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12 Mar '13, 4pm

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

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

A Bitcoin software glitch caused its value to drop 23 percent Related Topics: bitcoins , mt.gox , payment Bitcoin transactions were temporarily suspended on Monday night after a technical glitch with Bitcoin mining software, according to a report by Ars Technica. After the glitch, the value of Bitcoins plummeted by 23 percent, dropping from $48 to $37, but the price soon recovered to $44, according to the report. Major Bitcoin exchange Mt.Gox resumed Bitcoin deposits at 5:30 am EST Tuesday. “Early this morning, a Bitcoin block too big for version 0.7 was mined by miners using version 0.8, creating a fork in the blockchain. After some deliberation in the community, it was decided that miners should downgrade their version and continue the 0.7 fork until the issue is resolved,” according to a statement by Mt.Gox. Mt.Gox assured that Bitcoin deposits with Mt.Gox or those in t...

Full article: http://www.thewhir.com/web-hosting-news/bitcoin-value-dro...

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