Bitcoin transactions jump following consensus on how to scale the currency

On the February 23, 2016, bitcoin saw the highest number of bitcoin transactions so far in a single day. According to a tracking graph on, there were about 260,578 transactions in the day.

The highest peak before this was in October, 2015, when about 241,346 transactions were carried out in a single day.

This February surge came just a few days after representatives of the bitcoin mining community, core developers, and entrepreneurs met in Hong Kong and arrived at a consensus on how to move forward with scaling the bitcoin block size.

It is easy to interpret the rise in transactions as a result of the confidence that the consensus has injected into the bitcoin market.

For some time now, it has been a general belief that the seemingly never-ending wrangling within the bitcoin community on how to scale the bitcoin network is affecting the image of bitcoin negatively.

The network always responds appropriately

The metric that has always been used to point this out is the movement of the price of bitcoin. A typical example is when Mike Hearn, one of the core developers, left the project in January 2016 and described it as a failed experiment in a hard hitting

Read more ... source: TheBitcoinNews

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