Bitcoin: More than Money
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The price of Bitcoin BTC continued to soar on Thursday, creating chaos among those trying to buy and sell the cryptocurrency currency due to service trouble at several exchanges. Coinbase's status page reported delays in outgoing BTC transactions, poor performance, and ID verification problems. GDAX's status page showed ID verification problems in the early morning, followed by performance degradations for about an hour.
Bitfinex said it was "investigating a new push in the ongoing distributed denial-of-service attack against Bitfinex. Kraken said it was experiencing partially degraded performance. On Twitter, traders moaned they can't do arbitrage when it takes several hours to send Bitcoin between exchanges.
Other complained about being unable to withdraw BTC. Of buy cigars with bitcoin use on the rise, not everyone was shut out. Bitcoin's popularity with miners, traders, and sellers of cryptocurrency picks and shovels hasn't made it more appealing game service Steam.
But elsewhere there's still enthusiasm. A week ago, the Hong Kong office of global accounting firm PwC said it has begun accepting Bitcoin as payment for its advisory services. And as long as Bitcoin keeps rising, there will be those willing to overlook the challenges of dealing with the digital currency.
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