I feel pity for bitcoin

[countryfree]

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.

[1714862312]

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[fortunecrypto]

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

[chennan]

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.

[vm_mpn]

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.

[justspare]

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

[btctube]

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.

[foxbitcoin]

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.

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.

[MicroGuy]

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

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!

[goinmerry]

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.

[nonbody]

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.

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.

[btcdevil]

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.

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.

[crazywack]

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.

[Karartma1]

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.

[equator]

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.

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.

[arbitrage]

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.

[Windpower]

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.

[1Referee]

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.

[romero121]

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.

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

[pawel7777]

Being one of the few with legendary status on this forum you know what you are posting about,...

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.

This is the answer, stay the hell away from anything that adds another word onto Bitcoin; Bitcoin XT, Bitcoin Classic, etc!
...

...Bitcoin Core