Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Bitcoin Discussion
Re: You are all dumb and got warned this would happen.
by
CurbsideProphet
on 11/04/2013, 20:37:38 UTC
Quote from: niko on April 11, 2013, 08:22:34 PM
Quote from: CurbsideProphet on April 11, 2013, 07:39:46 PM
Quote from: Mrkeety on April 11, 2013, 07:37:53 PM
Wasn't the crash in '11 caused by MTGOX being ddos'd also?

No, they were hacked and someone sold off a ton of stolen BTC's crashing the market.  They were at the epicenter but it wasn't a DDoS.

No. The 2011 peak took place around June 9th (the bubble burst, if you prefer that term). MtGox was hacked around June 20th.



And as your chart shows, there's a big gap with no trading due to the hack (which sent BTC into the ground) and was subsequently reversed when MtGox didn't honor the rogue trades.  That, however, didn't stop the fall but you conveniently clipped the chart short.