Did Bitmain just declare war on BTC?

[Philopolymath]

It seems Bitmain has just changed it's payment options to accepting ONLY BCC.

This must be seen as an attack if not an all out declaration of war against BTC.
I think it is a HUGE strategic blunder by Bitmain. But hey...who knows?

REMEMBER  CHINESE MINERS/people are NOT the ENEMY...The BANKS & GOVERNMENTS ARE..And THEY OWN ALL GOVERNMENTS.


As an ex-CEO of a Chinese Manufacturing Corp...
Experience leads me to KNOW..Jihan Wu is a puppet of much larger forces behind the scenes..
He does not have the level of control or influence the public think he does.
His greed for power and monopoly is obvious but he is a child remember.

One thing is for sure I will never mine or support or buy that shit Alt coin BCC...(And pray I will never need to eat those words)

[Thetaj]

agreed 100% Bitmain does not represent all Chinese miners. Other asians also don't like them.

And them doing this.......this is very bad.

[wavelengthsf]

I was thinking it was just this batch that was BCC only. They still quote prices in BTC and LTC for other things.

Totally unfounded theory, but my guess is they're selling off the machines they used to support the BCC launch, which is why these are shipping earlier than the last batch of S9s which accepted BTC/Wire as payment.

[BuzzCash]

why arent there companies other than bit-main.

[cioloxl]

agreed 100% Bitmain does not represent all Chinese miners. Other asians also don't like them.

And them doing this.......this is very bad.

Bad how? I don't get it. They're not forcing you to use bch or to buy their miners. Go buy from innosilicon or giga watt. You'll learn to appreciate bitmain.

why arent there companies other than bit-main.

There are. None of them are as good and as trustworthy as bitmain. I'm not shilling for them or anything, I just know how other companies treat you. Their support is kinda shit, but they ship in time, and their products are always as good if not better than advertised.

[stugots2]

Settle down Beavis

[marky89]

It seems Bitmain has just changed it's payment options to accepting ONLY BCC.

This must be seen as an attack if not an all out declaration of war against BTC.
I think it is a HUGE strategic blunder by Bitmain. But hey...who knows?

It's possible that they are just hedging their blunder of supporting BCH. There is likely little buying demand and they are propping up the markets themselves. This way, they can force some of that burden onto their customers.

why arent there companies other than bit-main.

China is pretty good at replicating/producing goods and exporting them at lower costs. I don't think this is particular to ASIC chip manufacturing. There is some upside here. Bitfury is doing significant research and development into next generation chips, and from the relationships they are building, I think they plan to become more relevant in this space.

There are also two major Japanese conglomerates -- GMO and DMM -- that are planning to enter the ASIC manufacturing sector in the next year. So hopefully Bitmain's dominance isn't a permanent situation.

[Dutchyyy]

After I saw a picture of Bitmain farm, using ordered batched to mine for their own profit and delaying the delivery of batched on purpose, I decided never to use them again. You know, this is like they are just f*king with their own customers. And the the BCH s*it.

[onegiantcock]

I noticed bitmain had an exchange rate advantage for BCH of +$50 over market -  when they did accept BTC it was @ -$100 below market.  ouch.

[pinkflower]

Why would Bitmain declare war on BTC? That would be illogical because their biggest market for their hardware would still be BTC. Jihan Wu is also a businessman, so whatever that move is, its probably a business decision and not a declaration of war.

Another thought, maybe he loves BCC very much.

[alyssa85]

It seems Bitmain has just changed it's payment options to accepting ONLY BCC.

This must be seen as an attack if not an all out declaration of war against BTC.
I think it is a HUGE strategic blunder by Bitmain. But hey...who knows?

Bitmain is a private company - they're free to sell their hardware for whatever they like, fiat, btc BCH, LTC, whatever.

They don't owe "allegience" to anyone or any coin. If people don't like their payment options, just don't buy from them.

[mk4]

agreed 100% Bitmain does not represent all Chinese miners. Other asians also don't like them.

And them doing this.......this is very bad.

Bad how? I don't get it. They're not forcing you to use bch or to buy their miners. Go buy from innosilicon or giga watt. You'll learn to appreciate bitmain.

Less hashpower on the main bitcoin chain. That's also a significant negative effect, but not necessarily "very bad" like Thetaj said. Bitmain supports BCH, so I'm not surprised they made this move. Also, this is to be expected because of bitcoin's decentralized nature; we should always expect lots of disagreements between two or multiple parties, forming possibly more sides or "factions" in the future.

why arent there companies other than bit-main.

There are. Other Chinese companies are only significantly smaller compared to bitmain, so they don't get that much attention on international crypto news.

[HeRetiK]

Why would Bitmain declare war on BTC? That would be illogical because their biggest market for their hardware would still be BTC. Jihan Wu is also a businessman, so whatever that move is, its probably a business decision and not a declaration of war.

I guess it's mostly a business decision in that it is in the interest of Bitmain that BCH regains some traction. So not necessarily a declaration of war against BTC, but definitely a statement of support for BCH, possibly due to having a major stake in BCH...

Another thought, maybe he loves BCC very much.

...or because of that. Yeah, I'll go with that explanation. I guess he likes big blocks and he can not lie?

[carlfebz2]

Why would Bitmain declare war on BTC? That would be illogical because their biggest market for their hardware would still be BTC. Jihan Wu is also a businessman, so whatever that move is, its probably a business decision and not a declaration of war.

