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Mike Caldwell, a 35-year-old software engineer, holds a 25 Bitcoin token at his shop.(Rick Bowmer, AP, file) Cape Town – Digital wallet service BitX has rejected the notion that Bitcoin could be doomed amid fierce debate over the cryptocurrency's future.“It is a bit misguided to say that if Bitcoin loses market share, or if the community fails to reach consensus on the block size today or if the exchange rate suddenly drops that it would be a considered a ‘failure’,” Werner van Rooyen, business development manager at BitX told Fin24.Van Rooyen was responding to Vinny Lingham’s comments that 2016 was a “key year” for the cryptocurrency.READ: Bitcoin faces make-or-break 2016 - Vinny LinghamWerner further dismissed reports of a “war” in the Bitcoin community which would undermine the currency which is not supported by any government as a trading platform.Debate in the Bitcoin community is currently raging over whether or not the service should increase its block size, which sits at 1MB.Bitcoin blocks are batches of transactions that are confirmed and shared on the cryptocurrency’s public ledger, which is called the blockchain.bitcoin bid ask

These block sizes are said to filling up quickly which could result in transactions slowing to a crawl.Earlier this year, a fork of the crytocurrency called Bitcoin Classic was released which has increased the block size to 2MB.“It's a debate, not a war and that is the beauty of the Bitcoin open source system - things get debated ad nauseam before any major changes are made.We will ensure uninterrupted support for whichever permutations Bitcoin goes through over time.”Globally, Bitcoin is experiencing growing adoption with 225 000 transactions per day in February (peaking at 276 448 in March), versus an average of 100 000 transactions in April 2015, according to Blockchain info.Singapore-based BitX, which has offices in Cape Town, continues to expand Bitcoin in developing markets like Africa, despite the debate around the cryptocurrency's future.litecoin bitcoin price chartOn Thursday, BitX announced a partnership with online trading platform bidorbuy which will begin accepting the cryptocurrency as payment.“Bitcoins are convenient and easy to use and although relatively new, the virtual currency has a lot of growth potential.bitcoin gdzie

Our partnership with BitX is an integral part of our efforts to always offer the latest, innovative solutions to our users,” said bidorbuy chief executive Jaco Jonker in a statement.The bidorbuy deal is further expected to help expand e-commerce in African countries which have weak financial systems, said BitX."Thisintegration is also a big milestone in terms of opening up the wider Bitcoin ecosystem in Africa, and should have a strong positive effect on the broader industry," said BitX CEO Marcus Swanepoel of the partnership.During checkout on bidorbuy, buyers will be given multiple payment methods and the Bitcoin exchange rate will be guaranteed for 10 minutes by BitX.Van Rooyen argued that the platform was robust and had the momentum to increase e-commerce.“I've read many Bitcoin obituaries over the past few years, and to paraphrase Twain, the rumours of Bitcoin's death have been greatly exaggerated.”* BitX has received $4m in funding from Naspers.ethereum nvidia miner

Fin24 is subsidiary of Media24, which is owned by Naspers.- Follow Duncan on Twitter e-commerceThe Bitcoin Foundation has announced the appointment of Cape Town-based venture capitalist Llew Claasen as its executive director.Claasen, alongside Vinny Lingham, runs VC firm Newtown Partners, which has invested in a number of South African companies, including and .He was elected to the position of executive director of the Bitcoin Foundation, which is focued on increasing the adoption of bitcoin and fostering more development, by a board of directors vote on June 14.bitcoin poker pool“I’m looking forward to leading the Bitcoin Foundation going forward.view litecoin walletThere is an amazing opportunity for the organisation to help the bitcoin ecosystem.safest bitcoin bank

In the coming weeks I’ll be working closely with the board, membership, transition team and various stakeholders to create the best plan for success possible,” Claasen said.Outgoing executive director Bruce Fenton said Claasen’s skill set was exactly what the organisation needed now.“The foundation is in a great position and in great hands.I look forward to supporting Llew however I can in this exciting new chapter,” he said.Lingham, who is also a board member of the foundation, said he had known Claasen for many years and have worked with him in several capacities.giá bitcoin giảm mạnh“I think he will be a perfect fit for the organisation as we build on the significant progress we have made,” he said.bitcoin dump private keySA’s New Economy Accelerator to showcase BoP startups to investors Kenyan startup wins share of $50k at US tech innovation competition About Author