Post
Topic
Board Bitcoin Discussion
Merits 4 from 1 user
Re: Jihan Wu is no longer CEO of Bitmain
by
o_e_l_e_o
on 10/04/2019, 08:17:13 UTC
⭐ Merited by Foxpup (4)
Bitmain has tried many roadmaps to attempt to get rid of the big BCH bags, IPOs and whatnot included, I think they have no way out
It's a timebomb for BCH holders.

Bitmain are hemorrhaging money. Reports of a loss of billions of dollars last year, and they lay off half their staff. Bitmain also hold enough BCH to drop the price to zero - there's not enough liquidity in the market to even sell 5% of their coins. If they want to dump their bags, then BCH is dead. They know that though, which is why they've been slowly selling what they can while the price has steadily declined from 0.18 BTC a year ago down to 0.05 BTC today.

To own BCH is to completely trust Bitmain with the value of your coins.