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/biz/ - Business & Finance

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10658680 No.10658680 [Reply] [Original]

bitmain fucked up and sold almost all of their bitcoin for bcash and is now holding over 1million bcash

They know they can't sell their holdings at market rate and have decided to IPO
They already have lost over a billion dollars on this gamble and will continue to lose more

Why are chinks so pathetic?

>> No.10658706

bitmain doesn't fuck up

>> No.10658710
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10658710

>>10658680
Fight against BTC, get rekt.

>> No.10658727

They'll still get enough money from uneducated investors. Pretty hilarious.

>> No.10658738

>>10658680
Bitmain Casssssssssssssssssssssssssh

>> No.10658744

>>10658727
all the people reading the IPO documents are laughing at how hilariously overvalued their assessment is
they literally gambled and lost their company on bcash

>> No.10658751
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10658751

>>10658727
I’m in

>> No.10658797

what's even funnier they didn't time the bullrun to 20k either
they're literally pawns in the market and are getting btfo by samsung and other emerging mining companies
their best course of action is to IPO to cut their losses and lower their risk
the bitmain era is over

>> No.10658806

>>10658744

Can You tldr why their ipo is bad? Pls

>> No.10658830

>>10658806
it's bad for investors because bitmain overvalued their company
Their assets consist of over 1 million bcash which is worthless and crashing everyday
how could you even sell 1 million bcash?

>> No.10658853

>>10658806
this IPO is basically bitmain cashing out what's left of their company
now the mining reward subsidy is halving more
more mining companies are entering the competition
they hold 1 million bcash
2nd layer solutions are the future (based of the poor performance in ETH)

their business models are failing so they've IPO'd their company

>> No.10658939
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10658939

This is some of the best news for bitcoin in a while
the economic incentives are btfo bad actors and now mining is being more decentralized

>> No.10658969
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10658969

>if bitcoin core devs didn't disclose the bcash vulnerability, it could've wiped a billion dollars off their balance sheets.
If it wasn't for cory fields bcash would be over
proving once again white people are too nice and the reason why we have nice things

>> No.10659053

>>10658969
I disagree with what he did. He should just have let bcash and bitmain die a swift death. Now it will take two or three years.

>> No.10659134

>>10659053
same here but it's kind of funny treating them like children
They lose every argument from here on out, bad code, bad vision, they even get bailed out by the people they talk shit on it's hilarious

it makes their entire group a joke and look childish

>> No.10659147

>>10659053
maybe bitmain would go full retard and try a 51% to defend their awful decisions if bcash failed that hard
now they'll slowing become irrelevant and be forgotten in 5 years

>> No.10659155
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10659155

>>10658680

>> No.10659184

>>10659134
unlike the professional NDA chads at chainlink who write perfect code

>> No.10660410

serves them right. their retail site lacks any proper security and I lost 2 BCH as a result.

>> No.10660529

>>10658797
>>10658830
>>10658853
>>10658939
>>10658969
>>10659134
>>10659147

>all same id Bitcoin Core fag
>invested all in BCore owned by (((Blockstream)))