Showing posts tagged cryptocurrency

Bitcoin Pump and Dump

This graph shows bitcoin climbing roughly $1.60 in 12 hours at MtGox bitcoin exchange, this July 16 (going into 17 depending on your timezone.)  Then at pretty much exactly 0200 GMT someone raked all that money off the table, crashing the price back down to $8.00. 

Meanwhile, bitcointalk.org went offline.  I expect the servers there were overwhelmed by a flood of users trying to get information or make comments.