Topic: Bitmain is mining with AsicBoost. Making it look good for the IPO? (Read 496 times)

You didn't answer the question.

There were no pre-IPO investors who invested in Bitmain? Then there will be no class action lawsuit coming for Jihan Wu, or Bitmain? None?


Jihan Wu didn't support the Bitcoin Cash hard fork?

THERE WERE NO INVESTORS!!!!!!!!!!!!!!!!!!!!
thus no one to start a class action law suit
NO ONE LOST OUT!!!
PLEASE READ. PLEASE RESEARCH


as for the bitcoin cash drama.. stop trying to get your info from reddit/twitter. you have no clue

by the way.
many people 'have' bitcoin cash.
but thats because they have such old cold stores that they didnt even bother to move out the forks because they dont care about forked coins.

the value of forked coins can swing all it likes and on paper it would show as different value of holdings.
this does not mean a real profit or loss. it just means. untouched/unimportant assets.

for instance i know people that collect beanie babies and first edition harry potter books. but never EVER intend to sell them. so it doesnt matter if the daily/monthly value of what they hold goes up or down, as its value they will never see as fiat, so they dont care about the fiat value, so the fiat value is not important.

also. people scream how bitcoin lost 80% value ($20k -$4k) but the reality is the $20k was not a fair valuation. nor one that anyone took advantage of for anything long term. so most pople nver actually 'lost' that much because they never actually bought at $20k
bitmain dos not 'buy' coins. so would not have EVR had a $20k initial valuation of a hoard of coins.
same with all the forks.
the true underlying value would have been based on how much it cost to mine the coins.. and guess what. bitmain did not mine a hoard of bitcoin cash. instead it got a hoard for free from the forks. thus the cost/initial value was low/nothing. thus any 'sell value' would be profit

learn LOGIC, do research.

After all that long winded post, you didn't give me a direct answer. Do you believe that there will be NO class action lawsuit coming for Jihan Wu because of misrepresentation of data given to investors?

Plus I'm curious about this, would Bitmain be in a better financial situation if Jihan Wu didn't risk supporting Roger Ver on Bitcoin Cash?

all your waffle ovr the last few months show you know litrally nothing about whats actually going on.
as for your source of bitmain info (samson mow propaganda) he has no clue either

1. bitmain are not managing all the asics of the pools. the best simplified explanation of bitmains infrustructure is of a licencee/franchise enterprise. private businesses/entities manage diffrent farms that are just leased under the brand of antpool and those private businesses get discountd asics in exchange for aiming the hashpower at a pool.
its like many mcdonalds. not actually run by mcdonalds but they get cheap burger patties and make their own profits. all that ronald mcdonald(wu) has to worry about is getting a fee each month.
most of the income is from selling goods to their franchise's, private individuals and also the OTC stuff.. bitmain do not worry/care for public exchange price movements

2.wu has not lost his job(unlike samson 'butt hurt' mow) wu still owns and heads up bitmain. he just delegated the day-to day operations to someone else.

3. again making $500m Q1 + $500m Q2... then spending $500m q3. does not mean the company is at $500m loss. it means they still have $500m in their pocket.

4. the employee recruitment of late 2017 and then the employee shrinkage of mid 2018 is normal practice of only hiring temps. the contracted (long term) employee numbers are still stable/similar to prvious years = no drastic change/drop

5. the IPO didnt even get to the investor stage. thus no investor loss, thus no investor lawsuit. the chinese regulators didnt even accept the application because the industry is a new concept they dont understand and thus didnt want to regulate it.

6. if you done your research and thre are many real statistical sources you can actually find, should you care to look beyond wiki,reddit,twitter social crap. you would se that bitmain is actually cashflow positive and happily investing in other companies

7. anyway the big picture of bitmain vs bitcoin. bitmain cannot 'chang the rules' of the network. mining is just about collating data into blocks and then using asics to hash a block identifier. so all your social drama that bitmain is a big threat is empty of logic.

8. even your social drama of ver and wright. again empty social drama. they are not even influencers, they are altcoiners. = no impact to bitcoin. they ar just the distraction tchniques used to overt peoples gaze away from the real bitcoin impactors(th bitcoin devs)

9 anyway this topic title. should it have been written 5 years ago durinng the GPU mining days would have just ben as boring as:
"AMD(ati) is mining using openCL" and then having some fool from nvidia cry about how he lost his job because nvidia aint as good but proclaiming that ATI is evil

Comparing a stupid moron like me with Lauda would be a disservice to her. Hahaha

You call the truth "social drama", but call your twisted reality "the truth?


