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Cow Computing Power Jiang SIR shares: Is the popular cloud computing power a trend or a scam?
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Jiang Jinghai On April 26, 2020, Mr. Jiang, co-founder of Niu Hash Power, was invited by XBIT to give an in-depth presentation. The following content is an excerpt of Mr. Jiang’s wonderful presentation. XBIT: Hello Sir Jiang, there are more and more investors in the computing power market, and the popularity of cloud computing power has soared. Bitcoin cloud computing power even once accounted for more than 10% of the total network computing power. Why do so many people start investing in cloud computing power? What advantages do you think cloud computing power has compared to investing in mining machines and speculating in cryptocurrencies? In fact, facing the increasing computing power of Bitcoin, the threshold of the entire mining industry is also getting higher, and mining has entered the era of large capital clusters. For small and scattered players who are inexperienced or have not yet entered the industry, directly purchasing mining machines and looking for mining farms to host them is already a laborious task. The newly emerging "cloud computing power" model of purchasing and hosting can well solve the pain points of small and medium-sized miners and small and scattered players in participating in mining. The threshold is high and there are many pitfalls. It is also an excellent way for large mine owners and mining machine owners to disperse risks and establish barriers. Large mining farm owners build large-scale mining farms in areas with low electricity costs, which enable them to purchase machines at lower prices and electricity costs, and also have more professional technical teams and rich operating experience. These large mining farms provide services to users remotely through entrusted management or computing power leasing. On the one hand, this lowers the threshold for mining, allowing more small and medium-sized investors to enter the market, and on the other hand, it allows large mining farm owners to lock in profits in advance and reduce risks. Cryptocurrency speculation follows the "80/20 rule" very much. Those who can make money in the secondary market must be "old hands" who have experienced the bull and bear cycles of the cryptocurrency circle for a long time and can remain calm in the face of the sharp rise and fall of the cryptocurrency price. Such people are very rare. If you are a novice who has just joined the blockchain investment or a "conservative" investment player, then the cloud computing model is more suitable. Mining can extend your investment cycle, so that you are "forced" to hold the currency. In traditional industries, the long investment cycle is very long, and it is difficult for everyone to encounter it several times in their lifetime. In the digital currency market, the alternation of large bull and bear cycles is relatively fast. Once the chips obtained through "mining" reach the appropriate psychological expected price, they can be sold to obtain rich profit returns. Facts have proved that miners hold coins longer than ordinary cryptocurrency investors. We know that cloud computing platforms generally have two operating methods. One is to buy mining machines and build a mining farm by yourself, and the other is to sign an agreement with other miners, and the miners will connect the computing power to the platform. What are the differences between these two methods? What impact do different models have on investors? The first type can actually be called a "proprietary" cloud computing product. Such a platform is relatively strong, and hardware investment accounts for a large proportion. The characteristics of this type of platform are relatively high security and cheaper prices. The second type can be called a "platform-type" cloud computing product, which mainly relies on its own strong operational capabilities and resource integration capabilities. Compared with "proprietary" cloud computing products, its competitiveness will be weaker. In fact, for the two types of platforms mentioned above, no matter which mechanism is used, when choosing, we still have to give priority to reliable large brands with good reputation in the industry and strong platform strength. We must ensure that the cloud computing power products we choose are supported by real mining machines, with powerful mining machines, low mining costs, fast payback periods, safe and transparent returns, and strong platform risk resistance, so that we don’t have to worry about being scammed. Mr. Jiang: We currently have a total of 7 mining farms that we operate or invest in. The smallest mine has a load of 20,000 kWh, which means it uses 20,000 kWh of electricity per hour. The total load of the 7 mines is 493,000 kWh, which means it uses 493,000 kWh of electricity per hour. Normally, for a small county with a population of more than 100,000, the total civilian electricity consumption is generally 100,000 kWh per hour. Our total electricity consumption is enough for 3-4 small counties. We are still increasing our investment in mining, both in terms of the scale of the mines and the purchase of mining