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

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

#11

Post by dmix »

PatrolX wrote: post #8

I can just see it now: "Competition is bad, arrest him immediately!"

There's a reason all of the big western companies left China.

I'd bet money China's economy could be growing 10x faster if it had independent courts and foreign companies who become successful weren't treated like criminals.

Just imagine how many of us would be moving to China to start companies and how much more VC money would be flowing in. And all of the global HQs and products and innovation that would be happening there.

China's growth has been massive but it's a shadow of what it could be. Their growth rate should have been closer to SK, Singapore, and Taiwan by now. But they decided to go backwards:

https://croakingcassandra.files.wordpress.com/2019/07/ip-1.p...

https://www.nextbigfuture.com/wp-content/uploads/2014/03/scr...

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

#12

Post by girvo »

cneurotic wrote: post #10
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?

I didn't even think it was an Epstein reference; the CCP has had a number of people "commit suicide" in a suspicious manner itself, well before the Epstein thing.

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

#13

Post by dman »

solotronics wrote: post #5

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.

Any pointers on why / how everything that was owned by Jack Ma is owned by CCP?

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

#14

Post by mperham »

solotronics wrote: post #5

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.

First Russia with nginx just a few days ago, now this.

I'm starting to think despotic regimes are bad.

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

#15

Post by lidHanteyk »

blacksmith_tb wrote: post #6
bhouston wrote: post #4

Earlier quoted context omitted.

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.

Lucky 10000: Lobbying in the USA is constitutionally-protected free speech. [0] It sure does feel corrupt, doesn't it? But it's part of the right to demand that the government listen to and consider our grievances. You can try lobbying today: Pick something that you care about, and write a letter about it to somebody in the government who represents you.

[0] https://en.wikipedia.org/wiki/Lobbying_in_the_United_States

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

#16

Post by Chris_Chambers »

cneurotic wrote: post #10
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?

Don’t flaunt your ignorance like this. Suiciding is a well documented phenomenon that has been going on for ages. Your ignorant belief that it only happened to one person ever is extremely cringey.

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

#17

Post by orf »

lidHanteyk wrote: post #15
blacksmith_tb wrote: post #6

Earlier quoted context omitted.

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.

Lucky 10000: Lobbying in the USA is constitutionally-protected free speech. [0] It sure does feel corrupt, doesn't it? But it's part of the right to demand that the government listen to and consider our grievances. You can try lobbying today: Pick something that you care about, and write a letter about it to somebody in the government who represents you. [0] https://en.wikipedia.org/wiki/Lobbying_in_the_United_States

“Dear constituent, after reading your carefully written letter and thinking long and hard about the merits of each position of this tricky issue I have decided to side with the people who donated the most to my re-election campaign. Thank you for writing to me, your voice has been heard”

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

#18

Post by zaptheimpaler »

dmix wrote: post #11
PatrolX wrote: post #8

I can just see it now: "Competition is bad, arrest him immediately!"

There's a reason all of the big western companies left China. I'd bet money China's economy could be growing 10x faster if it had independent courts and foreign companies who become successful weren't treated like criminals. Just imagine how many of us would be moving to China to start companies and how much more VC money would be flowing in. And all of the global HQs and products and innovation that would be happeni…

Having a bunch of US companies making profits in China isn't necessarily good for China.

If the choice is between, say letting AWS in and building their own. Building their own would put 5000 of their own people to work, the broad technical demographic it will take, and build up all the surrounding industries like servers, networking etc. All the profits stay within China, and they now have more skilled people who can start other companies etc. IMO its clearly a better long-term strategy, even though it will cost more in the short term.

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

#19

Post by ethbro »

dmix wrote: post #11
PatrolX wrote: post #8

I can just see it now: "Competition is bad, arrest him immediately!"

There's a reason all of the big western companies left China. I'd bet money China's economy could be growing 10x faster if it had independent courts and foreign companies who become successful weren't treated like criminals. Just imagine how many of us would be moving to China to start companies and how much more VC money would be flowing in. And all of the global HQs and products and innovation that would be happeni…

Would the leadership rather be absolute leaders of a slower-growing, still-globally-significant economy? Or lesser leaders of a faster-growing one?

I don't think the economic growth benefits outweigh their priorities.

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

#20

Post by ethbro »

orf wrote: post #17
lidHanteyk wrote: post #15

Earlier quoted context omitted.

Lucky 10000: Lobbying in the USA is constitutionally-protected free speech. [0] It sure does feel corrupt, doesn't it? But it's part of the right to demand that the government listen to and consider our grievances. You can try lobbying today: Pick something that you care about, and write a letter about it to somebody in the government who represents you. [0] https://en.wikipedia.org/wiki/Lobbying_in_the_United_States

“Dear constituent, after reading your carefully written letter and thinking long and hard about the merits of each position of this tricky issue I have decided to side with the people who donated the most to my re-election campaign. Thank you for writing to me, your voice has been heard”

Heard != acted on.

... But it also doesn't equal null.

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