone plz answer this question: what happened to the price after this happened the first time??

price went up for a few days

then it dropped down to $2

If the price drops to $2 again, I'd be in heaven! I was asleep at the wheel when that went down.

kentrolla

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Quote from: smoothie on July 21, 2012, 02:42:39 AM

I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed [email protected].

tyvm. I WANT TO TRADE! GRRR!

kentrolla

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Quote from: copumpkin on July 21, 2012, 02:44:50 AM

Quote from: kentrolla on July 21, 2012, 12:26:04 AM

I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad

any thoughts?

Not to be an asshole, but can you change the subject to say "affect" instead of "effect"? Tongue

ty for pointing that out. I'm also a stickler about stuff like that. I can't believe i screwed that one up :p

copumpkin

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Quote from: kentrolla on July 21, 2012, 12:26:04 AM

I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad

any thoughts?

Not to be an asshole, but can you change the subject to say "affect" instead of "effect"? Tongue

smoothie

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I just sent mark an email on three of his different email addresses.

Hopefully he gets at least one of them. Also emailed [email protected].

zvs

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Quote from: kentrolla on July 21, 2012, 01:57:26 AM

someone plz answer this question: what happened to the price after this happened the first time??

price went up for a few days

then it dropped down to $2

myrkul

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FIAT LIBERTAS RVAT CAELVM

Quote from: Jointops420 on July 21, 2012, 02:35:26 AM

Other than that I have no problems with your service everything else has worked good for me.

Other than that, Mrs. Lincoln, how was the play?

Jointops420

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Dear MtGox,
Any chance of letting your customers know what's going on in a timely manner? You know, customers the people who have millions tied up with you and are the very reason that you are making money.
Also can you do something about that atrocious Mtgox live site and have something that is really in real time and doesn't freeze up when there's more than one trade going on at the time.
Thanks
Other than that I have no problems with your service everything else has worked good for me.

kentrolla

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Quote from: smoothie on July 21, 2012, 02:24:45 AM

right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence.

well, it is the weekend. So he's not receiving any support e-mails, and will probably be unaware of this issue until he checks his e-mail on monday unless someone calls him. I don't have his phone number or else i would. I know someone on this forum has his phone number. Plz tell him whats going on.

smoothie

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right now its the middle of the day in Japan. They should be working on this. But I would also expect to see some sort of public announcement saying whats going on and when trading will commence.

kentrolla

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someone call magicaltux plz. i want to go to sleeep

bb113

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A similar thing happens every weekend. Gox is run 80% manually or something.

Also bitcoin is just a big experiment to test what would have happened if the fed acted different during the past decade that is getting out of control right now.

Yuhfhrh

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Quote from: kentrolla on July 21, 2012, 01:57:26 AM

someone plz answer this question: what happened to the price after this happened the first time??

Well last month after the outage, trading went on as usual (it had no effect.) But this is a different kind of outage...

kentrolla

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someone plz answer this question: what happened to the price after this happened the first time??

zhalox

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XMR = BTC in 2010. Rise chikun.

Who knows, maybe bitcoin will spike to $15 or $20 next week lol Grin

smoothie

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Quote from: Serge on July 21, 2012, 01:35:39 AM

later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand. Cool

market will be volatile once trading resumes

Pirate: Hey Mark, do you think you could halt all trading so I can buy all the bitcoins?

Mark: Sure no problem, just do me one favor in return, since you will have all the bitcoins I would like to collect a 7% interest rate on top of all bitcoins you will have.

Pirate: But there are no more bitcoins.....

Mark: Too bad, sucks to be you.

Grin

Serge

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later in headlines: After huge outage of major bitcoin exchange, bitcoin rate seems surprisingly stable and on track with rallying without a diminished demand. Cool

Bitcoin Oz

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Wat

Wow someone opened their warchest didnt they.

copumpkin

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I'm actually a pineapple

I thought this was the usual mtgox tripwire that freezes the trading engine when big orders hit it, but it turns out the trade engine is actually in a loop, relaying the same big transaction over and over again with new timestamps and new transaction IDs (if you run your own socket.io client, you can see this). The thing climbs from 8.79 to 9.30 (~30k btc) and then snaps back to 8.79 and does it again, over and over again.

