Can someone explain, in simple terms, what the hell just happened to BTC?
I was looking to purchase some BTC as an investment for the long run and also to purchase some goods. While I was waiting for the bank transfer to process, the price of BTC has gone haywire. I saw the other post about pirateat40 manipulating, but I don't quite understand what happened there (between buy walls, etc.).
Could someone throw out a quick explanation for us new people? This sort of thing makes bitcoin seem very bad.
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http://www.reddit.com/r/Bitcoin/comments/wpllp/can_someone_explain_in_simple_terms_what_the_hell/