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11/12 March 2013 Chain Fork Information

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What happened

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+A bitcoin miner running version 0.8.0 created a large block (at height 225,430) that is incompatible +with earlier versions of Bitcoin. +

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+The result was a block chain fork, with miners, merchants and users running the new version of bitcoin +accepting, and building on, that block, and miners, merchants and users running older versions of bitcoin +rejecting it and creating their own block chain. +

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What is being done

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+Large mining pools running version 0.8.0 were asked to switch back to version 0.7, to create a +single block chain compatible with all bitcoin software. +

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Questions & Answers

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I'm not a miner or a merchant, what should I do?

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+Nothing. Your bitcoin software will switch to the correct chain automatically, no matter +which version you are running. +

+

Are my bitcoin safe?

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+Yes. +

I'm a merchant accepting bitcoins, what should I do?

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+If you are running version 0.8.0, there is a small risk that payments with more than +6 confirmations could be double-spent on the 0.7-compatible blockchain. The risk is small +because this is not a network split-- transactions are being sent to both sides of the +chain split, and it is unlikely (but possible) that somebody could get two versions of the +same transaction into the two sides of the chain. +

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What will be done

+

+The core developer is investigating exactly what causes the old versions to reject the new +blocks, and will release a 0.8.1 version that avoids creating blocks that are incompatible with +older versions. +

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+ This notice last updated: 12 March 2013 02:45 UTC +
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