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Topic: Lies, FUD, and hyperbole - page 2. (Read 1442 times)

legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
January 16, 2016, 08:48:44 PM
#9
What a developer is this with only 4 commit in the last 6 years to bitcoin core? This guy is simple a joke  Grin

bitcoin core is not the only implementation of bitcoin.

as long as other implementations follow the same rules and do the same checks, they too can be part of the same chain without forking..
mike hearns bitcoinJ is an example of this. and many businesses used his bitcoinJ instead of bitcoin-core

It wasn't really that many though was it franky?

% wise it was a very small number.
legendary
Activity: 3416
Merit: 1142
Ιntergalactic Conciliator
January 16, 2016, 08:47:50 PM
#8
Hearn must be ashamed to say that bullshits.
full member
Activity: 140
Merit: 101
January 16, 2016, 08:45:46 PM
#7
and i dont know that Hearn is a racist. What is wrong for chinese people to control hashpower. Are the Chinese people in the Hearns mind act like an organized crime syndicate that all of us have to afraid. If this hashpower was in the hands of white people Hearn will feel more safe?
Wow - that is sort of a new low in the FUD war.  Undecided

You guys will really go to any length won't you?  And just for readers to be clear.... Mike Hearns/XT is NOT involved in the current Bitcoin Classic Fork.  And I know you guys like to tie the two together - but REALLY a new low even for you.  Sad actually.  More reason we need to get this over and move on to Classic and a new Bitcoin Governance team.  A PROFESSIONAL GOVERNANCE TEAM.

You guys should really be ashamed of yourselves.
legendary
Activity: 4214
Merit: 4458
January 16, 2016, 08:40:50 PM
#6
What a developer is this with only 4 commit in the last 6 years to bitcoin core? This guy is simple a joke  Grin

bitcoin core is not the only implementation of bitcoin.

as long as other implementations follow the same rules and do the same checks, they too can be part of the same chain without forking..
mike hearns bitcoinJ is an example of this. and many businesses used his bitcoinJ instead of bitcoin-core
legendary
Activity: 3416
Merit: 1142
Ιntergalactic Conciliator
January 16, 2016, 08:39:50 PM
#5
and i dont know that Hearn is a racist. What is wrong for chinese people to control hashpower. Are the Chinese people in the Hearns mind act like an organized crime syndicate that all of us have to afraid. If this hashpower was in the hands of white people Hearn will feel more safe?
This guy is completely a jerk.
full member
Activity: 140
Merit: 101
January 16, 2016, 08:38:40 PM
#4
LOL - the irony of the title of this thread Smiley  Lies, FUD, and hyperbole indeed.  

Blockstream/Core at its usual worst.  You guys are determined to kill Bitcoin in a Fork war if you can't have your spoiled way.  Even if 75% (or even 95%) of the community votes against you - you'll burn every bridge before you will accept you've lost.
legendary
Activity: 3416
Merit: 1142
Ιntergalactic Conciliator
January 16, 2016, 08:31:38 PM
#3
What a developer is this with only 4 commit in the last 6 years to bitcoin core? This guy is simple a joke  Grin
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
January 16, 2016, 02:25:54 AM
#2
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.obcepgw0g


Lies, FUD, and hyperbole Part 1

With apologies to the length but Hearn does pack a lot of misrepresentations and lies into this article.

No apologies needed.

This article will be invaluable as a reference to which noobies and Gavinistas will be pointed for remedial How To Bitcoin lessons.

And it makes it much easier to demonstrate exactly why Coinbase, Bitfury, and the rest of the _Classic backers have jumped the shark.

You are doing yeoman's work here.  I appreciate and thank you for it.

Here's to another year of watching Hearn and Bitcoin's other adversaries getting #R3KT.
legendary
Activity: 994
Merit: 1034
January 15, 2016, 10:39:15 PM
#1
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.obcepgw0g


Lies, FUD, and hyperbole Part 1

With apologies to the length but Hearn does pack a lot of misrepresentations and lies into this article.

Quote from: Mike Hearn
a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse.  

This is patently untrue as power dynamics within bitcoin are a complex interwoven level of game theory shared by miners, nodes, developers, merchants and payment processors, and users. Even if one were to make the false assumption that Miners control all the power, the reality is mining pools are either made up of thousands of individual miners who can and do redirect their hashing power or private pools with companies controlled by multiple investors and owners.  

Quote from: Mike Hearn
Worse still, the network is on the brink of technical collapse.  

If and when a fee event happens, bitcoin will be just fine. Wallets already can adjust for fees and tx fee pressures will be kept reasonable because they still need to compete with free off the chain solutions. Whether the Block size is raised to 2, 4, or 8 MB it will also be fine(in the short term) as long as corresponding sigop protections are included. The blocksize debate more has to do with bikeshedding and setting a long term direction for bitcoin than preventing a short term technical collapse.

Quote from: Mike Hearn
Couldn’t move your existing money

Bitcoin functions as a payment rails system just fine, just ask Coinbase and bitpay.

