TokenInsight's top computing power - March online

/ One-on-one interview: Listen to Shenyu talk about the past, present and future /

Shenyu, co-founder of F2Pool and Cobo: In a big environment, you need to maintain a good cash flow and not gamble with your life and property.

As global assets shrink, Bitcoin also falls. As industry practitioners and investors who have a certain understanding of the future of blockchain, we can still have a good expectation for the future of blockchain. We believe that blockchain technology will make great improvements to human society. Short-term price fluctuations are a good range for fixed investment. Of course, in a big environment, we need to maintain a good cash flow and not gamble with our lives. Keep a calm mind and participate in great social practices. It is estimated that there will be unexpected surprises through fixed investment during this period.

Blockchain technology still has various problems, such as performance bottlenecks such as capacity expansion. However, through the development of these years, we can see the technical possibilities of the value Internet. In the future, blockchain will definitely become the infrastructure of the value Internet and gradually enter people's lives. The development of Bitcoin and blockchain in the next few years will be a very big technological revolution. We are very lucky to be able to devote ourselves to this industry at an age when we can still fight.

/ One-on-one interview: How will new technologies and products affect computing power and industry development/

Fan Xiaojun, head of Antminer sales in Asia Pacific: S19 has the potential to become the new generation of "standard miners".

There are many reasons why S9 can become the best mining machine. The first reason is its high market share. At that time, seven or eight out of ten mining machines were S9. The second reason is its long service life. S9 should have entered everyone's sight since 2016, and some people are still using this mining machine to mine. The third reason is its good parameters. At that time, S9 was 1T100W, and its parameters were far ahead of other competitors in the market at that time. The fourth reason is good quality. If a product wants to operate stably for a long time, there must be a key factor, which is quality.

I have some special feelings about the 9 series mining machines. Our first generation mining machine S1 is a super classic model, and it has been upgraded to S9, which has been popular in the market for a long time. The entire interface of S19 is different from the previous one. It will use a brand new firmware and a brand new interface. We hope that S19 can become the "standard configuration for miners" of this generation. From what I know now, the operation and quality of S19 are very good.

The mining industry has been recognized by more and more people, and more and more traditional investment institutions have entered this industry. Mining will be more formalized, large-scale and professional in the future. Fan Xiaojun said: There is a sequence of learning, and there are specializations in skills. More outstanding companies or organizations will be born in the subdivision of virtual currency. The last sentence is to keep the coins in your hands and don't sell them easily.

/ Keynote Speech: Using the Tiger Tally to Plan Big Events /

Huobi co-founder Chang An: Recently, the price of Bitcoin and US stocks has shown a strong correlation, which to some extent punctures the fantasy of digital gold/safe haven assets. Although Bitcoin was born against the backdrop of the financial crisis, there is currently no sign that Bitcoin can remain immune to the financial wave sweeping the world. On the contrary, in the absence of supervision, the excessive use of derivatives and quantitative strategies has exacerbated the systemic risks of the digital currency industry.

The flash crash on March 12 reminds us that if market confidence is further lost, the death spiral of Bitcoin may start at any time. Returning to the original intention and viewing Bitcoin as a social experiment with rich financial significance may be a better mindset. At this moment, confidence is more important than gold.

Robust lending and custody services are essential for the healthy development of the industry. Hoofu is willing to work with peers to explore the future of digital finance.

/ One-on-one debate: Is Bitcoin still a safe-haven asset? /

Cai Kailong, senior researcher at the Institute of Financial Technology at Renmin University of China: I agree that Bitcoin has the function of resisting inflation risks, but it does not meet the definition of a safe-haven asset.

Under the condition of tight liquidity, the myth of Bitcoin as a safe-haven asset was shattered all at once. When the market reached a very tense and panic situation, and when the liquidity risk was very large, Bitcoin not only failed to play the role of a safe-haven asset, but was itself a huge source of risk. This situation is caused by the illusion that Bitcoin is a safe-haven asset that is usually created by holders and investors. In reality, when this illusion is punctured, everyone panics even more. Under the panic caused by the epidemic, coupled with the panic that Bitcoin is not a safe-haven asset, we can see that Bitcoin can fall by 50% or 60% in a day, and has fallen by two-thirds in a few weeks. In fact, it has been proven that it is not a strictly defined safe-haven asset.

Zhu Yu, founder of Biyin Mining Pool: Bitcoin is a perfect safe-haven asset in the long term.

First, Bitcoin does not avoid short-term risks. Second, Bitcoin does not avoid the risk of economic crisis. Third, it has too many linkages with the stock market, and it may be difficult to avoid the risk of stocks. In the past 11 years, the biggest risk that Bitcoin has avoided is inflation risk.

