Bitcoin Forum

del.

WTF was that? Looks like just an error from the coinbase itself. Assuming there were a hundred thousands if bitcoin gets dumped on coinbase.

I can't believe if there some people be able to buy hundred of btc at that price.
It's could be just a problem from the coinbase itself.

In this time there is no press has made a publication about that thing. I think the dip is fake.

BTC Soap bubble burst!
https://tradeblock.com/markets/base/xbt-usd/1h/
This is Signal Sell all Btc 2013 is coming

Probably just a glitch. A week or two ago Coinmarketcap was claiming Bitcoin was at $1500-1525 for a couple minutes. :-)

No sign of trouble here: https://coinmarketcap.com/currencies/bitcoin/#markets

Is this real? What happen with bitcoin?  Who are lucky people can buy BTC @ 0.06 USD? May be he/she will become rich soon if bought alot BTC at that price.

I think it just an error, I just checked in other place it looks fine and still got excellent value, it is impossible bitcoin price will suddenly drop like that, we still got a lot of loyal bitcoin user and a lot people who willing to invest some of their money for bitcoin

Just a lie, an attempt to troll and scare people causing chaos, but idiots must be idiots otherwise you couldn't call them idiots lol.
Don't you guys fall for it and dump your coins, well you couldn't even if you wanted because there are big buy walls above $1100.
BU has 40% of the support now and SW has 28% even though F2pool is signaling SW.
Even if they hard fork the blockchain price wouldn't go below $500 I can promise you that.

How you think whether sale could be one orders?

You are talking nonsense, wtf do you mean sale could be one orders? that one and that s makes it confusing, no one is stupid enough to dump down the buy orders, I bet there are bots programmed to buy at $500 even if the volume is more than 200k bitcoins, someone with large amounts of Bitcoins is not a stupid person and even if by some miracle they are they at least know to dump in 10+ exchanges and not just 1or2.

I'm sure there are people setting their bots to buy at $100 per coin even if the volume was 2m BTCs.
It could've been a hacked bot or a fatal error of a bot to dump and that's very fortunate for buyers and very unfortunate for seller.

I'd advise to return them back if it was some kind of error/mistake because that kind of money will only cause cancer if you know what I mean.

What are you even stating? BitcoinWisdom is lying?
If you go to BitcoinWisdom.com you could see the chart for yourself and notice the major dump that the OP is writing about,


It might be an error on Coinbase it's either that or there isn't as much people using Coinbase as we think and they are just trying to manipulate the price.

The current Bitcoin price is $1177.92 :)

You could check it in:
http://coinmarketcap.com (http://coinmarketcap.com)

I guess that's just some bug or an error to the site.

...

Has to be a glitch/error/hack of some sort.  Every time today I have looked at the price of BTC, it has been in the $1180 - $1195 range.

No way did BTC price go down to 6 cents.  That would have been the world's most epic flash-crash, losing 99.995% or so of its value in minutes.

bitcoinwisdom's api is known to do some stuff like this, and they are just bugs because of errors that happen in their connection to the exchange api (coinbase may have given wrong data) or in the calculations the bot makes.
and this is nothing new. first big one but not new.
go visit coinbase directly to see what i am talking about.

I really do think that this graph is just an result of an bug on the website and in coinbase it self.If this was then real why people will sell a bitcoina at 0.06$ where bitcoins is sitting at $1200 mark on this hours.This is just a pure glitch or bug

It is not an epic dump,it is just an epic bump in the form of a glitch and nothing else,either someone made a mess with it as there is no way someone is going to sell when the market is above $1200.You really cannot determine the price of bitcoin with a stupid sell order of one single coin. :P

You can't be serious.
You don't have to post meaningless things within this thread to increase your post count.

Did you even visit Coinbase and look at the chart? Although I agree with you that BitcoinWisdom sometimes has its errors and some data isn't 100 % accurate -this just isn't the same situation.
If you want the proof then here's the website for more accurate information rather than just using BitcoinWisdom.


The price goes down to 0.06 as you can see in the picture.

i made the part you missed into bold. please read my comment again.
and i don't need to visit coinbase to know the dip to 0.06 USD is a bug. since (as i said) this is not the first time.

and if you look at the volume the volume doesn't even show such a dip. you know there is resistance in going down.

I couldn't find how many bitcoins were sold for that price? why wasn't I there at that exact time :D you know it also could be someone trading to himself.
And coinbase is in a hang state right now I think they've been hacked or something? could the hacker dump? but why would they? maybe they could only change inside of the exchange?

dude this is bitcoin and this is a big bitcoin exchange we are talking about! not a random shitcoin on a random small exchange!
even a dump to that low needs an unbelievable amount of bitcoin, because apart from current existing buy orders there will be lots more buy orders set when the price moves through bots that are watching the market.

and if you check the volume it has been less than other days! it is showing 3972BTC while last day was 5663BTC. if you believe with 4K bitcoin you can dump the price back to 0.06 then you must check some resistances next time.

p.s. https://www.gdax.com/trade/BTC-USD can be opened easily, you must be having some internet issues.

