Long one of the most important developers in Bitcoin, Mike Hearn rewrote much of Satoshi Nakamoto’s code. Hearn also openly theorized about what the technology’s potential and future uses could be.
In a much-publicized decision , Hearn divorced Bitcoin last fall, causing high drama in the Bitcoin community. He had been pondering how the cryptocurrency could lend itself to more users, and grew discontent with the Bitcoin community’s inability to adapt. Hearn Divorces Bitcoin
A Medium post he wrote, highlighting his thoughts and his intentions to separate from the first digital currency and work with R3 CEV, was viewed by the Community as a shot across the bow. In a recent interview with a Swiss publication, Handelszeitung , he revealed why he held no regrets about stepping away from the cryptocurrency, ultimately concluding, “there is no trust in the Bitcoin Community.”
Hearn describes in the interview how people in the developer scene do not truly want the cryptocurrency to be decentralized. They say they want so, but that’s not what they want. Bitcoin is a young, unripened Democracy, in which a group of developers hold the power. And this group is desperately trying to prevent a real vote on the future of Bitcoin. Hearn also laments how much of the Bitcoin mining infrastructure lies in a communist country, “where the people are explicitly told that Democracy is dangerous and leads to chaos.” This fact in-and-of itself undermines the Democracy of Bitcoin, he claims.
“The miners could go against the will of the rest of the Community, which is to push through an increase in the maximum transaction capacity,” he said. “They could prevent this, and this is exactly what’s happening.” I disagree with Mike Hearn’s analysis and concerns (see LTB show next week). I thank him for all his work and […]
