Bitmain forces its co-founder out

[jootn2kx]

Bitmain's co-founder Micree Zhan was forced out of the company, according to the recent news. Since he is the richest crypto owner in the world, people are now worried that he might retaliate by dumping BCH. What do you think?

https://www.ccn.com/richest-crypto-billionaire-forced-out-bitmain/

[CjMapope]

Ooo thats some juicy crypto-drama upfolding
reading the article and the blockstream dudes twitter thread gives no exact explanation on HOW they ousted a 37% stake holder so fast
i wonder if this will be the end, or just the beginning of even bigger drama  

[tinyteapot]

He is rich enough to start a parallel company to serve as a competitor to the Bitmain probably with a better and cheaper products.

They started bitmain together and while the CEO Wu Jihan was busy with vacations and holidays Micree Zhan Ketuan was working and accumulating BCH ( i doubt he will dump the BCH in retaliations )

https://www.bloomberg.com/news/articles/2019-10-29/top-bitcoin-miner-engulfed-in-power-clash-as-co-founder-ousted

[tabas]

Bitmain was so harsh, he was banned completely and immediately from the company's premises. Let's see how this guy will answer with that act towards him.
He can dump as an answer but that was the opinion of the Dovey Wan.

[leea-1334]

How do we know he is the richest owner in the world? He owned shares of a company, which is goes bust means he also has less value.

Go ahead and retaliate and dump BCH. Nobody cares in the real world, just all of these guys with lives who are far above the rest of us,,, I thought WuJihan already gave up on Bitmain?

[CjMapope]

He is rich enough to start a parallel company to serve as a competitor to the Bitmain probably with a better and cheaper products.

They started bitmain together and while the CEO Wu Jihan was busy with vacations and holidays Micree Zhan Ketuan was working and accumulating BCH ( i doubt he will dump the BCH in retaliations )

https://www.bloomberg.com/news/articles/2019-10-29/top-bitcoin-miner-engulfed-in-power-clash-as-co-founder-ousted

ooo imagine if THAT happens :O Zhan could, with the same if not tighter connections in China, start a competitor. imagine:

-He starts his own company, takes maybe 20-40% (more?) of the best engineers with him
-Spends the next 5 years just underselling Bitmain and slowly destroying them from the "ex-inside" out
-Zhan forms good relationships with grassroot dudes like Sidehack, Miners become way more affordable, accessible, and reliable, further damaging Bitmain
-BITMAIN RIP in 5 years, China Equivalent chapter 11

That would be awesome, true capitalism heh

[mindrust]

Remember both of these guys Zhan and Wu are bcashers. They fighting each other is fun to watch but ultimately they won't do anything super harmful to each other. It won't be more than a pillow fight.

Think it like this, both of them have nukes. If one of them uses it, the other one also will have to use and it will destroy them both.

[CjMapope]

Remember both of these guys Zhan and Wu are bcashers. They fighting each other is fun to watch but ultimately they won't do anything super harmful to each other. It won't be more than a pillow fight.

Think it like this, both of them have nukes. If one of them uses it, the other one also will have to use and it will destroy them both.

ahh, ok.
well thats not as dramatic/fun as i hoped, probably best for BTC tho :p

[tinyteapot]

He is rich enough to start a parallel company to serve as a competitor to the Bitmain probably with a better and cheaper products.

They started bitmain together and while the CEO Wu Jihan was busy with vacations and holidays Micree Zhan Ketuan was working and accumulating BCH ( i doubt he will dump the BCH in retaliations )

https://www.bloomberg.com/news/articles/2019-10-29/top-bitcoin-miner-engulfed-in-power-clash-as-co-founder-ousted

ooo imagine if THAT happens :O Zhan could, with the same if not tighter connections in China, start a competitor. imagine:

-He starts his own company, takes maybe 20-40% (more?) of the best engineers with him
-Spends the next 5 years just underselling Bitmain and slowly destroying them from the "ex-inside" out
-Zhan forms good relationships with grassroot dudes like Sidehack, Miners become way more affordable, accessible, and reliable, further damaging Bitmain
-BITMAIN RIP in 5 years, China Equivalent chapter 11

That would be awesome, true capitalism heh

Well said.

Micree Zhan Ketuan knows the best workers in the company and enjoy the loyalty of more than 65% staff of bitmain, He will filter out the best hands from the bitmain staffs and offer them better working conditions with an increased salaries.

I read somewhere that the decision taking against Zhan was motivated by envy.