BitcoinNews.ca
  • Home
  • What Are Bitcoins?

Difficult Days for Bitcoin

2/13/2014

0 Comments

 
Picture
Update: Feb 14 - It appears that Bitstamp has reopened withdrawals and price of BTC is rising again.

The saying goes "beware the ides of March", however the middle of February is just as dangerous for Bitcoin.

Unfortunately, Bitcoin appears to be going through a difficult patch right now. Here are some of the current issues facing the digital currency market as a whole...not just Bitcoin.

  • There is excessive pressure to regulate the currency, even by the Canadian government.
  • Programming exploit found on Mt Gox, the largest Bitcoin exchange. 
  • Multiple Bitcoin exchanges hit with denial of service attacks.
  • Exchange Bitstamp halts fiat currency withdrawals as it is attacked.

As a result of these concerted efforts, the confidence in Bitcoin is beginning to show weakness. This is reflected in the current pricing over the past week.

However, there are bright spots within this current situation, the currency algorithm itself continues to prevail despite these attacks. Additionally, the community support behind Bitcoin and Alt Coins continues to build.

Mt Gox - Pricing ($500/BTC)

Picture

Virtex Canada - pricing ($700/BTC)

Picture

Virtex Canada - Feb 14th update

Picture
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    New to Bitcoin...
    START HERE

    Check our posts for information related to what Bitcoin really is:
    • What is a Bitcoin?
    • Why are Bitcoins so great?
    • How do I spend Bitcoins?

    About The Author

    The site author has been interested in Bitcoin since June, 2011 and is extremely excited to see the future developments of this digital currency.

    Archives

    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012

    Categories

    All
    Butterfly Labs
    General Interest
    How To
    Investment
    Political
    Technology
    Welcome

    RSS Feed


Powered by Create your own unique website with customizable templates.