I am sorry to say, Mike Hearn was right.

[Xester]

Today you either pay the price to get processed fast, either wait the correct moment to send your transaction for smallest fees.
People that don't know this say a lot of useless crap just because they are angry, or they can, or it fits their business model.

SegWit is a step forward. Maybe not the best movement because it may not be accepted by the high percent required, but it's still a step forward.
If they think it well, 4MB, 8MB or whatever are not the best choices. The best choice is dynamic size. If or when this will get implemented, it's a matter for the future.

For now Bitcoin is FAR FROM DOING BAD and the market is well aware of this.
So no, Mike Hearn was not as right as OP would like....

Yes there is bitcoin congestion but there are answers to every problem. Even with these problems bitcoin still continue to grow and though the big companies decision such as circle to leave bitcoin has negative impacts to some users, bitcoin will still increase its value.

There are truths spoken by Mike Hearn but saying in 5 years bitcoin is a goner is a speculation that is exaggerated.

[goregrind]

You don't need Greg Maxwell's permission. This is Bitcoin. The code is open source.

this is a shitty thread but this is an angle that's often rolled out that doesn't quite ring true for me. that's like some fat mom in an arkansas backwater deciding she wants to run for president. you can certainly do so and no one's gonna stop you. no one's gonna pay you the slightest attention either.

How come it doesn't sound true to you ? Are you implying that in order to feel that thats true you need to be able to modify bitcoin according to your wishes
and everyone needs to follow ?
You can both modify bitcoin and run for president and the number of real followers you get is a direct metric of how good your ideas are.
If you're not getting any followers and you still feel you're in the right then nobody can help you.

[Kprawn]

These Circle jerkers will soon realize that they made a huge mistake to turn against the Bitcoin community. They were happy to ride on

our backs, but now that they made their profits off our backs, they turning their backs on us. The only reason why they were needed, were the

government regulations forcing people to use them. In a perfect scenario we would not need any of these third party services. Mike Hearn

turned against Bitcoin and ran to R3 and now he is creating shit there too. 

[TKeenan]

These Circle jerkers will soon realize that they made a huge mistake to turn against the Bitcoin community.

They didn't turn against Bitcoin, Bitcoin turned against them. 

[IIOII]

Two years ago he threw a bitch fit and said if we don't increase blocksize, the network will die.  Now, Circle is taking their $138 million and leaving along with many, many others.  The congestion has jammed up the network and it is no longer useful.  While we still have our pure values of decentralization, we also have a dysfunctional system that no longer serves many of the original intents. 

We should go to 8MB today.  Keep building LN so we don't have to one day go to 16MB.  That way, all involved in making blockchain projects will stay with Bitcoin instead of running away to other FinTech like Jeremy Allaire. 

We CAN have it both ways!  8MB is the new 'small block'.

So this means, you will leave, too?

Circle was a really bad service to begin with. And the reason for their departure is certainly not blocksize (maybe they like to blame Core team for their own mismanagement).

We need a healthy transaction fee marketplace. Even now, one of the biggest miners mines empty blocks, because transaction fees are not lucrative enough compared to finding the next block faster.

The Bitcoin blockchain was never meant to be a settlement layer for microtransactions. It's far too inefficient to accomplish this task. SegWit and LN are meant to address this.

The most important point is that the Bitcoin network stays decentralized. Any blocksize increase is a risk in that regard. Blocksize increases should only be considered, once all other options have been exhausted and even medium value transactions (> $ 20) are no longer affordable (average fee >10% of transaction value).

[Holliday]

These Circle jerkers will soon realize that they made a huge mistake to turn against the Bitcoin community.

They didn't turn against Bitcoin, Bitcoin turned against them. 

The 1MB anti-spam limit was in place when they started their business.

Oh, and...

...and by "giving up" the OP means he will continue to post FUD well into the future!

Still here I see, bumping FUD, etc...

[audaciousbeing]

But come to think of it, ever since Circle made the announcement, the price of Bitcoin has been on the increase and didnt even feel the effect of someone falling out. From own way of looking at it, I think they are actually pulling out because of the coming regulations which they might not be able to handle and this also will mean more money for thier competitors or Circle is not that popular as they thought they are because the only time I have heard about this is just recently.

[davis196]

Two years ago he threw a bitch fit and said if we don't increase blocksize, the network will die.  Now, Circle is taking their $138 million and leaving along with many, many others.  The congestion has jammed up the network and it is no longer useful.  While we still have our pure values of decentralization, we also have a dysfunctional system that no longer serves many of the original intents. 

We should go to 8MB today.  Keep building LN so we don't have to one day go to 16MB.  That way, all involved in making blockchain projects will stay with Bitcoin instead of running away to other FinTech like Jeremy Allaire. 

We CAN have it both ways!  8MB is the new 'small block'.

I don`t know who Mike Hearn is and don`t know much about blocksizes,LN and all this stuff.

A major player like Circle left bitcoin and the btc price even increased.