machines. I think this is a great time. We are investigating new power resources and sites in Qinghai, Inner Mongolia and overseas, and are preparing to gradually purchase the latest models of mining machines again. Due to the sudden outbreak this year and the subsequent halving of Bitcoin mining revenue, the current short-term Bitcoin mining revenue is more confusing, and there are also many negative industry reports, such as mining accidents are coming, miners are going bankrupt, etc. However, I think this is a very good stage for mining layout. The jargon is called: mining in a bear market, and speculating in coins in a bull market. Because mining in a bear market, machine prices, electricity costs, operation and maintenance costs, and all labor costs will be low. The entire industry will not be so impetuous during this period. After all, everyone's requirements for investment returns will become lower, so our Cow Computing Power has been expanding the scale of its mines during this period, and is also purchasing more new high-computing power mining machines. Cloud computing power has been criticized for its lack of transparency. Mining income and computing power can only be obtained through the platform. This has also led to many criminals using the name of cloud computing power to implement pyramid schemes, Ponzi schemes and other scams. How do you think ordinary investors should choose? It is necessary to pay attention to the following two types of cloud computing platforms. One type is the pseudo cloud computing platform, which has the shell of cloud computing but has no entity behind it. The platform will run away when the subsequent capital chain breaks. The other type is the platform with poor operation level and insufficient risk assessment of itself and the market. Ultimately, the platform will be destroyed or run away due to the outbreak of various risks and the break of the capital chain. In addition, when choosing, we must first look at the main body of the platform, judge whether the computing power platform actively discloses the operating entity behind the platform, and can also use software such as Tianyancha to query the company's background, so as to have a basic understanding of whether the company has a black history, debt disputes, etc. In theory, the more registered capital the better, and the company is willing to bear the company's responsibilities with how much property, which is a good insurance for the majority of buyers. Companies with less than 2 million registered capital have little responsibility and are more likely to run away. Another important point is to confirm whether the cloud computing platform is supported by a mining farm. In addition to some video and photo evidence, it is best to go to the mining farm in person to confirm the authenticity. With the development of the industry and the upgrading of products, more flexible products with stronger financial and transaction attributes such as computing power contracts and computing power certificates have appeared in the computing power market. What is your attitude towards these new products? Mr. Jiang: The halving is coming. What arrangements has CowHash made to cope with the halving? What strategies and measures can be taken to protect investors' returns after the reward is halved? Mr. Jiang: The issue of halving is very complicated. The impact of halving mining is actually a cross-variable. The mining income has four variables: the first is the price of the mining machine, the second is the price of the currency, and the third is the electricity cost of the mining machine. The fourth is the difficulty of mining, so the mining income is a comprehensive dynamic result. When the mining income is halved, many old mining machines will shut down, but it will not have much impact on those who own the latest mining machines. On the contrary, they will mine more BTC because the competition for computing power participating in mining has decreased. So at this time, the old miners are entering the market, and many professional miners are starting to buy mining machines at the bottom. At this stage, many new miners and new investors cannot be persuaded to buy mining machines, so I think the halving event is bad news for people who have a large number of old mining machines. But for miners who have a new generation of mining machines and are investing in the long term, this is actually a very good opportunity. To be honest, when Bitmain's new machine S19 was released a few days ago, a sales manager contacted me and talked about: some professional old miners in the current market have become active again. Moreover, for users of our Niuniu Hash Power platform, the platform provides computing power packages with flexible cycles, starting from 30 days. Such short-cycle products can guarantee the liquidity of investors' funds to the greatest extent. In addition, Niuniu Hash Power will also launch hedging cloud computing power products to further protect investors' returns. Scan the QR code to follow us and you won’t get lost Computing power package 0 yuan experience, free when you registerRegistration direct link: http://www.hashcow.cn/active/#/pages/index/index?method=7 |
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