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I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands

I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands submitted by Pandastratton to GoldandBlack [link] [comments]

I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands

I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands submitted by BTCNews to BTCNews [link] [comments]

I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands

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I'll Give You My Bitcoin When You Pry It From My Cold, Dead Hands – CoinDesk

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[uncensored-r/Bitcoin] They are going to have to pry these Bitcoins from my cold dead hands!

The following post by Crypto4L is being replicated because the post has been silently greylisted.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7qyjju
The original post's content was as follows:
https://i.redd.it/l5m7yi0t3ka01.jpg
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Now that BTC is going up, getting a lot of ads asking me to earn even more with interest-bearing platforms...

Now that BTC is going up, getting a lot of ads asking me to earn even more with interest-bearing platforms... submitted by BitAmp-Official to Bitcoin [link] [comments]

True Bitcoin Ownership Metrics

True Bitcoin ownership goes by a simple name in our world. Well at least if you believe in the mantra of not your keys, not your coins. It's simply referred to as the UTXO Set. The UTXO Set is the full list of the Transaction Outputs on the entire Bitcoin blockchain. These are basically how many addresses have bitcoin associated with them. Anyone running their own node can see how many UTXOs exist at anytime by looking at the UTXO Set.
Here's the incredible part: there's only 68 million UTXOs. 68 million! That means there are only a maximum of 68 million people who control the keys their bitcoin in a world of 7.5 billion! But of course we know the real amount is much lower than that when considering most exchanges have thousands if not millions of UTXOs, all the lost bitcoins, HD wallets etc.
We absolutely must prioritize the removal of our coins from all exchanges as quickly as possible. These exchanges have been invested in heavily by the banks years ago and they have their tentacles in as deep as possible and have been manipulating the USD price of bitcoin for years. They do so using other methods that have controlled other hard asset prices for decades. These manipulation tactics combine rehypothification, commingling, cash settled futures, OTC markets, along with coordinating the denial of access to exchanges when they start to lose control of the process momentarily.
Look, the banks are the competition to bitcoin. They run the world by creation of dollars which we all currently (directly or in directly) depend on as it is the world reserve currency. Every day we sell our labor and skills for dollars that they directly control the production and value of them. Meanwhile we live in a world where they have brainwashed people to believe that inflation by devaluing the currencies we sell ourselves for is a good thing! Thank God we now have a viable exit strategy with bitcoin! However the only way for the majority to pry the power away from the legacy financial system is to decide that we want to determine what the value of our time is rather than let them make us work longer and harder every year for less purchasing power.
And we can! Well that is if we accept that supply and demand truly determines value, then we must hold our Bitcoin keys individually for it to be valued for what it truly is - the world's first truly finite asset with properties that are superior to all previous SOVs before it and one that can be carried around in your brain!
This can absolutely be our peaceful revolution! One that would create a more just and civilized world for everyone. But in order to get there we have to collectively understand these few key concepts and must absolutely take the our keys out of the bankers hands! Spread the word and let the true peaceful revolution that is bitcoin truly begin to occupy Wall St!
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Ixinium

Ixinium
Ixinium bied transaksies in sekondes, ondersteun deur 100% versekerde werklike bates. Ixinium sal jou mark verander. terwyl Ixinium ‘n kliëntbeskermingsmeganisme het wat beter is as enige bank ter wêreld, bied Ixinium se gebruik van cryptocurrency ook waardevoordele vir alle gebruikers, terwyl volle waarde verseker word. Die agtergrond van Ixinium se visie is gebaseer op meer as 4 jaar van navorsing. In hierdie studie is die hoof fokus om die “hoekom” -vraag te vind rakende kliëntbeleggingsekuriteit, deursigtigheid vir kliënte, kliëntebeskerming en batewaarde struktuur agter die werklike produk.

https://preview.redd.it/3ttgu8r4fzq31.png?width=1126&format=png&auto=webp&s=3b775642d403d1613613bab6a3ddee12b24139b9
Hierdie studies toon aan dat in baie gevalle die woorde deursigtig en die sekuriteit van die kliënt se belegging ten volle gestel of nie eens dringend is nie. Na ‘n paar probleme het die Ixinium-projek begin om ‘n basiese struktuur te hê, wat van die mark ontbreek en hoe dit gewerk het.
WAAROM IS IXINIUM
Ixinium ICO word verkoop, 100% van die fondse word gebruik vir edelmetale om die prys van Ixinium XXA te ondersteun. Ixinium, Hybrid Crypto-Financial, terwyl Ixinium ‘n kliënt beskerming beskerming meganisme wat beter is as enige bank in die wêreld kan bied, met behulp van Ixinium cryptocurrency skep ook waarde voordele vir alle gebruikers, terwyl die volle waarde verseker.
Ixinium ICO bied die aankoms van XXA skeppings aan deur “drukwerk” en ondersteunende munte van edelmetale. Ixinium gebruik die IXAT-bate-toevoer-token om die waarde van fisiese edelmetale na XXA-digitale munte oor te dra. Die waarde van IXAT is 1: 1 tot $ 1.00. Oor die projek Hierdie projek hou verband met die finansiële wêreld genaamd Ixinium.
Ixinium is ‘n kriptografiese baster wat gebruik maak van beter kliëntbatebeskerming wat deur enige bank ter wêreld aangebied word. Die gebruik van Ixinium Currency Crypto skep ook voordele vir alle versekerde gebruikers met volle waarde. Kwessies Alhoewel dit nie goedgekeur is nie, word elke vordering gekonfronteer met sy eie uitdagings, sonder om ten volle te stem oor hul voornemens. Of omgekeerd, watter funksies is effektief een of twee jaar gelede, is tans nie meer relevant nie.
Ixinium is die oplossing vir alle probleme
Cryptocurrency word ondersteun deur edelmetale, blokgoedkeurings en transaksies wat geoudit kan word. Ouditkunde fisiese metale wat deursigtigheid vir almal ondersteun, die struktuur en die mark van bates 24/7, verseker deur die waarde van Lloyd se gewilligheid uit Londen, maak Ixinium veiliger as enige bank in die wêreld. Ons kan sê dat Ixinium die oplossing is.
Ixinium is die uiteindelike oplossing vir alle probleme
Cryptocurrency word ondersteun deur edelmetale, deursigtigheid en transaksies wat ondersoek kan word. ‘N Volledig deursigtige fisiese metaaloudit om almal te bewys, 24/7 bate struktuur en Ixinium se markwaarde, gewaarborg deur Lloyd London se bereidwilligheid om Ixinium veiliger te maak as enige bank in die wêreld, kan ons sê dat Ixinium die oplossing is. Goed vir fisiese bates: die waarde van Ixinium (XXA) is ten volle voorbehou, in teenstelling met fiat- of fiat-geldeenhede gebaseer op die sogenaamde stabiele geldeenhede (USDT, TUSD, USDC, GUSD, ens.).
Token inligting
Ixiniumsymbool: XXA
Ruil 1 XXA = $ 6.6525
Begindatum: 1 Oktober 2019
Einddatum: 30 Desember 2019
Min aankoop: 0, 05BTC, 0.1ETH, 1000 XLM
Konstruksie werkers: $ 5,005,341,000
Aanvaarbaar: BTC, ETH, XLM
Token verspreiding

https://preview.redd.it/u7wzid7ofzq31.png?width=964&format=png&auto=webp&s=ad2700b8c1896e1b9daaf51c9688f256b5315f04
Ixinium Verkoop ICO, 100% van die fondse word gebruik vir edelmetale om die prys van Ixinium XXA te ondersteun
ICO 1 Ronde: 1 Oktober tot 2019
1 XXA = $ 6.6525, bonus 5% -25%
‘n totaal van 189,000,000 XXA
ICO 2 Ronde: 1-2019 November
1 XXA = $ 7,5395 <60% -15% bonus
‘n totaal van 324,000,000 XXA
ICO 3 Ronde: 1 Desember 2019
1 XXA = $ 8.4265 <85% – 5% bonus
ten bedrae van 459,000,000 XXA
Die belangrikste element van Ixinium is
‘N Waarde van 100% is gebaseer op fisiese edelmetale.
Alle edele metale word omskep en beskerm.
Gee die waarde van die daaglikse openbare bate rekening aan.
Gaan publieke kwartaallikse rekeninge van eksterne partye na.
Alle edelmetale word 100% gewaarborg vir vervangingswaarde.
Volle waarde wat beskerming bied vir volwasse kliënte.
Ixinium markprys
Spesifikasies van Ixinium cryptocurrency:
Maksimum aanbod XXA 540,000,000 100,00%
Die maatskappy (gesluit vir 5 jaar) SS 26460’000
By 4,9%, die omvang van 10,000,000,000 1,85%
800,000 minimum verkoopprys van 0.15%
Begin finansiering rondom 2,740,000 0,51%
Mark sirkulasie 500,000,000 92,59%
Ixinium-prys van $ 8.87 (ongeveer)
Ixinium bates, 100% edelmetaal koepels in goud, silwer, palladium en platinum.
Mynbou en verspreiding van CRYPTOCURRENCY IXINIUM
Ixinium ICO bied vordering met die maak van XXA deur “drukwerk” en ondersteunende munte gemaak met fisiek waardevolle metaalballe te maak. Ixinium gebruik IXAT bate-toetoekennings om die fisiese waarde van edelmetale na XXA-digitale munte oor te dra. Die waarde van IXAT is 1: 1 tot $ 1.00.
Wanneer Ixinium edelmetale koop, word dieselfde hoeveelheid IXAT-tokens gemaak en oorgedra onder eienaarskap van XXA, omdat die edelmetaal die USD-waarde is wat pas gekoop is. In die IXAT-produksiekode het IXAT slegs een adres waar dit oorgedra kan word, adres XXA. Na IXAT-transaksies word IXAT outomaties gesluit onder eienaarskap van XXA. Daar is geen ander transaksies in die toekoms wat slegs toelaat dat IXAT oorgedra word nie.
IXAT dien as ‘n bate-gebaseerde beleggingsportefeulje. Die oorspronklike XXA-funksie, soos deel van die portefeulje en portefeulje waarde, kom van bates wat deur die portefeulje besit word. Op hierdie manier bring Ixinium fisiese edelmetale in digitale vorm. Elke IXAT-batetransaksie kan van blokke, sowel as fisiese edele metale, geverifieer word. Batewaardes word op die Ixinium-webwerf vertoon, waar daaglikse edelmetale daagliks opgedateer word en die prys van edelmetale word elke 10 minute opgedateer.
Ixinium het ‘n terugkeerfunksie wat gebou is om die basisprys en markprys van Ixinium (XXA) te verhoog. 75% van die Ixinium XXA wisselkoers inkomste word gebruik om meer waardevolle metale te koop en om die waarde van die Ixinium-crypto-munt te verhoog. Aangesien Ixinium XXA-munte in beperkte hoeveelhede vervaardig word, sal veranderinge in die produkmark altyd toeneem, wat ‘n voorraadbalans vir edelmetale tot gevolg sal hê.
Voordele verkry uit IXINIUM
Lae onbestendigheid in teenstelling met die meeste cryptocurrency. Vestig prestasiemeganismes om basiese waardes en markte te verbeter. Verpak met edelmetale, nie net een reël met ander kriptokurrency-kodes nie. Finansiering paradys produkte van ‘n veilige mark. Buitengewone waarde verhoog die effekte van die aandelemark en wêreldwye onrus.
  1. Aanvaar oor die hele wêreld
Ixinium word oral in die wêreld aanvaar.
  1. Gedecentraliseerde geld
En XXA word ondersteun deur 100% van die versekerde bates.
  1. Veilige en gemaklik
Jy kan veilig in die selfoon- of webportefeulje XXA stoor.
  1. Risiko vir lae inflasie
En wanneer XXA tokens geskep word met behulp van die Stellar Blockchain, is daar ‘n risiko van lae inflasie. Maklike betaling.
En XXA betalings is net ‘n kliek weg.
TIM

https://preview.redd.it/imqajhfffzq31.png?width=1280&format=png&auto=webp&s=a40ac4db8d68f09bd90bb0d715dd36e27c340e80
Padkaart
2014 Die finansiële struktuurplan vir versekeringsprodukte is 100% finansieel
2015 Strukturele Studies vir bankinstrumente, banke en fiat-geldeenheidsteun.
2016 omgewing en konnektiwiteitsontwikkeling van Bitcoin en Ethereum.
2017 Die eerste tegniese Ixinium uitleg met fisiese bates in die Ethereum netwerk.
2018 | Voltooi die tegniese uitleg van Ixinium en begin die finansieringsronde in die Ethereum-netwerk.
2019 | Tokens vir bates en eindprodukte in die Stellar-netwerk. Amptelike webwerf. Pre-ICO en ICO fases.
2020-2021 LBMA lidmaatskap aansoek
VIR MEER INLIGTING:
Website: http://ixinium.io/
Whitepaper: https://ixinium.io/whitepaper.pdf
Facebook: https://web.facebook.com/ixinium
Telegram: https://t.me/XXAofficial
My profiel: https://bitcointalk.org/index.php?action=profile;u=2636509
XLM: GBEH5KYHMNA6EDAIERSICQ6RFB4LCBXBFUWWEGRYGPMDQCTEEQIPW7PI
submitted by grichagvinya to u/grichagvinya [link] [comments]

