The course of decentralized virtual currency Bitcoin has passed on Sunday in the descent. Earlier, the news came out of an imminent removal of the software. A unit of virtual currency is currently traded on the Bitcoin Exchanges to about 259 dollars. – On Saturday there were still around $ 265
Posted had the spin-off the Bitcoin software under the name Bitcoin XT Gavin Andresen, chief researcher of important for the currency Bitcoin Foundation, and the Bitcoin programmer Mike Hearn. On Medium.com both Bitcoin activists explain the meaning of their “Forks” – so called the elimination of a software.
According to serve the amendment to remove obstacles on the way to a successful mass currency.
More transactions by larger block
The new software is based on the Bitcoin protocol, but changes a little thing that makes them incompatible with the previous Bitcoin software: The block in the so-called block chain are larger. The block chain is the database in which all Bitcoin transactions are recorded and stored on numerous computers around the world who use Bitcoin.
Larger blocks would transactions accelerate -. From the perspective of the authors is an important milestone on the way to mass currency
In order to convince the community that Bitcoin Cleaver quote the mystical father of virtual currency, Satoshi Nakamoto, who has not reported for years in the Bitcoin forums to speak. It is not clear who is behind the pseudonym Satoshi Nakamoto, even if it is a group or an individual.
The license of the Bitcoin software allows such a “Fork” – but in the Bitcoin community attempted split has triggered a hot discussion, because that would be a first in the short history of digital currency.
Bitcoin rebels want to decide market can
Those who use the new software in order to calculate Bitcoin, missed this a new version number, which indicates that it supports larger blocks. Once 75 percent of the calculated blocks in the Bitcoin network deceive the new version number, the Bitcoin system would automatically switch to the new block size within two weeks.
But the division raises a number of questions -. For example, which Bitcoin Exchange accepts what kind of Bitcoin
Andresen and Hearn advocate decide to leave “the market”, which is the better system – and thus my especially the bitcoin miners around the world, so those who Bitcoin produced by mathematical calculations. Bitcoin traded on numerous online exchanges against other currencies such as euros and dollars, the price is formed by supply and demand.
Inventors appear to cleavage
In a Bitcoin mailing list has apparently those Satoshi Nakamoto mixed on Saturday Bitcoin Cleaver refer to in your article. Whether it is in fact the mystified father figure of the currency or an impostor, can not be verified – but longtime observer of Bitcoin scene want to have recognized his style in the e-mail
Nakamoto advocates in the public email sharp against a split of the Bitcoin project from. The minutes of the virtual currency that works without a central authority and is controlled only by the network, had been deliberately created so that individual charismatic personalities can not change the rules – whether they “Gavin Andresen, Barack Obama or Satoshi Nakamoto hot “.
decisions about changes in the Bitcoin project should therefore only be made by consensus.
“If two developers are able to cleave Bitcoin and successfully so have to redefine what ‘bitcoin’ is … remains for me no choice but Bitcoin be declared failed,” concludes the alleged Nakamoto his appeal.
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