Bitcoin 'Glitch' Sparks 23% Flash Crash

Bitcoin 'Glitch' Sparks 23% Flash Crash | Zero Hedge

zerohedge.com 13 Mar '13, 1am

Bitcoin 'Glitch' Sparks 23% Flash Crash

While we are used to seeing insta-crashes in our highly-regulated and trustworthy equity markets, the unregulated digital world of Bitcoins suffered another flash-crash last night. According to Ars Technica , the 23% plungefest in the value of the digital currency (the second in a week) was due not to Waddel & Reed, not HFT algos, but 'forking' Cryptographic algos gone wild agreeing on different (legacy) keys as being correct - akin to finding Tungsten in your Gold bars (and hence the drop in the value) . This latest glitch is different from the problem that caused Bitcoin prices to briefly crash to zero in June of 2011. In that case, the sell-off was caused by the compromise of the exchange itself, whereas this time the glitch occurred in the core Bitcoin software . Obviously, the incident will be another important test of the cryptocurrency's decentralized governance str...

Full article: http://www.zerohedge.com/news/2013-03-12/bitcoin-glitch-s...

Tweets

@SusanPsychic » 11 Apr '13, 8pm
I haven't found much about the Bit Coin Crash. If you find more info please post it in the comments. Thank you.... [link]
@N3TW0RK23 » 14 Mar '13, 9pm
RT @OffGrid_OilFree: Bitcoin 'Glitch' Sparks 23% Flash Crash | Zero Hedge [link]
@travellinghobby » 14 Mar '13, 1am
@__blender__ [link]
@analiensaturn » 13 Mar '13, 3pm
what was I saying yesterday about bitcoin and EMP? not as bad but critical [link]
@redlotus2 » 13 Mar '13, 3pm
#Bitcoin technology 'Glitch' Sparks 23% Flash Crash, but price recovered quickly | Zero Hedge [link]
@jamesvonsimson » 13 Mar '13, 11am
Bitcoin plungefest the new flash crash... [link]
@sassenvanelsloo » 13 Mar '13, 8am
RT @NicMens: Bitcoin 'Glitch' Sparks 23% Flash Crash. - [link]
@dennismarta » 13 Mar '13, 4am
Fat Finger --> Bitcoin 'Glitch' Sparks 23% Flash Crash [link] #bitcoin
@Nzallblack » 13 Mar '13, 3am
@SilverShield76 Bitcoin 'Glitch' Sparks 23% Flash Crash | Zero Hedge [link]
@Amitch5903 » 13 Mar '13, 2am
@ryanstr you still doing bitcoin? Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@ZolaMehlo » 13 Mar '13, 2am
"@zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]" @burkejoel
@OptionsFeed » 13 Mar '13, 2am
Bitcoin 'Glitch' Sparks 23% Flash Crash [link] via Zero Hedge $$
@1freetruth » 13 Mar '13, 1am
Bitcoin ‘Glitch’ Sparks 23% Flash Crash [link] #Truth #Freedom
@Silverting » 13 Mar '13, 1am
$> Bitcoin 'Glitch' Sparks 23% Flash Crash: While we are used to seeing insta-crashes in our highly-regulated ... [link]
@rgremill » 13 Mar '13, 1am
Lots of Bitcoin craziness this week!!! [link]
@billallison » 13 Mar '13, 1am
Bitcoin 'Glitch' Sparks 23% Flash Crash | Zero Hedge [link]
@ReThePeople » 13 Mar '13, 1am
Did someone say Bitcoin crashed? How does "money" crash? ==> RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@AsiaPacNews » 13 Mar '13, 1am
Bitcoin 'Glitch' Sparks 23% Flash Crash [link] #Banking #Finance
@AppliedFX » 13 Mar '13, 1am
[link] Bitcoin 'Glitch' Sparks 23% Flash Crash [link] #forex #trading RT
@wsf668 » 13 Mar '13, 1am
Oh no. “@zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]”
@TheFireTracker2 » 13 Mar '13, 1am
#Oopsiedoodle RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@EdCarson1 » 13 Mar '13, 1am
Quantitative E-asing. RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@bigbodypresents » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@zerohedge » 13 Mar '13, 1am
Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@rougek67 » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@CitySamuel » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@LawfulPlunder » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@nevhan » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]
@Soulbutter » 13 Mar '13, 1am
RT @zerohedge: Bitcoin 'Glitch' Sparks 23% Flash Crash [link]