Bitcoin Forum

The resolution of the Bitcoin experiment
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.qokjwtupk

What altcoin will people flood into if Bitcoin fails then? In other words, what altcoin has code that won't have this problem?

let him go.

Bye Mike.

http://www.nytimes.com/2016/01/17/business/dealbook/the-bitcoin-believer-who-gave-up.html


Basically, Mike Hearn quit Bitcoin to join the banksters.

And also he sold all of his BTC, what a joke... Why not invest some in an alt coin at least?
If you like the idea behind Bitcoin but you don't like the block size why not use an alt coin instead?
There should be plenty to choose from.

He doesn't seem to be that interested in the ideas behind Bitcoin.

 

So long, and thanks for all the drama!

Why can't Bitcoin be like Linux or Debian with slow and careful development?
I used to think that growth is important, but I don't think that it is, at least not now.
Now, building good software is much more important than # of bodies transacting, regardless of what stock options crowd at Coinbase and Bitpay thinks.

This is starting to have some bolshevik/menshevik overtones in the discussion.
https://en.wikipedia.org/wiki/Mensheviks

Core, Unlimited, Classic, bitpaycore..oh, my:
https://bitcoinmagazine.com/articles/unlimited-classic-and-bitpay-core-bitcoin-s-new-kids-on-the-blockchain-1452705977

Ahh ok, I'm starting to see why people are so upset about all of this... I honestly didn't know that he was planning on developing a blockchain program for banks to use. Also, you have a point that it doesn't really make sense to not go ahead and invest in other alts, or just simply create his own that incorporates all of his beliefs of what Bitcoin should be.

He probably got bought out by the banks for an amount that he simply couldn't refuse. But at the same time, can you really blame him for leaving a community in general that has been that hostile to him? I mean I can empathize with that, personally.

I'd say because very few of them have a future.   But bitcoin is bigger than one man so this is ok.  The world will continue to turn.

the journo figured out that the title sounded wrong

So, from "The Bitcoin believer who gave up" it is suddenly " A bitcoin believer's crisis of faith"

Bye Bye Mike ^wave^ Something tells me, this is not the end. The puppet masters at the banks will be a better environment for you. The Bitcoin scene have no need for drama queens and benevolent dictators. Hope the payment and
benefits is better in the old corporate structure.

In a month or two, we will see the true color of the attacks that would be launched from their side, eagerly assisted with the help of Mike Hearn. The little support he has now, will quickly evaporate when this happens.

Good point, he did quit is job at Google to work full time bitcoin development...

even though Mike left from the bitcoin development, i don't really see the reason of bitcoin price crashing. ???
in case of that, we would be in urgent about the bitcoin price, if we could not save bitcoin from crashing, then bitcoin would not have a brighter future. and i don't wanna leave bitcoin for this.  :'(

What he wrote is mostly manipulative propaganda and lies. The answer to your question is no. Bitcoin is doing fine and is better off without such immature people like Hearn. He was unable to get his way with XT and so he decides to backstab everyone how lovely.

That's not a good point. What did you expect is going to happen when you advocate blacklisting? He deserved much worse than what the community threw at him and now he has proven it.

New York Times picked up on thecoordinated in the creation of the story (this is highly likely) in addition to the Cryptsy fiasco. Bitcoin will not crash because of this, obviously this is going to negatively reflect on the price (as it already is).

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Update: Corrections to the post.

Exactly, to tell you the truth, IMHO, he decide to go at the same time that he decide to start with his ALT coin, so for me this is not a loss, he was already "out", so let him go, maybe more and better devs will come now with less drama around... ;)

More like "An egotistical shitlord's party of pity."   :P

You're passing misinformation, he did not "advocate blacklisting", that was once discussed has a way to prevent the fraud and theft, after discussed it was dismissed because it could not be implemented.

When r u people going to recognize FUD? He s spreading BS about BTC cause he s got a plan and his plan s working. You weak hands continue to spread his BS around.

Who the fuck is Mike Hearn to see the future? He s someone who s been something in BTC. Not anymore.

but we are facing the crash of bitcoin price. isn't that a form of crashing? :(
that is a nogo to the bitcoin.

I'm not sure what you've been reading these past few years, but he did. There was even a decently sized thread about it on the forums. (https://bitcointalk.org/index.php?topic=333824.0)

-5.48% on the price is not crashing, it is called volatility.

That does fit.

