Bitcoin Forum

Bitcoin miners create invalid currency after a botched upgrade

http://www.engadget.com/2015/07/04/bitcoin-miners-create-invalid-currency/

Digital currencies are only as reliable as their software, and some Bitcoin users are learning this the hard way. Thanks to a "problem" with an upgrade that applies a new rule, some Bitcoin mining pools (namely, those that don't usually wait to validate their money) have been generating invalid data blocks. If you're using certain client apps, that could lead to making transactions that aren't really valid -- and mining operations that ran afoul of the change are losing income.

I actually thought it would not take long for someone to jump on that band wagon.

I wonder if the counterfeit fiat money in the world is also a botched upgrade? http://www.fraudfighter.com/counterfeit-detection-id-verification/bid/75858/How-much-fake-money-is-in-circulation

or

https://en.wikipedia.org/wiki/Counterfeit_United_States_currency  {an estimated $70 million in counterfeit bills are in circulation}

How much of the legal fiat money is printed out of thin air? It's not backed by any real value.... This has been proven over and over again.

Bitcoin is not perfect, and it has some flaws just like any other currency in the world.  ;)

I'm not sure what they mean by botched upgrade. The upgrade was completely fine, the pools were not, their software was not up to par to what they were committing to and they started mining on a wrong chain. As simply as that, their own fault, and if it wasn't the devs and the community they would have taken themselves further inside the ditch...


Excellent post!