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Bitcoin Crashed From $17 to $0.01 14 Years Ago Today
Crypto Trends

Bitcoin Crashed From $17 to $0.01 14 Years Ago Today

by admin June 19, 2025


  • Turning $100 worth of Bitcoin into $1.4 billion
  • Mt. Gox completes payouts to creditors

On June 19, 2011, exactly 14 years ago, Bitcoin experienced a massive flash crash as it collapsed from $17 to below $0.01 level as a tremendous sell-off took place on the Mt.Gox crypto exchange, now a defunct one. This reminder was published by the popular crypto YouTuber Lark Davis on his X account.

Turning $100 worth of Bitcoin into $1.4 billion

This sell-off, which took Bitcoin a staggering 100% down the price scale, proved to be the result of a software glitch on the aforementioned trading platform. It allowed them to sell Bitcoin at negative prices and eventually caused a temporary market collapse.

Davis said that that historical flash crash gave a chance to crypto enthusiasts to get rich – if anyone had bought BTC at $0.01 for $100, by now it would cost already a staggering $1.4 billion. That would constitute a surge of 1,400,000,000%.

On this day, exactly 14 years ago, Bitcoin flash crashed from $17 to below $0.01

If you’d bought $100 of $BTC during the crash, it’d be worth $1.4 billion today. 🤯pic.twitter.com/p9lqrdUSFO

— Lark Davis (@TheCryptoLark) June 19, 2025

Similar growth is often experienced by owners of dormant wallets when they suddenly reactivate them. Whale Alert often reports that blockchain addresses that held BTC between ten and fifteen years see a massive price surge of their long-held Bitcoin and see their a few hundreds or thousands of dollars turn into millions of USD.

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Mt. Gox completes payouts to creditors

In February 2014, Mt. Gox, the largest Bitcoin exchange at that time, lost almost 850,000 BTC to a hackers. It constituted roughly 7% of all Bitcoin in circulation back then and it was worth approximately $450 million.

The hack was attributed to a vulnerability in the wallet exploited by the hackers, who managed to made consecutive Bitcoin withdrawals unnoticed. This lead to the bankruptcy of the exchange. Part of the losses was compensated to the creditors during the period of ten years. However, in 2024, approximately 200,000 BTC were found in a “forgotten” wallet which hackers did not drain out in 2014.

Repayments started off in July last year, while the trustee, Nobuaki Kobayashi was supervising the Bitcoin distribution. Creditors just got a partial recovery of Bitcoins they lost. As reported by U.Today, in late March, Mt. Gox transferred approximately $1 billion worth of Bitcoin. Another large amount of BTC was moved by the now defunct exchange in December 2024. The payouts seem to be over as of now.





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June 19, 2025 0 comments
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Dogecoin
GameFi Guides

Here’s Why The Dogecoin And Shiba Inu Price Crashed Over 10%

by admin June 14, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Dogecoin and Shiba Inu prices have recorded significant losses this week, sparking a bearish sentiment towards the top meme coins. This price crash has come amid geopolitical tensions in the Middle East between Israel and Iran. 

Why The Dogecoin And Shiba Inu Price Crashed

CoinMarketCap data shows that the Dogecoin and Shiba Inu prices have recorded significant losses over the last seven days. The price decline largely occurred on June 13 following Israel’s attack on Iran, which again escalated tensions in the Middle East. This development immediately sparked fear across the markets, sending the top meme coins spiralling.

The market further took a hit on the same day with Iran’s retaliatory strikes against Israel. Since then, both countries have continued to exchange fire, with blasts heard in Jerusalem and Tel Aviv. This has raised concerns that it could escalate into a full-blown war, which is bearish for the Dogecoin and Shiba Inu prices. 

Moreover, Oil prices are skyrocketing as a result of the Israel-Iran tensions, which is also bearish for the top meme coins. Rising oil prices can cause inflation to rise, which will force the US Federal Reserve to either keep interest rates steady or even raise them. This Quantitative Tightening (QT) measure restricts liquidity flow and could negatively impact the Dogecoin and Shiba Inu prices. 

Amid this price crash, Coinglass data shows that Dogecoin’s open interest has dropped by over 2% to $1.78 billion. This is bringing the meme coin close to its December 2024 lows when it crashed from its local high of $0.45. DOGE’s derivative trading volume has also crashed 37%, indicating a lack of interest in the meme coin among crypto traders. Most traders are also shorting Dogecoin at the moment, with the long-to-short ratio at 0.9.  

CoinGlass data also paints a bearish picture for the Shiba Inu price. SHIB’s derivatives trading volume has crashed over 38% to $173 million. The long-to-short ratio is at 0.9, indicating that most traders are shorting the meme coin. However, the open interest is up almost 1% to $142 million, which is a positive for Shiba Inu. 

DOGE And SHIB Could Reverse From Current Levels

Crypto analyst Trader Tardigrade suggested that Dogecoin may have bottomed at its current price level. In an X post, he stated that the meme coin reached the end of wave 4 corrective move, just before a huge move in wave 5. His accompanying chart showed that DOGE could rally above $0.65 on this move as it eyes a new all-time high (ATH). 

Meanwhile, crypto analyst InvestingHaven recently made a case for the Shiba Inu price. In an X post, he noted that SHIB held its ultra-strong $0.000012345 level during key time windows, which aligns with the forecasted annual lows at $0.0000133. The analyst added that the chart now shows signs of a potential W-reversal and that a successful W-reversal could send SHIB to around $0.0000666.