Mike Hern used to a believer of Bitcoin and due to different views with other developers, he was dumping and cursing bitcoin's future. What is wrong with Bitcoin? He is not God or boss in any company. He cannot decide its future. It is decentralized. He  just expressed his negative views, totally ignoring the advantages Bitcoin brings to us! How could we trust such bad attitude guys with his previous jobs?

Mike's work on bitcoinj enabled most mobile wallets and by that a big part of mainstream adoption.
His lighthouse project is one of the finest demonstrations of what Bitcoin, as is, is capable of.

His view might be too pessimistic, but community lost a good engineer.

One bad apple don't
Spoil the whole bunch, girl
Oh, I don't care what they say
I don't care what you heard now

I've been noticing you, Mikey
For a long, long time
(Long, long time now)
I'm not ashamed to tell the world
That you really messed up my mind

http://ring.cdandlp.com/patsillons/photo_grande/115045881.jpg

I think he just wants to see people give up on Bitcoin. And everyone think he is legit, so they dump.

I don't think that word means what you think it means.

Iknow, I've followed it, that's ancient history...

Doesn't matter.  That was the story we wanted to tell, and XT was insufficiently antifragile to counter (much less survive) our malicious narrative.

Please decry our underhanded, dishonest tactics even more.

Let us know exactly how distressed you are by such dirty tricks.

https://i.imgur.com/joK513E.jpg

Don't hold back, vent all your pent up rage about being on the losing side of Bitcoin's Grand Schism.

You are right. it doesn't matter. Its all over for you now, anyway.

Your malicious narrative finally defeated you.

All you legendary sheep make me laugh.
Why cant you guys understand that bitcoin has a problem, has had this problem for over a year, and now this problem is coming to a boil.
Stop with your petty posts
"dont let the door kick you on the way out"
"Time to buy cheap coins"
And all your other bullshit and realize that things need to change for bitcoin to survive.
Mining has to lose its centralization, Blocks need to be made larger, we need to lose the bitcoin foundation..........

We've been through this all before.  We have no fear.  Those of you who are scared and following dumb ideas will end up on the wrong side of this story.

THANK YOU !  Yes this!

Hearn makes deadly accurate points that you're a goddman fool to ignore.

Fuck your politics and personalities and whether you like Hearn.
There's real fucking problems with Bitcoin!

Hopefully his exit is a WAKE UP CALL.

no....see people are used to thinking its all about them.

Bitcoin is decentralized anyone can code for it, fork it.

other people are used to thinking singular people are important.

here's a hint. Satoshi made btc, and he disappeared.

You make it sound like you and I are different.
I've been here for what feels like forever.
I seen it all happen.
Silk road,
Trendon Shavers,
3 serious pumps and dumps,
Regulation,
scams,
retailer adoption,
press coverage,
Forks, ect....

You cant fool me man. I didn't even really know who Mike was before yesterday but I knew that the Chinese were cornering the mining game, and making it a much more centralized venture. I knew that bitcoin transactions sent with minimal or no fees takes sometimes over a week to confirm. I know that we have an issue with the centralized nature of the foundation and the core developers.

Now.. What were you saying???

https://bitcointalk.org/index.php?topic=1329377.0

A wake up call yes, a push for a change that helps bitcoin survive the next 12 months.... Highly doubtful.
The problems that persist today persisted years ago and were swept under the rug. Problem is now a new person bought the house and the rug was removed and thrown out...... Now all that dirt has no where to hide and is out in the open for everyone to see.

There are better alts, with updated code and superior features. But it is all temporary, in the end everything will require an update.
If bitcoin fall, crypto market will be shaken forever and people will be reluctant to trust another cryptocurrency.
We can't have one solid crypto with outdated source code, bitcoin sooner or later should evolve too keep up with that  progress too, just DON'T PANIC.

Even Mike Hearn says all is not lost and there are several new code repos competing (classic and unlimited). 
I think even Theymos is now backing bitcoin classic.

There is evidence it is not all doom and gloom despite there being real problems.

Not necessarily sure Chinese want to stop growth like Hearn says.

Bitcoin will survive.

But the price is probably going to suffer while we the people sort this out.

So the price of bitcoin on saturday will be 200$ :)

Yeah right, and on Sunday it will be for $10. Haha.

Let people think about this whole situation clearly. Haern is angry but he is not Satoshi, he is just one of the developers, not the brightest and not the best.

