Cryptocurrency giant Bitmain chooses Hong Kong for IPO

[jseverson]

i sometimes wonder about if Bitmain wasn't demonized this much because of the incidents of last year, then would people still talk about Bitmain's revenues, their IPO, ... and whether they would still speculate about their bankruptcy and demise?!!!
it is interesting because Bitmain wasn't  created yesterday! they have been around a long time and only from mid 2017 they became the center of attention!

Probably? I mean, it's not just about Bitcoin Cash. They seem to have shady business practices, being accused of shipping used mining rigs as new. They also basically have monopoly of the ASIC market, and control a very significant chunk of the hash rate. They're very powerful -- too powerful, even, that they have a target on their backs.

OMG altcoins that use GPU
OMG bitcoin GPU mining in 2011-2013    AMD(ATi) have monopolised the market and are controlling 90% of hashrate
(note sarcasm)

P.S yes they sell alot of rigs. but one man cannot juggle 10 balls and control it all

though bitmain are very savvi. they actually lease facilities for private companies to manage. meaning the guys in charge of the pool and software are not jihan wu himself

but anyway. loads of people will continue with the "china control btc" scripts

funny thing
there are several facilities in different locations. this can be seen by just looking at the minted coin block reward receiving addresses. and yes one facility even uses bc1q addresses. which shows there is diversity even if those different facilities and management have been tagged under "antpool"
also antpool facilities are not just in asia..

just saying
people dont check the context and investigate the numbers.

So what is your point exactly? I just stated reasons why people may have a negative view of Bitmain besides the forking issue.

Just because they have near monopoly of the ASIC market doesn't mean that they control anywhere near 90% of the hashrate, and nor was it implied. It just means there are few good options and people may want more.

No one ever said that they control Bitcoin either (and no mention of China anywhere), just that they generate a lot of hashrate -- leasing doesn't change that. People do have reason to be wary about that.

It seems like you exaggerated everything I said just to make an argument.

[LeGaulois]

@franky1
So BitMex is a drone scripted and me too? How can I know if you aren't a drone scripted by Roger Ver coded for Bitcointalk? It looks plausible a lot... Do you think BCash and BitMain IPO is the definition of decentralization

Poor sales in Q2 combined with huge losses engendered by executives trading almost all its Bitcoin reserves for altcoin Bitcoin Cash (BCH), the value of which plummeted around 80 percent shortly afterward.

The figures indicate Bitmain was highly profitable and cash generative in 2017, but may currently be loss-making. Bitmain also spent the majority of its operating cash flow acquiring Bitcoin Cash and may have suffered mark to market losses of US$328 million as a result.

[aleksnutis]

I wonder when Bitmain will announce the creation of new asic miners for Bitcoin to increase the value of their shares. I am sure they already have new models, but the company deliberately delays their announcement.

[FedorIzmailov]

while the bitman lives, you can not worry that the crypto-currency world will fail and it will cease to live. This giant will do everything possible to make the market develop further

[franky1]

So what is your point exactly? I just stated reasons why people may have a negative view of Bitmain besides the forking issue.

It seems like you exaggerated everything I said just to make an argument.

sorry but now bitmain caused a forking issue?.. um.. no
 
oh wait
it was samson mow(BTCC) wearing the UASF hat...


see what i mean about things getting twisted to mak one pool sound like another to hide one thing but set up a narrativ of another

BTCC guys along with core devs set up the fork because segwit would not have activated otherwise

Just because they have near monopoly of the ASIC market doesn't mean that they control anywhere near 90% of the hashrate, and nor was it implied. It just means there are few good options and people may want more.

No one ever said that they control Bitcoin either (and no mention of China anywhere), just that they generate a lot of hashrate -- leasing doesn't change that. People do have reason to be wary about that.

It seems like you exaggerated everything I said just to make an argument.

im not attacking you, calm down, im clarifying the information
1. the 90% figure i mentioned of was of AMD(ATi) GPU mining
2. the "china" and "Jihan wu" is the narrative certain people have that push out wrong info which then gets repeated by others which it seems a few people in this topic are following along with.
you can find loads of people repeating this stuff and calling things like china all over this forum. which sets the narrative to finger point. im just saying the fingr is in the wrong direction

bitmain do not "control" the day to day of all the hashpower you think they control.
EG if you rent a house. does your landlord control what you do while your making watching tv or having a beer. or sleeping with a supermodel. or do you just pay your rent to the landlord and then get to go to the fridge and get a beer whenever you like

all im doing is adding context that most of the finger pointing at bitmain about things like who caused the fork and which pools are losing money should be pointing at BTCC.. but strange no one is mentioning their name

[b3llsf1l3s]

https://www.reuters.com/article/us-bitmain-ipo/cryptocurrency-giant-bitmain-chooses-hong-kong-for-ipo-idUSKCN1M627L

Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...

in my opinion for the market it will not have too much effect, maybe it will only have an effect on rising VGA prices or rental prices for mining. I also don't see investors currently interested in mining, and more interested in investing in ICOs

[Menawi12]

https://www.reuters.com/article/us-bitmain-ipo/cryptocurrency-giant-bitmain-chooses-hong-kong-for-ipo-idUSKCN1M627L

Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...

Hong Kong is good country with good investment climate. Beside that, most people in Hong Kong aware about investment instrument and Hong Kong is one of asian hub for many country.