If the Bitcoin crash happens, it will be really, really ugly

last week, Bitcoin sceptics had been caution that the virtual foreign money's armageddon moment become just across the nook.

The release of CBOE Bitcoin futures, an possibility for predominant traders to short something that many trust to be a bubble, seemed just like the second that the adrenaline-fuelled spike in Bitcoin's rate, up 1,600pc this year, could come to an end.

nothing of the kind happened. In truth, Bitcoin's flow into the mainstream has dampened its well-known volatility. so far this week, its fee has moved by means of on average 4.2pc an afternoon, towards eight.9pc remaining week. Bitcoin has been buying and selling at more or less $16,500 (£12,400) for a few days now.

however the relative serenity of its charge ignores a unique hassle. In latest days, the Bitcoin network itself has been creaking. The rate of making a transaction has soared, as has the time it takes to complete one. this means that if Bitcoin does take a downturn,...