Bitcoin Forum

Mike Hearn has left and I fully understand him. He won't the only one to leave.

I'm afraid that in a few months there will be only losers supporting BTC. Yes, losers, because smart guys want action. Smart guys want results. Fast. Now! The block size problem has been hanging around for more than 6 months and no clear solution is in sight. Can you name another business where problems don't get solved, and people just bury their heads in the sand hoping the problem would disappear? What will happen first: the next release of Android, facebook having 2 billions users, Elon Musk going to Mars, or the block size issue solved?

I cannot imagine how much frustration, and sorrow, the people who have invested several years of theirs lives in BTC, shall feel. When I look around I see plenty investing in blockchain systems because the tech is so great, but nobody's investing in BTC anymore.

If the block size issue isn't solved this quarter, any sane person shall leave the ship. I guess that if Satoshi Nakamoto is still alive, he would cry! He launched something truly great, but it has stalled last year. There's no lack of dreamers hoping that BTC shall reach $1,000 again, but I (and the real BTC supporters, I hope) certainly haven't joined to become a renter. BTC may be worth $100 or $10,000 and I don't care. What I do care about is that BTC has the ability to grow ten-fold this year, then one hundred-fold next year (I mean the number of transactions).

If BTC cannot grow, if it cannot change, it will follow the footsteps of the typerwriter. It was fantastic at launch, but it disappeared when a new superior technology appeared, and no typewriter company has survived making computers.

Note: don't misunderstand me, I'm not saying BTC's dead. It can keep on going many years with the same small number of users. There are some old folks very happy to collect stamps, you know.

Being one of the few with legendary status on this forum you know what you are posting about,somebody has to step up to solve this crisis hopefully  it will be resolve this year and if it resolve this could all we need to finally make bitcoin the number one online payment processor

Obviously there is a large concern over the block size, and it should be dealt with.  But, the real problem comes from a majority of people on here not caring about the fundamental of bitcoin, and what it looks like "under the hood".  A very large majority have gotten into bitcoin because of the hopes of striking it rich, and merely just want to speculate on a price of something that is looking to have major flaws within the next couple years if something isn't done.

That isn't to say that devs aren't trying to get things sorted out.  The main problem is that the devs have some pretty opposite views of how Bitcoin should function... you could say this is starting to resemble government, and if the congress, house, and president can't all get along, you'll start seeing that the nation can't function.  There needs to be some voting system put in place, but this is pretty hard when starting from scratch.

I still feel Mike made premature and emotional decision rather than a strategic one...  With the halving, and new 16nm ASIC tech from KnC and BitFury fast approaching Chinese mining dominance may be coming to an end. I bet in 6 month Chinese miners would be more receptive to the idea of block size increase. Very sorry MH took this so personally and impatiently but it was his choice to make.

I really hope that halving can solve this problem for us. The price needs to go back up. For Bitcoins sake.  ;D ;D ;D

how many altcoins has such problem anyway? that means all these altcoins will also die.
btc has survived even with that blocksize since the start. and it could still survive once the value gets very low this time because there will be lots of buyers hoping for the profit during the next pump.

very sad there is no voting system implemented in the system. Bitcoin can not like this forever.  A new issue will be  arising from time to time. As the adoption rate is increasing and bitcoin community is expanding, we need to have a final solution to address it.

This is the answer, stay the hell away from anything that adds another word onto Bitcoin; Bitcoin XT, Bitcoin Classic, etc! That's the first step to survival for Bitcoin.

We must all rally around core and resist division, for division will lead to defeat. United we stand, divided we fall!

A great word of wisdom though. Thank you for lightening up such newbies like me. I just smiled when I read the article. Maybe I am the one of those stamp guys that will still hold a grip with bitcoin. But all in all, very well said.

There is no way to guarantee that. Chinese holds lots of bitcoin and could easily update their mining rigs to keep their competitive advantage in hash power.

He dont know that the stamp guys and the antiques are getting costlier as the time goes up, the same bitcoin will also get boomed when the problem is solved that time this guy will realize what mistake he has done. i have total believe in bitcoin development and once the solution for block is got that time we can see the price booming in bitcoins.

Yes, we can't deny that there are still many problems.

But humans will not stop moving forward, just as we do not now use coins on a large scale.

I hear your concerns, but have a firm belief that the issue will be resolved by halving, or atleast a clear picture of what will be coming. I don't think a 5-7 billion $ market will allow for anything else.

