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65 sats \ 2 replies \ @Bell_curve 23 Jul \ parent \ on: Swan Bitcoin Drops IPO Plan, Cuts Staff and Will Shut Managed Mining Unit bitcoin
I don't think they knew what they were doing as far as mining was concerned
Mining is a tough business for miners who have been doing it a long time
Most of Swan executives have a finance background
Max Keiser is an investor and board member/advisor
The company had too many people on payroll that were non essential
I volunteered at their conference last year and met a lot of non essential staff
I say non essential because they are not miners or developers or whatever
the company seems like a large meetup for southern California
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21 sats \ 1 reply \ @OT OP 23 Jul
You're probably right. Mining is super risky, but saying this now right before a massive bull run? IDK
True about the staff not really being "needed". I thought they weren't really paid much and received equity in the company instead.
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0 sats \ 0 replies \ @Bell_curve 23 Jul
what they should have done was buy, sell and auction hashrate
This way you can make money from mining w/o having to buy ASICs
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