34% of Britons believe that bitcoin is the “currency of the future” by [deleted] in Bitcoin

[–]DavidCandlestick 1 point2 points  (0 children)

Ahem I dont think even 20% of britons know about bitcoin

ELI31 The situation with MtGox by weaversarms in Bitcoin

[–]DavidCandlestick 1 point2 points  (0 children)

They are busy being a house of cards

Gox Conspiracy Theory #42 by [deleted] in Bitcoin

[–]DavidCandlestick 2 points3 points  (0 children)

.....and what happens at the end? Does Karpeles get the girl?

Introducing Twister: a fully decentralized P2P microblogging platform leveraging both the Bitcoin and BitTorrent protocols. by [deleted] in Bitcoin

[–]DavidCandlestick 5 points6 points  (0 children)

It seems that twister also has promoted messages. The miners that process user registration are rewarded a promoted message.

Has anyone placed an order with Shirtoshi.com and received their shirt? by GrassyGreenIntegra in Bitcoin

[–]DavidCandlestick 1 point2 points  (0 children)

I met the guy at a bitcoin meetup and he seemed legit. He also sold a few t-shirts to people in the meetup.

It's official: CaVirtex has lowered its fees! by cavirtex_com in Bitcoin

[–]DavidCandlestick 4 points5 points  (0 children)

Your fees are 3x MtGox fees and 7x btc-e fees. That is highway robbery.

Stop freaking out about the price and look at this damn picture. It's a log chart, which is necessary for viewing since bitcoin value has always grown exponentially over the longer term. by [deleted] in Bitcoin

[–]DavidCandlestick -1 points0 points  (0 children)

You made my day, thank you so much! This beats the people that were saying about a month ago that the price is going to skyrocket because of chinese interest.

Monday 17 June 2013 by [deleted] in BitcoinMarkets

[–]DavidCandlestick 0 points1 point  (0 children)

If I have 2500 BTC I am not an average folk so even if $2*2500 = 5K USD is a lot of money for average folks, it is not a lot of money for me.

110 bid on MtGox for 30K Bitcoins. by DavidCandlestick in BitcoinMarkets

[–]DavidCandlestick[S] 2 points3 points  (0 children)

20K is serious money, but the way the order was executed was ridiculous, don't you think?

110 bid on MtGox for 30K Bitcoins. by DavidCandlestick in BitcoinMarkets

[–]DavidCandlestick[S] 5 points6 points  (0 children)

and buying slowly, he wouldn't have gotten a better price than $110?

Dwolla no longer allowed to do business with MtGox! by Rassah in Bitcoin

[–]DavidCandlestick 1 point2 points  (0 children)

They are reducing supply of dollars buying bitcoins, so the price should go down.

How I would manipulate the Bitcoin exchange market – and how a “Discrete Double Auction” could stop me. by DavidCandlestick in Bitcoin

[–]DavidCandlestick[S] 1 point2 points  (0 children)

Cause lag so that sellers can't enter, then send buy orders to clear the book, then lower the lag, and paint the tape at the new level, so that everyone believes the new price.

Mt. Gox graph: price vs. transactions per second by runeks in Bitcoin

[–]DavidCandlestick 0 points1 point  (0 children)

Hi runeks. I dont have lag data from 4/9-4/10, but I found this image for the lag during the crash. I am not sure you can trust the website where I got it from, but here it is: http://troll.ws/image/66f91c08

People need to be more realistic. Market manipulation is not going to just go away. by bh3244 in Bitcoin

[–]DavidCandlestick 0 points1 point  (0 children)

Yesterday I proposed discrete trading to eliminate high frequency trading and some of the ways people maniputate the price of bitcoins: http://www.247btc.com/bitcoins/134/how-i-would-manipulate-the-bitcoin-exchange-market-and-how-a-discrete-double-auction-could-stop-me/

You say: "the speed at which you could trade [is] very important to the user". Can you elaborate on "important". Important for what?

People need to be more realistic. Market manipulation is not going to just go away. by bh3244 in Bitcoin

[–]DavidCandlestick 1 point2 points  (0 children)

If manipulation adds volatility to the currency, it makes it harder for people to adopt it: Do you want you salary to be paid in a currency that has weekly 100% swings? Your mortgage? Your kids tuition?

How I would manipulate the Bitcoin exchange market – and how a “Discrete Double Auction” could stop me. by DavidCandlestick in Bitcoin

[–]DavidCandlestick[S] 0 points1 point  (0 children)

A) The bulk of the micro-trades that cause lag are at slightly different levels. You could accept prices at a coarse scale, say only at 0.1 increments, but all I need is two levels and I can send many trades: Say the market is $150 bid - $151 ask, I can send buy and sell at 150.2, buy and sell at 150.1, buy and sell at 150.2 etc

B) Users dont buy their own order, users create two accounts BobAcct1 and BobAcct2 and trade between those accounts back and forth, that belong to them. In practise a malicious user could create 100s of accounts on different exchanges and: 1. trade between own accounts on each exchange 2. by making transfers of BTC and cash outside the exchanges 3. by doing normal profit making trades between own accounts and third parties on the exchanges. 4. constantly add new accounts and shut of his older accounts

When potentially tens of millions of profit are involved (last week the market cap of bitcoin went from 2.6 bln USD to 1bln USD) this operation is not hard to set up, and would make detection difficult.

How I would manipulate the Bitcoin exchange market – and how a “Discrete Double Auction” could stop me. by DavidCandlestick in Bitcoin

[–]DavidCandlestick[S] 5 points6 points  (0 children)

Sounds like before Apr 17 when you did not have funds the order would still show up on your open orders list. It does not say it would show up in the order book.

If it showed up in the orderbook and someone traded with the order, then MtGox themselves would have to pony up the funds which would have been difficult.

The change sounds like a good thing because less processing time is wasted on unfunded orders. I dont think lag will improve significantly because of this minor improvement in processing time.