"Bitcoin is Dead" - Mike Hearn

[smoothie]

No one is talking about bitcoin anymore.

Ohh the irony of that statement ^ 

I dont see what so ironic brother. It's true. A lot of major players who were talking btc daily are now talking blockchains.
 

"no one" = at least Bobsurplus

Get a clue buddy 

[Blind Legs Parker]

By the looks of it, Mike Hearn is a complete retard. If Bitcoin is dead, then why is the price still so high.

He wants people to buy into his BS so that they'll switch to his alt(?)coin, which will return him to the power he had back when he was part of the Bitcoin foundation and actually slightly meant something in the Bitcoin economy. (I do not know if he was on the foundation board but I would assume he was).

The price is high because of confidence, and this is one of the most easily exploitable emotions in trading, and especially in the Bitcoin economy.

Just ignore him and let him spew whatever he wants, no-one cares about him anymore. He's washed up and trying to feel important again. Don't give him that luxury.

I share the same opinion on this matter. Though I wouldn't say that Mike Hearn is a retard because he obviously is not. But he sure looks very disappointed, and the kind of disappointed that, as someone said earlier, seems to make him want to destroy what he can't own.

Now about the news itself I would have sold if I had known about it earlier, and maybe I should still now, but only to buy back when the price has gotten lower. Confidence is here. Bitcoin is still there, in a form that doesn't satisfy everyone but enough people to keep the value above certain prices.
Now I don't know the future. That piece of news could still have more impact on bitcoin than it has had until now (a $430 to $415 drop is nothing) but it will not kill bitcoin. Let's stop and be realistic a minute. In fact, if the price drops back to $400 because of this piece of news I might just buy like crazy.

There's just one thing that bugs me inside Mike Hearn's blog post:

Think about it. If you had never heard about Bitcoin before, would you care about a payments network that:
Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it)

I can't think of any reason why he would lie, so I'll just go with the assumption that he's telling the truth. Also, I can't think of a reason why developers would take such a decision lightly. In fact, if such decision was taken, it has to have some good sides to it. So now, why did they take such a decision? No matter how I look at it it looks extremely stupid. I can't think of any good reason. Does anyone know more than I do?

[matt4054]

I can't think of any reason why he would lie, so I'll just go with the assumption that he's telling the truth. Also, I can't think of a reason why developers would take such a decision lightly. In fact, if such decision was taken, it has to have some good sides to it. So now, why did they take such a decision? No matter how I look at it it looks extremely stupid. I can't think of any good reason. Does anyone know more than I do?

The "walk out of the shop and reverse my transaction" analogy from MH is a dramatic exaggeration.

He explains what he means further down in his post, it's about replace-by-fee.

Of course, Core devs haven't added a push button to allow tx reversal. That's just not the case. What they added is a possibility for someone who broadcast a transaction that hasn't been confirmed yet (i.e. zero conf) to re-broadcast it to someone else (as a side effect, the intended purpose is to reallocate tx fees), so current implementations who accept zero-conf payments would be broken.

[LFC_Bitcoin]

Mike Hearn is a fucking disease

[iCEBREAKER]

Mike Hearn is a fucking disease

Mike Hearn is the Lucky7coin of crypto.  A Trojan horse injected into our ecosystem by spear phishing greedy, credulous noobs.

It's nice that both of them have been relegated to history's heap of abandonware.

[AGD]

One more good thing about Bitcoin: Even when a fork fails, it can be repaired!

[gravitate]

Well thats me done selling all my coins ready for the dip.. Lets hope I can buy them back cheaper 

[LuckyYOU]

I don't think bitcoin is dead or dying at all

I think this is for people to find excuses on to why bitcoin will fail or die out

They don't want to see bitcoin succeed

[Amph]

Mike you can fill this you know, after 9 january

https://99bitcoins.com/bitcoinobituaries/

[gravitate]

By the looks of it, Mike Hearn is a complete retard. If Bitcoin is dead, then why is the price still so high.