This topic made me shocked, but I checked and bitcoin has te same high price as before. So it probably was a mistake in the programm or maybe even a hackers' attackt. Now I am wander are there people who could buy bitcoin by such cheap price? If someone could, please write here.

I understand what you're stating, what makes you think that this is a bug in the Coinbase API this time?
There could be one person/group with a bunch of coins that made up the numbers within the order book and he decided to take them down for some time to change the chart information so people would invest more fiat in the Coinbase website.
Where is the proof? Or are you just going to speculate? I am just stating that the chart for Coinbase isn’t just making up numbers the price really did dump if you look at the chart closely.

why is it hard for you to accept it was a bug, not the first time, and coinbase always does these things.
here is another smaller but the same bug not so long ago and no surprise that it was coinbase that had this bug in their API:
$1050 2min flash dump anomaly (https://bitcointalk.org/index.php?topic=1817119.0;all)
http://oi64.tinypic.com/2qwf0oi.jpg

coinbase/gdax is a fucked up platform, that is all there is to say.

and by the way those who are saying it was legit dump to $0.06 have to prove the rest of us by showing the orders that were filled at that price not what the chart shows.

The thread  (https://bitcointalk.org/index.php?topic=1817119.0;all)that you linked didn't prove that it was a bug. I am interested in viewing the Coinbase article or a screenshot of their email stating that the price drop on March 7, 2017 was a bug. Coinbase would warn the people that are using their website about things like that since large amounts of money is involved within their Company.


I agree that the whole GDAX situation is weird though the chart is what we see right now (unless Coinbase receives the proof that it's a bug or they announce the website bug to the public).

I think this is just an error the coinbase site because if this is true then a lot of people in that site will be reach because they got bitcoin for just 0.06 and sell it for the current price now. I think if that is true then the news will be all around the internet and not only here so i doubt that it is true that bitcoin legit dump to 0.06 USD.

with all the bots there are there error like this can happen, some of those bots can trade with virtually instantly and soem times some order are made with almost no volume

this is not the firstcase that soemthing like this happen, well not that drastic, but ti did happen when bitcoin was at $400 and returned for a second to $150

Probably a glitch in the map. It's a disadvantage of being all automatic, there was a similar incident sine months ago on coinmarketcap graphs also. So before believing something​ like that, just get a confirmation first.
And it was just for a second or two I guess so no one else noticed.

But could anyone buy those coins for 0.1USD?

I really do think that it is just a bug from coinbase not really a dump. If that happened though, if there was someone who bought it the moment this bug happened and when it passed is a lucky man and I think he/they who bought at that price was so lucky they might be rich now but I think no one have bought at that time maybe coinbase fixed it asap then those orders fullfilled at that time is reversed I think.

Coinbase has a trading volume of about $4,000,000 in the last 24 hours, for Bitcoin (https://coinmarketcap.com/exchanges/gdax/).  It's basically impossible for anyone to make the price drop that low and if they did, they would spread it across several exchanges because doing that would make them lose all of their money.  The only realistic prospect here is a glitch, I'm sure it'll be sorted out.

It isn't impossible though I do see your point. It's would be pretty though to make the price go that low without having the media involved and a bunch of people posting how they made a bunch of money within a couple of minutes.
A person that has the right strategy with Bitcoin Exchange trading wouldn't need to have money spread across each Bitcoin Exchange -they only need to use a single exchange in order to make the price decline to 0.06.
Plus there's a bunch of people bailing out of Coinbase because of the regulation thing so who really knows what's going on behind the scenes.

GDAX froze trading and closed the book for maintenance. They than want back online and allowed people to use their "market" sell feature (basically just dumps the coins) before the order book had time to populate again. About 113 BTC were dumped, mostly at about 900-1050 USD. So it was just a case of Stupid McFatFinger meets poorly managed exchange. Nothing epic and definitely not enough volume to even be recorded as a true historical price.

Yeah, actually my friend told me that all sites place bitcoin price around 1150-1200$ levels, when Coinmarketcap has been showing 1500$ USD per bitcoin :)

I cannot believe that 1 bitcoin for 0.06$ is not a glitch, nobody would sell such a valuable asset as a bitcoin, for basically nothing ( 0.06$ ).
There is also no possibility that it was just some kind of a order that is activating during a special occasion, because even in 2011 bitcoin was worth more than only 6 cents.

It looks like some kind of glitch/bug for me, I would highly doubt that someone did it by purpose, it also could be a typo made by the guy who sold them.

Probably an error of a script a glitch or a hack, bitcoin looks good everywhere else, besides even if a crash happened the crash cannot be instantaneous it will take some time, probably some days or even weeks it cannot be a thing of seconds.