THE MOST DANGEROUS MAN IN CRYPTO

[Lambolife]

This is a video about someone who is a threat to the entire crypto space. Before you watch the video please know that this is not a character attack but a way to enlighten us of the potential dangers.

Please know that I understand that Jihan is just human. And like any other human he has his own drives as we all do.

Enjoy the video and I hope you learn something from it.

https://youtu.be/yum1xe1E0Io

[KonstantinosM]

One, Two, Three, Four

I declare a flame war.

This is going to be quite a contentious issue. I don't like what Jihan Wu did but it's completely understandable to do what he did and then lie about it regarding ASIC boost.


Ask yourself, would you do it? More money and more power, especially in a results oriented place like China are hard to turn down. I suppose here in the United States once you get to a few million dollars you're set for life and you can relax, I don't know if the same is true in China.



That being said I don't particularly like the tone of the video but I'm more interested in the like/dislike ratio. It seems that the people behind fake bitcoin (Bcash) are disliking this video, one comment declaring it "bitcoin core propaganda".

I'd be interested in something longer form and more well researched than this video. While I know many of the things discussed to be true, I just don't trust the narrator, (who is most likely the OP Lambolife here) especially with a lack of references and sources of evidence clearly labelled and pointed to.

Edit: I subscribed to this I'm subscriber number33, many YouTube channels on Bitcoin come and go (like MadBitcoins) and I'm interested in more content in this space.

[ngm22585]

He's powerful and rich, sure.

He saw a market opportunity and decided to capitalize on it.

You wouldn't do the same?

[Lambolife]

He's powerful and rich, sure.

He saw a market opportunity and decided to capitalize on it.

You wouldn't do the same?

I probably would. And probably you too. See isn't that the problem? We can't count on Jihan to always prioritize the benefit of the whole community over his self interest. We can't lay that burden on a mere human being. We as a community must figure this out. This is no joke. Jihan's mining pools have brought centralization to Bitcoin and very few people are talking about it! That "no central point of failure" Bitcoin is known for? Gone! That central point of failure is Bitmain.

I should sleep its 2am here in the Philippines. I'm willing to discuss this further tomorrow.

[ImHash]

He made people more money by forking a fake bitcoin and calling it the real bitcoin That is for sure but he also lied about the boost and never talked about the possibilities of an attack caused by the ant bleed. They never said that they could turn off the entire network of mining bitcoin with their own ASIC's. They are the rich now and many of us are the poor people here. It's the same as before, Rich is getting richer.

[kryptqnick]

Billoinaire, co-founder of Bitmain, the young man from within the community. People are supposed to be leaving mining for POS anyway. And most of bitcoin is already mined... I don't think that even a company like this can make a serious difference. Push hard fork instead of soft work is probably it. As for the risk of centralization - come on, we all know that mining farms are pretty much monopolists anyway. Personal mining of top coins is not profitable anyway with or without this guy. Okay, he might've cheated with that ASICboost thing, but does it truly create something life-changing? I don't think there is a single dangerous person or even a group of people that can ruin the market.

[Lambolife]

I'm not watching the video right now but there's a few things that keep him from actually being all that dangerous.

People like to say he has the ability to initiate a 51% attack, first off that's wrong but secondly their company is going (or has gone) public. This means they now have a responsibility to make profit for their investors, this means a 51% attack would most likely lead to defrauding their investors and jail time.

Jihan shit the bed with trying to ditch Bitcoin for first their antshares or whatever they called it and now Bcash. This has really hurt them and we know it, they have competitors popping up and they need to focus back on their mining r&d. Jihan and Bitmain are too busy to try and do anything stupid to crypto right now and both have too much to lose.

They can do enough damage to the network it doesn't have to be a 51% attack and with ASICBoost I think a 51% attack is possible. Andreas stated in the video why this is possible.

And It's not just about Jihan though. It's about who controls Bitmain. Right now it's not an incentive for them to exploit the network because they are making a lot of money selling chips and Bitcoin's price hasn't mooned since last year. But what happens when Bitcoin reaches $1m per coin? Or what happens when the one who controls Bitmain is no longer incentivized to keep the network healthy?

And another thing, China where a lot of Bitcoin's mining farms are located, is a freaking communist country. They don't give a damn about Bitmain and if Bitcoin and Bitcoin Cash become a hindrance to their economic benefits do you think they'll think twice before crushing Bitmain? Maybe they'll think twice, I'll give you that. But I'm not comfortable with that notion. Are you?

[Lambolife]

Billoinaire, co-founder of Bitmain, the young man from within the community. People are supposed to be leaving mining for POS anyway. And most of bitcoin is already mined... I don't think that even a company like this can make a serious difference. Push hard fork instead of soft work is probably it. As for the risk of centralization - come on, we all know that mining farms are pretty much monopolists anyway. Personal mining of top coins is not profitable anyway with or without this guy. Okay, he might've cheated with that ASICboost thing, but does it truly create something life-changing? I don't think there is a single dangerous person or even a group of people that can ruin the market.

