Despite the activation SegWit and testing methods of scaling, such as Lightning Network, the Bitcoin is experiencing a crisis Novyi. In the pools the memory of the miners has accumulated more than 200 thousand transactions, some remain unconfirmed for more than 24 hours, despite the high Commission. Exchanges are overloaded and complain of DDoS attacks. Of course, the main reason for that is the huge price highs and the large swings that make people get out of their bitcoin wallets and send them to the exchange and to the exchange or to take out and make translations for arbitrage.
Because of price spikes Bitcoin, it is easy to lose sight of its use as a medium of exchange, which rely on hundreds of thousands of people. On the value of the dollar in the digital currency say the majority of the headlines, but they distract from the very important point: the inability to quickly carry out the transaction.
In the last 24 hours sales of bitcoin approached $29 billion, five times more than in November. Bitcoin is traded on exchanges, does not affect the blockchain, because all the action takes place outside the network. Nevertheless, record demand for cash and the huge trading volume indirectly affects the cost, as users expect send money to exchanges and from the exchanges.
If Piccolomini will continue, maintaining the current rate, a 24-hour trading volume exceeds daily average level of $50 billion, the corresponding volumes of the new York stock exchange.
The former of the hedge Fund Manager James Cramer commented: «I don’t want to talk about when the party will end, because maybe we are already moving to Mars. Maybe even Jupiter.»
The Chairman of the Royal Bank of Scotland Howard Davis described it as «irrational exuberance» and urged the exchange to postpone the introduction of futures trading.
Earlier this week, Bitcoin enthusiasts laughed at by afirmam whose mempool was scored cryptocotyle, now experience mega lag came his turn. And if the Commission was $7, many users complained that their transaction was not confirmed in manule for 24 hours or more, then it rose to $32.
Wildly divergent price of bitcoin on major exchanges theoretically created huge arbitrage opportunities, but in practice nobody could benefit from them due to the clogging of Nampula. And despite the fact that now almost all new units are larger than 1Mb, to eliminate the «tube» in the blockchain will be possible soon, since the percentage used Segwit transactions remains below 15%, and other ways of increasing network bandwidth and n appeared.