Bitcoin Price Exceeds $600, Highest in Almost Two Years ?>

Bitcoin Price Exceeds $600, Highest in Almost Two Years

Bitcoin reaches a new high of over $600 as trading in China, faced once more by a devaluing yuan, spikes. CoinTelegraph spoke to experts to investigate the reasons for such a price increase and learn their forecast for the future of Bitcoin value.

The price of Bitcoin has passed $600. At time of writing, Bitcoin’s price had surpassed $630. This marks the highest the price of Bitcoin has reached in almost two years.

The last time the price had reached a similar level was late July of 2014….

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Digital Currency Exchange Gatecoin Offline After Loss of Funds ?>

Digital Currency Exchange Gatecoin Offline After Loss of Funds

Hong Kong-based digital currency exchange Gatecoin has reportedly experienced a hack, resulting in losses from its connected wallets.

CEO Aurélien Menant took to the Slack channel for the DigixDAO project yesterdayand indicated that the exchange lost control of bitcoins and ethers, the native token of the Ethereum network, during the incident.

Menant said that tokens tied to the DigixDAO project as well as the Augur and TheDAO projects were unaffected.

The CEO indicated via Slack that he was not entirely clear on the amount of funds taken,…

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Bitcoin transactions could consume as much energy as Denmark by the year 2020 ?>

Bitcoin transactions could consume as much energy as Denmark by the year 2020

The numbers in this study are very back-of-the-envelope and assume a worst case: widespread adoption of Bitcoin and not much improvement in Bitcoin mining activity, along with long replacement cycles for older, less efficient mining rigs.

Blockchain isn’t the only distributed ledger system, but it is the most power-hungry one. Other systems, like Merkle trees, can handle global-scale transaction ledgers on a couple of blade servers.

The results show that in an optimistic scenario, the increase in electricity consumption of the bitcoin network compared to now is not shocking,…

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Is Bitcoin’s Civil War Over? ?>

Is Bitcoin’s Civil War Over?

It has been almost a year since the Great Bitcoin Debate, which unleashed Bitcoin’s civil war, was brought to public attention. Now, a year later, an unofficial truce seems to have been reached with bitcoin’s potential crypto competitors, such as Ethereum, and potential competition from numerous bank sponsored consortiums focusing attention once again on making bitcoin great and appealing to all.

The Great Bitcoin Debate began with a series of posts by Gavin Andresen in Spring 2015 which argued for an increase in transaction capacity due to estimates that the limit of approximately 200,000 daily transactions would be reached by early 2016….

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