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BTCC CEO Bobby Lee Wants Bitcoin Community to Scale “Responsibly,” Urges “Patience”

Last Updated March 4, 2021 4:52 PM
Justin OConnell
Last Updated March 4, 2021 4:52 PM

BTCC Mining firm CEO Bobby Lee mostly urges a “wait-and-see” approach before jumping to conclusions about how the Block Size debate might turn out.

“Even though there are people out there who don’t like what Core is doing, I still fundamentally think that they are a very valuable resource in the Bitcoin community, and whatever compromise we propose, that we need to involve the feedback and input from Core team,” says the BTCC CEO. He makes clear in the recent Reddit AMA  that he supports the Core Bitcoin developers.

“Even though there’s a lot of opposition in the industry, I fundamentally believe that the most important thing for Bitcoin, is to ensure that it remains as a reliable digital asset, that the store-of-value proposition has to be strong first,” he says. “Once that’s established, then the payments aspects can be addressed.” He urges the Bitcoin Community to scale Bitcoin responsibly. And, also, to be patient.

“We do need layer 1 scaling for larger block sizes, but let’s do the hard fork responsibly. This cannot be rushed,” he says. “Bitcoin is still growing very fast in China. We constantly see more demand here. I think the challenges of Bitcoin going mainstream in China is the same as for everywhere else: It’s to overcome people’s natural misunderstanding (or lack of understanding) of Bitcoin. Bitcoin is just so different than anything else people are familiar with.” For Mr. Lee, the most important part of Bitcoin is decentralization.

“The idea of no counterparts risk,” he says. “The biggest hurdle to adoption right now, is actually the understanding of Bitcoin and why it’s revolutionary and better than the current system alternatives.”

Mr. Lee also claims in a recent AMA there are no altcoins that have caught his attention quite like Bitcoin.

“My interests and passion lies in Bitcoin,” he clarifies. “Personally, I think getting Bitcoin off the ground is already such a difficult task, to get worldwide acceptance. For these reasons, I don’t spend time on AltCoins.”

Image from Shutterstock.