Bitcoin Forum

I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!

Bitmain used to mining bitcoin  successfully and it’s one of the most profitable company. They can defend btc  but hop it will not happen.

Depends how much deep shit they are in over BCH to be honest. Bitcoin is the future & by far better coin but what do they stand to lose if BCH bleeds out?

hope so

I think it will do this time, Bitcoins seems to have a strong support level just around and above 6000 dollars, people seems to sell Altcoins right now, and that will keep the Bitcoin price up.

So you believe that bitmain is accumulating. I believe that they're selling, slowly but surely dumping their mined coins on the market. They have a certain amount saved up just in case it all explodes, but most coins are being sold. They have people's wages to cover, bills to pay. They aren't going to go crazy on trying to stop some idiot from selling his stash because he thinks BTC is dying. If you want to defend a price level start buying.

The strong support of btc lies at 6k usd and also we do not know what are the other geopolitical events whoxh are going to hamper the present momentum. I suggest everybody that as long as btc drops  keep buying g at different prices to keep the averaging on  and also minimise losses. Many across the globe does this and no worry of price fluctuations.

The 6000 level seems to be a bit strong
I hope it will be prove and will be a starting point
the Great support is by buy
And not to sell on these prices

no they won't.
but the total market sentiment is buy if price goes anywhere below $6k or near it and you can see it on the charts today. there is a strong buy support which is buying it up although the whales have been dumping a lot of bitcoin today trying to push it lower and also there is a panic sell going on but it still is holding strong.

here is why a miner like Bitmain won't do shit:
they have a large hashrate and they are not a small pool to need to sell right away to pay their costs and employees. they have enough money to cover it for more than a year possibly. so if price goes down it will be profitable for them because small miners will go away while they will still remain. so now (assuming price has actually falling a lot not just 5%) the total hashrate can go down while they gain a higher percentage and can find more blocks. result is earning more bitcoin. even if they find 1 more block per day that is going to be between 12.5 to 14 BTC profit.

I think it’s not possible for Bitmain to defend BTC. Because BTCs popularity increasing gradually and it is also stable in this market.

but what is going on actualy, why is all going down? makes no sense.

Even with a dip, the people still highly believes in this coin and believes that it is the future of the market. So a huge yes.

Well not sure to be honest. They have converted a lot of their btc into bch and supposedly  now hold over 1 million BCH.

Yet BCH has plenty of other risks associated with it and is unlikely to survive if BTC falls to much.

yet Bitmain also have their IPO coming up and would need a relatively high price for BTC and BCH in order to sell their IPO successfully, so perhaps they will defend the price to some extent.

however take note that bitmain has performed very poorly in Q2 and Q3 this year. They have burned through a lot of their cash while their last few miners are terribly inefficient and have by and large failed, with one of them being less efficient then a GTX 1080 TI, so not sure how much exactly they have left in the tank to defend the price.

I hope they will actually do something. Because if the bitcoin price drop under 5000 usd, there will be no profit for miners, then they stop mining bitcoin lead to the collapsing of the network.

The people are still hoping and believes that BTC will be able to recover from the dip. And that is why the people in the market believes that it will defend BTC

There is no guarantee what will happen. The bitcoin market is too volatile. Any prediction might end up being wrong. But bitmain plays and important role in the bitcoin mining and they surely have a significant amount of stakes on hold. The number of bitcoin reward is decreasing while the difficulty is increasing. With only 4 million bitcoin left to mine, I guess the price will soon go up.

so we went from Bitmain is evil and Jihan Wu is the devil to Bitmain should come save the price for us because we are bag holding. is that it? :D

The price of bitcoin is strongly holding at this level even after many crashes so it makes the people think that it won't fall again so people will consider this as the bottom level and try to invest now.On the other side ETF speculation also has influencing the bitcoin prices so it may changes the price from $6000 level.SO nothing for sure just hope that price will recover.

Exactly that. Now Bitmain has too much at stake to let BTC price dump too low while earlier Jihan Wu just wanted to destroy bitcoin and become the world's evil emperor or some shit like that.

Bitmain is an operator of one of the largest Bitcoin mining pools. It is one of the largest and most successful producer of ASIC as well. I think in this market of pump and dump, Bitmain is going to defend Bitcoin.

And why should they defend it? To save the people that screams "Boycott Bitmain!!!" the whole time on every social media?

Bitmain is privately owned company that’s use to mining crypto. So they dominate over crypto. It’s a most profitable company. But wish they can’t defend BTC.