Ok, then do you believe that there will be no class action lawsuit against Jihan Wu because of misreprentation of data coming?

Newbies, if he answers no, listen to him.

windfury spend less time with your social drama and spend more time learning about bitcoin
your getting real boring now. and getting too obvious your not on this forum to learn/get things right
your about as boring and unwilling to learn as lauda(anothr core centralist fanboy) was couple years ago, and he was playing the same games u are now. thats how boring you are. nothing new, just same social drama stuff on repeat

meanwhile, to update everyone on the reality

1. anyone can mine with ASICBOOST, infact its best people do. as it gets more hash/sec by doing so = more secure network
2. jihan wu didnt lose his job or get sacked or resign. he now chairman/director of bitmain (promoted himself) and then delegated and put someone else into doing the day-to day job of ceo.
3. bitmain was mining with asic boost for like well over a year before IPO application  in 2018.
4. bitmain didnt lose an IPO due to funding/investor risk not wanting to invest. bitmain didnt even get to the stage of being able to IPO because of chinese regulators not even signing off on the application
5. making 500 in q1 making 500 in q2 and spending 500 in q3 = still having 500 in q3
6. most of the social drama of antpools/bitmain is helmed by samson mow of (ex)BTCC. who is butt hurt that he lost his job with btcc when BTCC didnt survive. so samson is pretending that mining/bitcoin itself is the cause of his recent issues. rather than him losing his job.
7. as for title of this topic.. the IPO thing neds chinese regulators to sign off on the application before investors even get to count a dime/buy a share. so stuff about asicboost has no sway on regulators as regulators involvement in the application stage, is totally different to investors valuation at different stage

they way i see bitmain is the same as i see AMD(ati) in the GPU days

Then what source material should I be getting? Yours?


Weren't you relating Byzantine Generals Theory to getting consensus in Bitcoin's development, or some nonesense like that?

Weren't you spreading misinformation about Lightning by telling everyone that "IOU pegged promises to pay" are issued in LN?


All newbies, don't listen to me. Listen to franky1, and learn the hard way.


I hope the newbies will take a month to read and believe everything you say.

But on-topic, would Jihan Wu be in a better situation if he didn't support, and didn't convert Bitmain's Bitcoin to Bitcoin Cash?

Was he scammed by Roger Ver, or was he in with Roger Ver on the idea to attack Bitcoin?

you still got no clue.
i really worry about the source material that your getting.
everything from understanding bitcoin. byzantine generals theory, consensus, blockchains, what segwits purpose is, what mining is how the mining industry is structured. even stuff like LN.

you spend soo much time repeat the same boring false stuff propagandised around reddit and twitter. and yet after sooo sooo many months i have not yet seen an original and independent thought.

just imagine if you just took a month and used that month to really learn things about bitcoin. instead of getting involved in the social drama

Hi franky1, we can finally put the debate to a close. No, I wasn't "head deep" in the propaganda. Now it's known that Bitmain will not be having an IPO, and that there are furious Asian investors who were possibly scammed to invest last year because of the fake valuation of the company.

Expect a class action lawsuit against Jihan Wu, and Bitmain.

I believe Bitmain would be in a better situation today if Jihan Wu stayed with Bitcoin, and DID NOT take part in being one of the leaders of the Bitcoin Cash hard fork.

But we do not know if this "leak" is true or FUD. Does anyone know btcking555 on Twitter?

https://twitter.com/btcking555/status/1070068239542206465

Late reply, but that and to make their machines look better in the eyes of potential investors of their IPO were two theories circulating.

But there is another theory that is making some sense.

https://twitter.com/bobmcelrath/status/1049798903523143680

Many believe that it was to make their inventory look that it was moving. But the truth is, Bitmain made an over-production, and it has left them no choice but to sell with a discount.


They lied about this in their IPO prospectus.



What they really did was they announced about the new chips, but there was no new miner sold in the market.

There is also this,



Then why did, and does Bitmain support the Bitcoin Cash, and the 2X attacks?

This will be the first of many articles about Bitmain's desperate need for cash because they over-invested in Bitcoin Cash, a coin that is losing value, they removed acceptance for Bitcoin for purchase of their mining equipment, which could also be the cause of their high inventory.

Jihan Wu would have no problems if he continued to support Bitcoin.

https://www.bloomberg.com/amp/view/articles/2018-09-17/bitcoin-s-biggest-name-forgot-a-rule-for-selling-shovels#click=https://t.co/HsicQmNYd

There is a rumor spreading that there are investors "threatening" to sue Bitmain for misrepresenting financial data and omitting or changing parts of that data.

Jihan Wu and Ketuan Zhan might be liable, together with Bitmain, Blocktrail, Hasnest, and Tospring.

