Breaking the circle and growing! BEYOND-2021 Blockchain Technology and Application Summit concluded successfully!

At 8 a.m. on April 16, the banquet hall on the 5th floor of Chengdu's first Marriott Hotel was bustling with people. The "2021 'Breaking the Circle and Growing' Blockchain Technology and Application Summit and International Digital Mining Summit Forum" co-organized by Lieyun Finance, Bitmain, Alibaba Cloud, and Rolling Stone Miners had not yet begun. The check-in desk, booths, corridors and other places were full of guests, and people were coming and going, making it quite lively.

At 9:30, the forum finally opened with great enthusiasm amidst everyone's anticipation.

At the beginning, A Kun, co-founder of Lieyun Finance, delivered a speech on behalf of the organizers, thanking everyone for their strong support for Lieyun Finance. He also introduced that Lieyun Finance is a vertical blockchain media under Lieyun.com Group. Lieyun.com was established in February 2013 and is a well-known Internet entrepreneurship service platform in China. The company has successively obtained multiple rounds of financing from industry giants and professional institutions, including Alibaba, Lenovo Capital, Shanda Capital, etc.

Then, Conflux co-founder Zhang Yuanjie delivered a keynote speech titled "Conflux Ecosystem Trend". He mentioned that the current public chain is in a state of great competition. The country has seen the basic functions that public chains currently carry, but most of the related projects are currently initiated by foreign countries, and domestic forces are still very small. China's infrastructure needs to radiate globally, and in the future, China's public chain will have a place.

Subsequently, Alibaba Cloud digital financial solution expert Zhou Ming also delivered a personal speech. In Zhou Ming's view, blockchain can solve the trust problem in complex environments, and can call on people who have reached a consensus to work together to achieve common goals through a consensus mechanism; the consensus mechanism established based on blockchain can map physical assets in the real world into online digital assets; at the same time, blockchain is a technology that changes production relations, which gives everyone a lot of room for imagination.

Alibaba Cloud Digital Financial Solutions Expert Zhou Ming

Regarding the mining industry under the new computing power pattern, Gao Tianlin, Business Director of Bitmain's Asia Pacific Region, said that under the new pattern, mining business is increasingly tending to migrate to places with more stable supervision and lower electricity costs. In the process of migration, the requirements for practitioners' global vision and comprehensive management capabilities are getting higher and higher. At the same time, customers will make their investments more planned and sustainable under the trend of institutionalization and capitalization.

Regarding mining and investment, TopIPFS co-founder Noah Wang also shared his views. He said that everyone has his or her own circle of competence and mining is a long-term process. For long-term investors who are not particularly familiar with the secondary market, mining any currency is safer than making secondary investments. Very good stock traders can get better returns on investment through the secondary market in the current bull market.

In the personal speech session of "The Metaphysics of Trading", Jiuer, a partner of Gate.io, said that mining is ultimately inseparable from trading, and tools can help users observe the market and achieve better trading. At the same time, she also introduced that Gate.io has launched a number of targeted new tools.

Blofin CEO Matt said that the market today is very different from three years ago. Listed companies have allocated BTC beyond market expectations, and blockchain technology in the DeFi field is being implemented. Regarding Blofin’s situation, Matt said: “Blofin covers real-time data from more than 40 exchanges around the world, with more than 2 million new data per second.”

Regarding the hot DeFi, Beer's early evangelist Jerry said that DeFi has huge potential in the field of blockchain finance. DeFi is to put traditional finance on the blockchain. DeFi is the biggest outlet at the moment and can build a more diversified ecosystem.

In the roundtable session of "The New Economy is Taking Off, Blockchain Empowers the Future", Alibaba Cloud Digital Financial Solutions Expert Zhou Ming, Gate Labs Investment Director Tim Tian, ​​MXC CEO Hu Xin, Dfund Managing Partner Yang Linyuan, and RSK China Head (Guest Host) gave wonderful and informative speeches from different perspectives.

Roundtable on "New Economy is gaining momentum, blockchain empowers the future"

Zhou Ming said that there will be two very big milestones in the future. The first stage is represented by cloud computing, which will help more enterprises and individuals to achieve digitalization and access digital networks; the second stage is represented by blockchain, which will make this digital era more credible, more efficient, and more able to protect privacy. Through the combination of big data, blockchain, AI, 5G and other technologies, the industry market can be reconstructed and the digital economy era can be better promoted.

