Incredible video covering the June 19, 2011 BTC flash crash to $0.01

Check out this video called "Bitcoin flash crash 2011" by Lark Davis. It’s a must-watch for anyone studying economics or investing, seriously. Every single one of its 429 seconds is worth your time because it shows how history tends to repeat itself. No extra comments needed. The only downside is that this crash wasn’t completely a natural market thing; it was actually triggered by a hacker.

Crashes happen very quickly and after liquidations on the market done their task to kill over leveraged positions, and get money from gamblers to make exchanges and market maker richer, the market will recover well after that. People who care about price changes in very short time like several seconds, minutes will self-make their lives harder as the market basically is unpredictable while its volatility as we all know is high. Focusing on short term volatility of the market is time consuming, and finding chance to get profit from short term volatility is very stressful. We would rather stay away from short term volatility, price prediction for profit as we will mostly fail with most of our times trying do to that. Market has many changes over years since 2009 or more accurately to say since October 2009 when Bitcoin was traded on exchange a first time https://bitcoin.zorinaq.com/price/ We will see no crash if simply looking at this yearly chart and only easily see its very good price growth with past years. https://www.coinglass.com/pro/i/yearly-candlestick-chart

Maybe you can share what possible scenarios could happen, at which people will immediately connect the crash with this video/situation? As far as I'm aware, we do have glitches like this on multiple exchanges already, not sure if there's anything new there. If we're not talking about a platform glitch or manipulation, and look at the bear/bull fight, the chance the crash comes down to $1 is quite low, no? I feel like this info has become common sense nowadays.

So where is the video? I am just seeing an article. According to the article, the flash crash was probably due to two factors 1. Massive sell off due to the Mt Gox hack 2. A software glitch purported used by the hacker I got this from Wikipedia

Good 'ol days. Now, even recently, I remember a few years ago, especially when there are some exchanges involved, like hacks, the price of Bitcoin is still affected, as we can see a massive sell-off too. I am curious, like in the future, let's say Bitcoin will have more market like will 10x, so are we still expecting massive sell-offs for these kinds of incidents?

More information about Mt.Gox hack. Hacked exchanges since 2011 Exchange graveyard. Bitcointalk history of MtGox and how a Bitcointalk post caught the MtGox hacker. This is a very informative thread about Mt.Gox but it is worth reading time with people who want to know more about one of most famous Bitcoin exchange and exchange hack in Bitcoin history.

But the recent largest crypto exchange hacks (by value in USD) did not really move the market that much like back in the day. In case of any hacks in future, I don't think we shall see bitcoin move by lets say 80-90% in a day because the circulating supply is spread across exchanges unlike those days when Mt.Gox had the biggest percentage of BTC If a big flash crash is to happen, it will just be on one exchange and will probably correct in a few seconds.

Always ready to buy the crash, but I think it evolved much from there to repeat something like this again.

Another flash crash story from January 14, 2018 - EHT fell to 0.002usd/ETH in OKEX https://bitcointalk.org/index.php?topic=3211574.0 The value of money in the right time and place is huge.

What would you call exchanges these days? They are also hackers as they know our position and stoplosses and they move market in a direction that liquidate most of the traders. These are modern day hackers that play with our money. Back then in 2011 it was easy to move the market and it is still even now easy for the whales to manipulate. The retailers always find the reason and news for market crashes while these manipulators use suh news / event to move the market in their direction by creating so much hype or fear in the market.

The flashcrash is actually an opportunity if I know Bitcoin at that time. Having some Bitcoin at $0.01 with $10, you already have 100 BTC. Holding it until now, you made $7 million plus, which is enough for me to have the freedom to spend on whatever I want without worrying about my future while holding the portion to sell them at a much higher price. Those flash crashes also happen even in stocks, so I think it's normal to see these historical data and look at BTC today. If that crash happens again, I believe people will likely buy more BTC, but it's impossible to see that price again. I think he is talking about the video from the X tweet included from that link from the OP

You made a good observation to begin with because this flash crash as at then shows how such a crash can cause real panic in the market and it shows why it is not good to keep hodling with a centralized exchange. Those who panicked and sold then would have made those who bought at that price, billionaires by now and this is just the reality of the crypto currency market and volatility. Bitcoin grew past that and remains solid as a testament of good faith and trust in the system till date.

Buying bitcoin back then was different to now though, I'm sure 99% of people who has strong conviction today would just outright ignore bitcoin due to its small market cap. However, imagine just putting some $50 into it and forget it, 15 years later we would become millionaire by just spending aside some $50 that I'm sure any of us could do.

Exactly!! The Bitcoin then was felt fully different compared to Bitcoin now... it was felt like the shittiest shitcoin... it was felt rather a joke than an asset. The extremely small market cap alone was the best proof that BTC was not worth much  To people who regret not buying BTC in its early days I have a question why you do not collect shitcoins now?, why do you not even try to calculate their equilibrium values? why you just KNOW that they are worth nothing because "everyone" knows it? Yes, the answer is very simple: every time has its "Bitcoins" but they always feel like a joke. All great investments feel like a joke and neither the Times, the President nor Michael Saylor is looking at them with respect

Buying is always buying. If there is a difference, that will only be the price, so we can also get a smaller quantity now but that is still Bitcoin and it is still very valuable. It should not discourage us. I think Bitcoin right now has much larger market cap, although you might be referring before but if we have the same initiative today and then we go back on the year when Bitcoin is still tiny, we surely won't waste time of buying more. We will be millionaire through investing and not through spending it. If let say I already have some knowledge in Bitcoin on the past, 50 dollar is still a big amount for me already, so I will still think twice but I might still risk a smaller amount (say a dollar or two). There is also no guarantees that I won't get something in my investment from time to time.