Despite Bitmain releasing second quarter (Q2) earnings, dispelling the FUD (fear, uncertainty, and doubt) being spread by Samson Mow and others on social networks, there are still people working against Bitmain, and especially on Twitter. Quoting unnamed sources and insiders, they want to paint Bitmain’s status as if it is the end of the world; if that doesn’t work, they push fears of a “scam coin” Bitmain supports.
Bitmain FUD Rages On
Because Bitmain is the leading cryptocurrency mining hardware manufacturer, it is expected to be raged against. But after having presented their financial results for the Q2 of this year, blasting all records and posting wild earnings, and despite the bleak state of the cryptocurrency market, one would think naysayers would be silenced for good.
It turns out that this release had the opposite effect, and what it did was stir the minds of those already working against the company to put out yet more false and malicious statements, especially regarding Bitmain’s financial statements and product development.
Even after having launched a new revolutionary 7nm chip to be used in new cryptocurrency miners later this year, critics ignored this and called the launch fake, labeling it a vapor launch and intensifying the FUD.
Who and How?
The heaviest FUD around Bitmain is promoted by a Twitter account, BTCKING555. It appears to be an account only used for the purpose of commenting and criticizing Bitmain. The account was created in August, two months ago, and one of its first tweets was retweeted by none other than Samson Mow, Blockstream’s CSO.
BTCKING555 has spearheaded the attack on Bitmain from Twitter, making strange claims not supported by any source. Lately, the account has been making remarks about private meetings in Bitmain with the presence of Jihan Wu, Bitmain’s CEO.
This Tweet is typical of what the account is accustomed to doing daily on social networks. But there are certain things that do not add up. Our insider tells us that Jihan Wu is an extremely quiet and tranquil man, even to the point of his silence making meetings uncomfortable. So, if things are going south, it is highly unlikely Wu’s animation could be true in any way.
As seen in the above Tweets, the account has also started to accuse Jihan Wu of using his power and influence as CEO of Bitmain to start coercing cryptocurrency news outlets to not push unfavorable stories. Our sources also claimed that this is false, and that said articles were removed due to incomplete or demonstrably false claims.
What does the Bitcoin Core Establishment Fear?
It is really strange the focus that some people associated with Blockstream have on Bitmain and Jihan Wu, seeing as how their business models and interests do not overlap. Nonetheless, there is an odd vision of Bitmain as a sort of Bitcoin Cash Bank due to the support the company shows publicly to BCH.
Fear of Bitmain pushing Bitcoin Cash should not concern Blockstream. The BTC Core company has launched its new flagship project aimed at exchanges and institutions, The Liquid Network … which appears is their main product for the mainstream market.
In the meanwhile, Bitmain is not losing any time worrying about critics, and has already launched another A.I. groundbreaking product: the Sophon BM1880, its first tensor processor.
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