Australia banned bitcoin gambling

Australia banned bitcoin gambling

   

The northern territory of Australia Race Committee gaming regulators (NTRC) has released an unofficial ban, ban cryptocurrencies all online gambling, and particularly bitcoin and etheric fang. Just a few days ago, an online gambling site license they announced that it is providing bitcoin to its customers.

Neds accept bitcoin gambling

Australia online gambling sites, CEO of Neds PaulCherry said: “we believe bitcoin currency and encryption is a feasible and secure online transactions. With this announcement, we want to ensure that those who share with us the positive attitude of the Australian currency encryption can use them and we bet.”

“We have been proud to be a technology company,” he said. “We are not only sports and race enthusiasts and Gambling company, we are programmers, analysts and computer fans, so this is a natural step for us. And we think that there are a lot of cross into the target market (money market encryption).”

Australia Brisbane because of its online gambling sites to accept bitcoin and received a lot of notice. As the first case of the continental countries, Neds even plans to join the currency substitution. Neds also claimed that more than 2% users will bear the transaction costs.

Neds received a license in the autumn of last year, and prepare all bets are using bitcoin, from the bet to the final exit. Cherry said thoughtfully: “this is a technical solution, we see ourselves as technical personnel, so we put bitcoin or other encryption currency integrated into our platform seems very appropriate. Many people may be some immature investors, they obtained some bitcoin in recent speculation, they may not know how to deal with these bitcoin.”

Regulators issued a ban

Then, all collapse in a few days. As of press time, the website is redirected to the official platform of it, all bitcoin tracks seem to have disappeared, including its search function. Earlier, there is such a warning on this page: “our website is currently offline, waiting for further instructions NT competition committee.”

In an e-mail in AustralianFinancialReview area, NTRC gaming regulators said, “it is going to issue a formal notice to all Gambling company and sports betting exchange operators, if they are currently using encryption currency (such as bitcoin transactions, etc., the etheric Fang) should immediately cease and terminate the transaction.”

No matter what the reason, the Australian government has local media called “a hostile stance” encryption currency, so far, for those who can be authorized, in line with international competition gambling institutions of the people, this is a limitation: radio advertising is limited to poker and other games. The enterprise of the similar email unresponsive, often lose the advantageous tax advantages, will also lose their license.

At the same time, Neds will continue to provide the use of legal currency bets for its online customers in australia.

Foreign media secret than Chinese real estate corporation is a group of people crazy: selling fried bitcoin

Foreign media secret than Chinese real estate corporation is a group of people crazy: selling fried bitcoin

    

Bitcoin crazy still continues! In New Zealand, the latest signs that many investors have gone insane, and even the local people to sell bitcoin houses, or their homes built into bitcoin mining platform.

More ironically, real estate and bitcoin bitcoin is obviously more than, crazy. New Zealand’s real estate market has greatly expanded, a lot of foreign capital influx of New Zealand, in accordance with the “New Zealand Herald” that Chinese real mission is the most active real estate market in New Zealand investment group.

But in this context, investors are still optimistic about the crazy bitcoin. Can you imagine such a picture: a small room on land in Oakland, with powerful computer hardware incredible, millions of bytes per second, is crazy…… It’s no wonder that in 2013, bitcoin price is about $1, but as of press time earlier, bitcoin worth more than $18000.

There is a New Zealand IT person, a secret place him in the west of Oakland, to create a “virtual currency of mine”. He sold his house in Hamilton, computer equipment bought expensive, high performance. Then, he and partner together in a small room “virtual currency mine”, he received a $300 thousand investment in the equity of $60 thousand.

Then, in addition to cost NZ $1500 (about $1000) of the bill, the “secret miners” basically can sit down and watch the cash coming — which makes him for his wedding and honeymoon in Fiji he fund. But the mining work is not so easy, at 35 degrees Celsius temperature, must keep staring at his expensive equipment. But in addition to the $1500 monthly electricity bills, the digital miners can use his mobile phone to control the intelligent mining process, looking at his virtual currency appreciation and depreciation.

So far, the number is still growing at an alarming rate. In just three months, the IT who provides funds for his $30 thousand wedding and honeymoon and travel to Fiji. Although bitcoin price volatility also let him fear meat skip, but now the days far exceeded that in the worst case.

In general, the 30 year old New Zealand IT who is just a microcosm of the New Zealand bitcoin crazy tide. Since bitcoin and digital currency or a “unknown”, perhaps 5 years, 10 years later, bitcoin volatility will make the bubble burst, but for now return, why don’t people insane.

