Bitcoin XT Civil War and Other Bitcoin Stock News (MSFT, FB & AVRN)

A debate over Bitcoin XT plus other Bitcoin news involving Microsoft Corporation (NASDAQ: MSFT), Facebook Inc (NASDAQ: FB), which is in our SmallCap Network Elite Opportunity (SCN EO) portfolio, and small cap Bitcoin stock AVRA Inc (OTCMKTS: AVRN) dominates this week’s cryptocurrency news:

Bitcoin XT Debates. For several months, developers and Bitcoin users have debated the merits of increasing the “block size,” a record of recent transactions that currently has a 1MB limit, as increasing it would allow more transactions on the network at once, helping it to scale up to meet growing demand. However, it would also make it more difficult for ordinary users to host full network “nodes” that validate new transactions on the network, potentially making the digital currency more centralised as a result. To force a solution, the group in support of larger block sizes, led by Gavin Andresen, released Bitcoin XT on Saturday. It’s running as a concurrent system, open to anyone to download and run. If it gets to a point where it comprises 75% of the blocks being mined, the remaining 25% will have two weeks to switch over to the new system. However, not everyone is happy as Mike Hearn, one of the core developers, explained on Medium where he invoked the name and vision of Bitcoin’s founder, Satoshi Nakamoto:

“Satoshi’s plan brought us all together. It changed the lives of hundreds of thousands of us across the globe. Some of us quit our jobs, others devoted their spare time to the project, still others founded companies and even moved across the world. That vision is now in jeopardy. In recent months it’s become clear that a small group of people have a radically different plan for Bitcoin.”

A Yearlong Trip Around the World Using Only Bitcoin. Reuters has a story about Felix

Originally appeared at: