The nonce is nonsense unless it is not.
In graphing the intrepid love story between the Cartel and auxiliary cryptocurrencies, the vertices of the heated X-Y access indicate an intrepid love affair that transcends the dynamics of a husband and a mistress. As the plot has yet to reach an anti-climatic resolution, the obscure derivatives of Bitcoin represent a tangible lust in washing billions of dollars annually in virtual anonymity. The streamlined process takes much of the intrigue and danger out of a relationship that will never rival the designs of the vast drug syndicate in attempting to fix the Florida lottery to satisfy all their money cleaning needs. As recommended by the Basel standards of banking in matching a potential clients investment dollar for dollar, the highest risk standard indicates the legitimate fiduciary industry’s skepticism to digital monetary units. With China’s militant campaign to devalue the entire Bitcoin related enterprise and further convolute financial markets, innovators are now brainstorming for alternatives for the future of a hybrid currency which is painfully descending towards irrelevance.
Cemented by the stark refusal by Amazon and Walmart to avoid offering cryptocurrency transactions, and the love story of the Cartel and rogue governments conveniently and efficiently funding nefarious enterprises, the technological marvel of the blockchain and its veritable “unhackable” security protocols should be wasted. Based on NSA-strength code, the race is on to develop applications for advantageous purposes, and interface with the valuation of the currency. The beauty is in the 64 character hashes, a string of randomly generated numbers and characters which represent transactions. Bits of data can be stored within the strings as a ledger, and thus the idea of securing intellectual property and preventing the corruption of files is an intriguing plausibility. The sterile environment also fosters accountability for unethical researchers, who may be tempted to exchange for a plus for a minus in pivoting on their conclusion that the global climate is warming, rather than cooling.
Within an atmosphere of iridescent shimmering LED lights and steel and graphite walls of a next-gen lattice work of naked hard drives, energy is converted to wealth. Miners use powerful processors to decode the encrypted hashes and in verifying each transaction, which includes three components, a request, a receipt, and of course the verification string. Once this process is completed, the hashes become a permanent fixture of the blockchain, and a hidden component of each digital coin. At the time of press, there are approximately 2700 transactions per Bitcoin block, a number that will keep increasing, until the maximum amount of coins within the platform are mined. Essentially, the entire framework is valuated by the electricity expended in mining, and is certainly not based a tangible commodity, such as a precious metal. Thus, storing sensitive information can also be a profitable venture, if an effective cost-benefit analysis is executed in calculating accurate net energy expenditures.
As humanity gravitates away from the physical storage of records, it remains crucial that a system is in place that can withstand the rigors of both the deliberate and chance. At this juncture in the burgeoning information age, cryptocurrency presents a dizzying opportunity and innovative means as a possible impregnable vault in preserving data, but also poses a viable threat. Governments, organizations, and individuals are currently exploring cutting-edge apps in testing the limits of the blockchain for evil rather than good on a platform that has limitless uses. However, in weighing the risk-reward factor, as with all software ventures, the accepted underlying notion that insidious geniuses exist, and given a specific product, how much damage can be inflicted upon society.
Barring a thermonuclear holocaust, or a planet killing comet, a future of Bitcoin-based safekeeping of data seems likely, while Beijing presses for a monopoly as the universal disruptor in staging an assault on global economics.