Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33516.

Hawker

legendary

Activity: 1218

Merit: 1001

Quote from: samurai1200 on May 15, 2013, 03:08:47 PM

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)

Bitcoin is designed to cope with being illegal. There is a reason Satoshi never revealed his name. Even if MtGox is killed, we will always have ways to get money in and out of fiat.

samurai1200

sr. member

Activity: 303

Merit: 250

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Quote from: Pale Phoenix on May 15, 2013, 03:03:46 PM

I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.

IP address of mtgox.com is 72.52.5.67.

Info from http://whois.domaintools.com/72.52.5.67

AS32787 PROLEXIC-TECHNOLOGIES-DDOS-MITIGATION-NETWORK - Prolexic Technologies, Inc. (registered Jul 23, 2004)

Pzi4nk

member

Activity: 70

Merit: 10

Move over clarinets, I'm getting on the band wagon

Quote from: MAbtc on May 15, 2013, 12:47:08 PM

Quote from: dexX7 on May 15, 2013, 11:44:52 AM

After reading the seizure warrent, I'd say: not a huge deal. They target US based money supply. Even the seized banking account at Wells Fargo was only filled with Dwolla cash, which was sent to Japan. It seems Dwolla was the only critical part. As (hopefully) the other funding options (i.e. wire transfer) aren't linked to US accounts, it should be fine.

Lesson learned today: if you want to do business in the US, you have to do proper US paperwork. And tbh this isn't something unexpected.

Any accounts that wire money to Americans are at risk. Generally, it goes offshore bank --> intermediary (US) bank --> customer bank. That's why we get MT Gox wires from Chase NY, etc. Lots of online gambling money gets nabbed by the feds this way. In reality, they can seize offshore accounts where they have existing bank treaties, when there is "cause".

IMO, don't assume this is the end of this. Some thoughts on the subject: https://bitcointalksearch.org/topic/m.2114965

Trying to remain positive here, though.

I think what we need is a simple money transfer service (similar to PayPal or Dwolla) that cannot be reversed. Then any individual could easily convert USD/BTC and vice versa.

Any such individual transactions wouldn't need government permission to operate.

dexX7

legendary

Activity: 1106

Merit: 1026

Quote from: crumbcake on May 15, 2013, 02:58:24 PM

Quote from: Hawker on May 15, 2013, 02:56:54 PM

Quote from: crumbcake on May 15, 2013, 02:55:21 PM

Quote from: Frozenlock on May 15, 2013, 02:53:32 PM

Quote from: UltimateReaper on May 15, 2013, 02:52:52 PM

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down? Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.

Thanks! Do they have a range of IPs to ease ddosing?

BTC-E: yesterday they were sub 100. Big price diffference.

wonkytonky

sr. member

Activity: 411

Merit: 250

Quote from: EuroTrash on May 15, 2013, 02:36:10 PM

BitStamp dump time again...

we can buy the price back up again with a very small buy.. it's not dumping.. it's a few bitcions beeing traded.

Pale Phoenix

sr. member

Activity: 420

Merit: 250

Quote from: crumbcake on May 15, 2013, 02:58:24 PM

Thanks! Do they have a range of IPs to ease ddosing?

I believe they use Cloudflare and Prolexic to handle DDOS. I'm not sure how that applies to their trading engine though... it seems like they get flooded with huge numbers of .01 ask/bid adds and removes, and then the lag starts.

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: Hawker on May 15, 2013, 02:56:54 PM

Quote from: crumbcake on May 15, 2013, 02:55:21 PM

Quote from: Frozenlock on May 15, 2013, 02:53:32 PM

Quote from: UltimateReaper on May 15, 2013, 02:52:52 PM

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down? Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.

Thanks! Do they have a range of IPs to ease ddosing?

Hawker

legendary

Activity: 1218

Merit: 1001

Quote from: crumbcake on May 15, 2013, 02:55:21 PM

Quote from: Frozenlock on May 15, 2013, 02:53:32 PM

Quote from: UltimateReaper on May 15, 2013, 02:52:52 PM

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down? Is there another way to trade through Gox? Huh

Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good.

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: Frozenlock on May 15, 2013, 02:53:32 PM

Quote from: UltimateReaper on May 15, 2013, 02:52:52 PM

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down? Is there another way to trade through Gox? Huh

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: UltimateReaper on May 15, 2013, 02:52:52 PM

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

UltimateReaper

newbie

Activity: 56

Merit: 0

Quote from: fr33d0miz3r on May 15, 2013, 02:50:57 PM

Bitcoin is 101 at BTC-E right now

the end is neigh

Bitstamp is at 108

I seriously wonder how this is going to end up.

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: fr33d0miz3r on May 15, 2013, 02:50:57 PM

Bitcoin is 101 at BTC-E right now

and i thought it was http://s20.postimg.org/a7drik2t9/image.jpg

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Bitcoin is $101 at BTC-E right now

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: UltimateReaper on May 15, 2013, 02:47:33 PM

And to be honest, I kind of like this "unregulated" market.

Me too

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: Pzi4nk on May 15, 2013, 02:43:44 PM

Quote from: Pale Phoenix on May 15, 2013, 02:31:09 PM

Quote from: crumbcake on May 15, 2013, 02:05:27 PM

I should probably post this in the tech/dev section, but since MtGox is down, here's my proposal for a true P2P Bitcoin network independent of DARPA-tainted interwebz:

Where's the sauna vault? Tongue

+1

I can't see much difference between telemaco's and reptilian logic. Who would'a thunked the sauna was not secure?

