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Bitcoin Price Crashes

Posted by samzenpus on from the black-bit-sunday dept.

Beardydog writes "Bitcoin trading site MtGox.com has suspended operations for the rest of the day after illicit access to at least one account resulted in a steep drop in the price of Bitcoins on the site. Commenters to the support page for the event are reporting that a list of usernames and associated email addresses and password hashes have been posted online. MtGox are currently planning to roll back all of the day's trading, email notices to all affected users, and require replacement passwords for affected accounts."

2 of 642 comments (clear)

  1. Re:Enough already by Anonymous Coward · · Score: 0, Flamebait

    No, YOU don't care, others do.

  2. One more ponzi scheme down. by tomhudson · · Score: 0, Flamebait
    Bitcoin was worse than most fiat currencies, since it wasn't even backed by anything physical - not even a piece of paper.

    It also was a poor "store" of value, since transfers between users required extra energy input to extend the hash values - the typical bitcoin cost more to get to its current "value state" than the value it (theoretically) represented. It's probably the least "green" "currency" on the planet.

    The bitcoin "fans" out there - this is only the beginning. You ignored all the warnings, now BITE ME!