Mike Hearn says goodbyeMike Hearn, the Bitcoin Core developer who earlier launched competing Bitcoin XT software, leaves the community in dramatic fashion, declaring: “Bitcoin has failed.” Btw, he’s the guy that Satoshi Nakamoto apparently sent his “resignation” email to back in October 2013.
Hearn predicted a massive price crash for Bitcoin – which, coming from such a respected developer, had its own impact. Bitcoin lost over $60 from its value, falling from $429.55 on 14 January to $360 the next day. In a lengthy post on Medium, Hearn complained that “the fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.” He warned that “the network is on the brink of technical collapse” and claimed to have sold all his coins.
Bitcoin, of course, is still going strong many years later.
Bitcoin Core developer Mike Hearn leaves the community in dramatic fashion, declaring: “Bitcoin has failed.” Photo: Dima Pechurin / Unsplash