Two of the largest exchanges seems to be under DDOS (mtgox and bitstamp). And it wasn't 6 hours it was more like 1 hour.
[deleted]
Why should they prevent panic selling? They didn't prevent panic buying...
Bitcoin falls from $266
11–20 of 505 posts
Re: Bitcoin falls from $266
#12Get ready for the massive pop sound...
Re: Bitcoin falls from $266
#13Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward.
However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one region in the world.
Yes, the exchanges need to toughen up and it's sad that someone can manipulate prices so easily but bitcoin is still very geek centric and as long as geeks understand and hold their BTCs this can't succeed. Of course, now that regular people are jumping on the bandwagon it'll be interesting to see how events unfold..
Re: Bitcoin falls from $266
#14See, it's times like this people should remember that bitcoin is not yet a currency and is rather a toy for things like http://bitcoinpyramid.com/r/91 and http://satoshidice.com, or for speculators.
Re: Bitcoin falls from $266
#15Re: Bitcoin falls from $266
#16Am I the only one who thinks of Bitcoin as purely a speculative commodity which is leveraged mostly by the fact that it is in a financial grey area?
Re: Bitcoin falls from $266
#17I'm interested in the price of Bitcoin, but we don't need these daily submissions.
If you're interested in following the price, I suggest these links:
- https://bitcoinity.org/markets
- http://bitcoincharts.com/charts/mtgoxUSD
- http://bitcoin.clarkmoody.com/
If you're interested in talking about the price, try #bitcoin-pricetalk on Freenode.
Re: Bitcoin falls from $266
#18Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward. However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one…
Agreed, it is geek centric both in terms of early adopters, people who will support this even under attacks, and people who build it: https://news.ycombinator.com/item?id=5526118
Re: Bitcoin falls from $266
#19Before crying wolf, understand that bitcoin exchanges are unfortunately not battle hardened internet businesses. Two of the largest exchanges MtGox and bitstamp are both under DDOS. This may be an attempt by someone to make a large buy at a cheaper price. Due to lack of trading, prices are going downward. However, BTC China is still trading at above $275! That's the beauty of bitcoin, it isn't restricted to just one…
I have been following BTC China along side MtGox, and it seems that BTC China is starting to fall also. Price was ¥1700 ($274) 15 minutes ago, and now it runs at ¥1,386.00 ($223). I'm still not sure if this is due to MtGox being DDOS or people panicking and selling everything.