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BitCoin Value Collapses, Possibly Due To DDoS
hydrofix writes "The Bitcoin-to-USD exchange rate had been climbing steadily since January 2013, from around 30 USD to over 250 USD only 24 hours ago. Now, the value bubble seems to have burst, at least partially. The primary trading site MtGox reported a drop in value all the way down to 140 USD today, a loss of almost half in real value. With many sites unreachable or slow, there are also news of a possible DDoS attack on MtGox: 'Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.'"
have found another target. Having bankrupted several major economies they are looking for virgin lands to grab.
My money is a few bits in my bank's private datacenter.
What's the price of a few bits? If it's what Wells Fargo is telling me it is - holy shit. I've got a NAS with several TB of storage sitting here. Do you know how large of a number I can store on that sucker?
I'M RICH! Monocles and top hats for everyone on Slashdot! You get a monocle! And you get a monocle! And you get a monocle!
And I don't even care that Anonymous Cowards are getting back in line for multiple monocles!
...and you've just got mtgox DDoS'ed again. Well played, Sir.
OTOH, tulip bulbs do have intrinsic value, hence they are the ideal currency.
Escher was the first MC and Giger invented the HR department.
au contrair, bitcoin is a raging success. it generates the <blink> LULZ </blink> every time some whiner bitches about what a useless waste of electricity it is.
full disclosure -- I too enjoy slagging on bitcoin with cheap shots.
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff
Google Glass will be the rich-nerd monocle of the 21st Century
If it works right etc
Wish I had bought some Bitcoins (or mined up a bunch) in January.... They're back up to about $200 now. From about $15/ea in January. Could have been more than a tenfold return if timed right.
Either the Spanish Inquisition or Goldman Sachs. Either way, it sure was unexpected.
I said no... but I missed and it came out yes.
Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor.
Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor.
And with High Frequency Trading, you can get rid if your sandwiches before they go bad. Everybody wins!
The only thing necessary for evil to triumph is for it to be pitted against a slightly greater evil
Dude, you can buy "pizza" with bitcoins.
And by "pizza" I mean, "drugs and hookers."
It should be captioned something like:
"CRIMINALS GAME BITCOIN.
Basement dwellers shocked. World yawns."
People who say that modpoints have no intrinsic value are just wrong.
We really need a corollary for Godwin's Law adapted specifically to Bitcoin discussions: as soon as you say, "Modpoints don't have any intrinsic value!", you lose.
CLI paste? paste.pr0.tips!
Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor.
And with High Frequency Trading, you can get rid if your sandwiches before they go bad. Everybody wins!
Yes, but HFT is pointless. They only take a little nibble per each sandwich trade which would have gotten traded anyway without HFTs, so we're essentially feeding them all for no reason, they're just leaches... For what? A little bit more Liquidity? Who Wants a Soggy Sandwich?!