"Bitcoin is Dead" - Mike Hearn

[jonald_fyookball]

I agree.  May I ask you another question: If Bitcoin Classic is accepted, will it be robust enough to be able to compete with what the R3 blockchain group will put out?  I mean, the R3 group scabbed Hearn (among others), invested 9 billion USD in research alone (Bitcoins present marketcap is only 5.8 billion USD), and serves a huge US banking system with a platform and customer base already in place.  Surely, whatever the R3 group comes up with, it will be a totally different critter than Bitcoin, but what impact will it have on the adoption of Bitcoin Classic and the Bitcoin community in general?

One thing has nothing to do with the other.

I assume you mean if Bitcoin Classic is accepted widely and miners don't splinter.  In which case, (barring a catastrophic bug, which is very unlikely) Bitcoin would be just as robust as it is now.

R3 sounds like it has impressive resources but as far as I can gather its purpose is to bring distributed ledgers to the financial world, not to create a true peer to peer currency like Bitcoin.  In other words, its just a fancy way to move fiat around.
 

[1715429208]

1715429208

[lolgato]

Bitcoin is revolutionary I doubt I would die after a little dump or some ignorant person leaves the bitcoin community.The fact is there is still thousands of people still using bitcoins.

[orpington]

bitcoin classic is about as useful as a bag of dirt 

[The Bitcoin Co-op]

bitcoin classic is about as useful as a bag of dirt 

We need Classic. The Core developers are fucking around.

[Searing]

bitcoin classic is about as useful as a bag of dirt 

We need Classic. The Core developers are fucking around.

At the very least the 'core devs' have to step up and put on a timeline WHEN they plan to do a hard fork now to at least 2mb imho....

they may think they have a more 'elegant solution' with soft forks and such ..but the masses are restless....so they have to do that

and also show some more 'movement' on where they want to go coding wise in the future......

the catch is a frigging 'timeline' to hard fork to 2mb say 3 months ago on top of the talk of their other innovations ..if core devs would have done

that ..then hell ..imho the 'confidence' of that planing would way offset any problems with a 'hard fork' to 2mb blocks

I suppose if the FUD continues and price dumps to 150 usd btc (shudder I need 230 or above to break even) ..then all the above will get done

I mean they got to be a bit more frigging 'pro active' and 'consensus building' less our way or the highway

I suppose the example of the 'bitcoin foundation' should temper my expectations


I do sometimes wonder if these folk that are core devs or other bitcoin devs ..being 'early adopters' in their unconscious minds really think that 450 is as high as
the price can go..I mean mining at 12c a coin back in the day..they may have frigging lost touch with the new reality of 2015?
.would explain a lot about there 'it will get done when it gets done' and such actions it seems to me..


anyway right or wrong from a coder point of view (i don't code) the masses have spoken....eventually core devs need to fess up to doing a hard fork to 2 MB
and a timeline or triggers for more in the future......with 20% say of FUD with the other alternative chains for BTC ....it is just enough to rock the boat
...that is if they want their 'core vision' to prevail......just suck it up already....go with the flow

anyway how it seems to me (and others) from digging thru the FUD

[davinchi]

@pompatore thanks for posting this.

Interesting reading and I'm not so sure if it's wise to ignore all of this. If he's right BTC might go down rather sooner than later.

Of course, he is right. he was inside Bitcoin for years He knows many people(investors, exchangers, miners).

Rightly so, I think the insiders know much much more about it rather than us.
We can just guess things and say no bitcoin still has huge potential, but the insiders always know the actual condition and technical views.

[Digitalbitcoin]

So is Bitcoin dead? It is not dead. Objectively, the Bitcoin markets are still alive and well, and the Blockchain, the digital platform on which the currency relies, is still operational. As Elizabeth Stark points out on Twitter, people love to declare that Bitcoin is dead. According to this running tally, Bitcoin has been declared dead 88 times. (Hern's post would be the 89th instance of someone falsely claiming the currency was dead.) People have been declaring Bitcoin dead since 2010, and it's been declared dead twice already in 2016.