UltimateReaper

newbie

Activity: 56

Merit: 0

Quote from: crumbcake on May 15, 2013, 02:46:04 PM

Quote from: UltimateReaper on May 15, 2013, 02:34:51 PM

Quote from: crumbcake on May 15, 2013, 02:31:16 PM

Quote from: telemaco on May 15, 2013, 02:21:43 PM

Quote from: crumbcake on May 15, 2013, 02:16:17 PM

Quote from: telemaco on May 15, 2013, 01:59:23 PM

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Please. You're on *speculation forum* bitching about an overseas currency exchange. You are not a saver. You're a speculator -- chin up, bud!

I am not a saver, but i wouldn't say that there are not any saver around using mtgox and losing money with MtGox Lag or even at this very moment with their inhability to log into MtGox (or maybe yesterday night with ANOTHER outage).

Whoah. Savers are unaffected by lag -- only traders can get hurt. The money changers. Savers are fine (stupid to use Mt.Gox as a bank, but fine otherwise).

Quote

There are some services that need 24x7 SLAs and have to run 99,99% of the time. Mt Gox service compared with another IT company online-rate would compare to a potato chips third league online webpage. They are playing with people's money and they should start to be 24x7. They are hurting all the Bitcoin economy.

The only money Mt.Gox is playing with is that of ultra-high risk traders, who are willing to use Gox's services knowing full well how bad they are. Part of the game.

Quote

And to those saying (why don't you do it youself?): If my son needs to go to the hospital and they cut off the other leg, i cannot complain because the doctor would say (hey!! why didn't you learn medicine?)

If you took your son to a totally unregulated hospital, and your friends, family & everyone with nothing better to do told you how awful the hospital is, and that wrong legs of children are cut off dayly... What was the question again?

He actually has a right to be pissed. It's one thing to be screwed by the market itself, but how would you feel if you lost money in your bank account because your bank fucked up?

As for me, this sort of shit is inevitable. How old is BTC? How old is MtGox?

We are taking a journey through the new world, you can't expect less, hell, it should be worse.

EDIT: Though, I'm pretty pissed at America all the time so I don't blame MtGox for any American centric issues.

My point is lousy exchanges are a part of unregulated market (as it stands -- i'm not saying it's intrinsic to lack of regulation). A trader is responsible for taking all the risks into account.

You're right.

And to be honest, I kind of like this "unregulated" market.

crumbcake

newbie

Activity: 42

Merit: 0

Quote from: UltimateReaper on May 15, 2013, 02:34:51 PM

Quote from: crumbcake on May 15, 2013, 02:31:16 PM

Quote from: telemaco on May 15, 2013, 02:21:43 PM

Quote from: crumbcake on May 15, 2013, 02:16:17 PM

Quote from: telemaco on May 15, 2013, 01:59:23 PM

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Please. You're on *speculation forum* bitching about an overseas currency exchange. You are not a saver. You're a speculator -- chin up, bud!

I am not a saver, but i wouldn't say that there are not any saver around using mtgox and losing money with MtGox Lag or even at this very moment with their inhability to log into MtGox (or maybe yesterday night with ANOTHER outage).

Whoah. Savers are unaffected by lag -- only traders can get hurt. The money changers. Savers are fine (stupid to use Mt.Gox as a bank, but fine otherwise).

Quote

There are some services that need 24x7 SLAs and have to run 99,99% of the time. Mt Gox service compared with another IT company online-rate would compare to a potato chips third league online webpage. They are playing with people's money and they should start to be 24x7. They are hurting all the Bitcoin economy.

The only money Mt.Gox is playing with is that of ultra-high risk traders, who are willing to use Gox's services knowing full well how bad they are. Part of the game.

Quote

And to those saying (why don't you do it youself?): If my son needs to go to the hospital and they cut off the other leg, i cannot complain because the doctor would say (hey!! why didn't you learn medicine?)

If you took your son to a totally unregulated hospital, and your friends, family & everyone with nothing better to do told you how awful the hospital is, and that wrong legs of children are cut off dayly... What was the question again?

He actually has a right to be pissed. It's one thing to be screwed by the market itself, but how would you feel if you lost money in your bank account because your bank fucked up?

As for me, this sort of shit is inevitable. How old is BTC? How old is MtGox?

We are taking a journey through the new world, you can't expect less, hell, it should be worse.

EDIT: Though, I'm pretty pissed at America all the time so I don't blame MtGox for any American centric issues.

My point is lousy exchanges are a part of unregulated market (as it stands -- i'm not saying it's intrinsic to lack of regulation). A trader is responsible for taking all the risks into account.

Pzi4nk

member

Activity: 70

Merit: 10

Move over clarinets, I'm getting on the band wagon

Quote from: Pale Phoenix on May 15, 2013, 02:31:09 PM

Quote from: crumbcake on May 15, 2013, 02:05:27 PM

I should probably post this in the tech/dev section, but since MtGox is down, here's my proposal for a true P2P Bitcoin network independent of DARPA-tainted interwebz:

Where's the sauna vault? Tongue

+1

telemaco

sr. member

Activity: 371

Merit: 250

Quote from: TheKoziTwo on May 15, 2013, 02:34:03 PM

Quote from: telemaco on May 15, 2013, 02:29:33 PM

Quote from: TheKoziTwo on May 15, 2013, 02:21:42 PM

Quote

Any fool can criticize, condemn and complain - and most fools do.
- Benjamin Franklin

+1

wow those are beautiful words, you even have a picture ...

so customers cannot complain? I used to be system administrator for a very important telecom company and took care of many systems running critical services and when there were outages (there are always unexpected problems of course) everyone and his mother would do everything in heaven and hell to make sure that the same problem would not happen again.

I see outages here everywhere ... Some companies give a discount when there are outages, some others publish some kind words. Seriously i am really patient, and really understand many problems that might arise with administration but lately things are getting slightly out of control ...

Complain all you want, just don't come with bullshit such as "mark should go to jail".

You are right that was not necessary

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