The deepest report: Bitmain's self-help history

The deepest report: Bitmain's self-help history
The original intention of this article is to let readers understand the causes and consequences of Bitmain internal fighting, but after writing it, I found that it is not so much internal fighting as it is a long history of self-help.
The story is very long. Let's adjust the timeline to the eve of December 17, 2018. That was one of Bitmain's most critical moments and the beginning of a series of subsequent stories.
1. Self-immolation In September 2018, Bitmain's financial department warned management that the company's cash flow has become very tight and operating costs must be reduced to allow the company to continue. The blockchain unicorn, which is valued at more than 15 billion U.S. dollars, is crippled in the run and struggling to break the corner.
In 2017, Bitmain made a profit of 1 billion US dollars In the first half of 2018, Bitmain made a profit of 1 billion US dollars Three rounds of financing, a total of 800 million US dollars Net assets should exceed 3 billion U.S. dollars In September 2018, Bitmain had tight cash flow and was on the verge of bankruptcy
A simple comparison, it is not difficult to see that Bitmain's ability to make money is incredible, and its ability to burn money is even more extreme.
How does Bitmain burn money? Do you pour cash into gasoline and burn it, or hire a lot of employees to stuff the banknotes one by one into the shredder? The actual situation is closer to the latter.
The following data can help readers quickly learn Bitmain's money burning skills.
At the beginning of 2018, the entire cryptocurrency market has entered a bear market, but Bitmain's monthly operating costs have been rising wildly. Operating costs have risen from 10 million US dollars at the beginning of the year to 50 million US dollars at the end of the year.
Large-scale expansion of the R&D team is one of the main reasons. The HR who once worked at Bitmain revealed that the company once hired more than 50 employees a day and nearly 500 employees a month. Even so, it was criticized for its slow recruitment speed. The cash consumption in this area is approximately $250 million.
Operating costs are just the tip of the iceberg. Excessive chip trial production can become a classic case of project management courses. Readers who pay attention to Cryptocurrency mining can easily find that Bitmain is still working hard to clear the inventory of Antminer S9 in 2019. As the co-CEO, Ketuan Zhan did not listen to the advice or even warnings of the Finance Department, insisting on the implementation of Excessive chip trial production, resulting in a large accumulation of inventory and tight capital turnover. Another CEO, Jihan Wu, once revealed that the loss of Excessive chip trial production to the company was approximately US$1.5 billion.
Large-scale expansion of the R&D team is one of the main reasons. The HR who once worked at Bitmain revealed that the company once hired more than 50 employees a day and nearly 500 employees a month. Even so, it was criticized for its slow recruitment speed. The cash consumption in this area is approximately $250 million.
The BM1393 chip incident is even more incredible. Chip expert Ketuan Zhan invested a lot of money on a failed chip, and finally failed again. From 2017 to 2018, Bitmain has failed Trial production of mining machine chips at least 4 times, including 16nm, 12nm and 10nm chips, of which 16nm Trial production failed twice, thus losing at least US$1.2 billion.
It is rumored that Bitmain still holds a billion U.S. dollars worth of cryptocurrency in a state of floating loss. In view of the rebound in the market in 2020, we will not comment temporarily, waiting for the correct answer from the cryptocurrency market. But the losses pointed out in the previous article are all irreversible.
2. Sole power
In September 2018, Bitmain's management realized the seriousness of the problem. It turned out that the company's money could be squandered. As a result, the management began to discuss self-help plans, and the most reasonable and effective way was obviously to lay off employees.
The probation period for newly hired employees at Bitmain is half a year, and the probationary salary is 100% of the official salary, there is no difference. Once layoffs are made, new employees who have not passed the probationary period will be the main layoff targets. The department managed by Ketuan Zhan will face large-scale layoffs. The layoff plan is strongly opposed by Ketuan Zhan. Bitmain can only temporarily abandon the layoffs and replace it with continuous reductions. For marketing and travel expenses, a budget committee was established to strictly approve every expenditure. At the same time, employee benefits, such as reimbursement of taxi expenses, breakfast supply, snacks and drinks, etc., have also been abolished, and even the tradition of giving employees 400 yuan worth of BTC/BCH every month has been stopped.
In the face of huge cash flow pressure, trivial savings is obviously of no avail. Soon, the management again discussed the layoff plan, and it has reached the point where it has to be laid off.
In December 2018, Jihan Wu began to organize all entrepreneurial veterans and business backbones to persuade Ketuan Zhan to agree to layoffs, but Ketuan Zhan still insisted not to layoffs. The persuasion process was very unsuccessful. After many meetings and intense debates, Bitmain executives were caught in a dilemma of wasting time with Ketuan Zhan.
In this process, the shortcomings of the dual CEO system began to appear, and the relationship between the two CEOs gradually deteriorated.
On the night of December 16th, Ketuan Zhan reconvened the management meeting, and more than 30 managements who were present were asked to hand over their mobile phones. At this time, Jihan Wu was on a business trip in Hong Kong and was busy with listing related work.
In the meeting, Ketuan Zhan's core content was three items:
(1) Bitmain cannot have two CEOs, only one CEO and must be Ketuan Zhan. Ketuan Zhan said that he met an old leader during a business trip. He hadn't seen each other for many years. The old leader suggested that the company can only have one CEO, and it must be him. Ketuan Zhan feels that this is a kind of fate, an opportunity given by God.
(2) Ketuan Zhan believes that the company's cash flow problems, the biggest responsibility is the inability of the financial department. To prove his point, Ketuan Zhan announced Bitmain's financial data at the meeting. In the evening, employees in Taiwan began to post messages on social media, saying that the company's capital chain was broken and the top management was split.
(3) If Ketuan Zhan is not supported, the option will be cancelled and the equity will be voided.
Hearing about this, Jihan Wu, who lives in Hong Kong, sent a WeChat message to the management who are attending the meeting.

https://preview.redd.it/zkj2d44tqid51.jpg?width=1080&format=pjpg&auto=webp&s=9251c1f7308e155d7911d5969e71091a5ad5e14a
On the afternoon of December 17, 2018, Jihan Wu returned to Beijing to negotiate with Ketuan Zhan all night, and finally reached a consensus in the early morning. Bitmain co-founder Yuesheng Ge announced the results of the negotiations. Jihan Wu and Ketuan Zhan ceased to serve as CEOs, and Haichao Wang served as CEO. Jihan Wu voluntarily backed down and Ketuan Zhan served as chairman.
The "12.17 Incident" had a very bad impact on Bitmain, especially the disclosure of Bitmain's financial status, which caused vendors to start dunning. The loan that had just been negotiated with the Bank of Beijing was cancelled the next day. Jihan Wu's resignation as CEO caused an uproar in the industry, and it became a hot topic among Cryptocurrency mining, blockchain practitioners, and investor communities. The media focused their interpretation on Bitmain's series of incidents, and generally looked down upon its ongoing Hong Kong IPO, believing that the high-level changes had already signaled the failure of the IPO in advance.
On Christmas December 24, 2018, Bitmain finally began to implement the layoff plan. This long-delayed “correct decision” was achieved after a stalemate for nearly three months. The AI ​​teams in Beijing, Singapore, Taiwan, and Shanghai have laid off more than 50% of their employees. The Israeli R&D center was closed and Shenzhen New Species Technology Co., Ltd., which had been acquired for only ten months, was dissolved, and all employees were laid off. Copernicus, Bitmain's top blockchain development team, was not spared and was wiped out in this layoff. Copernicus and some of the laid-off employees joined the new company Matrixport co-founded by Jihan Wu and Yuesheng Ge, headquartered in Singapore.
3. Past events when starting a business
After the "12.17 Incident", Jihan Wu gradually faded out of Bitmain's management affairs and turned his attention to the IPO and new company. And this is one of Jihan Wu's major mistakes, he began to let Ketuan Zhan manage Bitmain alone.
In fact, as early as 2013, Jihan Wu planted hidden dangers.
Jihan Wu, an investment banker, was the earliest translator of the Bitcoin white paper. He began to get involved in the cryptocurrency mining industry in 2012. The disappearance of Kaomao and Nangua Zhang's ticket skipping led Jihan Wu to decide to develop his own chip.
In 2013, Jihan Wu established his own mining machine company. Together with Yuesheng Ge, who was only 20 years old, he found Ketuan Zhan, an integrated circuit designer of the Chinese Academy of Sciences, to create the protagonist of this article, and later the digital Cryptocurrency mining giant, Bitmain.
Jihan Wu promised Ketuan Zhan that every time a mining machine chip was successfully developed, he would give some shares to the Ketuan Zhan team. At that time, the company founded by Ketuan Zhan was on the eve of falling apart. In order to regroup the team, Ketuan Zhan promised to share half of his shares with the team members. Unfortunately, this is just a bad check. With the rapid development of Bitmain and higher and higher valuations, the expanding Ketuan Zhan almost monopolized all the shares.
Like many startups, Bitmain encountered many difficulties in its early days, and many jobs had to be done by the boss. For example, in the chip design and production process in the second half of 2013, Bitmain was caught in a dilemma of insufficient funds. Jihan Wu personally raised funds and met with TSMC’s sales to persuade TSMC to accept the production needs of a start-up company. Jihan Wu also participated in the selection of the thermodynamic parameters of the heat sink in the Antminer S1.
In 2014, Jihan Wu discovered that this company was independently operated by Ketuan Zhan, which had huge problems. Forcing Jihan Wu to continue to participate in company management.
At that time, Bitmain's mining machine chips had just achieved a certain lead in the standard design process. Jihan Wu believes that the next step must be to develop full customization technology, but Ketuan Zhan plans to invest resources in the research of mobile payment chips.
Ketuan Zhan met a mysterious person from the Party Central Security Bureau who claimed to be able to manipulate the Party Central Committee’s decision-making process for the next generation of mobile payment cryptography standards, but this direction is likely to lead to the fact that Bitmain has just gained the lead in the mining machine market. Regained.
Jihan Wu said that as a graduate of the School of Economics, with a little memory of his high school stage and the knowledge reserve of a computer technology amateur, he retrieves various materials and papers every day, learns theories related to full customization, and goes to Ketuan Zhan conducts persuasion work there.
Fortunately, in the direction of full customization technology, Ketuan Zhan finally listened to Jihan Wu's opinion. Bitmain quickly integrated the technical experts from the United States and Russia introduced by Jihan Wu, which greatly improved the design level of chips and complete machines.
In 2015, Jihan Wu suggested that Ketuan Zhan consider the direction of artificial intelligence. But Ketuan Zhan is not here, he prefers the CPU direction. After staying asleep at night, coupled with in-depth analysis by the Bitmain investment team, Ketuan Zhan finally agreed with this direction. It is a pity that after the Tianshi Chen brothers made major breakthroughs in theory and practice, Bitmain officially invested in the relevant direction, and it was still a step behind.
In the two years from 2016 to 2017, Bitmain's business performance has achieved rapid development, becoming a unique super unicorn in the blockchain industry. According to Froth & Sullivan, in 2017, Bitmain Technology Holdings was the second largest fabless chip design company in China and the tenth largest fabless chip design company in the world, and the fourth largest fabless ASIC chip design company in the world, accounting for 74.5% of global cryptocurrency market share.
However, the huge crisis has long been buried in the early days of entrepreneurship.
Ketuan Zhan's decision on major directions revealed his weakness of extremely lack of business understanding. But every mistake he made was blocked by the company's core employees. His overconfidence in his management ability led to the gradual intensification of conflicts, and the management differences between the two founders became more serious.
4.The giant gets lost
The contradiction between the two broke out on December 17, 2018. Ketuan Zhan used extreme means to force the management to compromise with him by canceling the option, so as to achieve the goal of sole control of the company. Jihan Wu returned to Beijing from Hong Kong overnight and negotiated with Ketuan Zhan all night. In the end, the two resigned as CEO. Jihan Wu retired. Ketuan Zhan has the exclusive rights of chairman in exchange for the implementation of the layoff plan.
Jihan Wu's voluntary retreat has intensified Ketuan Zhan's management to do whatever he wants.
A Bitmain employee commented on Ketuan Zhan's management skills, summed up in two letters-SM.
After becoming the sole helm of the company, Ketuan Zhan quickly "rectified" the department in charge of Jihan Wu as the chairman of the board. He guided the sales of mining machines at the dinner, and pointed out that the sales performance is not due to the sales staff. Ability is strong, but the company provides opportunities. Take two sales leaders as examples, saying that if the company hadn't given the opportunity, they would still be losers. In addition, Ketuan Zhan also instructed the sales staff on how to toast and imparted the wine table culture and experience.
After the meal, Ketuan Zhan came to the conclusion that the quality of Bitmain sales staff was too poor, and Huawei’s blood needs to be injected to drive the company’s progress. Soon, the marketing and sales director from Huawei officially took over Bitmain, opening the era of brand premium for Antminer.
In order to further understand and guide the sales work, Ketuan Zhan asked to meet the customers with the sales staff. During the negotiation process, Ketuan Zhan had a heated discussion with customers on the issue of Chinese and Western medicine, and had also forced the sales staff to be able to ship 10,000 machines due to insufficient production capacity.
Although the requirements for sales personnel are strict, Ketuan Zhan has provided a lot of convenience for "Mainland Ark". In addition to selling mining machines at a more favorable price, Bitmain's mining machines are also hosted in Ming Wang at a higher price than the market price. Mine. It is reported that both Ketuan Zhan and Ming Wang are shareholders of Ark.
The new sales strategy of Huawei's executives has also brought very obvious changes to Bitmain. The self-righteous brand premium reduces the price-performance ratio of Antminer, causing competing products to eat away at Bitmain's market share. Later, Bitmain found that the strategy was wrong and started to cut prices, and found that the mining machine market was saturated and the purchase demand of miners had decreased.
More dangerous than the sales strategy is that the technical advantages of Antminer are being chased by competing products, and even overtaken. At the same time, the two mining pools under Bitmain also lost their first and second positions. The AI ​​business, which Jihan Wu placed high hopes and Ketuan Zhan personally supervised, became a laughing stock in the industry. Not only did it fail to make a profit, it almost brought down Bitmain.
Blindly introducing senior executives from Huawei to occupy important positions completely destroys the company's internal cultural foundation. The bureaucracy within Bitmain began to corrode from high-level employees to ordinary employees. Ketuan Zhan is not aware of this. He is still keen on recruiting Huawei employees, imitating Huawei's organizational structure and strategy, letting HR do sales and R&D personnel to do HR.
The organizational structure adjustment in October 2019 was the fuse for Ketuan Zhan to completely anger Bitmain management. This time, Ketuan Zhan completely marginalized Bitmain’s veteran employees, and suddenly promoted some of the “airborne soldiers” who had just joined the company to the position of person in charge, which caused the former person in charge to report to the new employees. The two managers who were originally equal The hierarchy becomes the subordinate relationship, the operation and development of different business lines are merged into a large department, the upward reporting process becomes more cumbersome, and the relationship between employees becomes delicate.
5. Headwind
On October 29, 2019, Jihan Wu urgently held a staff meeting. Prior to this, the legal representative of Beijing Bitmain has been changed to Jihan Wu, including the parent companies Hong Kong Bitmain and Cayman Bitmain. Jihan Wu stood in the lobby of Building 25, B1, announcing that Ketuan Zhan has been relieved of all duties. Any employee in the Bitmain Group shall no longer execute Ketuan Zhan’s instructions and participate in any meetings convened by Ketuan Zhan. If there is any violation, the company will demotion and expel the company based on the severity of the circumstances. If losses are caused to the company, the company will be held accountable.
Jihan Wu's speech is very long, which can be summarized as follows:
(1) Ketuan Zhan has been relieved of all duties. Also expelled from the original Huawei company HR Zhi Wang introduced by Ketuan Zhan at the end of 2018. Zhi Wang’s reputation on Bitmain was extremely poor and was ridiculed by employees as "nine thousand years" (In ancient China, the emperor was called "ten thousand years old", and the prince was "eight thousand years old." However, in the Ming Dynasty, there was an eunuch who caused harm to the country and the people. He called himself "nine thousand years old", meaning that he was only A little lower than the emperor's level).
(2) Ketuan Zhan's ability to control the company's option incentive plan has disappeared, and it is no longer possible to cancel employees' options at will.
(3) The organizational structure adjustment plan led by Ketuan Zhan was suspended.
(4) We are optimistic about the future of AI business, but the premise is that the main business can continue to make profits in order to support the company's continued investment in AI business.
In the speech, Jihan Wu also told employees the whole story of the "12.17 Incident" and bluntly said that the company is not in good condition. If no measures are taken, Bitmain is likely to go bankrupt in three quarters and he must come back to save the company.
At this time, Ketuan Zhan, who was on a business trip in Shenzhen, finally experienced the situation of Jihan Wu in the "12.17 Incident".
After the official return, Jihan Wu began to clearly point out the company's various problems in operation and management, and went deep into each business line to understand the situation. In the mining machine sales department meeting, employees spoke enthusiastically, reflecting on the difficulties and opinions encountered in the work, the marketing and sales director from Huawei asked with a surprised look, "Why didn't these issues be reported to me before?", and soon , The director was interviewed and "voluntarily resigned."
On November 2, 2019, Jihan Wu announced a salary increase for all employees. Bitmain’s last salary increase dates back to 2018. In principle, Bitmain has two salary increases every year.
On November 7, 2019, Ketuan Zhan spoke on social media for the first time, describing his hardship in starting a business, and condemning Jihan Wu for “stabbing a knife in the back”. At the end of the article, he also set himself a KPI for 2020, that is, the mining machine market share will reach 90%, and the AI ​​business will earn 1 billion.
But Ketuan Zhan's majestic plan did not make Bitmain employees feel emotional, but ridiculed him instead. Employees exposed that he insulted employees, advocated Chinese medicine, believed in Buddhism, drank in meetings, practiced Qigong...
However, there is less than half a year before the halving of Bitcoin production, and the cryptocurrency market shows no signs of recovery, which makes Bitmain management very anxious.
On January 6, 2020, Bitmain ushered in another round of layoffs, with a layoff ratio of about 1/3. This time the layoffs have caused many employees who have just increased their salaries to feel very grieved. On the one hand, they were looking forward to Jihan Wu's return. On the other hand, the compensation for this layoff was less than 18 years.
Ketuan Zhan, who has been unable to enter the Bitmain office area, once again spoke on social media and firmly opposed to layoffs. We do not need to lay off staff and we cannot commit suicide.
During the Spring Festival, Covid-19 broke out. Mainland China has begun to extend the Spring Festival holiday and advocate working from home. Under the chain reaction caused by Covid-19, most companies have chosen to cut salaries or even lay off employees. In the first two months of 2020, China's exports fell by 17%, U.S. stocks were broken four times in a row, Bitcoin plunged 40% in 24 hours on March 12, 2020, and crude oil futures fell by 300% on April 20, 2020...
Obviously, Jihan Wu can't predict, but this layoff seems to be the right decision again. In addition, from January to April 2020, Bitmain's revenue exceeded US$400 million amid the spread of Covid-19 and the collapse of the financial market.
6. Fight to the death
When Jihan Wu tried to get the company back on track, Ketuan Zhan was not helpless. On April 28, 2020, Ketuan Zhan finally rolled back the legal representative of Beijing Bitmain to before October 28, 2019 by repeatedly submitting administrative reconsiderations, and restored his status as a legal representative.
On the morning of May 8, 2020, a piece of news about Bitmain quickly appeared on the real-time hot search rankings, and even dominated the headlines of the day. At window 52 on the second floor of the Haidian District Government Affairs Center, when Ketuan Zhan, the legal person of Beijing Bitmain Company, was receiving the business license, a group of unidentified people snatched the business license from the industrial and commercial administrative staff. A source at the scene said that the number of unidentified people in the group was about 60 people, of which Luyao Liu was directing at the scene.
This is a skillful piece of news. It first leads readers to think that Ketuan Zhan is a victim, using 60 people to grab business licenses as the focus. The masses accused Jihan Wu of lawlessness, but ignored whether the government affairs center could have 60 personnel. As for Hong Kong Bitmain to have the right to appoint a representative to obtain a business license, this is a deeper level of thinking.
The follow-up report restored the real situation at the scene. Only more than ten people were present, and both sides were equipped with security personnel. Bitmain employees also broke the news in the circle of friends, claiming that Ketuan Zhan's bodyguard had injured Bitmain's authorized person, and said in a threatening tone, "Be careful!"
However, the subsequent plot reversal did not have much effect. Jihan Wu's reputation has been greatly affected. From a bloody soldier who rescued the company in trouble to a lawless criminal, it can be said to be a world of war. do not.
Ketuan Zhan, who succeeded in the first battle, began to counterattack Bitmain continuously. On the afternoon of June 3, 2020, Ketuan Zhan led a team to pry open the back door of the Beijing Bitmain office and formally occupied the deserted Beijing headquarters.
On June 4, 2020, Ketuan Zhan called on Bitmain employees to resume work and promised to expand the company's market value to more than US$50 billion within three to five years. After that, Ketuan Zhan began to contact employees by phone, trying to acquire the options in the hands of employees at a valuation of 4 billion US dollars.
Subsequently, Ketuan Zhan recalled Huawei's executives and issued a series of personnel appointments and removals. As of June 9, 2020, Ketuan Zhan has successively eliminated CFO Luyao Liu, and Wenguang Wang, the head of the mining center. Luyao Liu is responsible for controlling Bitmain's IPO plan. He also appointed Yanwu Ma as the HR director, Gang Ren as the head of the mining center, Yonggang Sun as the head of the supply chain, Ling Gu as the financial director, and Bin Zhu as the head of the mining machine business department. Bin Zhu is the senior executive of Huawei who was interviewed and left as mentioned in the previous article. During his tenure, he reduced Antminer’s 90% market share to 50%, and received a large number of complaints from miners. Internal employees once speculated that he might be Compete against the spies sent by the company.
In addition to recalling senior executives of Huawei, Ketuan Zhan also urged employees to return to work. They can receive a bonus of 10,000 yuan when they return to work on the same day, which is only half the next day. Ketuan Zhan showed a very kind side. Every time the elevator door is opened, Ketuan Zhan's hot gaze can be met, shaking hands, taking photos, and receiving money. As there is no personnel information, Ketuan Zhan does not know whether the person receiving the money is a Bitmain employee, and these people did not resume work the next day.
The effect of gentleness was not good, Ketuan Zhan began to force employees to return to work. Seeing that there are still very few respondents, Ketuan Zhan threatened employees through SMS, phone calls, EMS, emails and other harassment, issued multiple threats such as termination of contract, suspension of payment of social insurance, suspension of wages, and even used personal information saved by employees to form a group of employees. Domicile threats, requiring employees to perform "work handover", trying to force employees to return work computers, etc.
On June 10, 2020, the media revealed that Ketuan Zhan had controlled Bitmain's Shenzhen factory and prohibited employees from delivering normal shipments to paid customers, which caused difficulties in the operation of the Bitmain mining machine department.
On June 13, 2020, Hong Kong Bitmain, the parent company of Beijing Bitmain, issued a statement accusing Ketuan Zhan of signing a "Sales Agency Agreement" with the Ark Data Technology Co., Ltd. in which it holds shares, in an attempt to embezzle Beijing Bit's assets.
On June 17, 2020, the media revealed that Ketuan Zhan started selling 14,000 T17+ series mining machines at low prices.
On June 20, 2020, Hong Kong Bitmain officially suspended the supply of chips to the Shenzhen factory.
On July 13, 2020, in the "A Letter to All My colleagues in the Shenzhen Factory" released by Bitmain in Hong Kong, more details were added on the series of Ketuan Zhan's actions in June.
The legal person Feng Zhou of the Shenzhen plant is related to Ketuan Zhan. After being relieved of Ketuan Zhan's post, Jihan Wu flew to Shenzhen to have a long talk with Feng Zhou. Jihan Wu believes that Feng Zhou is the right person to manage the factory and help the company overcome difficulties, and decides to leave Feng Zhou to continue to manage the factory.
This wrong decision staged a story of a farmer and a snake. When Ketuan Zhan began to counterattack Bitmain, Feng Zhou was also quickly instigated and began to assist Ketuan Zhan in seizing customer machines and transferring 17,000 T17 mining machines in the warehouse. Hainan Continental Ark Data Technology Co., Ltd., which is held by Ketuan Zhan, sold them at a low price.
In order to protect the interests of customers, Jihan Wu had to make a compromise and paid the payment for some goods to a bank account controlled by Ketuan Zhan in exchange for delivery. However, after the other party received a payment of 109 million, the delivery stopped. On July 8, 2020, 5600 mining machines have been overdue.
At the same time, the factory defaulted on suppliers’ accounts payable as much as 200 million yuan. Bank acceptance bills issued by the factory, exceeding 36 million yuan, will expire on July 17, and more than 34 million yuan will expire on July 23. It is understood that Ketuan Zhan, after receiving the bank's dunning call, made it clear that he would not repay the loan, which would destroy the company and the entire group's credit in financial institutions.
7、 This is not the end
So far, the power struggle between the founders of Bitmain has been more than half a year. The office building already occupied by Ketuan Zhan is still empty, and most employees choose to work from home. Some chip developers returned to the office with the acquiescence of Jihan Wu and continued to maintain research and development to reduce the impact of infighting on technological iteration and competitiveness.
This giant ship that once stood on top of the supercomputer chip is crashing into the iceberg due to the madness of the former helm. Ketuan Zhan's madness and Jihan Wu's compromise made mistakes again and again. Bitmain tried to save himself many times, but was unable to get out of the black hole.
If the time goes back to that day in 2013, would Jihan Wu and Yuesheng Ge still choose to dial Ketuan Zhan?
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The deepest report: Bitmain's self-help history