Quote from: Mike Hearn
Had wildly unpredictable fees that were high and rising fast

False, I normal pay 3-5 pennies , and tx instantly get to their destination and confirm between 5 min to 1 hour like normal. CC txs take weeks to months to confirm.

Quote from: Mike Hearn
Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it)

RBF is opt in , and therefore payment processors won't accept this if they do 0 conf tx approvals.

Quote from: Mike Hearn
Is suffering large backlogs and flaky payments

Quote from: Mike Hearn
The block chain is full.

Blocks are 60-70% full on average . We have yet to see a continuous backlog lasting more than a few hours max. This conf backlog doesn't prevent tx from being processed unlike when the Visa/paypal network goes down and you cannot make a payment at all.

Quote from: Mike Hearn
… which is controlled by China

People in China partially Control one small aspect of the bitcoin ecosystem and why shouldn't they? They do represent 19% of the worlds population. This comment is both misleading and xenophobic.

Quote from: Mike Hearn
… and in which the companies and people building it were in open civil war?

Most people are passionate but still friendly behind closed doors. The Blocksize debate has spurred decentralization of developer groups and new ideas which are good things. Sure there has been some unproductive infighting , but we will get through this and be stronger for it. "Civil wars" exist within and between all currencies anyways so this is nothing surprising.

Quote from: Mike Hearn
Once upon a time, Bitcoin had the killer advantage of low and even zero fees, but it’s now common to be asked to pay more to miners than a credit card would charge.

Credit cards charge 2.8% to 7% in the US and 5-8% in many other countries. Bitcoins once had fees up to 40 cents a tx , and for the past few years normal fees have been consistently between 2-8 pennies per tx on the chain and free off the chain.  

Quote from: Mike Hearn
Because the block chain is controlled by Chinese miners, just two of whom control more than 50% of the hash power.

Quote from: Mike Hearn
. At a recent conference over 95% of hashing power was controlled by a handful of guys sitting on a single stage.

Mining pools are controlled by many miners and interests , not individuals. Miners also share the control with many other competing interests and are limited in their ability to harm the bitcoin ecosystem if they so choose.


Quote from: Mike Hearn
. They have chosen instead to ignore the problem and hope it goes away.

Bitcoin core has already come to a consensus on a scaling proposal - https://bitcoincore.org/en/2015/12/21/capacity-increase/
https://bitcoincore.org/en/2015/12/23/capacity-increases-faq/ and various other implementations are developing theirs to propose to the community. Bitcoin Classic is another interesting implementations that appears to have found consensus around BIP102.

Quote from: Mike Hearn
This gives them a perverse financial incentive to actually try and stop Bitcoin becoming popular.

The Chinese miners want bitcoin to scale to at least 2MB in the short term, something that both Core and Classic accommodate.
Bitcoin will continue to scale with many other solutions and ultimately payment channels will allow it to scale to Visa like levels of TPS.
 
Quote from: Mike Hearn
The resulting civil war has seen Coinbase — the largest and best known Bitcoin startup in the USA — be erased from the official Bitcoin website for picking the “wrong” side and banned from the community forums.

Coinbase was re-added to bitcoin.org. Mike conveniently left that important datapoint off.

Quote from: Mike Hearn
has gone from being a transparent and open community to one that is dominated by rampant censorship

There are more subreddits, more forums , and more information than ever before. The blocksize debate does sometimes create divisions in our ecosystem but the information is all there and easy for anyone to investigate.

Quote from: Mike Hearn
But the inability to get news about XT or the censorship itself through to users has some problematic effects.

The failure of XT has nothing to do with the lack of information. If anything there is too much information available , being repeated over and over , in many different venues.

Quote from: Mike Hearn
One of them, Gregory Maxwell, had an unusual set of views: he once claimed he had mathematically proven Bitcoin to be impossible. More problematically, he did not believe in Satoshi’s original vision.

Satoshi never intended to be used as an argument from authority and if he does he can always come back and contribute. We should not depend upon an authority figure but evidence, valid reasoning, and testing.


Quote from: Mike Hearn
And indeed back-of-the-envelope calculations suggested that, as he said to me, “it never really hits a scale ceiling” even when looking at more factors than just bandwidth.

Hearn's calculations are wrong. More specifically they do not take into account TOR, decentralization in locations with bandwidth limitations, bandwidth softcaps imposed by ISP's, the true scale of historical bandwidth increases, and malicious actors attacking the system with sophisticated attacks.

Quote from: Mike Hearn
Once the 5 developers with commit access to the code had been chosen and Gavin had decided he did not want to be the leader, there was no procedure in place to ever remove one.

The 45 developers who contributed to Bitcoin Core in 2015 could be replaced instantly if the community wanted with little effort. Ultimately, the nodes, miners and users control which code they use and no group of developers can force them to upgrade. In fact Bitcoin Core deliberately avoids and auto-update feature with their releases at the cost of usability to specifically insure that users have to actively choose all new features and can opt out simply by not upgrading.

... end of part one...


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