Did BTC really just hit 1 cent ?? | Bitcointalksearch.org

opticbit

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Quote from: Mike 71 on June 19, 2011, 03:10:47 PM

More interesting in that case is the fact that one wallet can kill the market and set the price to 1 Cent.

After thinking over, i will place some buy orders in different prices. Maybe sometime a drunk owner of a similar wallet will place an panic-sellorder Grin

(after thinking over a second time, i should not tell this anyonen if i would believe to get rich with bitcoins)

Greetings

I have that set up on one of the exchanges, I should make it more reasonable though.

Mike 71

newbie

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More interesting in that case is the fact that one wallet can kill the market and set the price to 1 Cent.

After thinking over, i will place some buy orders in different prices. Maybe sometime a drunk owner of a similar wallet will place an panic-sellorder Grin

(after thinking over a second time, i should not tell this anyonen if i would believe to get rich with bitcoins)

Greetings

Chucksta

full member

Activity: 168

Merit: 100

Quote from: Alex Beckenham on June 19, 2011, 02:49:42 PM

Quote from: Chucksta on June 19, 2011, 02:00:03 PM

You can't fake BTC.

No, but you could put fake database entries that make a gox account look like it has btc in it, and trade with that for real dollars.

Good point...

Now to find someone who can do that...

Kidding, kidding Wink

Alex Beckenham

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Quote from: Chucksta on June 19, 2011, 02:00:03 PM

You can't fake BTC.

No, but you could put fake database entries that make a gox account look like it has btc in it, and trade with that for real dollars.

Coin.Karma

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Thanks that nothing worse happened...cheers to all...we should all be back working towards a de-centralized planet...

Chucksta

full member

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Problem solved:

Naughty little hacker from Hong Kong, or at least using an HK IP address, stole someone's very full wallet:

https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback

Chucksta

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You can't fake BTC. Some numpty just offloaded a crazy amount all at once, lol

Damn, damn, damn... can't get on to the exchange to buy buy buy Sad

Bit_Happy

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A Great Time to Start Something!

My first ever run on sentence.....

The drama continues

Did BTC really just hit 1 cent ?

No one knows yet, might have been a hacker trading, but they would have had to have complete access to the database to add 500,000 fake BTC, so there is a chance it was real, since the seller got great prices on the first ~half of the order, but would that make a profit when you sell over 200,000 at 1 cent, who bought at one cent and do they get to keep them, and how many days/hours before trading resumes + how many "lucky buyers" withdrew their possibly fake BTC before the site went down?

Chucksta

full member

Activity: 168

Merit: 100

Or am I going mad ?

Cannot get onto MT Gox

Damn, if ever there was a good time to buy !!

Topic: Did BTC really just hit 1 cent ?? (Read 2152 times)