A bit disturbing, as always.

kentrolla

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what happened to the price last time this happened?

humanitee

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Am I reading that volume of 500k correctly? Shocked

zhalox

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I think the reason Mt. Gox froze was because of huge buy orders for hundreds of thousands of dollars worth of bitcoins, and not because of sell orders - the price spiked up to $9.30+ as seen below:

Hexadecibel

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I remember the last time something like this happened someone had to call his phone and wake him up.

In fact I think I emailed them about that...

ooo here it is

Quote

Hello,

At approximately 23:00JST on June 23, 2012, trading became unavailable due to an invalid trade order which was not checked correctly by the Add Order API. The trading system however, detected this and halted itself to wait for further instructions, resulting in this outage.

Trading is now back to normal. We apologize for the inconvenience our users have suffered because of this outage and would like to thank you for your patience through this issue. If you have any further questions regarding this matter, please do not hesitate to contact us.

Serge

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Quote from: Bjork on July 21, 2012, 01:04:42 AM

Quote from: kentrolla on July 21, 2012, 01:02:28 AM

any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

put in a sell at market? i guess. My guess is Gox will be down for 5+hours at least... maybe 24+

That is if Tux is not in Poland right now and only him being able to access and fix live site from his Japan office

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Quote from: kentrolla on July 21, 2012, 01:02:28 AM

any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

put in a sell at market? i guess. My guess is Gox will be down for 5+hours at least... maybe 24+

Serge

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Quote from: David M on July 21, 2012, 01:01:55 AM

Quote from: Serge on July 21, 2012, 12:58:46 AM

while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

This should be directed at the OP. Perhaps my sarcasm was too subtle...

my comment directed to whomever may decide to start panicking

kentrolla

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any guesses on how long this will take to fix? i don't want to go to sleep before i sell my coins

David M

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Quote from: Serge on July 21, 2012, 12:58:46 AM

while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

This should be directed at the OP. Perhaps my sarcasm was too subtle...

Serge

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Quote from: David M on July 21, 2012, 12:50:18 AM

Unregulated exchange trading unregulated crytotokens operating a true 24 hour international market suffers computer glitch.

You may commence to panic at any time...

while you're at it, check out some other cool glitches on wall street, costing investors billions, regulated, with nights and weekends off two exchanges:

https://www.google.com/search?hl=en&q=ny+stock+exchange+glitch

https://www.google.com/search?hl=en&q=dow+jones+glitch

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Quote from: SgtSpike on July 21, 2012, 12:53:14 AM

Quote from: Yuhfhrh on July 21, 2012, 12:50:49 AM

Quote from: Hexadecibel on July 21, 2012, 12:47:36 AM

What mt. gox screw-up?...

Open clarkmoody lol

I don't understand... I don't see anything odd at clarkmoody.

SgtSpike

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Quote from: Yuhfhrh on July 21, 2012, 12:50:49 AM

Quote from: Hexadecibel on July 21, 2012, 12:47:36 AM

What mt. gox screw-up?...

Open clarkmoody lol

I don't understand... I don't see anything odd at clarkmoody.

Serge

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Quote from: smoothie on July 21, 2012, 12:42:54 AM

Quote from: Serge on July 21, 2012, 12:34:28 AM

it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading

but to some of us time is money....delay = -money

what can you do?

Yuhfhrh

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Quote from: Hexadecibel on July 21, 2012, 12:47:36 AM

What mt. gox screw-up?...

Open clarkmoody lol

David M

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Unregulated exchange trading unregulated crytotokens operating a true 24 hour international market suffers computer glitch.

You may commence to panic at any time...

Hexadecibel

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What mt. gox screw-up?...

smoothie

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Quote from: Serge on July 21, 2012, 12:34:28 AM

it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading

but to some of us time is money....delay = -money

Serge

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it is not like someone will get hurt or suffer from it. it is just a technical glitch which happened before, it only happens on rare circumstance which was explained before. no big deal, just a delay in trading

FreeMoney

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Strength in numbers

Quote from: kentrolla on July 21, 2012, 12:26:04 AM

I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad

any thoughts?

Maybe it's weaklings driving this rally, but I'd think most of the big players know that this kind of crap happens with websites and that's why bitcoin is awesome. Maybe it will remind a big player that the big exchange can be overthrown pretty easily. Hopefully all the other exchanges get a little extra action out of this too.

kentrolla

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I think it will make some big investors lose faith in bitcoin and there will be a massive dump as soon as they come online. I really don't want to stay up all night to wait for them to come online so i can sell all my coins Sad

any thoughts?

Topic: How will this mtgox screw-up affect the price? (Read 4816 times)