Is the bitcoin civil war reaching a truce?
Only through price discovery can we decide that. The cryptocurrency has been in a battle between the two camps involved in the decentralized digital currency that has been beating it down since hitting an all-time high in mid-May of more than $3,200.
The new bitcoin software was unveiled over the weekend as the miners (those who look for the code on the net) and the developers known as Core (which maintain the code and keep it stable, bug-free).
The new software, called SegWit2x, is seen as a compromise between the two camps. As truce talks continue, through adoption of the code, bitcoin’s price rebounded from $1,750 over the weekend to trade Tuesday morning $2,265.
Part of the software fix was to help scalability of bitcoin as well as speeding up payment transfers to help with payment systems, which other lesser cryptocurrencies have going for them.