Board Thread:Wiki Discussions/@comment-25178263-20140908223855/@comment-1512913-20140923232014

Madara didn't lose to Hashirama, he allowed himself to be defeated, because the only reason he fought Hashirama was to steal his powers and fake his own death in order to erase himself from history. Madara would have won the fight, while Hashirama collapsed from exhaustion, Madara used Izangi, that means without the timer, Madara would have beaten Hashirama had he wanted to.