Bitmain is an incredible success story, best known for its ASIC mining equipment, and fast becoming the Amazon of crypto.
Bitmain is a vertically integrated giant, from manufacturing, to mining, to pools, to exchanges (not just local exchanges in Asia, but also leading investment in Circle), to wallets (they recently took a majority stake in Opera with a $50M investment and added a crypto wallet to the browser) and even a $500M mining facility planned in Texas, along with new offices in Silicon Valley.
This slide is purported to be from Bitmain’s IPO slide deck, and is generating a lot of interesting discussion and commentary: https://twitter.com/search?q=bitmain%20bch
It appears that Bitmain has been selling BTC and accumulating BCH, now holding >5% of BCH monetary supply, estimated at >11% of all active BCH addresses.
With a mega IPO looming, bigger than Facebook, what does it mean for a cryptocurrency to be backed by such a dominant player? How can a community maintain control of a project’s protocol and vision, when well-funded third parties can hire their own developers to exend the protocol? What if it were Zcash?