Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#1

Post by utopian3 » Tue, Dec 17, 2019, 8:30 PM UTC

Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up
bloomberg.com

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#2

Post by Zenst » Tue, Dec 17, 2019, 8:47 PM UTC

Seems more like a tactical lawsuit, if they win they kill of competition, if they lose - they end up delaying competition and in a market in which things move fast, it may well end up killing this competition.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#3

Post by aphextron » Tue, Dec 17, 2019, 9:20 PM UTC

Given that rule of law does not exist in China, it's safe to assume this is politically motivated. Who in the government wants him out of business, and why?

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#4

Post by bhouston » Tue, Dec 17, 2019, 9:21 PM UTC

aphextron wrote: post #3

Given that rule of law does not exist in China, it's safe to assume this is politically motivated. Who in the government wants him out of business, and why?

I do not know how it works in China, but could someone in the government be paid by Bitmain to care enough? In the US they call that move lobbying...

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#5

Post by solotronics » Tue, Dec 17, 2019, 9:32 PM UTC

There is rumor Bitmain (creaters of Antminer, see Ant Financial aka Alipay) was really owned by Jack Ma. Now everything that was Jack Ma is now owned by CCP I would bet Bitmain is the CCP.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#6

Post by blacksmith_tb » Tue, Dec 17, 2019, 9:44 PM UTC

bhouston wrote: post #4

aphextron wrote: post #3

Given that rule of law does not exist in China, it's safe to assume this is politically motivated. Who in the government wants him out of business, and why?

I do not know how it works in China, but could someone in the government be paid by Bitmain to care enough? In the US they call that move lobbying...

Lobbying in the US is a kind of corruption, but I don't think there's any way to lobby to have someone arrested, unless that's in slow motion, where you'd pay lobbyists to press for a law that could be used to arrest your opponent.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#7

Post by neonate » Tue, Dec 17, 2019, 9:54 PM UTC

https://outline.com/Ed7kVS

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#8

Post by PatrolX » Tue, Dec 17, 2019, 10:29 PM UTC

I can just see it now:

"Competition is bad, arrest him immediately!"

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#9

Post by datashow » Tue, Dec 17, 2019, 10:41 PM UTC

Also remember China does not have a real bail system. If you get arrested, you are very likely end up in prison directly. You also can be disappeared (better than be suicided) during the process.

Edit: No. I wasn't referring to the Epstein case.

Also, Chinese police has a habit of using force to rob the corpse of the victim from the family who want to send the corpse to the 3rd party for examination. For example: https://en.wikipedia.org/wiki/Shishou_incident

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#10

Post by cneurotic » Tue, Dec 17, 2019, 11:12 PM UTC

datashow wrote: post #9

Also remember China does not have a real bail system. If you get arrested, you are very likely end up in prison directly. You also can be disappeared (better than be suicided) during the process. Edit: No. I wasn't referring to the Epstein case. Also, Chinese police has a habit of using force to rob the corpse of the victim from the family who want to send the corpse to the 3rd party for examination. For example: htt…

Interesting note about bail, but can we just...not re: the Epstein references?