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Topic: [2014-08-04] Irish Times - Bitcoin raises its profile but investors demand more (Read 1186 times)

legendary
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http://www.irishtimes.com/business/bitcoin-raises-its-profile-but-investors-demand-more-1.1884918

Quote
This year, the bitcoin network processed between $20 million and $580 million per day in transactions, according to the data aggregated on blockchain.info.

“This is not sustainable,” said Mike Hearn, one of bitcoin’s core developers. “You can’t have an infrastructure held together by chewing gum and sticky tape and people who work evenings and weekends.”

Mike Hearn
The network will work fine without you out there writing code it was designed that way perhaps the issues of nodes and blockchain compression need developers but the core transaction client is fine.

Min txt is also fine as its above dust txts by a fair margin so not sure what the sticky tape spiel is about.

_
Investors from Silicon Valley, in particular, would like the group to focus on more technical matters, particularly fortifying the underlying bitcoin software so it can grow into a viable, large-scale payment network.

Fork it then the community will decide not to join you unless it really is superior  Wink
Until then keep working on the BIPS

_

These "investors" are not investing in the infrastructure, they are only buying bitcoins. If they invested in the infrastructure, then they would see the results that they demand because they would be directly supporting the effort.

Sadly, these "investors" are just big-time speculators with big mouths and bigger egos, and believe that they can get things done just by complaining.

Yep summed it up for me ^_^
legendary
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Sadly Bit coin needs more dedicated core devs for sure.
legendary
Activity: 4508
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These "investors" are not investing in the infrastructure, they are only buying bitcoins. If they invested in the infrastructure, then they would see the results that they demand because they would be directly supporting the effort.

Sadly, these "investors" are just big-time speculators with big mouths and bigger egos, and believe that they can get things done just by complaining.
legendary
Activity: 1904
Merit: 1074
Well one of these days, you will have a foundation for the bitcoin foundation.  Wink One thing I can agree on, is that we need more core developers, to work on a global payment system.

The  "chewing gum and sticky tape and people who work evenings and weekends" thing is simply not going to cut it.  Sad
hero member
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Investors want devs to focus on tech side, I see nothing fundamentally wrong with that.
hero member
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BTC: the beginning of stake-based public resources
...
What is the Bitcoin Foundation paying devs for, if things are that bad?

+1
legendary
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A Great Time to Start Something!
http://www.irishtimes.com/business/bitcoin-raises-its-profile-but-investors-demand-more-1.1884918

Quote
This year, the bitcoin network processed between $20 million and $580 million per day in transactions, according to the data aggregated on blockchain.info.

“This is not sustainable,” said Mike Hearn, one of bitcoin’s core developers. “You can’t have an infrastructure held together by chewing gum and sticky tape and people who work evenings and weekends.”

Another classic, great quote by Mike Hearn.  Roll Eyes
Doesn't he know that Open source projects often allow volunteers to work "evenings and weekends"?
What is the Bitcoin Foundation paying devs for, if things are that bad?
legendary
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http://www.irishtimes.com/business/bitcoin-raises-its-profile-but-investors-demand-more-1.1884918

Quote
This year, the bitcoin network processed between $20 million and $580 million per day in transactions, according to the data aggregated on blockchain.info.

“This is not sustainable,” said Mike Hearn, one of bitcoin’s core developers. “You can’t have an infrastructure held together by chewing gum and sticky tape and people who work evenings and weekends.”
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