12 Mar '13, 3pm

This is how we mint money now: Software upgrade glitch causes bitcoin flash crash

This is how we mint money now: Software upgrade glitch causes bitcoin flash crash

Bitcoin suffered a flash crash overnight, falling 22% in the span of an hour before returning to the record-high levels at which the alternative currency has lately been trading. The cause was a software glitch . Bitcoin, which is operated as a collective with no central bank, recently upgraded its digital mint. Every 10 minutes, bitcoin “miners,” the people who create new units of the currency, compete to decrypt a puzzle that unlocks new bitcoins, which keeps the system running as it should. But it only works if everyone involved can agree the puzzle has been correctly solved. Last night, bitcoin miners running the upgraded software disagreed with those running the previous version, grinding the mint to a halt and threatening to split bitcoin into two separate currencies. The market responded as it should, falling sharply to a low of $36.80 as the programmers who manage ...

Full article: http://qz.com/61893/this-is-how-we-mint-money-now-softwar...

Tweets

Bitcoin 'Glitch' Sparks 23% Flash Crash

zerohedge.com 13 Mar '13, 1am

While we are used to seeing insta-crashes in our highly-regulated and trustworthy equity markets, the unregulated digital ...

Technical glitch knocks Bitcoin prices down 23%, now trading at $43

Technical glitch knocks Bitcoin prices down 23%...

venturebeat.com 12 Mar '13, 2pm

It’s hard out there for a virtual currency. Bitcoin prices collapsed 23 percent Monday night after a technical glitch forc...

A Flash Crash In The Bitcoin Market This Week R...

businessinsider.com 15 Mar '13, 4pm

Bitcoin has been on a tear this year. The virtual currency, which is exchanged anonymously via an online peer-to-peer netw...

Bitcoin Value Drops 23 Percent After Software Glitch Discovered: March 12, 2013 -- Bitcoin transactions were t...

Bitcoin Value Drops 23 Percent After Software G...

thewhir.com 12 Mar '13, 4pm

A Bitcoin software glitch caused its value to drop 23 percent Related Topics: bitcoins , mt.gox , payment Bitcoin transact...

Bitcoin – the future of money?

vccircle.com 11 Mar '13, 11am

Bitcoin is a massively disruptive innovation. The key is in the first sentence of the definition above – Bitcoin bypasses ...

Technical glitch sparks bitcoin sell-off

finextra.com 12 Mar '13, 10am

Technical glitch sparks bitcoin sell-off 20 hours ago | 1334 views | 0 Having seen its value soar in recent weeks, digital...

Major glitch in Bitcoin network sparks sell-off...

arstechnica.com 12 Mar '13, 4am

A technical glitch in the core Bitcoin software forced developers to call for a temporary halt to Bitcoin transactions, sp...

@bitcoinmoney

fincen.gov 19 Mar '13, 12am

FinCEN understands that the exchanger's activities may take one of two forms. The first form involves an exchanger (acting...

Major Bug In The Bitcoin Software Tests The Com...

spectrum.ieee.org 12 Mar '13, 9pm

Bitcoin went into crisis mode early this morning. This time, the threat wasn't from hackers tampering with poorly secured ...

Major glitch in Bitcoin network sparks sell-off...

mukpin.com 13 Mar '13, 7am

Major glitch in Bitcoin network sparks sell-off; price temporarily falls 23% a technical glitch in the core bitcoin softwa...

Is Bitcoin Money?

huffingtonpost.com 14 Mar '13, 9pm

Privacy is an age of universal email collection and spying, with millions of CCTV camera's, and warrantless spying pervasi...

Bitcoin and Bubbles: I see the US Dollar in per...

atyantcapital.com 14 Mar '13, 5pm

The information contained in this website is issued by Atyant Capital (“Atyant”). The Atyant website is not directed at an...

Max Keiser: HuffingtonPost - 'Is Bitcoin Money?...

maxkeiser.com 14 Mar '13, 11pm

Aristotle was wrong, money does not need to have intrinsic value. This has been proven by todays fiat money which none the...

#ProtectYourself & #YourFamily from the #bankst...

imgur.com 17 Mar '13, 10am

Imgur is used to share photos with social networks and online communities, and has the funniest pictures from all over the...

Office 2013 licenses are now transferable! We'll let our friend @liewcf explain more

Office 2013 licenses are now transferable! We'l...

liewcf.com 11 Mar '13, 3pm

Based on customer feedback we [Microsoft] have changed the Office 2013 retail license agreement to allow customers to tran...