Bulgaria on seized bitcoin to pay 1 / 5 bonds

Bulgaria on seized bitcoin to pay 1 / 5 bonds

  

After an underground network of undercover crime of bankruptcy, Bulgaria has seized enough bitcoin to repay the fifth of the treasury.

According to ZeroHedge, the Bulgarian criminal law enforcement agencies and law enforcement center in southeastern Europe arrested 23 Bulgarian criminals, and confiscated a total of 213519 – about $3 billion 500 million worth of bitcoin.

Mafia hackers invaded Bulgaria customs computer, effectively allow them to import goods without paying duties. In a small number of corrupt officials under the help of the organization to install a virus on the computer in the customs, in order to remote access.

SELC said the organization including five Bulgarian customs officials, while others have relations with the former Yugoslavia federal.

SELC said: “by organized crime groups in the former Yugoslavia Republic of Macedonia, Greece, Bulgaria, Romania and Serbia citizens confidential relationship composition.

The most interesting part of this story is bitcoin incredible value and the Bulgarian government plans to take measures. SELC confirmed that when they seized the purse, bitcoin worth $2354. Now more than $16000.

“In the main suspect bitcoin wallet, found a total of 213519 bitcoins. As a reference, a bitcoin is worth more than $2354. The offender to choose the way of bitcoin investment / savings, for tracking and tracing is very difficult.”

According to the national debt clock, Bulgaria’s national debt at about $16 billion – so if they use the new bitcoin wealth, they can be startled at.

US lawmakers for bitcoin legislation to protect the legitimate rights and interests of citizens!

US lawmakers for bitcoin legislation to protect the legitimate rights and interests of citizens!

The United States government members is steadily made use of encryption currency legislation. Some representatives of Congress want to increase regulatory standards, some argue that the virtual currency always does not comply with the provisions of. According to reports, three members of Congress is drafting legislation to protect citizens using bitcoin and other digital rights to assets.

“Mainstream digital currency to be treated”

The Congress of the United States have been trying to study and formulate the bitcoin and other digital currency law. According to the “daily telephone” said, three representatives of the United States hopes to make bitcoin meet the requirements, but also can protect these assets from government beyond. Institutions such as the IRS has recently been under investigation does not pay taxes on the citizens, there are many local car arrested. In addition, even in the United States TSA airport handling mobile phone, computer and password problem. There is no law to protect citizens from government related negligence.

Contact with the delegation of the sources told the “daily telephone”, as long as three officials to comply with regulatory requirements, the drafting of legislation to protect citizens. According to officials, some members of the U.S. Treasury Department questioned the framework, but the draft lawmakers with liberal ideal support. The source explained that the legislators compiled on behalf of the two Republican senators, another Republican senator. The future legislative work will begin in a few months after the August congressional recess, three office of the target is in the implementation of digital asset protection criteria for the next few months.

The source explained: “the plan is the core of the digital currency into the mainstream, so it can be treated as dollar.

US lawmakers for bitcoin legislation to protect the legitimate rights and interests of citizens!

First of all, a new entity is considering the issuance of a new digital currency with anti money laundering laws, any kind of not in circulation.”

By preventing protective legislation past issues of cryptography

Officials were aware that the biggest obstacle to bitcoin and other digital currency is more and more ideas, namely implicit money is mainly used for illegal activities. These three offices are put forward to prevent the illegal behavior and money laundering legislation mode. The drafting of frame members now do not want to confirm, but plans to submit the proposal to Congress in September.

“This is a very complicated problem, the staff is trying to solve some of the past stop alternative currency issues,” U.S. lawmakers said.

The protection of federal government harassment and eliminate obstacles

In addition, the delegates think the law “needs to change in order to protect the digital currency against the federal government harassment”. Officials believe that bitcoin should not be regarded as the guarantee, daily transactions required by the tax law protection.

And the chief executive said: “the final conclusion is that Congress needs to eliminate a number of energetic currency all obstacles, the digital currency has voluntarily let the bad guys don’t use it.”