Bitcoin is stronger than before,i guess.

[AGD]

https://99bitcoins.com/bitcoinobituaries

“Why This Well-Funded Startup Just Gave Up on Bitcoin” – Fortune | $766.26
0
By Ofir Beigel on December 7, 2016 - Updated on December 8th, 2016 2016

    Now, Circle is bailing on bitcoin altogether. The company announced on Wednesday it is focusing on other things, and that its bitcoin customers can cash out or else transfer their accounts to another company, Coinbase, if they wish to keep buying and selling the cryptocurrency.

    The move is not entirely surprising as the hype around bitcoin subsided long ago, and the digital currency remains a niche product for speculators or for clandestine online transactions.

https://99bitcoins.com/bitcoin-is-a-bubble-it-will-burst-on-monday-12-december-2016/

Bitcoin is a bubble. It will burst on Monday 12 December 2016.

    Published on December 8, 2016

Jiri Kram
Jiri Kram
Cloud Architect & Fintech CTO educated and certified by MIT
On Monday, 12 December 2016, a team of MIT Fintech alumni, together with our friends at Salesforce will launch a global scale security test of a new Blockchain based virtual currency. That will prove the case why world needs new more secure, better designed, transparent and compliant with financial regulations, virtual currency.

Executive summary

    Bitcoin is a fundamentally flawed virtual currency
    Bitcoin is inherently volatile and unstable and cannot be used as a store of wealth
    Bitcoin is a bubble that like Tulip, South Sea, Dot.com or Subprime will burst
    Bitcoin was the first version of a virtual currency, and like any first version, is not perfect
    On Monday, 12 December 2016, we will conduct a stress test on Bitcoin network to reveal deep design flaws of this first generation legacy, virtual currency
    On Monday, 12 December 2016, we are launching ForceCoin.org limited closed, invite only global-pilot, a stealth, highly secret project of a next generation blockchain based virtual currency - our team developed with friends from Salesforce


We, ForceCoin team, believe that world needs a better designed virtual currency.
On Monday 12 December 2016, we will give to them.

[talkbitcoin]

Two years ago he threw a bitch fit and said if we don't increase blocksize, the network will die.  Now, Circle is taking their $138 million and leaving along with many, many others.  The congestion has jammed up the network and it is no longer useful.  While we still have our pure values of decentralization, we also have a dysfunctional system that no longer serves many of the original intents. 

We should go to 8MB today.  Keep building LN so we don't have to one day go to 16MB.  That way, all involved in making blockchain projects will stay with Bitcoin instead of running away to other FinTech like Jeremy Allaire. 

We CAN have it both ways!  8MB is the new 'small block'.

I don`t know who Mike Hearn is and don`t know much about blocksizes,LN and all this stuff.

A major player like Circle left bitcoin and the btc price even increased.

Bitcoin is stronger than before,i guess.

you are a strange guy
you have been on this forum and as a bitcoin user you don't know who Mike Hearn is and haven't head the FUD he spread back when price was $450

and on top of that you call circle a big player?
it was just a service on the internet that didn't even have half as many users as other counterparts.
they had to do free money giveaways to get users to start using their service. it was something like $10 or 20 something back then.

[hv_]

These Circle jerkers will soon realize that they made a huge mistake to turn against the Bitcoin community.

They didn't turn against Bitcoin, Bitcoin turned against them.  

The 1MB anti-spam limit was in place when they started their business.

Oh, and...

...and by "giving up" the OP means he will continue to post FUD well into the future!

Still here I see, bumping FUD, etc...

Oh good, you are a hero member and so I think you are able to define exactly:

What is SPAM ( in terms of transactions ) ??

I only accept mathematically and logically strict definitions.

Otherwise anything and anybody using this word I will categorize as FUD and ignore.


Tx in advance.

[jacafbiz]

I don't think Circle decision to change their business model is based on the block size, to me it is fear of IRS coming after them, also we need to realise that it is not every time that big things are better than small. Let's give SW a chance

[Searing]

Or maybe we could wait and see how things with SegWit goes (even If it doesn't look so good so far) : https://blockchain.info/charts/bip-9-segwit and then decide whether he was right or wrong and I'm sure developers will come up with another plan If it fails.

hmmm..not sure what camp I'm in ..but knowing the BTC holders that I know..and trying to reach consensus....only a 'hard fork' to force everyone on the train may be the only solution.

w/o seg witness no lightning network..but then again if BTC core sees BTC as 'just' a store of value like gold (and price is going up) and want the decentralization from mining ..well

this deadlock could go on another 2 years imho.

sheesh

[Holliday]

Oh good, you are a hero member and so I think you are able to define exactly:

No, that just means I post here a lot.

What is SPAM ( in terms of transactions ) ??

I only accept mathematically and logically strict definitions.

Otherwise anything and anybody using this word I will categorize as FUD and ignore.

I'm sorry, this is a determination which each user must make on their own. You are free to run Bitcoin software with any set of rules you desire!

Tx in advance.

Anytime.