Thought For The Week

It’s Time To Move Forward (Seriously)

This week Mike Hearn very publicly stepped away from Bitcoin. In an open letter to the community, he proclaimed that bitcoin had become a failed project citing the many issues it faces going forward.

Although, there are some in the Bitcoin community that are happy to see Hearn step away, there is no doubt that he has contributed a lot - not only at a code level, for example with the much used BitcoinJ, but also as an advocate for the currency.

Amongst the many things Hearn notes in his piece, the most accurate is the description of Bitcoin's ‘people problems’. There are definitely statements in his post that could be classified as hyperbole, or maybe even as being technically incorrect, but unfortunately this is not one of them.

Bitcoin is at a standstill with no collective decision being made by the Bitcoin Core team on how they plan to deal with the block size issue. Some of you reading this might well have your own view on the block size debate, regardless of what that might be, it’s hard to argue with the fact that bitcoin needs to move beyond this speed bump and take a view on what happens next. Regardless of what that might be.

Bitcoin doesn’t have a Linus Torvalds, so there won’t a benevolent dictator coming to rescue it from it’s infighting. However, there is a community of passionate people that are trying to affect change - whether that be through expressing a view or through offering viable alternatives (e.g. Bitcoin XT, Bitcoin Classic, Bitcoin Unlimited, SegWit). Let’s now just hope that Hearn’s piece fuels some action.

--- Alan Tsen, @alantsen

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