"A block that had a larger number of total transaction inputs than previously seen was mined and broadcasted. Bitcoin 0.8 nodes were able to handle this, but some pre-0.8 Bitcoin nodes rejected it, causing an unexpected fork of the blockchain"
Nodes were upgrading from Version 0.7 to 0.8 and an unexpected fork occurred that should have been resolved automatically but didn't.
The issue was resolved by (2) of the largest mining pools temporarily downgrading their nodes to Version 0.7.
@jgarzik This downgrade allowed a majority of the hashpower coming from the two pools to accept the forked chain without the large block that caused the issue.
Version 0.8.1 was released and the next block with the patch was accepted, forking nodes off the network that were unpatched.
@jgarzik Due to these two incidents in Bitcoin's infancy, the #bitcoin network has been running 99.98824067% of the time since it began in 2009.
And Bitcoin has been running with 100% uptime since the 2013 issue.
But the fact that both of these incidents were resolved by Bitcoin devs within hours of occuring gives me confidence that the Bitcoin network will remain resilient.
10 compelling quotes on #Bitcoin by the world's most famous billionaire investors.
THREAD ๐งต๐
1. Paul Tudor Jones
"Bitcoin is math and math has been around for thousands of years. I like the idea of investing in something that's reliable, consistent, honest, and 100% certain."
Net worth: $7.5 billion (370k BTC)
2. Chamath Palihapitiya
"It's [Bitcoin] money 2.0, a huge huge huge deal."