111–120 of 252 posts
How can anyone reliably trade Bitcoin? With Coinbase immensely unreliable, I can't see how anyone would tolerate running algos on their exchange, given they could be in a bad position unexpectedly. What are the other exchanges that you can trade BTC and are they more reliable than Coinbase?
It's a matter of time until Mt. Gox part 2 I think. It may not even take nefarious workings at the top, just sloppy work somewhere + one bad employee or outsider. Is this going to end in a re-discovery of exactly why we have FDIC? Or the SEC? How do people even know how much bitcoin activity is real and not essentially faked? Popular Google Searches by year, by my estimation. 2016: "what is bitcoin" 2017: "what is et…
Define fake
It's a matter of time until Mt. Gox part 2 I think. It may not even take nefarious workings at the top, just sloppy work somewhere + one bad employee or outsider. Is this going to end in a re-discovery of exactly why we have FDIC? Or the SEC? How do people even know how much bitcoin activity is real and not essentially faked? Popular Google Searches by year, by my estimation. 2016: "what is bitcoin" 2017: "what is et…
The big question now is, what happens when somebody sells big for dollars. This would be an excellent time for someone with 10,000 Bitcoins to sell, take their $160,000,000, and go home. Could the market handle that?
Looking at the chart, you could liquidate $130 million and it would move the price down to $5200.
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Isn't it just the simple explanation that big swings in the market bring insane traffic spikes to market websites? Add to the fact that people are also DDOS websites (doesn't take a "big money institution" to do that) and it seems the explanation is clear...
Yea. I work as a software engineer at a company that sees huge swings in traffic on our product (by nature of the product). It's not uncommon for us to see 20x swings in traffic day-to-day. It's taken us a long time to be able to handle that and even then shit still goes wrong. I'm much more inclined to believe the downtime is caused by scaling issues rather than some big conspiracy, EDIT: Just to give some insight,…
It's funny how quickly people jump to overly-complex or borderline conspiratorial explanations when the obvious is staring us in the face...
Coinbase might be a large well funded organization but it's still run by developers with giant backlogs of tickets and conflicting priorities to build new stuff vs maintain old stuff.
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I think you can take off your tinfoil hat. Lots of price movement motivates more traffic to the exchanges, resulting in DDoS. As the bitcoin market grows GDAX, Bitfinex, etc are probably going to have to borrow some ideas/talent from NASDAQ & other big electronic exchanges to stabilize things.
Tinfoil hat off! Shouldn't an exchange be able to handle volume? Seems like a basic requirement. Regardless, I still believe that with the introduction of shorts, were going to see bigger swings.
I'm sure as they grow they'll harden their systems and/or do a total rewrite. In fact I wouldn't be surprised if they're doing it already since the big boys are starting to show interest with futures.
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There was a big multimillion dollar sale today, possibly the cause of the small dip. Looks like it handled it. e: actually, tbf, it was a buy and a sell: https://blockchain.info/address/366k4bqibNrbUyby4xtkDT1demdc... But it does demonstrate the market can just about handle large transactions.
But did it result in an exchange actually transferring millions of dollars out of the exchange to a real bank? That's the question.
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As others said, its determined by what people will pay for it. If you go to an exchange like GDAX (or any stock exchange), you can look at what is called the "order book". If you are a trader, you can act as either a: - "Market Maker" - By placing an entry in the order book, which says something like: "I have up to 100 Bitcoin I'm willing to sell at $15,000.01 a piece", or "I'm willing to buy up to 100 bitcoin at 14,…
Is there a term for those who take advantage of the spread to make their money, essentially placing buy orders and then turning around and placing sell orders? Seems like there must be people making money off those who only "Take" deals and never "Make" them.
It's a matter of time until Mt. Gox part 2 I think. It may not even take nefarious workings at the top, just sloppy work somewhere + one bad employee or outsider. Is this going to end in a re-discovery of exactly why we have FDIC? Or the SEC? How do people even know how much bitcoin activity is real and not essentially faked? Popular Google Searches by year, by my estimation. 2016: "what is bitcoin" 2017: "what is et…
>> How do people even know how much bitcoin activity is real and not essentially faked? Define fake
Earlier quoted context omitted.
Looking at the chart, you could liquidate $130 million and it would move the price down to $5200.
Is that based on the live buy orders? If the price dropped below 10k then I think you would see a ton of new buyers (including me)