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

[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?

Late reply, but that and to make their machines look better in the eyes of potential investors of their IPO were two theories circulating.

But there is another theory that is making some sense.

https://twitter.com/bobmcelrath/status/1049798903523143680

"Bitmain has miners and firmware which use the ASICBoost algorithm. They never gave it to customers and only used it for themselves. Segwit nullifies ASICBoost, and now that the network is > 50% segwit, they've turned ASICBoost back on, which is why they're mining empty blocks."

[Wind_FURY]

I believe Bitmain would be in a better situation today if Jihan Wu stayed with Bitcoin, and DID NOT take part in being one of the leaders of the Bitcoin Cash hard fork.

But we do not know if this "leak" is true or FUD. Does anyone know btcking555 on Twitter?

https://twitter.com/btcking555/status/1070068239542206465

We got leak of Bitmain Q3 numbers! COMPLETE DISASTER. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! #bitmainipo @HKEXGroup

[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

Hi franky1, we can finally put the debate to a close. No, I wasn't "head deep" in the propaganda. Now it's known that Bitmain will not be having an IPO, and that there are furious Asian investors who were possibly scammed to invest last year because of the fake valuation of the company.

Expect a class action lawsuit against Jihan Wu, and Bitmain.

[franky1]

you still got no clue.
i really worry about the source material that your getting.
everything from understanding bitcoin. byzantine generals theory, consensus, blockchains, what segwits purpose is, what mining is how the mining industry is structured. even stuff like LN.

you spend soo much time repeat the same boring false stuff propagandised around reddit and twitter. and yet after sooo sooo many months i have not yet seen an original and independent thought.

just imagine if you just took a month and used that month to really learn things about bitcoin. instead of getting involved in the social drama

[Wind_FURY]

you still got no clue.
i really worry about the source material that your getting.

Then what source material should I be getting? Yours?

everything from understanding bitcoin. byzantine generals theory, consensus, blockchains, what segwits purpose is, what mining is how the mining industry is structured. even stuff like LN.

Weren't you relating Byzantine Generals Theory to getting consensus in Bitcoin's development, or some nonesense like that?

Weren't you spreading misinformation about Lightning by telling everyone that "IOU pegged promises to pay" are issued in LN?

you spend soo much time repeat the same boring false stuff propagandised around reddit and twitter. and yet after sooo sooo many months i have not yet seen an original and independent thought.

All newbies, don't listen to me. Listen to franky1, and learn the hard way.

just imagine if you just took a month and used that month to really learn things about bitcoin. instead of getting involved in the social drama

I hope the newbies will take a month to read and believe everything you say.

But on-topic, would Jihan Wu be in a better situation if he didn't support, and didn't convert Bitmain's Bitcoin to Bitcoin Cash?

Was he scammed by Roger Ver, or was he in with Roger Ver on the idea to attack Bitcoin?

[franky1]

windfury spend less time with your social drama and spend more time learning about bitcoin
your getting real boring now. and getting too obvious your not on this forum to learn/get things right
your about as boring and unwilling to learn as lauda(anothr core centralist fanboy) was couple years ago, and he was playing the same games u are now. thats how boring you are. nothing new, just same social drama stuff on repeat

meanwhile, to update everyone on the reality

1. anyone can mine with ASICBOOST, infact its best people do. as it gets more hash/sec by doing so = more secure network
2. jihan wu didnt lose his job or get sacked or resign. he now chairman/director of bitmain (promoted himself) and then delegated and put someone else into doing the day-to day job of ceo.
3. bitmain was mining with asic boost for like well over a year before IPO application  in 2018.
4. bitmain didnt lose an IPO due to funding/investor risk not wanting to invest. bitmain didnt even get to the stage of being able to IPO because of chinese regulators not even signing off on the application
5. making 500 in q1 making 500 in q2 and spending 500 in q3 = still having 500 in q3
6. most of the social drama of antpools/bitmain is helmed by samson mow of (ex)BTCC. who is butt hurt that he lost his job with btcc when BTCC didnt survive. so samson is pretending that mining/bitcoin itself is the cause of his recent issues. rather than him losing his job.
7. as for title of this topic.. the IPO thing neds chinese regulators to sign off on the application before investors even get to count a dime/buy a share. so stuff about asicboost has no sway on regulators as regulators involvement in the application stage, is totally different to investors valuation at different stage

they way i see bitmain is the same as i see AMD(ati) in the GPU days

[Wind_FURY]

windfury spend less time with your social drama and spend more time learning about bitcoin
your getting real boring now. and getting too obvious your not on this forum to learn/get things right
your about as boring and unwilling to learn as lauda(anothr core centralist fanboy) was couple years ago, and he was playing the same games u are now. thats how boring you are. nothing new, just same social drama stuff on repeat