Looking at the growth of Bitcoin over the past 11 years, we believe that it is a safe-haven asset that is being accepted by the world and can avoid currency crises. It avoids this kind of risk. Because it has been discovered by the world to have such a safe-haven function, its price has been rising all the way. It is not because of currency depreciation that it has a hedging effect. It is not like that. It is just that most people did not know that Bitcoin could fight against inflation risks before. Now it is gradually accepted by everyone, so the speed of growth has slowed down. So in the past 11 years, I think Bitcoin is basically a perfect safe-haven asset in the long term, whether it is for currency crises or economic crises caused by currency.

/ Keynote Speech: NiceHash Adaptation Plan /

Andrej P. Škraba, Head of Marketing at NiceHash: New PoW blockchain projects may only have a small number of mining nodes.

The biggest advantage of NiceHash is that it is a one-stop digital asset platform. The digital asset industry can be divided into three main areas: exchanges, wallets, and mining. NiceHash is one of the few companies in the industry that provides services in all three areas. In the early days, NiceHash was a middleman between hash power buyers and miners, providing a large amount of hash power to many mining pools. At the same time, using its own exchange, it provides a complete solution for everyone who uses digital assets and wants to enter this emerging industry.

For new PoW blockchain projects, I think they may only have a small number of mining nodes. This will result in the network not having enough computing power to ensure the security of the blockchain network. Project teams can rent computing power from NiceHash and transfer it to their blockchain network to prevent 51% attacks! NiceHash was founded in 2014 and provides an integrated mining solution. New PoW blockchain projects may only have a small number of mining nodes, which will result in the network not having enough computing power to ensure the security of the blockchain network.

Project teams can rent computing power from NiceHash and transfer it to their blockchain network to prevent 51% attacks. NiceHash's adaptation plan solves the problem of mining machine compatibility. We asked ourselves how to connect different companies and miners to bring better products and user experience to customers in this industry. The mining industry is difficult to understand and rarely reported in the media. But there is a lot going on in this industry. The industry needs to hold more gatherings to bring together representatives from Western and Eastern countries to create new business opportunities. In addition, we must work hard to tell the public what we do, how to do it, what are the benefits of doing these things, and how to build the next big industry of the global economy.

/ Roundtable: How to fight against asset halving in the halving market? /

TokenInsight partner Jack: Be wary of liquidity risks facing the market.

FTX's COO Constance: The only advice I can give to users is that no matter how the market goes, they must do their own risk control. Users must be very clear about their own risk control capabilities before investing.

Vanessa, managing partner of Huixiang Fund: Bitcoin has entered an inflation cycle, which means that in the long run, Bitcoin will slowly return to the upward channel. The current Nasdaq circuit breakers and price breakers may also appear in the virtual currency market in the future.

Darius Sit, co-founder of QCP Capital: After this big drop, the entire market will turn from bearish to bullish. If you have a good strategy, you will have many opportunities to make money in this market. QCP believes that options are a good risk hedging tool, and we have a leading position in this regard. At the same time, we also remind investors to be wary of leverage, and spot trading is a relatively safe choice at present.

/ One-on-one interview: What new form will mining take after the halving? /

BTC.com CEO Zhuang Zhong: The halving may cause the elimination of old mining machines, the computing power of the entire network to decline, and the block production to be slow, but the overall impact on large professional miners is limited.

The halving will have a great impact on older models of machines, and the computing power of the entire network will drop dramatically. Due to the problem of Bitcoin's difficulty adjustment mechanism, if the computing power drops sharply, it will take a long time for the entire Bitcoin to adjust the difficulty back. During this period, a series of problems such as very slow block generation will occur.

However, mining is like an arms race. As long as miners can ensure that their production efficiency is in the top 50% or the top percent, they can continue to play in this market. Others will withdraw, and eventually there will be opportunities to make profits. However, in this case, the impact on various fields in this industry will definitely be very large if the scale is relatively small. In fact, for some large professional players, it is possible to seize this opportunity to obtain better returns after the crisis.

/ One-on-one interview: Re-examining risks after 312? /

Mark, partner of TokenInsight: There are many quantitative opportunities in the digital market, and investors are advised to focus on low-risk investment and asset management.

During the online video broadcast of the second day of the TokenInsight Global Supercomputing Industry Summit, TokenInsight partner Mark said that there are many quantitative opportunities in the digital market, 7*24 trading, greater volatility, and more quantitative opportunities, which is the main form of BTC-based asset management. However, quantitative trading itself is very professional and faces various systemic risks and operational risks. The team capabilities vary greatly and transparency needs to be improved. TokenInsight has conducted in-depth research in quantitative aspects, directly obtained the trading data of more than 50 quantitative teams, and further controlled risks through a unique risk control system to provide one-stop asset management services for institutions and high-net-worth investors.

