US Banking System Suffers Outage: Crypto Fans Cheer
Criticism of the Fed is unwarranted.
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Bitcoin Does Not Solve This
At one point during the height of crypto euphoria, there were over 250,000 unconfirmed transactions. Sending Bitcoins was only possible by setting a $50 fee. Users who set a fee below $10 had to wait about three weeks for their payment to be cleared — effectively equivalent to a serious localized outage.