Comparing a stupid moron like me with Lauda would be a disservice to her. Hahaha

You call the truth "social drama", but call your twisted reality "the truth?

meanwhile, to update everyone on the reality

1. anyone can mine with ASICBOOST, infact its best people do. as it gets more hash/sec by doing so = more secure network
2. jihan wu didnt lose his job or get sacked or resign. he now chairman/director of bitmain (promoted himself) and then delegated and put someone else into doing the day-to day job of ceo.
3. bitmain was mining with asic boost for like well over a year before IPO application  in 2018.
4. bitmain didnt lose an IPO due to funding/investor risk not wanting to invest. bitmain didnt even get to the stage of being able to IPO because of chinese regulators not even signing off on the application
5. making 500 in q1 making 500 in q2 and spending 500 in q3 = still having 500 in q3
6. most of the social drama of antpools/bitmain is helmed by samson mow of (ex)BTCC. who is butt hurt that he lost his job with btcc when BTCC didnt survive. so samson is pretending that mining/bitcoin itself is the cause of his recent issues. rather than him losing his job.
7. as for title of this topic.. the IPO thing neds chinese regulators to sign off on the application before investors even get to count a dime/buy a share. so stuff about asicboost has no sway on regulators as regulators involvement in the application stage, is totally different to investors valuation at different stage

they way i see bitmain is the same as i see AMD(ati) in the GPU days

Ok, then do you believe that there will be no class action lawsuit against Jihan Wu because of misreprentation of data coming?

Newbies, if he answers no, listen to him.

[franky1]

Ok, then do you believe that there will be no class action lawsuit against Jihan Wu because of misreprentation of data coming?

Newbies, if he answers no, listen to him.

all your waffle ovr the last few months show you know litrally nothing about whats actually going on.
as for your source of bitmain info (samson mow propaganda) he has no clue either

1. bitmain are not managing all the asics of the pools. the best simplified explanation of bitmains infrustructure is of a licencee/franchise enterprise. private businesses/entities manage diffrent farms that are just leased under the brand of antpool and those private businesses get discountd asics in exchange for aiming the hashpower at a pool.
its like many mcdonalds. not actually run by mcdonalds but they get cheap burger patties and make their own profits. all that ronald mcdonald(wu) has to worry about is getting a fee each month.
most of the income is from selling goods to their franchise's, private individuals and also the OTC stuff.. bitmain do not worry/care for public exchange price movements

2.wu has not lost his job(unlike samson 'butt hurt' mow) wu still owns and heads up bitmain. he just delegated the day-to day operations to someone else.

3. again making $500m Q1 + $500m Q2... then spending $500m q3. does not mean the company is at $500m loss. it means they still have $500m in their pocket.

4. the employee recruitment of late 2017 and then the employee shrinkage of mid 2018 is normal practice of only hiring temps. the contracted (long term) employee numbers are still stable/similar to prvious years = no drastic change/drop

5. the IPO didnt even get to the investor stage. thus no investor loss, thus no investor lawsuit. the chinese regulators didnt even accept the application because the industry is a new concept they dont understand and thus didnt want to regulate it.

6. if you done your research and thre are many real statistical sources you can actually find, should you care to look beyond wiki,reddit,twitter social crap. you would se that bitmain is actually cashflow positive and happily investing in other companies

7. anyway the big picture of bitmain vs bitcoin. bitmain cannot 'chang the rules' of the network. mining is just about collating data into blocks and then using asics to hash a block identifier. so all your social drama that bitmain is a big threat is empty of logic.

8. even your social drama of ver and wright. again empty social drama. they are not even influencers, they are altcoiners. = no impact to bitcoin. they ar just the distraction tchniques used to overt peoples gaze away from the real bitcoin impactors(th bitcoin devs)

9 anyway this topic title. should it have been written 5 years ago durinng the GPU mining days would have just ben as boring as:
"AMD(ati) is mining using openCL" and then having some fool from nvidia cry about how he lost his job because nvidia aint as good but proclaiming that ATI is evil

[Wind_FURY]

Ok, then do you believe that there will be no class action lawsuit against Jihan Wu because of misreprentation of data coming?