DOGE trading at $0.17 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from Shutterstock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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June 14, 2025 0 comments
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The Plane That Crashed Yesterday Was the Same One a Dead Boeing Whistleblower Warned About
Product Reviews

The Plane That Crashed Yesterday Was the Same One a Dead Boeing Whistleblower Warned About

by admin June 13, 2025


Last year, a former quality manager at Boeing warned that the factory that made the 787 Dreamliner—one of the company’s newer models of airplane—was plagued by shoddy work practices and poor oversight. John Barnett, who had worked for the airplane manufacturer for many years before becoming one of its most outspoken critics, said that Boeing was building the planes with ‘sub-standard’ parts and that its mandate of speed and efficiency was endangering lives. Barnett, who refused to fly on the Dreamliner, was also involved in a legal dispute with the company at the time that he died of an apparent suicide.

Yesterday, the plane that Barnett had warned regulators about crashed in Ahmedabad, India, killing all but one of the passengers. The worst aviation disaster in recent memory, the crash has spurred fresh scrutiny of its controversy-plagued manufacturer. While it will take months to understand what actually caused the crash, if the source of the disaster ends up being a vulnerability in the plane’s technical design, it won’t be particularly surprising. Barnett, whose death sparked conspiracy theories due to his involvement in the legal case against his former employer, was one of a long list of critics who have long expressed concern about the company’s manufacturing practices.

The 787 was launched in 2011, with one of the advertised benefits being that Boeing could manufacture the aircraft more cheaply than its previous models. However, from the get-go, the plane was ridiculed for having an overly complicated assembly process. One critic, writing in 2013, noted that the plane was put together through a convoluted network of contractors, some of whom offered limited transparency. Another aviation commentator said that it was as if Boeing had said “F*ck it. Let’s throw out everything we’ve ever known or used in airplane production and use this new, unproven method.” Critics noted that the company had outsourced too many parts to too many different contractors and that there was a risk that all of those components might not properly fit together when the craft was finally assembled.

Upon launch, the plane was almost immediately plagued by technical problems. In 2013, a series of battery-related fires in aircraft cabins caused the FAA to ground all of the 787s in the U.S. until the safety issues could be resolved. In 2015, the U.S. air safety authority discovered a software bug in the plane’s generator-control units that could hypothetically lead to a “loss of control” by the plane’s pilots. The plane also suffered from fuel leaks and other issues.

In 2019, the New York Times reported for the first time on the South Carolina plant where the Dreamliner was manufactured, noting that it was alleged to be “plagued by shoddy production and weak oversight that have threatened to compromise safety.” Barnett—who, by that time, had already left the company—was quoted heavily in the article, saying that he hadn’t “seen a plane [come] out of Charleston yet that I’d put my name on saying it’s safe and airworthy.”

After Barnett’s death, another whistleblower who had formerly served as an engineer at Boeing, Sam Salehpour, claimed that deficiencies in the way the 787 was assembled could cause the aircraft to “break apart” in midair. Salehpour went on to testify about the issues in front of Congress, accusing his former company of being involved in a “criminal cover-up.” He also implied something could “happen” to him as a result of his outspoken criticism. Around the same time, other Boeing whistleblowers emerged from the woodwork to offer similar critiques of the airplane manufacturer, another of whom died. That spring, Boeing also admitted to falsifying documents about the 787, communicating to the FAA that it “may not have completed required inspections to confirm adequate bonding and grounding where the wings join the fuselage” and that other misconduct may have occurred at the company.

Boeing did not return a request for comment.



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June 13, 2025 0 comments
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Ideapad3i
Product Reviews

Lenovo’s Top Chromebook Just Crashed to Its Best Price of 2025, Memorial Day Exclusive on Amazon

by admin May 26, 2025


If you’re looking to buy a new laptop, here’s some important advice: you don’t need the best and the brightest. You don’t need the newest model. You don’t need the most expensive one, either. You can get along just fine with lower specs at a lower price point. Because you probably don’t need all the best specs or anything like that, especially if you aren’t using your computer for intensive tasks. In fact, you can use a computer you can get at an affordable price and you should have all that you need.

See at Amazon

You can head to Amazon right now to get a computer that should tick all the boxes you’re looking for. Plus, it’s under $200, which is a steal. You can get the Lenovo IdeaPad 3i Chromebook for just $179 right now at Amazon, down from its usual price of $290. That’s $111 off and a discount of 38%.

A capable computer at a cheap price

If you tend to spend most of your time on the computer streaming video, taking classes or meetings, and working in Google Docs or Sheets, a Chromebook like this is easy and simple to set up. The IdeaPad 3i runs on Chrome OS, which is lightweight, easy to use, and designed to get you from power-on to productivity in seconds.

Under the hood, it’s powered by an Intel Celeron N4500 processor with 4GB of RAM and 64GB of eMMC storage. That’s not a power machine by any means, but for a Chromebook, that’s enough to get you through the workday or keep you doing whatever it is you normally work on or play during your normal routine.

You should get decent battery life out of your new Chromebook, too. Chrome OS is very power-efficient, and the IdeaPad 3i holds a charge long enough to get you from work to leisure time. It’s also lightweight and slim, so it’s easy to slide into a backpack or tote bag on the go. You really could just slide it into a purse or something if you need

There’s no shortage of ports, either. You’ll find multiple USB connections and even a microSD slot for expandable storage, which is handy for offloading photos, assignments, or extra files.

For less than $200, this laptop really can’t be beaten. It’s perfect for students, anyone who wants a low-maintenance, everyday computer, or even writers and other folks who don’t have media-intensive tasks to do at work. . It’s not trying to be a gaming rig or a video editing powerhouse, but it is focused on being fast, simple, and affordable. And for a lot of people that’ll be exactly what they need.

See at Amazon



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May 26, 2025 0 comments
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