Bitcoin is more expensive than gold

in #bitcoin7 years ago (edited)

Bitcoin is known for its instability and in the middle of 2015 it fell to $ 200 for bitcoin. And in 2011-2013, generally worth the cents. But since the fall of 2015, bitcoin began to grow in value. And in early 2016 bitcoin cost a thousand dollars. On Thursday, March 2, bitcoin reached another limit and surpassed in value a troy ounce of gold. An ounce of gold cost 1233 dollars, while one bitcoin cost 1268 dollars. Now an ounce of gold is worth $ 1279

Despite the fact that the block is considered to be a reliable tool, sometimes such failures occur in such systems, as in 2015 some sites incorrectly processed some of the invalid blocks that were taken as valid, which resulted in losses of about 50 thousand dollars. Also, the payment system has a known weak point - its performance can be broken with the help of "dust" - this is what spam calls microtransactions of the size of 0.00001 BTC. During one of these attacks in 2015, the largest transaction chain in the size of one block was processed in the history of the system.

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