The bitcoin community can’t even agree on whether it’s breaking up.
Last month, Mike Hearn—an ex-Googler and one of the biggest names working on the software underpinning bitcoin—made more than a few headlines when he called the digital currency “a failed experiment.” He not only parted ways with the bitcoin community. He sold all his bitcoin. He said he was fed up because the bitcoin system—software that runs across a vast network independent machines spread across the globe—was “completely controlled by just a handful of people” and “on the brink of technical collapse.”
Hearn had been part of a group trying to change the bitcoin software so it could avoid that “technical collapse,” and this group ran into fierce opposition from that “handful of people” at the heart of the bitcoin community—i.e. other core developers with different options on the future of the digital currency. He called it “open civil war.”
Bitcoin is designed to operate as a democracy. This is how things are supposed to work.
“When parts of the community are viciously turning on the people that have introduced millions of users to the currency, you know things have got really crazy,” he said,