Topic: THE MOST DANGEROUS MAN IN CRYPTO - page 2. (Read 520 times)
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.
I am a very impressionable person and it’s scary to open a link to a video, friends tell me what is there?
, 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.
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"
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.
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?
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.
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.
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. He's powerful and rich, sure.
He saw a market opportunity and decided to capitalize on it.
You wouldn't do the same?
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.
He's powerful and rich, sure.
He saw a market opportunity and decided to capitalize on it.
You wouldn't do the same?
He saw a market opportunity and decided to capitalize on it.
You wouldn't do the same?
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.
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.
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
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
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