Dan Held, the development director of the Kraken exchange, posted a video on the main cryptocurrency subreddit, which claims that Bitcoin has already maintained a longer operating time than Amazon, Google and Facebook.
Bitcoin has a higher uptime than every major tech company. Good luck trying to stop it. from r / Bitcoin
Specifically, the Bitcoin network operated 99.985% of the time since its launch, with only two incidents before 2013 when activity was suspended.
In 2010, a “value overflow incident” caused two Bitcoin addresses to mistakenly receive 92.2 billion coins each. In this case, the network was offline for eight hours and twenty-seven minutes before a softfork actually canceled the troubled transactions.
In 2013, Bitcoin fell again after a block was rejected by certain miners who used different versions of the Bitcoin client. This led to a split in the chain, which was resolved after six hours and twenty minutes, when the miners reorganized the same customer.
Can we say that the Bitcoin network worked non-stop?
After this incident, the network operated non-stop. As a percentage, however, Bitcoin needs another 2,887,353 minutes (approximately 2005 days) to reach 99.99%.
When it comes to comparisons, such as the one made by Dan Held on Reddit, there will always be criticism. For example, some users have commented that Bitcoin should not be compared to tech companies, but to other currencies. They claimed that payments with the US dollar, for example, were 100% functional.
Others dispute this, claiming that the US dollar had a period of stagnation. A 2017 Reddit post pointed out that hyperinflation and other monetary policies have blocked the first version of the dollar. Four years later, it returned to the dollar we know today. Those four years put it at 98.36% uptime, less than Bitcoin.
The bottom line is that people can argue on any topic, but Bitcoin remains the most popular cryptocurrency.
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