An Open Letter to the Bitcoin Community from the Developers

[jonald_fyookball]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

[1714826094]

1714826094

[theymos]

FYI: If you can make it to Montreal and you think that you can actually add something to the event, I'm giving away two conference tickets. See here.

Personally, I do not have $2000 CAD to fly across the country and join the confrere.

You'll be able to participate without attending in person. The event will be livestreamed, and everyone there will be connected to an IRC channel that will be open to the public.

[Kakmakr]

I am all in for a debate on this subject and just hope they sell popcorn at the venue. You cannot miss this opportunity to rub shoulders with the main peanuts in Bitcoin.

In the left corner we have Bitcoin Core weighing in at 6000 supporters and in the right corner we have Bitcoin XT weighing in at 700 supporters. Let's get ready to rumble!

Anyone think it will be a fair fight? The referee for the fight will be ? ^puzzled^

[Denker]

I hope someone makes sure the whole event gets video taped. Montreal is way too far for me. However I would like to see as much as possible from that conference.
Furthermore I hope this will be a honest and really open minded debate. No shilly-shallying anymore.We need solutions!

[achow101]

I hope someone makes sure the whole event gets video taped. Montreal is way too far for me. However I would like to see as much as possible from that conference.
Furthermore I hope this will be a honest and really open minded debate. No shilly-shallying anymore.We need solutions!

It is being live streamed so someone will probably record it if they aren't already. Other people can still participate in online discussion they are hosting.

[jonald_fyookball]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

Still waiting for an explanation on this one Carlton.   Has your bias on this debate degraded your thinking
to the point of spouting non sequitors?

[danielW]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

Still waiting for an explanation on this one Carlton.   Has your bias on this debate degraded your thinking
to the point of spouting non sequitors?

It makes about as much sense as the blockstream conflict of interest

[jonald_fyookball]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

Still waiting for an explanation on this one Carlton.   Has your bias on this debate degraded your thinking
to the point of spouting non sequitors?

It makes about as much sense as the blockstream conflict of interest

By keeping the 1MB limit in place, Core developers would
force transactions off the main chain as Bitcoin scales.
And Blockstream is in the business of building sidechains,
and other extensibility.  I think that is a very solid argument.
You can disagree with the conclusion but should be honest enough
to admit that the argument is at least plausible on the surface.
What Carlton is saying is just nonsense
that he can't even explain.  

[turvarya]

According to an interview with one of the devs, they planned the workshops BEFORE Gavin broke off, and Gavin knew about the timing of the workshops when he and hearnia launched the spork. 

So, why did it take them so long to announce it publicly. Doesn't make much sense, does it?

[QuestionAuthority]

So the chief cat wrangler Gavin doesn't sign the letter and doesn't agree with it? Mike Hearn doesn't sign the letter and doesn't agree with it? The ones that did sign want to show love and solidarity with the "Bitcoin community" (whatever that is) except they have it in such remote locations that no one will be able to go? Good luck adding any useful comments by watching a webcast. If you're Chinese it's too far away and if you're in the Western Hemisphere it's as far north as you can get. That makes sense. Sure, I get it.

It's a good thing I don't want to go anyway. I don't trust five people on that list.

[knight22]

So the chief cat wrangler Gavin doesn't sign the letter and doesn't agree with it? Mike Hearn doesn't sign the letter and doesn't agree with it? The ones that did sign want to show love and solidarity with the "Bitcoin community" (whatever that is) except they have it in such remote locations that no one will be able to go? Good luck adding any useful comments by watching a webcast. If you're Chinese it's too far away and if you're in the Western Hemisphere it's as far north as you can get. That makes sense. Sure, I get it.

It's a good thing I don't want to go anyway. I don't trust five people on that list.

Don't speak too fast: https://bitcointalk.org/index.php?topic=1169062.0

[Carlton Banks]

Circle and their dubious connections:


Investors Goldman Sachs and Accel:

http://blog.circle.com/2015/04/29/new-circle-investors-new-us-dollar-account-features-china-horizons/

Employing a formerly JPMorgan/Deutsche Bank executive as CFO:

http://blog.circle.com/2014/12/11/circle-team-leadership-expansion/

Employing former SWIFT CEO ( + previous investment from Accel):

http://blog.circle.com/2014/03/26/circle-closes-17-million-series-b-rolls-consumer-product-invite-limited-release/

Employing former Bank of Ireland/Goldman Sachs financier as their MD:

http://blog.circle.com/2014/07/02/circle-appoints-fintech-leader-former-bank-ireland-director-garrett-cassidy-head-european-operations/

Employing former Special Advisor to US Treasury Secretary Tim Geithner as a Director:

http://blog.circle.com/2013/11/14/circle-names-former-banking-industry-exec-head-u-s-consumer-financial-protection-bureau-raj-date-board-directors/

Employing former board member at Wal Mart/Cisco/Goldman Sachs as "global finance executive" (at the same time the Mike Hearn becomes an advisor):

http://blog.circle.com/2014/01/16/circle-adds-new-board-member-announces-key-advisors/

Launch announcement of Accel investment:

http://blog.circle.com/2013/10/30/introducing-circle/



Do you want more?

