Cobra Bitcoin, the owner of the famous site Bitcoin.org, claims that there is a company or a man that controls more than 51 percent of the BTC network. This is not the first time that there is controversy around Cobra Bitcoin, in many different occasions he attacked the Bitcoin Cash community and proposed some controversial modifications to Bitcoin.
Cobra Bitcoin Claims Bitmain Controls 80% Of BTC’s Hashrate
The Twitter user known as CobraBitcoin is generating controversy on social networks regarding the Proof of Work (PoW) consensus algorithm used for Bitcoin. He is begging the community to change this protocol in order to end with the centralization of the network.
He mainly attacked Bitmain Technologies and its CEO JIhan Wu. Bitmain is one of the most important cryptocurrency mining companies in the world. But this is not the first time that Cobra initiated the subject of mining centralization. He mentioned several times this topic alongside Luke Jr, another developer that wants to change the PoW consensus.
About the centralization of the network, Bitcoin.org owner commented:
“Bitcoin simply can’t be censorship resistant long term if the hashing power is controlled almost entirely by one entity – You can’t build ‘digital gold’ on something that can be shut down by one man, and needs rapid massive coordinated response amongst ‘everyone’ to counter.”
Moreover, he explained that 80% of BTC hashrate is part of Bitmain and that it controls the majority of the hashing power behind Antpool, BTC.com and Viabtc, among others. But the answer from BTC.com’s business operations VP, Alejandro De LaTorre, who answered with an attack to Bitcoin.org.
“Can you explain me to why the BTC.com wallet is no longer welcome on Bitcoin.org? While we followed all the community guidelines and more?” said DeLaTorre.
Cobra said that the community it is waiting for a change and a competitor to Bitmain, but it never appears in the market. This is why he claims that the solution is to change the PoW to end with Bitmain’s monopoly. In the past, the mining pool Ghash.io surpassed a 51% mark several times on 2014. The company kept always honest about these situations and it ended up splitting into multiple factions. An attack like that never again happened like in Bitcoin Gold.
Cobra shows once again that he is not able to stand on his words due to the fact that he several times had completely atangonic statements on the Bitcoin topic. Which discussion will follow in the future remains to be seen.