He wants people to buy into his BS so that they'll switch to his alt(?)coin, which will return him to the power he had back when he was part of the Bitcoin foundation and actually slightly meant something in the Bitcoin economy. (I do not know if he was on the foundation board but I would assume he was).

The price is high because of confidence, and this is one of the most easily exploitable emotions in trading, and especially in the Bitcoin economy.

Just ignore him and let him spew whatever he wants, no-one cares about him anymore. He's washed up and trying to feel important again. Don't give him that luxury.

I share the same opinion on this matter. Though I wouldn't say that Mike Hearn is a retard because he obviously is not. But he sure looks very disappointed, and the kind of disappointed that, as someone said earlier, seems to make him want to destroy what he can't own.

Now about the news itself I would have sold if I had known about it earlier, and maybe I should still now, but only to buy back when the price has gotten lower. Confidence is here. Bitcoin is still there, in a form that doesn't satisfy everyone but enough people to keep the value above certain prices.
Now I don't know the future. That piece of news could still have more impact on bitcoin than it has had until now (a $430 to $415 drop is nothing) but it will not kill bitcoin. Let's stop and be realistic a minute. In fact, if the price drops back to $400 because of this piece of news I might just buy like crazy.

There's just one thing that bugs me inside Mike Hearn's blog post:

Think about it. If you had never heard about Bitcoin before, would you care about a payments network that:
Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it)

I can't think of any reason why he would lie, so I'll just go with the assumption that he's telling the truth. Also, I can't think of a reason why developers would take such a decision lightly. In fact, if such decision was taken, it has to have some good sides to it. So now, why did they take such a decision? No matter how I look at it it looks extremely stupid. I can't think of any good reason. Does anyone know more than I do?

What is his alt coin?

[chennuan]

No, you don't know what will happen in the future.
2015 bitcoin lowest price is $2015，now the price is $420, up to $500,You don't know what will happen next, the bitcoin may reach 1000$.

[Bobsurplus]

No, you don't know what will happen in the future.
2015 bitcoin lowest price is $2015，now the price is $420, up to $500,You don't know what will happen next, the bitcoin may reach 1000$.

Bitcoin is over. Give up the crack pipe and open our eyes.
BTC  @ $1000 is a pipe dream.

[Bitcoinpro]

No, you don't know what will happen in the future.
2015 bitcoin lowest price is $2015，now the price is $420, up to $500,You don't know what will happen next, the bitcoin may reach 1000$.

Bitcoin is over. Give up the crack pipe and open our eyes.
BTC  @ $1000 is a pipe dream.

its not a pipe dream if someone has to convince you that it is

[Quantus]

He wanted to build a coin that could do everything and cost nothing and he wanted to have complete control over it. Now hes throwing a tantrum. This all comes back to block size, fees and network security.

Bitcoin was never meant to be free, freedom is not free and neither is Bitcoin.  As the block reward is cut in half again this Aug 2016 we will be facing further contraction of the mining community. This consolidation is the result of stagnating hardware deployment. Large corporate entities are restricting deployment of cutting edge mining gear to large farms and this is threatening the social economics of the Bitcoin mining network. By consolidating the best new hardware to only a few locations and reaping the majority of the rewards at lower cost our network as a whole is becoming antiquated.  But there is a solution, people don't like it but there is a solution and its the only way Bitcoin will survive. We need higher fees in the rage of 1 to 2 USD per transaction, that or to somehow grow our user base by a factor of 10 fold in the next seven months. We have run out of time the next block subsidy cut will only worsen the current situation, accelerating consolidation of the mining community until only one entity controls it all. We have been operating with a zero minimum transaction fee for years, its time to start paying for our network.

After we hit the 1MB limit (and I hope it comes as soon as possible) micro payments will be pushed off the network as fees rise and as a result more miners will reenter and reinvest in cutting edge hardware leading to a more stable, distributed, forward looking and vibrant mining community.

In time our community will grow allowing us to raise the block size, lower fees and allow micro payments once again and implement other features but we must work with the network we have now and not the network we hope to someday have. The Bitcoin community is entering troubled waters, to ensure our survival and reach our promised land we must grow our user base but we well never get the chance if our network collapses under its own wight first. We must be prepared for a long winter with slow growth. It may take us decades but our success is inevitable.  

