2016 brought many things similar adjacent twelvemonth volition produce as well as years past times accept done. Vocal biased promoters of anything but bitcoin comprised of banks, corporations, consortiums, pessimists, haters, boat-missers, rage quitters, as well as only nigh anyone else that stood to brand a dollar if they could teach rid of bitcoin did anything they could to denounce bitcoin as well as its blockchain, declare the digital currency dead, as well as betoken everyone's attending to a novel uncovering that would live better.
The championship of this article plays on Block equally inwards blockchain but also agency Block equally inwards blocking universal blockchains such equally bitcoin as well as Ethereum. Most of the block attempts were bitcoin directed.
Sale Pitch of The Block
One rogue rage quitter wanted everyone to believe that bitcoin was dead but made certain he cashed out earlier promoting a toll crash.
IBM wanted everyone to believe that less safety is improve as well as only using their Cloudware would 1 notice the solution they seek.
Accenture wanted everyone to believe that immutable records are bad since they desire to delete things sometimes, a do that ended their 1 time hip-joined Arthur-Andersen.
R3 wanted everyone to believe that encrypted records providing the only safety that has never been hacked was a bad matter as well as only their Corda solution would 1 notice the solution they seek.
Ethereum as well as the DAO wanted everyone to believe a difficult fork was a goodness matter presenting copious reasoning as well as drawn-out technical explanations to saccharide coat the fact they only wanted to pocket their money back.
The DAO wanted us to believe they were besides large to fail.
Economists wanted us to believe that ignoring electrical current marketplace position information as well as looking at hand-picked information that made bitcoin appear to live dying meant bitcoin was genuinely dead.
Yet, bitcoin didn't die, blockchain applied scientific discipline exterior of bitcoins blockchain didn't produce much of anything, as well as the only efforts that made whatever exertion into the real-world involved bitcoin as well as its blockchain or universal world blockchains of which were based off the applied scientific discipline underpinning the bitcoin network. Markets continued to rise, fifty-fifty alongside novel altcoins, as well as of course.... bitcoin didn't die.
Block Efforts
Banks secretly declared an all-out state of war on bitcoin making every endeavor to destroy bitcoin businesses piece funding bank-owned efforts similar Corda as well as R3, only to starting fourth dimension exiting the exertion past times years end. Microsoft, Deloitte, Accenture, numerous banks, IBM, as well as many other large organizations threw eggs into baskets inwards seek of command over block-anythings piece giving anything involved alongside bitcoin a mutual frigidity shoulder.
IBM released cloudware as well as allot of folks looked, but nobody bought. R3 released Corda as well as although claimed none but positive reviews the actual reviews were less than favorable past times blockchain experts. Many companies as well as banks released tidings as well as press releases stating tests inwards controlled environments piece non-blockchain experts declared 2016 a twelvemonth of blockchain experimenting piece those blockchain experimenting years agone began releasing blockchain apps on bitcoins blockchain as well as on Ethereum.
v Block-GOODs
- Overstock - Overstocks T0 platform non only came to fruition as well as went live, it was approved past times the SEC as well as is currently inwards production.
- Purse.io - Purse went from a barely unknown offering inwards belatedly 2015 to a booming strength inwards the digital currency economic scheme offering products from merchant as well as trade from Amazon.com for 15% to 40% nether market.
- 21 Inc - 21's bitcoin API marketplace quietly entered much similar Purse as well as T0 only to solidify into a stiff as well as growing backbone of the blockchan of things.
- Openbazaare - While nevertheless growing, Openbizaare opened its doors without opening its doors equally the P2P only marketplace exists solely of interlink calculator software forming its networked marketplace. Naturally, bitcoin is the method of payment.
- ZCash - Zcash happened proving that alongside careful though, an practiced team, a goodness work concern model, as well as a stellar back upwardly team. Atlcoins tin nevertheless teach inwards the marketplace position as well as live successfull.
