War Has Escalated: Bitcoin vs Fiat Currencies, China and Russia Banning, Japan Halts (Update: Bitcoin hit with unknown DOS attacks)

 
****Update:



Bitcoin is being hit by attacks from unknown computer hackers who are sending "mutated" lines of code into the program that runs the virtual currency, a spokeswoman from its main trade organization said in a statement on Tuesday.

The attacks are responsible for problems experienced by two bitcoin exchanges that caused them to temporarily halt withdrawals by customers who stored bitcoins in digital wallets provided by the exchanges, the Bitcoin Foundation said in a statement.
 
[link to www.cnbc.com]




“China to a recent threat of a complete ban by the Russian authorities. It survived a scare involving an apparently Ukraine-based operation taking over close to half of the currency's "mining". It absorbed Apple's decision to remove all related software from its app store. Now, a top Bitcoin exchange, where the cryptocurrency could be traded in for government-issued money, has hit a snag that forced it to stop Bitcoin transfers to outside addresses
 
The latest problem occurred when Japan-based MtGox, the biggest Bitcoin exchange outside China, halted outside transfers from its clients' Bitcoin wallets on Feb. 10. The exchange explained that this was due to a glitch in the Bitcoin software which made it possible to alter transaction details after the fact, creating the possibility of double spending, a nightmare the system was built to avoid. The technical problem is known as "transaction malleability.”
 
“In the face of all this adversity, Bitcoin remains amazingly resilient”
 
[link to www.bloomberg.com]
 
 
Here we go, Bitcoin has become big enough that world currencies are under threat and are firing back.  On the other side, the folks using BTC and other cryptocurrencies are some of the best computer and tech people out there.  So I guess it is game on.