Exclusive interview with F2Pool CMO Qingqing: Miners’ interests come first

On December 20, the "2019 Digital Mining Summit Forum" hosted by Lieyun Finance was grandly held at the Shenzhen Marriott Hotel Nanshan District. F2POOL was one of the co-organizers of the forum. Wabi.com had the honor to interview Qingqing, CMO of F2POOL, together with many media reporters.

The following conversation is based on the recording.

Wabi.com: The digital currency industry can now be divided into mining circle, currency circle and chain circle. Which circle do you think is more suitable for newcomers to enter?

Qingqing: It is said that the mining industry is closer to traditional industry investment. Compared with cryptocurrency or futures trading, mining has lower risks and more stable returns. People often say "a day in the cryptocurrency world is like a year in the real world". The market changes very quickly. When you don't know much about this digital asset, I would suggest you start mining. Because mining is relatively stable in the entire industry, it is also easier for newcomers to calculate. The purchase price of the mining machine, daily income, and payback period can all be calculated. The only changes are the currency price and mining difficulty, but it can also estimate our investment situation in the current market.

MiningCoin.com: Competition among mining pools is becoming increasingly fierce. Are you satisfied with the performance of F2Pool in 2019?

Qingqing: At the beginning of 2019, we were in third place. In the second half of the year, our computing power fluctuated between first and second place. The computing power of each mining pool fluctuates. The computing power of the entire network is stable at 90-95E. This year is a year of skyrocketing computing power, and some new mining pools have emerged. In general, the performance of F2Pool this year is very significant, whether in terms of product iteration or the increase in computing power share.

CoinWise: How will F2Pool be planned in 2020?

Qingqing: As for mining, most of the computing power and mining machine manufacturers are in China, but we are also making overseas layouts, gradually expanding overseas markets, organizing some activities, etc. to improve F2POOL's global layout.

Milin Finance: What do you think of the domestic policy on mining?

Qingqing: In November this year, the country took a series of actions, including the National Development and Reform Commission's deletion of "virtual currency mining" from the "elimination industry", and President Xi Jinping's proposal on the importance of blockchain. It can be seen that the government itself is very supportive of the field of blockchain technology.

Mining involves electricity consumption. It consumes a large amount of electricity and then produces Bitcoin rewards. We will develop the Chinese mining market in a compliant and legal manner.

Milin Finance: What do you think of decentralized mining?

Qingqing: We will not damage the network or the interests of miners. The mining pool must maintain the network and the interests of miners.

Art Creation Times: Many people are looking forward to the market after the halving. If the Bitcoin halving does not happen as expected, do you think there will be pressure on the mining industry? Will there be mining accidents?

Qingqing: We often discuss mining accidents. For example, at the beginning of the year, the price of the first-generation fighter S9 also dropped to 300 yuan per unit. At that time, a large number of machines were facing shutdown, which was also a mining accident, but it was short-term. After all, the price of coins is floating. So there may be a short shutdown and then restart. There will always be bull and bear markets.

Lieyun Finance: What is Qingqing’s entrepreneurial background and what opportunity led to her entry into the market?

Qingqing: Before entering the market, I was a free entrepreneur, and then I was fortunate to receive angel investment from Dayu. In 2016, Dayu entered the F2Pool. At that time, the ecological layout of the mining pool was not as competitive as it is now.

I was also quite interested in this industry at the time, so after finishing my previous startup in 2017, I joined F2Pool, where I was responsible for product and project management. When I first entered the circle, I experienced the peak period of Bitcoin. At that time, Bitcoin was 20,000 US dollars and S9 could be sold for 30,000 RMB. The market was particularly crazy, and many people rushed to buy coins and mining machines until the bear market appeared and everyone started selling again.

In the first half of this year, there were many activities in the blockchain field, and I also participated in the market operation layout planning. I come from a product background, so I have a better understanding of products and businesses. Therefore, I have been responsible for market operations since the middle of this year.

The biggest feeling is that I have experienced the bull and bear markets in the cryptocurrency circle and felt the impact of the market, so how to mine rationally and rationally is particularly important. In the future, we will still put the interests of miners first, deepen our products, and let miners have greater value in terms of ease of use and profitability of mining.

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