- Honorable Mention - Microsoft - Ethereum as well as the DAO meltdown aside, Microsoft showed it's novel administration of supporting the computing Blue Planet as well as the internet-of-things alongside bringing us blockchain-as-a-service as well as efforts to position tools inwards the hands of developers for all blockchain apps rather than edifice to a greater extent than blockchains of which nosotros accept far besides many.
v Block-BADs
- R3 CEV - After months as well as months of promises, hype of transaction that ended upwardly existence cipher to a greater extent than than unopen controlled testing, as well as a code unloose than many only shrugged shoulders at, the only existent tidings worthy occurrence was several of its ain banks were departing. After review of the Corda code, many experience this is no surprise,
- IBM - IBM released cloud-based software taking out almost all of the parts that brand a blockchain a blockchain, made dizzy statements indicating its administration were rather clueless nigh the technology, as well as followed things upwardly past times telling people its cloud was highly secure and non completely secure.
- Accenture - of the superlative 3 bad things, of which all 3 made meaning bonehead statements to media, Accenture may accept made the most idiotic statement inwards maxim that blockchain based fiscal transaction records (of which cannot live reversed heed you) needed the functionality of tape deletion. An statement which was amplified inwards stupidity given the Arthur-Anderson fiasco alongside Enron inwards the 1990's of which ended inwards a carve upwardly from AA as well as eventual mention modify from left-over Anderson to Accenture.
- DAO - What may accept been the most hyped theory of 2016 that was "too-big-too-failed" non only failed but crashed as well as burned then difficult its great-grandchildren may spontaneously combust upon birth.
- Ethereum - In 1 motion nether as well as conclusion without proper code review, planning, or apparent idea process, Ethereum took 1 of the most sought afterward functions of blockchain based systems as well as threw it inwards the trash damaging non only itself, but the applied scientific discipline equally a whole past times forcing a hard-fork against recommendations, history, its user-base, as well as mutual sense. It additionally spawned it's wicked twin, Ethereum Classic, who's sole existence may accept dissipated had it non been for the civil state of war that boiled post-hard fork as well as resulted inwards the manufacture equally a whole coming to the defence strength of ETC when it's large blood brother supports assault it from all directions.
- Runner-up - Circle- Circle did 1 of the coolest things for bitcoin inwards 2016, only to plough to a greater extent than or less as well as produce 1 of the most controversial inwards the industry. We all glorified their remarkable achievement when Circle for iMessenger was released, only to milk shiver our heads inwards disappointment when they spun to a greater extent than or less as well as stopped selling bitcoin, a model that many users used circle for solely leaving them feeling betrayed as well as pain several smaller businesses who depended on Circle equally a supplier.
Digital Currency Rising
2016 also saw altcoins, 1 time non considered viable, heighten inwards value as well as viability. Dash, Ether, Ether Classic, Litecoin. Ripple's XRP, as well as Z-Cash all fought for spots inwards the superlative 10 equally values exceeded $1 as well as ZCash was valued higher than Bitcoin at 1 betoken presently afterward its release.
Bitcoin steadily rose inwards value throughout 2016 as well as 1 time again, for the 3rd twelvemonth inwards a row, bitcoin outperformed both Gold as well as the USA dollar. In fact bitcoin 1 time once again outperformed every unmarried other currency inwards the world.
As of Dec 26th, 2016, bitcoin has broken 3 twelvemonth high records several times as well as has hitting $977.50 on the index hence far inwards 2016.
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| NOT Influenza A virus subtype H5N1 LIVE FEED - bitcoin toll Dec 29th, 2016 |
In add-on to novel value highs bitcoin's blockchain became the only existent highlight for blockchain applied scientific discipline equally Overstock's T0 as well as other offerings entered the real-world running on the bitcoin blockchain showing that despite all of the contrary efforts as well as declarations of bitcoins death, Bitcoin is undoubtedly non dead.
Most bitcoin companies, experts, as well as opened upwardly blockchain efforts supporting tokens remained relatively repose during the media slam as well as blockchain buzzword blast that took an identifiable applied scientific discipline called blockchain as well as diluted the term reducing it to a mere buzzword of lilliputian credential.
When blockchain looked positive, bitcoin was forgotten, when blockchain looked bad, bitcoin was blamed, yet, piece of cake as well as alongside steadiness, bitcoin continued to rise. Despite the efforts of commercial entities, rage quitters, money haters, over-controlling regulators, the mainstream media, as well as diverse other bitcoin as well as "public-blockchain" bashers ... 2016 undoubtedly ended upwardly the twelvemonth of the money as well as non of the block.
...and bitcoin didn't die.
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