In December 2013, the People’s Bank of China made it clear they did not want banks touching Bitcoin because it was not backed by any nation or central authority.Mt. Gox said at the time the attacks had become frustratingly common. “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three ...

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