Tim Tian talked about the empowerment of blockchain from the perspective of DeFi. He believes that DeFi has borrowed a lot of ideas from the traditional financial market, making the entire blockchain infrastructure, including the track, more abundant, and allowing opportunities and challenges to coexist. On the one hand, DeFi has brought a lot of new traffic; on the other hand, DeFi's decentralized approach uses technology to achieve safer transaction solutions and promote the development of new infrastructure in the industry.

Hu Xin introduced that the future development of the blockchain new economy Web3.0 concept must be inseparable from decentralized storage. The infrastructure of the new economy of the lowest-level information collection wireless network will be more flexible, open, and inclusive than the 2G, 3G, 4G, and 5G networks built by China Mobile, China Telecom, and China Unicom, and will be more adaptable to the huge wave of changes from Web2.0 to Web3.0.

Yang Linyuan expressed his views on the growth of NFT. He said: "NFT is a natural breakthrough tool, which can continuously bring assets and users from the traditional world into the blockchain world. He said that what he is most looking forward to in the blockchain field is the killer application, and NFT may become such an application that brings a large number of incremental users and incremental assets."

The bull market is coming, and it is the right time to mine. The afternoon event started with a mining roundtable with the theme of "Unlocking the new way of mining in the bull market in the era of abundant water and gold mining". Jiang Zhuoer, founder of Litecoin Mining Pool, Gao Fei, co-founder of Duomi Technology, Zhang Yunhui, co-founder of CoinSoon, Gao Yu, COO of Ant Mining Pool, Alex Lam, founder of Rolling Stone Miner, Chen Yanming, product director of BitFuFu, and Qing Qing, CMO of F2Pool (guest host), participated in the discussion.

Roundtable on "The era of gold mining in Fengshui: unlocking new ways of mining in the bull market"

Jiang Zhuoer pointed out that in previous years, the computing power of the entire network fluctuated greatly during the alternate seasons of high and low harvests. However, this year, the computing power did not increase during the high and low harvests because of the shortage of chips. If there is a shortage of chips in the past two years and the computing power does not increase, mining will be profitable regardless of how the currency price changes. Jiang Zhuoer also said that the biggest danger for miners is the increase in computing power. If financial tools are used to reduce the risks in mining, options are a good solution.

When talking about the electricity cost, Gao Fei said that the first consideration for the ore dressing plant is safety, the second is stability, and the third is electricity price. At the same time, Gao Fei believes that the mining community has changed and electricity cost is not the main consideration.

Gao Yu also holds the same view. He said that we should look at stability rather than electricity prices. Stable electricity is the best because large companies care about stable profits.

Zhang Yunhui believes that as traditional institutions enter the blockchain, virtual assets are receiving more and more attention, and the consensus value of Bitcoin has increased significantly. As for buying coins or mining, he said that buying coins at high prices is not as good as investing in mining machines. Investing in mining machines is a long-term return, and its return increase must be higher than the increase in the price of the coin.

Alex Lam also pointed out that the biggest risk for newcomers who buy mining machines at a high price is that they do not know what risk is. Regarding risk avoidance, his suggestion is that hedging is suitable for large investors, and small investors should not use hedging. As for newcomers who mine at a high price, they need to solve two major problems: whether to invest and how to invest.

Talking about the mining trend this year, Chen Yanming believes that after the flood season ends this year, the difficulty will be higher than in previous years. Because this year's flood season is a time of superposition of the bull market, the current coin price is relatively high from the demand point of view, and many institutions have entered the market. They have a demand for mining machines, but are stuck in the production of mining machines. After half a year or a year, the institutions have solved the problem of mining machines, and the increase in mining difficulty will increase.

After the roundtable, Antpool COO Gao Yu delivered a personal speech titled "Antpool-Safety is King". Gao Yu mentioned the phenomenon of buying insurance for mining machines. He believes that this marks two things. The first is the recognition of social value, and the second is the specialization of large miners.

Unlike Gao Yu, who has a mining machine in hand, Alex Lam, the founder of Rolling Stone Miner, has brought a solution to the problem of difficulty in finding a "machine". He pointed out that the Rolling Stone Miner group buying can provide a one-stop mining service. As for retail investors buying machines, he shared that as long as they have a good attitude, they can buy machines, and what kind of machine to buy is more important than when to buy the machine.

