Remember Butterfly labs and co back when asics made their debut to run sha256, customers waited months to get their hands on their miners while these crooks were mining with the hardware and eventually handed it over when it was near impossible to roi.
Its the same with Bitmain, they just covering their tracks more elegantly, anybody that believes otherwise are completely oblivious to these heinous activities.
Topic: Bitmain denies "secret mining" before sales (Read 744 times)
bitmain will never admit to ripping off its customers. Whats new here? 
Yep!, Chinese company's take QC very seriously!
They were not secretly mining with them, they were just testing, doing quality check.. In this case they need to run it for months to fully diagnose lol
Maybe bitmain was telling half the truth. They may not be mining crypto as a company , but who knows if they sell asics in private sales to their friends in China a couple of months before they sell to the general public. They can sell the ASIC's to beta testers and gain profit. A win win situation.
I think it is most probable.
I loled
Bitmain's CEO, Jihan Wu, categorically denies the recent accusations of "hidden mining," on new models of manufactured equipment, before mass sales began. But he notes that interested persons in the market can be.
Wu made this statement during an interview with Fortune, refuting rumors and reports that after the development of integrated circuits (ASICs) for specific applications of the new hash algorithm, Bitmain secretly works with these devices for several months before the sales start for all comers.
"No, it never was, we have a small test, we do not do it, it's not our strategy," Wu said.
Earlier in the spring, suspicions were expressed that the Chinese firm privately used its equipment before the release, which is apparently due to the fact that Monero's anonymous crypto currency held a hard drive to change the Cryptonight development algorithm and prevent the use of new ASIC Cryptonight from Bitmain. Following the fork, a significant portion of the capacity continued to produce the old chain, and consensus among observers was that most of this hash came from ASIC to Bitmain Cryptonight, which had not yet been shipped to customers.
However, Wu said that Bitmain does not have the time, resources or incentives for "shadow mining" crypto currency.
"There is a group of people who have been controlling a lot of Monero hashing for a long time." I would say that developing this kind of ASIC is not the secret workshop that only Bitmain has, many can do. Bitmain, and especially me, I do not even have the time, the attention or the resources to have plans for it.If we develop hardware, we just release and sell it on the market. Right after we work with test machines, we start sale to the market. courage ".
source: https://bizlim.com/crypto/news/bitmain-doesnt-have-a-secret-crypto-mining-operation-jihan-wu.html
I don't believe single words they say. They don't have resources? Oh, that's a big joke. They have resources and more, they aren't in a list of honest (still such thing doesn't exists) companies, their only aim is max profit and max control on everything related to crypto world. I can't believe they are kind guys and do everything honestly. Wu made this statement during an interview with Fortune, refuting rumors and reports that after the development of integrated circuits (ASICs) for specific applications of the new hash algorithm, Bitmain secretly works with these devices for several months before the sales start for all comers.
"No, it never was, we have a small test, we do not do it, it's not our strategy," Wu said.
Earlier in the spring, suspicions were expressed that the Chinese firm privately used its equipment before the release, which is apparently due to the fact that Monero's anonymous crypto currency held a hard drive to change the Cryptonight development algorithm and prevent the use of new ASIC Cryptonight from Bitmain. Following the fork, a significant portion of the capacity continued to produce the old chain, and consensus among observers was that most of this hash came from ASIC to Bitmain Cryptonight, which had not yet been shipped to customers.
However, Wu said that Bitmain does not have the time, resources or incentives for "shadow mining" crypto currency.
"There is a group of people who have been controlling a lot of Monero hashing for a long time." I would say that developing this kind of ASIC is not the secret workshop that only Bitmain has, many can do. Bitmain, and especially me, I do not even have the time, the attention or the resources to have plans for it.If we develop hardware, we just release and sell it on the market. Right after we work with test machines, we start sale to the market. courage ".
source: https://bizlim.com/crypto/news/bitmain-doesnt-have-a-secret-crypto-mining-operation-jihan-wu.html
What do you guys expect?
Bitmain says the truth?
Bitmain says the truth?
seems interesting that bitmain says that they were not using cryptonight miner in secret. So are we to believe that the new miner just so happened to be released right after monero decided to change the POW algo.
come on! baikal, bitmain and innosilicon all had products release soon after monero's plans to modify the POW algo.
move on nothing to see here..
come on! baikal, bitmain and innosilicon all had products release soon after monero's plans to modify the POW algo.
move on nothing to see here..
I think Bitmain is clear...they made separate company to do that, 100% owned by Bitmain...but Bitmain itself is clear
Maybe bitmain was telling half the truth. They may not be mining crypto as a company , but who knows if they sell asics in private sales to their friends in China a couple of months before they sell to the general public. They can sell the ASIC's to beta testers and gain profit. A win win situation.
Funny when you know is something is clearly false but then someone claims its true.
People or companies like bitmain will always be part of our world. Hopefully in the future everything is much more honest and transparent thanks to the power of cryptocurrencies and blockchain technology. I am excited for what good this new technology can bring to the world.
People or companies like bitmain will always be part of our world. Hopefully in the future everything is much more honest and transparent thanks to the power of cryptocurrencies and blockchain technology. I am excited for what good this new technology can bring to the world.
Well how they will explain the Monero difficulty increasement ,
They won't explain it. It's like signing an appearance at the Prosecutor's office. Bittman will deny it, of course. Potential buyers may regard this as a fraud and Bittman will lose buyers. But I think that it will still happen. Bittman will focus on the development of AI and mining will return to the use of GPU.
Well how they will explain the Monero difficulty increasement ,
https://i.imgur.com/lANPemz.png
https://i.imgur.com/lANPemz.png
we saw all the devices ordered from the factory for zero.
The air ducts of the fan baskets were completely filled with dust balls.
I think we could have believed if we had not seen them. I never believed in these explanations.
The air ducts of the fan baskets were completely filled with dust balls.
I think we could have believed if we had not seen them. I never believed in these explanations.
The entire XMR + ETN daily reward: $450k
Bitmain daily profit - $5.5m
why would they bother
Bitmain daily profit - $5.5m
why would they bother
I don't believe that. I am 100% sure that they mine coins on their equipment before they send it to buyers. First of all, it's illogical. Would you wait a few months with the opportunity to earn money during this time? Moreover who could organize the attack 51% of the coins prior to the receipt of such capacity in the sale? The complexity of the network also grows before the first ASICs instances go on sale.
Bitmain as a corporation is no mining, but there are people behind every company, and those groups are mining for sure. What is he tryng to fool? 
If "secret mining" was a lie then it means that Bitmain are stupid to invest Millions of $$$ on developing a product that will be useless after announcing it because of forcing the Coins to FORK?
No one thinks Bitmain are stupid...
No one thinks Bitmain are stupid...
Jump to: