The most popular mining coin CKB recently - Niubit Cloud Computing AMA text record

At 20:00 on April 8, the AMA of "The Rise of Cloud Computing Power, CKB Leading the Way" was successfully concluded. The host Kiki from Wabi.com, Vera, the head of domestic business of Todek, Chen Xiaobao, the head of currency research of Panda Miner & OXBTC Cloud Computing Platform, and Kevin from Aladdin Mining Research Institute participated in the sharing.

The conference was jointly hosted by PandaMiner, Todek, OXBTC, and Aladdin.

Wonderful views: CKB's total network computing power is expected to reach 10P-12P, Todek will enter the HNS ASIC competition, the unified maintenance and management of cloud computing power model may replace the self-management of small miners and workshops, mining machine manufacturers will support the development of cloud computing power, and the tokenization of computing power will not appear for the time being...

Purchase and view exclusive link:

http://www.oxbtc.com/m/contract/product/CKB-C1?from=Aladdin

Kiki:

It is said that this year is the explosive year for small mining coins. As an old player in the small mining coin circle, what do you think of Nervos?

Aladdin @Kevin:

Well, actually, my friends in this group are very familiar with CKB. We have published articles many times, evaluating that CKB should be the top project in the circle in 2019.

CKB is a strong competitor of the new type of mining coin to inherit the remaining computing power of ETH to POS. The development team consists of: founder Terry Tai, the core developer of the original Yunbi trading platform, Daniel Lv, who was the CTO of Yunbi.com and co-founder of imToken, Jan Xie, the chief architect and researcher who worked in the Ethereum core team (Research Team) for two years and whose main work was to implement the first version of the Ethereum 2.0 Casper protocol, and Kevin Wang, who is far away in Michigan, USA and has made great contributions to the token economic model. As the core of the development, its development team is strong.

The technology is so trusted that it can become a partner of Huobi and conduct research and development of Huobi's financial public chain before the mainnet is launched. [email protected]: Aladdin: With the support of more than ten well-known investment institutions including Sequoia China, CMB International, Matrix Partners China, etc., it has completed a private placement of 28 million US dollars. Even in the most bearish year of 2019, it can still complete the Coinlist 0.1 yuan cost public offering.

Therefore, it is basically confirmed that CKB is a top project. As fans and loyal supporters of the CKB project, we have witnessed the new opportunities it provides for the development of FPGA2.0, and we are also looking forward to CKB's ASIC mining machines and cloud computing power to help CKB complete its next transformation.

Kiki:

Panda Miner & Niubit have always paid attention to small mining coins. Recently, CKB innovative mining (actual perpetual contract) was launched. Please @陈柏欣陈总 briefly introduce it.

Chen Xiaobao:

OK~ Different from the traditional BTC cloud computing power, CKB innovative contracts are a niche new mining coin computing power product. Based on the current TODDMINER C1 Pro mining machine with the largest computing power and the best energy efficiency ratio, and using the perpetual actual contract form, buying a contract is equivalent to permanently holding the mining machine computing power and enjoying the real mining income of the mining machine's complete life cycle. At the same time, the contract has a launch function, and miners can choose to trade computing power in the secondary market or directly withdraw the mining machine.

As we all know, the price of coins has fluctuated greatly in the past few months, and the mining income of many mainstream coins has also fluctuated. For miners, some new, high-yield mining assets are needed to ensure their own considerable income. In addition, the recent CKB ASIC mining machine was sold out as soon as it was launched. So after our calculations, we contacted the manufacturer to reserve the last batch of machines for cloud computing sales, and also recommended the "CKB Innovation Contract" to miners in need.

The current contract is a pre-sale product and is expected to take effect around April 15. The specific effective time will be adjusted forward or backward based on the actual deployment time of the mining machine. We and our partner TODDMINER are also actively coordinating to get the mining machine online as soon as possible.

Kiki:

I would like to ask a more intuitive question on behalf of fellow miners. Regarding the expected daily income, payback period, shutdown price, etc. of our CKB cloud computing power, please ask Mr. Chen to explain in detail.

Chen Xiaobao:

OK~ With the continuous shipment of mining machines from major CKB ASIC manufacturers, the total network computing power of CKB is currently in a stable and continuous upward state, so the payback period cannot be estimated based on the current static income. Here is a simplified formula that users can use to calculate the income according to their expectations:

(Contract computing power/total network computing power)*total daily release*coin price*(1-proportion of various handling fees)-daily fee=static net income of the day

Let's take a look at how this formula is calculated. For example, if a user now buys 1T of CKB computing power, and the total network computing power is 4500T, the daily emission of CKB is about 1200W pieces, and the actual amount may be higher. The coin price is 0.039 yuan, and if the consumption of various fees and electricity costs accounts for 6% of the mining income, the electricity cost for one day of mining is 8.6 yuan.