Digital currency currency reform to promote the digital society

Digital currency currency reform to promote the digital society

 

Some time ago, the bitcoin currency exceeded 2000 and $3000, new record highs in the past six months, bitcoin has more than doubled, an increase of more than 10 times more than the 2015 lows; more than bitcoin crazy and Wright currency, Ethernet Fang and other internet currency, in the second half of the time jumped more than 5 times. The outbreak of the wealth effect of growth brings, attracted the attention of global capital, raised concerns about the currency of the Internet bubble, but also makes the internet currency is more and more mainstream cognition.

The Internet internet currency is the trend of social development

The emergence and development of internet currency is the inevitable trend in the development of society and economy. The social and economic activities in the world more than 3 billion internet users on the Internet in the formation of a large number of free circulation of money demand, and the currency of the Internet to break the existing national monetary credit and exchange regulation based on the constraints of time, in accordance with the features of social and economic activities in the Internet era. From the current perspective of the development of internet currency can be divided into two types, one is issued by the Internet community, and was accepted by the community members, community members and virtual currency in circulation in the range, such as the Tencent of the community Q coins and other virtual currency, with expansion of the Internet community members and community scale and influence continue to be more recognized and used, but its value is often a fixed currency, and did not have an impact on the existing monetary system; the other is a block chain of Internet information technology encryption based on virtual currency emerging, such as bitcoin, this encryption compared to the virtual currency and the present legal currency, has the characteristic to the center and the anonymous circulation, often do not have a focus on the issue of institutions, but the computer software based on specific algorithms run by network nodes, generated by a large amount of computation, and can be anonymous circulation in the global scope.

Born in 2009, bitcoin is a virtual currency encrypted first generation, is a revolutionary exploration of Internet monetary function, the issuance and circulation system breaks through the current currency monopoly in a certain extent, is considered to be the currency of the future. In bitcoin, all kinds of virtual currency bitcoin related encryption based on the principle of large numbers. Although the virtual currency encryption as the representative of bitcoin is still unable to shake the current legal tender status, but it builds the internet currency issuance, circulation system based on, and began to practice in the Internet society. Has the country, more and more financial institutions to recognize the significance and development trend of Internet technology, innovation principle, the influence of money on the existing monetary system. Japan in April this year officially as a legitimate bitcoin payment, to further promote the legalization of internet currency, Japan has become the world’s largest bitcoin trading country; block chain technology RIPPLE open payment network has been accepted by more and more based on large financial institutions, for cross-border payments, reduce transaction costs; bitcoin Internet etc. The currency related enterprise has become the focus of risk investment. Although the current internet currency is still in the edge position, is still in its infancy, showing the characteristics of barbaric growth, but it brings innovation has very important significance for the future development of financial.

The internet currency is still wary of short-term risk

Although the internet currency represents the future trend of development, but the short-term risk still can not be ignored.

On the one hand, the Internet in the currency after the birth of trading in the market, with soaring prices, with larger trading risk. Such as bitcoin, 2013 in the pursuit of the concept of internet currency, currency soared more than $1000, the highest in 2014, the largest bitcoin exchange bitcoin stolen, currency plummeted, $more than 100. In 2017, affected by political and economic factors and regulatory policy and the currency of the Internet technology continues to improve and mature, more time bitcoin within half a year fast exceeded $3000, a record high frequency, in 8 years time bitcoin created the Internet monetary wealth myth, directly and indirectly promote a rise and the value of a variety of internet currency rose, attracting a large number of Internet monetary wealth chase.

The world’s major trading currency on the Internet including bitcoin, Wright coins, Ethernet square, dogs coins, coins and other infinite, based on all kinds of algorithms of Internet money are ten. The Internet is just the most money using the concept of currency holders and attract capital speculation, and has not been widely recognized and applied. And because the internet currency volume is small, the holder or concentration of a large amount of funds under the condition of price is extremely easy to be manipulated.

On the other hand, the internet currency legal and regulatory risks are still high. Due to the center and anonymous characteristics of internet currency, which has been widely used to avoid global financial regulation, the field of global crime and all kinds of financial transactions and the exchange of gray areas, there are still a lot of regulators of internet currency negative and a wait-and-see attitude, existing laws and policies with high risk.

Achilles heel is the currency of the Internet’s information security

The internet currency, especially virtual currency block encryption technology based on the chain, is completely dependent on information technology; no information carrier, internet currency cannot reflect its value. So the information security from the beginning of the birth of the internet currency is its Achilles heel. Virtual currency to encryption to the center of the circulation and anonymous “features, once in a distributed node in the information security problem, may lead to all currencies stolen and unable to back the currency ownership, paralysis and even the whole currency issuance and circulation system. At the beginning of 2014, the world’s largest bitcoin exchange operator Mt. The Gox security vulnerabilities in the trading platform of 850 thousand bitcoins stolen, resulting in the exchange of bankruptcy, bitcoin slump triggered.