I will post further details or be the first to say that this isn't true if I get more information.

I agree with you, I can't really oversee through the desperation of Jihan through that move. But then I it could just be motivated by profit. However, this situation still seems a bit controversial to me.

Ok, I will give it the benefit of the doubt, and wait for Bitmain's Q2 numbers to become available.


Which is anti-Core, which Jihan Wu supported.


Wuote him by giving a link. You might have taken it out of context. If he believes that then he would already have stopped working on Bitcoin.


Blockstream is not Core, although some Core developers are in Blockstream. Core is a loose alliance of coders. They are not a group of conspiracists like what you want everyone to believe.


I do not care what you think of the Core developers. You made your point already clear about that topic. I was asking about Craig Wright. Is he good for Bitcoin Cash?


What's the connection? What innovation has stifled? Is Segwit a "stifle"? The Lightning Network? The coming of Schnorr?


Or maybe everything of that "drama" was a distraction to protect one of Jihan Wu's treasures. Covert AsicBoost. Which was "disarmed" by Segwit as a soft fork.


Your debate is Jihan Wu is pro-Core. Is he now anti-Core or pro-Core? I am confused.

Plus why did the miners activate Segwit? Whose fault is it?


Prove it. It would be easy to say something like that if it serves your purpose.


Continue Lightning discussion in this topic, https://bitcointalksearch.org/topic/m.45521416

i think that might conclude all the social drama distractions.. and close the chapter on the subject.

yet after years i still see people read something on reddit and sheep spam it. without reading beyond the title
maybe, just maybe next time people take a reddit title and then go to google and find real info.

oh and i dont mean find a biased friend who read the same reddit script and because you both read it come to a unchecked unverified consensus that it must be true.. because that is not how consensus works

have a nice day. be sure to use google more than reddit.

any way..
do you know that if pools dont use asic boost. guess what. someone else will..

its like core asking road users not to drive over 40mph because its unfair.. but then someone else will just drive at 50mph

but with that said.. it looks like all the pools are doing it
https://asicboost.dance/
slushpool
f2pool
ckpool
bitclub
poolin
WAYI
Dpool

and "in before others"
ill add this to the fact checking pile
lots of people are saying bitmain are struggling for funds. some say a "leaked document" says
"Revenue from own mining operations has fallen from 18.4% of total revenue in 2016 to just 3.3% in Q1 2018."

 the article was also talking about the leak tried to be biased and say antpool and its other pools are the top pools. suggesting it in a manner of being bad,

but guess what. if they are from 18% revenue to 3% revenue. thats a ~6x drop..
so... wouldnt they no longer be top if they are doing ~6x less mining.
well based on bitcoins price of 2016.. to now (<900 vs >5800) today is 6x more revenue than 2016.
if they stayed at the propaganda "china 50% attack" level.

so i guess if they are 6times less revenue than 2016. then thats a 36x drop...
OMG they are not at the top.. phew no more "51% china attack" because the article is saying they dropped
.. oh wait. they didnt.. so revenue is up

...
another article tried to say the drop was due to that they sold rigs at ~1750 last year and $850 this year thus must not be making money.

funny thing about numbers.. those numbers are retail price.
..
when you buy a burger for $5 do you really think it costs $5 to make it.
what if i told you a decent burger sold at $5 only costs $1 to make. a macdonalds $2 burger only costs 40cents to make

what if i told you that a $1750 asic only cost $425 to make. and for everyone they made for retail. the 1325 from that would go to giving themselves a free asic to run. also an allotment if funds to cover electric of that free asic.. AND stil over $400 per sell to invest in other things..

then ontop of that they still get rewards

aswll as investing in next gen asics (smaller nm) bitmain appears to be investing in other businesses too....
https://www.crunchbase.com/organization/bitmain/investments/investments_list
seems they got money to me

1. cheap last batch S9's $850 instead of $2k. batch ordering was in june 2018. as it was thir clearance sale.
expect news in october/novemberish about thier next gen asics.

2. the NYA and 2X is all the same thing. i told you before check the financial backers.. DCG.co/portfolio/#b

3. my hate and detest for the core developers is when people like Luke JR saying that bitcoin and blockchain is broke and doesnt work by saying it cant scale to world usage. if they dont beleive in bitcoin or immutible blockchains. then they should stop coding it an should stop moderating out or USAFing out those that actually want to scale bitcoins blockchain.
those wanting commercialised hubs(banks) and factories(fortknox) hate bitcoins and are either paid or just recoding bitcoin to restirct it to then push off the offchain solutions.

barry silbert (DCG) or as you call it NYA group. is the big payer of blockstream (core dvs lke luke and sipa and rusty russel who love offchain)
DCG or as you call them NYA are also paying BLOQ (2x) blockchain.info(ver)
DCG or as you call them NYA also paid for USAF (samson mow, luke JR of blockstream)

it was one huge 3 card trick/seashell game where all 3 cards are part of the same family but pretend to fight in public to stir up drama.

