Bitcoin and Virtual Currencies Skyrocket, Skeptics Concerned

The price of a single Bitcoin just reached $10,000 on some exchanges, two months after it topped $5,000 for the first time. That’s a stupendous and unprecedented uptick, given that the Dow Jones Industrial Average in its biggest year (1915) went up 82 percent, which equates to one-tenth of Bitcoin’s rise. The price has been pushed upwards by new buyers from around the globe — Japan and South Korea are hotspots — enticed with the idea of storing money outside of the control of governments and companies. Continue reading Bitcoin and Virtual Currencies Skyrocket, Skeptics Concerned

The Rapid Expansion of Bitcoin Networks Called Off for Now

Bitcoin supporters that wanted to double the number of transactions that run through Bitcoin-supported networks have lost the fight, at least temporarily, to do so. They were opposed by another camp composed of many programmers working on Bitcoin who worried that too rapid expansion would make it easier for a government or company to exert influence over a system prized for being decentralized. Those who wanted to expand Bitcoin wanted to switch to a new software version that would have created a split in the network. Continue reading The Rapid Expansion of Bitcoin Networks Called Off for Now