[2021-10-01] Bitmain’s Jihan Wu discusses ‘next phase of growth’ post China

NeuroticFish

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Quote from: SFR10 on October 02, 2021, 11:51:12 AM

Am I missing something?

Just as an idea: I am sure that there are plenty of people in China - high members of the party, for example - who are above the law. Some can very well own mining farm and their business may just go on.
Of course, I don't know if he was implying / talking about them or not.

Quote from: SFR10 on October 02, 2021, 11:51:12 AM

The way that sentence was constructed, makes me think there's still a legal way to mine in China!

There may be a way. Not legal and surely not for the commoners.

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Quote from: bbc.reporter on October 01, 2021, 01:10:38 AM

However, on the subject of miners, entrepreneurs, and crypto traders leaving China, Wu noted that there was a group of people who might stay in crypto, even in China. He said,

“…(in a) very short time, the China retail investors will disappear…they will all retreat from crypto and only those high net-worth Chinese families will stay in crypto.”

I don't get it! How can Jihan include "miners" in that sentence while miners are no longer allowed to continue their operations? Am I missing something?
^{- The way that sentence was constructed, makes me think there's still a legal way to mine in China!}

Another thing that caught my attention in that article, was about them ^[Bitmain] moving out ^{[possibly to Indonesia and Malaysia]}!
^{- AFAIK, there wasn't any ban against the manufacturers, as long as they'd refrain from accepting BTCitcoin and other cryptocurrency payments, so this is just a precaution ^{[a costly one]}.}

Quote from: https://twitter.com/SinoCrypto/status/1442574678426484740
Additionally, majority of Bitmain’s production and manufacturing will now shift from Shenzhen/China to Malaysia and Indonesia

bbc.reporter

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Do not be angry. I know many bitcoin maximalists hate Jihan Wu because of his support for the hard fork to big blocks. However, his thoughts on the cryptospace and the future should always be held into consideration. He is one of the pioneers that helped the growth of bitcoin.

However, on the subject of miners, entrepreneurs, and crypto traders leaving China, Wu noted that there was a group of people who might stay in crypto, even in China. He said,

“…(in a) very short time, the China retail investors will disappear…they will all retreat from crypto and only those high net-worth Chinese families will stay in crypto.”

In spite of recent events, Wu seemed optimistic about what the coming year would bring. To prove his points, he spoke about the stable token exchanges on Ethereum spreading liquidity, as well as “trust-building machines” in GameFi and cloud mining.

More than just price performance, Wu also opined that crypto start-ups would begin to have a greater impact on the “real world.”

Read in full https://ambcrypto.com/bitmains-jihan-wu-discusses-next-phase-of-growth-post-chinas-crypto-crackdown/

Topic: [2021-10-01] Bitmain’s Jihan Wu discusses ‘next phase of growth’ post China (Read 52 times)