cool vid of it crashing in real time
http://www.youtube.com/watch?v=T1X6qQt9ONg
Topic: Someone cashed out on mtgox - price from $17 to $0.01 in minutes! - page 2. (Read 24529 times)
June 19, 2011, 01:58:59 PM
June 19, 2011, 01:53:49 PM
Too bad I was out to lunch when this crashed happened! I would have bought like crazy. I had a grand, but it got filled at 14.5, sigh...
It was not possible to buy during the crash, only old orders were made June 19, 2011, 01:51:22 PM
Mt Gox site is down.
I wonder if Mt Gox will EVER go online again.
If so, some people will be very lucky,
But I really wonder if those who got many bitcoins for cents - will ever get their money or their bitcoins.
When the crash happend I managed to pull out 80% of my BTC (because obivously there is daily limit - I never heard of before...?)
I wonder if I will ever see the rest...
Let's hope Mt Gox will not default on everyone!!!
I wonder if Mt Gox will EVER go online again.
If so, some people will be very lucky,
But I really wonder if those who got many bitcoins for cents - will ever get their money or their bitcoins.
When the crash happend I managed to pull out 80% of my BTC (because obivously there is daily limit - I never heard of before...?)
I wonder if I will ever see the rest...
Let's hope Mt Gox will not default on everyone!!!
June 19, 2011, 01:49:57 PM
Sounds like it was legit orders after all. Someone with lots of btc was hacked.
That can't be right, if they were hacked, the bitcoins would have been sent out, not sold. It is too hard to get USD out. Mt Gox won't let stolen USD be removed.
June 19, 2011, 01:47:10 PM
Sounds like it was legit orders after all. Someone with lots of btc was hacked.
June 19, 2011, 01:45:40 PM
Too bad I was out to lunch when this crashed happened! I would have bought like crazy. I had a grand, but it got filled at 14.5, sigh...
June 19, 2011, 01:41:05 PM
I can confirm that my emergency buy order @ $10 was filled...Someone dumped all his coins (or a large enough block) to fill sell everyone's buy orders on the entire market.
Obviously it is an attack on bitcoin. Financial attack.
Bitcoin is a young currency based on trust. Attackers try to destroy that trust.
June 19, 2011, 01:39:50 PM
I can confirm that my emergency buy order @ $10 was filled...Someone dumped all his coins (or a large enough block) to fill sell everyone's buy orders on the entire market.
well thats good. 
June 19, 2011, 01:36:22 PM
There is nothing illegitimate about an early adopter selling half a million coins[/b][/color]
Yea but what wallet had half a million coins? As far as i know no one June 19, 2011, 01:33:48 PM
I can confirm that my emergency buy order @ $10 was filled...Someone dumped all his coins (or a large enough block) to fill sell everyone's buy orders on the entire market.
June 19, 2011, 01:32:51 PM
If MtGox was realy hacked where are the people in this threat who screaming "my account was hacked and all my assets are sold for nothing" ? People in the forum seems still to have his MtGox money to try to creat new orders.
June 19, 2011, 01:32:18 PM
http://blockexplorer.com/address/18T3AFPJ2sTu6ti7gGj5x52uzJNmVFw9y9
maybe someone exploited the websites making everyone sell there coins at 0.01cents and bought them all up
Well that would make the 25.000 BTC theft like a nothing... maybe someone exploited the websites making everyone sell there coins at 0.01cents and bought them all up
June 19, 2011, 01:29:40 PM
I put my order in for .01 or .10 in when it was around $5
I set it up to buy 100 coins for $1 each but somehow misplaced the decimal and ended up with nearly 100 coins for $1
the bad part is that everyone else who bought the coins is going to be selling immediately and the price will stay low until they sell out
I set it up to buy 100 coins for $1 each but somehow misplaced the decimal and ended up with nearly 100 coins for $1
the bad part is that everyone else who bought the coins is going to be selling immediately and the price will stay low until they sell out
I don't like this, but have to agree with your view:
Once people get into their account on MtGox, especially after the weekend, those who had placed orders at 1$ and below, will very likely dream about being millionaires and cash out quickly.
The next days will be wild.Nothing for people not experienced in trading.
Forget about stable bitcoin rates for a while.
And by the way, people should be careful to speculate about that this was not a valid trade. Let's first get the facts. There is nothing illegitimate about an early adopter selling half a million coins.
EDIT:
The way the BTC were sold(just one huge sell order at probably 0.001) leads me to rather speculate that someone who does not care about money purposely wanted to dump the price (goverment-related body, competition to Bitcoins, etc..) This is where the investigations should look for.
June 19, 2011, 01:25:06 PM
http://blockexplorer.com/address/18T3AFPJ2sTu6ti7gGj5x52uzJNmVFw9y9
maybe someone exploited the websites making everyone sell there coins at 0.01cents and bought them all up
maybe someone exploited the websites making everyone sell there coins at 0.01cents and bought them all up
June 19, 2011, 01:24:03 PM
It doesn't look normal because IT IS NOT. Somebody stole/broke into MTGOX database and has a bunch of bots messing up with the database. DO NOT PUT ORDERS NOR PANICK! Clearly, as soon as I get Mark to wake up 
he'll have to do an UNDO on the database and everything will be back to normal.
he'll have to do an UNDO on the database and everything will be back to normal.not before I cash out and buy my yacht
June 19, 2011, 01:18:22 PM
http://forum.bitcoin.org/index.php?topic=19192.msg244096#msg244096
Found the problem...people were wishing again.
Found the problem...people were wishing again.
June 19, 2011, 01:17:19 PM
They were all good trades, someone just cashed out majorly. Or maybe I'm wrong.
June 19, 2011, 01:16:54 PM
For what it is worth - here's what the size looked on two of the big 'cash out' orders. Sure made no sense to me, since normal markets match best bid/offer instead of crossing at arbitrary prices.
First Pic:
Second Pic:
So, anyone know what the heck is going on with Mt.Gox?
First Pic:
Second Pic:
So, anyone know what the heck is going on with Mt.Gox?
It doesn't look normal because IT IS NOT. Somebody stole/broke into MTGOX database and has a bunch of bots messing up with the database. DO NOT PUT ORDERS NOR PANICK! Clearly, as soon as I get Mark to wake up
he'll have to do an UNDO on the database and everything will be back to normal.
June 19, 2011, 01:14:57 PM
hahahahahahahahahhahahaa...
there is no way to separate good trades from bad ones....
If MTGox will even try to do it - it's time for another MTGox....
there is no way to separate good trades from bad ones....
If MTGox will even try to do it - it's time for another MTGox....
June 19, 2011, 01:14:07 PM
For what it is worth - here's what the size looked on two of the big 'cash out' orders. Sure made no sense to me, since normal markets match best bid/offer instead of crossing at arbitrary prices.
First Pic:
Second Pic:
So, anyone know what the heck is going on with Mt.Gox?
First Pic:
Second Pic:
So, anyone know what the heck is going on with Mt.Gox?
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