\r\n\r\nIn response to a follow-up question, Jihan maintained his commitment to reduced block time:\r\n
Comment from discussion Bigger blocks do not cause increased mining centralization, miners do not run full nodes, the pools do. This is a type of free market of pools, or a form of representative democracy for miners. I can switch my miners over to another pool within seconds, changing my vote..
\r\n\r\n\r\nJihan Wu didn’t provide statistics to back up his claim.\r\n

Craig Wright and Jihan Wu Say Bad Words to Each Other on Twitter

\r\nCraig Wright and Jihan Wu are two of the most powerful men in the crypto space. The two men, however, spend a significant amount of time and energy arguing on social media.\r\n\r\nThe two went at it on Twitter earlier today after Jihan replied to a  tweet about an article by Coingeek called “Bitcoin BCH – The Value Proposition.”\r\n\r\nCoingeek is the largest mining pool in the Bitcoin Cash community. Led by Bodog founder and Canadian billionaire Calvin Ayre, Coingeek has taken the side of Craig Wright in the BCH November upgrade debate.\r\n\r\nCoingeek re-emphasized that support in a blog post earlier today. That blog post, written by Eli Afram, highlights how proposed changes can make Bitcoin Cash the best cryptocurrency it can be. Although it supports the proposal by Craig Wright and nChain, it also highlights the need for stability and consensus within the Bitcoin Cash community:\r\n
“It’s easy to become excited and consumed by the latest gadget or idea that we often lose sight of the forest for the trees. Bitcoin is the only Proof of Work based cryptocurrency that can scale to global adoption, and it has the community and the drive to do so. The killer-app is money, and CoinGeek seeks to propel BCH to become not only the most dominant crypto-currency in the market but also become world-wide global cash.”
\r\nCoinGeek emphasized that BCH needs stability if it wants to become a global giant:\r\n
“We believe that in order to become global money and see BCH reach global adoption, we need to prove that the platform is indeed stable and that businesses can ‘trust’ that protocol development will not impede their actions. BTC has a history of tampering with the code in a manner that kills business. Consistency is important, stability is important, and the electronic cash use case comes first.”
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“Fake Satoshi Admitted That He Was Never a Part of BCH Founding Community”

\r\nJihan Wu read the article on Coingeek and he didn’t like what he read. Here’s what Jihan Wu wrote in response to the article on Twitter:\r\n\r\nhttps://twitter.com/JihanWu/status/1041688070951657472\r\n\r\n“BSV” is Bitcoin Satoshi Vision, the proposed BCH software client from nChain and Craig Wright that would compete with Jihan Wu’s Bitcoin ABC.\r\n\r\nA few hours later, Wright responded with a tweet of his own while linking to Jihan Wu’s Reddit comment:\r\n\r\nhttps://twitter.com/ProfFaustus/status/1041719365194997762\r\n\r\nEarlier today, Wright linked to the Coingeek blog post, describing it as “a very valuable read.”\r\n

Conclusion

\r\nBitcoin Cash is the fourth largest cryptocurrency in the world by market cap. It has genuine potential to be the world’s best form of electronic cash. BCH has proven on-chain scaling can work while BTC continues to suffer from 1MB blocksizes. Despite all of these advantages, however, the BCH community is becoming toxic, and all of this feels like high school drama. The price of BCH continues to tank, sitting near a low of just $422. Public disputes like the one between Jihan Wu and Craig Wright certainly aren’t helping.\r\n\r\n
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Bitmain Leader Jihan Wu Calls Craig Wright (ProfFaustus) Faketoshi in a Private Group Chat

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BCH Set To Hard Fork Again, Many Supports Unhappy

\r\nBitcoin ABC, a development team behind Bitcoin Cash have announced the details of the next Bitcoin Cash update (hard fork) set to roll out on the 15th of November 2018. The series of hard forks performed aim at transforming BCH into a more agile form of digital cash.\r\n\r\nThe goals of Bitcoin include constant updates to achieve goals of becoming both a faster form of digital cash, and a platform with other features such as smart contracts and oracles. The November 15 hard fork and preliminary updates are likely to not be the last for BCH. But this time, the update hardly caused the market price to recover. The most recent market downturn saw altcoins lose much faster compared to Bitcoin (BTC).\r\n\r\nThe update is now live and ready to be downloaded and implemented, but as stated, the update won’t actually go live until November. So in essence, if this affects you, download now and forget about it, the rest will happen in good time, automatically.\r\n\r\nThe specific features included in the November 15th upgrade, and provided by Bitcoin ABC 0.18.0, are:\r\n\r\nNotably, Bitcoin ABC is moving forward with hard fork incompatible with nChain and Coingeek’s hard fork plan (128 MB limit).\r\n\r\nhttps://twitter.com/CobraBitcoin/status/1031798125680381952\r\n\r\nBitmain’s Jihan Wu, in a private chat called nChain’s Professor Craig S Wright fake Satoshi.\r\n\r\nhttps://twitter.com/cryptovenus/status/1031797999926763520\r\n\r\n
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Crypto Billionaire, Bitcoin Mining Kingpin Jihan Wu Talks With Fortune About Bitmain

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Crypto Billionaire, Bitcoin Mining Kingpin Jihan Wu Talks With Fortune About Bitmain

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Jihan Wu is one of the youngest millionaires all over the world with just 32 years old. He is the co-CEO of Bitmain, which is the largest cryptocurrency mining firm in the world. The company that is only five years old, has brought in $2.5 billion dollars in revenue, just in 2017.

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According to Wu, these results were largely dependent on specialized cryptocurrency-mining, computer chip hardware. At the same time, it has an important cut from the fund that it generates with its dominant position in the cryptocurrency mining market.

