As the worlds first, and most popular, cryptocurrency, Bitcoin has by now suffered every possible setback a payment project could encounter. <\/p>\n
It was implicated in a huge drug bust when the Federal Bureau of Investigation took down the Silk Road electronic exchange. <\/p>\n
It has experienced regulatory pressure in forms ranging from trading restrictions in China to a recent threat of a complete ban by the Russian authorities. <\/p>\n
It survived a scare involving an apparently Ukraine-based operation taking over close to half of the currencys mining. <\/p>\n
It absorbed Apples 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. <\/p>\n
In the face of all this adversity, Bitcoin remains amazingly resilient, which could mean one of two things: Either it is here to stay, or the people who invested in it during a speculative bubble are reluctant to accept losses and still able to prop up the market with their trades. <\/p>\n
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. <\/p>\n
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. <\/p>\n
The technical problem is known as transaction malleability. The Bitcoin Foundation, the nonprofit organization that maintains the software, quickly countered that MtGox was itself at fault. Bloomberg <\/p>\n
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