Oh, the drama, such drama. Last week longtime Bitcoin developer Mike Hearn declared “the Bitcoin experiment…has failed,” and marked his resignation from that community with a fusillade of verbal grenades (and a New York Times profile of his dissent.) This in turn provoked a whole torrent of hot takes and reactions, which mostly had one thing in common: contempt for all who disagree.
Bram Cohen, the founder of BitTorrent, wrote Hearn’s rant off as “whiny ragequitting.” Greg Slepak posted a detailed, point-by-point technical rebuttal of Hearn’s accusations; a redditor did much the same on /r/Bitcoin, as did Ron Gross on Medium. Vivek Wadha declared “R.I.P., Bitcoin. It’s time to move on,” for the Washington Post, and posted the same article under a slightly less inflammatory title, er, here. Which in turn provoked another angry line-by-line response by Sam Patterson. Are you exhausted yet?
Beneath all that sound and fury, though, I promise you, something interesting is happening.
Bitcoin is, in fact, far further from death than it was all the (many) other times its demise was gleefully,