Hacker News Reader

And maybe the 5k seller wasn't even trying to game the system. He/she just wanted to get out.

Imagine a hedge fund with an order of magnitude more monetary mass trying to provoke those kind of sell offs and benefit from them.

View on HN

It totally stands within reason that until it has wide spread adoption and regular people stop caring about what the exact exchange rate is that we will see large runs like that. As I stated, we have several people (myself included) invested to make money and take care of an investment, not to use a daily currency.

...this is exactly why it will fail.

No. There were already massive amounts of people exiting the market in 2011 (price went down from $30 to $2 in 6 months) yet Bitcoin did not fail.

Reply on news.ycombinator.com