PANews February 24th News, F2Pool co-founder Wang Chun posted on X platform in response to recent cryptocurrency market cycle fluctuations, stating that Ethereum once dropped to $1,386 in April 2025, but rebounded to $4,956 just four months later. He emphasized that the market is cyclical and investors should not be swayed by short-term panic. Additionally, Wang Chun pointed out that the proof-of-work (PoW) mechanism is Bitcoin’s “constitution,” and the mining mechanism and miners’ core role in Bitcoin network governance should be respected. Without miner support, SegWit activation would be difficult, and the Lightning Network would also be hard to realize. Miners are an essential force in maintaining Bitcoin network security and stability, having played key roles in multiple controversial events, including the hash power battles surrounding Bitmain, Roger Ver’s fork stance, the Satoshi Nakamoto identity controversy sparked by Craig Wright, and the BIP-110 proposal, which some community members viewed as a farce.
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