11 Apr '13, 7am

Bitcoin Price-Drop Caused By Rush Of Interest, Not DDOS, Says Mt.Gox Exchange; Newcomers Now

Hi everyone, just a quick update on the situation and what happened last night. First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success! Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine! To give you an idea of how impressive things were here are some numbers that we would love to share with you guys: - The number of trades executed triple in the last 24hrs. - The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have...

Full article: http://techcrunch.com/2013/04/11/bitcoin-price-drop-cause...

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