Let me understand, Bitcoin's dead but it still works. Do I have to think we are dealing with a zombie?
The moment I see this thing is broken I'll leave, not before.

Long live btc: my 4/5 daily transactions are confirmed regularly, for me BTC works.

Ya you are right their are so many big players who are involved in this they wont ruin their money like this, and when ever problem came we have faced it and cleared it, once the block problem is solved every one will come back , but before that if the price goes up then they will be feeling sorry.

I don't really understand this mass hysteria.
Only what come to my mind, someone gonna monetize on all this insecurity and fear..
learn from history.

Bitcoin has been declared dead so many times, who wouldn't fell pity for it? We need to stop all this "Bitcoin is dead" bullcrap.

It's very clear why Mike Hearn has left. Beside that, Bitcoin is in full working condition and is by far not broken as he is saying. That alone makes me find him nothing more than a spy and an anti Bitcoin hooligan. I don't mind the fact that he left, Bitcoin is better off without him. He is working on something else which is explaining why he has left Bitcoin.

Your concern is acceptable. There is nothing to feel pity for it, as it has experienced various crisis from its early days of emerging as a cryptcurrency

Do not pay any attention to ranks. That doesn't mean anything anymore. It was a good indication 2 years ago, as back then anyone with Hero or Legendary rank was likely an early adopter who joined the forum before the bitcoin hype began. But that's no longer a case.


...Bitcoin Core

I'm not scared at all just lm cautious just in case to catch train if he go down.
But nothing at all cant changes my good opinion about bitcoin !

This is something that can never be stopped,consensuses is not reality .Humans always tend to find ways to make themselves superior or to defeat the other one.This is working like an altcoin now ,start something then dump and then leave simply,i could be wrong and there might be more people into bitcoin this year.Let's stay Positive.

Any real legendary account holder would be far more knowlegable

this is nonsense, their is an ongoing block size debate and it

is not a real problem atm because the blocks arnt filling up

and if they where consistantly miners would just start a new github

project copy n paste then increase the blocksize and

BBBBAAAAMMMMMM!!!!!!!!!!!!!!!!!

done

I understand your concern but I think everyone just got scared
just because Mike decided to leave bitcoin behind.
Just because someone does it and says something like bitcoin being dead,
doesn't mean that it's true, it's only 1 individual who feels that way.

Nothing will be changed just a little dump..
Time to buy more and after halving of block we will see what will happen!
Just ignore all those trolls with money ready to buy your unwanted BTCs.

Just because 1 developer gave up on bitcoin, doesn't mean that you should. If your neighbor doesn't believe in bitcoin anymore, is that going to stop you?
It's only 1 person that has so much effect on the bitcoin market, I don't think it should change the way you think about bitcoin.

Branches are sometimes not bad, it is another aspect of the rapid development of bitcoin

Although there are many problems, but I believe that these problems will eventually be resolved :)

In any case Bitcoin is Number One Crypto, and with worldwide reach. Look how large is BTC mining farms in China  ;D May be market growing is not so fast, but all good things can not happen in one day.  ;D

I can totally relate to this post and I believe the issues of the block size will be fixed.Magic happens.Even though Satoshi Nakamoto is out assumed to be out of the scene ,no one knows what he is really upto.It's obvious he won't let his creation die so easily.A genius will come up the solution and hopefully bitcoin will live long forever!

well, those are not smart guys...those are impatient ones.
Einstein worked on general relativity almost non-stop for eight years and the result was a marvel of scientific achievement that is still very much relevant  now after 100 years (provides data for the accurate GPS satellite positioning) .

basically we should pity is bitcoin prices. because bitcoin prices unbalanced make bitcoin is not used and has always been a joke for investors who do not use bitcoin

There is no genius required... You should either start a node and make a difference or ship out and follow the consensus decision that was made for you. All this talk about

block size increases just divide the community even further. We created this beast and now we must feed it.... You can either make sure you giving the right medicine and the

beast will survive or you rush the decision and you give it poison and it dies. Nobody knows for sure, if the beast is sick or if the remedy is medicine or poison.  Some testing is

still required.

If bitcoin is hard-forked, my current coins are still going to be valuable, no matter which fork succeeds.
So I will just sit back and watch things evolve.  :)

There are a lot of them. In fact all the businesses we can think of have their problems and some of them never solved but "the show must go on" as they say.

