Mike Hearn wrote a Medium post which went viral and was the topic of much debate in the Bitcoin world. In his opinion, the Bitcoin community was dead.
He wrote: “[Bitcoin] has failed because the community has failed… Worse still, the network is on the brink of technical collapse.”
Hearn has spent considerable time in the trenches of the Bitcoin technology. He is one of the foremost Bitcoin experts in the world. If anyone had enough perspective to make such a bold proclamation, it was he.
At the time of writing, Bitcoin is priced at approximately $445, according to the Coinbase price. When many first entered the Bitcoin space, the price was $4. Plans to launch a Bitcoin ETF, by the Winklevoss twins and others, persist. IBM’s leading blockchain minds celebrate the Bitcoin technology behind closed doors.
CEO of international-payments app TransferWise, Taavet Hinrikus, recently said: “Bitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over.”Bitcoin transaction use, excluding popular addresses even, demonstrates a steady increase over time.
In the interview with Yahoo Finance, while promoting his company’s Mexico launch Hinrikus sounded very ignorant on the topic of Bitcoin.
“What really happened was a gold rush,” he said. “People bought bitcoin because they thought it would be worth more tomorrow. And a lot of people got lucky. But we’re not seeing real people use bitcoin. And we don’t know what problem it solves. Now, blockchain, I think, is a genius advancement in technology. But I’m not sure we’re seeing yet where to apply it. I’m pretty excited about R3 and Digital Asset Holdings . I think there are many areas where using blockchain is great, but it’s still early days.”
Hinrikus brings nothing new or interesting to the […]
