Bitcoin is bigger than a protocol. The mt gox fiasco brought out the best and brightest in the community to defend BTC. It's also clear that lying and cheating will not hold up in the community for very long. This will be even more so as the bitcoin protocol is used to create decentralized exchanges.
Transparency isn't only the block chain, but it's the entire community checking itself so that it can continue to grow in trust. Reporters used to have newspaper scoops, but we now have people on reddit posting leaked documents with commentary by everyone - from new users to seasoned programmers. More and more the news media is coming to the community for the real "story". They didn't stay with the "bitcoin is broken" story for very long only because of the community interaction.
This is a self cleaning mechanism. That's why bitcoin gets stronger after each one of these instances. The system is finding its legs in an organic way.
About time for an upvote button to be added. Transparency isn't only the block chain, but it's the entire community checking itself so that it can continue to grow in trust. Reporters used to have newspaper scoops, but we now have people on reddit posting leaked documents with commentary by everyone - from new users to seasoned programmers. More and more the news media is coming to the community for the real "story". They didn't stay with the "bitcoin is broken" story for very long only because of the community interaction.
This is a self cleaning mechanism. That's why bitcoin gets stronger after each one of these instances. The system is finding its legs in an organic way.