The deepest report: Bitmain's self-help history
The original intention of this article is to let readers understand the causes and consequences of Bitmain internal fighting, but after writing it, I found that it is not so much internal fighting as it is a long history of self-help.
The story is very long. Let's adjust the timeline to the eve of December 17, 2018. That was one of Bitmain's most critical moments and the beginning of a series of subsequent stories.
1. Self-immolation In September 2018, Bitmain's financial department warned management that the company's cash flow has become very tight and operating costs must be reduced to allow the company to continue. The blockchain unicorn, which is valued at more than 15 billion U.S. dollars, is crippled in the run and struggling to break the corner.
In 2017, Bitmain made a profit of 1 billion US dollars In the first half of 2018, Bitmain made a profit of 1 billion US dollars Three rounds of financing, a total of 800 million US dollars Net assets should exceed 3 billion U.S. dollars In September 2018, Bitmain had tight cash flow and was on the verge of bankruptcy
A simple comparison, it is not difficult to see that Bitmain's ability to make money is incredible, and its ability to burn money is even more extreme.
How does Bitmain burn money? Do you pour cash into gasoline and burn it, or hire a lot of employees to stuff the banknotes one by one into the shredder? The actual situation is closer to the latter.
The following data can help readers quickly learn Bitmain's money burning skills.
At the beginning of 2018, the entire cryptocurrency market has entered a bear market, but Bitmain's monthly operating costs have been rising wildly. Operating costs have risen from 10 million US dollars at the beginning of the year to 50 million US dollars at the end of the year.
Large-scale expansion of the R&D team is one of the main reasons. The HR who once worked at Bitmain revealed that the company once hired more than 50 employees a day and nearly 500 employees a month. Even so, it was criticized for its slow recruitment speed. The cash consumption in this area is approximately $250 million.
Operating costs are just the tip of the iceberg. Excessive chip trial production can become a classic case of project management courses. Readers who pay attention to Cryptocurrency mining can easily find that Bitmain is still working hard to clear the inventory of Antminer S9 in 2019. As the co-CEO, Ketuan Zhan did not listen to the advice or even warnings of the Finance Department, insisting on the implementation of Excessive chip trial production, resulting in a large accumulation of inventory and tight capital turnover. Another CEO, Jihan Wu, once revealed that the loss of Excessive chip trial production to the company was approximately US$1.5 billion.
Large-scale expansion of the R&D team is one of the main reasons. The HR who once worked at Bitmain revealed that the company once hired more than 50 employees a day and nearly 500 employees a month. Even so, it was criticized for its slow recruitment speed. The cash consumption in this area is approximately $250 million.
The BM1393 chip incident is even more incredible. Chip expert Ketuan Zhan invested a lot of money on a failed chip, and finally failed again. From 2017 to 2018, Bitmain has failed Trial production of mining machine chips at least 4 times, including 16nm, 12nm and 10nm chips, of which 16nm Trial production failed twice, thus losing at least US$1.2 billion.
It is rumored that Bitmain still holds a billion U.S. dollars worth of cryptocurrency in a state of floating loss. In view of the rebound in the market in 2020, we will not comment temporarily, waiting for the correct answer from the cryptocurrency market. But the losses pointed out in the previous article are all irreversible.
2. Sole power
In September 2018, Bitmain's management realized the seriousness of the problem. It turned out that the company's money could be squandered. As a result, the management began to discuss self-help plans, and the most reasonable and effective way was obviously to lay off employees.
The probation period for newly hired employees at Bitmain is half a year, and the probationary salary is 100% of the official salary, there is no difference. Once layoffs are made, new employees who have not passed the probationary period will be the main layoff targets. The department managed by Ketuan Zhan will face large-scale layoffs. The layoff plan is strongly opposed by Ketuan Zhan. Bitmain can only temporarily abandon the layoffs and replace it with continuous reductions. For marketing and travel expenses, a budget committee was established to strictly approve every expenditure. At the same time, employee benefits, such as reimbursement of taxi expenses, breakfast supply, snacks and drinks, etc., have also been abolished, and even the tradition of giving employees 400 yuan worth of BTC/BCH every month has been stopped.
In the face of huge cash flow pressure, trivial savings is obviously of no avail. Soon, the management again discussed the layoff plan, and it has reached the point where it has to be laid off.
In December 2018, Jihan Wu began to organize all entrepreneurial veterans and business backbones to persuade Ketuan Zhan to agree to layoffs, but Ketuan Zhan still insisted not to layoffs. The persuasion process was very unsuccessful. After many meetings and intense debates, Bitmain executives were caught in a dilemma of wasting time with Ketuan Zhan.
In this process, the shortcomings of the dual CEO system began to appear, and the relationship between the two CEOs gradually deteriorated.
On the night of December 16th, Ketuan Zhan reconvened the management meeting, and more than 30 managements who were present were asked to hand over their mobile phones. At this time, Jihan Wu was on a business trip in Hong Kong and was busy with listing related work.
In the meeting, Ketuan Zhan's core content was three items:
(1) Bitmain cannot have two CEOs, only one CEO and must be Ketuan Zhan. Ketuan Zhan said that he met an old leader during a business trip. He hadn't seen each other for many years. The old leader suggested that the company can only have one CEO, and it must be him. Ketuan Zhan feels that this is a kind of fate, an opportunity given by God.
(2) Ketuan Zhan believes that the company's cash flow problems, the biggest responsibility is the inability of the financial department. To prove his point, Ketuan Zhan announced Bitmain's financial data at the meeting. In the evening, employees in Taiwan began to post messages on social media, saying that the company's capital chain was broken and the top management was split.
(3) If Ketuan Zhan is not supported, the option will be cancelled and the equity will be voided.
Hearing about this, Jihan Wu, who lives in Hong Kong, sent a WeChat message to the management who are attending the meeting.

