Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33446.

old_engineer

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Quote from: fitty on May 21, 2013, 07:32:07 PM

Yup. I've done a fair bit of work with databases, there's no reason on earth a company that makes millions has a trading engine that lags that hard. Someone on reddit claims they calculated MtGox can handle 40 trades a second. 40?! Even 400 would be surprisingly low.

Agreed, they're slower by orders of magnitude than they should be. A friend of mine works for a company that designs & programs custom hardware used by these high speed traders. Order are processed in 1-10 microseconds, not tens of milliseconds. The kicker is that they're been slow for years, which is inexcusable. And they never bothered to rebrand to something bitcoin specific instead of Magic The Gather Online eXchange.

By comparison, this is what 10 milliseconds of stock trading of Merck looks like between various worldwide exchanges (London, NYSE, etc):
https://www.youtube.com/watch?feature=player_embedded&v=rB5jJuMP84E

I'm taking advantage of the lull in activity to cash out of Gox, and after their wire arrives, I'll send a wire to bitstamp. I hope the exchange spread lasts until funds arrive.

BitcoinAshley

sr. member

Activity: 448

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Quote from: fitty on May 21, 2013, 07:39:44 PM

Quote from: notme on May 21, 2013, 07:35:09 PM

Cool. When is your exchange launching?

Oh right, unless you run an existing exchange, you can't possibility comment on how MtGox is run. Maybe those 7 people on the planet can chime in.

Are you 6 years old (and/or retarded)?

Fitty that cracked me up, thanks for the perfect response to the most retarded comeback to Gox criticism that is thrown around these parts Grin

fitty

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Quote from: notme on May 21, 2013, 07:35:09 PM

Cool. When is your exchange launching?

Oh right, unless you run an existing exchange, you can't possibility comment on how MtGox is run. Maybe those 7 people on the planet can chime in.

Are you 6 years old (and/or retarded)?

notme

legendary

Activity: 1904

Merit: 1002

Quote from: fitty on May 21, 2013, 07:32:07 PM

Quote from: smoothie on May 21, 2013, 06:37:12 PM

You know what is messed up is that a 100k BTC buy order should be pretty much instant. What follows it is the part that may cause lag but I always find it odd that when the market moves really quickly in either direction gox lags like fuck. It is embarassing.

Yup. I've done a fair bit of work with databases, there's no reason on earth a company that makes millions has a trading engine that lags that hard. Someone on reddit claims they calculated MtGox can handle 40 trades a second. 40?! Even 400 would be surprisingly low. Either they're stubborn and refuse to hire outside help. Or they don't want outside help because they are insider trading the fuck out of market orders. The more trades that queue up (during lag) the more they can make. Large market order? Hang on, lets buy up some limit orders from the front, re-sell them at the back of the market order and we never lose.

Mark Karpeles has stated they want to go legit in the US and it will cost 25M. Wait, 25M? You've maybe made 4-5M? You have 18 employees? Where's the other 20M+ coming from? He's either going to use our fiat or MtGox has been insider trading the fuck out of the exchange.

The only reason I can see them sticking with such a poorly designed/running trading engine, is because they don't want anyone seeing how it works. Combine that with the lofty goals they have and no way they could pay for them unless they've been ripping us off for years.

The whole site is shady, the CEO is shady, the sooner they're dead and gone the better.

Cool. When is your exchange launching?

fitty

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Quote from: smoothie on May 21, 2013, 06:37:12 PM

You know what is messed up is that a 100k BTC buy order should be pretty much instant. What follows it is the part that may cause lag but I always find it odd that when the market moves really quickly in either direction gox lags like fuck. It is embarassing.

Yup. I've done a fair bit of work with databases, there's no reason on earth a company that makes millions has a trading engine that lags that hard. Someone on reddit claims they calculated MtGox can handle 40 trades a second. 40?! Even 400 would be surprisingly low. Either they're stubborn and refuse to hire outside help. Or they don't want outside help because they are insider trading the fuck out of market orders. The more trades that queue up (during lag) the more they can make. Large market order? Hang on, lets buy up some limit orders from the front, re-sell them at the back of the market order and we never lose.

Mark Karpeles has stated they want to go legit in the US and it will cost 25M. Wait, 25M? You've maybe made 4-5M? You have 18 employees? Where's the other 20M+ coming from? He's either going to use our fiat or MtGox has been insider trading the fuck out of the exchange.

The only reason I can see them sticking with such a poorly designed/running trading engine, is because they don't want anyone seeing how it works. Combine that with the lofty goals they have and no way they could pay for them unless they've been ripping us off for years.

The whole site is shady, the CEO is shady, the sooner they're dead and gone the better.

Abandon

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hmmmstrange

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13.5k volume for today, you have to go back to Jan 5th to find a lower volume.

edit today is May 21 utc

dexX7

legendary

Activity: 1106

Merit: 1026

Wow, in terms of BTC volume ASICMINER-PT shares on btct.co surpassed Bitstamp and BTC-E on a daily basis.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: Frozenlock on May 21, 2013, 03:19:25 PM

Quote from: samson on May 21, 2013, 03:06:17 PM

I believe they call this stage 'denial'

A friendly reminder from a 2011 survivor.

OMFG I LOLed. Thanks for that "weeeeeeeeeeee!" Tongue

massivebitman

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Activity: 224

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Quote from: 01BTC10 on May 21, 2013, 05:56:55 PM

123.04K BTC can be bought for 24.25M until price goes above $1219

Even if somebody did buy it, it would never stay above 1000.

More supply would quickly become available at a much lower price.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: fitty on May 21, 2013, 05:34:53 PM

Quote from: Frozenlock on May 21, 2013, 05:06:33 PM

A candy for the bulls:

Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over. Grin

You know what is messed up is that a 100k BTC buy order should be pretty much instant. What follows it is the part that may cause lag but I always find it odd that when the market moves really quickly in either direction gox lags like fuck. It is embarassing.

Loozik

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Activity: 378

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Born to chew bubble gum and kick ass

Coinseeker

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Quote from: Aseras on May 21, 2013, 06:10:20 PM

That's just it, if one whale pulls out, crash. One comes in rally. There's no depth.

samson

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Quote from: old_engineer on May 21, 2013, 05:25:11 PM

I just don't see the price dropping below $100 ever again.

rpietila also said his recently. I think it went to the $90's the very next day.

It recovered quickly only to stagnate and leave us where we are right now.

MickeyT2008

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Activity: 350

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This account was recently hacked

Quote from: 01BTC10 on May 21, 2013, 05:56:55 PM

123.04K BTC can be bought for 24.25M until price goes above $1219

Hang on, I'm sure I've got a spare $24,250,000 around here somewhere.....

Aseras

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Activity: 658

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Quote from: old_engineer on May 21, 2013, 05:25:11 PM

Quote from: Abandon on May 21, 2013, 04:13:07 PM

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again. Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses. If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then. And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June. The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it.

That's just it, if one whale pulls out, crash. One comes in rally. There's no depth.

01BTC10

vip

Activity: 756

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123.04K BTC can be bought for 24.25M until price goes above $1219

Miz4r

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Quote from: Frozenlock on May 21, 2013, 05:06:33 PM

A candy for the bulls:

That looks like a mirror image of the orderbook on Bitstamp, only the numbers are bigger. Tongue

fitty

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Quote from: Frozenlock on May 21, 2013, 05:06:33 PM

A candy for the bulls:

Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over. Grin

old_engineer

sr. member

Activity: 387

Merit: 250

Quote from: Abandon on May 21, 2013, 04:13:07 PM

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again. Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses. If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then. And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June. The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it.

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