Topic: "Bitcoin is Dead" - Mike Hearn - page 15. (Read 17638 times)

I wonder if ETH will reach the price of Bitcoin.

To put it short:

Mike really tried to fix bitcoin's biggest issues:

 Scalability & Dezentralization

So he saw it's not really easy to do and some say it is impossible (and so no consensus will be ever found) ...

R3 has same issues ( I suppose ) - but now listens to him & pay.

Done!

The only thing this whole commotion does show, is the 'immaturity' of bitcoin/bitcoin community. Not saying that that is a bad thing, a lot of things are still possible to improve bitcoin as a stable means of payment, BUT there will always be more speculation than certainty considering the price or even the survival in general of bitcoin. As I am sure (my opinion) that bitcoin will never die (atleast not in my lifespan), I am also sure that this kind of payment system will always remain a bit 'immature' compared to USD/EUR/...

As this system makes it possible to stay completely anonymous, to make complete anonymous transactions, it will always remain somewhat in a 'dark' corner of society. Because, let's be honest, when you want a payment system to be completely anonymous, there are some things you want to be kept private. Otherwise you would not even think of coming up with something like bitcoin (do correct me if I'm wrong).

But well, all this discussion is in fact just speculation aswell. If tomorrow WW3 commences (if it has not already), what will happen then? Don't think bitcoin will be a profitable means of payment when nobody has got a way to access them. And I know, if ... if... if ...

It is a fact that alot of criminal activity goes along with anonymous payments, but would that be a reason to banish bitcoin? The criminal activities would just adopt, as they always will. As long as there are people profiting of these activities, there will be means to make them possible.

As for Mike Hearn's statement, everyone has a right to his own opinion, and as you said, if one of the senior developers publicly claims to have lost trust in 'his' system, then it is normal for people to start wondering or even panicking (immaturity, once again) about the investment(s) they made. But as with everything in life, profit and risk go hand in hand, so if youre not willing to risk any of your preciously earned money, then put them in your safebox at home. No money is ever truly safe. You just have to make out for yourself whether the risks are worth the (possible) earnings.

We'll see where this goes, and I think the next milestones that will happen are the following: increase of blocksize, and the halving of mining revenue. Not sure when these will happen exactly (and too lazy to check atm) but I do think we will have gone through some decent price changes in 4-6 months from now when these events have passed.

Nobody can force anyone to believe or vouch for anything other than he would like himself, but I am sticking to the bitcoin society for a while (I am still quiet the noob at the moment in the btc world so I too will have to see what will or will not happen). But I do like the idea behind bitcoin. And in the end, that's what counts, no?

But people are scared of what his opinion about bitcoin, he is one of senior developer of bitcoin so his though can effect bitcoin.

for those that think bitcoin is "Dead" here is some history -> https://99bitcoins.com/bitcoinobituaries/

u didnt write this crap who are you working for

When one of the most important people in Bitcoin states something like that you have to listen. I read his entire post a couple times. And I generally agree with his description of what has happened and, more importantly, what has not happened. I’m not ready to declare that Bitcoin has failed. But I’ve always viewed Bitcoin as an experiment that could fail and I still do. I personally own a material amount of Bitcoin, but in our personal asset allocation it is at the very bottom, below our wine collection. And I’m not a wine collector.

In every Bitcoin investment we’ve made at USV, and we’ve made four with multiple rounds in one, we have identified the failure of Bitcoin as a core risk element. We haven’t stopped including that in our risk factors. So we have our eyes wide open about the fragility of Bitcoin. But we also have our eyes wide open about the potential and the importance of this technology.

I personally believe we will see a fork accepted by the mining community at some point this year. And that will come with a new set of core developers and some governance about how decisions are made among that core developer team. But it could well take a massive collapse in the price of Bitcoin, breakdowns in the Bitcoin network, or worse to get there. And all of that could cause the whole house of cards to come crashing down. Anything is possible. Even the return of Satoshi to fix things as an AVC regular suggested to me in an email this morning.

The Bitcoin experiment is six years old. There has been a significant amount of venture capital investment in the Bitcoin ecosystem. There are a number of well funded companies competing to build valuable businesses on top of this technology. We are invested in at least one of them. And the competition between these various companies and their visions has played a part in the stalemate. These companies have a lot to gain or lose if Bitcoin survives or fails. So I expect that there will be some rationality, brought on by capitalist behavior, that will emerge or maybe is already emerging.

Sometimes it takes a crisis to get everyone in a room. That’s how the federal budget has been settled for many years now. And that may be how the blocksize debate gets settled to. So if we are going to have a crisis, let’s get on with it. No better time than the present.

That is just his point of view. He is not the only one controlling it, He think he have a lot. It didnt even moved that much what bitcoin price is, It is still there 380-450. Say what he want but I dont really believe him. We have our own opinions.

Unfotunately few families control the world finance (just everything like stock exchange, resources ex, federals reserve systems, central banking systems, and so on)  AND the world media. Not necessary to mention their names.. I think at the moment they are focusing more on destroying europe... BTC as a anonymous and instant payment system is a problem in their eyes but I also think that because of the open source nature of bitcoin it will not be possible for them to completely destroy it. I think THE problem we actually have are some BTC developers and members aquired by finance institutions... btclassic will go through. I bet 80% on it. 10% for satoshi showing up and giving advice and 10% for a total mess and the beginning of the end. But again. This is a open-source project. If temporarily broken, we can fix things together. And the community* will always stay. What the core team needs, is a leader. Just my two cents.

And yes, under specific circumstances, it is indeed possible to reverse your transaction ("doublespend").


* users which are here for their belief and trust in btc and not its valuation or its reflection on the market.

Mike hearn will absolutely regret about he was did started from on.

I doubt that core developers will let Bitcoin die. They probably own lots of Bitcoins themselves, and will not want an outcome like that. See Hearn, for example: he sold all his coins. He assured Bitcoin was alive enough before he did it.

But they are regret selling their bitcoin at cheap price like 350$ and now bitcoin started raise again..

I agree with you but this thing happens every time when there is bad publicity and the price goes down. Because people are scared to lose money and sell.

Really? That why I'm not wonder this guy want to interrupt bitcoin stability. What kind of shit here

One of the violently masochistic pleasures of being even minimally knowledgeable of the Bitcoin world is witnessing the tragicomedy of mainstream journalists and establishment pontificators publicly trying to make sense of it. If it hasn't been mentioned here already (and apologies if it has), consider one such pontificator's unfortunate take on Hearn's histrionics:

https://www.washingtonpost.com/news/innovations/wp/2016/01/19/r-i-p-bitcoin-its-time-to-move-on/

Reminds me of what the late novelist Vladimir Nabokov wrote on the subject of literary translations: 

What is translation? On a platter
A poet’s pale and glaring head,
A parrot’s speech, a monkey’s chatter . . .

It only hurts if you don't laugh.

yeah man I agree that we can't conclude with these days rise. I quoted just he said something then onwards there is no life in bitcoin. But atleast for some 5days it had lasted thatsit

I feel sorry for those who panic dumped and lost money because of this joker. Hope they learned from this. HODL.

Hearn, the backstabber, probably made a mint on this crash at your expense.

lol you can't make that conclusion on a small increase in price in a single day man...

Finally his words were made false and bitcoin is emerging out from its recent day crashes caused due to some revealed statements and world market situation.

I think Mike Hearn said bitcoin is a long-term failure not that it will be outright dead soon. Other companies are interested in the blockchain technology not the cryptocoins themselves. The blockchain is here to stay for sure.