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A government entity looking to destroy the market wouldn't necessarily care about getting a return. Even if they were, take a look at what happened yesterday w

by zalzane 14y ago

A government entity looking to destroy the market wouldn't necessarily care about getting a return. Even if they were, take a look at what happened yesterday when someone dumped 5k bitcoins onto mtgox. http://i.imgur.com/K8T4F0Y.png http://i.imgur.com/K8T4F0Y.png

reaclmbs 14y ago
He drew an analogy to wall street and called it a "rigged game". So, I'm curious to hear how he'd rig it.
blocktuw 14y ago
This is excellent. Any explanation to accompany the graph? How about a link to the source?
- cadetzero 14y ago
  Source, on the whole, is http://bitcoincharts.com/ http://bitcoincharts.com/ You can break down all the numbers yourself. You can also get a giant history table of all buy/sells with times from either bitcoinity or bitcoin charts, I forget which.
  - jlogsdon 14y ago
    http://bitcoinity.org/markets http://bitcoinity.org/markets is the place I watch. The table on the right is aggregated buys/sells, so if you see something like "200 for 90.00" it could be 20 people buying/selling 10 coins, not 1 doing 200.
waterlesscloud 14y ago
The mini-crash yesterday was interesting. The 5k dump itself only moved the price down a couple of dollars, but there was a mass movement of smaller transactions that followed it and caused the price to really drop. My personal (amateur) theory is that people were hovering over their "sell" buttons, looking to cash out as we approach the landmark $100 point. Once they thought someone with a lot of coins was bailing, they took that as a sign to head for the exit. I also think that MtGox's horrible lag factors into the dips. Their trading engine was running as much as 8 minutes behind during this event, which causes people to not be able to modify or place orders. Along with not being able to see actual "current" trading info, this causes a certain segment of the trading population to go into full panic mode. Placing market sell orders in an engine that's showing you ancient data during a crash seems suicidal, but for some reason people do it. I'd love to see Gox upgrade its engine. I honestly think it would make a notable difference in price stability. Even better, I'd like to see the market grow strong enough to support 3 or 4 primary trading sites. There are a number of others now, but the rest have such low volume that you should only use them to pursue specific opportunities (arbitrage).
- deleted 14y ago
  [deleted]

by zalzane 14y ago

reaclmbs 14y ago

He drew an analogy to wall street and called it a "rigged game". So, I'm curious to hear how he'd rig it.

blocktuw 14y ago

This is excellent. Any explanation to accompany the graph? How about a link to the source?

cadetzero 14y ago
Source, on the whole, is http://bitcoincharts.com/ http://bitcoincharts.com/ You can break down all the numbers yourself. You can also get a giant history table of all buy/sells with times from either bitcoinity or bitcoin charts, I forget which.
- jlogsdon 14y ago
  http://bitcoinity.org/markets http://bitcoinity.org/markets is the place I watch. The table on the right is aggregated buys/sells, so if you see something like "200 for 90.00" it could be 20 people buying/selling 10 coins, not 1 doing 200.

waterlesscloud 14y ago

The mini-crash yesterday was interesting. The 5k dump itself only moved the price down a couple of dollars, but there was a mass movement of smaller transactions that followed it and caused the price to really drop. My personal (amateur) theory is that people were hovering over their "sell" buttons, looking to cash out as we approach the landmark $100 point. Once they thought someone with a lot of coins was bailing, they took that as a sign to head for the exit. I also think that MtGox's horrible lag factors into the dips. Their trading engine was running as much as 8 minutes behind during this event, which causes people to not be able to modify or place orders. Along with not being able to see actual "current" trading info, this causes a certain segment of the trading population to go into full panic mode. Placing market sell orders in an engine that's showing you ancient data during a crash seems suicidal, but for some reason people do it. I'd love to see Gox upgrade its engine. I honestly think it would make a notable difference in price stability. Even better, I'd like to see the market grow strong enough to support 3 or 4 primary trading sites. There are a number of others now, but the rest have such low volume that you should only use them to pursue specific opportunities (arbitrage).

deleted 14y ago
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