BitDeer 2019 Mining Ecosystem Conference: Focusing on the new era of open and win-win cloud mining

On May 29, the most influential annual industry event hosted by BitDeer came to a grand conclusion at Beijing Heyuan Jingyi Hotel. The conference was themed "BitDeer 2019 Mining Ecosystem". BitDeer founder Lu Haiyi invited Jiang Zhuoer, CEO of Litecoin Mining Pool, Fan Xiaojun, Head of Sales for Asia Pacific at Bitmain, Zhuang Zhong, CEO of BTC.com, Tian Xin, co-founder of Ant Mining Pool, Zhu Yu, COO of CoinIn Mining Pool, Jiang Jiazhi, senior blockchain developer, Liang Baoqing, CTO of Data Center Business at Bitmain, Li Yao, Senior Vice President of Cobo Wallet, Li Qingfei, CMO of F2Pool, Su Xiao, China representative of BITCOIN.com, Tong Yang, partner of Golden Finance, Gao Qiuwei, CMO of RiskHash, Li Feifan, global partner of ChainDD, Chen Lei, founding partner of BitBlue Whale, and other influential figures in the mining industry chain to come as special guests to help. The leading blockchain media also participated in this event, focusing on the open and win-win new cloud mining ecology of BitDeer and discussing the new situation and new pattern of the development of the mining industry.

As the world's first time-sharing shared mining machine platform that truly realizes computing power cutting and allocation, BitDeer has users covering 223 countries and regions around the world within five months of its launch, with more than 1 million monthly active users and a repurchase rate of over 80%. Its sales growth rate in the past three months has reached 300%, and its market share ranks among the top three in the cloud mining industry. It is the cloud mining platform with the fastest user growth in the world.

The outstanding achievements are inseparable from BitDeer's adherence to the original industry aspirations, its high-quality product design, and its strong technical and risk control capabilities, as well as the collaborative support of upstream and downstream industry partners. This also enables BitDeer to be differentiated from other cloud computing mining platforms on the market, allowing users to easily enjoy transparent and secure mining benefits without having to go through the complicated process of purchasing, installing, configuring or hosting mining machines.

Open and win-win, BitDeer Cloud Mining Ecosystem Empowerment

Looking back at the entire digital currency market, it has taken a sharp turn from its peak at the end of 2017 to the freezing of 2018. After experiencing a bull-bear cycle with a coin price drop of 80%, today, the market has quietly released positive signals. The computing power of the entire network is close to a historical high, the number of active Bitcoin addresses has rebounded rapidly, and the number of blockchain wallet users has surged. As an innovative species of financial technology, Bitcoin has been gradually accepted by users and merchants around the world. Traditional financial and Internet technology giants such as JP Morgan, Goldman Sachs, Microsoft, Google, and Facebook are testing the waters of cryptocurrency. All of this, in the view of Lu Haiyi, the founder of BitDeer, is a new beginning for the mining industry.

In her speech entitled "Open Ecosystem Diversified and Win-Win Cloud Mining - Mining Ecosystem Collaborative Accelerator", she talked about how, starting from 2018, cloud mining no longer relies on the bubbles and inflated prices of the bear market, but instead provides real services to users through technical operation and management industry chain integration capabilities. The industry development has stood at a new starting point. BitDeer, as the core of aggregating industrial resources, will unite the strength of more B-end mining partners to bring investment value growth to more C-end users, accelerate synergy, work together for win-win results, and stimulate the ecological vitality of the mining industry.

It is worth mentioning that Xiaolu’s cloud mining package empowers financial value in two dimensions: computing power and cycle. The flexible product form has brought considerable benefits to users and partners.

BitDeer also disclosed platform data for the first time on the spot. The net income of BTC mining produced by BitDeer for users every day exceeds 6 million, and the average number of orders per month reaches 4 times. The net profit of users with a maximum investment of more than 50 million is expected to exceed 50 million. At the same time, BitDeer also shares this industry dividend with mining farms, mining pools, sales partners and third-party service platforms. Among them, 8 mining pools have brought a cumulative computing power of more than 3000 P, and more than 10 cooperative mining farms have sales of more than 300 million; more than 20 global and regional agency partners have a net profit of tens of millions, and have shared the needs of millions of transaction users with multiple payment transaction service providers.

