This looks like a flash crash....bot manipulation to me. Someone puts in a large sell order, bots follow suit and crash it goes.
http://bitcoincharts.com/charts/mtgoxUSD#rg1zig1-minzvztgWzm1g10zm2g25
Topic: Someone cashed out on mtgox - price from $17 to $0.01 in minutes! - page 3. (Read 24529 times)
June 19, 2011, 01:13:12 PM
June 19, 2011, 01:11:51 PM
How many people had a spreadsheet showing this one...go math...lol.
Lol how many indeed. $0.01 for a bitcoin? Mining definitely is profitable with those kinds of numbers, right? Lmao.
Like I said before...it can go to 0 and I will turn a profit somehow...I stand by my statement.
June 19, 2011, 01:10:58 PM
===== PLEASE READ THIS!! =====
I WOULD NOT PUT ANY TRADES ON UNTIL WE HEAR FROM MARK!!! CLEARLY Mtgox has been hacked. What is happening is NOT somebody "dumping" their bitcoins to "cash out". Somebody managed to break into it, and it is playing with the database. We need to wait until Mark (Mtux) has a chance to check this mess.
If you put more orders, it will only mean overloading the system more and more, and more work afterwards to try and weed out good trades from bad trades.
ALSO, PLEASE DO NOT CASH OUT ANY MTGOX USD TO ANYBODY (LIKE BUYING MTGOX USD FOR A MONEY PACK) UNTIL WE HEAR FROM MARK!!
I WOULD NOT PUT ANY TRADES ON UNTIL WE HEAR FROM MARK!!! CLEARLY Mtgox has been hacked. What is happening is NOT somebody "dumping" their bitcoins to "cash out". Somebody managed to break into it, and it is playing with the database. We need to wait until Mark (Mtux) has a chance to check this mess.
If you put more orders, it will only mean overloading the system more and more, and more work afterwards to try and weed out good trades from bad trades.
ALSO, PLEASE DO NOT CASH OUT ANY MTGOX USD TO ANYBODY (LIKE BUYING MTGOX USD FOR A MONEY PACK) UNTIL WE HEAR FROM MARK!!
June 19, 2011, 01:09:47 PM
so I'm guessing some folks decided to manipulate the market and move large sums around?
June 19, 2011, 01:08:32 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
If what you say is true...you can afford to wait it out.
June 19, 2011, 01:08:20 PM
I'm just glad prices are bouncing back. I was afraid I was going to have to ship coffee for fractions of a penny!
June 19, 2011, 01:07:30 PM
I think someone hacked mtgox, selling all BTC from everyone's accounts
I can still place buy orders:
Buying 240 0.1 Active 24 06/19 14:02 cancel
I can still place buy orders:
Buying 240 0.1 Active 24 06/19 14:02 cancel
June 19, 2011, 01:07:19 PM
Someone laundering the Bitcoins from Allinvain?
June 19, 2011, 01:07:14 PM
How many people had a spreadsheet showing this one...go math...lol.
Lol how many indeed. $0.01 for a bitcoin? Mining definitely is profitable with those kinds of numbers, right? Lmao.
June 19, 2011, 01:06:37 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
June 19, 2011, 01:06:23 PM
Strange thing is i had a dream last night that sooner or later an early adopter would do this. Was even thinking to place a bid at 0.01 for massive amount....
damn
Oh well
damn
Oh well
June 19, 2011, 01:05:40 PM
Well crap, that is really going to mess up my graphs.
How many people had a spreadsheet showing this one...go math...lol.
June 19, 2011, 01:04:58 PM
535,000 bitcoins traded in one day on Mtgox. If that's real, do you guys have any idea how much the mtgox owner made today? 
June 19, 2011, 01:04:41 PM
I'm soooo looking forward to the next RawDog vid
June 19, 2011, 01:04:17 PM
I'm not making it up
I even told you guys to buy in real time when this was happening
don't be jealous that I am smarter and now richer than you
I even told you guys to buy in real time when this was happening
don't be jealous that I am smarter and now richer than you
We all tried to buy them at .01, but none of us could get mt gox to respond.
June 19, 2011, 01:03:35 PM
@bitbot
and who should have sold at 0.01 ct ??
must be someone with amputated brains eh ?
and who should have sold at 0.01 ct ??
must be someone with amputated brains eh ?
June 19, 2011, 01:03:12 PM
Here comes another plummet!
June 19, 2011, 01:02:42 PM
I'm not making it up
I even told you guys to buy in real time when this was happening
don't be jealous that I am smarter and now richer than you
I even told you guys to buy in real time when this was happening
don't be jealous that I am smarter and now richer than you
June 19, 2011, 01:01:51 PM
hello friends
I put in an order for approx 100 bitcoins at some kind of 1 cent price and just now received 99 bitcoins for $1
I put in an order for approx 100 bitcoins at some kind of 1 cent price and just now received 99 bitcoins for $1
Troll.
June 19, 2011, 01:00:46 PM
Look at the depth, if it's really then it doesn't look good.
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