Why We’re Temporarily Shutting Down Bitcoin Vending Machines on July 31st

In a recent, in-depth article, I discussed the out-of-control fees to send bitcoin. The executive summary is that Bitcoin is somewhat broken due to the high fees that have been caused due to the Bitcoin network not being able to scale to consumer demand. The reason for this is because there has been an ongoing “geek war” for a couple years now behind the scenes that centers over some fundamental disagreements over how Bitcoin should handle its growing pains with scaling up.

Meanwhile, the fees have been rising over the last six months and have killed off the previous usefulness that Bitcoin had for microtransactions, or even small dollar transactions. Again, see my original piece for more about the fee difficulties. | More…

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