Alex Lam, founder of Rolling Stone Miners

Regarding the "philosophical question" of whether it is better to mine or buy coins, Jiang Zhuoer, founder of Litecoin Mining Pool, gave the answer with a sharing topic "Why 90% of cryptocurrency speculators lose money, while 90% of miners make money".

He pointed out that 95% of people who speculate in cryptocurrencies will lose money because digital assets fluctuate too much, and many people like to increase leverage when the volatility is too large. Hoarding cryptocurrencies may seem to make a lot of money in theory, but in fact, not many people do it, which is against human nature; 90% of miners make money because 90% of miners will increase their positions and buy more mining machines to make more money, and all miners can enjoy the dividends of the bull market.

Then, R-Cluster Fuel Card CEO Phia li combined the industrial upgrade of the mining industry and brought us a solution for the Fuel Card system.

Phia Li introduced that Ranka is a computing power cluster management system that can provide a mining data platform for our operation and maintenance and mine management in a unified manner. Ranka has three features: original In House Cloud architecture, 1:1 replication of system network topology and mine rack topology through system integration, and intelligence.

R-Cluster CEO Phia Li

The mining industry is upgrading and facing three major trends: globalization, specialization, and long cycles.

BitFuFu CMO Wu Huimiao pointed out that the corresponding BitFuFu has four characteristics: first, the platform can ensure that users can mine in real time; second, it is standardized; third, it supports brand stores; and fourth, it supports computing power transfer. He said that all the product features of BitFuFu are to achieve two purposes: first, to standardize the energy consumption ratio, thereby lowering the user threshold, and second, to achieve the dual appreciation of computing power assets and coins.

At present, the "three major trends" are obvious, but it is undeniable that capitalization is ongoing.

Dong Zhen, head of Shanghai Waiyi Investment Department, said that the biggest difference in this round of bull market is the entry of many institutional funds. There are two major trends behind this: one is the entry of overseas listed companies into the digital asset industry; the other is that large overseas institutions have a new way to enter the market in terms of supervision. The relatively indifferent attitude of supervision towards digital assets has provided a good channel for overseas investment institutions.

Compared with "traditional mining" such as Bitcoin and Ethereum mining, FIL mining is also our focus.

Qiye, the overbearing president and co-founder of YPOOL, brought in-depth thoughts on FIL mining. Qiye said that the current technology is not in a relatively complete state, and the practice of blockchain cloud storage should also learn from the existing cloud storage solutions. Now the top FIL ​​miners are making top-level improvements.

Afterwards, 1475 Executive Partner Li Junhao shared with us his purpose of entering the Filecoin track, "Not for mining, but to find a good investment target." He pointed out that FIL is the easiest door for traditional large funds to enter the market.

Regarding the big question of what Filecoin is, Weng Ziyao, co-founder and COO of Anti-Entropy Technology, presented us with a different interpretation in the form of a story in his keynote speech "Witness". He said that Filecoin is not only a technology, but also a charge and challenge launched by humans, a species with a life span of only a hundred years, towards the grand proposition of greatness, eternity and immortality.

In the roundtable session with the theme of "The Ebb and Flow of the Distributed Storage Industry", Weng Ziyao, co-founder and COO of Anti-Entropy Technology, Kimmy, brand manager of KeyPool, Li Junhao, executive partner of 1475, Tang Teng, business director of Mars Cloud Mining, Boyan, partner of Open Source Mining Pool, and Zhang Xiaohang, secretary general of Glacier Distributed Storage Laboratory (guest host), had an extensive discussion on the current and future development of the distributed storage industry.

Roundtable on "The Ebb and Flow of Distributed Storage"

As for the reason for entering the field of distributed storage, Weng Ziyao said that it was due to the three major pain points of centralized storage: data is easily damaged, lost, and exploited. He wanted to explore ways in the blockchain industry to ensure that data will never be damaged, lost, or exploited, and to return data ownership to the original owner.

Li Junhao also said that the creators of data have not enjoyed the value brought by creating data in the real Internet world. Their original intention is to let the value generated by data return to the creators of data.

Regarding the discussion on the technical level, Tang Teng said: "Technology is not guilty. It is a good thing if technology is used well. The regulatory authorities pay more attention to the flow of data rather than the storage of data."

Boyan, a partner of Open Source Mining Pool, also said: "Whether from the perspective of concept or entry capital, the distributed storage market has been able to support technological advancement for a period of time, and the future will be more about breakthroughs in technological bottlenecks."