..
anyway i do not defend craig or ver.. my opinion about core existed before craig was even a whistle on anyones lips. so when i detest core does not mean i like craig.
i was part of the group that corrected people. i was saying craig was a fraud and that he scammed businesses and australian government out of tax grants due to his faked/fraud/empty tulip trust that has no actual collateral of bitcoin privkeys in it.

as for ver. he is not even a coder. he did not code bitcoin cash.. he is just the front face of attack to distract the sheep so while they attack him the sheep are not noticing bitcoin innovation getting stifled.

please atleast do your research it been month now and it seems your still stuck in the reddit propaganda scripts.

the whole august 2017 was a way to get segwit in at ALL means possible by the november deadline as it meant private investment will release its financial tranches to developers and so that private companies can get what they wanted a step closer to pushing people into a side service away from miners so that commercial factories and hubs on the side service can reap the financial benefits of charging fee's and eventually when users run out.. the hubs/factories keep the coins..
why do you think the 2017 mega spike started at that date and climaxed in december.
th november date was the mile stone of segwitx1 locked and 2x fizzled away as it was never planned to succeed. x2 was just the carrot on the stick to fake to the community ther was an option. just to fake it until x1 got locked.

once locked the private investors got what they wanted and thats the 2017 hype spike explained.

anyway back to the stiffling bitcoins blockchain legacy utility to push LNs off chain commercial service of the future..
EG
remember the gold era. people stopped swapping gold and locked it into vaults/banks/fortknox(LN factories) and traded unconfirmed receipts of proof with each other until one side no longer had value. then the winner... became those that were the vaults

if you read LN's 2018 concept you will see,,  LN factories/watchtowers = third party= banks

atleast wake up to the differences of 2009-2013's bitcoin. compared to what luke JR says about 2018's bitcoin.. and then look at what the NYA (DCG) is pushing

jihan and ver are in the same family as DCG aka NYA aka BScartl.. they are just made to be the scape goats of FAKE free choice.

look even back to the december 2015 'consensus conference' where the original NYA agreement was made. and then

check out the names on DCG.co/portfolio note them
and note how the DCG / NYA portfolio is not onchain 'big block' but lightning investors. yep NYA agenda was not big blocks as your buddies call innovating ONCHAIN.. but they want commercial offchain banking(hubs)
blockstream - lukejr rusty russel -
BTCC - samson mow
bloq - Jgarzic
blockchain - ver
bitgo - LND
coinbase - charlie lee - LND
coindesk

you buddies can tell you anything they please. but actually go beyond your buddies reddit scripts. check out the investors legal duty to disclose their finances. check out the investors portfolio. even check out who was behind the NYA and x2 and USAF

the mandatory split of 2017 was not consensus and the result is code that only 35% of the comunity wanted in wintr of 2016/spring of 2017

but i guess like the dozen or so other topics i asked you to step back do research. you will just ask for a updated rddit propaganda script from a friend and continu kissing ass of the BScartel. and let them tell the world that blockchains are broke and dont work and the only way iss managed accounts offchain.

p.S if you want to continue with head in the sand and kiss asses of those that want to keeo bitcoins ONCHAIN network stiffled to a point of people needing LN. then may you prevent yourself from getting involved in technical/factual stuff.. and eventually when you make profit. exit from blockchain communities. because it seems you want bitcoin and blockchains to be broke

anyway a message for the future.
i hope you learn whats really going on.. or atleast make fiat profit and be happy in your fiat life
until then. dont bother replying with insults or empty statements of 'wrong because wrong' either learn whats really going on. or just concentrate on making your fiat profits.

oh and if your buddies still want to play the USAF was not core
1.look who was involved. lukeJR.. (surprised?.. im not)
also look at this pic https://github.com/UASF/gitian.sigs/tree/master/0.14.2-uasfsegwit0.3-win-unsigned
https://pbs.twimg.com/media/DE9JQs2UMAA93hc.jpg

also samson mow was the front face runner of it. and guess who he workds for now.. yep blockstream

It's a bit of a trick and no it's not a problem with the Bitcoin network

In this thread, you have a better explanation from
achow101 about asicboost, be it covert (which segwit eliminated) and open, the one antpool is using and everybody knows that.