Topic: Mike Hearn is wrong. Bitcoin isn't dead (Read 2364 times)

What really gets me going is the fact that he devoids bitcoin, yet is going to develop a blockchain with 43 banks, what a traitor you are than, even worse than the devs holding back the blocksize due to investments, Mike is now doing the same....

I appreciate Mike Hearn a great deal.

Strange that I haven't heard of this Mike Hearn in over 5 years, I spent a lot of time on this forum looking for information. Let him go, he is just one dev.

To be fair, he never said it was "dead".

Here's what he said:


Right now, I agree that the fundamentals are broken
as long as there is a civil war going over scalability.

However, that can change and it can change quickly.

How quickly is up to us.

But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.

Something has to be done about the current limitations on the bitcoin platform.

Another perspective...

http://coinjournal.net/scaling-bitcoin-austin-hill-blip/

As most of the forum users think that bitcoin can't dead with this stupid speculations...

Watch Mike Hearn in 30 years in from here. He will wish he hadn't sold and will likely go back to Google or somewhere and work

for peanuts while we are real millionaires. He will be PISSED at himself for falling off the horse and not getting right back on the

horse so quickly. Welp, he'll have only himself to blame.

Mike Hearn, if you are stomped by the horses hooves, don't cry to me in 30 years.

Yeah i wonder how many times i have seen articles from scientists saying something is bad for you and defending something thats been around for years , and then you see where the money for the reserch came from and you understand why they say something like that. always look where they get their money from and you know why they abandon former beliefs and start bad mouthing.

Mike the next job seems to be in contact with the bank.

This can explain the problem.

Mike Hearn is R3CEV's bitch now, he has sold his soul to the devil, now he has to keep pushing their agenda for life

Mike knows better than anyone that the success or failure of Bitcoin is driven ONLY buy the volume of people who decide to use it as a currency or store of value. So for him to say it has failed doesn't make any sense. It will not have failed unitl people stop using it...which could come from lack of interest or lack of ability.

It seems you can't click anywhere on the Web today without a "Bitcoin Has Failed" article quoting Mike Hearn.

First of all, Bitcoin is not the VISA Payments System.  It will never process millions of transactions per second on Black Friday while simultaneously juggling chainsaws and making love to your best friend's wife.  That's not what it was designed to do.  The fact that it lacks the capacity to do this isn't a bug.

The megabyte block size limit is an important parameter of the Bitcoin protocol, and the unintended consequences of changing it need to be more carefully considered.  That a couple of developers, who shall remain nameless, went off and did their own version, designed to fight with Bitcoin Core for ownership of the blockchain, was the height of foolishness.  Of course, no one should run their code.

If there is no consensus on bumping the block size, and it remains at a megabyte forever, Bitcoin will be fine. Transaction space in blocks is a finite resource for which we charge fees.  As those fees rise, Bitcoin will slowly and seamlessly transition to a model where tiny transactions are handled by exchanges such as Coinbase, and transaction space in blocks is used primarily for settlement between exchanges and parties making larger trades.  This will happen so slowly, you'll barely notice it.

It is the height of hubris for the former developers, having failed to impose their vision of the code on the rest of us, to run around telling the press "Bitcoin Has Failed."  They have failed.  Bitcoin is fine.

Like most things in the P2P world, Bitcoin will last as long as at least two people are running a client, and it does something useful.  ed2k hasn't gone away, and will probably be here forever, along with Bitcoin.