Bitcoin Forum

XT was obvious not successful so Mike Hearn switched the sides. Good for Bitcoin?

http://static1.squarespace.com/static/55f73743e4b051cfcc0b02cf/t/564dd802e4b0dff76870e198/1447942146527/PRESS+RELEASE+R3+tech+maangement+team+%2811-19-15%29.pdf

http://i66.tinypic.com/2uqkxgj.png

http://r3cev.com

https://en.wikipedia.org/wiki/R3_(company)

It has been a while since the mask uncovered and now we see clear who wants to see a decentralized Bitcoin that work's for people's interests vs who wants to see a centralized Bitcoin whose banks can prey on and control via big datacenters as nodes. So yes, Mike Hearn is Darth Vader for all I know.

I think he's looking out for himself which is absolutely fine.

One of the first users of Bitcoin? LOL 

He was never around before December 2010. As an example, sirius started using Bitcoin in November 2009,
Theymos started using Bitcoin in February 2010, knightmb, mizerydearia, Syke and MoonShadow were using Bitcoin from July 2010 and there's about 100 people that were working on Bitcoin when he showed up. He was relatively late to the party. The fool makes it sound like he invented Bitcoin. ROFL

You should rather ask, Was he working for or against Bitcoin from the start? It's not as if Google has a perfect anonymous history and not feeding some agenda for a certain

3 letter agency. If XT succeeded, it would have been the perfect honey trap for this agency. He will help his new employer with that agenda now. I would not waste my tears on

this change... Let the force, leave that one.  ;)

I don't really see how he switched sides. I'd say he switched when XT development ceases, which doesn't seem to be the case so far. Anyways, Mike's time has probably gone by: the debate on blocksize is well under way. The fire has already started :)

Nothing to worry about this, it doesn't makes a big impact to bitcoin

He's got the knowledge, they've got the cash. Everyone wins. Divisive as he is, he's done some very cool stuff such as bitcoinj. I don't really see where the conflict of interest is. Something spawned for a bank will always be fundamentally different from Bitcoin.

After his XT fork fiasco, he did not have future in Bitcoin anyway. It is best for both Bitcoin and him to leave crypto and turn new page in life. I dont think hes intentions were bad in Bitcoin but result was shit and i hope without him and ppl around him we will have compromise faster.

A prophecy that misread could have been.

Mike Hearn was always to the dark side of The Force

I agree, this description of Hearn's has other misdirections and falsehoods.

The pioneers of smart contracts were obviously Nick Szabo, for theoretical basis, and the first working prototype smart contracts platform was fellowtraveller's Open-Transactions and then Ethereum ... Lighthouse was definitely after these, and is too limited to be referred to as a "smart contracts pioneer".

It doesn't matter much in my opinion he was just a burden to bitcoin and I am relieved that he left.

Mike coined the word "SPV" => "SPV" first appeared in the whitepaper => He is the author of the whitepaper => He invented Bitcoin.

There will be not never a centralized bitcoin. Or at least something like you imagine. R3 is working to apply the peer to peer for the use in most of the big commercial banks of the world. But never to create another digital coin or worst, to create another bitcoin. In the worst of case they could create a centralized clone of bitcoin but not bitcoin. And this if they wanted to do such thing. But as i told above their interest (the interest of the commercial banks) is to use the technology behind blockchain (peer to peer) to reduce the cost of overall actual and future operations regarding all the normal activity of an commercial bank. But here their aim stops. They cannot create a digital coin even if wanted this thing. They have not the right to do so. The creation of the money within a country, by law, is an inalienable right only of the Central Bank of every country. This is the first thing. The second is even more convincing. Can you imagine (if possible) what can happen if every commercial bank had its coin? Or even every coin for every group of banks? The minimum it will be a big mess. The maximum the not use of those by no one because of costs. If I want to send money (coins) from one bank to another which have another coin and want to promote it, for sure will be obligated to pay big fees for the coin I am sending and is not the coin of the bank which will receive it. Then this my coin may be changed in other currency in which must be used. Other money spent for a very probable unfavorable exchange by the host bank. Then why use such coins?

So you can sleep without problems. Any kind of digital coin will (cannot) be produced by any commercial bank served by R3.

As for Mike Hearn I think that everyone has the right to do what he think is better for him. With only one condition. To not harm anyone. And Mike are not harming anyone with his choice.

Yeah. I got the same opinion from reading that description. It seems like they are praising him way more than they should. At least now (hopefully) we are rid of him. Bitcoin never needed people like him. I actually feel sorry for them; they've yet to see what kind of person he exactly is.

No.

I concur.

Hearn can do whatever he wants. If he thinks a project/technologies needs a dictator, well let him do so.
Fact is his XT crap failed.He wasn't able to fool the bitcoin community.And that is good. Maybe now he tries to fool the banks.
Hearn just loves himself and only sees himself as the one and only.
He might hate us and bitcoin core with a passion now and maybe he believes to have ascore to settle with us, who knows.
But if he believes to find his paradise with the banks now, I'm sure he will fail another time, because they will dictate him what to do and not the other way around.

Your completly right, banks are just interested how to settle transaction between themselves in most economical way, no more possible under current laws.

The only bad part their research into the matter is not open source project with results available freely to the mankind.

He sure has an incredible mind, but everyone does mistakes. I really hope he can still work for the good of Bitcoin and people get past of being "angry" with him due to his involvemente in XT.

Your post suggest Mike Hearn will now work against Bitcoin, which I think is false. Working for banks to help them find solution for their in-house blockchain does not imply he works against Bitcoin. Hopefully he finds some spare time to improve Bitcoin as well.

https://en.bitcoin.it/wiki/Genesis_block



indeed banks don't want to use Bitcoin because it doesn't fit their nasty fractional-reserve banking system but they want to use the Blockchain technology instead to support their nasty fractional-reserve banking system.

another one bites the dust...

The main and possibly only reason that they are focusing on Blockchain technology and highlighting it everywhere is because they don't want Bitcoin to succeed. In other words, they're working against Bitcoin.

+1

Banks are desperately scrambling to find a way to incorporate the techonology behind Bitcoin into their tired old system. Eventually, they can claim to be a safer way to use Bitcoin. When the world sees our people defect to help them it's a statement against Bitcoin. I don't think that bastard ever really cared about anything but his own success.

Lighthouse? As in the level 3 competitor?

in real life, you need a job.
in real life, normal and trusted people develop on bitcoin for free and repair car for cash.

but real life is cheated by helicopter paper money ... for rich only.

That is very well possible indeed. However, we've prevented him from hurting Bitcoin and that is a good thing. We need to fight off bad actors whenever we can. It is time to forget about Hearn.

Because the light side kicked him out.  Now he's out for blood.

DAN DAN DAN, DAN DADAN DAN DADAN...

Which reminds me...  It's showing this friday!!!!  Yaaaaay!

Black guy is Luke Skywalker's son!  You heard it hear first.