https://preview.redd.it/c5cxea2lqid51.jpg?width=1080&format=pjpg&auto=webp&s=3d6a0388408f6b8abe10648e5e4b7a3a5434c821
On the afternoon of December 17, 2018, Jihan Wu returned to Beijing to negotiate with Ketuan Zhan all night, and finally reached a consensus in the early morning. Bitmain co-founder Yuesheng Ge announced the results of the negotiations. Jihan Wu and Ketuan Zhan ceased to serve as CEOs, and Haichao Wang served as CEO. Jihan Wu voluntarily backed down and Ketuan Zhan served as chairman.
The "12.17 Incident" had a very bad impact on Bitmain, especially the disclosure of Bitmain's financial status, which caused vendors to start dunning. The loan that had just been negotiated with the Bank of Beijing was cancelled the next day. Jihan Wu's resignation as CEO caused an uproar in the industry, and it became a hot topic among Cryptocurrency mining, blockchain practitioners, and investor communities. The media focused their interpretation on Bitmain's series of incidents, and generally looked down upon its ongoing Hong Kong IPO, believing that the high-level changes had already signaled the failure of the IPO in advance.
On Christmas December 24, 2018, Bitmain finally began to implement the layoff plan. This long-delayed “correct decision” was achieved after a stalemate for nearly three months. The AI ​​teams in Beijing, Singapore, Taiwan, and Shanghai have laid off more than 50% of their employees. The Israeli R&D center was closed and Shenzhen New Species Technology Co., Ltd., which had been acquired for only ten months, was dissolved, and all employees were laid off. Copernicus, Bitmain's top blockchain development team, was not spared and was wiped out in this layoff. Copernicus and some of the laid-off employees joined the new company Matrixport co-founded by Jihan Wu and Yuesheng Ge, headquartered in Singapore.
3. Past events when starting a business
After the "12.17 Incident", Jihan Wu gradually faded out of Bitmain's management affairs and turned his attention to the IPO and new company. And this is one of Jihan Wu's major mistakes, he began to let Ketuan Zhan manage Bitmain alone.
In fact, as early as 2013, Jihan Wu planted hidden dangers.
Jihan Wu, an investment banker, was the earliest translator of the Bitcoin white paper. He began to get involved in the cryptocurrency mining industry in 2012. The disappearance of Kaomao and Nangua Zhang's ticket skipping led Jihan Wu to decide to develop his own chip.
In 2013, Jihan Wu established his own mining machine company. Together with Yuesheng Ge, who was only 20 years old, he found Ketuan Zhan, an integrated circuit designer of the Chinese Academy of Sciences, to create the protagonist of this article, and later the digital Cryptocurrency mining giant, Bitmain.
Jihan Wu promised Ketuan Zhan that every time a mining machine chip was successfully developed, he would give some shares to the Ketuan Zhan team. At that time, the company founded by Ketuan Zhan was on the eve of falling apart. In order to regroup the team, Ketuan Zhan promised to share half of his shares with the team members. Unfortunately, this is just a bad check. With the rapid development of Bitmain and higher and higher valuations, the expanding Ketuan Zhan almost monopolized all the shares.
Like many startups, Bitmain encountered many difficulties in its early days, and many jobs had to be done by the boss. For example, in the chip design and production process in the second half of 2013, Bitmain was caught in a dilemma of insufficient funds. Jihan Wu personally raised funds and met with TSMC’s sales to persuade TSMC to accept the production needs of a start-up company. Jihan Wu also participated in the selection of the thermodynamic parameters of the heat sink in the Antminer S1.
In 2014, Jihan Wu discovered that this company was independently operated by Ketuan Zhan, which had huge problems. Forcing Jihan Wu to continue to participate in company management.
At that time, Bitmain's mining machine chips had just achieved a certain lead in the standard design process. Jihan Wu believes that the next step must be to develop full customization technology, but Ketuan Zhan plans to invest resources in the research of mobile payment chips.
Ketuan Zhan met a mysterious person from the Party Central Security Bureau who claimed to be able to manipulate the Party Central Committee’s decision-making process for the next generation of mobile payment cryptography standards, but this direction is likely to lead to the fact that Bitmain has just gained the lead in the mining machine market. Regained.
Jihan Wu said that as a graduate of the School of Economics, with a little memory of his high school stage and the knowledge reserve of a computer technology amateur, he retrieves various materials and papers every day, learns theories related to full customization, and goes to Ketuan Zhan conducts persuasion work there.
Fortunately, in the direction of full customization technology, Ketuan Zhan finally listened to Jihan Wu's opinion. Bitmain quickly integrated the technical experts from the United States and Russia introduced by Jihan Wu, which greatly improved the design level of chips and complete machines.
In 2015, Jihan Wu suggested that Ketuan Zhan consider the direction of artificial intelligence. But Ketuan Zhan is not here, he prefers the CPU direction. After staying asleep at night, coupled with in-depth analysis by the Bitmain investment team, Ketuan Zhan finally agreed with this direction. It is a pity that after the Tianshi Chen brothers made major breakthroughs in theory and practice, Bitmain officially invested in the relevant direction, and it was still a step behind.
In the two years from 2016 to 2017, Bitmain's business performance has achieved rapid development, becoming a unique super unicorn in the blockchain industry. According to Froth & Sullivan, in 2017, Bitmain Technology Holdings was the second largest fabless chip design company in China and the tenth largest fabless chip design company in the world, and the fourth largest fabless ASIC chip design company in the world, accounting for 74.5% of global cryptocurrency market share.
However, the huge crisis has long been buried in the early days of entrepreneurship.
Ketuan Zhan's decision on major directions revealed his weakness of extremely lack of business understanding. But every mistake he made was blocked by the company's core employees. His overconfidence in his management ability led to the gradual intensification of conflicts, and the management differences between the two founders became more serious.
4.The giant gets lost
The contradiction between the two broke out on December 17, 2018. Ketuan Zhan used extreme means to force the management to compromise with him by canceling the option, so as to achieve the goal of sole control of the company. Jihan Wu returned to Beijing from Hong Kong overnight and negotiated with Ketuan Zhan all night. In the end, the two resigned as CEO. Jihan Wu retired. Ketuan Zhan has the exclusive rights of chairman in exchange for the implementation of the layoff plan.
Jihan Wu's voluntary retreat has intensified Ketuan Zhan's management to do whatever he wants.
A Bitmain employee commented on Ketuan Zhan's management skills, summed up in two letters-SM.
After becoming the sole helm of the company, Ketuan Zhan quickly "rectified" the department in charge of Jihan Wu as the chairman of the board. He guided the sales of mining machines at the dinner, and pointed out that the sales performance is not due to the sales staff. Ability is strong, but the company provides opportunities. Take two sales leaders as examples, saying that if the company hadn't given the opportunity, they would still be losers. In addition, Ketuan Zhan also instructed the sales staff on how to toast and imparted the wine table culture and experience.
After the meal, Ketuan Zhan came to the conclusion that the quality of Bitmain sales staff was too poor, and Huawei’s blood needs to be injected to drive the company’s progress. Soon, the marketing and sales director from Huawei officially took over Bitmain, opening the era of brand premium for Antminer.
In order to further understand and guide the sales work, Ketuan Zhan asked to meet the customers with the sales staff. During the negotiation process, Ketuan Zhan had a heated discussion with customers on the issue of Chinese and Western medicine, and had also forced the sales staff to be able to ship 10,000 machines due to insufficient production capacity.
Although the requirements for sales personnel are strict, Ketuan Zhan has provided a lot of convenience for "Mainland Ark". In addition to selling mining machines at a more favorable price, Bitmain's mining machines are also hosted in Ming Wang at a higher price than the market price. Mine. It is reported that both Ketuan Zhan and Ming Wang are shareholders of Ark.
The new sales strategy of Huawei's executives has also brought very obvious changes to Bitmain. The self-righteous brand premium reduces the price-performance ratio of Antminer, causing competing products to eat away at Bitmain's market share. Later, Bitmain found that the strategy was wrong and started to cut prices, and found that the mining machine market was saturated and the purchase demand of miners had decreased.
More dangerous than the sales strategy is that the technical advantages of Antminer are being chased by competing products, and even overtaken. At the same time, the two mining pools under Bitmain also lost their first and second positions. The AI ​​business, which Jihan Wu placed high hopes and Ketuan Zhan personally supervised, became a laughing stock in the industry. Not only did it fail to make a profit, it almost brought down Bitmain.
Blindly introducing senior executives from Huawei to occupy important positions completely destroys the company's internal cultural foundation. The bureaucracy within Bitmain began to corrode from high-level employees to ordinary employees. Ketuan Zhan is not aware of this. He is still keen on recruiting Huawei employees, imitating Huawei's organizational structure and strategy, letting HR do sales and R&D personnel to do HR.
The organizational structure adjustment in October 2019 was the fuse for Ketuan Zhan to completely anger Bitmain management. This time, Ketuan Zhan completely marginalized Bitmain’s veteran employees, and suddenly promoted some of the “airborne soldiers” who had just joined the company to the position of person in charge, which caused the former person in charge to report to the new employees. The two managers who were originally equal The hierarchy becomes the subordinate relationship, the operation and development of different business lines are merged into a large department, the upward reporting process becomes more cumbersome, and the relationship between employees becomes delicate.
5. Headwind
On October 29, 2019, Jihan Wu urgently held a staff meeting. Prior to this, the legal representative of Beijing Bitmain has been changed to Jihan Wu, including the parent companies Hong Kong Bitmain and Cayman Bitmain. Jihan Wu stood in the lobby of Building 25, B1, announcing that Ketuan Zhan has been relieved of all duties. Any employee in the Bitmain Group shall no longer execute Ketuan Zhan’s instructions and participate in any meetings convened by Ketuan Zhan. If there is any violation, the company will demotion and expel the company based on the severity of the circumstances. If losses are caused to the company, the company will be held accountable.
Jihan Wu's speech is very long, which can be summarized as follows:
(1) Ketuan Zhan has been relieved of all duties. Also expelled from the original Huawei company HR Zhi Wang introduced by Ketuan Zhan at the end of 2018. Zhi Wang’s reputation on Bitmain was extremely poor and was ridiculed by employees as "nine thousand years" (In ancient China, the emperor was called "ten thousand years old", and the prince was "eight thousand years old." However, in the Ming Dynasty, there was an eunuch who caused harm to the country and the people. He called himself "nine thousand years old", meaning that he was only A little lower than the emperor's level).
(2) Ketuan Zhan's ability to control the company's option incentive plan has disappeared, and it is no longer possible to cancel employees' options at will.
(3) The organizational structure adjustment plan led by Ketuan Zhan was suspended.
(4) We are optimistic about the future of AI business, but the premise is that the main business can continue to make profits in order to support the company's continued investment in AI business.
In the speech, Jihan Wu also told employees the whole story of the "12.17 Incident" and bluntly said that the company is not in good condition. If no measures are taken, Bitmain is likely to go bankrupt in three quarters and he must come back to save the company.
At this time, Ketuan Zhan, who was on a business trip in Shenzhen, finally experienced the situation of Jihan Wu in the "12.17 Incident".
After the official return, Jihan Wu began to clearly point out the company's various problems in operation and management, and went deep into each business line to understand the situation. In the mining machine sales department meeting, employees spoke enthusiastically, reflecting on the difficulties and opinions encountered in the work, the marketing and sales director from Huawei asked with a surprised look, "Why didn't these issues be reported to me before?", and soon , The director was interviewed and "voluntarily resigned."
On November 2, 2019, Jihan Wu announced a salary increase for all employees. Bitmain’s last salary increase dates back to 2018. In principle, Bitmain has two salary increases every year.
On November 7, 2019, Ketuan Zhan spoke on social media for the first time, describing his hardship in starting a business, and condemning Jihan Wu for “stabbing a knife in the back”. At the end of the article, he also set himself a KPI for 2020, that is, the mining machine market share will reach 90%, and the AI ​​business will earn 1 billion.
But Ketuan Zhan's majestic plan did not make Bitmain employees feel emotional, but ridiculed him instead. Employees exposed that he insulted employees, advocated Chinese medicine, believed in Buddhism, drank in meetings, practiced Qigong...
However, there is less than half a year before the halving of Bitcoin production, and the cryptocurrency market shows no signs of recovery, which makes Bitmain management very anxious.
On January 6, 2020, Bitmain ushered in another round of layoffs, with a layoff ratio of about 1/3. This time the layoffs have caused many employees who have just increased their salaries to feel very grieved. On the one hand, they were looking forward to Jihan Wu's return. On the other hand, the compensation for this layoff was less than 18 years.
Ketuan Zhan, who has been unable to enter the Bitmain office area, once again spoke on social media and firmly opposed to layoffs. We do not need to lay off staff and we cannot commit suicide.
During the Spring Festival, Covid-19 broke out. Mainland China has begun to extend the Spring Festival holiday and advocate working from home. Under the chain reaction caused by Covid-19, most companies have chosen to cut salaries or even lay off employees. In the first two months of 2020, China's exports fell by 17%, U.S. stocks were broken four times in a row, Bitcoin plunged 40% in 24 hours on March 12, 2020, and crude oil futures fell by 300% on April 20, 2020...
Obviously, Jihan Wu can't predict, but this layoff seems to be the right decision again. In addition, from January to April 2020, Bitmain's revenue exceeded US$400 million amid the spread of Covid-19 and the collapse of the financial market.
6. Fight to the death
When Jihan Wu tried to get the company back on track, Ketuan Zhan was not helpless. On April 28, 2020, Ketuan Zhan finally rolled back the legal representative of Beijing Bitmain to before October 28, 2019 by repeatedly submitting administrative reconsiderations, and restored his status as a legal representative.
On the morning of May 8, 2020, a piece of news about Bitmain quickly appeared on the real-time hot search rankings, and even dominated the headlines of the day. At window 52 on the second floor of the Haidian District Government Affairs Center, when Ketuan Zhan, the legal person of Beijing Bitmain Company, was receiving the business license, a group of unidentified people snatched the business license from the industrial and commercial administrative staff. A source at the scene said that the number of unidentified people in the group was about 60 people, of which Luyao Liu was directing at the scene.
This is a skillful piece of news. It first leads readers to think that Ketuan Zhan is a victim, using 60 people to grab business licenses as the focus. The masses accused Jihan Wu of lawlessness, but ignored whether the government affairs center could have 60 personnel. As for Hong Kong Bitmain to have the right to appoint a representative to obtain a business license, this is a deeper level of thinking.
The follow-up report restored the real situation at the scene. Only more than ten people were present, and both sides were equipped with security personnel. Bitmain employees also broke the news in the circle of friends, claiming that Ketuan Zhan's bodyguard had injured Bitmain's authorized person, and said in a threatening tone, "Be careful!"
However, the subsequent plot reversal did not have much effect. Jihan Wu's reputation has been greatly affected. From a bloody soldier who rescued the company in trouble to a lawless criminal, it can be said to be a world of war. do not.
Ketuan Zhan, who succeeded in the first battle, began to counterattack Bitmain continuously. On the afternoon of June 3, 2020, Ketuan Zhan led a team to pry open the back door of the Beijing Bitmain office and formally occupied the deserted Beijing headquarters.
On June 4, 2020, Ketuan Zhan called on Bitmain employees to resume work and promised to expand the company's market value to more than US$50 billion within three to five years. After that, Ketuan Zhan began to contact employees by phone, trying to acquire the options in the hands of employees at a valuation of 4 billion US dollars.
Subsequently, Ketuan Zhan recalled Huawei's executives and issued a series of personnel appointments and removals. As of June 9, 2020, Ketuan Zhan has successively eliminated CFO Luyao Liu, and Wenguang Wang, the head of the mining center. Luyao Liu is responsible for controlling Bitmain's IPO plan. He also appointed Yanwu Ma as the HR director, Gang Ren as the head of the mining center, Yonggang Sun as the head of the supply chain, Ling Gu as the financial director, and Bin Zhu as the head of the mining machine business department. Bin Zhu is the senior executive of Huawei who was interviewed and left as mentioned in the previous article. During his tenure, he reduced Antminer’s 90% market share to 50%, and received a large number of complaints from miners. Internal employees once speculated that he might be Compete against the spies sent by the company.
In addition to recalling senior executives of Huawei, Ketuan Zhan also urged employees to return to work. They can receive a bonus of 10,000 yuan when they return to work on the same day, which is only half the next day. Ketuan Zhan showed a very kind side. Every time the elevator door is opened, Ketuan Zhan's hot gaze can be met, shaking hands, taking photos, and receiving money. As there is no personnel information, Ketuan Zhan does not know whether the person receiving the money is a Bitmain employee, and these people did not resume work the next day.
The effect of gentleness was not good, Ketuan Zhan began to force employees to return to work. Seeing that there are still very few respondents, Ketuan Zhan threatened employees through SMS, phone calls, EMS, emails and other harassment, issued multiple threats such as termination of contract, suspension of payment of social insurance, suspension of wages, and even used personal information saved by employees to form a group of employees. Domicile threats, requiring employees to perform "work handover", trying to force employees to return work computers, etc.
On June 10, 2020, the media revealed that Ketuan Zhan had controlled Bitmain's Shenzhen factory and prohibited employees from delivering normal shipments to paid customers, which caused difficulties in the operation of the Bitmain mining machine department.
On June 13, 2020, Hong Kong Bitmain, the parent company of Beijing Bitmain, issued a statement accusing Ketuan Zhan of signing a "Sales Agency Agreement" with the Ark Data Technology Co., Ltd. in which it holds shares, in an attempt to embezzle Beijing Bit's assets.
On June 17, 2020, the media revealed that Ketuan Zhan started selling 14,000 T17+ series mining machines at low prices.
On June 20, 2020, Hong Kong Bitmain officially suspended the supply of chips to the Shenzhen factory.
On July 13, 2020, in the "A Letter to All My colleagues in the Shenzhen Factory" released by Bitmain in Hong Kong, more details were added on the series of Ketuan Zhan's actions in June.
The legal person Feng Zhou of the Shenzhen plant is related to Ketuan Zhan. After being relieved of Ketuan Zhan's post, Jihan Wu flew to Shenzhen to have a long talk with Feng Zhou. Jihan Wu believes that Feng Zhou is the right person to manage the factory and help the company overcome difficulties, and decides to leave Feng Zhou to continue to manage the factory.
This wrong decision staged a story of a farmer and a snake. When Ketuan Zhan began to counterattack Bitmain, Feng Zhou was also quickly instigated and began to assist Ketuan Zhan in seizing customer machines and transferring 17,000 T17 mining machines in the warehouse. Hainan Continental Ark Data Technology Co., Ltd., which is held by Ketuan Zhan, sold them at a low price.
In order to protect the interests of customers, Jihan Wu had to make a compromise and paid the payment for some goods to a bank account controlled by Ketuan Zhan in exchange for delivery. However, after the other party received a payment of 109 million, the delivery stopped. On July 8, 2020, 5600 mining machines have been overdue.
At the same time, the factory defaulted on suppliers’ accounts payable as much as 200 million yuan. Bank acceptance bills issued by the factory, exceeding 36 million yuan, will expire on July 17, and more than 34 million yuan will expire on July 23. It is understood that Ketuan Zhan, after receiving the bank's dunning call, made it clear that he would not repay the loan, which would destroy the company and the entire group's credit in financial institutions.
7、 This is not the end
So far, the power struggle between the founders of Bitmain has been more than half a year. The office building already occupied by Ketuan Zhan is still empty, and most employees choose to work from home. Some chip developers returned to the office with the acquiescence of Jihan Wu and continued to maintain research and development to reduce the impact of infighting on technological iteration and competitiveness.
This giant ship that once stood on top of the supercomputer chip is crashing into the iceberg due to the madness of the former helm. Ketuan Zhan's madness and Jihan Wu's compromise made mistakes again and again. Bitmain tried to save himself many times, but was unable to get out of the black hole.
If the time goes back to that day in 2013, would Jihan Wu and Yuesheng Ge still choose to dial Ketuan Zhan?
submitted by paulcheung1990 to Bitcoin [link] [comments]

