motherboard.vice.com / JORDAN PEARSON / September 10, 2015 // 11:36 AM EST
Well, would you look at that—the sun rose this morning, and it’s another totally batshit day in the world of Bitcoin. A European Bitcoin exchange just threw 200 bitcoins the wolves, and users are scrambling to collect them, effectively DDoSing the entire network.
CoinWallet.eu, the exchange in question, is slowly releasing the addresses and private keys for Bitcoin wallets containing 200 coins split into thousands of tiny fractions for anyone to claim. The giveaway was positioned as a gift to the community, but the real intention was to spam the Bitcoin network without CoinWallet.eu ever having to lift a finger. At the time of writing, everything seems to be going according to plan.
As people scramble to get the coins, tons of transactions are being generated and even duplicated since everyone is trying to get the same coins, and it usually takes at least a few minutes for transactions to be confirmed by the network.
The end goal is to prove a point: Bitcoin needs an update so that it can handle wider adoption