20 Mar '17, 1am

Bitcoin just crashed 20% as the developers fight over its future

Bitcoin just crashed 20% as the developers fight over its future

An illustration photo shows a Bitcoin (virtual currency) paper wallet with QR codes and a coin Thomson Reuters After looking like it was on the edge of a cliff last week, Bitcoin crashed over the weekend and lost more than 20% of its value. The crypto-currency fell as low as $970 and is trading at just over $1,000 this morning, after reaching $1,259 last week. According to The Wall Street Journal, the crash is due to a disagreement among Bitcoin developers. Behind the scenes, there’s been a running two-year battle for how best to run the digital platform that forms the basis of the Bitcoin marketplace. In the Bitcoin market, transactions get traded in batches known as “blocks”. Currently, the maximum size that can be processed for one block of transactions is one megabyte. Competing developers have been agitating to increase the size of the trading blocks as the network ex...

Full article: http://www.businessinsider.de/bitcoin-price-crashes-20-20...

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