Bitcoin Forum

Great rebuttal to Mike Hearn's post:

https://medium.com/@ripper234/the-bitcoin-experiment-is-not-over-2edf8b63268b#.bz4i65tpt

This is a very good counter I myself have no bad experience moving my money out and in the bitcoin network I just don't know why Hearns say that it was indeed the results of years of frustration on his part and like Ron pointed out "We don’t need Bitcoin to be perfect, just to work for most everybody most of the time, and not lose our money." I totally agree !!

Amazing article written there and to answer each of mike's answer so far (hope he reads it) and couldn't agree more to everything he mentioned there however I noticed something about a chargeback when users pay in shops, any thing regarding that?

Ron Gross know bitcoin via Mike Hearn,and now he said like this on article,i hope Mike know about this,and Ron gross explain to mike,finnaly i hope Mike not said that bitcoin will dead anymore.

Yes, it's true the truth now,Mike is such a buffoon,He will be spurned by the bitcoin enthusiasts.

Nice read, thanks for sharing.

To be fair, Mike didn't said bitcoin is dead nor the experiment is over, he said it failed, failed experiments often keep going for long time and even thrive, a good example the USA 'War on Drugs'.

It should also be noted that there's currently more mining hardware pointed at Bitcoin right now than at any point in its history (https://blockchain.info/charts/hash-rate).  What an epic milestone to hit at a time of such supposed drama.  Everything is fine.  Better than fine, even.  The most powerful computer network on the face of the planet is only getting stronger.

I can't help but feel that Mike's article was purely to scaremonger the market into selling up and for him to make a large profit.
It's good to see a decent reply from Ron and hopefully we start to see a rise in the value of BTC today.

I have just got into mining and only connected up my ASCI miner on Saturday, as Mike announced his departure and degraded the future of the Bitcoin!
I am make a loss at the moment on energy consumption and need to decided if I should keep it running.

My 2TH/s miner has earned 0.014 BTC ($5.30) yet has cost $7.20 in electricity :(

" I  haven’t sold my coins. In fact, the percentage of my net worth invested in Bitcoin is in the high double digits. I am not blinding optimistic that “Bitcoin will rule the world and reach $1,000,000 per coin”. However, I do feel that we are on track, and the jury are still very far away from announcing Bitcoin’s demise."

I am in the same situation.

Hi guys, thanks for the love :)  (wow it's been a while since I posted to bitcointalk)


See also

https://www.quora.com/What-is-your-personal-hedging-strategy-of-Fiat-vs-Bitcoin

I also don't have any problem moving btc values around. I know the network is a bit overcrowded, but there are a lot of people working on that and it should be solved soon.

Well thought out response Ron... I hope this gains some traction on Coindesk & WSJ.
Only a reactionary fool sells out a this time...  if anything we should consider Hearn's piece a blessing as it has created more resolve to alleviate our differences.
Bitcoin IS the financial future.