Founder of a Chinese Bitcoin Mining Company Vehemently Opposed the Latest Proposed Updates to BTC

Wang Chun, co-founder of the crypto mining pool F2Pool, made statements drawing attention to the discussions surrounding Bitcoin protocol updates.

Sharing an assessment via the X platform, Chun argued that changes to Bitcoin’s core protocol should not be advanced through “political compromises” or mandatory package deals.

Chun stated that it would be wrong to apply the “package bill” approach, frequently seen in US politics where various provisions are added to a single legislative package, to the Bitcoin development process. He argued that this approach leads to the forceful acceptance of necessary but unpopular provisions, and therefore he opposed proposals BIP-110 and BIP-54.

Chun also addressed the technical issue known as “timewarp,” stating that it has existed for a long time but doesn’t provide a significant advantage for Bitcoin miners. He noted that the vulnerability is practically unusable because it’s impossible to predict which miner will produce the next block, suggesting that the mechanism could be used to affect certain altcoin networks. Therefore, he argued that there’s no immediate need for a protocol change.

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Chun also noted that transaction verification efficiency has significantly increased thanks to both improvements in the libsecp256k1 library and hardware enhancements, and that a protocol-level update is not needed in this area. He stated that theoretical risks such as “confirmed transaction forgery” depend on breaking double SHA-256 collisions, and that if this were to happen, Bitcoin’s fundamental security structure would already collapse.

In light of all these considerations, Chun stated that much of the current debate does not provide sufficient justification for a protocol change. According to the founder, only the “repetitive transactions” issue, albeit limited, has the potential for improvement and stands out as one of the few changes worth implementing.

*This is not investment advice.

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