Please watch the last part of the video where Andreas Antonopoulos explains why ASICBoost is in fact, "creating something life-changing"

[Lambolife]

, we all know that mining farms are pretty much monopolists anyway. Personal mining of top coins is not profitable anyway with or without this guy. Okay, he might've cheated with that ASICboost thing, but does it truly create something life-changing? I don't think there is a single dangerous person or even a group of people that can ruin the market

There is a person and there are groups of people that are a threat to the Bitcoin ecosystem, for now atleast. The network isn't mature enough to withstand and a nationwide attack from China and US government. The US basically has infinite supply of fiat money and they could use that. I do hope that Bitcoin will mature to the point where no single entity or group could ruin it.

[bitalk1]

I am a very impressionable person and it’s scary to open a link to a video, friends tell me what is there?

[mensahkkofie]

People are really using their creativity and their intelligence to create wealth. Opportunities are abundant in the world of crypto especially bitcoin but people are yet to explore them. I believe the video clearly depicts a smart person who is using his intelligence to make some money.

[nicster551]

This is a video about someone who is a threat to the entire crypto space. Before you watch the video please know that this is not a character attack but a way to enlighten us of the potential dangers.

Please know that I understand that Jihan is just human. And like any other human he has his own drives as we all do.

Enjoy the video and I hope you learn something from it.

https://youtu.be/yum1xe1E0Io

For me every hacker are dangerous to the society of cryptocurrencies and also for those people who are greedy and doesn't know how to use crypto properly.

[Lambolife]

Yeah of course it has to be a hacker to do the job technically but not all hackers are a threat. The beauty about decentralized blockchain is that you have to spend computing power (proof of work) to be able to launch an effective attack. So it doesn't matter how good of a hacker you are if you don't have that much computing power you couldn't steal shit except for centralized exchanges coz you know how it goes.

Bitmain has the hashpower (almost) and the technical skills. I'm not saying they are gonna do something bad. I'm saying they can't be overlooked judging from Jihan's behaviour in the past. You all know how that hard fork happened. Or maybe not?

[Lambolife]

I believe the video clearly depicts a smart person who is using his intelligence to make some money.

Yup, and also the repercussions of his methods. Nevertheless, I will not judge him as a bad person. Just another soul getting by. Everything has consequences though.

[PaulRobertT]

All hackers are dangerous to our society, because they lose a lot of money, fall into debt

[franky1]

looks like some social drama
..
funny part is he doesnt write code that changes the network.
if he had power segwit wouldnt have got activated
if he was an attacker the network would be dead.

all this "china", "Wu", "ver", "wright" stuff is social drama.. like a kardashian tv show.
sticking fingers up to a webcam. being a australian scammer. does not affect bitcoin.
plus

these screamers about 51% attack must realise that ASICS have been around for 4 years. and yet all that has happened is social drama finger pointing games
however those that do have power are the devs, the VC's that pay the devs. and the same VC's that have bought the main merchant/exchanges that then sway users to follow dev/merchant/exchanges because without them people cant spend funds through that cabal/cartel

i do like it when people scream "china own 51%". yet if you investigate the numbers you will see many of the "china" farms are not actually in asia nor in control/managed by one person

oh well
lets let the sheep do the standard fox news "bomb them bomb them bomb them" screams of racism, while completely ignoring where the real power lays.

mining pools cant change the rules. as any rules that defy what CODE THE DEVS RELEASE gets rejected. yep a mining pool can have 500zetahash and still get rejected in 2 seconds.
all a pool can do is change the arrangement of transactions in a block

funny thing. antshares and bitcoin cash are separate. they are not viruses that can attack the network. the only thing that is happening is finger pointing and social distractions away from where the real CODE manipulation source can happen.

[Destroyeroff98]

This is a video about someone who is a threat to the entire crypto space. Before you watch the video please know that this is not a character attack but a way to enlighten us of the potential dangers.

Please know that I understand that Jihan is just human. And like any other human he has his own drives as we all do.

Enjoy the video and I hope you learn something from it.

https://youtu.be/yum1xe1E0Io

It seems to me that the most terrible person in cryptocurrency is Satoshi Nakamoto. He has 1 million Bitcoins.

[Lambolife]

All hackers are dangerous to our society, because they lose a lot of money, fall into debt

You watch Mr Robot don't you?

[MainIbem]

I didn't note where he is a danger to bitcoin, other than he secretly test mining programs. If he is only testing, secretly, then it is not a big deal because we don't know how many people out there that are more culprits.

He has the right to argue against a proposition that he thinks is not good enough from his viewpoint. That does not pitch him as a dangerous person. Well, it is good to acknowledge the dangers you have enomerated.

[rosepetals]

This is a video about someone who is a threat to the entire crypto space. Before you watch the video please know that this is not a character attack but a way to enlighten us of the potential dangers.

Please know that I understand that Jihan is just human. And like any other human he has his own drives as we all do.

Enjoy the video and I hope you learn something from it.

https://youtu.be/yum1xe1E0Io

Jihan the co founder of Bitmain have founded a company that mines bitcoin.Any company will have its competetion and to make it stay on top the founder would create something that the company would profit more.What makes it wrong is that if the mining company will do something to make the other competitors to go down,or bankrupt..because of greed.