Some opinions about Haern:

Bram Cohen - creator of Bittorrent

@SwiftOnSecurity @nytimes That was one whiny ragequit. He's epically wrong on almost all technical points.

Peter Todd @petertoddbtc
The RBF section of Mike Hearn's "Leaving Bitcoin" post reminds me I'm not going to miss working with blatant liars.

Mike Komaransky @mkomaransky
Bitcoin Hearn Paradox- With him, consensus is hard to reach, btc suffers. w/o him, consensus is easy to reach, bitcoin prospers.he can't win

I do think the price of Bitcoin is going to tank if they try to fork without 95% consensus.

Instead of quoting other people who don't think highly of Hearn, how about we
discuss the actual points he brings up?   

Don't forget that the markets are also down today.

Bitcoin is dying. Well, it's been dying from the start but now it's dying a little faster. The split in the maintainers is between those who believe in supply-side economics and those who believe in demand-side ones. At the moment, the supply-side supporters appear to be on top. That means Bitcoin is dying a little faster. But it's going to limp along for a while yet, so it's still worth using.

The first rational post and it's roughly #20. Bye Bitcoin.

We're seeing a morning sell-off right now to be honest, all the European countries woke up and saw the lower price and followed suit.

We most likely will not see a crash that will send us back below $350, we just have to keep holding and not lose resilience.

LOL, so foolish.

It's 8:30 am in china. Now its time for them to start selling.

Give yourself a hug.

As I write this I am watching a rebound in the Bitcoin price, which I hope will continue (And looks like it is happening), and there is apparently a buy wall at $365 right now. We just have tyo wait for everyone who wants to leave to leave, and then keep going with our crytocurrency business.

Keep calm and carry on.

Do not forget we bottomed out at $230 not long ago, and we increased over $200 after that. This is just a temporary selloff (Which also apparently happens once each year in January), so there will be a rebound quite soon, according to the charts.

Nahh dude.. sub 300 incoming. Sure you may get a small bounce first but over the coming days the sell pressure will continue and bring us further south.

It's entirely possible, but right now I'm looking to remain optimistic. We'll see what happens over the next few days, and if it gets bad, then I'll change my opinion. But right now there isn't a lot of reason to be worried, and we just have to watch with what happens as China and Europe wake up and start doing stuff.

#HearnShaming is now a thing!   :)

While the effect on the price is short-term and I am sure Bitcoin will bounce back, I hope the issues pointed out by Hearn are sorted out.

I am especially worried about this.
One problem with using fees to control congestion is that the fee to get to the front of the queue might change after you made a payment. Bitcoin Core has a brilliant solution to this problem — allow people to mark their payments as changeable after they’ve been sent, up until they appear in the block chain. The stated intention is to let people adjust the fee paid, but in fact their change also allows people to change the payment to point back to themselves, thus reversing it.

Isn't this crazy?

fixed that for you, quisling.

Well you have a point, if Bitcoin fails the crypto market will tank.
But still I am pretty sure they guy had loads of Bitcoin so surely he could invest some in an alt?

There's already a couple of coins that you can trade directly for USD which means they no longer rely on Bitcoin to maintain it's value.
Even if Bitcoin fails I will keep my alt's. As they might recover after Bitcoins death.

https://bitcointalk.org/index.php?topic=1329377

They should still have to give credits to blockchain for creating their own.
I don't think bitcoin will even fall still And I mean banks are for banks, people will use it and let them use what they are creating. The bitcoin community can still use what we are currently using. And retain anonymity.

I understand that there are some technical challenges in btc but in time the bitcoin community will overcome them like always. Stay strong fellow Bitcoiners, we have seen the eye of the storm before but it did not scare us away. Buy Bitcoins today at 15% percent off enter code Mike Hearns for coupon redemption.

Hearn write bullishits. This guy is a jerk and a racist. I was most angry when i read about what he thing for chinese people that control the hashpower. I dont know why chinese people has not the right to control bitcoin hashpower in Hearn mind. I am very sure if this hashpower was controlled from USA guys or white people Hearn will not have a problem at all.

I wouldn't worry too much about it. He ate some bad dim sum at a conference in San Francisco and never got over it.

I honestly think this whole thing was a stunt for one of his investor buddies to scoop up cheap coins.

Everyone have their own opinion, and for me Bitcoin is not that bad. Well yeah there's something bad with Bitcoin, but in the end Bitcoin is a good thing.