TL;DR: The Future of Bitcoin Cash team hosted one of the most influential figures in Bitcoin, mining giant Bitmain CEO and co-founder Jihan Wu, during its marathon live stream on April 8, 2020. The BCH community is experiencing its first mining reward halving, and the entire cryptocurrency ecosystem is monitoring everything from the BCH hash rate, speculative price, and network security.
Jihan Wu Discusses Bitcoin Cash Halving
About an hour before Bitmain CEO Jihan Wu jointed The Future of Bitcoin Cash stream, block 630,000 was mined, triggering a halving of its block reward from 12.5 BCH to 6.25 BCH. The implications of the event, programmed to occur roughly every four years, are thought to be understood in theory. However, the real-world sorting out still has to be done.
Former Bitcoin.com CEO Stefan Rust led the interview of the mining giant co-founder. Wu appeared to be in good spirits, describing the BCH halving as “a really important milestone.” Wu also praised the importance of the Bitcoin Cash world community working toward a vision of a new monetary and economic system.
Congratz @AntPoolofficial for block #630000 6:25🐜
— Eléonore Blanc (@blockblanc) April 8, 2020
Wu was keen to point out the number of what he called “good” and “solid” projects built around Bitcoin Cash, from wallets to various other applications. He called it a “full ecosystem.” He said BCH was cultivating more users, adoption, and is poised for what he termed a “new wave” of users to enter the ecosystem.
Rust noted the world changed since he and Wu last spoke, namely the pandemic and worldwide economic downturn. He asked Wu about the potential of investment opportunities going forward. Wu answered philosophically. He said a bullish market draws speculators and gets filled with buzzwords, but the price increase will lead to a general curiosity. Wu said ultimately the project that will win that next wave will depend entirely on utility, and the coin(s) with the best applications will survive what he called the “hype cycle.”
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