No I get that, I'm not denying Yifu is smart, just his attributes at management seemed to be questioned here daily with some justification.
People on this board whine about everything.
I don't see why given a level playing field and a pot of cash why, unless they like the guy, but that alone doesn't warrant those figures.
Well, maybe if
you had that much money
you wouldn't invest with him. But you'd probably do your own chip project and hire your own chip designers, right?
These guys are likely not chip designers and don't know anything about chip design, in which case they'll only be able to evaluate based on people actually getting things done. That means either going with Avalon, BFL (lol) or Bitfury.
And anyway since when has the playing feild ever been level? Maybe these guys met Yifu at a conference, or something like that. He's probably the only Bitcoin ASIC designer they know.
And of course the rumor could be complete B.S. as well, obviously.
I mean like the guy, even though i've never met him or invested with him, he has charisma, but some of those who have invested with him vocally disagree with my view. Also the twitter account of Andrew Larson has him open slating KnC as fraudulent in it's third most recent post, which is utter BS. They are real and he could easily confirm that in person of as money is no object to him allegedly. This is most bizarre.
Furthermore how does this decentralise or stop greedy companies?? That's utter BS!! Multiple companies competing against each other giving us miners a fair price removes greed and decentralises. That's the epitome of a fair market.
The free market is not 'fair' at all. Those with the most money will have the lowest per-unit prices on mining chips. It just depends on what the cap-ex is. For GPU mining it's almost nothing, only a few hundred for motherboard/CPU/Case/PSU etc. For low-end ASIC mining it's a few hundred thousand for NRE and for high-end ASIC design it's in the millions. If the price of bitcoin goes up significantly you could see people build their own fabs, just to crap out bitcoin ASICs and get them on the network.
One company that dominates with an exclusive tech no one else has access to is the epitome of centralisation, with a few greedy people overseeing it skimming profit which is to be fair what a) Lehman was famous for before it's collapse, b) what Yifu is currently standing accused of w.r.t. Batch 2 pre mining...!
I don't get what your point is. If both Yifu and his investors are shady, then they'll probably get along well.
So I don't really get why this is surprising to you, why would you be surprised that people you think are of low character would associate with each-other?
Anyway I don't really have a problem with Yifu personally - I ordered a B2 and I got it. It would have been nice if it had been on time but it wasn't that late.
The commissions earned from selling sub-prime bonds is what Lehman profiteered from, the inability to sell the lower rated bonds was the reason it collapsed, and Andrew was a senior Government Advisor for Lehman througout this?!! Wasn't Bitcoin created a year later specifically to enable us to remove outselves from this fraud and the characters connected to it?
No. Bitcoin is a system where you can't break the rules, unless you get 50%+1 of the network. The "character" of the people who use it is basically irrelevant. (So long as they're not actively malicious and trying to destroy the system, and who would spend $200m to do that? Super-hard-core litecoin enthusiasts?)
Either way, the only thing in control of bitcoin is the algorithm, and the algorithm can't judge people's character.
I'm totally serious here, I don't know the guy, perhaps he's super pleasant and has all our best interests at heart, or maybe he's remorseful for what he was part of, considering his love for money during and subsequent I doubt it.
Remorseful? What are you talking about? The only reason anyone is involved in bitcoin mining is because they love money. And anyway, Avalon was the first company to actually ship working miners to people, unlike BFL and the long forgotten bASIC.
Anyway, I kind of doubt anyone would actually invest $200m in bitcoin mining at this point, and 20nm isn't even that much better then 28nm.
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