I don't like to make unfounded staments so here's the list of unsolved problems in physics for example:

https://en.wikipedia.org/wiki/List_of_unsolved_problems_in_physics

And there many other fields you know and all of them have their unsolved problems, but the life is going on nevertheless.

Just let them if they take it as a joke at least we can make money with it.
Bitcoin have always been not that balanced, but that is great about it because it can go up like at 1000 dollars or more.

This will be a great year guys in the beginning was not that great but we have still 11 month and a few days a head.

Yes People do always come and go it does not mean that Bitcoins system is bad. Bitcoin's condition is changing daily. The thinking of only one person will not decide anything. There are many people who are in having full faith on bitcoin ecosystem and will definitely contribute to bitcoin's growth.

Don't be so negative about current bitcoin situation. It is not tragic, or even remotely bad. We are just keeping status quo for now but that doesn't mean bitcoin couldn't evolve.
I admit that lack of consensus is problematic and can be the biggest threat to bitcoin in the end but there is hope that people (I am thinking mainly about Chinese miners here)
will pick improvement and progress over fast cash here and now.

I just wish people would learn how to write english properly, some of these threads become really hard to read...... ::)

No! Problems are being solved in every business in the real world. The electric car wasn't working, but now we have some which can drive 300 miles. Lightning is getting more efficient with LEDs. We're having smartphones with more computing power than a mainframe computer of 20 years ago. Cars are getting safer and faster...

I created this topic as a reaction to Mike Hearn's departure, but I shall add that I'm a BTC entrepreneur. I have a BTC business waiting on my server (well, a small one, it would be managed in my spare time at first). My project has been sitting since last summer, but I'm not launching it because the market conditions aren't good. I'm ready to make it big, and I'm willing to put money into it, but BTC's future is just not secure enough at this time. I need to see where BTC's heading and I need to be sure that BTC can grow big without any hiccup.

I'm waiting for this too. I'll be happy to see Bitcoin settled into new block size.

No need to. This coin is here to stay for a long time and I truly believe it will have a bright future.

Hey!  I collect stamps, I'll have you know and I'm not old.  I also write letters and pay my utility bill the old-fashioned way with a check through the mail.  And I still text and use a smart phone and all the other new-school ways of communicating as well.  And I use bitcoin, and from my limited understanding of bitcoin I think its problems are way overblown.  But I do admit my understanding is limited.  I don't want any dissing of stamp collectors here.  LOL

Gavin is radical but I have to admit he is objective most of the time: Hearn is just too pessimistic

I don't think BTC will be damaged that much by Hearn choice to leave, it's a free market and if you couldn't convince others to follow your opinion "or at least the majority of them" then that's it. Thanks for Hearn for all his effort with BTC but calling it a failed project is over-the-top IMO

Death of Bitcoin delayed again: 420

The problem that Bitcoin was dead was a small thing at the start and then now it has become a huge deal. What are we doing?

Wow, what a pessimistic outlook about the bitcoin future...! But unfortunately it seems a very realistic idea about what could occur with this technology given these negative conditions. I have been always aware of it and that is why I prefer to diversify my investments, avoiding any excessive confidence about the future of bitcoin.

I agree, some of the issues at hand seem to be very overblown.. I understand you don't want to hardfork a system like bitcoin whenever it suits you, but if it is needed, it should be done.

Unfortunately, many of the developers and miners have their own agenda, making it very difficult to propose changes that most people can live with. This is what causes the problems.

You can rest! I've got nothing about stamp collectors. I used this as an example of a group with static, or nearly static user base.

Let's look at snapchat: it gains more new users in a single month than BTC does in one year. Why? I've been here long enough to remember that where there guys saying that BTC would grow bigger than Facebook. It hasn't, and nobody's saying that anymore. BTC has just stalled. It's not dead, nor dying, but the huge growth everybody was expecting is nowhere in sight, and one reason behind this is the scalability issue. BTC needs to be able to grow ten-fold this year, and one hundred fold next year.

Try your own struggle, the problem with that will be solve sooner, problems occurr everywhere and also some of the users at there leave to work at there, but the system does not stop. Someone there solve the problem. I do not worry about bitcoin ecosystem, it will overcome, there is no need of diversifying my investments.

That's a poor comparison. Snapchat is free, costs nothing to use, and has no risk to entry. Bitcoin is more useful in the long term, but its money after all. Snapchat is a toy.

it is now around $390 AFAIK, bitcoin is now considered to be 'impending dead' once again. :(
that's too funny that bitcoin has 'dead' for at least 50 times.

