Topic: So this just happened in Huobi. (Read 2444 times)
Looks like Chinese Willy has behavioural difficulties.
The flash crash in stocks did come before they fell anyway but never actually went as far down as many recorded in error. So its basically erroneous I think. If you want details of a real spike, look at the takeover of VW by Porsche
People will try to dismiss it as a glitch, but it looks hooky as fuck to me.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
For every person that got burned, another person made out - two sides to every trade.
You, of all people, should know the laws of the jungle by now!
So it's a "bungle in the jungle?"
Something had to cause the glitch, I wonder what actually happened with their software?
or... Was it a real spike and a preview of next months Rally?
Did huobi contact bitcoinwisdom to erase it? bitcoinity still has it. jejeje
Weird stuff... They erased it really fast from Bitcoinwisdom.
I remember checking Huobi's website and they didn't have it as a day highest either.
Yes it seems like they erased it quicly, i wonder what will happen in the other charts.
LOL if huobi spiked there and we found ourselves right back at this current price level, i think that would appear pretty damn bearish, don't you? 
It sounds like Huobi sending bad data over the socket. Probably something dumb like a formatting error. But if two sites show(ed) it, then the first place I suspect is Huobi API.
There is no way that would've been real with such low volume. Com'on, guys!
There is no way that would've been real with such low volume. Com'on, guys!
this was just an API error, correct? looking at bitcoin wisdom and trading view, it doesn't even appear to have ever happened. so i'm assuming it was just a glitch of some sort.
Did huobi contact bitcoinwisdom to erase it? bitcoinity still has it. jejeje
Weird stuff... They erased it really fast from Bitcoinwisdom.
I remember checking Huobi's website and they didn't have it as a day highest either.
Uhhh, What the hell?
Did huobi contact bitcoinwisdom to erase it? bitcoinity still has it. jejeje
I guess it was just one single small trade.
Since one small trade can't clear the orderbook, it must have been a bug in reporting, where an erroneous trade at 10000 was entered - either via bug or injected etc etc. Happens even on wall street, no surprise that it can happen on young exchanges.
I think it was a glitch. It isn't there anymore...
For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.
I agree you don't see a price chart like that in regular trading unless someone made some sort of giant order got hacked or a glitch occurs in the system itself anyways unusual stuff.
what about snowballing short squeeze?
For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.
I agree you don't see a price chart like that in regular trading unless someone made some sort of giant order got hacked or a glitch occurs in the system itself anyways unusual stuff.
589btc... hehe! That's the real amount of btc you'd find on huobi 
I read a number of Chinese forums and no one is crying for this incident. So I believe it's only a glitch
People will try to dismiss it as a glitch, but it looks hooky as fuck to me.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
People will try to dismiss it as a glitch, but it looks hooky as fuck to me.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
For every person that got burned, another person made out - two sides to every trade.
You, of all people, should know the laws of the jungle by now!
For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.
it would show up in volume, but of course it doesn't, so yes it's not a buy. People will try to dismiss it as a glitch, but it looks hooky as fuck to me.
When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
Birfinex refunded the lost funds. When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.
When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.
Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.
For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.
Or their auto-volume bot glitched and missed out the order book component of the program and shot right up to the max limit set?
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