Substituting the formula, the mining income of the user in this case is 104 yuan, minus the electricity fee of 8.6 yuan, the net daily mining income is 136.4 yuan. According to the unit price of 8,000 yuan/T, the static payback period is about 87 days. We summarize these values ​​in the table, as shown below.

Except for the user's computing power and daily charges, the other values ​​above will fluctuate according to the actual situation, so the payback period will be adjusted continuously. The values ​​involved in the calculation can be viewed in major mining pools such as F2Pool and Spark Mining Pool, and substituted into the calculation.

Kiki:

We all know that ToddMiner is famous for producing "small mining coin" ASICs, and CKB's main ASIC is also produced by Todd. So what is your estimate of the CKB network computing power trend? Please @Vera share with everyone

Vera:

First of all, thank you all for your comments on us. The team has always been relatively low-key and focused on producing mining machines. We don’t know much about the news from the outside world. We can only say that our mining machines have certain competitive advantages in the market and have been recognized by more people.

Like many people, we were very optimistic about the Nervos project in the early stage, so the team also invested a lot of effort and experience. Fortunately, the final product was also very successful. Whether it is C1 or C1 Pro, the various values ​​of the machine after it came out are also very good. I will not elaborate on this. Of course, star projects will also attract more attention. According to our current understanding, there are at least 4 mining machine manufacturers on the market that have invested in CKB mining machine ASIC chips, such as K5, which some friends are familiar with before, and they are also optimistic about CKB mining.

According to the current estimated shipments of mining machine manufacturers, we estimate that the total network computing power will most likely be around 10P-12P by the end of April, and will continue to grow by the end of May, but we expect the growth rate to be limited. We hope that miners will have some expectations for this data and rationally calculate the payback period based on their own situation, and not be overly optimistic or overly pessimistic.

We will start shipping C1 Pro around mid-April. At that time, in order to ensure the interests of all miners, we will try our best to improve the shipping, logistics, and listing processes, hoping to help miners grasp CKB's "first mining bonus" as soon as possible.

kiki:

Cloud computing power has been on the rise for a long time, but because cloud computing power requires more manpower and material resources to maintain than directly purchasing mining machines, it has a low cost-effectiveness and has not developed well. How do you view the current opportunities for the rise of cloud computing power?

Aladdin @kevin:

Cloud computing power is a product that emerged when the mining industry matured, and it mainly solves the problem of the liquidity of mining machine computing power.

Cloud computing power is a derivative of the financial solution of the infrastructure of mining heavy assets. At present, many people have paid attention to and started to lay out the construction of cloud computing power. Although the new product coincides with the bear market in the early stage, the operation of cloud computing power platform will definitely encounter many problems such as high cost.

We believe that after a series of standardization of mining farm specialization, centralization process, and management specialization, this unified maintenance of cloud computing power and flexible and convenient investment entry method will definitely be better than the self-management model of many small mining farms.

Therefore, if the market remains tepid, the exit of small miners and small mining farms will provide a good space for the initial development of cloud computing platforms. Will the cloud computing power + large miners/large mining farms model be formed in the future? It is worth looking forward to.

kiki:

Traditional cloud computing power is mostly based on BTC. BTC computing power has the advantages of stability, large computing power, and a large number of participants. Why did you choose CKB cloud computing power as the focus here?

Chen Xiaobao:

OK, “CKB Innovation Contract” is a relatively new attempt. This “new” is reflected in two aspects:

One is that the computing power is new. Generally speaking, the cloud computing power of new currencies has higher potential returns than BTC computing power, but also greater risks. However, under the halving market this year, BTC actually fell last month, and the halving is coming soon, and the mining coin standard will be reduced by half. I believe that many users will be worried about the halving of BTC.

CKB will not be halved until 3 years later, and its output will not be negatively affected by the halving. Assuming the halving market exists, the price of CKB may rise due to the overall halving market. In addition, the project itself has potential, and there is a bonus for the first mine of ASIC mining. Combining these three factors, we believe that CKB cloud computing power is a supplement to traditional BTC computing power.

