Bitcoin 8.0

Global Denomination v0.8.8 – Re

Our recent release of GDN v.0.8.7.0 was intended to perform a hard fork at block #42000 in order to swap out KGW with Digishield. As many of you may have noticed, this hard fork was unsuccessful and resulted in all v.0.8.7.0 wallets to be stuck at block #41999. As a result, we had to fix this flaw in the source code and update the network to v.0.8.8.0. To ensure the update would in fact perform as expected, we proceeded to test and carefully monitor the network privately, rather than immediately release v.0.8.8.0 to the public. During this time we were able to successfully make it through block #42000 and stabilize the network back to ~ 1 minutesource : CryptoArticles

Source: thebitcoinnews.co.uk June 3, 2014 – 13:04

Bitcoin's Meteoric Rise in Value: 583,900%

2011-06-14 07:21:07 by causeimthesquid


Bitcoin is the world's first completely Decentralized currency. This means it has no issuing entity... therefore, no single point of failure. In many ways Bitcoin is more secure than your bank. If your bank were to fail, your money could be gone forever. The Bitcoin network is made up of millions of computers all over the world, connected via the internet. The entire internet would have to go down, in order for the Bitcoin network to fail.
There will never be more than 21 million Bitcoins. The number of Bitcoins is limited by the design of the network

Bitcoins can be divided... Infinitely.

2013-04-11 13:21:40 by Urban_Redneck

From the wiki:
How divisible are bitcoins?
A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. If necessary, the protocol and related software can be modified to handle even smaller amounts.
Somewhere else it read "infinitely divisible".

You know this yet ignore it. Why?

2014-03-09 10:16:27 by -

Here's a link:
en.bitcoin.it/wiki/FAQ#How_divisible_are_bitcoins.3F
How divisible are bitcoins?
A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. If necessary, the protocol and related software can be modified to handle even smaller amounts.
...there is a mechanism in place to combat the obvious consequences. Extreme deflation would render most currencies highly impractical: if a single Canadian dollar could suddenly buy the holder a car, how would one go about buying bread or candy? Even pennies would fetch more than a person could carry

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