Topic: Is HUOBI about to blow up in our face? (Read 3378 times)

Why can't you check it by yourself? Try it through a proxy outside your internet area (means europe based proxy if you are in the usa)
and check their api is online on bitcoinwisdom.

It seems they updated their frontend.
Get real guys, this kind of FUD is stupid and it will effect your own rational behaviour when it comes to trading.
Everytime you trap yourself in such nonsense you will lose money with your next trades - nothing will make you lose
more money as fear.

Even google and facebook had their downtime, 100% uptime is a myth and a sign you did not understood the the technology itself.
There is no way to proof a system or program is bug free - that it *is* impossible to determinate is the first and fundamental law
of the whole computer science and every information related science too.

That is btw the point you should consider to move your home when someone tells you that the computer system controlling the nuclear power plant next to
you is "100% safe and tested".

They were down for one night. It happens. Relax...

You'd think with a big exchange like that would be fully prepared for DDOS attacks, but instead this is the second time within the last months or so. Personally, I wouldn't trust to leave my money there and you wouldn't even know where it's gone!!

I reckon they meant to type 100 but got excited and hit enter two keys early (or by mistake).  LTC was trading at 100 CNY ish.

Why?
What have they done to you?

Well, my problem with the other versions as panic is that the point of that selling was very, very poor. The price was just starting to jump, then the news kicked in and he sold.
And it was not much! Look at the huobi ltc charts on 5m. We talk here about one big order but with under 60k coins. Sounds much but for ltc is not that awful much. Check bitcoinwisdom - it was a big but not unusual big volume at that time. Pretty normal for crash times. There are some persons on btc-e playing around with buy/sells of some 10k.

That 60k order hit the market AFTER that news, where already the first sell out wave had hit and people was removing buy order.
That and the fact huobi is/was still new in ltc was the reason for a light order book. Means there was not that much buy orders.
That light book was hit by the 60k sellout telling the API "sell for any price"... So he buyed out every damn order set IN THAT MOMENT.
Seconds after that, the bots and people set new buy orders in or they was just typing that orders and even not noticed it. That is
the instant rebounce. And of course people who buyed ltc for like 5 yuan because they had set some "lucky punch" orders was waiting
and selling then on the rebounce top. That was for sure the easiest money ever.

So, it looked spectacular and is for sure an event you will not have very often but its not that unusual.
We had the "102" guy on btc-e who buyed out too nearly the whole order book. There everyone assumed fat finger aka a typo.
There is also the "75" guy - he sold in the small crash in october as btc was 120+ a mass of coins for low.
Only weeks after it btc hit the $1000... bad luck.

@sinx13
Ok, I agree that does make sense indeed. But I have a hard time buying this whale version. I just cannot imagine someone panic-selling that crazy in a blink of an eye. Plus the version I read on some Chinese blog was a bit different involving high profile fraud using LTC derivatives. But maybe I am just mistaken, since I cannot tell how accurate Google Translate is working. One or the other way, nothing positive about something like this going down on a major exchange. I guess we can agree on that

Last but not least, you are right that some of my BTC were held hostage on Gox, but eventually I got out 1 or 2 weeks before they went down the drain. So, I am not sour because I lost some coins. Actually, I claim my opinion to be pretty objective and properly analyzed.

Sounds like panic in the air.
The frontend issue might have been legit downtime.

Sorry, but thats just strange FUD... I was online as the 1 yuan bit was dropped watching the charts... It was a minute after the fake news was thrown. BTC-e was just rising again over 17 as it got hit, dropped fast as hell to 15. The huobi guy paniced and sold his whaloe block of 60k -100k . For that, he had to "buy" the whole buy orders out, which he did with the $1 yuan order.

But the block DID NOT got sold for 1 yuan, the majority of the coins was sold for normal prices, he only set the 1 yuan to get also the lower orders too because he thought it will go really bad down. What had happens when the fake news had become true. It was just the emergency sell of a paniced whale, and he lost for sure alot but not that much as people think because alot coins was sold for market price or a bit under - you know, the exchanges are trying to get the best deal automatically, you can't sell out of the market price of existing order. The benefit of a "high bit" is that you got served before a lower - even when someone sells all for 1.

I saw your bad experience with gox but you should clear your mind. Since gox there was already alot money to make, mainly with ltc - increased my asset by 35% and i was playing very safe..  When btc find its bottom - and there is a bottom, then it will rise again. Its normal, 2012 and 2013 was full of this kind of events and some "bad news" was even more worse in that time including a "lost all coins" from gox.

The big volume is absolut no secret - huobi has no fees as the china exchanges had before. As btcchina & okcoin added fees as answer to the china authorities
(mainly to make clear that they don't "lure" people to trade) huobi played it harder and did not added fees. That was the time as btcchina had problems with
adding money to their exchange too.That worked, the authorities did not focused on fees and alot people, mainly from btcchina moved to huobi.

The problem is that to much people think that volume means unique coins. That was never true, even not on the "normal" exchanges.

Well, Huobi is kinda special actually. First, it has the biggest volume atm, which some claim to be fake. Moreover, there is the LTC drop to 1CNY and now they are getting heavily ddosed. I dunno, but all of that together seems pretty toxic to me.

Thats true for all exchanges but there is nothing special about Huobi. The other chinese exchanges are weaker.

Hehe. Those events that are about to happen have nothing to do with the meaningless crypto circus. You really don't need any vision to come to the only possible conclusion that Huobi will be gone sooner or later. It's just a matter of time.

Thats called a trading API and it means that only the website frontend was not avaible on your part of the internet but the "site" itself was online.

Honestly, you should work on your vision power.

From your other thread..

"t was last year at around the same day, when enlightenment literally hit me. I have seen the future. To be more precise, the whole history of mankind was shown to me. While it was like having visions back then (very clear once though), I also gathered valuable insights connected to what I saw. By now, it is becoming obvious to those who know that certain events are about to unfold. "

So... you very clear vision was all about sh*t ?

Yes, Huobi is back up. But I would quickly withdraw all coins. The sh**storm is coming. That is more than just likely after latest events.

When I've registered at Huobi to trade some LTC, but I've found no LTC exchange. Maybe I just missed it. Anyone got opposite result?
And Huobi is online atm.

Gox - sucks since its start with hacks, lost bitcoins, limited bank accounts and no one cared.
Huobi - down for some time at a weekend and people fear a sh*storm.

And some of you wonder why they lost money & coins.

Its posible sold some gox coins y Huobi 

Huobi some exchange site?

I wonder how there can be trading activity while the website is still down? Magic?  

Die Huobi! 

By now, I am afraid a real sh**storm is coming. Huobi still not up, no statement. Just imagine...

Happy Dumping 

I realized that HUOBI has been down more or less the whole night (CET). Just now, they finally did post a short statement saying something about an DDOS attack. I wouldn't be surprised if this would mark the next big thing on our way down. Especially, after latest LTC manipulation, I am convinced that there is something very wrong with the Chinese exchange.

Any further thoughts on that?