The second is the "new" mining model. As mentioned above, CKB contracts use actual perpetual contracts and use the most efficient mining machine, TODDMINER C1 PRO. When purchasing a contract, the actual computing power of the mining machine behind it is mapped. Buying computing power is equivalent to buying a mining machine, which can be traded or withdrawn later.

kiki:

ToddMiner, as a manufacturer, do you provide additional support for cloud computing power? For example, price, special customized models, etc.

Vera:

This cooperation with Niubit on "CKB Innovation Contract" is our first attempt to cooperate with a cloud computing platform. In the past, we may have used more traditional mining machine sales forms and channels. This time we are also trying to give it a try. We will see the market and user acceptance. Unexpectedly, the response is not bad. More miners recognize our products, which makes us very optimistic about the cloud computing model in the future.

In view of the low threshold, small amount, and mostly retail characteristics of cloud computing platforms, we may provide some special supplies and support in terms of machine prices and products in the future, so as to help mining machine manufacturers, platforms, and users form a deep chain relationship and bring long-term mutual benefit. We also hope that through the platform, we can collect more opinions and feedback from users, so that we can create more high-quality products in the future.

Among the cloud computing platforms, Niubit is one that we believe is very excellent and reliable. We hope that the two sides can have a series of in-depth cooperation, which is currently in the planning stage, so everyone can look forward to it.

kiki:

As an old hand in the cryptocurrency circle and mining industry, and also Aladdin who knows users best, from an investor's perspective, what do you think is the difference between investing in cloud computing power and buying mining machines for hosting yourself?

Aladdin @kevin:

In fact, most of the people in the group are veterans in the mining industry. Here I will briefly explain the main differences between cloud computing and mining machine hosting:

1. Your investment preference, that is, whether to choose heavy assets or light assets. Investing in cloud computing power is relatively flexible, and friends in the cryptocurrency circle are relatively easy to accept it, because the ownership of the mining machine is not in the hands of the buyer of the computing power, so you only need to ensure that the platform is reliable and the income is stable.

If you choose to host a mining machine, the ownership of the mining machine belongs to the buyer, and the working condition of the mining machine needs to be guaranteed. Secondly, the income still needs to be calculated. Relatively speaking, it will bear greater financial pressure.

2. Judgment on the entire market or project. For example, if you are optimistic about CKB in the long term, then it is more appropriate to choose to purchase a mining machine and host it yourself. Choose an area with cheaper electricity and have your own dedicated person to manage it, so as to maximize the residual value of the project.

So in summary: if you want a flexible experience, it is more appropriate to participate in cloud computing in the short and medium term. If you are optimistic about the long-term value of the project, experienced big miners buying mining machines is a shortcut to making money.

kiki:

There are many cloud computing platforms on the market. I would like to ask Mr. Chen a practical question: what advantages do we have compared with other platforms?

Chen Xiaobao:

Each wave of the market will also bring up a lot of cloud computing platforms, among which there are good and bad ones. As veterans in the industry, we have seen too many ups and downs of cloud computing platforms in the past few years, and we have also seen many platforms being eliminated after only a few months, causing huge losses to users who invested in them.

There are two common types of platforms that are eliminated: one is a fake cloud computing platform, which is a shell of cloud computing but has no entity behind it, and the subsequent capital chain breaks and the platform runs away; the other is insufficient risk assessment of cloud computing platform operations, which eventually leads to the destruction of the platform due to the outbreak of various risks. I hope everyone can carefully distinguish and identify clearly to avoid pitfalls.

As for the advantages of our platform itself, they can be reflected in the following aspects:

(1) Niubit itself has physical assets as a backing and a stable supply chain. The platform supply chain adopts a B2C model, and the core mining machine operation and maintenance are all done by Panda's own mining farm, which fully guarantees the stability and reliability of the machine and power supply. With physical assets as a backing, there is no need to worry about the risk of "running away".

(2) We provide users with products and services that are continuously profitable. The reason why Niubit is trusted by users is that we have been distributing mining income to users for six consecutive years. At the same time, we also provide many "risk hedging" measures from the user's perspective. For example, during the bear market, we introduced lower electricity prices to guarantee user income, and changed the perpetual contract rules to extend user income, etc., in order to ensure that users can survive the trough and cross the bull and bear markets.

(3) Innovative product lines meet the demands of different users at different times. Common cloud computing platforms on the market are mainly based on mainstream Bitcoin assets. Niubit has the advantage of freely integrating the supply chain, so it can launch computing power products of different assets to meet the needs of different users. We will have more planned outputs in the future, so please pay more attention to us and look forward to it~~

Compared with other cloud computing platforms, Niubit has always adhered to the core point. Recently, Niubit has just crossed the 2000-day stable income distribution. It is not easy for a cloud computing platform with more than 5 years and nearly 6 years of operation. Thank you for your support and accompany us all the way through the bull and bear markets~

kiki:

Considering that you have the greatest advantage in machines, has ToddMiner considered building your own cloud computing platform?

