in

100% uptime

On January 3rd, 2009 the first bitcoin block was mined. 11 Years and 2 months Ago. Since then, the network has maintained 100% uptime. This makes bitcoin and other crypto the most stable computer system on earth. Not only for currency but for the transfer of anything that is digital that needs to be separated in units. The first message posted when bitcoin was mined ironically was that the banks were on the verge of being bailed out. Last week, the federal reserves intra-bank transfer system went down. https://www.cnbc.com/2021/02/24/the-feds-system-that-allows-banks-to-send-money-back-and-forth-is-down.html. Yet, bitcoin and other crypto currencies have never gone down(as a system, not price). This is huge. So what if a transaction takes a couple minutes? Knowing the system will never go down should bring people more peace knowing that they are using the most reliable currency system ever created(as long as you use it right). We have all gotten way too caught up in worrying about transfer speed or transfer fees. The market will sort those things out. What’s important to realize is we now all have the most reliable transfer system man has ever created, and we all have access to it. The federal reserve should be jealous.

Edit: I did realize after some comments there was one instance where a rewind happened. It was before I bought in though. Minus the one event, it would be 100% uptime.



View Reddit by 111ascendedmasterView Source

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

13 Comments

  1. > Since then, the network has maintained 100% uptime.

    You wouldn’t consider the rewind of the blockchain that all nodes had to do in 2010 to counteract the overflow bug that was exploited in block 74638 downtime? Any transactions that completed after that block on the old chain were lost forever. Sure, they could be retransmitted by their senders, but in a transactional system you can’t just ask for a “do over” and still claim 100% uptime.

  2. Just think, how many times you’ve logged into your bank or credit card company and the system was down…. no one has ever had to worry about a crypto wallet going down….

  3. That’s a good point that I think is often overlooked. What other system can boast the same? Computers go down, get hacked, lose power, etc which can cause chaos if the timing is right. 11 years without any down periods is incredible and yet another reason why blockchain tech is the way of the future.

Loading…

0

What do you think?

Shark Tank's Kevin O'Leary Joins the Bitcoin Club With a 3% Allocation

Shark Tank’s Kevin O’Leary Joins the Bitcoin Club With a 3% Allocation

These Are the Four Most Explosive Crypto Assets on the Market, According to Trader Ben Armstrong

These Are the Four Most Explosive Crypto Assets on the Market, According to Trader Ben Armstrong