So rumors abound around the internet as to what happened with the cryptocurrency Bitcion. It seems that as prices soared yesterday a generous soul gave away over $13,000 USD worth of BTC on Reddit in tips.
It appears as if some of the tips were large enough to make the greedy want to sell and if someone handed me $2000 of digital money I might want to change it into fiat or 'real' money also. So between the rush to 'join the club' and the chance to get some 'free money' Mt.Gox, the largest Bitcoin exchange, experienced severe lag. That, in turn, caused a panic sale and crashed their servers.
"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."
Given all that, what happens next could be very interesting or at least entertaining.