[Mickeyb]

Bitcoin is over.

[MaritiJames3]

I don't believe bitcoin is dead at all. I think bitcoin is still at it's early stages of adopting. As long as there are bitcoins to mine, bitcoin won't die out.

There will always be miners out there mining bitcoin, until all of it is mined.

[phreaky]

Bitcoin is over.

Why would you say that? If it was going to be over I think we would have seen now in the news that bitcoin is down.
Bitcoin won't be going down that easy I think if that happen a lot of people would just get mad. We will see every one said that this year is the year for bitcoin so we will see about that is it is true or not.

[flagpara]

I mean this question sincerely:  Who the fuck is Mike Hearn?

I'm like part-time into bitcoin and I don't read a lot of news or a lot of anything, and I should.  But I don't know who this guy is.  Or why his opinion carries extra weight.

Same here. It makes me doubt a lot about bitcoin. It seems like there are incredible fights of power underneath, great influence controverses by people I don't know a shit about.

I can't use a currency if its stability solely depends on the faith of 4 dev...

[gravitate]

So I think the block size growth still needs to be addressed for sure.. BITCOIN UNLIMITED sounds good.  But the emotional community will indeed sell all their coins. I see it happening now on UK sites. Oh well.

[Searing]

Bitcoin Classic rolls out, and days later there is no word about it in the News Media.

Mike Hearn declares Bitcoin dead and within hours it is in the New York Times.....

In other words, Bitcoin_Classic is about as newsworthy as Unlimited.  IE, not at all.

XT set the bar for hilariously futile vanity fork and governance coup attempts, but these new shitforks have no chance of raising it.

Code:

REKT

In the article he talks about in detail all the FUD and drama ....that his FORK should not have been the source of stuff....however it seems to me that he seems to talk about the
core devs in the same manner that they talk about xt...so go figure.....his open source universe of my way or the highway it seems

also he is now working for private blockchain interests by such a letter and getting rid of all btc ( hell who could tell) he clears things up for his 'new corporate masters"

so wtf is the difference between his working for 'private blockchain crypto code" and "bitcoin open source code that has some centralization properties vs his new working
environment which is ALL centralization on such projects from what I can tell....assuming I give him 'some' on his btc centralization tendencies ....for fairness in his views...still lame

what western bankers can centralize a crypto coin...with private blockchain efforts but somewhat (if he is to be believed) centralized btc run out of china via miners is NOT OK

seems he wants it both ways

1) bitcoin xt "benevolent dictatorship" (his words)

or

2) open btc crypto in his manner if he can't have the above

hell then he goes on about 'bitcoin classic' and muddles it all up further

seems his 'agenda' is slipping like a 'fat man's butt crack'

man what a tool ..it just seems a bit too much 'I'm gonna quit now because just because I was mean to you guys you were mean to me back" kinda gonna take his toys and go home

sheesh.....I MAY believe his points IF other bitcoin core devs as things change act as 'immature' about stuff not going their way with core code or whatever....that part of his 'rant'

has me wondering.......bunch of nerds running a great tech idea with 'big money' involved....well hell what could go wrong

but I think HE is an isolated individual in all this...even if SLOW i think others WILL do what needs to be done with code if/when it has to be done...sloppy yes.....dragging of feet yes
but BTC development is making a house by committee...it don't have to look pretty ..it just has to do its function and keep the rain/snow out

just a bit too much 'everyone is an evil greedy f*ck but me tone in all this rant*  anyway wtf do I know at one time I drank the BFL kool aid (got a refund) but still I fess up when
I'm plain ass wrong....not sure if he can face such a possiblity

just my take on the usual 'Bitcoin of our Lives" the continuing 'Soap Opera"...never a dull moment....

(*hey Icebreaker...how's it going by the by*)

edited this additional: Mike Hearn's NEW somewhat less then open source masters

http://www.bizjournals.com/newyork/news/2015/11/20/bitcoin-core-developer-joins-blockchain-consortium.html