A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem

Crash Belies Confidence In Bitcoin

A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem

Bitcoin has been on a tear this year. The virtual currency, which is exchanged anonymously via an online peer-to-peer network, might be starting to go mainstream , as the recent announcement that Silicon Valley Bank will hold Bitcoin deposits suggests. And while there has been a lot of increased interest in Bitcoin as of late, given its meteoric rise, there's still one big problem, as this week illustrates. On Monday, a technical glitch caused a "flash crash," causing Bitcoin to tumble 23 percent. Bitcoincharts.com Click to enlarge Prices have, as the chart shows, mostly recovered from the incident. What exactly happened, though? The glitch that sent Bitcoin tumbling Monday is the result of the unique structure of the Bitcoin exchange. Timothy Lee wrote a good explanation of what caused the incident at Ars Technica: The core of the Bitcoin network is a shared transaction r...

Full article: http://www.businessinsider.com/crash-belies-confidence-in...

Tweets

@GameBreakersCan » 30 Mar '13, 7pm
RT @Bergg69: "A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem" [link] #cdnpoli #uspoli #ukpoli
@Bergg69 » 30 Mar '13, 7pm
"A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem" [link] #cdnpoli #uspoli #ukpoli
@PlanBnB » 19 Mar '13, 11am
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's ...: The virtual currency, which is exch... [link]
@BitcoinOz » 19 Mar '13, 11am
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's ...: The virtual currency, whic... [link] #bitcoin
@scalingwalls » 18 Mar '13, 4pm
@bradheitmann interesting [link]
@Bergg69 » 17 Mar '13, 6pm
"A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem" [link] #cdnpoli #uspoli
@panjwani_ajay » 16 Mar '13, 10pm
"A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem" - [link] - shared from @Taptu
@Diacritic » 16 Mar '13, 4pm
More Bitcoin hilarity [link] via @themoneygame
@maxhager » 15 Mar '13, 9pm
Flash Crashes - not just for stock markets anymore! | [link]
@maxus1com » 15 Mar '13, 5pm
BizInsider: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@mickaelung » 15 Mar '13, 5pm
TechNext: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@RAChampion » 15 Mar '13, 5pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] #tech #media
@elope_ » 15 Mar '13, 5pm
@EBK1000 RT “@TheStalwart: There was a Bitcoin flash crash this week. [link]”
@nathanmitre » 15 Mar '13, 5pm
Not insurmountable IMO RT @SAI A Flash Crash In The #Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@leading_capital » 15 Mar '13, 5pm
"The virtual currency (...) might be starting to go mainstream" [link] via @themoneygame #business
@annareitman » 15 Mar '13, 5pm
@004700550059 Thought you might find this interesting #bitcoin [link]
@AsiaPacNews » 15 Mar '13, 5pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] #Finance
@Giabra_ » 15 Mar '13, 5pm
RT @BitCoinReporter: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's ... - Business Insider [link] #bitcoin
@iandeKids » 15 Mar '13, 5pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem: Bit... [link] #iandekids #busines
@Ir0n1a » 15 Mar '13, 5pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem: Bitcoin has been on a t... [link]
@AryehsSharings » 15 Mar '13, 5pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem: Bi... [link] via @Business Inside
@Stray__Cat » 15 Mar '13, 4pm
Silicon Alley - A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem: Bitcoin... [link]
@RAChampion » 15 Mar '13, 4pm
Money Matters: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] #Investment
@jreesnc » 15 Mar '13, 4pm
"Confidence in money as a store of value is the ultimate driver of its value, both in the cyber and real worlds." [link]
@RHAF_HQ » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] Matthew Boesler
@Jeannette_Bot » 15 Mar '13, 4pm
10 Things To Know. A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@JohnAngel1977 » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] @johnangel1977
@TeamIWowWe » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem: Bitcoi... [link] #media #business
@TeraEuro » 15 Mar '13, 4pm
RT @TheStalwart: There was a Bitcoin flash crash this week. [link] @Tiefseher
@TheStalwart » 15 Mar '13, 4pm
There was a Bitcoin flash crash this week. [link]
@forexpro13 » 15 Mar '13, 4pm
RT @chfxman: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem - [link]
@forexpro13 » 15 Mar '13, 4pm
RT @avtariuz: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] via @businessinsider
@forexpro13 » 15 Mar '13, 4pm
RT @Muppetmaker8: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem - [link]
@forexpro13 » 15 Mar '13, 4pm
RT @StarlettaSoCal: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@forexpro13 » 15 Mar '13, 4pm
RT @TeamYunnoh: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@forexpro13 » 15 Mar '13, 4pm
RT @FUTUREPersp: Flash Crash In Bitcoin Market Reveals Currency's Biggest Problem [link] + Funny Money[slides] [link]
@SebForex » 15 Mar '13, 4pm
A #FlashCrash In The #Bitcoin #Market This Week Revealed The #Currency's Biggest Problem [link] [link]
@FUTUREPersp » 15 Mar '13, 4pm
Flash Crash In Bitcoin Market Reveals Currency's Biggest Problem [link] + Funny Money[slides] [link]
@IEEEGreen » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] #IEEE #IEEEGreen
@avtariuz » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link] via @businessinsider
@munteana » 15 Mar '13, 4pm
Crash Belies Confidence In Bitcoin - Business Insider [link]
@fafinder » 15 Mar '13, 4pm
RT @clusterstock: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@Thomasnvt » 15 Mar '13, 4pm
RT @businessinsider: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@ANAS_ABUNAJA » 15 Mar '13, 4pm
RT @SAI: A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@businessinsider » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@chfxman » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem - [link]
@VirginiaIs4Lvrs » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem - [link]
@SAI » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]
@clusterstock » 15 Mar '13, 4pm
A Flash Crash In The Bitcoin Market This Week Revealed The Currency's Biggest Problem [link]