08-23 07:04 - 'We found Satoshi Nakamoto' (self.Bitcoin) by /u/Natalie_Wells removed from /r/Bitcoin within 63-73min

'''
Hello everyone,
My name is Natalie and my husband and I discovered the identity of the man who utilized the alias "Satoshi Nakamoto"; the founder of Bitcoin and whose involvement with the creation of the Blockchain has changed the world for better. I'm here to ask the community two simple questions:
  1. Can my family and I benefit, financially, from releasing this information?
  2. If we decide to release the information regarding the actuality of his identity, what would be the consequences of doing so in regards of the man himself and/or his work?
I'd like to sum up the reason why my husband and I are asking these questions: My husband and I decided to seek 'Satoshi's' identity in the hopes of contacting him and in exchange for handing over our gathered information, his collective footprint(s), and network of data in which assisted with the conclusion of his identity, he'd assist us with my family's financial burden(s) regarding my daughter's medical expenses and consequential livelihood expenditures.
My daughter is a toddler and suffers from trigeminal neuralgia; she needs a microvascular decompression procedure and we cannot afford it due to the loss of our health insurance, my husband's occupation due to the covid-epidemic, and we have utilized nearly all of our financial leverage already on related medical expenditures.
To be clear, we are not using this as a platform for charity. We'll share no contact information openly, there will be no "donate to our wallet" nonsense, and this isn't my real name and my husband's identity will not be shared either. We have this information, in which we've successfully verified, and we intended on having dialog with "Satoshi" but have since been unsuccessful with. The only response was a denial - any and all follow-up communication(s) have been ignored. We feel like our backs are against the wall and would appreciate any and all input concerning where to go from here.
This venture my husband and I decided to task ourselves with lasted eight (8) days before the suspected identity had far too much correlative data with "Satoshi" that any additional gathered information would have been unnecessary. We're both professionally adapted with informational gathering and the legalities of discovery so it's important to note that all information gathered on the suspect's identity and his correlation with the alias "Satoshi Nakamoto" was obtained through legal, open sourced means of free tools and techniques available to every one. We were not intrusive nor did we pry into any unethical means of research. The closest advocates of research we utilized within our conclusive portion of our document was sharing third-party correlative data with an "Torrent-invite" hack from 2013 in which we found publicly available.
The man who owned the alias of "Satoshi Nakamoto" is younger than suspect. He is of Asian decent (Chinese, not Japanese) and a United Kingdom citizen. He went to a U.K. university and took photographs for his university's papeyear-end book(s). He plays the piano, likes cats, worked and briefly lived on the West Coast of the United States of America, is still heavily involved in decentralization and FOSS projects. He is, also, unquestionably remarkable and intelligent for hiding in plain-sight and for his past and current projects.
We admire him sincerely - which is why it's important that you all answer as honestly as possible concerning the consequences of releasing this information. We are not malevolent people nor can we allow this information to negatively impact the man in any sense of the imagination. We haven't found any warrants or bounties, Government agencies, corporations or organizations (etc), wanting to know his current whereabouts for negative reasons. But, if we are wrong, please let us know by means of messaging here or simply posting on his posting because we will not release any information to anyone whatsoever if the slightest harm or negative inquiry is caused on the man. We can deal with the inconvenience of exposure (we are near bankruptcy and our daughter means everything to us) as a consequence of our information being released, but nothing else.
Any and all information concerning the inquiry of our gathered information can and will be shared by private means of communication. If there aren't sincere liabilities concerning his welfare as a result of our research being released and if someone and/or an organization that would like to help us out in exchange for said information, then we'd love to do so as formally as possible, whether through an escrow exchange to insure the buyer of the information is satisfied with our finding(s), or through any other private means of exchange.
We are not interested in any media interviews, random questions, publicity or any self-indulgence through the exposure of the man's identity. We'll remain anonymous and would love for every one to respect our plea for anonymity.
Feel free to private message us for further information. Thank you.
Natalie
'''
We found Satoshi Nakamoto
Go1dfish undelete link
unreddit undelete link
Author: Natalie_Wells
submitted by removalbot to removalbot [link] [comments]

HODL PSA

This may be an unpopular opinion however I feel that those who "buy Bitcoin" yet leave it on exchanges are actually doing more harm than good. This is because by doing so they're giving the exchanges further ability to financialize (devalue / over sell) Bitcoin by giving them yet another claim against this first truly finite asset. Don't let bitcoin be that kind of gold 2.0. We have all the necessary ingredients with this asset to pry it straight out of their price controling / manipulative hands! Let's take our currency back and let the real bitcoin revolution commence!
submitted by BitcoinCanSaveUsAll to Bitcoin [link] [comments]

There was no comrade comissar in 2015. I love my country

The true nature of a technical revolution. We've been through some, in our everlasting souls lifetime. Back in nineteen eighty five if you were nerdy enough you could deconstruct most of the components of the machine, the so-called friendly computers. It took twenty years to reach the enemy machines, smoky software and hardware directed all the way to the files individually and updated every two months like phantoms. This doesn't even count the supra-permeability of shady corporations who disclose regularly a hundred page terms in small print between you and the treat, that they know your not going to read, and worse. Monolithic governments trying to pry on it's citizens. I feared we were going to become one of those cases. I love my country, I do. I love America. I tried to fight all these implications, never being the man that was implied in these accusations. Freemium and freeware are called in clandestine circles master and slave relationships and Apple modeled it's marketing after Scientology. The whole architecture of the systems we used to know and trust has been turned against us. Tor, which was developed by US intelligence for multi-proxy browsing to remain anonymous in dictatorships is not impermeable. It enables proxy wars with a proxy browser. We need more benign software and open architectures. Computer software and components are already globalized. There are five million NSA annalists and all the data being sent and received is already being compiled. Software-service as in you don't buy but you use it creates a mini-state as in an entity which controls it's own borders, customs, relations and population. And forget about the NSA, because there are governments trying to implement a model which American corporations invented for profit, but around the world could be turned against it's citizens. A lax alternative, such as protected libertarianism could be achieved through cryptocurrencies such as bitcoin, the Tor browser and other proxies. Open architecture, such as the Linux operating system, could be key. You design a software, and are credited for it. But someone can pick it up and lay new lines of code on it. It evolves, branches out like life coming from the ocean. You can pick any iteration you want, or develop the one you like. That's freedom applied to software. I was very stoked by this way back when the financial crisis hit, corporations ramped up internet domination, a civil war was fomented by the west on the Ukraine, there was the IMF trying to pacify Southern European countries with the aid of their conservative governments, the East was purging it's last strongholds of cypher-punk, and there was widespread revolt that didn't have a target. Also, there was SOPA and PIPA on the line. I was a heroin addict running around and making my due. I got involved in this struggle writing political manifestos at select websites. My fault's my own. I didn't contact or was contacted by any government, any agent, any corporation. It was all on my own free will. All this was part of my testimony. I asked a top-level figure at WikiLeaks this following question, in a heated off-the-book debate between me, an European MEP, an hacker and a few interested bystanders. I asked them that if in their opinion what would be an effective way to fight apathy and surveillance in an impulse culture? Should we use shock mechanisms, infiltrate the media culture and use intelligence-like tactics or give up guerilla-ways and be more transparent and engage the mainstream up front, taking advantage of well placed people and timings, being ultimately less effective? There was no comrade commissar. I wanted to save the world.
submitted by WestofAltona to Cypher [link] [comments]

Cryptocurrency changes how we view Voice, Exit, and Loyaity discussions.

