The Bitcoin crash

The Bitcoin community faced another crisis on Sunday afternoon as the price of the currency on the most popular exchange, Mt.Gox, fell from $17 to pennies in a matter of minutes. Trading was quickly suspended and visitors to the home page were redirected to a statement blaming the crash on a compromised user account. Mt.Gox’s Mark Karpeles said that the exchange would be taken offline to give administrators time to roll back the suspect transactions.

The article is here, a video is here, more articles here, with general background on Bitcoin volatility here.  The pointer comes from Ken Haskell.

File under Prophets of the Marginal Revolution.

Comments

Comments for this post are closed