Something Awful's Unintentional War Against Bitcoins
On June 11th, 2011, the call went out to Reddit:
So I guess we're the enemy of Bitcoins and we must be destroyed. By DDoS or hacking. Fees for attacking our servers to be paid in peer-to-peer currency. Hmmm...
It isn't very often a currency declares war on Something Awful and tries to hire mercenaries. There was that run in with Linden Dollars back in 2005, but we resolved all that without resorting to virtual violence.
I knew nothing about Bitcoins (hereafter BTC) when this happened, I had no opinion, and certainly never encouraged anyone on our forums to meddle with BTC. As it turns out, one or more of our members caused a deep dip in the BTC market, driving the apparent value of the virtual money into the ground by registering an account on the BTC forums and causing a panic sell-off.
Something Awful, among other Internet ne'er-do-wells, was blamed for "crashing the BTC" and causing it to lose about 40% of its value in the span of 30-minutes.