As market competition intensifies, building a diversified, healthy and stable business ecosystem has become a general trend. Lu Haiyi also said that BitDeer has initially established a partnership mechanism and presented the latest partnership plan to the guests.

For these six types of partners, founder Lu Haiyi also focused on the business model of computing power cooperation. First, for mining pool partners, they can obtain computing power through Xiaolu, share the computing power resources of Xiaolu's global users, and obtain additional services such as brand promotion and user traffic. Second, for mining machine and mining farm partners, the entry threshold is low, and hundreds of mining machines can be connected. Xiaolu platform sells computing power for them, which can not only recover funds in advance and maximize the value of mining machine assets, but also adjust the price independently with the currency price on the Xiaolu platform to obtain additional electricity fee profits. Xiaolu only sells the right to use for a certain period of time and retains the ownership of mining machine assets. After the computing power is sold, Xiaolu only charges a small commission and also provides a full set of sales and market integration solutions. Bit Xiaolu has launched sales cooperation products with many partners, and the dividends of cooperation are beginning to show.

Secondly, the cooperation with sales partners is mainly divided into three types: traffic cooperation, platform agency sales and Xiaolu Gold Agents. While obtaining considerable profits, they can also obtain greater user volume and platform activity, and obtain stable cash income with the support of Xiaolu. At present, the share of Xiaolu to sales partners has reached tens of millions of profits.

In terms of cooperation with third-party services, BitDeer will share millions of users with third-party services and establish a model of cash register cooperation and currency exchange cooperation.

Thirdly, BitDeer will also increase cooperation with ecological partners of different roles. For partners of mining machines and mining farms, BitDeer will strengthen pre-sales and operational support; for traffic partners and mining pool partners, BitDeer will increase joint marketing efforts; and for service and technology partners, BitDeer will share technical experience and platform user data.

In terms of service scenarios, Lu Haiyi also has more financialized ecological ideas for the future. First, it can provide financial services that can create more stable digital currency income for users; second, it can provide investment and financing services for users with liquidity needs through pledge lending, create ecological credit through the link of BitDeer, expand the asset management scenarios of mining users, and realize channels for cross-border resource exchange, thereby enhancing the "synergistic acceleration" effect.

Standing in the first year of BitDeer, we must connect with partners with a more open mind, give full play to BitDeer's ecological advantages, build a computing power ecological community, establish embedded ecological relationships, and on this basis continue to evolve and upgrade, continuously create new value, and form a more stable industrial structure.

Halfway through the agenda, under the witness of the guests on site, BitDeer founder Lu Haiyi and 9 partners of the Deer Ecosystem jointly launched the gilding ceremony, pushing the atmosphere of the venue to a climax. The curtain of BitDeer's in-depth cooperation in multiple fields was officially opened, and it entered a new era of the mining ecological chain.

To regulate the chaos, the draft of cloud mining industry standards is released

Since its birth in 2014, the cloud mining industry has always been a mixed bag, with bad phenomena such as capital disks and scams occurring from time to time. As a leader in the mining industry, BitDeer has combined its own development with the industry environment to lead the industry back on track. At the beginning of the second half, BitDeer released the first "Draft of Cloud Mining Industry Standards". Founder Lu Haiyi read out the content of the draft and expressed the intention to discuss the draft with industry partners and establish an effective mechanism to help users and partners in the cloud mining industry chain to make reasonable identification.

Among them, the draft content stipulates three key indicators: the computing power is real and transparent, the model is open and fair, and the fluctuation value meets the standard, and unifies the access standards of mining pools, mining farms, and mining machines.

On the one hand, whether the computing power is real and transparent can be determined from the three dimensions of traceability, controllability, and queryability of the computing power of the three-party mining pool. Lu Haiyi believes that this is also a crucial point. Second, the model needs to be open and transparent. Users can choose mining pools, switch mining pools, and check the order computing power in the mining pool. The mining income is directly paid to users by the mining pool on a regular basis, and the payment transaction information chain can be checked. Third, the fluctuation value must meet the standard. In terms of the POW currency computing power fluctuation compliance rate, the computing power fluctuation within 3% should account for more than 98%, and the computing power fluctuation within 1% should account for more than 85%. According to Bit Xiaolu's research and calculation, if the computing power is not within this standard range, the user's mining income will suffer losses.

