Dual identity, battle against governments, competition from other cryptocurrencies, scalability among other factors make innovation inevitable if Bitcoin is to survive.
In a Vanbex Group report of April 4 2016, Brandon Kostinuk has compared the attempt to describe BitcoinCT r: 8 as a currency or an investment with trying to discern whether light is a particle or a wave. The correct answer of course is, it’s both, he says.
In his analysis , Kostinuk points out that Bitcoin faces a multitude of battlefronts that may obstruct it from further pushing into the mainstream, as a universally accepted currency.
Whether from within, externally, or fundamentally, through design or accident, Bitcoin is up against the real-world pressures of accommodating to wide-spread use. Most notable is the question of scalability, which, if left unsolved, will almost certainly spell disaster for the invention of Satoshi Nakamoto . ‘Developer fund’ could rescue Bitcoin
Positive news arrived last week with the announcement of a $900,000 Bitcoin Developer Fund for MIT’s Digital Currency Initiative, the institution’s first foray into the Bitcoin and blockchain world.
The money, which came from a range of Bitcoin-related (or dependent) companies will help fuel the continued work of Bitcoin Core developer Cory Fields, former Bitcoin Core lead maintainer Gavin Andresen and current Bitcoin Core lead maintainer Wladimir van der Laan. The trio arrived under the wing of MIT last August, a saving grace from the funding constrictions as a result of the Bitcoin Foundation’s collapsing profitability.
Motherboard’s Christopher Malmo has written a good piece on the $900k announcement titled, “To Survive Long Term, Bitcoin Needs a Break from the Real World.”
In his article Malmo comes to the following conclusion: “Taking it off the line and into the academic realm could just be the shot in the arm that bitcoin needs to move forward with new […]
