“[inaudible] is controlled by Ver and Jihan Wu and that’s a big problem. Because the fact that bitcoin cash folks is controlled, controlled by two individuals that is a huge difference from bitcoin”

This is what Jon Najarian said yesterday on CNBC on bitcoin cash. The first part of Najarian’s statement is about control and control in that sense con only mean one thing. That two people are responsible for mining over 50% of the bitcoin cash blocks. If this were true then these two people would effectively have control over the existence of bitcoin cash.

To check who is mining bitcoin cash blocks I simply googled “bitcoin cash miner distribution” and clicked on one of the top results. This is what it shows:

screenshot date: 12/29/2017

According to real time data, the biggest miner of bitcoin cash are other mining pools. These are all different mining pools each of which controls less than 1%. The second biggest miner is ViaBTC, a mining pool launched by a former Tencent employee, Haiyang. The third biggest miner (15.28%) is bitcoin.com, owned by an early bitcoin investor and serial entrepreneur, Roger Ver. He invested $25k in bitcoin when the price was only $1 per bitcoin. The fourth biggest miner is AntPool, owned by Bitmain whose founder is Jihan Wu, which appears to control 14.58% of the hashrate. Then there are three more mining pools (BTC.com, BTC.top and BitClub) all of which control less than 10% each. BTC.com is also owned by Bitmain, and can be attributed to Jihan Wu.

This graph clearly shows that no 2 entities control bitcoin cash and no entity is anywhere close to controlling 50%. Unless Haiyang can find a way to contact and recruit all the individual & anonymous miners, which is impossible. Roger ver and Jihan Wu control less than 40% of bitcoin cash’s hash rate.

Roger ver and Jihan Wu control less than 40% of bitcoin cash’s hash rate. Jon Najarian lied on CNBC.

In the second part of his statement Jon Najarian says that Bitcoin Legacy is much less centralised. For a comparison, I went ahead and googled latest bitcoin blocks by mining pool and this is what I found:

screenshot date: 12/29/2017

The graph shows that other miners control only 4.86% of bitcoin’s hashrate, versus 34.03% in bitcoin cash. The top controller is BTC.com which controls 26.39% of Bitcoin’s hashrate. Antpool is second with 15.28%. Since BTC.com and Antpool have the same parent company whose owner is Jihan Wu, then Jihan Wu alone controls over 41% of bitcoin legacy. This means that Jon Najarian also lied when he said that bitcoin legacy is much different. By his standards bitcoin legacy is actually worse, much worse.

In the background, Catherine Wood says something about a China problem in bitcoin cash while Jon Najarian lies about who controls bitcoin cash. By looking at the graphs though Chinese miners control less than 50% of bitcoin cash’s hashrate (Antpool + ViaBTC + BTC.com), and more than 51% of bitcoin legacy’s hashrate (Antpool + ViaBTC + BTC.com). So in theory, if these 3 pools alone go rogue then bitcoin legacy would stop existing.