/ One-on-one debate: mining or buying coins, which one should I choose? /

Tyler, global general manager of CoinHead Technology: Buying coins, hoarding coins, and trading are essentially a test of human nature.

Mining is a professional investment in Bitcoin. You must believe that you should not overestimate the power of short-term investment, nor underestimate the value of long-term investment. The timing of entering mining is very important. If you can enter the market at the right time and the right price, then the income from mining is greater than the income from buying coins. In a downward market, you need to judge your bottom line. In the current market, investing in mining machines and mines is safer than buying coins. At present, newer mining machines can generate stable and continuous income.

Huang Fangyu, co-founder of Wanyou Computing Power: Mining is a professional investment in Bitcoin. We must firmly believe that we should not overestimate the power of short-term investment, nor underestimate the value of long-term investment.

Tyler, the global general manager of CoinCore Group, said that buying, hoarding and trading coins are essentially a test of human nature. Trading mentality, time cycle, investment rhythm, position management, exchange selection, etc. are all important factors affecting investment returns and investment decisions. In addition, security must be put first, and investors need to think carefully when investing. Mining is too professional and not suitable for small-scale investors. For everyone, buying coins is simpler, more flexible and suitable for strategy management. In addition, the liquidity of holding mining machines is not as good as the liquidity of holding coins.

/ One-on-one interview: How can mining companies use derivatives to hedge risks in a market crash? /

Song Zhengxin, Head of GSR Asia Pacific: The worst times for the global financial market have not yet come, and now is the stage for the redistribution of wealth in digital assets.

Regarding the 312 market, this sharp drop is a systemic risk in the global financial market. Subsequently, the digital currency market broke out and the selling of borrowing and selling broke out, causing the currency price to continue to fall. He also said that the worst era of the global financial market has not yet come, and now is the stage of redistribution of digital asset wealth. Because in the current financial environment, mining is a good investment plan for over-the-counter investors. There are continuous legal and compliant computing power funds emerging overseas, raising funds with licensed entities, attracting a large amount of funds to enter the market, and mining investment will quickly become a new mainstream investment asset category.

The participation of OTC institutions will further promote the development of financial services in the industry. The risk preferences of institutional investors are different from those of individual miners. They pursue long-term stable returns. Therefore, as more outside investors enter the industry, the demand for risk hedging will gradually increase. The development of financial services in the mining circle and the participation of OTC investment institutions promote each other.

Take the product of not shutting down the mining machine as an example. Because the price has fallen to the point where the mining machines like S9 can no longer mine, some mining machines with high computing power are also at risk. So how can these miners guarantee that if the market continues to be bad, if it falls again, such as the price of 3,800 US dollars, they will not suffer losses and can continue to mine. They can still continue to mine even if it falls below the cost line. What we are promoting recently is the high-level set product. The operation method is like this. For example, today's spot price is about 6,200 US dollars. GSR can give miners the right to sell coins at a price higher than the market price. We can add 500 US dollars to the current price, which is 6,700 US dollars. Miners can lock in this price and sell coins within the cycle.

In the next month, we will calculate the average price. If the average price is less than $6,700, or only $6,000, we will compensate the miner for the difference. During the contract period, the coin is in his hands, and he still goes to the market to buy and sell as usual. We compensate him for the difference and provide him with insurance, setting a price higher than the market price for issuing coins.

/ Roundtable: New opportunities for mining small currencies /

Johnson, Chief Analyst at TokenInsight: Mining small currencies is a high-risk, high-return business, so you need to make a strategy. I think mining without a strategy is a pitfall. There are many pitfalls in small currencies, and you need to think and analyze and then gradually do your own risk control, mining and other strategies.

Andrej P. Škraba, Marketing Director of NiceHash: Currently, there are both opportunities and crises in the small currency market. Only projects that can truly solve some major problems in the industry and real life are truly valuable. NiceHash will pay attention to these valuable projects and add mining algorithms of these project currencies to the platform to provide miners with more choices.

Ryder, head of the PoW project at CITEX Exchange: Mining coins are relatively valuable. Currently, more than half of the top 10 currencies by market value are mining coins. Small mining coins now also have the opportunity to grow into large mining coins. The greatest value of mining coins is application, solving problems in real life. Relatively speaking, the economic model of mining coins is healthier. At present, small mining coins have the characteristics of application, community, strong technology, low market value, undervalued price, and low policy risk, which deserves everyone's attention.

DC, community manager of Nervos Mining Circle: Small currencies have their pros and cons, and the specific situation requires everyone to think carefully. The best state is to have an overall understanding of the project before investing.