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Feb 13, 2014

What You Need to Know About Mt. Gox and the Bitcoin Software Flaw

What You Need to Know About Mt. Gox and the Bitcoin Software Flaw

IEEE Spectrum 
By Morgen Peck

Here's what a terrible week looks like in the world of Bitcoin: Two of the most trafficked Bitcoin exchanges, Mt. Gox and Bitstamp, temporarily halt trading
and suspend bitcoin withdrawals in the midst of a distributed denial of
service attack (DDoS). On exchanges that are still open for business,
the value of the currency takes a brutal, sudden hit and then continues
to tumble. Bitcoin users notice strange errors in their wallet balances
after making routine transactions. Rumor spreads that the Bitcoin
protocol is critically flawed. And where rumor is lacking, conspiracy
theories abound.

All this, and it's barely Thursday.
Some of it is true. Some of it is half true. Some of it is completely false. Here is what's really going on.

Read more . . 

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