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Message
re: Goxpocalypse Part Deux
Posted on 4/12/13 at 12:29 am to el duderino III
Posted on 4/12/13 at 12:29 am to el duderino III
quote:
someone want to summarize what the heck happened today? hack/news or just another DDOS attack?
Oh well where to start.
Yesterday:
-Price surges to all time highs of $266.
-Mt. Gox is flushed with sign ups. Their servers can't take the increases in activity. Trade lag bottoms the market out and prices drop like a rock.
-The market begins to stabilize, but Mt. Gox is faced with a DDoS attack. After coming back online the price is falling again and the action stresses their servers again
This morning:
- Mt Gox announces that they are suspending services until 10 PM ET.
- The price continues to fall on other trading firms into the $60-90 range.
- The speculation is that once Mt Gox reopens their last price of $130 will plummet.
10 PM ET:
- Mt Gox reopens to an insane amount of traffic. Trade lag is past 10 minutes
- Within 5 minutes price falls from $130 to $65.
- Within 10 minutes of that, the price rises to $135.
- The price starts to slide until it normalizes around $90-100.
Tonight at 11 PM ET
- Mt Gox is DDoS'd again
- Massive (Hundred thousand) amounts of bitcoin are being transferred into a specific wallet
- Mt Gox is still down.
- We have no idea what's going on.
2
Posted on 4/12/13 at 12:32 am to joshnorris14
well at least bitcoin isn't a boring subject to follow
Posted on 4/12/13 at 12:39 am to joshnorris14
Woohoo the MtGox party is back alive! 
Posted on 4/12/13 at 12:41 am to el duderino III
Mt Gox is back online.
Posted on 4/12/13 at 12:49 am to joshnorris14
The new speculation is that Sven Olaf Kamphuis is behind the DDoS attacks.
Posted on 4/12/13 at 12:49 am to joshnorris14
I do like this little tidbit on the Mt. Gox homepage
quote:
We're always on. Buy and sell Bitcoin 24/7/365 with the world's most sophisticated trading platform.
Posted on 4/12/13 at 12:51 am to joshnorris14
Mr. eyebrows himself?
Posted on 4/12/13 at 12:52 am to JohnnyKilroy
The jokes on reddit have been great.
quote:
I'm thinking about making an app that alerts you when Gox isn't down.
Posted on 4/12/13 at 3:16 am to joshnorris14
quote:
Thanks though.
Maaaaan, I love watching you 2 debate.
it's most cool sensing the underlying respect you 2 have, even when you don't spell it out so others may see..
to both of you.. And wiki too.. 
Posted on 4/12/13 at 6:39 am to PhifeDogg
quote:
Massive (Hundred thousand) amounts of bitcoin are being transferred into a specific wallet
Wait, it got attacked AGAIN?
I thought Bitcoins were safe
Today is going to be fun to watch on here
This post was edited on 4/12/13 at 6:40 am
Posted on 4/12/13 at 6:54 am to Lsut81
The price just dropped below $75 at 6:50CDT. I wonder how much the person paid for the 100,000 bitcoins. Can't be feeling too good right now.
Posted on 4/12/13 at 6:56 am to Poodlebrain
quote:
I wonder how much the person paid for the 100,000 bitcoins. Can't be feeling too good right now.
I took that statement to mean that 100k were hacked and put into a specific wallet, not purchased
Posted on 4/12/13 at 7:25 am to Lsut81
quote:You'd think he would have been selling overnight to convert to something more stable. Bitcoins now trading at $60 on Mt.Gox.
took that statement to mean that 100k were hacked and put into a specific wallet, not purchased
Posted on 4/12/13 at 7:42 am to Poodlebrain
quote:
Bitcoins now trading at $60 on Mt.Gox.
$57
This is crazier than the Chicago Futures Pits. Russian, You wanna meet at the the Bull, Mother fricker?
Posted on 4/12/13 at 7:46 am to Poodlebrain
quote:Gox down again. Last trade was $63 before it stopped trading.
Bitcoins now trading at $60 on Mt.Gox.
Posted on 4/12/13 at 8:06 am to LSURussian
Bottom is about to fall out of this thing.
It IS being manipulated. There is ZERO doubt in my mind about it.
There are no regulatory agencies overseeing any of this crap although the Treasury/DOJ (and by extension FinCEN) have stated they have jurisdiction due to the bank secrecy act.
It will be interesting to see how it plays out. I personally believe the exchange being discussed is being manipulated by interested parties.
It IS being manipulated. There is ZERO doubt in my mind about it.
There are no regulatory agencies overseeing any of this crap although the Treasury/DOJ (and by extension FinCEN) have stated they have jurisdiction due to the bank secrecy act.
It will be interesting to see how it plays out. I personally believe the exchange being discussed is being manipulated by interested parties.
Posted on 4/12/13 at 8:09 am to Tiger n Miami AU83
quote:Same here. It's very obvious.
It IS being manipulated. There is ZERO doubt in my mind about it.
If you go to this site ( LINK), which is a btc exchange site, there is a scrolling message board on the right hand side of the trading screen. The comments by the btc believers are very revealing about the mentality of those persons putting their money at risk in btc. And occasionally a comment will make me
.Posted on 4/12/13 at 8:10 am to Tiger n Miami AU83
quote:
Bottom is about to fall out of this thing.
One can only hope, so that we don't have to hear about Bitcoins every day of the week from the sunshine pumpers who own a collective 1.3 bit coins.
Posted on 4/12/13 at 8:18 am to Lsut81
quote:I don't think it will happen soon but it will eventually.
Bottom is about to fall out of this thing.
From reading the comments on the trading site's message board I linked to above, it is obvious there are btc True Believers who will buy btc no matter what. Bitcoin trading is so thin that just a few people with insignificant amounts of money can move the market a significant amount at any given time.
It's a Ponzi scheme where the victims don't care it's a Ponzi scheme. And for that I tip my hat to the developers of btc for discovering a market niche of truly stupid "investors."
This post was edited on 4/12/13 at 8:19 am
Posted on 4/12/13 at 8:48 am to LSURussian
TOKYO - JAPAN - April 11, 2013
Hi everyone, just a quick update on the situation and what happened last night.
First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success!
Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine!
To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed tripled in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have roughly 20,000 new accounts created each day.
Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance.
Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system.
Thank you for your understanding and continuous support!
Regards
Mt.Gox Co. Ltd Team.
Mt.Gox Contact press@mtgox.com
Hi everyone, just a quick update on the situation and what happened last night.
First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success!
Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine!
To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed tripled in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days of April! We now have roughly 20,000 new accounts created each day.
Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance.
Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system.
Thank you for your understanding and continuous support!
Regards
Mt.Gox Co. Ltd Team.
Mt.Gox Contact press@mtgox.com
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