No problems brother, its a part of Bitcoins life. It will go up but once some people withdraw good amount of Bitcoins and less usages there it goes down. So can get the rate what we want, when we all hold our Bitcoins till 450 dollars.

Sorry but I don't understand what you're getting at OP. What do you suggest?

Are you suggesting we should support hard fork? because thats what I feel like you're saying.

I really wonder why some people are really pushing so hard for hard fork.

Why feel pity for bitcoin? We are still quite popular. We're being occupied by new people all the time and it is wonderful. I never have any issue with Bitcoin. My only issue is what people say about it without ever occupying it themselves.

Very true. Not to mention there are big players coming in the game and new merchants supporting Bitcoin. Haters gonna hate bro.

The problem about the blocksize is a substitute. The real "problem" is chinas influence on BTC.
The governemnt does NOT accept it, but they maintain most of the mining.

BTC rate will never go to the top in this situation, the half step next year could most likely bring a higer rate.
Between $600 and $1000 seems possible. If, this continues as it is.

Transactions and mining are chained together, it will become one business, simply that.
china had 4 trillion dollar in foreign currency. The Yuan has become reserve currency, accepted by the IWF.
They are increasing their influence. And for a lot of BTC enthusiasts this equals less freedom.
Let's be honest about that.

In the worst case we will have ideological differences reflecting the imminent boundaries between different cryptocurrencies.

Isn`t coming up faster miners can solve this issue? If machines are processing blockchain faster, perhaps problem could be solved? It might sound like a stupid question, i just don`t know much about the problem yet.

I think the way to go is by using payment channels which can be set up as an address on the blockchain, and then used repeatedly off-chain.

Doing this with a properly set up network (the so called Lightning network) of intermediaries (who don't need to be trusted) will mean far fewer blockchain transactions - and another advantage is that payments are instant. If it happens, bitcoin would (and could) definitely absorb new users.

I'm not sure what the current status is. Last I heard a soft fork is needed to add OP codes.

I'd love it to happen - in my opinion, this is the smart solution to the scaling problem.

quite illusive.
the discussion about the maximum block size is flanked by too many different arguments.
Proposals differ from the kind of your suggestion to just doing nothing.
As the size was very much larger at the beginning, it is most likely this is going to happen.
Why?
the 1MB is not an elementary part of BTC.
and, it is the best solution in terms of complexity. Much easier to implement than splitting it up.
Kicking the can down the road, is by what I undertood, a mere politcal statement.
Not the most senseful in terms of BTC.

Isn`t it something similar to Xapo wallet doing? All internal transactions are confirmed instantly.

Well we cant compare Stamps with Bitcoins. and bitcoins are not dead. once the problem is resolved you cant think how fast its gona grow.
It just a matter of time and sooner or later bitcoins will dominate.

You should feel pity for Mike Hearn as he:

1) Sold his coins before the huge pump that's coming
2) His power grab attempts failed (XT is dead and so is Classic)
3) He will be remembered as the idiot that was wrong and joined the collapsing industry (banks)

When will they learn.

yes i totally agree. the huge pump on bitcoin is coming this year. At least all the bitcoins holders should keep there coins save till that time and maybe earn double profits later this year in july August.

I also have pity for bitcoin and i hope this year it will be the biggest thing and more people will use it than paypal

Why should you feel pity for bitcoin?
Bitcoin already won and became the world currency. You should feel pity of not having a lot of BTC

I wouldn't say that Bitcoin has won and become the world currency, but I will agree that OP should feel bad for not having more Bitcoin than what he has, at least from an investor's perspective.

It is not necessarily misplaced faith if you believe that Bitcoin can become a major currency of the world, but I would still wait a while before making such an extreme claim.

Are you really trying to judge/lecture someone on things that you think are about to happen ?

At least wait until it happens before taking this condescending attitude...

I'm not a loser. :( :( Mike Hearn left because he was getting so much hate he couldn't handle it.

Mike Hearn left because he has a hidden agenda. And not because he was getting much hate. At the very beginning there was a lot panic, but all the negativity this dude has created has cleared up.

He did cause a lot of panic and people to have less faith in Bitcoin itself, even though it still has been going strong this year. People thought it was going to fail back in 2011, look where it is now.

Yes true !!  we dont have too many BTC. and when the price will rise, we shall be feeling pity  of having less
Bitcoins.