29 Nov '13, 7pm

The success of Bitcoin, a virtual monetary system, is putting it under growing strain

The Bitcoin system is designed to cope with the fact that improvements in computer hardware make it cheaper and faster to perform the mathematical operations, known as hashes, involved in mining. Every 2,016 blocks, or roughly every two weeks, the system calculates how long it would take for blocks to be created at precisely 10-minute intervals, and resets a difficulty factor in the calculation accordingly. As equipment gets faster, in short, mining gets harder. But faster equipment is constantly coming online, reducing the potential rewards for other miners unless they, too, buy more kit. Miners have formed groups that pool processing power and parcel out the ensuing rewards. Once done with ordinary computers, mining shifted to graphics-processing units, which can perform some calculations more efficiently. Miners then moved on to flexible chips that can be configured for...

Full article: http://www.economist.com/news/technology-quarterly/215907...

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Bitcoin

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coindesk.com 29 Nov '13, 8am

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Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no...

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#bitcoin

techcrunch.com 28 Nov '13, 5pm

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money.cnn.com 03 Dec '13, 1pm

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on remittance

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#Bitcoin

#Bitcoin

cnbc.com 27 Nov '13, 3pm

Web-based searches for the term 'bitcoin,' which was added to Oxford Dictionaries Online this year, have seen a sharp incr...

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bbc.co.uk 27 Nov '13, 12pm

27 November 2013 Last updated at 12:13 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print ...

BITCOIN $1000

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businessinsider.com 27 Nov '13, 3pm

Demand has surged this month as demand from China picked up , and the digital currency received coverage as it underwent t...