Bitmain is mining with AsicBoost. Making it look good for the IPO?

[Wind_FURY]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

[Ava Duvall]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

"Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment." I have also read about this , its one of their biggest problems.

[aray80]

A posibility Bitmain is trying to look good for their IPO and Bitmain is also to try pursuing a deep investment loss in Bitcoin Cash, and doing Mining using AsicBoost is the best solution to save its assets, even though the results are not convincing

[stompix]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

It's basically the same thing.
He is desperate because there are better miners coming out, for the first time in years they have a competitor in Inno with the T2 and Pango with the M10, cannan is also getting closer, he can't control the numbers of miners getting plugged in anymore, prices are dropping...they need money, and right now it doesn't really matter how they will get it.
After all, they have no image to protect!

[Kemarit]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

This is what I believed that drove Bitmain to have a IPO. The stash of their Bitcoin Cash is slice in half and they needed money, they just invested $500 Million in a mining facility in Texas, so that's huge. And Bitmain's IPO targets around $3 Billion, a figure I don't see likely to be hit. I agree that it will be landmark for crypto sphere if they raised that huge amount of money. But investors are getting smarter by the day. And as @stompix, competition is slowly at their backs, specially coming from Japan (GMO). Its a big gamble on their end to have this IPO, so let's see how it goes, if they can continue their bitcoin hardware dominance with the new influx of money coming from IPO.

[gesdan]

so its mean that we can get the high speed when we use the asicboost? or just an update from the ASIC miner before? what is boost mean? can you tell me about this? I'm very curious about the new asicboost

[mu_enrico]

Is it possible if that is because of the future bitcoincash split? Maybe Jihan desperately want to increase their hash rate to match up with Craig Wright's hash rate and use BTC pool as testnet. Or this was mainly just motivated by profit?

[Wind_FURY]

Is it possible if that is because of the future bitcoincash split? Maybe Jihan desperately want to increase their hash rate to match up with Craig Wright's hash rate and use BTC pool as testnet. Or this was mainly just motivated by profit?

Craig Wright and SBI would as well use AsicBoost to neutralize Jihan Wu's AsicBoost. I believe it has more to do with his IPO. He wants to make his miners and Antpool look very profitable. But, some rumors are out that Bitmain's Q2 numbers are "showing material deterioration in finances".

Plus Jihan Wu's biggest problem is investors of the latest round are asking for their money back.

[franky1]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

i see you have head deep in the propaganda.. so lets correct you
1. bitmain sold off its S9's cheap. ... why.. because they are testing the next get asics with less NM's (meaning faster generation ASICS) they just dont want to tell the economy they already have equipment until they tested it for a couple months (for quality assurance, and yea profit on rewards)

2. bitmain are actually core friendly. they are in the same pocket as the BS cartel. you can spot this by them using segwit for their coin rewards.
https://www.blockchain.com/btc/block/0000000000000000001387eeac2af4a6d8b2b78f9d51974e3406f44cd9e83872
they have allowed themselves to be targets of disaster as the distractor to turn heads away from developers.

3. if you still think the kardashian game changes anything. then you need to step back and take a better look at the 3 shell game of distracton.

[Wind_FURY]

I have been told by my Bitcoin friends online that Bitmain has started to mine using AsicBoost. But why? There are theories that it's because their hardware are becoming obsolete, and that they need to look good for their IPO.

But I believe it is a desperation move by Jihan Wu. Because besides the large inventory of obsolete hardware, Bitmain has also over-invested in Bitcoin Cash, and it is now worth half of their original investment. Plus they cannot dump them all at once because the market is not that liquid.

i see you have head deep in the propaganda.. so lets correct you
1. bitmain sold off its S9's cheap. ... why.. because they are testing the next get asics with less NM's (meaning faster generation ASICS) they just dont want to tell the economy they already have equipment until they tested it for a couple months (for quality assurance, and yea profit on rewards)

Ok then I will wait for the good news. When will that be?

2. bitmain are actually core friendly. they are in the same pocket as the BS cartel. you can spot this by them using segwit for their coin rewards.
https://www.blockchain.com/btc/block/0000000000000000001387eeac2af4a6d8b2b78f9d51974e3406f44cd9e83872
they have allowed themselves to be targets of disaster as the distractor to turn heads away from developers.

They are? Then why did it have to take the need for the UASF to have Segwit activated, why did they support the NYA and 2X?

3. if you still think the kardashian game changes anything. then you need to step back and take a better look at the 3 shell game of distracton.

No, you take a step back and take a better look if your "game" is working.

Before I forget, I also want to ask. Out of curiousity, are you supporting Jihan Wu or Craig Wright in the Bitcoin Cash civil war? Why? Who eould Roger Ver support?

[muslol67]

I have recently saw a news about this. What exactly is AsicBoost? Is it a trick on the network or a technology improvement? In the news, they've wrote about it was a negative thing. Is it a problem with Bitcoin network? If it is a technological improvement why everyone scared about it.

[stompix]

I have recently saw a news about this. What exactly is AsicBoost? Is it a trick on the network or a technology improvement? In the news, they've wrote about it was a negative thing. Is it a problem with Bitcoin network? If it is a technological improvement why everyone scared about it.

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.

 

[franky1]

1. Ok then I will wait for the good news. When will that be?

2. They are? Then why did it have to take the need for the UASF to have Segwit activated, why did they support the NYA and 2X?


3.No, you take a step back and take a better look if your "game" is working.

Before I forget, I also want to ask. Out of curiousity, are you supporting Jihan Wu or Craig Wright in the Bitcoin Cash civil war? Why? Who eould Roger Ver support?

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

[franky1]

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

[franky1]

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.

[Wind_FURY]

1. Ok then I will wait for the good news. When will that be?

2. They are? Then why did it have to take the need for the UASF to have Segwit activated, why did they support the NYA and 2X?


3.No, you take a step back and take a better look if your "game" is working.

Before I forget, I also want to ask. Out of curiousity, are you supporting Jihan Wu or Craig Wright in the Bitcoin Cash civil war? Why? Who eould Roger Ver support?

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.

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

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

Which is anti-Core, which Jihan Wu supported.

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.

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.

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)

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.

..
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.

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?

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.

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

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..

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.

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.

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?

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

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

Stop changing the topic. Go back to Bitmain is using AsicBoost because "why?"

Continue Lightning discussion in this topic, https://bitcointalk.org/index.php?topic=4638321.msg45521416#msg45521416

[Welinigh]

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.

[Wind_FURY]

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.

[Wind_FURY]

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

My caveat would be to ensure you’re paid in cash. And just to be clear for the modern world, this does not mean getting paid in Bitcoin Cash.

[Wind_FURY]

1. cheap last batch S9's $850 instead of $2k. batch ordering was in june 2018. as it was thir clearance sale.

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.

expect news in october/novemberish about thier next gen asics.

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?