One tweet caused loss of $136 billion - GoFuckYourself.com

BareBacked · 05-02-2013, 09:57 AM

So crazy this world

was one week ago this Tuesday that a hacked AP account tweeted, ?Breaking: Two Explosions in the White House and Barack Obama is injured? to its 1.9 million followers.

Moments later, the @AP twitter handle released a statement saying they had been hacked and that President Obama was fine, but the markets had already reacted. The Dow Jones Industrial Average plummeted 150 points and lost $136 billion in value before rebounding.

xNetworx · 05-02-2013, 10:01 AM

The internet, a love hate relationship

Scott McD · 05-02-2013, 10:04 AM

Won't be the last time something like that happens...

PR_Glen · 05-02-2013, 10:05 AM

Quote:

Originally Posted by Scott McD

Won't be the last time something like that happens...

if it happens more often that would just end up softening the reaction..

Klen · 05-02-2013, 10:06 AM

Well that is not a real value anyway so it's no biggie.Real lose is only if you sell it for lesser price then you bought.

pornmasta · 05-02-2013, 10:18 AM

Omg someone hacked DVTime account at GFY. Loss: 136 billions... and 1 cent.

_Richard_ · 05-02-2013, 10:46 AM

Quote:

Originally Posted by KlenTelaris

Well that is not a real value anyway so it's no biggie.Real lose is only if you sell it for lesser price then you bought.

that's what happened.. think the story was some groups had scripts that scan news headlines and will sell at keywords

Bman · 05-02-2013, 12:20 PM

btw the account wasnt hacked.
somebody sent an email disguised as the editor to the person who controls the twitter account and she posted the tweet.

PornDiscounts-V · 05-02-2013, 12:31 PM

All of those transactions costed money to execute. Therefore it was a real loss.

TheeRoly · 05-02-2013, 12:37 PM

$136 billion figure probably isn't correct though. It depends on how many sold on news of the crash? Because if I remember correctly, it bounced back within minutes (I might be wrong on how long it took) of the account being disabled.

_Richard_ · 05-02-2013, 12:39 PM

Quote:

Originally Posted by Bman

btw the account wasnt hacked.
somebody sent an email disguised as the editor to the person who controls the twitter account and she posted the tweet.

that's how hb gary was 'hacked'

crockett · 05-02-2013, 02:08 PM

Anyone that sold stock because of a tweet with out checking for a second source deserved to lose their money. Simply put "INVESTORS" didn't lose money.

The guys that react to information like that are day traders & market groups not actual investors. They gamble, so they should quit crying every time they lose.

Not to mention any stock that was sold was bought by someone else so any loses were turned into gains on the other side.

lazycash · 05-02-2013, 02:21 PM

Welcome to bitcoin economics.

mineistaken · 05-02-2013, 03:50 PM

Hacker did not change the password? Otherwise they could not regain access and post something "moments later"

Relentless · 05-02-2013, 04:02 PM

High frequency trading by machines that include twitter in their algos...

The stock market has zero to do with the economy or the ordinary investor.

Due · 05-02-2013, 05:03 PM

Quote:

Originally Posted by Relentless

High frequency trading by machines that include twitter in their algos...

The stock market has zero to do with the economy or the ordinary investor.

Thanks for clearing that up, I had completely misunderstood how economics work. What should I invest in ?

05-02-2013, 09:57 AM	#1
BareBacked Confirmed User Join Date: Feb 2007 Location: www.BareBacked.com Posts: 3,685	One tweet caused loss of $136 billion So crazy this world was one week ago this Tuesday that a hacked AP account tweeted, ?Breaking: Two Explosions in the White House and Barack Obama is injured? to its 1.9 million followers. Moments later, the @AP twitter handle released a statement saying they had been hacked and that President Obama was fine, but the markets had already reacted. The Dow Jones Industrial Average plummeted 150 points and lost $136 billion in value before rebounding. __________________ NEW SITE PAYING $30 for a $1 TRIAL Selfies

05-02-2013, 10:04 AM	#3
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Won't be the last time something like that happens... __________________ I Buy My High Quality Traffic Here, You Should Too!

05-02-2013, 12:20 PM	#8
Bman Confirmed User Industry Role: Join Date: Aug 2003 Location: Redirecting your traffic Posts: 1,679	btw the account wasnt hacked. somebody sent an email disguised as the editor to the person who controls the twitter account and she posted the tweet. __________________ ICQ 228211529

05-02-2013, 12:31 PM	#9
PornDiscounts-V Confirmed User Industry Role: Join Date: Oct 2003 Location: L.A. Posts: 5,740	All of those transactions costed money to execute. Therefore it was a real loss. __________________ Blog Posts - Contextual Links - Hardlinks on 600+ Blog Network * Handwritten * 180 C Class IPs * Permanent! * Many Niches! * Bulk Discounts! GFYPosts /at/ J2Media.net

05-02-2013, 02:08 PM	#12
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	Anyone that sold stock because of a tweet with out checking for a second source deserved to lose their money. Simply put "INVESTORS" didn't lose money. The guys that react to information like that are day traders & market groups not actual investors. They gamble, so they should quit crying every time they lose. Not to mention any stock that was sold was bought by someone else so any loses were turned into gains on the other side. Last edited by crockett; 05-02-2013 at 02:09 PM..

05-02-2013, 10:01 AM	#2
xNetworx So Fucking What Industry Role: Join Date: Jan 2004 Location: Whore Island Posts: 14,445	The internet, a love hate relationship

05-02-2013, 10:06 AM	#5
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	Well that is not a real value anyway so it's no biggie.Real lose is only if you sell it for lesser price then you bought.

05-02-2013, 10:18 AM	#6
pornmasta Too lazy to set a custom title Join Date: Jun 2006 Posts: 18,946	Omg someone hacked DVTime account at GFY. Loss: 136 billions... and 1 cent.

05-02-2013, 12:37 PM	#10
TheeRoly Confirmed User Industry Role: Join Date: Oct 2012 Location: Miami, FL Posts: 150	$136 billion figure probably isn't correct though. It depends on how many sold on news of the crash? Because if I remember correctly, it bounced back within minutes (I might be wrong on how long it took) of the account being disabled.

05-02-2013, 02:21 PM	#13
lazycash Troll Patrol Industry Role: Join Date: Aug 2002 Location: Local Socal Posts: 15,214	Welcome to bitcoin economics. __________________ "WTF, on google you can find the answer to every question in human history, EXCEPT how to convert cams.. Its crazy..." VenusBlogger

05-02-2013, 03:50 PM	#14
mineistaken See signature :) Industry Role: Join Date: Apr 2007 Location: ICQ 363 097 773 Posts: 29,656	Hacker did not change the password? Otherwise they could not regain access and post something "moments later"

05-02-2013, 04:02 PM	#15
Relentless www.EngineFood.com Industry Role: Join Date: Aug 2006 Posts: 5,698	High frequency trading by machines that include twitter in their algos... The stock market has zero to do with the economy or the ordinary investor. __________________ Website Secure \| Engine Food ICQ# 266-942-896