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Hysteria Grips Bitcoin Market As Apple Removes Bitcoin Wallet App from Its Store

By James Ching
February 28, 2014

Despite the active hostility of the Chinese, Indian and Russian governments, the spread of bitcoins throughout the world was untrammeled until last month. In a series of dramatic arrests and prosecutions, the U.S. government began an active campaign against the use of bitcoins for questionable purposes.

Yet the bitcoin world seemingly is unaware of the thrust of recent U.S. actions. It was, however, roiled recently by two events. The first was the elimination of Blockchain, a bitcoin wallet app, from the Apple store. The second was the announcement that both Mt. Gox and Bitstamp, prominent bitcoin exchange sites, were halting withdrawals. The latter events were described as the result of technical problems and a denial of service attack, respectively, with no confirmation as to whether Mt. Gox was simply attacked as Bitstamp was. See, “What's Going on with Bitcoin Exchange Mt. Gox,?TechCrunch.

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