End Of Bitcoin Triumph?

Bitcoin is one type of cryptocurrency lately very popular in the virtual world. Bitcoin’s character that is not printed by any government and its value fluctuates depending on the demand, it is makes bitcoin populair. Bitcoin has been used as by thousands of online and offline merchants. However, its existence is still controversy.

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By the end of January, two bitcoin exchange operator men were arrested in the United States on charges of money laundering. After that event the world’s two largest Bitcoin exchange, Mt.Gox and Bitstamp, stop withdrawal Bitcoin. Then a few days ago, Bitcoin Foundation stated that the problems experienced by the two systems exchange for Bitcoin Bitcoin is because theyre system is attacked by unknown hackers.

Jinyoung Lee Englund spokesman said, this is a denial of service attack anyone who did this does not have the intent to steal the coin, but prevent some transactions from confirmation. This attack causes a problem on the two stock bitcoin exchange which triggered a temporary withdrawal by customers who store digital bitcoin wallet supplied in both exchanges.

A team consists of software developers try hard to solve this problem. But until the repair is complete, the consumer cannot perform transactions against their coins. This problem seems to be could harm bitcoin, even Slovenia based bitcoin exchange which is the second major currency exchanges, stopping withdrawals by its customers in the last few days due to denial of service attacks.

The price of bitcoins, which have gained wider acceptance in recent months, dropped in the wake of the attacks from around US$850 late last month. On Wednesday, they were quoted down nearly 2 percent for the day at US$656 per coin on the bitcoin tracking website CoinDesk. Is this a sign of the triumph of Bitcoin will end?

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