Bitcoin unlimited Supporter Jihan Wu Feels The Economic Majority in Bitcoin is IrrelevantJihan Wu has successfully shocked the bitcoin world once again by making a rather controversial statement. In his opinion, economic majority is irrelevant. That statement is not entirely surprising, considering how Wu supports Bitcoin Unlimited. Ignoring the economic majority is not a valid option by any means, though.
If there is one thing the bitcoin scaling debate has made abundantly clear, it is how Bitcoin Unlimited fails to gain economic support. To be more precise, exchanges, wallets, and other bitcoin service providers do not see Unlimited as the official bitcoin. Instead, they might support BU as an altcoin, effectively reducing its chance of success. Then again, that was to be expected for a proposal that wants to fork bitcoin.
Jihan Wu feels the economic consensus shouldn’t matter in the scaling debate. That is quite an odd statement, considering bitcoin would not be where it is today without service providers and users. Unfortunately for Bitcoin Unlimited, the majority of bitcoin users doesn’t seem to like this project by any means, and it is doubtful they will ever support it. Without the users and anyone else who is not a miner, bitcoin has very little value.
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