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Tom Elgar's Insights

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Reposted by Tom Elgar from

Bitcoin DDoS

This is pretty big news - all currencies are built on confidence and Bitcoin has been making good steps to build it but I guess this attack has exposed a real issue for Bitcoin; without a lender of last resort or Central Bank. if the technology stumbles what do Bitcoin holders have?

A “massive and concerted attack” has been launched by a bot system on numerous bitcoin exchanges, Andreas Antonopoulos has revealed. This has lead to popular exchange Bitstamp putting a temporary halt on all bitcoin withdrawals, and BTC-e announcing possible delays on transaction crediting.

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