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Topic: $55 - really? Really? Really? - page 7. (Read 11854 times)

hero member
Activity: 882
Merit: 1006
April 11, 2013, 03:37:37 PM
#4
For anyone who still thinks this is a DDOS or a real crash, I urge you to read the latest update from MtGox:

From mtgox facebook: https://www.facebook.com/MtGox/posts/455962117821534

Code:
Hi everyone, just a quick update on the situation and what happened last night.

First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own
success!

Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the
number of trade made a huge impact on the overall system that started to lag. As expected in such situation people
started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze
the trade engine!

To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed triple in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days
of April! We now have roughly 20,000 new accounts created each day.

Due to these facts we have been busy working on improving things since last week and our team has been working
around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today
and in the coming few days to improve our system overall performance.

Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new
servers to our system.

Thank you for your understanding and continuous support!
hero member
Activity: 882
Merit: 1006
April 11, 2013, 03:34:27 PM
#3
Don't take the price seriously at the moment, MtGox (the largest exchange by far, at one point handled 80% of BTC trade) has stopped trading due to massive volume from new users. The price will recover, perhaps not as high as it was before though.
hero member
Activity: 756
Merit: 500
April 11, 2013, 03:34:17 PM
#2
Bitcoin is a giant ponzi scheme and the only winners are the ones that get out first. After that, it crashes.
legendary
Activity: 1274
Merit: 1000
Personal text my ass....
April 11, 2013, 03:32:24 PM
#1
Seriously, what the hell is going on? I feel VERY lucky. On one hand I was able to sell my main coin supply on the 9th I think it was for like $247 / each. I refresh clean once in a while and that was the time. I told myself, once I see it go over $250, sell it all. I sold them all that day and a couple days later money was deposited into my bank account. The next day coin started to drop big time. Most places ceased operations, stopped business or just suspended trading until further notice. Then I had another whole wallet which I kind of forget about and tried really hard to sell those but no such luck. I pretty much have to hang on to them for a while and see what happens. My stupid fault for not remembering. That's a bad thing to do in this business.

Sorry, just wanted to post something positive in my world for once. I rarely EVER get to do that.

So what the hell is making coin go from $250 to $55 in 2 days or less? Yes, you can respond with sarcastic, anal retentive childish remarks if it makes you feel better.


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