So I interviewed with Bitmain in Rockdale TX back in November. Ranting

[WhyFhy]

I interviewed with bitmain when BTC lost its floor (6k to 4k) and they seemed optimistic
I asked them about job security if BTC goes bust they said operations will resume as normal with potential to just mine alts
I brought up that alts where crashing just as fast and they didnt seem bothered but where no longer interested in my employment as I was asking to many operational questions. (The interviews where for facility manager BTW) I was also being interviewed by people who did not have much knowledge on BC itself.
So this project projected 400+ Jobs to Milam county at most it produced 15 employees and has since reduced to 5 employees this week(1/17/19).
Milam county made lots of provisions as a desperate town on verge of rebirth (http://www.milamcounty.net/docs/agendas-minutes/2018%20Minutes/Minutes%2011-13-18.pdf) Tax abatement's (contract is for tax free/tariff exemptions ect.  for 10 years among other things involving energy usage) but bitmain is falling short , In fact they are falling 98.75% short of contract terms!

ALSO mentioned during interview how would operations remain profitable if btc keeps crashing ? Mentioned them nulling out via difficulty/pricing ect. even with near free electricity an operation this scale would hardly sustain unless you are getting near free electricity or mining on in-house unreleased mining gear.   (didnt want to talk about operations/implements)

I was not mad I did not get hired, Just mad that I vested so much hope and optimism into them just to turn out they where nowhere near their P's & Q's like I would have thought.  Looking back Im glad I did not get hired, I would have moved to a baron town, signed new leases , transferred my kids school everything. Just to probably get fired/let go a month later. 

Are these signs that crypto is really going down or just bitmain?. Bitmain laid off %80 of its employees,tried to ipo on lies,wu stepping down just seems like a big train wreck cluster fuck coming soon.

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[franky1]

btcc has literally disappeared in 2017-8.. no ones talking about them

[Wind_FURY]

I was not mad I did not get hired, Just mad that I vested so much hope and optimism into them just to turn out they where nowhere near their P's & Q's like I would have thought.  Looking back Im glad I did not get hired, I would have moved to a baron town, signed new leases , transferred my kids school everything. Just to probably get fired/let go a month later. 

Bitmain is in a very difficult situation, and some of it caused by some questionable decisions made, other than Bitcoin's crash in the market.

Are these signs that crypto is really going down or just bitmain?.

Yes everything is "going down", but will Bitcoin and altcoins die? No, although I believe some shitcoins will.

Bitmain laid off %80 of its employees,tried to ipo on lies,wu stepping down just seems like a big train wreck cluster fuck coming soon.

Haha, yes. But I prefer to use the term "manipulated", to show that they are a growing operation.

[WhyFhy]

So seems everyone perceives Bitmain as the bad guy now (they really are shady) I preached this in ark sack back in 2016/17  they where manipulating markets such as only accepting bch on new batch releases. or check into antminer B3 (huge joke) My concept at interview time was if you cant beat them join them. then i tried and realised they could be beaten due to arrogant incompetency, glad competitors are out there now.

[TravelMug]

So seems everyone perceives Bitmain as the bad guy now (they really are shady) I preached this in ark sack back in 2016/17  they where manipulating markets such as only accepting bch on new batch releases. or check into antminer B3 (huge joke) My concept at interview time was if you cant beat them join them. then i tried and realised they could be beaten due to arrogant incompetency, glad competitors are out there now.

Well they literally shoot themselves in the foot when they decided to support Bitcoin Cash. They try to salvage everything by offering IPO which is a failure and then with Jihan's ouster, it's just a matter of time before competitor catch up with them.

[CaVO32]

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Are these signs that crypto is really going down or just bitmain?. Bitmain laid off %80 of its employees,tried to ipo on lies,wu stepping down just seems like a big train wreck cluster fuck coming soon.

generally speaking, i don't think it is crypto going down but it is bitmain. glad you didn't get hired, else your family will be in trouble. they made wrong decisions that made them fall.

So seems everyone perceives Bitmain as the bad guy now (they really are shady) I preached this in ark sack back in 2016/17  they where manipulating markets such as only accepting bch on new batch releases. or check into antminer B3 (huge joke) My concept at interview time was if you cant beat them join them. then i tried and realised they could be beaten due to arrogant incompetency, glad competitors are out there now.

Well they literally shoot themselves in the foot when they decided to support Bitcoin Cash. They try to salvage everything by offering IPO which is a failure and then with Jihan's ouster, it's just a matter of time before competitor catch up with them.

and i really don't believe the capability of Bitcoin Cash 'til now. unlike eth, they have strong developmental team but BCH, i wonder where they will go a year from now?

[gentlemand]

and i really don't believe the capability of Bitcoin Cash 'til now. unlike eth, they have strong developmental team but BCH, i wonder where they will go a year from now?

It'll still be chugging. 

It has Bitcoin in the name and enough money and infrastructure behind it. Traders don't care about a coin's use, development or fundamentals. It's on all the exchanges and has big volume. Ergo it stays.

