Photo: ReutersHong Kong/Tokyo: Bitcoin soared past $4,000 for the first time on growing optimism that faster transaction times will hasten the spread of the cryptocurrency. The community was then divided between the SegWit2x solution backed by a group of developers and another supported by miners that sought a larger increase in the block size. Its next stage involves doubling the block size to 2 megabytes some time in November, a possibility that’s still mired in debate. Reduced support could thwart this step, with some arguing that Bitcoin Cash—with a block size of 8 megabytes—has obviated the need for another “hard fork” to upgrade the bitcoin again, Hayes said. Every $1 million of marketing brings new demand, which increases the price as the supply is limited by design.” Bloomberg

Source: Mint August 14, 2017 07:52 UTC