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Bitcoin is a digital currency where anyone can buy it and transfer it anyone in the world with very less transaction fee over cash transactions. Most interesting feature is that the transactions are simple & easy, not scrutinised by any regulators and can be reached by the recipient in few seconds. Since this is neutral currency, it and converted to any currency in the world. One can buy anything with bitcoin, just like cash.  

The constant devaluation of Chinese Yuan has further pushed the bitcoin share price, BTS, to above $700 mark yesterday, leaving speculations that it can go further. Since the begging of October, the price rise of this stock steady. This in response to the closing remarks from Huang Shiliang, the famous Bitcoin advocate in China, at mining conference in Chengdu, that Bitcoin is reviewing the Bitcoin scaling its operations to handle more transactions per second.

Charles Hayter, CEO, CryptoCompare, said: "The Bitcoin Core team is the heir apparent to Satoshi's initial vision of Bitcoin and is a developer based group who prefer elegant solutions to problems than rough and ready workarounds. This has often led to accusations of inactivity as well as autocratic leadership in the ecosystem. One practical consideration is the space needed to store the blockchain when operating a full node amongst other technical limitations which Bitcoin Core have been urging caution with.

"Bitcoin Unlimited are the challengers to the status quo in what is not only a battle for the next steps, but a battle for power and shaping the industry on philosophical tenets and for vested interests. Although critics of their approach say their mechanisms are not fully thought through in long term effects on network stability," he said.

At present, transactions are limited 1Mb per 10 minutes or roughly equals to 3-6 transactions per second. This essentially increases the block size per transaction. Other news that added weight to the speculation and surge the price could be that AT&T is actively looking to patent the Bitcoin servers. This can lead to potential and exponential growth in Bitcoin as it enables Bitcoin to enter into micro transactions in the future.