

The reason Bitcoin Crashed today - ricksta
http://i.imgur.com/umRmL7b.png

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phasevar
Can someone explain how this image relates to the title?

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kyrias
Someone made lots of offers of 0.02 bitcoins for lower and lower price

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ponyous
This wouldn't drop the price. There were just too many transactions and their
engine couldn't handle it. So:

-> Lag -> Panic -> Selling -> Price drop

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ignostic
Correct me if I'm wrong - I don't know how Bitcoin works - but this shouldn't
impact prices. At least, it wouldn't matter with currency trading. You can
offer $.02 per Euro all day, and you'll just be ignored with no impact.

If this is not the case with Bitcoin, something is seriously wrong on a very
basic head-smackingly obvious way.

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ponyous
Somebody had multiple bots, which were selling and buying at same time.
Everyone ignored them, but they still boosted price up since "last trade" was
always higher because of this micro transaction manipulations caused by bots.