Vera:

At present, we will not invest in cloud computing platforms, and our focus is still on products. Because cloud computing platforms involve a lot of professionalism and experience, especially this time with the partners of the Niubit team, we understand that a series of contents in cloud computing platforms, such as multi-party communication, product accounting, and mining machine and mine hosting, are still very complex and difficult to handle. We believe that professional matters should be left to professional teams.

The business in this market is very large. Finding suitable partners can improve efficiency and achieve a win-win situation, thereby making the entire mining market bigger and stronger. This is what we hope to see more.

kiki:

Cloud computing power is a relatively new product. Can you briefly introduce the things to pay attention to when choosing cloud computing power?

Aladdin @kevin:

I also think that the core issue of cloud computing power is the reliability of the platform.

It is very important to choose a stable and reliable platform, followed by the profit ratio, sustainability, etc. At present, except for a few BTC computing power platforms in the market, many small cloud computing power platforms are difficult to maintain stable computing power, and the risk of achieving their computing power commitments is relatively high. Therefore, it is very necessary to choose a cloud computing power platform from a mining institution with a long history of management and operation.

Niubit Cloud Computing Platform is a cloud computing platform directly operated by Panda Miner. Panda Miner was established in 2014 and is one of the earliest digital currency mining companies in the world. After more than 6 years, Panda Miner has become one of the top digital currency mining companies in the world.

The current business layout includes four main business lines: mining hardware, mining infrastructure, miner services, and ecological expansion, covering the global miner community.

Therefore, CKB cloud computing power is the best choice to go to Niubit

kiki:

Cloud computing power is an attempt to make heavy physical mining machines "asset-light". Its core is to quantify the assets of physical mining machines. How do we overcome the inherent characteristics of physical mining machines?

Aladdin @kevin:

This topic is a long story. We have fallen into all kinds of traps. In short, we must first clarify a concept: Niubit has divided the differentiated needs of cloud computing into two types: theoretical contracts and actual contracts. Simply put, "theoretical contracts" are borne by Niubit for various risks in operation and maintenance, while "actual contracts" are borne by users themselves.

Objectively speaking, the mining farm will try to reduce the risk as much as possible, but it cannot ensure that the risk is 0, so the price of the theoretical contract will be slightly higher than the actual contract. This is a point that many cloud computing platforms will confuse users, and everyone needs to clarify their needs before making a choice.

Secondly, in terms of risk reduction, we will carry out two aspects: the refined site selection and construction of the mine, and the professional and systematic monitoring of daily operation and maintenance. The rational site selection and construction of the mine, and the professional and stable operation and maintenance monitoring are the core to fully ensure the life and stability of the mining machine~

kiki:

Cloud computing power can be traded, and trading will lead to ups and downs. Will speculation on computing power extend into an alternative form of "cryptocurrency speculation"?

Aladdin @kevin:

Haha, in the short term, no. "Speculation" requires capital and popularity to provide liquidity. At present, the blockchain industry is already lacking capital and liquidity. "Speculating on computing power" may become a good topic in the next bull market.

kiki:

OK, my question session is over. Thank you all for your patience in answering. Next is the free question and answer session for netizens. Students who want to ask questions please @ the guest. The guests can choose to answer the questions.

Free Question Session

Group Friend 1:

I just checked how the 5% management fee is charged?

@Chen Xiaobao:

The management fee includes the costs of mine maintenance, mining machine deployment, and mining machine repair.

The specific formula is "Daily management fee = daily mining income * management fee rate (5%)"

Group member 2:

Vera@Vera Are all the mining machines shipped in mid-April?

@Vera:

We will ship around mid-April.

Group member three:

What would you do if the price of the currency drops and the system shuts down?

@Chen Xiaobao:

The machine will be shut down first to prevent users from losing money in mining, and then restarted when the price of the currency rises. If it is confirmed that the machine cannot be turned on, we will notify the user that the contract will be shut down. Users can choose the way to handle the mining machine. At present, the probability of confirming that the machine cannot be turned on is very small, because the C1 PRO mining machine we use has strong performance, and the price of the currency when it is shut down will be lower than many mining machines.

Group member 4:

Is the electricity bill a single payment or is the revenue automatically deducted?

@Chen Xiaobao:

Profits are automatically deducted from daily income