He described his position in a lengthyblog post on Medium and, on the same day, The New York Times published an article telling the story of how he came to this breaking point. Both generated a lot of discussion in Bitcoin forums, and overnight, the price of the currency fell.
Some in the community dismissed the events as “drama” and expressed confidence that Bitcoin’s core developers would break through the impasse that led to his disillusionment. In fact, earlier in the week, PayPal announced that it had named Wences Casares, the chief executive of Xapo, a prominent Bitcoin company, to its board, in a sign that the digital currency could be gaining more mainstream acceptance.
“It’s unfortunate that Mike felt the need to take a dramatic exit in that way. I think it’s quite overblown,” said Ben Davenport, cofounder and chief technology officer of Bitcoin security company BitGo.
“I have no reason to believe that this is not just another bump in the road for Bitcoin,” said Barry Silbert, founder and CEO of Digital Currency Group, a prominent investor and business incubator in the
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