MULITBILLION USD SCAMALERT. Bitmains IPO is the biggest Crypto Scam ever. They are going to burn a lot of old economy investors who think they are buying shares from a crypto Mining Company. Truth is: These guys are buying 1 Million Shitcoins plus there core product (S9) is not a state of the art miner anymore and has lost 85% of its value in the last months! This will be a huge shitshow and I am afraid Jihan Wu is going to hurt the whole crypto eco system a lot when this shitballon bursts! #btc
@samourai_official So far the only walletmaker (i know) who understands the important values of bitcoin. Its not hard actually:
1.) be transparent/open source
2.) focus on security
3.) protect users privacy (= ensure/enable fugibility)
4.) Focus on #Bitcoin and not on satisfying as many different shitcoinholders as possible
5.) KISS - Keep it Simple Stupid
Spread the word and help others to understand whats important and how to store/use Bitcoint! Education is the key to mass adoption!
@dammkewl @mydogisahusky ...nice write-up of the Bitmain fuckup on medium:
“A BCH Update: Bitmain, BCH, the IPO & What it all Actually Means” @.CryptoHerpesCat https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3
Once one realizes that BTC is the only coin, everything in life becomes very clear.
For the last year I've been wondering who the hell is buying all those BCH that obviously nobody wants.
Now I know: it's Bitmain.
Having one entity own about a million of the tokens *is* a liability - especially since only 8 million ever moved after the fork. The fact that the unofficial 10% peg of BCH to BTC stopped being enforced right around the time Bitmain wants to IPO tells quite a story. They realized the hole they dug themselves into and want to unload on unwitting investors.
RTing ProfLastBattle on birdsite because it's important:
If youre valuing #bitmain based upon their assets held, you're in for a massive bagholding
1. No way bitmain can sell their $BCH. 5k sell in finex and price dumps 50%
2. 860,000 BCH X $550 != US$473MM. Its literally just $2,750,000. Dont fall for the financial engineering scam.
New Noded podcast: https://t.co/OSzDnbXtXG
RTing Trace Mayer on birdsite:
"Is there a looming @BITMAINtech balance sheet implosion? Becoming THE hodler of last resort for illiquid $BCH, only 8.4m moved, means buying about 12.5% of each active coin. Priced in $BTC, $BCH is down to 0.091. Indeed, an expensive game of chicken. 🐔 https://t.co/bGl0f0XxSO https://t.co/vbygNZKxLv "
Their upcoming IPO makes a lot more sense now.
They have been propping up bitcoin cash price by (1) requiring ASIC purchases to be made w/ bch (2) not selling the bch they earn (3) actively buying bch with btc and (4) protecting the chain from 51% attacks.
As a result, Bitmain currently has a ~$500M bag of ~1M bitcoin cash that they can't sell without cratering the price. Even just selling a fraction could spook the bch market.
The IPO is a way of 'selling it' without selling it.
RTing @excellion on birdsite:
"The Bitmain IPO is incredibly risky for any investor to buy into. The potential for massive losses are just around the corner as they have no idea how to maintain BCH, but are all-in. Play stupid games, win stupid prizes."
BTW there is a GREAT book called "Zen Guitar" that really helps. It costs about $3 for a used, decent condition paperback copy from a used book store. It applies to "life" too, not just guitar. Highly recommended.
In public Anarchists are regarded as antisocial, as a small group of never-wannabe-adults w/out any goal willing to achieve, a solitary pile/collection of bad behavior...
instead Anarchists are interacting like a tribe helping to build their members' different strengths, forming coalitions w/ other tribes, integrating/spreading knowledge for making/creating a better understanding of humanity!
No bloody, f#$*ing NW is banning @giacomozucco w/out consequences!
Anarchist. Bitcoin maximalist.
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