Regarding the future development of the industry, Kimmy said that the Filecoin industry's market size of hundreds of billions will lead to huge market potential for both applications and data development on it.

Zhang Xiaohang, Secretary General of the Iceberg Distributed Storage Laboratory, also pointed out that the future of distributed storage is very promising. Compared with other projects that are still at the stage of telling white paper stories, it already has a very good foundation. In the long run, focusing on doing this thing well now may bring greater benefits.

After discussing the "changing situation of distributed storage", we entered the "sea of ​​stars in digital mining". Chen Lei, founder of BitBlue Whale, Kong Meng, founder of VeryHash, Gao Tianlin, business director of Bitmain's Asia Pacific region, Li Peicai, founder of Shanghai Waiyi, Dayu, COO of F2Pool, Cai Yongxu, COO of Miner Dad, and Wang Xuejing, editor-in-chief of Lieyun Finance, participated in the discussion of this session.

Roundtable on "Bulls and Bears, the Ocean of Stars in Digital Mining"

Regarding the investment strategy, Kong Meng said that the risk of pure hedging is relatively large, and there is also computing power risk. After evaluation, the best investment strategy is to cooperate with the purchased mining machines with listed companies in the US stock market and then use stocks for hedging.

Li Peicai suggested that the best mining window this year is only two months away. The main reason for this judgment is that the mining farms will become more scarce as time goes by. By October, the mining farms will be very scarce. If Inner Mongolia cannot be opened, it will be very difficult for Xinjiang to take over all the new and old machines. Otherwise, the electricity price will become expensive and the mining farms will be very popular. If you want to mine, you must hurry up. Don't come in if you miss June.

Chen Lei said that Bitcoin is very likely to become a mainstream investment target, a very standard commodity that all kinds of players will play with. From this perspective, Bitcoin can continue to be optimistic in the medium and long term.

In the discussion of the industry development pattern, Cai Yongxu said: "There is no reshuffle in the mining industry. The entry of big capital into the mining industry is a good direction for the development of the industry. The industry is becoming more and more refined. The original short-term investment is now a long-term approach, which is very beneficial to the mining industry."

Regarding the market development stage that everyone is concerned about, Dayu said that the mainstream view is that we are now in the middle and late stages of this bull market, but we cannot ignore another view, that is, the foundation of this bull market has changed, and it is not retail investors who are bullish but institutional investors who are bullish.

Gao Tianlin also pointed out that the industry has not reached its end, and Bitcoin will rise very high, but everyone will make mistakes. In order to avoid losses or even benefit from the black swan, the way to deal with it is to do a good job of position management, hedging, and have a relatively long-term confidence in the industry.

Wang Xuejing also added that no matter whether the market is bullish or bearish, every investor must be aware of the risks and use financial means to protect their assets, so as to ensure the safety of their assets.

On-site photos

This summit was held in the form of a combination of online live broadcast and offline forums and exhibitions. The guests shared a lot of valuable information and the audience benefited a lot. "When mountains and rivers meet, there is always hope for the future", so see you at the next Lieyun Finance conference.

Special thanks to the summit:

Co-organizers: Bitmain, Alibaba Cloud, Rolling Stone Miner

Strategic partners: Antminer, Antpool, BitFuFu, Miner Dad, 1475IPFS, TOP Network, Litecoin Mining Pool, 100P Hash Power Club

Distributed Storage Roundtable Title Partner: Glacier Labs

Lucky draw partner: Baichuan Chain Service

Partners: BiWa, F2Pool, Canaan, Conflux, Gate.io, Ranka R-Cluster, Glacier Lab, RRMine Renren Mine, Shanghai WaiYi, YPOOL, TokenInsight, Blofin, MXC Polar Domain, Grayscale Cloud Mining, GC Ventures, VeryHash, Hengjia, Duomi Technology, Pionex, KeyPool, Mars Cloud Mining, Anti-Entropy Technology, Huobi Pool, Diancun Technology, BitBlue Whale, CoinSoon, DFUND, Open Source Mining Pool, Tsinghua PBC Blockchain Club, Only Network, TopIPFS, Zhiyun Xingkong, Beer

Special thanks also to the host of this summit, blockchain expert Sun Yujie

In addition, we would like to thank our many media partners for their strong support.