Quote from: rolling on November 12, 2017, 05:13:19 PM

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

They very clearly are.

And there's so much volume they could dump everything with barely a blip.

There's a very interesting interview with some Chinese miners on the World Crypto Network. Dunno if this is the right one - https://www.youtube.com/watch?v=fyZ-HlWFk78

The gist was that most Chinese miners don't know or care what they're mining. They don't understand anything. All they want is CNY.

If Mr. Wu can offer them more of that however briefly then they're going to take it. He doesn't have to own the hashing, just the opportunity to lure miners.

Quote from: rolling on November 12, 2017, 05:15:18 PM

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations.