/biz/ - Business & Finance

[Anonymous No.12126913]

How long before bankruptcy?

[Anonymous No.12126917]

>>12126913
Soon

[Anonymous No.12126927]

>>12126913
How the fuck can Bitmain go bankrupt? They should have been able to sell a fuck ton of BTC near the top in order to keep operations going through the bear market. Is it because of bad management or where the fuck does this "bankruptcy" rumor come from?

[Anonymous No.12126938]

Waiting for discount 1080ti

[Anonymous No.12126951]

>>12126927
they're bagholding BCH in a big way

[Anonymous No.12126968]

>>12126927
They’ve defaulted on the loan they took for all the asic chips that TSMC made for them.

[Anonymous No.12126974]

>>12126927

Jihan bet the farm on bitcone cash, borrowed way too much money, and decided he wasn't rich enough already, and launched an IPO.

Cash is a fucking disaster, he owes anywhere from 300 to 700 million dollars, and the IPO hasn't gone over so well. It's unlikely that they'll go bankrupt, but they're sure not doing so hot right now.

Hardware sales have dropped to basically 0.

[Anonymous No.12126982]

>>12126927
they bought over 1 million bcash for average $900+ each (it's in their IPO document)
they're trying to offload 1 million bcash coins as part of their company
they also have like ~20k BTC maybe less

there's also a rumor that their new mining chips have failed many times and they're 100s of millions in the hole from them

[Anonymous No.12126999]

bitmain also lost their lead chip developer who created the S9

[Anonymous No.12127011]

They've closed research and development offices in the last month
bcorncrash really ruined them

[Eternal Boomer No.12127023]

>>12126927
Why should they use the profit they made, to mine Bitcoins at a loss instead of shutting down the operation?

[Anonymous No.12127033]

>>12126974
>>12126982
>>12126999
>>12127011

Christ what a comedy. How do you fuck up so badly. You'd think a whale like Jihan would have realized he was in a bubble.

I love how all these Bitcoin idealogical purists have all shot themselves in the foot with this bash crap. It's kinda funny when you realize the super whales at the top of BTC aren't in it for the money, but for the ideology, and realize they will kill their billions just for their decentralization fetish.

[Anonymous No.12127038]

>>12127023
they most likely did this to corner the market 4 years ago
a lot of ASIC manufacturers went out of business and they didn't understand how bitmain could remain profitable

[Anonymous No.12127054]

>>12126982
yikes

[Anonymous No.12127081]

>>12127023

Jihan isn't exactly allowed to simply shut his shit down and escape to a tax haven. He got into bed with chinamen officials, and has been taking money from rich faggots all over the place.

[Anonymous No.12127100]

>>12127081
>Jihan isn't exactly allowed to simply shut his shit down and escape to a tax haven. He got into bed with chinamen officials, and has been taking money from rich faggots all over the place.
Will he suicide or gulag?

[Anonymous No.12127121]

>>12127054
the first chink column is number of coins
the 2nd is average buy price
and the 3rd is their valuation of the asset in 1000s, so 887,488 is $887,488,000
which is SV $64 + ABC $73 = 137
time 1 miillion coins 137,000,000 but they can't even sell those on market without crashing it further

[Anonymous No.12127138]

>>12127033

We all underestimated the stupid money that was being thrown around at the time though. I means I guess people had an idea but in hindsight this really was the dotcom boom and bust. Although if you make the right moves now in about 5 years you might not have to work anymore. The key to that is realizing that there is about to be some serious legislating done to crypto and you better be in the coins and tokens that they deem acceptable.

Sorry that bursts everyone's crypto-anarchy bubble but its the truth. I mean go ahead and keep trading your shitcoins or whatever but good luck cashing them out to fiat. If you're not buying into projects that are actively trying to work with the US gov (the coinbase mafia coins and tokens, sv, etc) then you're probably not going to make it. Oh and bitcoin won't die but it will never go back up to its previous ATH's. There's too much other good tech out there that will supplant it.

[Anonymous No.12127141]

>>12127033

The captains of industry only looked smart and like they knew what they were doing when compared to others in the crypto meme sphere.

Jihan is probably the dumbest of all of them. He'll get a JUSTing to rival Ross Ulbricht and Mark "my GOX is amazing" the Magikarp, but since he's not in a civilized nation that gives a fuck about human rights, he'll be lucky if all he losses from this is his personal fortune.

[Anonymous No.12127163]

>>12127121

Man that does not look good at all. When this thing goes its gonna be another goxxing

[Anonymous No.12127203]

>>12127141
kek
>>12127163
yeah probably, good thing they only have 20k corns

[Anonymous No.12127264]

>>12127203

Buttmain shifted their corn collection to cone crash partially to escape the GOX coins return, which will take place sometime early next year.

The re-GOX will be the most amazing thing ever. Thank god cornlords pushed for civil rehabilitation out of greed, rather than take money in the hand from a bankruptcy.

I find it particularly hilarious that Mark himself's the one who's doomed the creeptoland. The original cones will forever spawn fork cones of whatever shitcoin crazies like Craig invent, which means that even 30 years from now, the GOX hoard will still be constricting the stability and price of whatever cornbits exists.

Mark's secret samurai technique, the Magikarp vorpal JUST slash, cuts through time and space, GOXing the coiners 5 years after they were initially GOX'd.

[Anonymous No.12127295]

>>12127264
it's like he has an entire deck of magic the gathering cards up his sleeve

[Anonymous No.12127355]

>>12127264
sure thing cone crash wont go below $5 once Gox coins return and crash the market as you described. makes sense holding on to a fork thats tied to btc

[Anonymous No.12127386]

>>12127121

>this chart

HOLYFUCK

>all those Litecoins
>bought MORE after Charlie dumped his
>he's STILL fucking holding them

AHAHAHHAHAHAHA

Also that pitiful amount of ETH, and the fact he FOMO'd into them at the top. Christ lol.

[Anonymous No.12127398]

>>12127100
Hopefully both

[Anonymous No.12127409]

>>12127138

Yeah you sound like your right.

I'm in Link right now and they are trying to be compliant in everything they can be, so they look like they will be one of the few to survive the coming crackdowns.

>>12127141

Can't wait. I love watching these trainswrecks from afar.

[Anonymous No.12127440]

>>12127386

Imagine Jihan's face everytime he remembers his singularity bags.

[Anonymous No.12127448]

>>12127264
This was beautiful

[Anonymous No.12127586]

>>12127138
>Oh and bitcoin won't die but it will never go back up to its previous ATH's. There's too much other good tech out there that will supplant it.
you are fucking retarded, there is no tech beyond btc after 10 years and everyone knows this, just because you're sitting in your regulatory-safe shitcoins doesn't mean someone is gonna pump them for you just because they are on coinbase or whatever.
>sv
lmao

[Anonymous No.12127616]

>>12126913

[Anonymous No.12127739]

Their wallet still has 7.7k btc.
And they raised like 500 million from idiots so they might not die.

[Anonymous No.12128102]

>>12127739
>raised like 500 million
proof? their ipo idea is a flop

[Anonymous No.12128810]

>>12127586
Why does every corecuck shill say lmao?

[Anonymous No.12128827]

>>12128810
sorry kind sir, I was wrong buy bitcoin satoshi vision, it's a ver good bitcoin, one of the best bitcoins on the market currently, very stiff, much appreciate sir thanks bye

[Anonymous No.12128866]

>>12126913
You realize Jihan and fake satoshi tanked the market to save on taxes, right? They'll be just fine once they use their 2018 tax returns to buy the bottom they created

[Anonymous No.12128942]

>>12127386
he is probably a bizlet, one of us

[Anonymous No.12128950]

>>12126913
Roger is about to pump the price.

[Anonymous No.12129021]

>>12127138

Finally some sanity.

[Anonymous No.12129045]

>>12127038

Chinese government might own them secretly, maybe?

[Anonymous No.12129065]

Bitmain can easily raise money from investors. They can easily shift their focus to running AI algorithms and cloud computing. They're not going bankrupt anytime soon.

[Anonymous No.12129909]

>>12127033
>they will kill their billions just for their decentralization fetish
faggit traders are the hemorrhoids of crypto.

[Anonymous No.12129948]

>>12126982
It's chinkland so high manufacturing failure rates make total sense. Hope they burn into the ground

[Anonymous No.12129966]

>>12126927
>>12129021
>SV
>Finally some sanity
More like FINALLY SOME SANJEV

[Anonymous No.12129969]

>>12127264
feeling bullish about this

[Anonymous No.12129973]

>>12127033
Jihan is like 33 years old. He thinks hes untouchable. Young and stupid

[Anonymous No.12129990]

>>12127138
Only sensible post in the entire board.
Everyone that has half a functioning brain has already figured out.
BTC won't die, but won't reach past Ath.
BTC will not replace fiat but will remain an alternative for years to come.
Smartcontracts are the next bubble.
Roi will be better in ETH and Link (if they succeed)

[Anonymous No.12130025]

>>12129065

>simply shifting focus to AI cloud computing
>thinking it's that easy to just run a distributed AI network

In saying that, they could probably utilize a current blockchain project to do this, like DeepBrain Chain

[Anonymous No.12130095]

>>12128810
>see bcash disaster proving every proud core chad correct
>lmao

[Anonymous No.12130218]

>Irony
Oh in the end who were the real *cucks*. I always thought cashies had projection issues. But who would have known how correct I was.

[Anonymous No.12130237]

>>12126927
They fell for the HODL meme

[Anonymous No.12130318]

>>12126913

or a month tops

[Anonymous No.12130396]

>bankruptcy soon

The truth js market makers don't even need them with over 80% of coins already mined whales and institutions have plenty to go around to play the game without some Chink faggot wars and forks...
Also with their unfriendly carbon footprint they are a high priority and easy target for the global elite to ban them and damage Bitcoin.
Mining is dead as a viable concept

[Anonymous No.12130427]

>>12127033
Because they were trying to launch attacks on BTC with BCH.

[Anonymous No.12130569]

>>12127409

thanks

[Anonymous No.12130591]

>>12130427

>fork off from Bitcoin just months before a parabolic bullrun the likes never seen before
>purposfully attack your biggest investment while it's going up to try and fund your personal fork

These delusional ideologues are retarded. But if you are seriously invested in Bitcoin or bcash forks for money you should be weary of these types of ideologically driven fuckwits holding so much of these coins when they don't give a fuck about price.

[Anonymous No.12130779]

>>12130591
Well, they were trying to corner the market, it just didn't work. If cashies had waited until now they probably could've actually killed BTC. Oops. I mean, the fact that we always refer to Ver, Jihan etc. when talking about BCH speaks volumes about it.