BITCON... WHY its totally FLAWED

Altima said:
Haha. I hope you make a killing with your investment mark, but I would stick to gold/silver.

Call me old-fashioned, but I like to physically take ownership of the stuff I buy. :)
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+11111 :D
 
Peaked at A$163.1 this arvo.
Good to see it go like that.

It does seem like the momentum is accelerating... let's see how it pans out in the coming weeks.
 
so if i had bought 10 coins when they were 100 a couple of months ago they would be worth 1600 now? How long can rampant inflation like this go on for??
 
Just need someone to be first to step up to the plate.

A former colleague living in honkers is the architect behind https://anx.hk/ - it's a new exchange that has regulatory approval to operate in Hong Kong, with a focus on security of the exchange. Keen on seeing how it progresses.
 
Just watched someone pull a raid on anx.hk due to low volumes, basically wiped out all of the open selling positions and put in place a new high buy offer of $150 USD - some changed hands at $259 USD in the melee. A single sell order at over $25,000 USD/BTC was the cheapest available BTC for a few minutes. Not sure how the perpetrator profited, but right now someone is willing to buy 20BTC for $150 USD ea if you want to transfer over there and sell!
 
goldpelican said:
Just watched someone pull a raid on anx.hk due to low volumes, basically wiped out all of the open selling positions and put in place a new high buy offer of $150 USD - some changed hands at $259 USD in the melee. A single sell order at over $25,000 USD/BTC was the cheapest available BTC for a few minutes. Not sure how the perpetrator profited, but right now someone is willing to buy 20BTC for $150 USD ea if you want to transfer over there and sell!
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Possibly a fat finger trade?
 
Shocker if it was - the entire sell side of the market was bought out. It's a new exchange with very light volumes. I suspect someone was trying to take advantage of the volumes and shift the market to their advantage somehow. Probably only took $10k to do it.

I know that there's some investigation happening right now, but while it's in this startup phase with low volumes, this sort of event is possible. Looks like someone got lucky and had their long shot sell orders of $259/BTC filled!
 
goldpelican said:
Shocker if it was - the entire sell side of the market was bought out. It's a new exchange with very light volumes. I suspect someone was trying to take advantage of the volumes and shift the market to their advantage somehow. Probably only took $10k to do it.

I know that there's some investigation happening right now, but while it's in this startup phase with low volumes, this sort of event is possible. Looks like someone got lucky and had their long shot sell orders of $259/BTC filled!
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Where can I find out more information about anx.hk and I assume they will be a direct competitor to mtgox?
 
I actually think it might not be such a bad thing. Always linking bitcoin and Silk Road certainly does not help grow confidence and mainstream acceptance in the currency. This could help legitimise it. We'll see what happens.
 
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