Post
Topic
Board Hardware
Re: KnCMiner declares bankruptcy due to increased competition, upcoming halving
by
The Avenger
on 27/05/2016, 23:44:48 UTC
This will cause a difficulty drop, and they probably squirreled away loads of mined BTC
About this time last year Scam Hole said they had 10-30,000 btc "squirreled away", which was no doubt a vast and deliberate underestimate
http://digital.di.se/artikel/bitcoinbrytarnas-dolda-skattgomma

Considering they have had so much VC money since then, it would not be surprising if they had this and MUCH more squirreled away now.

I guess they decided to dump the company with it's losses on the books, cash out their btc at $475 and onto their next criminal enterprise.

Or move their mining to another part of the world that is cheaper. Otherwise the VC's who invested in them would be in court trying to get their money back. So they must be in on the scam.