Cryptocurrency changes how we view Voice, Exit, and Loyaity discussions.
https://preview.redd.it/g1t0lftmqmd11.jpg?width=960&format=pjpg&auto=webp&s=4c1033afb6842a9e12277a9dc932684153e5f96a
Have you ever been in an abusive relationship? All you can do is get the hell out, because convincing your abuser hardly if ever works out tends to be just a lost cause. They are a predator you prys on your despair. Getting them to relinquish and power is not within their repertoire, no matter how much you plead, or cry. You are left with no other choice but to run.
Yet leaving isn't easy. You have to jump through certain hoops, be willing to face certain emotional challenges, and even possibly have nothing left to your name. This is not a winning strategy, even if your abuser won't be able to track you down, or doesn't even bother to try; you remain destitute and miserable in your new situation.
So you wait and get your hands on funds, find people who can help, and you learn to live a certain level of operational security. You then are forced to use the acting skills that any abuse survivor has developed and deemed necessary to survive in the outside world. Now that you are basically equipped yo break free and take ownership back of your life, you do it.
This is a coercive situation. You are left with only two options: voice and exit. Voice means agitating for a change from within. Voice is bargaining, lobbying, or plain begging. Exit, on the hand, means leaving to do your own thing. Exit means building alternatives, however, there is a third underlying component and that is loyalty. This constraints people choosing to exit when voice is futile.
With savvy, chutzpah, and help, many abuse survivors are able to emerge and reclaim normal levels of autonomy and independence. Yet some coercive entities even more tenacious than a motivated abuser, a better resourced than any individual. Let's view your adversary having a monopoly on violence in a given territory, and the war chest to back it up.
In the physical world that we know as "the real world," we often refer to it is as the "meatspace." In the meatspace, it's nigh impossible to actually have a meaningful exit from state control. The land has all been parceled out, and good luck overthrowing your local zoning board if you try with force you are a terrorist if you try legally someone is going to have to lose. Seasteading is an interesting thought, but could you really find a meaningful existence living in the ocean?. Emigration? Its funny people throw hissy fits when it's to immigration in the United States, do you really think any other country has vastly different views to people trying to easily come and live within their borders?
Here's the optimistic part. We're lucky enough that meatspace isn't the only venue for human flourishing. Online you are able to opt out of patrolled spaces. Don't you like the content-moderation policies of Twitter or Facebook? Start a Mastodon or Telegram room. Kryptonium offers a similar solution by allowing P2P chat, yet focuses on keeping the messages that you are sending out into the void impossible to decipher.
We have blockchain technology to further step in and take these content-moderation free services to the next level. While there is no overseeing eye, the user's privacy remains at the forefront of every P2P text sent between them. By using blockchain technology Kryptonium allows the conversation to become impossible to trance, and decypher threw its complicated RingCT system.
This area of privacy has been constantly pushed and pulled and even argued in high profile court cases. Cody Wilson, who pursued exit by making home gunsmithing easier with his own Ghost Gunner machines, while simultaneously fighting the State Department in court until they conceded his right to freely distribute weapons blueprints on the internet. This case has even gone on to rules each citizen of the United States is legally allowed to own a maximum of two ghost guns. Wilson's victory in this matter is not just a free speech win, but a demonstration of a divide between voice-centric activism and building alternatives: "I barely put a million bucks into this and I got you the Second Amendment forever," he told the Daily Wire in an interview, referring to his legal battle.
A Cypherpunk's Manifesto develops this idea even further, with the idea that coders don't actually care if you approve of what software they are writing accord to Eric Hughes. "We know that software can't be destroyed and that a widely dispersed system can't be shut down." he added, "Even laws against cryptography each only so far as a nation's border and the arm of its violence. Cryptography will ineluctable spread over the whole, and with it the anonymous transactions systems that it makes possible." What Eric Hughes described back in 1993 has become a stark reality that we are enjoying today.
Krytponium is just one of many privacy currencies out there who understand the importance of the anonymous transaction system that has to be built and built correctly. We have seen how even with Bitcoin that this system started out flawed, but as time has progressed we have developed newer and better ways to keep the user safe, anonymous, and their actions private. Many nations are playing the role of the abusers and trying to threaten would be investors, entrepreneurs, people who just want a non-corrupt system to place their earnings into.
Encryption offers an asymmetric advantage to defenders; that is, those with a secret to conceal. This one of the core ideas behind what governments see when they take a look at blockchain technology that allows communication over its software. It's easy and cheap to protect any given bit of information, but it becomes rather tricky and expensive to extract that same information without access to the private key. This is basically the core of how Kryptonium's RingCTs work, and throw the private key into a pool of thousands, alongside thousands and thousands of doors to open. This process makes it near impossible to crack, find out what was said, what contract was signed, or even how many tokens were exchanged in one transaction. The better your opsec, the closer you are to untouchable; by virtue of being unfindable.
SEC director of corporate finance William Hinman tacitly ceded a key point when it came to cryptocurrency. He said that even a cryptocurrency with an initial release that constituted a securities offering could eventually become decentralized enough to outrun the Howey Test.
Bitcoin was in the clear, Hinman explained, and he added: "Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions. And, as with Bitcoin, applying the disclosure regime of the federal securities laws to the current transaction in Ether would seem to add little value."
This is not a total victory for the cryptocurrency world, as it is only the viewpoints of one bureaucrat's opinion albeit one in a high seat of power within the SEC. This comes with the idea that even if the SEC decided to pursue enforcement against the creators of Ethereum, attempting to destroy it would be futile. By its very core nature it would not be halted, but only have its momentum damaged.
Encryption is a tool of autonomy and consent; its application to money reduces the degree to which governments can arbitrarily compel economic obedience, or even detect the absence of compliance. We are standing on the very edge of the crypto revolution that many have talked about for years. Technology has now only just caught up to where we have fantastic developers behind so many projects that it will eventually become too large for any one government to stop. One day soon, you will soon be able to opt into a monetary policy of your choice rather than bowing to whatever level of inflation your local governments have set in place. Kryptonium has set the ball rolling on a few real-world solutions to help bring the realm of cryptocurrency hidden away on a hard drive, and into your wallet with a simple debit card.
submitted by Swiftpain to Kryptonium [link] [comments]

This is a special time to be in the Ethereum ecosystem.

The high level of developer adoption in Ethereum is a huge competitive advantage and is what all the other “smart contract” blockchain projects salivate for and are constantly trying to pry away from us. There is currently an opportunity in the Ethereum ecosystem that is being provided to us by the current Internet hegemony, which has a strong tailwind with no end in sight. But before discussing that, first a quick look at what helped Bitcoin succeed so we can see the parallels.
Bitcoin came into existence in early 2009-- a time when many people had lost faith in the global financial system. Bitcoin became successful due to many factors, but in part, it rode on the back of this narrative of evil central banks, their easy money policies, and a reckless banking system. This helped give Bitcoin the momentum it needed as it slowly memed itself to success; it galvanized a very passionate core group of followers who constantly criticized government money, shouting from the rooftops. As we look back, had governments instead been fiscally responsible and not let banks be reckless, etc., bitcoin may not have had the same success it has had. Clearly, government/political recklessness gave some people a reason to care about bitcoin and these fanatics helped spread the word about this “new money" alternative.
Similarly, we're at the beginning stages of riding on the back of another narrative. This wave will be driven by a narrative around the lack of data privacy and security. With all the hacks, misbehavior and abuse of people’s data and privacy, increasingly more people are fed up with the current state of the Internet. Thanks to Ethereum as an incentive layer, some new systems are being built optimizing for privacy and security. For example, Golem is building a network for cloud computation with a focus on the user being in control. Streamr is building a network of real-time data streams where the user owns and is in control of the data and it is encrypted. There are other good projects doing other things optimizing for data privacy and security and the important theme is, and will be, about the user being in control. Current centralized systems cannot credibly offer those features, just like they couldn’t offer something like bitcoin.
Apart from quality and timely tech development, this movement—just like with bitcoin--needs constant shouting from the rooftops, endless memes, etc. We need more Ethereum fanatics, and more fanatics of these certain other projects who will help spread the gospel. Essentially, we need all the ingredients that willed bitcoin to success, aside from the obvious ingredient of tech development.
This is an uphill battle and will not be easy. Each of us can get involved and help take back what we should have never given up in the first place to these internet giants.
submitted by ethereumcpw to ethtrader [link] [comments]

They will win if..

Remember, bitcoin was not created to be part of the existing financial system. It was designed to be a fully independent system that is public, bordeless, immutable, and open. It was created for the people to pry back the power from the banks and give us a true peaceful revolution.
Always HODL your own keys!
submitted by BitcoinCanSaveUsAll to Bitcoin [link] [comments]

