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:

http://m.weibo.cn/status/4087387070126247

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:

http://8btc.com/forum.php?mod=viewthread&tid=49137&extra=page{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8}3D1

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

如果第二层协议实现,许多比特币交易就可以通过第二层网络,而不经过矿工。矿工也就收不到这部分的交易费了。矿工群体当然对这种变化感到不快活。

"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."

这个阻止变化发生的东西,就是延展性漏洞。这个BUG无意间成了开发者研发新功能的最大绊脚石。不移除这个BUG,开发者的第二层协议就难以着手。而修复这个BUG,也就是实施隔离见证之类方案,却必须获得矿工群体的支持。

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.

维护自己的利益是人之常情。而且许多第二层协议,LN之类的拥护者,为了争取用户的支持,夸大吹嘘LN的性能和优点,对于缺点和局限性却很少提及。这也进一步加剧了矿工的恐惧。

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.

要解决问题,就要脚踏实地的谈利益。在利益瓜分中求得妥协。矿工不要想着掐死开发者研制新功能的路子,研发者也要在新功能的方式方法,推进进度上维护矿工的利益。只有如此比特币才能够实现土大木的终极目标。

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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