Last Forking Warning For Bitcoin

ASDFnz writes "It has been just over two months since the bitcoin block chain was rocked by a near disastrous fork causing the bitcoin price to crash. The culprit of the crash was found to be a bug that prevented pre version 7.1 bitcoin clients accepting large blocks that could be generated by version 8 clients. A temporary fix was put into place by Bitcoin Project lead developer Gavin Andresen that forced version 8 clients to generate blocks that version 7.1 could understand. It is important to note though, the fix was a temporary one! In just under two days on the 15th of May the fix will expire and version 8 clients will once again be able to make large blocks that older clients will not be able to understand."

Re:Crap, the sky is falling

[roman_mir]

I was born in the USSR, I lived through a number of currency collapses just in THAT country and then after the dissolution through collapse of new currencies created AFTER that country collapsed.

Yeah, I remember.

I also know enough history and geography that if you want, I can name close to 50 currencies of top of my head that collapsed. Oh, USA also had that, it was called the Continental. Today it's called the Federal.

Re:Crap, the sky is falling

[bill_mcgonigle]

I am actually surprised the poor are not starting to band together and start killing the rich and stealing their stuff.

And that's why the rich banded together to cause the State to take money from the middle class and give it to the poor. Aka the "Progressive Era" (16th Amendment, Federal Reserve, etc.).

But, yes, that system cannot keep up with a collapsing currency. When I tell people who area concerned about the poor that the 1964 minimum wage was just under an ounce of silver per hour (~$1.25) and that today's value would be around $25 per hour, their eyes glaze over in disbelief. They cannot believe their State would do that to them, because the State cares for them like Mom does; it's not a bunch of corrupt, rich, and powerful actors only looking out for others to the extent it protects their own interests. It's especially unbelievable to Democrats who are bickering about the difference between $7 and $8 per hour. If I suggest to them that the difference in value has gone to the financial sector through steadily controlled inflation that has taken wealth out of local economies and sent it to the Wall Street/Financial Sector fatcats, they know for sure I must be one of those Occupy loonies. And forget about it if I tell them that 2/3 of their 401(k) appreciation winds up as fees to the same group - that Just Can't Be(TM).