November 2nd, on the founding congress of “Digital Financial Asset Management Research Institute of Tsinghua SEC (School of Economics and Management)” Jihan Wu as the CEO of the donating company Bitmain gave a speech, reflection and enlightenment on the developing blockchain industry:
“The original intention of Bitcoin was to create a currency thats peer to peer and borderless, beyond the control of any institution and authority. There’s two important point of view in the development of Bitcoin. One is to use Bitcoin as a payment method, yet what it has to face is expansion to be used as a payment method. The other point of view sees Bitcoin as value storage, yet price fluctuates. Then the whole pictures is just about speculating. It’s a huge Mistake to think the second.”
Despite the original idea of Satoshi Sakamoto creating Bitcoin, the coin now due to several reasons including Bitcoin’s technical flaws, are not qualified to be a payment method. In your opinion do you think that Bitcoin has already grow out of shape from Sakamoto’s expectation?
Considering that the lighting network can provides a way for the expansion of Bitcoin, do you think this speech given by Johan Wu shows he’s intention to favor BCH a bit too much?
BCH as a production of Bitcoins expansion,Bitcoin Hard Fork. Now steadily developing its feature as a payment method under the support of BITMAIN, would you say that in a certain way BCH is the true Bitcoin in Sakamoto’s imagination?