Bitcoin Price Crashes

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."

Comments

Re:This Is Where Slashdot Fails Me

[betterunixthanunix]

"Illicit access to one account?" Your market teeters on the access to one account?!

Exactly what I was thinking when I saw this -- how can a single account be used to crash an entire market like that? Wasn't the claim that Bitcoin would have a stable value and that no single entity could play games with the exchange rate?

It is like people with sense said from the beginning: Bitcoin is going to fail in the long run.