[Rescue Squad]

The price seems to be recovering from that $350 drop let's see what happens next week.

[DimensionZ]

@pompatore thanks for posting this.

Interesting reading and I'm not so sure if it's wise to ignore all of this. If he's right BTC might go down rather sooner than later.

Of course, he is right. he was inside Bitcoin for years He knows many people(investors, exchangers, miners).

Rightly so, I think the insiders know much much more about it rather than us.
We can just guess things and say no bitcoin still has huge potential, but the insiders always know the actual condition and technical views.

I think he mentioned that in the long-term the value of bitcoins will decrease not increase which I found disturbing. What if after the halving the value doesn't increase and costs of mining become unsustainable?

[mercistheman]

Mike Hearn is dead to the community... It's important that no one follows Benedict Arnold to his anti Bitcoin sellout.
It's time to rally together.

[mxnsch]

@pompatore thanks for posting this.

Interesting reading and I'm not so sure if it's wise to ignore all of this. If he's right BTC might go down rather sooner than later.

Of course, he is right. he was inside Bitcoin for years He knows many people(investors, exchangers, miners).

Rightly so, I think the insiders know much much more about it rather than us.
We can just guess things and say no bitcoin still has huge potential, but the insiders always know the actual condition and technical views.

I think he mentioned that in the long-term the value of bitcoins will decrease not increase which I found disturbing. What if after the halving the value doesn't increase and costs of mining become unsustainable?

Many will stop mining and the difficulty will drop, again.

[Amph]

The price seems to be recovering from that $350 drop let's see what happens next week.

350 was very strong resistence, there was no way that it can drop, and anyway the halving is incoming

people that were thingking about sub 300 or evne worse sub 200, don't have  asingle clue how bitcoin halving work and why the price must increase in the future

[Digitalbitcoin]

@pompatore thanks for posting this.

Interesting reading and I'm not so sure if it's wise to ignore all of this. If he's right BTC might go down rather sooner than later.

Of course, he is right. he was inside Bitcoin for years He knows many people(investors, exchangers, miners).

Rightly so, I think the insiders know much much more about it rather than us.
We can just guess things and say no bitcoin still has huge potential, but the insiders always know the actual condition and technical views.

I think he mentioned that in the long-term the value of bitcoins will decrease not increase which I found disturbing. What if after the halving the value doesn't increase and costs of mining become unsustainable?

Many will stop mining and the difficulty will drop, again.

Very true. It will again take some time to reach higher price for Bitcoin.

[mayax]

The chinese miners are too greedy to stop.

[btckold24]

is this why bitcoin went down like 50 over the past week?

I wasnt paying a ton of attention but was this clown the reason for the drop?

[rokkyroad]

is this why bitcoin went down like 50 over the past week?

I wasnt paying a ton of attention but was this clown the reason for the drop?

Apparently, he was.

Why people reacted to it is the 64 million dollar question. His motives are certainly questionable.

[arbitrage]

Whatever happened this idea have been seen by millions of people so bitcoin 2 will emerge soon or maybe is here already.
 But l don't believe a word troll saying.

[BruceSwanson]

Hearn's tone deaf cri de coeur doth protest too much and reminds me of what writer Mary McCarthy said about playwright Lillian Hellman: her "every word is a lie, even and and the." It's a pity the crowdsourcing prediction-market system Augur.net isn't up and running yet. It would have been a counterbalance to the news media's use of the "issue" as breathless click-bait and I agree with those who see the price drop as a herd-panic over the Cryptsy crash.

Bitcoin isn't dead. It's just doing what all successful revolutions do: taking on a life of its own. Kind of like the election of Andrew Jackson.

[DrClayForrester]

Mike.mp4

[Ya-ing]

I hope is not dead yet, I still have to know it well lol.