Bitcoin Legend Mike Hearn In Support of Flipstarter
Mike Hearn expressed recently his admiration for the accomplishments of the Flipstarter project while also indicating concerns on the speculative perspective that rules the crypto market, and his belief Flipstarter will make an impact.
John Nieri (General Protocols) quotes Mike Hearn:
It's fantastic, amazing and humbling to see how the Flipstarter community is methodically making decentralized crowdfunding real. When I started down this road with Lighthouse years ago, the Flipstarter community is what I imagined and hoped it would eventually look like.
The cryptocurrency world sadly has many projects that are hype over substance, but I believe that when the history of this time is written it'll be the projects like Flipstarter that left the biggest long term impact. - Mike Hearn, 2022-03 (source)
Flipstarter is a decentralized open-source crowdfunding platform utilizing Bitcoin Cash for payments (donations), with no one in control, and no one able to cancel or seize the funds.
Who Is Mike Hearn
(source: bitcoinwiki)
Mike Hearn is a legendary Bitcoin dev, one of those early enough to have worked together with Satoshi in sustaining and developing the code of the first decentralized P2P Electronic Cash network.
He is also the last person to exchange emails with Satoshi in April 2011, when Satoshi explained he left Bitcoin and had moved on to other things:
I've moved on to other things. It's in good hands with Gavin and everyone.This is the last recorded phrase of Satoshi.
As the corporate arm of Blockstream was taking control of the Bitcoin brand between 2014-2015, Mike fought the good fight side by side with Gavin Andresen and the Bitcoin community that wanted to see Bitcoin scaling and succeeding.
Eventually, in 2016 he felt it was necessary to step down after more than five years being a lead engineer for Bitcoin, disgusted by the shenanigans of Blockstream.
What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people.
Mike Hearn rightfully expressed his concerns on the miners' acceptance of the RBF patch, which was detrimental to reducing Bitcoin's transaction security and dismantled 0-conf, while also in favor of bigger blocks as lead developers Gavin Andresen and Jeff Garzik.
The blocksize debate was more than a small technical issue but important for the macroeconomic implications on the Bitcoin ecosystem:
This block size debate ultimately comes down to competing economic and system survival theories. One theory is that a free market range exists for block size, in absence of a hard limit. Another theory is that a hard limit is required to forcibly constrain the free market. Stalling on core block size changes the former to the latter - (Jeff Garzik and Gavin Andresen - source)
Mike was working for R3 between 2015-2021 on the enterprise blockchain solution Conclave (and Corda) but after the official release of the platform, he announced his departure from R3, remaining only as a technical advisor to the firm while also pursuing a new direction for his career.
Flipstarter
Flipstarter is the Bitcoin Cash adaptation of Lighthouse, a previous work by Mike Hearn envisioning and developing a decentralized P2P alternative to Kickstarter.
Flipstarter is a platform interestingly not often discussed since it utilizes Bitcoin Cash, and as with every positive development in the BCH ecosystem, it is met with denial and isolation by the mainstream crypto media (CoinTelegraph, Coindesk, etc.).
Source: cryptopanic (A news aggregator, another maximalist censorship tool)
The approval expressed by Mike Hearn on the volumes and activity Flipstarter presents, sends the message that Bitcoin Cash is on the right path.
The contribution of Mike Hearn to Bitcoin is undeniable.
P2P Electronic Cash
Bitcoin scaling and the Bitcoin features Satoshi and the early community envisioned, are today realized in Bitcoin Cash.
Bitcoin Cash aligns with targets these legendary engineers were designing.
BCH is a true "P2P Electronic Cash System", a robust payment network capable of achieving global adoption, perhaps with certain modifications and upgrades when needed. It didn't sacrifice decentralization, but instead, enhanced this feature, proving two times (with the BSV and BCHABC forks) there is no one in control.
In the past Bitcoin Cash found support from most early Bitcoin devs, yet many of them decided to step down and kept their distance from its developments.
Bitcoin Cash, though, needs all the support it can get today, as a concept of P2P Electronic Cash to counter the unreasonable market hype, the constant anti-BCH propaganda, and future threats that arise.
Bitcoin Cash offers utility, through a secure, efficient, and reliable currency.
In Conclusion: CBDCs An Existential Threat To Cryptocurrencies
(source)
Even where small details and minor disagreements appear, there is a wider picture many still haven't realized. We face an existential threat today in the crypto field, one that can quickly evaporate and distort all the innovation produced in this field for more than one decade.
There will be fundamental changes to the operational structure of the internet, not in a decade but already starting.
The digital economy will reach the size of the real one as modern technologies are creating value in the virtual universe.
And we don't have much time left for decisions or discussions.
The upcoming CBDC invasion can obliterate cryptocurrency as a concept of digital payments, in just a few years.
CBDCs pose a threat to our financial rights, while the Metaverse seems it is already taken over by the same (few) corporations that control 99% of the traffic on the internet.
Who's the competition to CBDCs? Bitcoin-BTC and Ethereum?
CBDCs should not just be considered a threat to cryptocurrency and the values this financial technology represents, but mostly as a tool of financial oppression at the hands of a few.
Cryptocurrency users (and of course the investors) today not just lack education but also lack a vision. It is up to the users to focus on those cryptocurrencies that have the better chances to counter CBDCs and the menace they represent.
Recommended Reading:
Bitcoin.com: Mike Hearn Satoshi e-mails
Medium: The resolution of the Bitcoin experiment (Recommended)
Read.Cash: 11,500 BCH, Languages, Social Media, Accountability, Easy Editor, Better Safety, ...
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Lead Image by Pixabay (modified)
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