Newbies, if he answers no, listen to him.

all your waffle ovr the last few months show you know litrally nothing about whats actually going on.
as for your source of bitmain info (samson mow propaganda) he has no clue either

1. bitmain are not managing all the asics of the pools. the best simplified explanation of bitmains infrustructure is of a licencee/franchise enterprise. private businesses/entities manage diffrent farms that are just leased under the brand of antpool and those private businesses get discountd asics in exchange for aiming the hashpower at a pool.
its like many mcdonalds. not actually run by mcdonalds but they get cheap burger patties and make their own profits. all that ronald mcdonald(wu) has to worry about is getting a fee each month.
most of the income is from selling goods to their franchise's, private individuals and also the OTC stuff.. bitmain do not worry/care for public exchange price movements

2.wu has not lost his job(unlike samson 'butt hurt' mow) wu still owns and heads up bitmain. he just delegated the day-to day operations to someone else.

3. again making $500m Q1 + $500m Q2... then spending $500m q3. does not mean the company is at $500m loss. it means they still have $500m in their pocket.

4. the employee recruitment of late 2017 and then the employee shrinkage of mid 2018 is normal practice of only hiring temps. the contracted (long term) employee numbers are still stable/similar to prvious years = no drastic change/drop

5. the IPO didnt even get to the investor stage. thus no investor loss, thus no investor lawsuit. the chinese regulators didnt even accept the application because the industry is a new concept they dont understand and thus didnt want to regulate it.

6. if you done your research and thre are many real statistical sources you can actually find, should you care to look beyond wiki,reddit,twitter social crap. you would se that bitmain is actually cashflow positive and happily investing in other companies

7. anyway the big picture of bitmain vs bitcoin. bitmain cannot 'chang the rules' of the network. mining is just about collating data into blocks and then using asics to hash a block identifier. so all your social drama that bitmain is a big threat is empty of logic.

8. even your social drama of ver and wright. again empty social drama. they are not even influencers, they are altcoiners. = no impact to bitcoin. they ar just the distraction tchniques used to overt peoples gaze away from the real bitcoin impactors(th bitcoin devs)

9 anyway this topic title. should it have been written 5 years ago durinng the GPU mining days would have just ben as boring as:
"AMD(ati) is mining using openCL" and then having some fool from nvidia cry about how he lost his job because nvidia aint as good but proclaiming that ATI is evil

After all that long winded post, you didn't give me a direct answer. Do you believe that there will be NO class action lawsuit coming for Jihan Wu because of misrepresentation of data given to investors?

Plus I'm curious about this, would Bitmain be in a better financial situation if Jihan Wu didn't risk supporting Roger Ver on Bitcoin Cash?

[franky1]

THERE WERE NO INVESTORS!!!!!!!!!!!!!!!!!!!!

5. the IPO didnt even get to the investor stage. thus no investor loss, thus no investor lawsuit. the chinese regulators didnt even accept the application because the industry is a new concept they dont understand and thus didnt want to regulate it.

thus no one to start a class action law suit
NO ONE LOST OUT!!!
PLEASE READ. PLEASE RESEARCH


as for the bitcoin cash drama.. stop trying to get your info from reddit/twitter. you have no clue

by the way.
many people 'have' bitcoin cash.
but thats because they have such old cold stores that they didnt even bother to move out the forks because they dont care about forked coins.

the value of forked coins can swing all it likes and on paper it would show as different value of holdings.
this does not mean a real profit or loss. it just means. untouched/unimportant assets.

for instance i know people that collect beanie babies and first edition harry potter books. but never EVER intend to sell them. so it doesnt matter if the daily/monthly value of what they hold goes up or down, as its value they will never see as fiat, so they dont care about the fiat value, so the fiat value is not important.

also. people scream how bitcoin lost 80% value ($20k -$4k) but the reality is the $20k was not a fair valuation. nor one that anyone took advantage of for anything long term. so most pople nver actually 'lost' that much because they never actually bought at $20k
bitmain dos not 'buy' coins. so would not have EVR had a $20k initial valuation of a hoard of coins.
same with all the forks.
the true underlying value would have been based on how much it cost to mine the coins.. and guess what. bitmain did not mine a hoard of bitcoin cash. instead it got a hoard for free from the forks. thus the cost/initial value was low/nothing. thus any 'sell value' would be profit

learn LOGIC, do research.

[Wind_FURY]

THERE WERE NO INVESTORS!!!!!!!!!!!!!!!!!!!!

5. the IPO didnt even get to the investor stage. thus no investor loss, thus no investor lawsuit. the chinese regulators didnt even accept the application because the industry is a new concept they dont understand and thus didnt want to regulate it.

thus no one to start a class action law suit
NO ONE LOST OUT!!!
PLEASE READ. PLEASE RESEARCH

You didn't answer the question.

There were no pre-IPO investors who invested in Bitmain? Then there will be no class action lawsuit coming for Jihan Wu, or Bitmain? None?

as for the bitcoin cash drama.. stop trying to get your info from reddit/twitter. you have no clue

Jihan Wu didn't support the Bitcoin Cash hard fork?