IMO, It should be our top priority to highlight this and not let them get bailed out, without investors and the public knowing they made this big error.
Ladies and gentlemen.
Bitmain seems to have run out of cash reserves as they spent all their money on BCash. They spent 70% of there operating cashflow from 2016 to q1 2018 on BCash. They have $880m of bcash on the balance sheet and only $100m of USD
As a result they are desperate to be bailed out. They are raising money pre IPO and will then do an IPO
Helping bcash not only propped up that scam, but it also artificially prolonged the life of bad actors Bitmain so they can potentially IPO. Remember ASICBOOST and the Patent? I guess someone didn't. This is the Bitcoin equivalent of a Central Bank bailout of a failing company, that will now continue to drain resources and poison against Bitcoin. They should have been allowed to fail and liquidate. Then someone ethical would have bought them out and made them beneficial. https://twitter.com/Excellion/status/1028426579158884352?s=19
Helping bcash is unethical. In the long run, helping bcash will hurt many more people than if it is allowed to die now. Helping bcash means the confusion and propaganda spread by it's owners gets more life, and the tentacles of bcash in applications continue to exist. This is not a matter of “healthy competition”. “MIT anti-Bitcoin” ops...and no, contributing to Core is not a free pass to help bad actors. SHOCKING. https://medium.com/@coryfields/http-coryfields-com-cash-48a99b85aad4
Let's not forget that BCash devs wouldn't disclose a vuln to help us. https://twitter.com/Excellion/status/906843768103383045
@beautyon disclosing the bcash bug is an attempt of virtue signalling. Bcash is a scam and not a competitor to bitcoin. No prisoners should be taken in this 'civil war' because it is not a battle between ideologies as much as a war against plain and simple fraud.
If Roger discovered a bug like that in bitcoin we would have had a real bad day.
No one should treat Bcash as the "Verlorene Sohn" (lost son) asking for forgiveness, after he had wasted all his father's money while his brother stayed at home doing all the hard work to make a living.
Bcash was responsible for:
-purposefully spread misinformation/_lies_ and still does
-brand confusion/stealing attempt
-spamming the BTC NW to increase fee prices
-rigging the market with Coinbase's support
Now it _is_ the time to allow Btrash to die, period!