“The economic crisis in Greece has turned some attention to Bitcoin again. The price of the digital currency has rallied over the past few days, partly because some Greeks have been snapping up the currency amid bank closures and cash withdrawal limits. But over the weekend, Bitcoin’s software provided a well-timed reminder of why it’s not the perfect financial system, either. Bitcoin transactions have been taking five times longer than usual to complete, according to Gil Luria, an analyst at Wedbush Securities. The problems stem from a new version of the Bitcoin software that runs on PCs and servers underpinning the currency’s decentralized system.”
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