No one will deny that this has been a rocky year for Bitcoin. And we’re just two months in. From Ross Ulbricht and Charlie Shrem’s convictions to hacks at MyCoin and Bitstamp (and of course the lingering Mt. Gox albatross), 2015 has kicked off with more of a crash than a bang.
After the bottom out in January, the Bitcoin industry has ridden a few ups and downs. Spirits lifted momentarily on the news of Coinbase’s $75 million investment round. But they dampened once again with the bankruptcy at digital currency miner CoinTerra, millions lost at an exchange in Hong Kong, and Bitcoin’s legal status in Russia.
Yet amid the turmoil, the Bitcoin ecosystem has held together. Whereas the community may have once crumbled under the blows, today we see a stabilizing force in the industry’s underlying infrastructure. This newfound support for advancing the technology derives from four key institutions: