bitcoin Posted January 15, 2016 Posted January 15, 2016 Mike Hearn has had enough with the bitcoin community and the issues that have arisen over the past little while. Any thoughts? https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.jov5ys6a6 New resource: https://www.reddit.com/r/Bitcoin/comments/413pwp/mike_hearns_latest_blog_post_was_a_strategic_move/
ribuck Posted January 15, 2016 Posted January 15, 2016 Mike has a brilliant mind and is a smart guy. But deep down he still has a little bit of central planner inside him, and I think he is burned out and disillusioned that he cannot convince everyone else that his ideas are correct. I happen to share Mike's preference for a prompt block size increase. Bitcoin transaction volumes will continue to grow. If the block size is increased, then everyone will be able to make cheap on-chain transactions, but not everyone will have the resources to run a full validating node. If the block size doesn't increase, then it will be expensive to make on-chain transactions, but the "little guy" will continue to be able to run a full node, and there will need to be linked side-chains for small payments. Ultimately, it doesn't matter much. Bitcoin will survive just fine one way or the other. If it requires a hard fork (or the credible risk of a hard fork) to resolve this, so be it. Bitcoin will come out stronger than ever after it has shown that it can transcend internal politics.
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