One week ago to the day, the entire BitCoin network was closed due to a malfunction on the centralized transaction processing system.
Bitcoin is capable of processing one transaction every single minute, but in order to do that, a powerful Pentium 386 processer must add two numbers together. That computer failed when it’s 4 MegaByte LP45 hard drive ground to a halt.
That is not surprising. What is surpsising is that not a single person in the world noticed during the now one-week-long down period.
Researchers are theorizing that maybe they can get a new hard drive in a few months. The other problem is getting the perennially grumpy old Mr. Nakamoto to open his garage door and allow the researchers to access the computer where the blockchain is running.