There's been a lot of controversy over the past few weeks stemming from the anonymous Twitter handle and co-owner of Bitcoin.org, 'Cobra Bitcoin.' The well-known BTC community member has been at the forefront of contentious subjects for many years now, and this week Cobra is claiming that one man has control of more than 51 percent of the BTC network.
The Infamous Snake Twitter Handle 'Cobra Bitcoin' Claims Bitmain Controls 80 Percent of the BTC Hashrate
The notorious Cobra is at it again stirring up controversial conversations on Twitter, and begging the BTC community to change the protocol's proof-of-work (PoW) consensus algorithm. Cobra believes mining pool centralization has taken over the network. Cobra's tweets specifically target the Chinese firm Bitmain Technologies and the company's CEO Jihan Wu. This is not the first time Cobra has initiated the subject of mining centralization as he has brought the topic up many times over the years, alongside BTC core developer Luke Jr, another staunch advocate of a PoW change. On June 18 the co-owner of Bitcoin.org shared a pie chart of the mining pools processing blocks on the BTC network and stated:
Bitcoin simply can't be censorship resistant long term if the hashing power is controlled almost entirely by one entity — You can't build 'digital gold' on something that can be shut down by one man, and needs rapid massive coordinated response amongst *everyone* to counter.