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Wu and the co-founder and co-CEO, Micree Zhan, own about 60% of a business that has a private valuation of $12 billion dollars.

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But Bitmain needs to diversify its activity if it wants to keep growing in the future. At the moment, it has decided to enter the field of Artificial Intelligence (AI), which is also booming alongside blockchain technology. Additionally, Wu and his colleagues are trying to negotiate with regulators to reduce the regulations around the world, but specifically in China - where virtual currencies and activities around them are totally restricted.

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Mr. Wu commented:

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“We see in the future that negotiating and working with regulators is quite important. We need to push those heavy regulations back a little bit. But we need to work with them, not just try to get around it.”

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Old Mining Rigs?

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One of the main speculations behind Bitmain is whether they sell older devices to the market before using them to mine virtual currencies. Some users believe that Bitmain develops a new miner, starts working with it, and when they develop a next generation mining hardware, they sell the old ones as if they were new.

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About it, Wu said that they do not do that and if they would do so, they would not be transparent with their customers. He explained that if the products they sell would be already used, they would say that to the buyers.

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At the same time, Wu stated that they have never mined before they release a miner into the market because that would be not transparent and against Bitmain’s strategy. He mentioned that these rumours are related to a group of individuals that were controlling the hash rate of Monero.

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“There’s some kind of group of people that controlled the majority of the hass rate of Monero for a long time,” Wu explained. “I would like to say that to develop such a kind of ASIC is not a kind of secret skill that only Bitmain has.”

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For the future, the company will be investing important resources into the research and R&D of mining rigs so as to make sure to maintain an advantage over other competitors.

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At the end of the interview, he said that he does not speak so much with regulators, just sometimes when they meet in conferences. Circle, for example, has been talking with regulators much more than Bitmain - which is one of the reasons why it wants to acquire Circle.

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John McAfee Supports Jihan Wu, Says Craig Wright Is Not Satoshi Nakamoto

\r\n\r\nJohn McAfee, a known Infosec personality, decided to take a public stance against Craig Wright, and deny Wright's claims that he is Satoshi Nakamoto, Bitcoin's anonymous creator.\r\n

McAfee Vs Wright

\r\nMany are already familiar with Craig Wright — nChain's chief researcher who stood against Bitcoin ABC in the issue of recent Bitcoin Cash upgrade. Wright argued that the road BCH is about to travel is not what Satoshi Nakamoto had in mind a decade ago when he started the crypto trend.\r\n\r\nHe even went as far as to claim that he is Satoshi Nakamoto, which gives his claims additional value. In an attempt to prove these claims, Wright signed a message from a private key which was believed to be owned by Nakamoto himself. However, while he did have access to it, many have taken this as proof that Nakamoto is not its real owner, rather than proof that Wright and Nakamoto are the same person.\r\n\r\nOne person who stood against Wright even before the BCH debacle was John McAfee, who publicly supported Wright's opponent, Jihan Wu.\r\n\r\nhttps://twitter.com/officialmcafee/status/1062940423793098754\r\n\r\nWright responded by calling McAfee a conman, as well as mocking his Bitcoin wallet, that McAfee called unhackable. This was still not the end, as McAfee soon tweeted out again, this time calling Wright a liar for claiming that he is Satoshi Nakamoto.\r\n\r\nhttps://twitter.com/officialmcafee/status/1063496032506531840\r\n\r\nThis statement seems to indicate that McAfee is aware of the real identity of the real Satoshi Nakamoto. However, he never hinted at who that might be, nor did he give away his reason for being so sure that Wright is not Nakamoto. He mostly evaded providing real answers to any such question.\r\n

McAfee Knows Who The Real Satoshi Is?

\r\nMcAfee has stated that he knows the real identity of Nakamoto in the past as well, on several occasions. The most recent one came during a YouTube interview when he openly admitted to knowing Nakamoto's real identity. He also claimed that Nakamoto is not the CIA, nor is he a committee, or Korean bureau 21.\r\n\r\nMcAfee specifically stated on this occasion that Satoshi Nakamoto is a single, very bright individual. However, also according to him, that individual is definitely not Craig Wright.\r\n\r\nWhile McAfee has been one of the most vocal deniers of this, he is also not the only one. In fact, he is just another name on the list of those who publicly doubt Wright's claim. Another big name on this list includes Vitalik Buterin, the co-founder and a face of the second largest coin by market cap, Ethereum.\r\n\r\nButerin explained that he believes that Wright is not Nakamoto due to the way he tried to prove his claims. His methods are noisy, which is unlike the personality that Nakamoto expressed in the past. The list of Wright-opposers appears to be growing, and some spectators have even wondered whether this might provoke the real Nakamoto to once again address the public, after years of silence."},{"@type":"BreadcrumbList","@id":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/#breadcrumblist","itemListElement":[{"@type":"ListItem","position":1,"item":{"@type":"WebPage","@id":"https://bitcoinexchangeguide.com/","url":"https://bitcoinexchangeguide.com/","name":"Cryptocurrency & Bitcoin News: BitcoinExchangeGuide.com"}},{"@type":"ListItem","position":2,"item":{"@type":"WebPage","@id":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","url":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","name":"Jihan Wu"}},{"@type":"ListItem","position":3,"item":{"@type":"WebPage","@id":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","url":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","name":"Jihan Wu"}},{"@type":"ListItem","position":4,"item":{"@type":"WebPage","@id":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","url":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","name":"Jihan Wu"}},{"@type":"ListItem","position":5,"item":{"@type":"WebPage","@id":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","url":"https://bitcoinexchangeguide.com/cryptocurrency-news/industry/community/jihan-wu/","name":"Jihan Wu"}}]}]}
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