No one needs to defend bitcoin. It will recover on its own and also bitmain owns just 4-5 % of total hash power. They wont try to do this.

Bitmain is a successful mining Company mining BTC for long. I feel positive for them. But the market doesn't rely on only the mining. There are hypes, peoples influences and other factors that influence the BTC market also.

I strongly agree that bitcoin is a future money and it must be developed again because this is needed by many people.

I think bitman will continue to allow bitcoin prices to fall to around $ 5300 - $5500 to create a panic trad. after that it will enter a phase where bitcoin will be pumped to increase again

Bitmain has already sold a lot of their Bitcoin supplies. They are buying Bitcoin Cash. Bitcoin's reserves near Bitman are no longer as large as they used to be.

At such rates, bitcoin can drop to 3000-4000 $. Ether already $ 250 is just a tin! I hope the climb will be as fast as the fall.

we really don't know coz they announce before that they fully support bitcoin cash and if you look at the leaked Bitmain Balance Sheet you will see that their BTC is decreasing while bch accumulation is increasing. Anyways, there's a lot of speculation about bitmain but let's not forget that every company aims for big profit so anything goes for them. If bitcoin remain top crypto (which I believe will do) then there's no reason for bitmain not support bitcoin at all specially now that they are planning to go public and need a lot of investor.

Not only Bitmain but I think the sharks and whales of the market are also going to back bitcoin up from falling below 6,000$ mark. Just look the current market graph. Bitcoin has been hovering around 6,100$- 6,500$ mark for 3 days straight. Which means the support on 6,000$ is too strong for it to go below.

Did you mean that Bitmain should pump the coins when it reaches at $5800-$6000 levels in order for them to as least break even?

I'm not sure about that, although they have a lot of money to begin with, it doesn't makes sense for them. If there's a coin that they are going to pump, I'm sure that it should be their beloved Bitcoin Cash. They don't have a lot of stakes, even if bitcoin goes below $6K, they can still profit by just selling bitcoin mining gear.

I hope they will really give a solution. Because if the price of bitcoin falls below 5,000 usd, there will be no profit for miners, it will be bad for the network because the role of miners is very important to process every bitcoin transaction.

Bitman has no obligation to protect Bitcoin's prices, they are only obliged to upgrade and enhance the value. Protecting BTC will depend on true investors and I think the whales always do that. They often use Bitcoin to manipulate markets and money laundering.

If mining becomes unprofitable then they will stop using asic machines and mine something else. It is in their best interests to ensure that bitcoin stays above $5000 or their company might collapse

Perhaps they also quietly take part in the dump to earn some money, as it was with the BCC. They are not interested in the general fall of cryptomarket, so they will support bitcoin, but what is the price beneficial to them?

Have you not read the stuff about their IPO? Bitmain threw away most of their BTC propping up Bcash. That failed.

Anyone singlehandedly attempting to prop up anything is a total idiot. All that'll happen is that every other player will simply use it as an opportunity to rape the propper until they're drained completely and then the market will carry on on its natural trajectory.

Trying to keep Bitcoin above a price it wants to go is like trying to hold back an incoming tide. You might be able to lash up some barriers for a bit. Then you're swamped and dead.

bitcoin price will increase in future because it is more popular and demandable in crypto markt. it difficult to hard predicted but if you analysis past year price list you should mention that easily it price upward more than $8000. it future are good.

bitcoin are more profitable. it is made by blockchain technology that's why people are trust it. and they increase their investment. in future it will get price more than $8000. it will be make your proft.

bitcoin are now more popular and potential. it price will increase and it will upward more $8000. if you analysis past year price list you can easily understand that. it is more promising for ensure profit.

Bitmain, Chinese Bitcoin Mining which has gained $ 12 billion worth. Anything can be happened in cryptocurrency market since it is a volatile market place. But bitcoin is the most valuable and popular coin in this market.

will be finite. this is their money and their earnings, while here you can make big money big players will earn here

Right now the special of the market yes of course the next movie is going up till the end of the year 2018 so I don't think so it's true down below 5000 anymore so wait for something incredibly efficient news coming from the side of Bitcoin Crypto let's see what happened

of course, in general, bcc has a good future if we make investments now, obviously the price of bcc now has a price reduction with the miners and btc holders selling all the btc they have and this results in the current market price which continues to decline, if associated with the future of BTC, the BTC has a good and bright future in the future.