Bitmain Chinese prepare an emergency plan against UASF (BIP148)
Bitmain's largest mining pool announced on their blog that they are preparing an emergency plan in case UASF (BIP148) is triggered on August 1st.!
If we ignore the technical details and the psychological suggestions, this can be translated into a simple language:
We at Bitmain sold many of our $ 500 BTC, as well as many client bots that we were able to draw on the digging contracts and which we paid back to BTC. We all invested in data centers and an elementary base to produce ASIC chips.
We are the guards of the block and we depend on its safety, and we barely reach 50% return. Of the contracts, we are even at a loss. Why have those who have only bought BTCs and nothing else contributed to the BTC ecosystem have a 500% return, and we barely reach 50%? We want the incomes that we deserve and we do not care if this will happen through higher charges for BTC translations or by downgrading the bitcoin against the dollar and the yuan!
"We want the incomes that we deserve and we do not care if this will happen through higher charges for BTC translations or by downgrading the bitcoin against the dollar and the yuan!"
I understand the emotional side of the argument, but isn't it obvious that if they sacrifice the competitiveness of bitcoin for their own short term gains, everyone will lose out in the long run?
By the way, I love how it makes sense to complain about 50% returns in crypto. This is really a special place =)