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Bitcoin falls from $266

data.mtgox.com

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Re: Bitcoin falls from $266

#191

Post by axusgrad »

dia80 wrote: post #169
cs702 wrote: post #135

Evidently, many hoarders/speculators decided to cash out at once -- much like the audience in a movie theater would try to go through the exit door at the same time if someone were to yell "fire!" The naive souls who recently bought bitcoins to make a 'quick buck' are in for a rude surprise. In the short run, no one knows how Bitcoin's price will fluctuate. In the long run, however, if Bitcoin continues to work as in…

On the contrary this is just the most pronounced in a series of recent coordinated DDOS / aggressive selling attacks designed to (successfully) inspire panic. The attackers unload their bitcoin before the price gets smashed and presumably buy it all back again from frightened speculators. If anything it might be a positive sign for bitcoin that the attackers are keen to acquire it! On another note, mtgox.com the main…

btc-e seems to be another big one.

http://bitcoincharts.com/markets/ will show prices in the major exchanges, if it's online. I had to use the Google cache.

Re: Bitcoin falls from $266

#192

Post by bdcravens »

dfc wrote: post #170

It is not clear to me why Mt Gox did not suspend trading when the order lag reached 20 minutes and/or once the webpage began returning "Database error" messages. A lot of people are commenting that this will be remembered as the day btc crashed the second time. In my opinion a more accurate characterization would be that today is the day that Mt. Gox crashed.

When Mt. Gox was hacked, everyone assumed they were done, and folks like TradeHill were the future of BTC exchange. Mt. Gox came back, TradeHill got out (though they recently relaunched after several months), and I'm sure that led to a feeling of bulletproofness on Mt. Gox's part.

Re: Bitcoin falls from $266

#193

Post by dia80 »

foobarqux wrote: post #180
dia80 wrote: post #169

Earlier quoted context omitted.

On the contrary this is just the most pronounced in a series of recent coordinated DDOS / aggressive selling attacks designed to (successfully) inspire panic. The attackers unload their bitcoin before the price gets smashed and presumably buy it all back again from frightened speculators. If anything it might be a positive sign for bitcoin that the attackers are keen to acquire it! On another note, mtgox.com the main…

What evidence do you have of this claim?

Will a press release from the target suffice?

https://mtgox.com/press_release_20130404.html

Re: Bitcoin falls from $266

#194

Post by joel_perl_prog »

eksith wrote: post #146

BTC crashed primarily because the market suddenly got flooded by Bitcoinbillionaire : http://arstechnica.com/business/2013/04/bitcoin-crashes-losi... This bares repeating... The value of BTC is in the nature of the transaction; not the currency itself. People have turned BTC into a commodity instead of actually bloody spending it. Their old fashioned thinking still ties it to traditional fiat like a smoker trying to…

You had it the first time: "bears" is correct.

Definition 3 c: http://www.merriam-webster.com/dictionary/bear

Re: Bitcoin falls from $266

#195

Post by Torgo »

pseudonym wrote: post #141
ashray wrote: post #91

Earlier quoted context omitted.

All bitcoin sites, whether they are forums or exchanges went down. It was a widespread DDOS on pretty much anything bitcoin related. For example: bitcointalk.org was also down.

I'm going to vote on the side of "people hitting bitcoin related sites to figure out why the price is dropping so fast", as opposed to an "actual" DDOS. The result, however, amounts to the same thing.

At about the same time as mtgox was slammed with a DDOS, Dwolla (which is a common intermediary to get money in and out of mtgox) was too. The timing seems highly suspicious.

Re: Bitcoin falls from $266

#196

Post by phreeza »

cpressey wrote: post #178
Retric wrote: post #152

Earlier quoted context omitted.

Assuming that bit-coin is not passed over for a more useful digital currency at which point the network fails and the total value of all bit-coins falls to 0.

I wonder if the value would ever fall to precisely zero. Mightn't they still have value as a novelty or collector's item? Like, "Hey, a Bitcoin! I remember those... sure, I'll buy one, just to say I have one." It's unfortunate that you couldn't mount it in a decorative frame, though.

At some point it would probably be easier to mine one, if the value and interest drops low enough.

Re: Bitcoin falls from $266

#198

Post by awj »

DanBC wrote: post #187
dubfan wrote: post #179

Earlier quoted context omitted.

Do you have any evidence at all of a coordinated attack against Bitcoin, or is this just an unsubstantiated conspiracy theory?

Don't the DDoS attacks count as evidence?

What DDoS attacks? So far I've seen no compelling evidence that this is anything but high volumes of legitimate usage.

Re: Bitcoin falls from $266

#199

Post by foobarqux »

dia80 wrote: post #193
foobarqux wrote: post #180

Earlier quoted context omitted.

What evidence do you have of this claim?

Will a press release from the target suffice? https://mtgox.com/press_release_20130404.html

That's from a week ago. Is there any evidence that a DDOS happened today?

Re: Bitcoin falls from $266

#200

Post by nacho2sweet »

It's a crazy un-regulated trading market were you can get in some old fashioned market manipulation from some smart dudes and no one can do anything about it.

Personally I think Tulips were prettier, but I know most of you coders like bits.

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