Join our study and help us improve the website by clicking here. But then again, those in the messenger chat were already well aware of how Wu, the co-founder of Bitmain, one of the world’s largest providers yifu bitcoin bitcoin mining hardware, software and related services, felt about bitcoin cash.
5 billion network from a few changes to its code, Wu was a not infrequent participant in the chatroom. Wu had already weighed in by posting everything from news articles to technical tools to advice on when users should sell their bitcoin in exchange for bitcoin cash. Don’t give Core too much money,” he wrote. Indeed for much of the internet, Wu emerged as the arch-nemesis of the developers working on the Bitcoin Core software for his views on the cryptocurrency’s technical roadmap, ones that would not only lead to outsized scrutiny on his business practices, but grow to ensnare all projects and efforts affiliated with Bitmain’s brand. At points, it was hard to tell fact from fiction, or which was more instructive. Take ASICBoost, a theory that aimed to link Wu’s public stance against the group’s preferred scaling path, Segregated Witness, to technologies designed to boost Bitmain products. As the fight progressed, worsening over the course of 2017, public debate turned to vitriol, with Wu often relegated to shouting obscenities at perceived enemies on Twitter, Reddit or wherever else there was dialogue.
Issued in the heat of passion, “Fuck your mother if you want fuck,” emerged as perhaps Wu’s most infamous tweet. It’s telling that a sentence so inarticulate could say so much about the state of debate. Two sides to the story But those reading the above might be left with the obvious question, how could the co-CEO of one of the largest companies in one of the hottest global technology sectors be driven to public profanity? And to not only supporting, but helping popularize a competing software? Wu, who declined to be interviewed for this piece, appears to want to say little on the subject, keeping dialogue short and apologetic in a mainstream press push this summer.
Yet, industry representatives who have worked with Wu suggest a nuanced explanation for his public perception, one deeply interwoven with the history of cryptocurrency itself. In a way, they contend that he seems to epitomize two of the technology’s underlying sociological conflicts. Like other founders and entrepreneurs, Wu, who has an economics degree from Peking University, is also predisposed to a fail-fast mentality, one at odds with developers who favor a security-minded approach. The latter disconnect is one that has played out in high-profile meetings between the groups, whether in New York, Hong Kong or across message boards, but is by no means unique to Wu. Neither is Wu’s involvement in scaling, which traces back to these early efforts by bitcoin businesses to lift its perceived capacity constraints, most notably the 1 MB limit on block space that can be added to the blockchain at intervals.
Originally viewed as a short-term way to prevent spam, its removal would nonetheless require all software users to upgrade and enact the change. Such a path was opposed by developers, who view bitcoin as a kind of opt-in sovereign money and have felt the change could disenfranchise users, and supported by businesses, who saw the limitation as a bottleneck on new users and funding. Wu, however, wasn’t always so adamant about a larger block size. Yet, those who attended the meeting describe Wu as someone willing to stake out a middle ground, at least early on. Wu became more and more radical after what happened to the Hong Kong agreement. The survivor By the time business leaders assembled in New York this year, Wu wasn’t just another seat at the table.