While interest in bitcoin has faded into a near distant memory, in most of our of staring eyes, since the popping of its last impressive bubble, the collapse of Gox, and the ensuing hooblah… beneath the calm, still water of disinterest, something is stirring. Unbeknownst to myself, while I was been tuned out of the cryptoworld, watching
Ancient Aliens and ESPN, the gears have been turning in the crypto underground.
The elves have been at work, developing an elaborate infrastructure, and the hazardous monstrosity that bitcoin once was, is now morphing into an entirely new creature. One that just a few years ago would have been considered highly improbable. And dare i say that this new Bitcoin is getting… Sophisticated?The big players have come to play, and have taken to the task of tackling the main setbacks that were hindering the growth from bitcoin expanding further. The main hindrance has been a lack of structural integrity in the networks infrastructure, but it appears that Bitcoin is overcoming this. With many obstacles to come, many obstacles are dissolving fast. Right now, it could be argued that the first legitimate platform built to effectively and excellently decipher this enigmatic algorithm for the common folk is coming of age. But most don’t seem to notice because they’re still staring into the chasms of possibilities of ancient aliens – I’m assuming everyone is hooked on that show and that is why they aren’t tuning into reality.
In the quiet, behind the scenes, like the shoemaker elves, they work unbeknownst to the public eye, preparing to offer effective solutions to bitcoin’s earlier years of endless and near hopeless problems. Of these problems, insecure exchanges and failing experimental platforms led to the most losses both in money and morale. Mt. Gox, the largest exchange holding the majority of bitcoins, suddenly evaporated into thin air before everyone’s eyes, leaving many robbed of their crypto. Unregulated, the bitcoin network has shown to be dangerous, with pitfalls and booby traps to watch out for while feeling your way, blind, through the perilous crypto landscape of hackers, corruption, and slews of nearly unknowable variables.
Reminiscent of the wild wild west, the bandits robbing trains are now hackers and corrupt business operators. Unfaltering reputation remains a key source of trust, but many-a-time reputation is built only for the extended trust benefit, before taking off with that much more loot, as victims fully open themselves to the disciplined con artist. We still have a long way to go on all this.But worth looking at is Bitcoin’s massive gains in infrastructural developments. The Bitcoin creature is yet a fetus but its features are becoming clear. An active immune system is maturing, and distinct signs of evolution are clear.
Full Story: http://altcoinpress.com/2015/06/bitcoins-recent-morph-into-an-entirely-new-animal-in-embryo/