[franky1]

this topic seems full of fud

OP seemsto be grasping at 10% of the info about how big farms work and making some big story of controversy
bitmain itself leases out facilities much like a franchise. so a 'operations manager' is not being employed by bitmain par-say but more so a private individual using the antpool brand and using the antpool stratums/supplies to maximise profitability

in short private individual gets discounted ASICS if they aim the hashpowr towards a antpool stratum, rather than set up their own farm at full price and have their own brand stratum they mine in
much like mcdonalds franchises get discounted meat and free advertising if thy use the mcdonalds brand. but does not men mcdonalds 'employs' the employees

as for how pools make profit/'survive if btc keeps crashing'
seems the OP has no clue how mining farms truly operate. because the business model of mining farms is totally different to hobbiests that just pool hop between profitable coins/alts and then sell on the markets.

it might be the reason the OP didnt get a operations management job as he had no clue how the operations worked

from my own investigations.
bitmain is just a management company. they GET income from franchise(farms) and from selling asics. thy ar not involved in the day-to-day of actual mining.
they dont really even care much about the day to day price of public market prices.

their own stash of ASICS are virtually free because for every ASIC sold privately to individuals is priced to include enough to make multiple units. so for every unit a individual buys more than one asic is made. and as such costs are low. thus able to do deals that hobbiests cant

[DooMAD]

this topic seems full of fud

OP seemsto be grasping at 10% of the info and making some big story of controversy

I guess the OP didn't realise you had the monopoly on that.  

in short private individual gets discounted ASICS if they aim the hashpowr towards a antpool stratum

Just antpool?  Not any other pools you might care to name?  Like maybe a pool sharing a connection with a certain website that likes to pretend BCH is the "true" Bitcoin?  

[franky1]

this topic seems full of fud

OP seemsto be grasping at 10% of the info and making some big story of controversy

I guess the OP didn't realise you had the monopoly on that.  

in short private individual gets discounted ASICS if they aim the hashpowr towards a antpool stratum

Just antpool?  Not any other pools you might care to name?  Like maybe a pool sharing a connection with a certain website that likes to pretend BCH is the "true" Bitcoin?  

firstly you seem to not know how franchises work. if a franchise is not using a brand. then its not a franchise and as such wont get all the benefits. think about it. (even logic without research can tll u that)

but if you still doubt it. research it before hitting the reply. google can teach you alot about alot of things. and seeing as you dont want to research bitcoin aftr months of asking you too, maybe you might be more interested in learning/researching non bitcoin specific stuff.. so how about try learning about franchises

mr flip flop meanderer this is a bitcoin forum. about bitcoin. if you want to try making social drama about altcoins. if you wanna take the topic away from discussing whats really going on related to bitcoin to become some social crap. find a different venue or atleast do your research, as your flip flop meanders are getting boring and just become an echo

but funny how you prefer to bounce your echos about 'what franky said' rather than the topic or the category.
if you cant talk about the bitcoin network and things that actually happen within the network. then find another hobby.

[WhyFhy]

and i really don't believe the capability of Bitcoin Cash 'til now. unlike eth, they have strong developmental team but BCH, i wonder where they will go a year from now?

It'll still be chugging. 

It has Bitcoin in the name and enough money and infrastructure behind it. Traders don't care about a coin's use, development or fundamentals. It's on all the exchanges and has big volume. Ergo it stays.

pretty sad huh? crazy thing is a lot of people didnt correlate asic sales and bch push , I think batches where dry for months before they released them and only accepted bch like the same day or day after the fork.

@Frank I dont know what to say to you except your kinda rude. (Noticed this in other post I lurk on too)

[franky1]

@Frank I dont know what to say to you except your kinda rude. (Noticed this in other post I lurk on too)

do a word count on people like doomad and his chums in regards to insults and you will see who is more rude

i admit i am not a over the top optimist who snake oil sales a roadmap by a certain group
i admit that i dont kiss peoples asses.
but i speak my mind. and many people actually prefer a realist discussing opposing thoughts rather than just hearing the empty echo's of those that just want to drive a certain narrative forward to suit a plan to make bitcoin infrustructure look bad purely to sell the promise of a separate network thats not even a blockchain, thus does not even belong in this arena

to me, my posts should be judged on the context and content of my opinion, not the comfort. because in my mind thr is already too much ass-kising in this forum to balance the forum.
those that want comforting messages and kisses and hugs can go to social media

but hey. if you dont like my tone. there is always the ignore button.

[Kakmakr]

You have to take this in the context and the time period when negotiations were done. Bitmain was very successful at the time and they also thrived with a high Bitcoin price. Since then, the Bitcoin price dropped with almost 90% and mining farms are hardly making a profit these days.

Bitmain most probably never thought that this might happen in the future, so they made a lot of empty promises and they were also looking for cheap electricity to make even more profits.  

