The bitcoin flash crash of June 2011

Tavurth

Tavurth

Thought you might find this article interesting

When bitcoin dropped from $32 to $0.01.

If one likes price volatility and scandals, the summer of 2011 was an exciting time for Bitcoin. Over the course of a few days, bitcoin plummeted in value from a peak of $32 to just $0.01 on the MtGox exchange, a trading platform based in Tokyo, which was dominant at the time. This was after a recent rally, with bitcoin trading at around $2 a couple of months earlier. The crash down to $0.01 is now a famous part of Bitcoin history.
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The bitcoin flash crash of June 2011.
 
When I first encountered Bitcoin in 2010, it was probably worth about $0.0008. This number was so small, I couldn't even conceptualize the thing's value. Consequently, I thought of it as a joke—without even the stature (or lack thereof) of a penny stock, and as a result, I deemed it not even worth my time.

If I had simply purchased 10,000 Bitcoin for just eight bucks, I'd be worth $357,558,000 today!.:confused::banghead:
 
expiated said:
When I first encountered Bitcoin in 2010, it was probably worth about $0.0008. This number was so small, I couldn't even conceptualize the thing's value. Consequently, I thought of it as a joke—without even the stature (or lack thereof) of a penny stock, and as a result, I deemed it not even worth my time.

If I had simply purchased 10,000 Bitcoin for just eight bucks, I'd be worth $357,558,000 today!.:confused::banghead:
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just shows you the madness of crypto world. Something that has no purpose, not even really needed, wastes tons of energy turned $80 in 300 million. Madness that have never been witness ever in our history.
 
expiated said:
When I first encountered Bitcoin in 2010, it was probably worth about $0.0008. This number was so small, I couldn't even conceptualize the thing's value. Consequently, I thought of it as a joke—without even the stature (or lack thereof) of a penny stock, and as a result, I deemed it not even worth my time.

If I had simply purchased 10,000 Bitcoin for just eight bucks, I'd be worth $357,558,000 today!.:confused::banghead:
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Do you really suffer over such thought ?
 
I remember when bitcoin was $100, I was too young and too poor to invest. But damn if only I didn't gamble my bitcoin on those stupid dice games. Damn those dice.
 
expiated said:
If I had simply purchased
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If I had married a princess.... If I pulled out in time... If I hadn't driven drunk...

So many regrets in my life. But I am rambling again. The takeaway from this thread is that the future of mo..., I mean the store of va..., I mean the collectors item also know as Bitcoin has crashed 6 times more than 80% in 12 years.

That is something to keep in mind.
 
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