The World of Cryptocurrency - Bitcoin for FREE

Bitcoin price now is in the recovery stage after its tragic fall down to 6k dollars a few weeks ago. We just crossed the 11k dollars mark and now gunning to reach 12k dollars, one step at a time 'til we hit the 20k dollars mark that was the highest price of bitcoins' history. It manages to have a constant rise in a very slow phase, those skyrocket trail is just a thing of the past (just for now) and maybe soon those old days will get back on its track, we just don't have any idea when will it be. There are so many factors that affect the rise and fall of bitcoin.

Just recently, there was news circulating on the web about a glitch that happened on one of the exchanges in Japan. It was 18 minutes window for system glitch in Zaif Exchange wherein traders can buy bitcoin with an exchange rate of zero Yen.

Zaif informed users about the glitch in a post on their site Tuesday, Jan. 20, explaining that for 18 minutes on Feb. 16 users accidentally found themselves able to ‘trade’ yen for virtual currency — at an exchange rate of 0 yen per coin.
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According to report, there were seven costumers managed to buy digital currency for free in that 18 minutes glitch window. Six of the transactions were voided but the seventh costumer purchased 20 Trillion worth of Bitcoin and tried to withdraw it from the exchange. Due to the abnormality of the amount of bitcoin that was sold in Zaif Exchange, it draws attention to the crypto community.

The glitch happened with Zaif’s price calculation system and allowed seven customers to obtain digital money for free. Six of the transactions have been voided, and the exchange has been trying to resolve the problem with the seventh customer, who tried to cash out.

As Japanese newspaper Asahi Shimbun reports, this seventh client “purchased” 2,200 trillion yen ($20 trillion) worth of bitcoin and tried to withdraw it from the exchange. Bitcoin’s overall market capitalization is just a fraction of what the user wanted to order. All bitcoins in circulation are worth just $187 billion.
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Japan is known for its high standard products due to its advanced technology that they were using but still, there were errors and glitches occurred along the way that some of our fellow cryptonians took advantage. There is already numerous tragic event that took place in an exchange ranging from system glitches, system hacked and bankruptcy. This is one of the reasons why we should not keep our hard-earned crypto in an exchange!. It's too risky to make an exchange as a wallet for our bitcoins and other currency.

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