Jihan Wu and Craig Wright have been having a verbal brawl of sorts for now weeks over a dispute concerning some technical proposals for the Bitcoin Cash November upgrade.
Jihan Wu, co-founder of the biggest crypto miner and manufacturer, Bitmain, publicly said this Tuesday:
“So, Fake Satoshi admitted that he was never a part of BCH founding community. F**k off to BSV is the best thing for Craig cults and BCH community.”
Craig Wright claimed last year that he is bitcoin’s inventor, Satoshi Nakamoto, publicly offering as proof a fake signature which earned him the nickname of faketoshi. He has further apparently claimed he owns all of the coins which belong to the now bankrupt MT Gox crypto exchange.
MT Gox had one million bitcoins deposited by thousands of cryptonians up to 2014, with 800,000 of it seemingly lost/hacked.
It is claimed Nakamoto mined one million bitcoins. As such, Wright apparently tried to pass off Gox’s coins as Nakamoto’s to spruce up his seemingly fake claim he is Satoshi.
In that Satoshi persona Wright argued for big blocks, with some in the BCH community arguing that although he might be faketoshi, his money might do much good for BCH.
His money however seemingly came with some strings attached as Peter Rizun of Bitcoin Unlimited revealed. Now Wright is seemingly involving himself in highly technical protocol discussions even though it seems he doesn’t know how to code.
The matter in dispute is over a method to increase the compression of data so that bigger blocks can propagate (be communicated) more quickly through the network.
The BitcoinABC developers have come up with a canonical ordering method which Wright’s nChain itself welcomed some months back with no coder raising any issues during devs meetings when it was proposed.
Wright however started arguing against it because of what can be called a marketing mistake by ABC devs saying in the initial announcement that canonical ordering makes zero confirmed transactions safer.
Wright then argued 0-conf transactions are perfectly safe, nothing needs to be changed, and so on, in line with his Satoshi persona based on an old statement by the real Satoshi which said 0-conf transactions can be safe.
Wright however has apparently forgotten the additional comments of Nakamoto which say although o-conf transactions can be safe, they are very much a second class citizen. That’s because double spending such transactions isn’t too hard, but practical considerations make it non-viable in many situations.
In any event, instead of leaving it to just a statement, Wright then threatened to fork off, arguing that hashpower decides such highly technical matters as how to compress data.
To bolster that claim he recently showed Craig Wright affiliated pools currently have about 50% of the BCH hash-rate. That hashrate can however change quite quickly as Wu and other miners in China can temporarily move it from BTC to BCH.
ViaBTC, for example, spent an estimated $10 million to mine the first BCH blocks, something for which they were not initially rewarded. They of course have told Wright to fork off.
Hashpower in any event wouldn’t have any say as Wright’s client, BitcoinSV, would have different rules to BCH’s BitcoinABC. So there would be a chain-split like there was with BTC and BCH on August 1st 2017. Jihan Wu says:
“BCH will continue its roadmap to build electronical cash on base protocol and encouraging permissionless innovation in layer-2. I see lots of buidlers are working so hard! Fake Satoshi can never stop us.”
So the lines have seemingly been drawn, with bitcoin cash now soon to potentially see a chain-split just a year after it split itself from BTC.
Wright says he won’t allow such split, suggesting he’ll fork off the blocks from ABC. That however would be a 51% attack, and there he may find he is the one that gets forked off. Yet how all this will play now, remains to be seen.