[BuyBuyBitcoin]

Bitmain laid off %80 of its employees,tried to ipo on lies,wu stepping down just seems like a big train wreck cluster fuck coming soon.

This will happen in every bear market for the next decade with companies for various reasons.

Companies that overvalue "new-coins" or try to make a business out of some shiny shitcoin will go down most often.

Really good, innovative, sound strategy, large teams building things people will value 10 - 50 years from now will last. There are very few alt-coins that fit that bill. Amount of time, projects, teams and funding surrounding an alt, suggest higher value.

Anything that was a recent ICO or New Coin that didn't need to be an alt-coin is going to get rekt.

People working for those teams will also have to play the career change game, of finding similar projects like these shitcoins to earn money later OR move to high value projects with actual reason to exist. It likely gets harder to be hired by these projects the more involvement people have with shitcoins or failing projects in this space over time.

Then there are the companies that just can't manage money at all. Even with all of the right parts for a long term projects that everyone wants, theft and mismanagement of funds by so many people in the crypto space is still everywhere.

We're building money for the internet, on the internet with teams created through it as well....it's going to take some time for the dust to settle on how all of this is supposed to work well for everyone involved.

[Yaunfitda]

and i really don't believe the capability of Bitcoin Cash 'til now. unlike eth, they have strong developmental team but BCH, i wonder where they will go a year from now?

It'll still be chugging. 

It has Bitcoin in the name and enough money and infrastructure behind it. Traders don't care about a coin's use, development or fundamentals. It's on all the exchanges and has big volume. Ergo it stays.

And even if majority of us have been calling that bch should end up in oblivion, there are lot of gullible newbies still investing because its supposed to be the real "bitcoin", (until BSV comes and mess up the minds of newbie traders!).

Bitmain most probably never thought that this might happen in the future, so they made a lot of empty promises and they were also looking for cheap electricity to make even more profits. 

If that is their mindset then they not businessman, not looking in the future and competitions around. They are just self-centered, just looking for profits but doesn't understand how the market works and how a change can affect them negatively.

[franky1]

should the OP have actually done some research, which would have persuadd my opinion that maybe he was less fuddy.
he would know about how mining farm operations work to know enough so that the so called job he applied for would have given him a chance. but the stuff said in the OP seemed more echoy of reddit drama. than actual real life experince

also bitmains employee cull was not removing loads of its permanent staff, but just ending the contracts of temporary staff only taken on temporarily to cover certain tasks that needed to be achieved.
(hint: check employee numbers last year vs this year.. nearly the same. apart from the influx of temp staff in the middle that were let go, after their temporary projects where finalised)

much the same as how retailers reduce over half their staff each end of winter once the christmas/post christmas sales rush subsides where the staff numbers affected are mainly the 'christmas temps'

anyway i do agree that diversity in the industry is good and that there are competitors. but its a shame that the competitors prefer to not be as smart and instead do social games to play down their own issues and then try to suggest their own faults apply to the successful competitors.

i really do find it funny that BTCC which was a big name and a big advocate for segwit, never actually went on and used segwit for its own coin rewards. and eventually just slipped into oblivion after their own IPO with DCG

but the op of this topic seems to be getting more of his info from reddit FUD scripts rather than real research or first hand info which made me doubt his actual story of his top post. it just seemed too reddity. and not so much factual

[kelz1]

If they had done the IPO before killing the bitcoin market then they would be quids in, but sadly for them they backed the wring horse. They might recover later this year, time will tell

[TravelMug]

So seems everyone perceives Bitmain as the bad guy now (they really are shady) I preached this in ark sack back in 2016/17  they where manipulating markets such as only accepting bch on new batch releases. or check into antminer B3 (huge joke) My concept at interview time was if you cant beat them join them. then i tried and realised they could be beaten due to arrogant incompetency, glad competitors are out there now.

Well they literally shoot themselves in the foot when they decided to support Bitcoin Cash. They try to salvage everything by offering IPO which is a failure and then with Jihan's ouster, it's just a matter of time before competitor catch up with them.

and i really don't believe the capability of Bitcoin Cash 'til now. unlike eth, they have strong developmental team but BCH, i wonder where they will go a year from now?

As far as capability, they have a lot of it, specially the people behind Bitcoin Cash. But as far as support of investors or crypto enthusiast, I don't they will enjoy such as people tend to see them as the bad actor here. Specially the attempts they made (attacking Bitcoin) after their fork in 2017. People do remember and seldom forgot things here in the community.

[erikoy]

They do nothing have to worry. Why they worry when they are only receiving money from the investors from the start through ICO and just spending some of it for their services or product to which it will create more demand. Crypto is indeed money in space so therefore they could have nothing to worry. Besides, they are the one who benefited the market crush of cryptocurrency. These guys know about already and withdraw all their holdings. They can set up all the investors and that is why some.says that there is market manipulation. Probably there could be a manipulation with just a good.communocation to all large crypto holders then they can definitely turn crypto market upside down.