Coinmarketcap is showing BTC price $800B USD

#1

Post by john37386 » Tue, Dec 14, 2021, 9:58 PM UTC

The live Bitcoin price today is $814,432,645,419 USD

Why is coinmarketcap showing btc price at $814B?

https://coinmarketcap.com/currencies/bitcoin

Re: Coinmarketcap is showing BTC price $800B USD

#2

Post by john37386 » Tue, Dec 14, 2021, 9:59 PM UTC

It's now at $1T

Re: Coinmarketcap is showing BTC price $800B USD

#3

Post by TinyRick » Tue, Dec 14, 2021, 10:01 PM UTC

I wonder if they run a Java stack and were vulnerable to log4j.

Re: Coinmarketcap is showing BTC price $800B USD

#4

Post by adflux » Tue, Dec 14, 2021, 10:07 PM UTC

I think were witnissing a major hack/breakdown of the space.

Wouldnt be surprised to see a big crash now.

Seems like hackers found a way to manipulate the rates. Let's see if they found a way to get their ill gotten gains off of the many platforms affected by this.

Re: Coinmarketcap is showing BTC price $800B USD

#5

Post by nostrademons » Tue, Dec 14, 2021, 10:08 PM UTC

Bug in CMC, presumably. Coinbase Pro has it at $48,273. Y!Finance has it at $32,402.18, down 30%, but they source their data from CMC.

The only price that matters is what you personally buy/sell at.

Re: Coinmarketcap is showing BTC price $800B USD

#6

Post by cyanydeez » Tue, Dec 14, 2021, 10:12 PM UTC

TinyRick wrote: post #3

I wonder if they run a Java stack and were vulnerable to log4j.

And someone was afraid if they steal and sell

Re: Coinmarketcap is showing BTC price $800B USD

#7

Post by mtmail » Tue, Dec 14, 2021, 10:18 PM UTC

"This is a display issue only and does not impact trading" https://twitter.com/CoinbaseSupport/status/14708761525038039...

Re: Coinmarketcap is showing BTC price $800B USD

#8

Post by TinyRick » Tue, Dec 14, 2021, 10:22 PM UTC

mtmail wrote: post #7

"This is a display issue only and does not impact trading" https://twitter.com/CoinbaseSupport/status/14708761525038039...

Not sure that I agree that it "does not impact trading" since so much trading is done by bots / algorithms these days. Bad data definitely impacts trading.

I think what they mean is that no one can actually sell for these inflated prices, since each trade requires two parties, and no one is buying at these prices.

Re: Coinmarketcap is showing BTC price $800B USD

#9

Post by jstx1 » Tue, Dec 14, 2021, 10:32 PM UTC

adflux wrote: post #4

I think were witnissing a major hack/breakdown of the space. Wouldnt be surprised to see a big crash now. Seems like hackers found a way to manipulate the rates. Let's see if they found a way to get their ill gotten gains off of the many platforms affected by this.

It has happened before; it's much more likely to be a bug than a hack. No way a glitch like this causes an actual crash.

Re: Coinmarketcap is showing BTC price $800B USD

#10

Post by trompetenaccoun » Tue, Dec 14, 2021, 10:40 PM UTC

Dont use CMC. Coingecko is more reliable.