How a mere Twitter hack cause the DOW to drop

[Laize]

SEA isn't even based out of Syria anymore. But as pointed out, people do buy in on these situations quite frequently, and I'm willing to bet there are financial gains here.

Just as there was when BTC was crashing.

I made a small fortune on BTC. I haven't even paid attention to it after it hit $80 and I sold it all. What's this about a crash?

[Deleted]

The hackers were supposedly from Syria. Not sure how much they made (if anything).

The hackers aren't important. What's important is if unusual trading activity was executed prior to the launch of the rumor and the DOW drop. If they were syrians using international brokers, atleast they can shut down their accounts.

---------- Post added 2013-04-24 at 07:22 PM ----------

I made a small fortune on BTC. I haven't even paid attention to it after it hit $80 and I sold it all. What's this about a crash?

You're kidding me right?

[Kelesti]

I made a small fortune on BTC. I haven't even paid attention to it after it hit $80 and I sold it all. What's this about a crash?

Last week, some of the exchanges went down. BTC dropped in value by over 50%. Turns out it was a few script kiddies that decided to start DDoS'ing some of the exchanges to tank the value, which in turn spreads fear throughout Twitter, which in turn follows through on actual said tanking of value.

Then everything went back up, and hey look. Profit. Capitalism, working as intended.

[Masark]

I made a small fortune on BTC. I haven't even paid attention to it after it hit $80 and I sold it all. What's this about a crash?

MtGox got DDOSed, people panicked, price dropped dropped from $250-ish to $70-ish over the next week. Over the last 2 weeks since, it's come back up to about $150-ish.

[Porcell]

I made a small fortune on BTC. I haven't even paid attention to it after it hit $80 and I sold it all. What's this about a crash?

Was climbing past 100 up through 180 steady throughout the week (like 3 weeks ago), and then spiked to like $245 per BTC before crashing to $105 and settling out at $120, then dropping over the next several days to a low of around 70. It has since climbed back up to around $150 today.

[Deleted]

Bitcoins are really fundamentally a terrible investment, unless you're buying with the intent to trade on the black/gray market (e.g. buying contraband). Sort of like the tulip mania, you can make some money if you play your behavioral finance theories correctly, but it's probably not worth the risk.

[Masark]

Bitcoins are really fundamentally a terrible investment, unless you're buying with the intent to trade on the black/gray market (e.g. buying contraband).

It is handy for moving moderate amounts of money internationally and avoid assholes like payfoe, et al.

[Deleted]

i cant help thinking some ass made huge profits in this.

[Deleted]

It is handy for moving moderate amounts of money internationally and avoid assholes like payfoe, et al.

Yeah, if you're purchasing it for other than speculative purposes it's fine.

[imabanana]

Ysilla is confusing efficiency with rationality when the two are almost completely unrelated.

This made me laugh (again). (did you read my last post on this ?)

[Sagittaria]

These automated trading is really out of control. Should have a 1 second GCD on share trading IMO.

[Deleted]

These automated trading is really out of control. Should have a 1 second GCD on share trading IMO.

Algorithmic trading caused a stock (small cap) to go from $10 to $0 to $10 in a timespan of 11 seconds today. I wouldn't say it's out of control, but very disruptive.


Full picture at nanex, original was kinda large.

[FiveDkp]

Hint - the market is driven by expectations.

This shouldn't be any surprise that such information as a president being hurt could affect the stock market.