The Bitcoin Thread

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eg2505 said:
it has to be an attack, what else could make the errors we saw trigger?
I sure they must have something built into the app that reads the status constantly.
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Well, doubt attack like a ddos as site was fine, just their 'feed' to the site(us) was not working. I'm thinking something died on their side /shrug
 
eg2505 said:
no I just curious as to what happened, dont think that is a crime?
also a few people want to know, not just me....
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Not the conspiracy theory part, the part where you think it is impossible for it to drop that much that fast. Ether had an incident like this in August where it lost almost all its value on that exchange in seconds. Granted they didn't have safety mechanisms built in to stop all the stop losses from triggering but something similar could've happened here ("could have" as in anything is possible).

Example: BTC spikes on Luno to R177k and somebody makes a HUGE sale to cash in. Naturally the price drops so somebody else sells there and so forth. The system could get overloaded with all the transfers happening or maybe something kick in to stop a crash.

...or the site just threw a Takealot and crashed.

Point is, these things can lose a lot of value very quickly
 
Temujin said:
Well, doubt attack like a ddos as site was fine, just their 'feed' to the site(us) was not working. I'm thinking something died on their side /shrug
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what about the cloudflare errors? on trying to get in?

i mean it makes sense the longer you look at it,

wont be surprised mybb Kevin checking into this dip, as it was quite drastic and unexpected.
 
eg2505 said:
what about the cloudflare errors? on trying to get in?

i mean it makes sense the longer you look at it,

wont be surprised mybb Kevin checking into this dip, as it was quite drastic and unexpected.
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No it wasn't and no it doesn't.
 
Hamster said:
Not the conspiracy theory part, the part where you think it is impossible for it to drop that much that fast. Ether had an incident like this in August where it lost almost all its value on that exchange in seconds. Granted they didn't have safety mechanisms built in to stop all the stop losses from triggering but something similar could've happened here ("could have" as in anything is possible).

Example: BTC spikes on Luno to R177k and somebody makes a HUGE sale to cash in. Naturally the price drops so somebody else sells there and so forth. The system could get overloaded with all the transfers happening or maybe something kick in to stop a crash.

...or the site just threw a Takealot and crashed.

Point is, these things can lose a lot of value very quickly
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no I get what you saying,

I thought I was the next bill gates when USD kraken price briefly showed BTC at 1 Billion, yes BILLION USD
(have the screenshots to prove it). and never got a straight answer as to why?

thing is if cyber currency is going to be any kind of success and not just another idea used by geeks and nerds,
it has to NEVER do things like that, or if it does, these is a damm good reason for that to happen.

so I immediately thought attack, as why did the site halt withdrawals? like some sort of protection mechanism got tripped?

I get it, it drops and jumps like a wild animal, but blocking withdrawals? why exactly?
 
eg2505 said:
what about the cloudflare errors? on trying to get in?

i mean it makes sense the longer you look at it,

wont be surprised mybb Kevin checking into this dip, as it was quite drastic and unexpected.
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Cloudflare happened just before it came back on(like 1min before), rest of the time was fine, just no feed, so it was only 'turning it off and on again' that caused cloudflare errors, its the hour or so before the cloudflare errors when site was working, but no updates that I want to know about
 
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There's a lot of money changing hands now. I didn't know that there are so many people that buy/sell Bitcoin but don't have a clue about trading.
 
I can't decide if I want to go back in BTC, or re-invest in ETH instead. Thinking maybe jumping back in at R150K if it goes that low, or just dumping into ETH an see where it goes.
 
srothman said:
I can't decide if I want to go back in BTC, or re-invest in ETH instead. Thinking maybe jumping back in at R150K if it goes that low, or just dumping into ETH an see where it goes.
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BTC will have a massive leap in a couple of weeks
 
How certain can we be that there will even be a correction? Bitcoin is defying the odds.
 
Grimspoon said:
How certain can we be that there will even be a correction? Bitcoin is defying the odds.
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Festive season will push the price up again, just like thanksgiving did. Plus people generally have more disposable income and time over December. I rate a correction is due in Jan2018.
 
Tman* said:
Festive season will push the price up again, just like thanksgiving did. Plus people generally have more disposable income and time over December. I rate a correction is due in Jan2018.
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Fair points. I guess we will just have to wait and see.
 
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