HEARTBLEED: Is it the end of the internet? No.
Technology always needs improvement. It does not matter how old or how developed it is, there will always be a need for software upgrades.
Bitcoin is often judged in the media for its flaws. Anytime there is a minor bug, it is blasted throughout media channels and the bitcoin naysayers jump on the opportunity to say “see, I told you so!”
These critics fail to understand that 1.) Bitcoin is a new development, less than 6 years old and is being further developed every single day and 2.) this is more than common when it comes to technology.
What can these issues be compared to? What similar technology exists that has had development issues?
Hint: It is a common technology that over 2.5 billion people use today and was born in a very similar way as Bitcoin.
THE INTERNET. Despite being mainstream for over 20 years, the internet has gone through many issues. Most recently, a security bug called Heartbleed which is said to affect over 66% of all websites. Heartbleed is a result of a coding error in the widely utilized OpenSSL software. This security vulnerability has enabled hackers to retrieve sensitive data in the memory of severs that have not applied the OpenSSL software patch that fixes the security hole.
“The internet is broken, it’s the end!” is not a headline that was spread around by the media for the Heartbleed bug. Instead, articles came out advising users how to fix the problem and keep themselves protected. No one declared it was the end of the internet because it is well understood that it will be fixed and resolved.
So, why isn’t Bitcoin offered the same courtesy? Because it is not fully understood. Bitcoin is viewed only as a currency in the eyes of many and they fail to understand that Bitcoin truly is a series of protocols, much like the internet. While the internet is much more than just email, Bitcoin is much more than a currency. The Bitcoin that everyone talks about today is the currency, the first of many apps to come that are built on the Bitcoin protocol.
Bitcoin is here to stay, despite media reports. People have an option, be on the front lines of this technological revolution or sit back, make their snarky comments, only to swallow them down the road as Bitcoin grows mainstream.
So, are you a leader or a follower?