With the sharp rise in the currency of the Internet, the huge wealth driven by interests, will have the encryption algorithm, more focus on the Internet hackers break all kinds of currency in the currency of the Internet so the legalization and standardization of the application process, information security is the priority among priorities of the development of the Internet security money.

At present, in China, internet currency and no legal, official definition of regulators bitcoin is still “is a kind of virtual goods in particular, in the context of risk prevention, and can be traded, but does not have legal status and monetary equivalent, can not and should not be used as currency in circulation in the market”. This does not preclude the China become Japan, third bitcoin trading country after the United states. The innovation of internet currency and its related technology is the trend of an important long-term development in the information age, as the world’s most populous country Chinese, with the most active and the huge size of the Internet economy, to actively participate in the currency of the Internet technology innovation, to accelerate the standardization of internet currency production, circulation, safety and short term, healthy development.

Bitcoin wallet indestructible!

Bitcoin wallet indestructible!

Over the past eight months, a encryption algorithm enthusiasts organization, is a Quixote type of effort: encryption algorithm to create a bitcoin wallet address brute force.

From the beginning of the advent of bitcoin, its security is as strong as iron become the consensus of many people, so the idea of this organization is also regarded as unrealistic. It is similar to the world’s largest particle accelerator LargeHadronCollider Name: LargeBitcoinCollider (LBC), may also imply the meaning.

However, once the success of LBC, it will make a key part of bitcoin encryption algorithm in the immediate failure.

principle

Bitcoin wallet will randomly generate a public address, and the associated private key. A randomly generated public address must be “random”, in order to ensure that the associated private key cannot be guessed.

Technically, a private key and a public can match any address, but if you want to get the matching address and key through brute force, requires huge computer resources through numerous possibilities.

For any one team, this is obviously not possible. LBC therefore hope that through the development of a software, build all users of the computer resources, to realize the idea.

Legal issues

LBC do this actually means, away from someone else’s bitcoin bitcoin wallet by hacking. The organization sponsors the pseudonym Rico told vice.com that if users get bitcoin through LBC network, basically is to keep the. As for whether it is legitimate, LBC advises users to calm attitude as.

LBC said on its website:

Depends on how you look at it, it may be regarded as theft, so is illegal.

However, there are also many other words, so you can fully legally have you found the value of 5%-10%. Therefore, you should think so: do you want to have 100% and become a criminal, or only to 10% and continue to be a law-abiding citizen.

LBC running in less than a year, Rico said, this project has generated 3000 trillion key, and put them and the existing bitcoin wallet address are compared. At present, a total of 30 screened, key, but which may be specifically for crackers “fishing” key, and really contain matching key bitcoin has three.

Mixed industry

On the surface, trying to crack others bitcoin wallet apparently malicious behavior. However, LBC’s work also has research value.

Bitcoin security researchers RyanCastellucci had to break through bitcoin wallet, to simulate the behavior of the attacker, to deploy counter measures. For the LBC project, he said:

A little disappointed me is that they only have the balance ratio (bitcoin wallet address), and not all used.

From a research point of view, all than the used address is more interesting, this is because it will be able to show the address is generated in the past security is weak, and the address has been cleared of the attacker.

But break bitcoin wallet is simply one of the goals of LBC, another goal is through collision attack, allowing users to enter their own data after bitcoin address hash algorithm, direct key generation and address matching. If this goal is reached, then bitcoin address generation, it is necessary to adopt a new algorithm.

This is a major and SHA-1 algorithm in February this year, Google web encryption, and to achieve the world’s first SHA-1 collision attack is similar. Once the SHA-1 algorithm is widely used, it was declared the fate of the end.

P2PKH is one of the encryption algorithm to generate the bitcoin address, Rico explained that, if the realization of collision, it will mean an end to the encryption algorithm, instead of bitcoin itself. He said:

Bitcoin will continue to evolve with new type of address, so it is quite sure that it would not “death”.

Rico said that since the establishment of eight months ago, the LBC project has received many Tags: impossible, illegal, meaningless and cool. He said, wait for the LBC to find that there are more, including the realization of collision, so it does not care about the outside world view.

