Bitcoin Value Drops 23 Percent After Software Glitch Discovered

"Early this morning, a Bitcoin block too big for version 0.7 was mined by miners using version 0.8, creating a fork in the blockchain.

The issue is a setback for Bitcoins, which have seen increased acceptance and adoption over the past few months, including a number of web hosts that have begun accepting Bitcoin payment. Most recently, Namecheap offered customers the option to pay for hosting or domain services with Bitcoins.

Recently, online training provider CBT Nuggets released a new, free series on Bitcoins to help merchants start accepting Bitcoin payment.

Read more:Bitcoin Payment and Web Hosting Is Digital Currency an Opportunity?

Talk back: Do you think this glitch is a setback for Bitcoin adoption? Do you accept Bitcoin payment for your hosting services? Let us know in a comment.

by Nicole Henderson on Thursday, December 6 2012

December 6, 2012 Bitcoins can be used to pay for a variety of goods and services online. Some of the first purchases made using the digital currency when it was established three years ago are believed to have been pizza and alpaca socks. Since then, Bitcoins have evolved and now are used in many legal (and illegal) ways. Most recently, SwitchPoker launched Bitcoin only poker tables, and WordPress began accepting Bitcoin payment for upgrades to customer blogs. Read More

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