The CrowdStrike Outage and It’s (Lack Of) Impact on BTC
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In the event you had been one of many thousands and thousands of individuals affected ultimately, form or kind by ‘The Nice CrowdStrike Outage’ of 19 July, 2024 – we’re sorry.
As everybody with even the smallest quantity of entry to information is aware of, late final week CrowdStrike had an outage which impacted every little thing from authorities places of work, to banks, and naturally, airways.
However it was enterprise as ordinary for Bitcoin.
Crypto nerds (like us) are continually touting how vital decentralized methods are – but it surely’s uncommon that we truly get an opportunity to showcase simply why that’s the case in such a tangible method.
Right here’s what occurred to BTC final Friday:
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Bitcoin miners – who’re largely utilizing Linux-based frameworks – did not go down.
In reality, roughly 144 new blocks have been mined every day between the beginning of the outage and the time of this writing which is on par with the weeks previous to the outage.
(In the meantime, many banks throughout the globe did).
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The worth of BTC rose from ~$63,500 as much as ~$68,000 (roughly 7%).
Whereas the worth of just about all publicly listed banking stocks dropped throughout buying and selling hours on Friday.
So whereas we proceed to consider that BTC can solely work inside the present system (and also you shouldn’t put your entire investments into any particular person asset class), The Nice CrowdStike Outage of 19 July, 2024 illustrates but once more the ability of decentralized networks and methods.
To cite Taras Kulyk, the founder BTC mining firm, SunnySide Digital: “tick tock, subsequent block.”