Bribery by intelligent protocol based on bitcoin mining pool can pose a threat?

Bribery by intelligent protocol based on bitcoin mining pool can pose a threat?

   

Through the intelligent protocol released bribery payment can be destroy bitcoin mining model?

A new research report pointed out that a malicious attacker will take intelligent protocol or protocol for encoding rigid block chain, to fundamentally solve the problem of encryption to disturb their efforts through bribery to pay miners. Mining is a process of energy intensive and full of competition, in this process, the miners will rush to the next block trading is added to the block chain.

The Hebrew University in Jerusalem, YaronVelner, JasonTeutsch of the University of Alabama and the National University of Singapore Computer College LoiLuu write a “intelligent protocol makes pool paper become fragile”.

This paper is published in March 7th, it is assumed that in the correct scene, some people can use smart protocol to guarantee payment to the miners, at that time they would hide from mine pool information. By doing so, a malicious miner can effectively increase on mineral pools finally force the interests of share. On the contrary, this attack can be deployed and used to destroy the interests of other competitors.

The author explains the key problem is that the use of intelligent protocol:

“The use of intelligent protocol in order to make a successful attack on plays an important role. But the miners are unlikely to launch coordinated attacks, unless promised their money is guaranteed. In addition, through the intelligent protocol allows an attacker to reward continue to remain anonymous, prevent other people to track their.”

Why miners take this way? Those who own miner without great force is to eliminate the risk of huge power can earn interest. The ore miners gathered in the pool will be concentrated in a little reward according to contribution is in proportion to the distribution of these coins.

With this hidden information block attacks, has a large number of miners is divided it into two pool, and in which all work a pool that solutions to withhold. However, according to the author, until the development of intelligent protocol to a certain degree of internal mining cooperative attack of this type will become possible.

According to the researchers, this attack can not guarantee work, because some of the miners, especially those with ethical considerations and do not want to rely on Intelligent protocol obtain money miners, they may not want to participate in.

Bitcoin is not you missed the first pot of gold?

Bitcoin is not you missed the first pot of gold?

We should also remember that the virtual currency bitcoin. Don’t know bitcoin, I posted Baidu’s explanation: bitcoin (BitCoin) was first put forward by Nakamoto in 2009, according to the published design Nakamoto open source software and construct a P2P network. Bitcoin is a digital currency in the form of P2P. Point-to-point transmission means a decentralized payment system. Click to view more bitcoin knowledge

Generally speaking, bitcoin is a virtual currency emerging, called virtual currency, because bitcoin can only exist in the network, not like gold is a kind of circulation. So bitcoin can only flow in the network.

How to get bitcoin? Very simple, add a pool, download software and mining, excavation. A few years ago when bitcoin is not fire, bitcoin belongs to Master geek plaything, when a lot of people to the performance of GPU mining computer, is used to dig bitcoin to test. When bitcoin bitcoin started not worth a hair, well digging, unlike now people already don’t dig up, all is a professional mining machine. Some people may have enough contact bitcoin a few years ago, but at that time no one pay attention to it, then there is no what value, no game player’s attention. Results after a few years of bitcoin soared, from 5500 to today’s a not worth a hair. This increase is called the stock market seckill.

The most sad reminder is a part of those who had to dig for fun, in order to show the performance of the computer, to dig bitcoin, but forget these precious things, I once was a student in the school before, when installed a computer, he belongs to a geek internationally, at that time global forum that the computer can dig bitcoin to test performance. He every day to open the computer to dig. After forgetting it, know that 2 years ago, bitcoin began to rise, I think. I immediately contacted him, ask him to dig bitcoin still?

He cried and said to me: the computer hard disk was installed too many films, finally after graduation are formatted, the bitcoins lost, he had dug hundreds of pieces of bitcoin, with the format, all empty. Empty is not a small sum of wealth..

I can only say, what a pity.

See bitcoin nearly a year of charts, rose from 2000 yuan to 5550 yuan, an increase of up to nearly 2 times, there are always some you may not know the way of investment will give you a surprise — such as bitcoin.

Even if bitcoin is currently high, also can be operated through the platform to borrow money to buy low sell, but also money, make the difference. Please check the mode of operation: the use of leverage, ups and downs are profitable!

