Jihan Wu, Chairman of Bitdeer and Co-Founder of Bitmain and Matrixport, is a highly influential figure in the cryptocurrency industry. A graduate of Peking University with a background in economics and psychology, Wu’s impact on the industry is undeniable.
As Co-Founder and Chairman of Bitmain, one of the largest and most successful mining companies in the world, Wu has played a key role in shaping the direction of the Bitcoin network. His company’s cutting-edge technology and strategic investments have helped to secure Bitmain’s position as a major player in the industry.
However, Wu is also known for his controversial actions and statements, particularly his 2017 tweet in which he posted a picture of a pile of dead bodies in front of a building with the hashtag #UASF. The tweet, which was widely criticized as being in poor taste and disrespectful to the victims depicted in the image, sparked a heated debate within the cryptocurrency community. Wu later deleted the tweet and issued an apology, stating that the post was meant to be a criticism of the UASF proposal and not a commentary on the victims in the photo.
The User Activated Soft Fork (UASF) proposal, was first introduced in 2017 as a way to implement Segregated Witness (SegWit), a proposed upgrade to the bitcoin protocol that would increase the block size limit and improve the overall scalability of the network. UASF is a method of updating the Bitcoin network that allows users to signal their support for a proposed change and activate it without the support of miners, which is different from a traditional soft fork, which is activated when a majority of the mining power signals support for the change.
According to Dr. Craig Wright, chief scientist at nChain, a blockchain research and development firm, “The UASF proposal was a dangerous and unnecessary approach to upgrading the network, it could have caused a chain split and irreparable damage to the Bitcoin ecosystem.”
Wu’s influence as the Co-Founder and Chairman of Bitmain, one of the largest mining companies in the world, his opinion carries a lot of weight in the industry, and his tweet was seen as a strong opposition to the proposal, and it sparked a heated debate within the cryptocurrency community.
However, his behavior, using a disrespectful image to express his opinion, is not acceptable and goes against the principles of empathy and respect in communication, especially when discussing sensitive subjects or expressing opinions on controversial issues. Wu’s involvement in the UASF controversy highlights his position as a powerful player in the Bitcoin community, but his actions have shown him to be a bad actor within the community and not a responsible member of it.
Since then, there have been no recent developments on the UASF roadmap, the idea was proposed in 2017 and it was not implemented, there is no current information on any plans to revive the proposal. As of my knowledge cutoff, the bitcoin community is focused on other proposed upgrades such as the Taproot upgrade and Schnorr signatures which have been under development and testing.
In conclusion, Jihan Wu is a well-known and influential figure in the cryptocurrency world with a strong background in economics and psychology. He has played an important role in the development and direction of the industry, but his actions have shown him to be a bad actor within the community, whose actions do not align with the principles of respect and empathy.
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