I guess it's mostly a business decision in that it is in the interest of Bitmain that BCH regains some traction. So not necessarily a declaration of war against BTC, but definitely a statement of support for BCH, possibly due to having a major stake in BCH...

Another thought, maybe he loves BCC very much.

...or because of that. Yeah, I'll go with that explanation. I guess he likes big blocks and he can not lie?

Using the word "War" isn't appropriate on this one.Why cant just use the word they do switch their interests into BCH.Just simply as that and Bitmain would switch on where they can make more money.

[BitHodler]

Bitmain is a private company - they're free to sell their hardware for whatever they like, fiat, btc BCH, LTC, whatever.

They don't owe "allegience" to anyone or any coin. If people don't like their payment options, just don't buy from them.

You're right, unfortunately. Main point of them doing this is to stimulate people to buy BCC, and then to buy whatever hardware from Bitmain ~ everything they do has a deeper level of dark motive for them to achieve something.

It's basically them abusing their major position in this market, but due to the lacking competition, people don't have much options to go for as alternative, and Bitmain is well aware of that.

The only thing that people can do who don't agree with this, is to not buy anything from Bitmain, ever again. If enough people do this, then the pressure will be on Bitmain's side to bring back Bitcoin as payment option.

[error08]

Bitmain is a private company - they're free to sell their hardware for whatever they like, fiat, btc BCH, LTC, whatever.

They don't owe "allegience" to anyone or any coin. If people don't like their payment options, just don't buy from them.

You're right, unfortunately. Main point of them doing this is to stimulate people to buy BCC, and then to buy whatever hardware from Bitmain ~ everything they do has a deeper level of dark motive for them to achieve something.

It's basically them abusing their major position in this market, but due to the lacking competition, people don't have much options to go for as alternative, and Bitmain is well aware of that.

The only thing that people can do who don't agree with this, is to not buy anything from Bitmain, ever again. If enough people do this, then the pressure will be on Bitmain's side to bring back Bitcoin as payment option.

For the next batch which shipping will starts in late November at a cost of $1,265 each, Bitmain only accept Bcash.
If people speculate to increase the price of Bcash, so it would be good for Bcash holders, but I don't think it would be significantly due to this way of essentially “forcing miners” to buy Bitcoin Cash to pay for the hardware, but most miners should have BCash in their wallet as well, so it's not politically to pump Bcash price. Why they only accept BCash? Maybe because BCash potentially easier to trade for fiat after China’s recent crackdown on exchanges or it's not easy to met one hour limit payment  with bitcoin when the network is congested.

[sunsilk]

why arent there companies other than bit-main.

They have been in the business for so long and their services has been proved and trusted.

The thing here is we don't know if they are declaring war against bitcoin by just accepting BCH as their main payment method.

Bitmain is a private company - they're free to sell their hardware for whatever they like, fiat, btc BCH, LTC, whatever.

They don't owe "allegience" to anyone or any coin. If people don't like their payment options, just don't buy from them.

I agree on this, if you find them good for you, buy on them with your BCH but not just simply ignore them and look for some other manufacturers where you can buy your own rig.

[giveen]

How is that a war on btc this might be because of the issues going on in china. He is after all a businessman and currently has his business is a country which might ban the btc network and has already banned exchanges and might relaunch it with regulation.
Secondly he might be a puppet just to satisfy the elites or as some said he might actually be in love with bch.

[marky89]

For the next batch which shipping will starts in late November at a cost of $1,265 each, Bitmain only accept Bcash.
If people speculate to increase the price of Bcash, so it would be good for Bcash holders, but I don't think it would be significantly due to this way of essentially “forcing miners” to buy Bitcoin Cash to pay for the hardware, but most miners should have BCash in their wallet as well, so it's not politically to pump Bcash price. Why they only accept BCash? Maybe because BCash potentially easier to trade for fiat after China’s recent crackdown on exchanges or it's not easy to met one hour limit payment  with bitcoin when the network is congested.

Anyone who wants to start mining, or any miner who wants to ramp up their operations, needs to buy Bitcoin Cash in this case. For now, they probably have enough of a stranglehold on ASIC manufacturing that they can get away with it, too. No manufacturers are really competing with Bitmain at this point; shopping elsewhere is just for those who put ideology before profit. Not many of those people left in the mining business.

I don't think it has anything to do with Chinese regulations. They are starting to feel the pain of propping up the BCH market. They want to use their market share to force their customers to prop it up for them.

[HeRetiK]

For the next batch which shipping will starts in late November at a cost of $1,265 each, Bitmain only accept Bcash.
If people speculate to increase the price of Bcash, so it would be good for Bcash holders, but I don't think it would be significantly due to this way of essentially “forcing miners” to buy Bitcoin Cash to pay for the hardware, but most miners should have BCash in their wallet as well, so it's not politically to pump Bcash price. Why they only accept BCash? Maybe because BCash potentially easier to trade for fiat after China’s recent crackdown on exchanges or it's not easy to met one hour limit payment  with bitcoin when the network is congested.

Now that you mention that "most miners should have BCash in their wallets as well": Maybe they are trying to incentivize BCH mining, encouraging miners that plan to upgrade to new hardware to point their miners to BCH and stock up on it?

However I highly doubt that BCH is easier to trade in China. Especially since viaBTC, one of the earliest BCH adopters, was one of the exchanges that shutdown first. Also the one-hour-limit argument is kinda moot when BCH is majorly affected by hashrate fluctuations, making it highly unreliable at times to anticipate transaction times.