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

Changzhou municipal government issued a notice to prevent bitcoin blackmail virus

Changzhou municipal government issued a notice to prevent bitcoin blackmail virus


Bitcoin ransomware is a new kind of malware, the attacker important files through this illegal way encryption target users, and forcing users to use bitcoin redemption. But it also attracted the attention of relevant government departments, the recent Changzhou City Commission by letter on the official website of the government issued a notice to prevent bitcoin blackmail virus, the contents are as follows:


The municipal and District People’s government, Geweiban Bureau, the company directly under the unit:


Recently, government departments, enterprises and institutions and personal computer virus infection bitcoin blackmail information security incidents occurred in our city. Bitcoin blackmail virus malicious operation in computer, browse all documents, pictures, including audio and video files, and the file is encrypted, so that users can not open. The user clicks on the document again, the program will pop-up dialog box to blackmail the user, the user must complete the bitcoin transfer operations within the prescribed time to the virus author, in order to obtain the decryption password, retrieve the original file.


Bitcoin blackmail virus mainly through e-mail attachments, download links, phishing emails sending users to download malicious virus file in site and web communication. The nature of the virus is bad, great harm, once the infection will bring immeasurable losses to the user. All localities and departments and units attached great importance to the extortion virus, do the following defense measures:


1, regulate online behavior. To understand the mode of transmission of ransomware, such as social media, social engineering, spam, phishing, malicious sites, paying particular attention to the need to download resources in a trusted site, download after killing the virus to open and use.


2, the multi-level network security strategy. Should take effective measures of network isolation, isolation of key business process, data and equipment to separate networks. Conditional units should adopt various means of protection mode of combining the construction of network security protection system, such as: Advanced threat protection, gateway anti-virus, intrusion prevention, email protection and other security tools based on network.


3, do the terminal protection. All the host response including a mobile terminal, protection measures, in addition to the traditional anti-virus software installed, should also include patch management, Web content filtering and active protection of the virus protection products.


4, the importance of data backup and recovery. Attaches great importance to data backup, data backup and reliable minimized losses can be caused by viruses. At the same time, security should do data backup, prevent infection and damage.


Information Name: Notice to prevent bitcoin blackmail virus


Index: 014109453/2016-00103


Subject classification: other genre classification: Notice coordinate classification: Other City Commission by letter: Business


Document number: Xin’an often do 2016 issued 26 institutions: City Commission by letter


Production date: 2016-11-04 release date: 2016-11-09


Description of content: bitcoin blackmail virus through e-mail attachments, download links, phishing emails sending users to download the virus file in a malicious web site and web communication, to do preventive work


Imminent bitcoin expansion

Imminent bitcoin expansion

    

Beijing time on September 26th morning, the core bitcoin developer GavinAndresen tweets said:

The total number of nodes in the network over Ethernet Fang bitcoin. When the block size prediction: Ethernet square chain over bitcoin, Ethernet square project leader will continue to smooth transition.

Block chain startup VeChainCTO, Chinese Academy of Sciences Dr. Shuai explained: at the beginning of the computer it is suggested that bitcoin network expansion has brought a lot of problems, but also predicted higher degree. Bubbe block chain Yang Fan said, no new service node, bitcoin is restrained, and the ecological community and the etheric Fang will gradually enlarge.


The bitcoin network depends on the size of the blocks, each block has a block size of 1MB, the current processing capacity is about 200 thousand transactions. In recent years, with the rapid development of bitcoin, bitcoin transactions are increasing in number, so the block free space is more and more small. In May 2015, GavinAndresen said the imminent bitcoin network problems, and puts forward the mode of branching through hard bitcoin, will raise the upper limit of block size to 20MB, scheduled for UTC March 1, 2016.

However, by 2016, the proposed expansion plan is not up to the same camp. TheVerge3 reported that bitcoin trading volume growth has brought tremendous impact to the network. Because the network processing capacity reached the limit, leading to worldwide large-scale transaction is delayed, part of the transaction or even fail completely. The average time required to confirm transactions surged from 10 minutes to 43 minutes.

GavinAndresen said that if the number of transactions for enough, the end result will be a saturated network, but will not produce what Xiamang live. “I think it might make people stop using bitcoin, because the transaction confirmation will become more and more reliable.” Because of this, a wave of thread laugh guess: GavinAndresen is not ready to turn.

However, the etheric Fang is also facing the same problem, before the date of the etheric Fang founder Vitalik published a purple book, discusses the possibility of Ethernet square expansion, but in fact, the early Shuai pointed out that at present the etheric workshops also have a mature work plan, expansion of the problem still can not be ignored.