Great Devil in Mining Giant | Bitcoin,Crypto and Blockchain news and dictionary

Great Devil in Mining Giant

A trial was opened against Bitmain claiming that users were using their equipment to profit.

In the case filed through the US Northern California district court, it was claimed that Bitmain made mining on its behalf for several years using the hardware of its customers. Bitmain’s users are estimated to have cost about $ 5 million.

Bitmain’s miners’ equipment was claimed to be working on behalf of Bitmain during the launch or installation. This process can be extended to about one or two hours. At the same time, many hardware companies working for Bitmain causes the company to generate revenue without any expense. The number of people opened by the case is not yet known, but hundreds or thousands of users are estimated.

The allegations will have to be proved in court, probably the defense of Bitmain will be that the users accept the terms. However, these conditions will be challenged due to unfair competition and unfair rules. Blockchain’s lawyer Nelson M. Rasario said the following about the case:

If the claims are true, this is not going to be very good. Even if users have accepted the terms, some problems will arise in terms of the legality of the situation. Unfair earnings and simply stealing goods can not be accepted.

If Bitmain defends his defense, anyone who has ever bought equipment from Bitmain will have the right to sue. However, it remains unclear whether second-hand purchasers can qualify. The second hand is undergoing a controversial start-up phase, which requires re-installation. Bitmain was planning to organize an IPO next year.

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