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Bitcoin Explodes Above $2400 After China Downgrade, Scaling Agreement Reached
Bitcoin is up fopr the 26th day in the last 29 sessions, doubling in price in that period...
Wednesday's gain comes after a bitcoin scaling agreement was reached by the Digital Currency Group,representing 56 companies in 21 countries, at the Consensus 2017 conference in New York, which reduced some of the fears surrounding the so-called 'hard fork' in Bitcoin's code. The agreement states:
"We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2Mb proposal:
"Activate Segregated Witness at an 80% threshold, signaling at bit 4
"Activate a 2 MB hard fork within six months"