Jihan Wu’s latest Weibo post looks like an offer to negotiate

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This is an article on 8btc, the site founded by Jihan Wu before Bitmain. He posted a link to it on his Weibo account:


Without translating the entire article, it frames the hard fork conflict purely as a battle for transaction fees, and claims miners will never allow 2nd layer protocols to undermine their revenue stream. It barely mentions block size:


分叉双方的利益冲突和根本矛盾 Explaining the conflicting views of each party to the hard fork


"If 2nd layer protocols become a reality, many bitcoin transactions will go through 2nd layer networks and not via miners. Miners won't receive transaction fees for them. The mining community obviously feel unhappy about this."


This ability to prevent things changing was just a stopgap. This bug inadvertently became the main obstacle preventing developers from creating new tools. Without removing this bug 2nd layer protocols are extremely difficult to implement. And while fixing it would be a step on the path to Segregated Witness, it needs the support of the mining community.


It's only natural to defend one's interests. And supporters of 2nd layer protocols, so as to gain the confidence of users, have exaggerated the performance and features of LN and omitted to mention its weaknesses and limitations. This has further increased fears among miners.


To solve the problem, we need to get serious and talk interests. In dividing up according to interests we can reach compromise. Miners must not venture to consider throttling the way in which new features are developed. Researchers working on new features must consider protecting the interests of miners. This is the only way Bitcoin can achieve its ultimate goals.

It's not clear to what degree he endorses the content, but:

  • It seems like an offer from Jihan Wu to find a compromise;
  • It seems like Jihan Wu sees the hard fork as primarily a battle for transaction fees between Bitmain and Lightning Network;
  • It seems like support of Bitcoin Unlimited is viewed as a way to block the development of 2nd layer protocols.

submitted by /u/damianoloan
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