What to Do if Your Bitcoin Transaction Gets “Stuck” ?>

What to Do if Your Bitcoin Transaction Gets “Stuck”

The number of transactions on the Bitcoin network has steadily increased over the years. This means more blocks are filling up. And as not all transactions can be included in the blockchain straight away, backlogs form in miners’ “mempools” (a sort of “transaction queue.”)

Miners typically pick the transactions that pay the most fees and include these in their blocks first. Transactions that include lower fees are “outbid” on the so called “fee market,” and remain in miners’ mempools until a new block is found….

Read More Read More


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….

Read More Read More

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,…

Read More Read More

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,…

Read More Read More