NYT article/The Weekly Episode on Epstein Hotlist

Just finished watching The Weekly (it’s kind of a Vice rip-off by the NYT) on Hulu where they went into detail about their story published this week about a « hacker » named Patrick Kessler who claimed to have tens of thousands of hours of Epstein’s private videos.
Turns out, Patrick did not released the videos and there is a lot of questions with his credibility, nonetheless, he clearly exposed two lawyers (Bois and Pottinger) for attempting to profit by offering to reach large settlements in which they would take 40%.
The article is here: Jeffrey Epstein, Blackmail, and a Lucrative Hotlist
Even though it sounds like this guy Kessler is full of shit, I REALLY wish that he wasn’t and at some point these troves of photos and videos get released and a bunch of rich and powerful people get what they deserve for abusing these women.
For those who need access to NYT- it is a long article, but here’s the full text:
By Jessica Silver-Greenberg, Emily Steel, Jacob Bernstein and David Enrich Nov. 30, 2019 Soon after the sex criminal Jeffrey Epstein died in August, a mysterious man met with two prominent lawyers.
Towering, barrel-chested and wild-bearded, he was a prodigious drinker and often wore flip-flops. He went by a pseudonym, Patrick Kessler — a necessity, he said, given the shadowy, dangerous world that he inhabited.
He told the lawyers he had something incendiary: a vast archive of Mr. Epstein’s data, stored on encrypted servers overseas. He said he had years of the financier’s communications and financial records — as well as thousands of hours of footage from hidden cameras in the bedrooms of Mr. Epstein’s properties. The videos, Kessler said, captured some of the world’s richest, most powerful men in compromising sexual situations — even in the act of rape.
Kessler said he wanted to expose these men. If he was telling the truth, his trove could answer one of the Epstein saga’s most baffling questions: How did a college dropout and high school math teacher amass a purported nine-figure fortune? One persistent but unproven theory was that he ran a sprawling blackmail operation. That would explain why moguls, scientists, political leaders and a royal stayed loyal to him, in some cases even after he first went to jail.
Kessler’s tale was enough to hook the two lawyers, the famed litigator David Boies and his friend John Stanley Pottinger. If Kessler was authentic, his videos would arm them with immense leverage over some very important people.
Mr. Boies and Mr. Pottinger discussed a plan. They could use the supposed footage in litigation or to try to reach deals with men who appeared in it, with money flowing into a charitable foundation. In encrypted chats with Kessler, Mr. Pottinger referred to a roster of potential targets as the “hot list.” He described hypothetical plans in which the lawyers would pocket up to 40 percent of the settlements and could extract money from wealthy men by flipping from representing victims to representing their alleged abusers.
The possibilities were tantalizing — and extended beyond vindicating victims. Mr. Pottinger saw a chance to supercharge his law practice. For Mr. Boies, there was a shot at redemption, after years of criticism for his work on behalf of Theranos and Harvey Weinstein.
In the end, there would be no damning videos, no funds pouring into a new foundation. Mr. Boies and Mr. Pottinger would go from toasting Kessler as their “whistle-blower” and “informant” to torching him as a “fraudster” and a “spy.”
Kessler was a liar, and he wouldn’t expose any sexual abuse. But he would reveal something else: The extraordinary, at times deceitful measures elite lawyers deployed in an effort to get evidence that could be used to win lucrative settlements — and keep misconduct hidden, allowing perpetrators to abuse again.
Mr. Boies has publicly decried such secret deals as “rich man’s justice,” a way that powerful men buy their way out of legal and reputational jeopardy. This is how it works.
7 men and a headless parrot
The man who called himself Kessler first contacted a Florida lawyer, Bradley J. Edwards, who was in the news for representing women with claims against Mr. Epstein. It was late August, about two weeks after the financier killed himself in a jail cell while awaiting trial on federal sex-trafficking charges.
Mr. Edwards, who did not respond to interview requests, had a law firm called Edwards Pottinger, and he soon referred Kessler to his New York partner. Silver-haired and 79, Mr. Pottinger had been a senior civil-rights official in the Nixon and Ford administrations, but he also dabbled in investment banking and wrote best-selling medical thrillers. He was perhaps best known for having dated Gloria Steinem and Kathie Lee Gifford.
Mr. Pottinger recalled that Mr. Edwards warned him about Kessler, saying that he was “endearing,” “spooky” and “loves to drink like a fish.”
After an initial discussion with Kessler in Washington, Mr. Pottinger briefed Mr. Boies — whose firm was also active in representing accusers in the Epstein case — about the sensational claims. He then invited Kessler to his Manhattan apartment. Kessler admired a wall-mounted frame containing a headless stuffed parrot; on TV, the Philadelphia Eagles were mounting a comeback against the Washington Redskins. Mr. Pottinger poured Kessler a glass of WhistlePig whiskey, and the informant began to talk.
In his conversations with Mr. Pottinger and, later, Mr. Boies, Kessler said his videos featured numerous powerful men who were already linked to Mr. Epstein: Ehud Barak, the former Israeli prime minister; Alan Dershowitz, a constitutional lawyer; Prince Andrew; three billionaires; and a prominent chief executive.
All seven men, or their representatives, told The New York Times they never engaged in sexual activity on Mr. Epstein’s properties. The Times has no reason to believe Kessler’s supposed video footage is real.
In his apartment, Mr. Pottinger presented Kessler with a signed copy of “The Boss,” his 2005 novel. “One minute you’re bending the rules,” blares the cover of the paperback version. “The next minute you’re breaking the law.” On the title page, Mr. Pottinger wrote: “Here’s to the great work you are to do. Happy to be part of it.”
Mr. Pottinger also gave Kessler a draft contract to bring him on as a client, allowing him to use a fake name. “For reasons revealed to you, I prefer to proceed with this engagement under the name Patrick Kessler,” the agreement said.
Despite the enormities of the Epstein scandal, few of his accusers have gotten a sense of justice or resolution. Mr. Pottinger thought Kessler’s files could change everything. This strange man was theatrical and liked his alcohol, but if there was even a chance his claims were true, they were worth pursuing.
“Our clients are said to be liars and prostitutes,” Mr. Pottinger later said in an interview with The Times, “and we now have someone who says, ‘I can give you secret photographic proof of abuse that will completely change the entire fabric of your practice and get justice for these girls.’ And you think that we wouldn’t try to get that?”
A victim becomes a hacker
Mr. Pottinger and Mr. Boies have known each other for years, a friendship forged on bike trips in France and Italy. In legal circles, Mr. Boies was royalty: He was the one who fought for presidential candidate Al Gore before the Supreme Court, took on Microsoft in a landmark antitrust case, and helped obtain the right for gays and lesbians to get married in California.
But then Mr. Boies got involved with the blood-testing start-up Theranos. As the company was being revealed as a fraud, he tried to bully whistle-blowers into not speaking to a Wall Street Journal reporter, and he was criticized for possible conflicts of interest when he joined the company’s board in 2015.
Two years later, Mr. Boies helped his longtime client Harvey Weinstein hire private investigators who intimidated sources and trailed reporters for The Times and The New Yorker — even though Mr. Boies’s firm had worked for The Times on other matters. (The Times fired his firm.)
By 2019, Mr. Boies, 78, was representing a number of Mr. Epstein’s alleged victims. They got his services pro bono, and he got the chance to burnish his legacy. When Mr. Pottinger contacted him about Kessler, he was intrigued.
On Sept. 9, Mr. Boies greeted Kessler at the offices of his law firm, Boies Schiller Flexner, in a gleaming new skyscraper at Hudson Yards on Manhattan’s West Side. Kessler unfurled a fantastic story, one he would embroider and alter in later weeks, that began with him growing up somewhere within a three-hour radius of Washington. Kessler said he had been molested as a boy by a Bible school teacher and sought solace on the internet, where he fell in with a group of victims turned hackers, who used their skills to combat pedophilia.
Kessler claimed that a technology executive had introduced him to Mr. Epstein, who in 2012 hired Kessler to set up encrypted servers to preserve his extensive digital archives. With Mr. Epstein dead, Kessler boasted to the lawyers, he had unfettered access to the material. He said the volume of videos was overwhelming: more than a decade of round-the-clock footage from dozens of cameras.
Kessler displayed some pixelated video stills on his phone. In one, a bearded man with his mouth open appears to be having sex with a naked woman. Kessler said the man was Mr. Barak. In another, a man with black-framed glasses is seen shirtless with a woman on his lap, her breasts exposed. Kessler said it was Mr. Dershowitz. He also said that some of the supposed videos appeared to have been edited and cataloged for the purpose of blackmail.
“This was explosive information if true, for lots and lots of people,” Mr. Boies said in an interview.
Mr. Boies and Mr. Pottinger had decades of legal experience and considered themselves experts at assessing witnesses’ credibility. While they couldn’t be sure, they thought Kessler was probably legit.
A chance to sway the Israeli election
Within hours of the Hudson Yards meeting, Mr. Pottinger sent Kessler a series of texts over the encrypted messaging app Signal.
According to excerpts viewed by The Times, Mr. Pottinger and Kessler discussed a plan to disseminate some of the informant’s materials — starting with the supposed footage of Mr. Barak. The Israeli election was barely a week away, and Mr. Barak was challenging Prime Minister Benjamin Netanyahu. The purported images of Mr. Barak might be able to sway the election — and fetch a high price. (“Total lie with no basis in reality,” Mr. Barak said when asked about the existence of such videos.)
“Can you review your visual evidence to be sure some or all is indisputably him? If so, we can make it work,” Mr. Pottinger wrote.
Kessler said he would do so. Mr. Pottinger sent a yellow smiley-face emoji with its tongue sticking out.
“Can you share your contact that would be purchasing,” Kessler asked.
“Sheldon Adelson,” Mr. Pottinger answered.
Mr. Adelson, a billionaire casino magnate in Las Vegas, had founded one of Israel’s largest newspapers, and it was an enthusiastic booster of Mr. Netanyahu. Mr. Pottinger wrote that he and Mr. Boies hoped to fly to Nevada to meet with Mr. Adelson to discuss the images.
“Do you believe that adelson has the pull to insure this will hurt his bid for election?” Kessler asked the next morning.
Mr. Pottinger reassured him. “There is no question that Adelson has the capacity to air the truth about EB if he wants to,” he said, using Mr. Barak’s initials. He said he planned to discuss the matter with Mr. Boies that evening.
Mr. Boies confirmed that they discussed sharing the photo with Mr. Adelson but said the plan was never executed. Boaz Bismuth, the editor in chief of the newspaper, Israel Hayom, said its journalists were approached by an Israeli source who pitched them supposed images of Mr. Barak, but that “we were not interested.”
‘These are wealthy wrongdoers’
The men whom Kessler claimed to have on tape were together worth many billions. Some of their public relations teams had spent months trying to tamp down media coverage of their connections to Mr. Epstein. Imagine how much they might pay to make incriminating videos vanish.
You might think that lawyers representing abuse victims would want to publicly expose such information to bolster their clients’ claims. But that is not how the legal industry always works. Often, keeping things quiet is good business.
One of the revelations of the #MeToo era has been that victims’ lawyers often brokered secret deals in which alleged abusers paid to keep their accusers quiet and the allegations out of the public sphere. Lawyers can pocket at least a third of such settlements, profiting off a system that masks misconduct and allows men to abuse again.
Mr. Boies and Mr. Pottinger said in interviews that they were looking into creating a charity to help victims of sexual abuse. It would be bankrolled by private legal settlements with the men on the videos.
Mr. Boies acknowledged that Kessler might get paid. “If we were able to use this to help our victims recover money, we would treat him generously,” he said in September. He said that his firm would not get a cut of any settlements.
Such agreements would have made it less likely that videos involving the men became public. “Generally what settlements are about is getting peace,” Mr. Boies said.
Mr. Pottinger told Kessler that the charity he was setting up would be called the Astria Foundation — a name he later said his girlfriend came up with, in a nod to Astraea, the Greek goddess of innocence and justice. “We need to get it funded by abusers,” Mr. Pottinger texted, noting in another message that “these are wealthy wrongdoers.”
Mr. Pottinger asked Kessler to start compiling incriminating materials on a specific group of men.
“I’m way ahead of you,” Kessler responded. He said he had asked his team of fellow hackers to search the files for the three billionaires, the C.E.O. and Prince Andrew.
“Yes, that’s exactly how to do this,” Mr. Pottinger said. “Videos for sure, but email traffic, too.”
“I call it our hot list,” he added.
Image The Grand Sichuan restaurant in Manhattan. The Grand Sichuan restaurant in Manhattan.Credit...Stephanie Diani for The New York Times A quiet table at the back of Grand Sichuan
In mid-September, Mr. Boies and Mr. Pottinger invited reporters from The Times to the Boies Schiller offices to meet Kessler. The threat of a major news organization writing about the videos — and confirming the existence of an extensive surveillance apparatus — could greatly enhance the lawyers’ leverage over the wealthy men.
Before the session, Mr. Pottinger encouraged Kessler to focus on certain men, like Mr. Barak, while avoiding others. Referring to the reporters, he added, “Let them drink from a fountain instead of a water hose. They and the readers will follow that better.”
The meeting took place on a cloudy Saturday morning. After agreeing to leave their phones and laptops outside, the reporters entered a 20th-floor conference room. Kessler was huge: more than 6 feet tall, pushing 300 pounds, balding, his temples speckled with gray. He told his story and presented images that he said were of Mr. Epstein, Mr. Barak and Mr. Dershowitz having sex with women.
Barely an hour after the session ended, the Times reporters received an email from Kessler: “Are you free?” He said he wanted to meet — alone. “Tell no one else.” That afternoon, they met at Grand Sichuan, an iconic Chinese restaurant in Manhattan’s Chelsea neighborhood. The lunch rush was over, and the trio sat at a quiet table in the back. A small group of women huddled nearby, speaking Mandarin and snipping the ends off string beans.
Kessler complained that Mr. Boies and Mr. Pottinger were more interested in making money than in exposing wrongdoers. He pulled out his phone, warned the reporters not to touch it, and showed more of what he had. There was a color photo of a bare-chested, gray-haired man with a slight smile. Kessler said it was a billionaire. He also showed blurry, black-and-white images of a dark-haired man receiving oral sex. He said it was a prominent C.E.O.
Soup dumplings and Gui Zhou chicken arrived, and Kessler kept talking. He said he had found financial ledgers on Mr. Epstein’s servers that showed he had vast amounts of Bitcoin and cash in the Middle East and Bangkok, and hundreds of millions of dollars’ worth of gold, silver and diamonds. He presented no proof. But it is common for whistle-blowers to be erratic and slow to produce their evidence, and The Times thought it was worth investigating Kessler’s claims.
The conversation continued in a conference room at a Washington hotel five days later, after a text exchange in which Kessler noted his enthusiasm for Japanese whiskey. Both parties brought bottles to the hotel, and Kessler spent nearly eight hours downing glass after glass. He veered from telling tales about the dark web to professing love for “Little House on the Prairie.” He asserted that he had evidence Mr. Epstein had derived his wealth through illicit means. At one point, he showed what he said were classified C.I.A. documents.
Kessler said he had no idea who the women in the videos were or how the lawyers might go about identifying them to act on their behalf. From his perspective, he said, it seemed like Mr. Boies and Mr. Pottinger were plotting to use his footage to demand huge sums from billionaires. He said it looked like blackmail — and that he could prove it.
‘We keep it. We keep everything’
Was Kessler’s story plausible? Did America’s best-connected sexual predator accumulate incriminating videos of powerful men?
Two women who spent time in Mr. Epstein’s homes said the answer was yes. In an unpublished memoir, Virginia Giuffre, who accused Mr. Epstein of making her a “sex slave,” wrote that she discovered a room in his New York mansion where monitors displayed real-time surveillance footage. And Maria Farmer, an artist who accused Mr. Epstein of sexually assaulting her when she worked for him in the 1990s, said that Mr. Epstein once walked her through the mansion, pointing out pin-sized cameras that he said were in every room.
“I said, ‘Are you recording all this?’” Ms. Farmer said in an interview. “He said, ‘Yes. We keep it. We keep everything.’”
During a 2005 search of Mr. Epstein’s Palm Beach, Fla., estate, the police found two cameras hidden in clocks — one in the garage and the other next to his desk, according to police reports. But no other cameras were found.
Kessler claimed to have been an early investor in a North Carolina coffee company, whose sticker was affixed to his laptop. But its founder said no one matching Kessler’s description had ever been affiliated with the company. Kessler insisted that he invested in 2009, but the company wasn’t founded until 2011.
The contents of Kessler’s supposed C.I.A. documents turned out to be easily findable using Google. At one point, Kessler said that one of his associates had been missing and was found dead; later, Kessler said the man was alive and in the southern United States. He said that his mother had died when he was young — and that he had recently given her a hug. A photo he sent from what he said was a Washington-area hospital featured a distinctive blanket, but when The Times called local hospitals, they didn’t recognize the pattern.
After months of effort, The Times could not learn Kessler’s identity or confirm any element of his back story.
“I am very often being purposefully inconsistent,” Kessler said, when pressed.
A Weinstein cameo
On the last Friday in September, Mr. Boies and Mr. Pottinger sat on a blue leather couch in the corner of a members-only dining room at the Harvard Club in Midtown Manhattan. Antlered animal heads and oil paintings hung from the dark wooden walls.
The lawyers were there to make a deal with The Times. Tired of waiting for Kessler’s motherlode, Mr. Pottinger said they planned to send a team overseas to download the material from his servers. He said he had alerted the F.B.I. and a prosecutor in the United States attorney’s office in Manhattan.
Mr. Boies told an editor for The Times that they would be willing to share everything, on one condition: They would have discretion over which men could be written about, and when. He explained that if compromising videos about particular men became public, that could torpedo litigation or attempts to negotiate settlements. The Times editor didn’t commit.
Mr. Boies and Mr. Pottinger later said those plans had hinged on verifying the videos’ authenticity and on having clients with legitimate legal claims against the men. Otherwise, legal experts said, it might have crossed the line into extortion.
The meeting was briefly interrupted when Bob Weinstein, the brother of Harvey Weinstein, bounded up to the table and plopped onto the couch next to Mr. Boies. The two men spent several minutes talking, laughing and slapping each other on the back.
While Mr. Boies and Mr. Weinstein chatted, Mr. Pottinger furtively displayed the black-and-white shot of a man in glasses having sex. Both lawyers said it looked like Mr. Dershowitz.
‘You don’t keep your glasses on when you’re doing that’
One day in late September, Mr. Dershowitz’s secretary relayed a message: Someone named Patrick Kessler wanted to speak to him about Mr. Boies.
“The problem is that they don’t want to move forward with any of these people legally,” Kessler said. “They’re just interested in trying to settle and take a cut.”
“Who are these people that you have on videotape?” Mr. Dershowitz asked.
“There’s a lot of people,” Kessler said, naming a few powerful men. He added, “There’s a long list of people that they want me to have that I don’t have.”
“Who?” Mr. Dershowitz asked. “Did they ask about me?”
“Of course they asked about you. You know that, sir.”
“And you don’t have anything on me, right?”
“I do not, no,” Kessler said.
“Because I never, I never had sex with anybody,” Mr. Dershowitz said. Later in the call, he added, “I am completely clean. I was at Jeffrey’s house. I stayed there. But I didn’t have any sex with anybody.”
What was the purpose of Kessler’s phone call? Why did he tell Mr. Dershowitz that he wasn’t on the supposed surveillance tapes, contradicting what he had said and showed to Mr. Boies, Mr. Pottinger and The Times? Did the call sound a little rehearsed?
Mr. Dershowitz said that he didn’t know why Kessler contacted him, and that the phone call was the only time the two men ever spoke. When The Times showed him one of Kessler’s photos, in which a bespectacled man resembling Mr. Dershowitz appears to be having sex, Mr. Dershowitz laughed and said the man wasn’t him. His wife, Carolyn Cohen, peeked at the photo, too.
“You don’t keep your glasses on when you’re doing that,” she said.
Data set (supposedly) to self-destruct
In early October, Kessler said he was ready to produce the Epstein files. He told The Times that he had created duplicate versions of Mr. Epstein’s servers. He laid out detailed logistical plans for them to be shipped by boat to the United States and for one of his associates — a very short Icelandic man named Steven — to deliver them to The Times headquarters at 11 a.m. on Oct. 3.
Kessler warned that he was erecting a maze of security systems. First, a Times employee would need to use a special thumb drive to access a proprietary communications system. Then Kessler’s colleague would transmit a code to decrypt the files. If his instructions weren’t followed precisely, Kessler said, the information would self-destruct.
Specialists at The Times set up a number of “air-gapped” laptops — disconnected from the internet — in a windowless, padlocked meeting room. Reporters cleared their schedules to sift through thousands of hours of surveillance footage.
On the morning of the scheduled delivery, Kessler sent a series of frantic texts. Disaster had struck. A fire was burning. The duplicate servers were destroyed. One of his team members was missing. He was fleeing to Kyiv.
Two hours later, Kessler was in touch with Mr. Pottinger and didn’t mention any emergency. Kessler said he hoped that the footage would help pry $1 billion in settlements out of their targets, and asked him to detail how the lawyers could extract the money. “Could you put together a hypothetical situation,” Kessler wrote, not something “set in stone but close to what your thinking.”
In one, which he called a “standard model” for legal settlements, Mr. Pottinger said the money would be split among his clients, the Astria Foundation, Kessler and the lawyers, who would get up to 40 percent.
In the second hypothetical, Mr. Pottinger wrote, the lawyers would approach the videotaped men. The men would then hire the lawyers, ensuring that they would not get sued, and “make a contribution to a nonprofit as part of the retainer.”
“No client is actually involved in this structure,” Mr. Pottinger said, noting that the arrangement would have to be “consistent with and subject to rules of ethics.”
“Thank you very much,” Kessler responded.
Mr. Pottinger later said that the scenario would have involved him representing a victim, settling a case and then representing the victim’s alleged abuser. He said it was within legal boundaries. (He also said he had meant to type “No client lawsuit is actually involved.”)
Such legal arrangements are not unheard-of. Lawyers representing a former Fox News producer who had accused Bill O’Reilly of sexual harassment reached a settlement in which her lawyers agreed to work for Mr. O’Reilly after the dispute. But legal experts generally consider such setups to be unethical because they can create conflicts between the interests of the lawyers and their original clients.
‘I just pulled it out of my behind’
The lawyers held out hope of getting Kessler’s materials. But weeks passed, and nothing arrived. At one point, Mr. Pottinger volunteered to meet Kessler anywhere — including Ljubljana, the capital of Slovenia.
“I still believe he is what he purported to be,” Mr. Boies wrote in an email on Nov. 7. “I have to evaluate people for my day job, and he seemed too genuine to be a fake, and I very much want him to be real.” He added, “I am not unconscious of the danger of wanting to believe something too much.”
Ten days later, Mr. Boies arrived at The Times for an on-camera interview. It was a bright, chilly Sunday, and Mr. Boies had just flown in from Ecuador, where he said he was doing work for the finance ministry. Reporters wanted to ask him plainly if his and Mr. Pottinger’s conduct with Kessler crossed ethical lines.
Would they have brokered secret settlements that buried evidence of wrongdoing? Did the notion of extracting huge sums from men in exchange for keeping sex tapes hidden meet the definition of extortion?
Mr. Boies said the answer to both questions was no. He said he and Mr. Pottinger operated well within the law. They only intended to pursue legal action on behalf of their clients — in other words, that they were a long way from extortion. In any case, he said, he and Mr. Pottinger had never authenticated any of the imagery or identified any of the supposed victims, much less contacted any of the men on the “hot list.”
Then The Times showed Mr. Boies some of the text exchanges between Mr. Pottinger and Kessler. Mr. Boies showed a flash of anger and said it was the first time he was seeing them.
By the end of the nearly four-hour interview, Mr. Boies had concluded that Kessler was probably a con man: “I think that he was a fraudster who was just trying to set things up.” And he argued that Kessler had baited Mr. Pottinger into writing things that looked more nefarious than they really were. He acknowledged that Mr. Pottinger had used “loose language” in some of his messages that risked creating the impression that the lawyers were plotting to monetize evidence of abuse.
Several days later, Mr. Boies returned for another interview and was more critical of Mr. Pottinger, especially the hypothetical plans that he had described to Kessler. “Having looked at all that stuff in context, I would not have said that,” he said. How did Mr. Boies feel about Mr. Pottinger invoking his name in messages to Kessler? “I don’t like it,” he said.
But Mr. Boies stopped short of blaming Mr. Pottinger for the whole mess. “I’m being cautious not to throw him under the bus more than I believe is accurate,” he said. His longtime P.R. adviser, Dawn Schneider, who had been pushing for a more forceful denunciation, dropped her pen, threw up her arms and buried her head in her hands.
In a separate interview, The Times asked Mr. Pottinger about his correspondence with Kessler. The lawyer said that his messages shouldn’t be taken at face value because, in reality, he had been deceiving Kessler all along — “misleading him deliberately in order to get the servers.”
The draft retention agreement that Mr. Pottinger had given to Kessler in September was unsigned and never meant to be honored, Mr. Pottinger said. And he never intended to sell photos of Mr. Barak to Mr. Adelson. “I just pulled it out of my behind,” he said, describing it as an act to impress Kessler.
As for the two hypotheticals about how to get money out of the men on the list, Mr. Pottinger said, he never planned to do what he carefully articulated. “I didn’t owe Patrick honesty about this,” he said.
Mr. Pottinger said that he had only one regret — that “we did not get the information that this liar said he had.”
He added, “I’m building legal cases here. I’m trying not to engage too much in shenanigans. I wish I didn’t, but this guy was very unusual.”
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BTC MIXERS: GOOD OR BAD?

