Post
Topic
Board Service Discussion
Re: BTC-e Flash Crash 10/02/14
by
nezarkadhem
on 10/02/2014, 21:51:12 UTC
Stop getting excited about the $102. It's not a big deal. It's just ONE successful buy order.

Here is exactly what happened:

1. MTGOX member 1 wants to sell Bitcoin.
2. MTGOX member 1 states his selling price. In this case, he inputs: $102
3. MTGOX member 2 wants to buy Bitcoin.
4. MTGOX member 2 selects: immediate buy

... MTGOX searches for cheapest buy offer.

5. MTGOX member 2 finds member 1's buy offer. 
6. Transaction complete.

He could have sold 0.0002 bitcoin for all we know for $102 - and it would have still showed up Bitcoinwisdom.