Threat­ened bit­coin split off the ta­ble tem­po­rar­ily

Austin American-Statesman - - BUSINESS - By Ryan Nakashima Bit­coin

On the eve of a ma­jor change in bit­coin, a threat of a split in the dig­i­tal cur­rency has been avoided — for now.

A move by users to force a change in the com­puter code by Mon­day has worked. A ma­jor­ity of “min­ers” — the core bit­coin users who ver­ify bit­coin trans­ac­tions around the world — has sig­naled sup­port.

Though the change is de­signed to im­prove ca­pac­ity on the in­creas­ingly clogged network, some min­ers had ob­jected be­cause it could re­duce trans­ac­tion fees they col­lect.

The show of sup­port has helped re­v­erse a slide in the value of bit­coin from around $1,900 two weeks ago to roughly $2,800 on Mon­day.

How­ever, some un­cer­tainty

MARK LENNI­HAN / ASSOCIATED PRESS 2014

A man en­ters a bit­coin trade con­fer­ence in New York. A dis­pute be­tween fac­tions of the tech com­mu­nity that sup­ports the dig­i­tal cur­rency had threat­ened to split bit­coin into two in­com­pat­i­ble cur­ren­cies.

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