BTC MIXERS: GOOD OR BAD?
Several major cryptocurrency exchanges, including Paxful and Binance, have recently demonstrated their negative attitude to mixing services.
🤹‍♀️ A cryptocurrency mixing service (cryptocurrency tumbler, Bitcoin mixer) is a special tool intended to mix ‘tainted’ or pseudo-anonymous coins with others. It makes tracing their origin very hard. It should be noted that a BTC mixer is not always used for money-laundering and other criminal purposes. Some law-abiding people apply it just for the love of privacy.
🕵️‍♀️ Obviously, crypto exchanges seek to decrease the level of privacy in order to increase transparency and security. In such a way, they want to ensure better compliance with KYC/AML regulations and avoid getting involved with ‘dirty money’. As for exchange users, many of them don’t agree with this strategy and see it as an attempt to pry into their business.
The latest event of this kind involved Paxful exchange - they blocked the account of the user Ronald McHodled when he tried to withdraw his funds. The exchange support service was worried that Ronald had tried to withdraw the money to a well-known mixing service and demanded explanations.
🤷‍♂️ McHodled himself declares he did not use this mixing service for any bad purpose. According to him, it was like using an ATM for withdrawing cash.
And what do you think?

https://preview.redd.it/x0ecrbka19g41.png?width=900&format=png&auto=webp&s=44b4e2f70e6df26cfcbf92b833e5ac53757a052a
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Brave Is a Faster, Safer Web Browser Made for Today’s Internet

Brave Is a Faster, Safer Web Browser Made for Today’s Internet

https://preview.redd.it/gn3omhsp7lp31.png?width=728&format=png&auto=webp&s=e9e33dac2b61c6b78f045dd939dd33142c3307bd
Brave is a new, privacy focused web browser which has taken the internet by storm, gaining millions of downloads in the past 12 months with no sign of slowing down. Based of Chromium (the open-source version of Chrome) and headed up by Brendan Eich (co-founder of Mozilla and inventor of JavaScript), Brave is simple and fast on the outside, but under the hood, it packs some disruptive technology to change the way we all think about those pesky ads.

Notable Features

To help pry you away from whatever browser you are currently using, we thought it might be useful to list some of the features that make the Brave Browser great.

Based off Chromium

Perhaps the biggest overall advantage of Brave Browser is that it is built off the open source version of Chrome, called Chromium. Chromium is fast, stable and already has support for hundreds of plugins, which makes the switch easy, especially if you want to continue to use plugins like Grammarly and Bitwarden. Whilst Brave does not have it’s own plugin store, all that is needed is to head to the Chrome store like normal to download your plugin.
Brave Browser itself is open source, which is well received by the privacy community and all the code can be inspected by anyone

Ad-Blocker Built in

Firefox and Chrome plugins such as Adblocker were the answer to a lot of privacy issues that have surfaced the past few years. Some of our favorite websites are now bombarded with ads and nags that take away from the browsing experience and whilst Adblockers helped, there always seemed like a better way. Brave Shields is Brave Browsers in-built ad and tracking blocker, meaning you don’t need to download a third-party plugin to get those nasty ads blocked. Brave Shields uses less resources than regular plugins, overall resulting in a faster browsing experience. It’s also a lot simpler and streamlined than other plug-ins currently available.

You Can Earn Crypto-Currency

Known as Brave Rewards, Brave interestingly allows it users to earn it’s inbuilt cryptocurrency, known as Basic Attention Tokens (BAT) whilst viewing ads. The ads are substantially less obtrusive than typical Google or Facebook ads, and are completely voluntary.
The Brave Rewards system also has plenty of features for those who still prefer to not view any ads at all. In this particular case, users are encouraged to fund their Brave wallet (in-built in the Browser) with either BAT purchased from an exchange, Bitcoin, Litecoin or Ethereum. Once the wallet is funded, the user can choose to support their favourite content creators by tipping, or on an automatic basis based on how time they spend on the site.

Not All Rosy

Brave Browser and Brave Rewards is still very much in development. Brave Ads are only showing in a handful of countries, with more to be released by the end of this year. Even if you don’t want to participate in Brave Rewards, the Brave Browser with it’s in-built ad-blocker gives us a little glimpse in to how bad the ads have truly become!
submitted by nadyatop30 to u/nadyatop30 [link] [comments]

Most Morbid Dark Web Mystery Box Unboxing

I have a very disturbing story to tell you. In the past I had made a hobby of posting deep web mystery box openings on my web channel. I now refuse to ever do them again. Mind you, I know that some of these box openings are faked. I can assure you mine was definitely not.

If you don‘t already know what a mystery box is. I’ll clue you in... It is simply a box that you purchase with bitcoin that someone stuffs with God knows what. You get the pleasure of being creeped out by opening it. You never know what will be inside. That’s the beauty of it. If you want to call it that. A few places online have them, but if you play on the dark web, there are no rules.

I have received broken dolls, old pictures of family members with fake blood smeared around them, (hopefully fake blood) stuffed animals, ripped woman’s lingerie, medical supplies, tarot cards, a rat skull. Anything scary, silly or macabre goes.

The scary thing is you don’t know who is sending you the box or what’s inside so you better have a damn good pair of gloves. A really thick pair. One time I made the mistake by reaching my hand into my first mystery box and getting a sticky glue like substance all over my arm. What a mess! It had leaked out of a bottle. I still don’t know what the hell it was, but it didn’t have a smell. I washed my hands pretty good after that. Hopefully nothing harmful.

I will not to reveal the exact website on the dark web I was purchasing my boxes from, but they have taken it down since this incident. I can only reveal that many people were bidding on this one particular box. It had to be good, so I thought.

So I took the chance. Hoping to get something interesting. I was almost out bidded by one user but I fought to the finish.This baby was officially mine. "Yes" I exclaimed as I verified my address feeling satisfied. I only used my post office box for safety reasons. Rule #1 Never ever use your home address. It’s not safe. There are crazy people out there.

It took at least 3 weeks for the box to arrive and I was super stoked to pick it up. It was a medium-sized normal looking cardboard box sealed tightly with packing tape. Not very heavy and it felt pretty light. I had hoped I didn’t get screwed, but I was curious to why this box had cost so much and why everyone wanted it. Soon I would find out..

When I arrived home that Friday evening I set up my web cam and something made me hesitate. I had a weird feeling about this particular box. Maybe my intuition was trying to tell me something. Instead I ignored it, grabbed my big metal scissors and set my area up.

I always put a garbage bag or sheet down on my kitchen table before unboxing because no telling where the hell the box came from or what might leak out. I slipped on my thick rubber gloves, observing them for any leaks or holes. I was good to go. Flipping on the webcam I began my video.

“It’s time for another unboxing folks! This is the big one you’ve been waiting for and I hope you get a thrill out of this as much as I do. I have been waiting for this box for 3 weeks it is finally here! It’s not very heavy as you can see. I wonder what’s inside?” I make sure to shake the box for the camera to show the lightness.

I began to cut the tape with my big blue scissors and anticipated what could be inside. I carefully open the cardboard flaps and see shredded newspaper. Little bitty bits of newspaper that someone personally looked to have hand tore into shreds. Riffling through I dig deeper to the bottom and feel something squishy.

I pull it out. It is a squared looking black garbage bag sealed with gray duct tape. Something is wrapped inside, but an odd smell is coming from the garbage bag.

A slight rotten odor permeates the air and I gag. I hope this isn’t something gross. Obviously it is. I nearly forget I am on camera. I began to sweat and something makes me very uncomfortable. But I keep going with my video. I pull up on the tape and open the garbage bag carefully, trying to not damage the goods inside.

I reveal a big white sealed zip-lock bag with a blue and white looking plaid material inside that looks to be a shirt. I smell the smell again and this time it's even worse. My natural reflex kicks in and the bag hits the floor. I gag. “Yuck!”

A sweet odorous smell fills my nostrils. You know the kind when a rat dies in the wall and decomposition takes place. The smell lingers for weeks. Sort of like that smell. But this was 10 times worse. I pick up the bag again and force myself to continue.

Written on the zip-lock bag in black marker are the words “SMELL OF DEATH” in all capital letters. What the hell? I stop the camera and realize maybe I shouldn’t put this on video. If there is something really gross in here or criminal, I don‘t need to be putting it on camera for the world to see. In the back of my mind I’ve always known the possibility of playing games with strangers. Some can turn out to be psycho. It’s a risk you take playing the mystery box game.

I quickly hurl the zip-lock bag out the front door. The pattern of throwing the bag around is becoming all to familiar. I spray a can of Lysol spray all over the room. Especially on the table figuring it’s just a stupid prank. I sit down for a moment trying to gain my composure and not be a wuss. I think back to the packages I’ve received over the past months. The glorious mystery boxes. None of them ever smelled like this.

Deciding to brave it up I decide I will march outside and open the bag. "There must be something else in that bag other than the plaid shirt" I think to myself. I mean I paid a good bit for this box.

I go outside and walk up to the bag holding my breath. I pull open the seal and shake the shirt out of the bag. It plops to the ground looking to be badly stained with fluids. Body fluids? Maybe I’m letting my imagination get the best of me.I see what looks to be a cassette tape wrapped in clear plastic sticking out of the front pocket. I quickly grab this with my gloves and step back. Waaay Back!

The shirt reeks. I gag and almost vomit. I try to keep a long distance between the shirt and I. I open the plastic wrapped film around the cassette tape. I don’t really enjoy touching it not even with my gloves. Written in the same permanent marker are the words “My Friend”

So whoever sent this mystery box must have taken an old-fashioned approach. I go into the garage and find my old boom box with a cassette player praying it still works. I usually plug it up and listen to the radio while working on projects. I put the tape in. I press play.

It makes a slight clicking noise. Hopefully, this works. Suddenly, I hear a crackly mans voice speaking with a slight southern drawl.

“I hope you are happy with your mystery box. This was a rare find and I’m so happy I get to share this with you. You see, a homeless man had died in the woods nearby my house. He was in a very desolate place where no one would look for him. I didn’t report it. Instead, I became a bit curious.” I probably shouldn‘t have, but oh well.

“I looked at his body each day. He must have had to been dead for over 5 days because I saw the bloody foam coming out of his mouth and nose. He smelled horrible. I think he even might have peed himself. I think that happens when you die. You lose your bodily functions.”

" You want to know what he was wearing? He was wearing a plaid shirt the one I sent you. He had on some old army looking pants and had long scraggly grey hair and a beard. I felt sorry for him and every day I went out to talk to him. He wasn’t dead to me even though he never talked back. He was stiff to the touch. He even looked to be smiling once like he might have heard me. I knew then he and I would be good friends. "

“I told him my life story of growing up not having a father and my step-dad who used to beat me with the belt. All over my body leaving big giant red whelps. I told him about my little brother Mikey who had died a month after he was born. He drowned in the bathtub. Momma blamed me for it and sent me to the home for bad boys. I was just trying to give him a bath. I filled the tub up and put him in. I was 10 years old.”

I wanted to hit stop on the cassette tape. Was all of this for real? Am I listening to the ramblings of a demented madman. I hit play and continued to listen.“I went back in to the woods many days later. And I saw that his body was turning green. I took a few pictures with a Polaroid of my new friend but did not dare to send them to you. I even took one of us together. I tried to pry open his eyes for the picture but they were too mushy and it didn't work.

I didn’t want my observations to be found out. I even brought him a blanket one night because it got real cold. He looked to be getting in worse shape each day and I knew I had to tell someone and so I took my friend’s shirt. I needed something to remember him by. My special friend.“

"I left and told him goodbye and thanks for listening to me and being a good friend. A few days later his body was found by local hunters and it was all over the news.”" I loved the way his shirt smelled. I couldn’t stop smelling it. So I thought I should share it with somebody. You like the smell I hope? "

”Okay well I have to go now. Don’t feel bad for taking my friend’s shirt. I will probably get another one soon. Bye”

I stopped the tape in disgust. It was the most morbid thing I had ever heard.

I messaged one of my good friends to come over and check everything out. He was a bit surprised after listening to the tape and gave one of his buddies a call who is a deputy in our little town. The deputy found it very disturbing and didn‘t think it was a joke. The man on the tape sounded sick.

Unfortunately, no action could be taken because it would be impossible to find the exact location the package came from. If I discovered actual human remains in the box then law enforcement could step in. There was no evidence of a crime committed.

The strange thing was the website was taken down not long after this happened. I stopped buying mystery boxes from the deep web after that. It was a very disturbing experience.

submitted by unknown_writer_00 to nosleep [link] [comments]

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