[Ed. Note: Brotherjohn’s Monday night Bitcoin update denounced Mt Gox as being the problem, not the Bitcoin code itself. Fine. But tell that to the people who trusted Mt Gox and who have Bitcoins locked up there. Now today BitStamp exchange has followed suit. We look forward to the next Bitcoin update for clarity on this most confusing issue, as well as on JPM’s obviously blatant Bitcoin hit piece. And lastly, “if you don’t hold it, you don’t own it.”]
Bitcoin plunged another 15% or so from its bounce highs this morning as volatility has picked up dramatically in the virtual currency. The reasons are numerous: JPMorgan has come out with a scathing attack – “bitcoin looks like an innovation worth limiting exposure to;” CoinDesk reports that major exchanges are under a “massive and concerted attack” by a bot system – creating a “fog of confusion” over the system; and perhaps most critically, BitStamp has followed Mt.Gox and halted withdrawals “due to inconsistent results from their bitcoin wallet” – due to the DDoS attacks…
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