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    Author Topic: Phantom asks at mt gox  (Read 1348 times)

    • DamienBlack (OP)
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    June 29, 2011, 06:23:14 PM
     #1
    Looking at the bid/ask lists at mt gox here: http://bitcoin.clarkmoody.com/order-book/

    There is overlap between the bids and asks.

    Bids

    5.0   5.0000   16.851
    7.4   2.3798   16.84
    8.1   0.7600   16.83

    Asks

    16.75977   0.2000   0.2
    16.75998   0.0500   0.3
    16.83999   3.2600   3.5

    and it isn't going away.

    While I'm trading (I'm the 15.851 bid) It seems that I can't pick up the first few asks. They all seem like phantom asks. Yet at mt gox, I'm told when placing an order that the lowest ask is 16.75, even though it doesn't seem be real.

    It seems like this could be artificially be holding prices down.

  • Serge
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    June 29, 2011, 06:26:10 PM
     #2
    It's been like that on and off since mt relaunched.

    Would be great to hear official statement about this bug and ETA for fixing it

  • BitcoinPorn
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    June 29, 2011, 06:26:39 PM
     #3
    Quote from: DamienBlack on June 29, 2011, 06:23:14 PM
    While I'm trading (I'm the 15.851 bid) It seems that I can't pick up the first few asks. They all seem like phantom asks. Yet at mt gox, I'm told when placing an order that the lowest ask is 16.75, even though it doesn't seem be real.

    It seems like this could be artificially be holding prices down.

    That is.. interesting.   Looking forward to how this gets explained.
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  • CurbsideProphet
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    June 29, 2011, 06:27:48 PM
     #4
    How are phantom bids artifically holding down prices?  I'm assuming these phantom bids are using the exploit found yesterday and will not be executed.  Is it preventing legit orders from being executed?  If not, it's not holding down anything, just screwing up the bid/ask charts.
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  • BitcoinPorn
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    June 29, 2011, 06:28:48 PM
     #5
    Quote from: CurbsideProphet on June 29, 2011, 06:27:48 PM
     If not, it's not holding down anything, just screwing up the bid/ask charts.

    Damn, now I wish I had some money in Gox just to have fun :/
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  • DamienBlack (OP)
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    June 29, 2011, 06:29:30 PM
     #6
    Quote from: CurbsideProphet on June 29, 2011, 06:27:48 PM
    How are phantom bids artifically holding down prices?  I'm assuming these phantom bids are using the exploit found yesterday and will not be executed.  Is it preventing legit orders from being executed?  If not, it's not holding down anything, just screwing up the bid/ask charts.

    They are phantom asks, not bids, currently. And if people are using the mt gox interface they keep trying to buy at the price 16.75, when no one is selling that low.

  • CurbsideProphet
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    June 29, 2011, 06:34:01 PM
     #7
    Quote from: DamienBlack on June 29, 2011, 06:29:30 PM
    They are phantom asks, not bids, currently. And if people are using the mt gox interface they keep trying to buy at the price 16.75, when no one is selling that low.

    Ah gotcha, sorry I didn't read your title well enough.  I wonder if people are doing the reverse of the exploit.  Putting up an asking price, withdrawing all their BTC's and hoping the order fills and they get cash with no BTC's in the account to debit?  Although if that's the case, why use such a low number of BTC's?  I would think they would try to get as close to that $1,000 limit as possible.
    1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV

  • dserrano5
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    June 29, 2011, 07:00:27 PM
     #8
    Seems to be fixed.

  • DamienBlack (OP)
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    June 29, 2011, 07:01:24 PM
     #9
    Quote from: an0therlr3 on June 29, 2011, 07:00:27 PM
    Seems to be fixed.

    Yeah, I think you are right. Do you see what happened on the charts while things were screwed up?

  • dserrano5
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    June 29, 2011, 08:25:55 PM
     #10
    Quote from: DamienBlack on June 29, 2011, 07:01:24 PM
    Quote from: an0therlr3 on June 29, 2011, 07:00:27 PM
    Seems to be fixed.

    Yeah, I think you are right. Do you see what happened on the charts while things were screwed up?

    Err, no...

    Anyway, I spoke too soon.
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