Bitcoin Core Developer says Bitcoin Too Fragile and in its Infancy

[From Above]

to all those constantly say Bitcoin will take over the world and to the moon,
check out video interview with Mike Hearn

https://www.youtube.com/watch?v=iMIzMVABFxQ#t=135

~CfA~

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[Kickstart4]

I am partially satisfied with the Mike[from video]

However some facts were wrong

[From Above]

However some facts were wrong

ROFL thx for ur competent developer opinion

~CfA~

[cyberpinoy]

I think if the Bitcoin Developers do not start creating a demand for bitcoin it will continue to fall down. It seems they are just sitting back dumping it much like other places, waiting for it to either collapse or for someone else to do what they should be doing and creating a demand for it. with no demand for their coin, it will fail. The newest places accepting bitcoin are not helping secure its future, when they are picked up the value does not increase, like DELL, why because its not creating a demand for the coin, new people are not rushing out to buy it, they are just simply giving a way for people who already have bitcoins to unload their coins, and in turn places like dell just dumnp them for fiat, this system only pushes the value of bitcoin down, because for the moment demand is not the value setting point for bitcoin, what is setting its value right now is simply the people buying it and selling it on the market, and right now the sellers are winning

[ensurance982]

However some facts were wrong

Could you elaborate? Are you talking about things Mike Hearn said or what are you pointing at? I guess he has a pretty good idea of what he's talking about still, even if he isn't that deeply involved as others anymore!

[BitcoinBadger]

Only the bitcoin adopters think bitcoin to will rise to the moon and deploy around the earth.In reality people its just another fantasy of people who love bitcoin

[Meuh6879]

all developpers want "the saint graal" of software.
in P2P environment, it's impossible.

when a thing work ... all people use it ... even if it's a alpha or beta product.

standard norms (ISO, CE, ROHS) is for customs services only ... not for internet connected software.
that's why P2P work very good and flawless even if they "stay" in alpha stage product.

[minerpumpkin]

The underlying cryptography or way Bitcoin works is sound. If it wasn't someone would have exploited it by now. At least nowadays no one knows how to break the cryptography in place. The things that are 'fragile' is merely the way Bitcoin is implemented and how it scales when the number of people who use Bitcoin increases still.

[exocytosis]

Core developers like Hearn, Andresen, Garzik and Maxwell are sane voices whose words of realism drown in the noise spewed by the bulltards. Core developers actually seem to understand the inherent limitations of Bitcoin, and the fact that we're a very long way off (5+ years) from mainstream adoption, if it ever starts.

[Beliathon]

Bitcoin Core Developer [Mike Hearn] says Bitcoin Too Fragile and in its Infancy,

Contrast Hearn's statements with Andreas's here.

"Bitcoin is taking on the entire banking system, the most powerful industry in the world. And guess what? Bitcoins gonna win. And it's going to win for a very simple reason. It's not just gonna win because it's better, it's not just gonna win because the banking system is run by gangsters and crooks, and some of the most immoral empty suits in the world. It's not just gonna win because the banking system has spent the last fifty year delivering two consumer innovations - ATMS and credit cards - and then spent the rest of their time trying to figure out how to fleece you.

It's going to win because it's open. And in a world of tinkerers and experimenters, open wins. And the reason it wins is because it allows innovation to flourish at the edges."

-Andreas Antonopoulos

and with Jeff Garzik's TED talk, Bitcoin the Organism

[p2pbucks]

Good point . bitcoin is still in its infancy , but technically it's not fragile .
 The only thing i worry about it's the dirty exchanges  

[QuestionAuthority]

Good point . bitcoin is still in its infancy , but technically it's not fragile .
 The only thing i worry about it's the dirty exchanges  

Dirty exchanges?

[Beliathon]

Good point . bitcoin is still in its infancy , but technically it's not fragile .

Bitcoin is in fact highly anti-fragile.

[tzortz]

Time will show, until it stabilizes.

[H.W.Z]

I think the fragile factor of BTC is the competition between alt currencys which of some have creative features and strong utility. Although it is still number one cryptocurrency, it still face pressure to survive. In order to survive, it needs to evolve to keep its pioneering condition.

[From Above]

Good point . bitcoin is still in its infancy , but technically it's not fragile .

Bitcoin is in fact highly anti-fragile.

LOL nice useless comment dude

~CfA~

[matt608]

Fragile compared to what?  Fiat needs bailing out by the taxpayer every couple of decades.

[ChuckBuck]

Watched the video, not sure where he said anything negative about Bitcoin.

He's merely talking from a developers perspective, and cites the "Malleability issue" when Mt. Gox lost all those coins.

Basically talking code problems when a technology is just 5 years in.

[oceans]

For bitcoin to be able to go any further I do agree that it does need more demand and that is going to take a while. I would not say that it's not possible for bitcoin to go far just that it needs more work and more demand.

[Lauda]

Well of course it is, the version is 0.9.2.x which is still relatively new software.
Imagine just how fragile the altcoins are then?
Bitcoin is okay for now, but the development has to step up. I'm hoping that before v1.0 we see some serious issues being fixed.