Bitcoin Network Capacity is Reaching a Critical State: Mike Hearn
Very few things in this world that we use every day have unlimited growth potential. The Internet, as we now know it, has limits of which we need to be mindful. Your smartphone's data plan certainly has limitations. The Bitcoin network itself also has limitations, and these limitations may be holding Bitcoin's development back, so core developers are getting involved in upgrading the capacity through different means. Mike Hearn talked to Satoshi Nakamoto about this. Back in 2010, Bitcoin Core Developer Mike Hearn had questions about the limitations of the Bitcoin network and when....
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Reaching consensus can be difficult, and that’s something Mike Hearn wanted to tell the world on January 14th. In a Medium post, he calls “The resolution of the Bitcoin experiment” long-time Bitcoin developer Mike Hearn has left the industry. The statement that is quite long goes into a very detailed testimony to why he’s left and that he sold all his bitcoins. Mike Hearn former Google engineer and the first person to implement Bitcoin in Java, lead developer of the controversial XT fork, and a person whose software he’s “written has been used by millions of users” is all done with the....
Mike Hearn, former Bitcoin Core developer and the main person behind Bitcoin XT along with Gavin Andresen has made it to the headlines of almost all major tech, business and cryptocurrency news publications out there. It all happened after he wrote a blog announcing his departure from the Bitcoin domain. In his blog, Mike has explained the reasons behind his dissatisfaction with Bitcoin. According to him, the Bitcoin network is currently in a a lot of trouble and it may even be beyond repair. He believes that Bitcoin has now become a failed experiment and he has washed his hands of it by....
On January 15, 2016, Mike Hearn officially resigned as a full time Bitcoin core developer. Over the past five years, Hearn dedicated himself in contributing to the Bitcoin network and community, writing software that is now used by millions of users and hundreds of developers worldwide. Hearn designed JAVA implementation and libraries, which are now heavily used by many mobile wallets and services in the industry. Regardless of his significant contributions, Hearn ultimately decided to leave the community because of his strong belief that Bitcoin – as a technology – has failed. The....
Mike Hearn has penned a new post as a follow-up to his much-discussed and debated public farewell to Bitcoin. The world’s media went critical, thermo-nuclear critical, when Mike Hearn – a former core developer in the open-source project that is Bitcoin, deemed it a ‘failed experiment’ and revealed he was done with the cryptocurrency. Hearn’s declaration resulted in massive coverage that was predominantly negative and dismissive of bitcoin, using a former core developer’s words to aid the overall narrative. The widespread attention, negative or otherwise was predictable. So too were....
Mike Hearn decided to clear the air as he made public a chat between Gregory Maxwell and himself. A popular reddit post called “Thank You Mike Hearn” had found its way to the front page with what seems to be a copy & pasted debate between Hearn and Maxwell arguing over Bitcoin scale. “It was well …. understood that the users of Bitcoin would wish to....