Where exactly did you read this? I have asked for clarification of this fact.. and I have yet to find it.. All I have found is speculation and heresay...
Could you please do me a kindness, ..... LINK!?!?!
Good question. I know I saw this officially stated somewhere - I absolutely remember reading it and knowing it was from Adam or Mark aka official - and not just in irc. I'm 90% sure it was on the support page mtgox.com is being redirected to.
I'm basically like you. I know I have read it somewhere, but I can't remember any further detail.
I asked this question in
another thread. Unfortunately I received two contradicting responses that referenced the same source! The source was the
The Bitcoin Show interview with Mt Gox. Skip to minute 38:00 where Mt Gox is asked if the order book would be cleared out. I've listened a few times, but Mark's accent is difficult for me to process. It sounds like he says:
- Yes, your orders will still be there (if they are close(?) to Bitcoin -- not sure what that means), and
- you will have an option to clear your orders when your account reclamation is approved
Edit: Here's my attempt at transcribing the dialogue:
OOTV: When you reopen, will the order book be empty? Will all the orders be cancelled?
Adam (repeating the question for Mark): If you had an open order before the attack will you still have an open order?
Mark: Yeah, if you had an open order you will still have an open order if its still close enough to Bitcoin. Unless when you claim you will have an option to cancel all the open orders, too.
It sounds like Mark is saying that limit orders close to the last price of Bitcoin (17.51) will be restored -- which would explain how the price would be restored. But how close is close? Is my $12 buy order close enough?
See.. this is the EXACT reason I keep asking this question... I have a standing order to buy BTC @ $15 each.. and that order would essentially wipe out all of my buying power... and quite honestly would be a TERRIBLE TRADING DECISION.
That order does not represent my intentions at this point.. and was placed based upon market conditions PRIOR to the attack on the system...
I just don't see how 60 minutes is enough time for users of their system to log on and adjust their standing orders.. prior to when trading resumes...
The account claim page couldn't even stay up long enough with the load of people attempting to reclaim their accounts... and crashed shortly there after.