Bitcoin's roller-coaster price swings on Wednesday were caused by an influx of new buyers and software that couldn't keep up, according to the largest exchange, Mt. Gox.
People trading bitcoin on the Tokyo-based exchange saw its price hit US$266 at one point, then fall to as low as $105 with high lag times for trades. The surge in interest in bitcoin has overwhelmed Mt. Gox...
"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees
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