More bad news for Microbt CEO is being held for questioning!.

[Philipma1957cellphone]

Apologies in advance I have limited access to internet. But I found two telegram posts.   On CEO of microbt being held in Shenzhen China. Looks like bitmain is pulling the strings. I found a link from btcbull on telegràm.  Google  , Shenzhen police  hold microbt ceo.      Zuoxing Yang seems to.be.the one being held.

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[Biffa]

https://www.coindesk.com/founder-of-bitmain-rival-held-by-police-over-possible-ip-dispute



Among others

https://www.google.com/search?q=microbt+ceo

[Philipma1957cellphone]

thank you.  It looks like bitmain has the.long knives out and cutting away.  I hope that the microbt ceo does not get jail time.

[HagssFIN]

It is a real mining drama out there with the Bitmain power battle (Jihan Wu vs. Micree Zhan) and MicroBT CEO Yang Zuoxing police case.

[DaveF]

What chaps my ass is that stealing IP from other Chinese businesses = bad. Stealing from other people = not as bad.

With that being said, we don't know what really happened. It's easy to say it's Bitmain being evil but, we really don't know if there was any IP theft. With stuff like this, with a short life-cycle every tiny advantage is important. So where sometimes you might look the other way, here is does matter.

Also, and this is just me. I have had contact with 3 MicroBT miners. 2 bought online and1 from Philipma1957
All 3 are dead. So unless they stole the secret plans for paperweights I really don't care.

-Dave

[philipma1957]

yeah that miner was sold from pangolin and never was right.

i suspect they were binning the boards and sold me a miner with three shitty boards.

those boards when they worked on high speed did 13th 8.5th 8.5th total 30th.

i had eight m10 units and that was the only bad machine it was also the only machine with boards under 9th on high and over 12.5 th on high.

so i think they slapped it together from multiple units.

i think they did this on three of the eight units.

since seven units worked good and since the two m20s work well along with the one m21s

i can’t complain too much. still not the right way to do business.
i think we may see the end of whatsminer,pangolinminer,microbt very soon.

[ZimbaCardi]

i think we may see the end of whatsminer,pangolinminer,microbt very soon.

I hope not! I have a very large percentage of my Cripto invested in them.

So far the few M10's I have been true to TH since May but for a hicup in updating and I really like how they do the heat sink vs Antminers.

Pangolinminer has treated me more than fair, I bought used M3's from them and a few new M21S as well. Have gotten credit when and where stated.

So here is a happy customer hoping the legal issues het cleared like they did last time Bitmain went after them.

[Searing]

It is a real mining drama out there with the Bitmain power battle (Jihan Wu vs. Micree Zhan) and MicroBT CEO Yang Zuoxing police case.

Yeah, in the below article it says that Bitmain CEO is back to 'save the ship'! Is Bitmain really in that much trouble it could go under?

https://cointelegraph.com/news/bitmain-ceo-ousts-co-founder-biggest-shareholder-to-save-the-ship

With all the goofy Bitcoin Cash and Bitcoin SV etc Mining Bitmain did in the past, I wonder if it is a matter of 20/20 hindsight on those

screw-ups that are bringing the knives out. They sure are pumping out miners like they really, really need the cash flow, IMHO.

Better minds here on this thread than me may have better insights, just what comes to mind for me at this moment.

Brad

[philipma1957]

Searing do you remember the tv show Dallas  a bunch of rich mofos  trying to hurt each other.

Looks to me  like these is just about the same.

[HagssFIN]

I wonder if Wu or Zhan is more of a BCH guy.

[DaveF]

Yeah, in the below article it says that Bitmain CEO is back to 'save the ship'! Is Bitmain really in that much trouble it could go under?

I put that more under the title of "Standard Press Release" when a new CEO comes in.

Kind of like when Brian Niccol came in to Chipotle as CEO last year. The company was doing OK, but far from as well as it should be doing.
But he was there to save them from the food contamination issues (already fixed) and the stagnation (was a work in progress at the time)
Because a press release saying, "We are doing OK, but this change will make you forget about our past mistakes" does not read as well.

I don't see this as any different.

-Dave

[Artemis3]

So the whole Jihan Wu "dismissal" was just part of the act? I guess when you own the thing you can pull things like that and more...

Looks like this is just the old fashioned competition threatening profits of big corp, or, lets play monopoly in a country that doesn't care.

I always got the impression that Pangolin was a third party (re-seller), not directly related to MicroBT. They did sold used S9s there at some point. It would be unfair to judge MicroBT based on that, i don't think one equals the other (unless it was intentionally set up to appear that way).

I also know that MicroBT has one or more ex Bitmain employees, doesn't this send a message? "Once you work with us, you may never leave, or else"? Again, this is China, none of your "freedoms" matter. Perhaps bribe your way to officials in "The Party" or be somehow connected to them works best.

Lose of competition and strengthening of the Bitmain monopoly only leads worse choice for customers. Last year MicroBT pushed Bitmain around, this was good and January had good price in mining gear; if they go, Bitmain will go back to sleep or worse, play making altcoins and whatnot...