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After an unprecedented boom in 2017, the price of Bitcoin fell by about 65% from 6 January to 6 February 2018. Subsequently, nearly all other cryptocurrencies followed Bitcoin's crash. By September 2018, cryptocurrencies collapsed 80% from their peak in January 2018, making the 2018 cryptocurrency crash worse than the dot-com bubble 's 78% ...
Up until July 2017, bitcoin users maintained a common set of rules for the cryptocurrency. [138] On 1 August 2017 bitcoin split into two derivative digital currencies, the bitcoin (BTC) chain with 1 MB blocksize limit and the Bitcoin Cash (BCH) chain with 8 MB blocksize limit. The split has been called the Bitcoin Cash hard fork. [139]
SegWit opponents, who supported larger blocks as a scalability solution, forked to create Bitcoin Cash, one of many forks of bitcoin. [36] In December 2017, the first futures on bitcoin was introduced by the Chicago Mercantile Exchange (CME). [37] In February 2018, the price crashed after China imposed a complete ban on bitcoin trading. [38]
Proof-of-work blockchains such as bitcoin, Ethereum, Litecoin, and Monero were estimated to have added between 3 million and 15 million tons of carbon dioxide (CO 2) to the atmosphere in the period from 1 January 2016 to 30 June 2017. [260] By November 2018, bitcoin was estimated to have an annual energy consumption of 45.8TWh, generating 22.0 ...
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