"But what's wrong with all those highly desirable individuals companies?". Fair question lol, it will be answered in a separate thread that I will prepare.

[QuestionAuthority]

So the chief cat wrangler Gavin doesn't sign the letter and doesn't agree with it? Mike Hearn doesn't sign the letter and doesn't agree with it? The ones that did sign want to show love and solidarity with the "Bitcoin community" (whatever that is) except they have it in such remote locations that no one will be able to go? Good luck adding any useful comments by watching a webcast. If you're Chinese it's too far away and if you're in the Western Hemisphere it's as far north as you can get. That makes sense. Sure, I get it.

It's a good thing I don't want to go anyway. I don't trust five people on that list.

Don't speak too fast: https://bitcointalk.org/index.php?topic=1169062.0

Ha ha! Thanks, that answers one of my questions. Hearn thinks it's just a load of crap same as I do.

[Mickeyb]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

The fucker is too dumb to understand what conflict of interest means.

OK, I don't fail to see a conflict of interest, but isn't it for a Circle most important that Bitcoin survives and does well? If these big banks are funding Bitcoin start-ups in order to destroy them and Bitcoin, isn't then natural to think that Circle would recognize this, took banks money and say f**k to them?

I mean, if they do side with Goldman Sacks and the others, and they got destroyed in the process, then they will end up out of the game and on the streets.

P. S. Just thinking out loud!

[jonald_fyookball]

Circle and their dubious connections:

 

So what if they are dubious?  How's that a conflict of interest?
Are you suggesting that they are dubious because they are banks
and thus want Bitcoin to fail and so they invested in a Bitcoin company??
And then supported a BIP proposed by Gavin which is somehow bad?

Mental gymnastics anyone?
 

[Carlton Banks]

OK, I don't fail to see a conflict of interest, but isn't it for a Circle most important that Bitcoin survives and does well? If these big banks are funding Bitcoin start-ups in order to destroy them and Bitcoin, isn't then natural to think that Circle would recognize this, took banks money and say f**k to them?

I mean, if they do side with Goldman Sacks and the others, and they got destroyed in the process, then they will end up out of the game and on the streets.

http://blog.circle.com/2014/05/16/circle-update/

Circle is free to consumers. There are no fees for deposits and withdrawals, and no fees for our secure storage, theft insurance or any bitcoin-to-bitcoin transactions. We don’t think consumers should be charged for using their own money.

So, how are Circle making money if they're paying all the Bitcoin transaction fees for their customers to withdraw their money? And the whole of the rest of the service is free? Arguably, the answer is in the rest of the linked blog post from circle.com.

[knight22]

I understand that companies like Circle (who are BIP101 backers) have Goldman Sachs and Moneygram as investors  
Little bit of a conflict of interest, perhaps?

I fail to see the conflict of interest.  What does Goldman and Moneygram have to do with anything ?

The fucker is too dumb to understand what conflict of interest means.

OK, I don't fail to see a conflict of interest, but isn't it for a Circle most important that Bitcoin survives and does well? If these big banks are funding Bitcoin start-ups in order to destroy them and Bitcoin, isn't then natural to think that Circle would recognize this, took banks money and say f**k to them?

I mean, if they do side with Goldman Sacks and the others, and they got destroyed in the process, then they will end up out of the game and on the streets.

P. S. Just thinking out loud!

 Realize this, a lot of big companies have invested millions to bring bitcoin to the mainstream and for this to happen, they need bitcoin to scale and now. They have deep pockets and will use this money to achieve their means (i.e. stress tests and it won't stop there) and they won’t let a single company called “Blockstream” stand on their way.

[knight22]

OK, I don't fail to see a conflict of interest, but isn't it for a Circle most important that Bitcoin survives and does well? If these big banks are funding Bitcoin start-ups in order to destroy them and Bitcoin, isn't then natural to think that Circle would recognize this, took banks money and say f**k to them?

I mean, if they do side with Goldman Sacks and the others, and they got destroyed in the process, then they will end up out of the game and on the streets.

Circle is free to consumers. There are no fees for deposits and withdrawals, and no fees for our secure storage, theft insurance or any bitcoin-to-bitcoin transactions. We don’t think consumers should be charged for using their own money.

http://blog.circle.com/2014/05/16/circle-update/

So, how are Circle making money if they're paying all the Bitcoin transaction fees for their customers to withdraw their money? Arguably, the answer is in the rest of the linked blog post from circle.com.

Circle intentions are no suprise and no secrets from the whole beginning and they do share the same goals than most of the biggest companies in the bitcoin space. It’s just too bad you just came to this realisation. The only thing they are now asking for is SCALING and there is nothing to be afraid of since it was part of the original vision of Satoshi.

[Carlton Banks]

Circle intentions are no suprise and no secrets from the whole beginning

Which is precisely why I'm supplying the information from Circle's own press releases

and they do share the same goals than most of the biggest companies in the bitcoin space.

Except for all those that don't share their goals, of course

[knight22]

and they do share the same goals than most of the biggest companies in the bitcoin space.

Except for all those that don't share their goals, of course

Except the miners that are reluctant, which are?