Quote from: AbeSkray on June 24, 2011, 06:30:31 PM

As of this posting, there are six instances of "order" on the page you linked. Here is the first one from Mark:

Quote from: Mark Karpeles

Users may place orders to buy or sell, but they will be queued until we enable trading, which will most likely be a couple of hours after users are able to login to Mt.Gox.

Unfortunately, this does not answer the question, "Will limit orders that existed before the massive sell-off be restored or cancelled?"

The other 5 instances of the word "order" come in the comments section from users who seem to be just as unclear about the answer to the question. TraderTimm, thanks for providing the link, but I don't see any information on that page that clearly spells out what will happen to the order book when Mt Gox re-opens before trading resumes.

At best, I can infer that the order book will be restored by this statement:

Quote from: Mark Karpeles

The bitcoin will be back to around 17.5$/BTC after we rollback all trades that have happened after the huge Bitcoin sale that happened on June 20th near 3:00am (JST).

In order for the bitcoin to return the exchanged rate of ~17.5, he would have to restore the bid and ask orders (or at least the ones near that price). At least, that's my interpretation.

You seem really confident that a decision has been made and clearly communicated. I wish I was as confident!

As of this post, Tradehill is at 16.80 last, which validates another theory I had. Wouldn't it be interesting if it achieved parity with the last Mt.Gox rollback price?

Anyway, the way I see it is this - rollback means blow out every bid and offer after a certain timestamp. The last traded price is 17.50 in this case.

The order queue will be filled once the exchange opens an hour prior to trading, with timestamps on bid/offers providing tie-breakers in case there are other orders at the same price.

So, what this means is - any suggestion to open at a different price is invalid. It will be 17.50.

Any future 'tick' will be determined by the order book at that time, not by anything in this thread.

Therefore, this thread has zero effect on any part of the re-opening process.

I rest my case.