On the other hand, the judgment of the mine access standard is mainly reflected in three dimensions: first, electricity needs to be guaranteed for at least 98% of the time, 98% of the mining equipment needs to operate normally, 98% of the mining equipment needs to have normal network communications, there must be strict network firewall settings, complete fire prevention and disaster prevention facilities, and active response from operation and maintenance personnel.

The access standard for mining machines is that the computing power fluctuation does not exceed plus or minus 5%. The equipment can operate normally in harsh environments such as high and low temperatures, humidity, dryness, wind and sand. At least two backup mining pools are set up, and mining pool exploration is actively supported. If there is a problem with the currently connected mining pool, it can be quickly switched. The mining pool life cycle is maintained for more than six months.

According to Lu Haiyi, the data in the draft is extracted by Xiaolu based on the key core indicators captured by the entire platform during the operation and maintenance process. BitXiaolu has won the world's most powerful mining pool suppliers. ViaBTC, BTC.com, Ant Pool, and F2PooL Fish Pool have aggregated more than half of the world's computing power. Therefore, the data calculated by Xiaolu has industry credibility and influence. With these data as a reference, it is believed that it will provide directional guidance for further data standardization in the mining industry, improve mining operation standards, establish industry benchmarks, standardize market operations, and promote the healthy development of the industry.

Experts discuss opportunities and challenges under the new situation

The two round-table discussions throughout the conference and the wonderful speeches by four guests were also full of climaxes.

As the first heavyweight guest, Jiang Zhuoer, CEO of Litecoin Mining Pool, interpreted the emergence of the Bitcoin bull market and the money-making effect of the crypto market. Under the rising market conditions of Bitcoin, this is also the topic that crypto investment users are most interested in.

Fan Xiaojun, the representative of Bitmain, which has established a deep strategic partnership with BitDeer and the head of Antminer sales in Asia Pacific, also shared the model and experience of cooperation with BitDeer through a speech, affirming the real computing power and layout of Antminer. In addition, the latest firmware of Antminer S9 series was unveiled at the venue.

In the 2.0 era of the blockchain industry, participants in the mining ecosystem need better resource integration capabilities to bring better services and value to users in order to further empower the entire ecosystem. This is the roundtable consensus reached by guests including BTC.COM CEO Zhuang Zhong, Ant Pool co-founder Tian Xin, and BITCOIN.COM China representative Su Xiao. They believe that BitDeer provides convenience and convenience for novice users in mining. In addition, there is no doubt that BitDeer is professional in the field of mining. It gathers professional people and integrates professional resources, providing good possibilities and entrances for mining, and also preparing for the launch of a new round of bull market.

In order to help miners achieve maximum profits and solve mine management problems, Bitmain will also launch a cloud monitoring platform in the near future. This is something that Xiaolu and Bitmain are working together to promote.

Liang Baoqing, CTO of Bitmain's data center business, said that by utilizing the connection characteristics of the "cloud", ensuring the normal output of computing power through the cloud platform, connecting to the mining pool, mining pool income and other management parts through the cloud, and connecting the entire operation and management, it can not only improve the application and ecology, but also help miners increase their income according to the price of the currency.

Regarding the risk control of miners in the mining process, RiskHash CMO Gao Qiuwei emphasized in her speech that the decline in coin prices and the increase in mining difficulty are both important factors that directly affect revenue. She believes that supplying computing power to BitDeer, which rents computing power to miners, can allow the mining pool to maintain a relative stability in price and rent. For miners, large platforms are more resistant to risks.

Li Yao, senior vice president of Cobo Wallet, also said that in the future, they will establish cooperation with BitDeer, work with BitDeer to open up the underlying clearing system, and realize the receipt of funds in seconds through BitDeer payment, so as to help the development of the new mining economy through this cooperative approach.

At the end of the second half, guests including Zhu Yu, COO of Biyin Mining Pool, Jiang Jiazhi, senior blockchain developer, and Li Qingfei, CMO of F2Pool, held a roundtable discussion on the impact of the upcoming Bitcoin halving in 2020 on the mining ecosystem. Mining is still a more stable investment method at present, but for individual investment in mining, the market is more welcoming to the new way of sharing computing power of BitDeer. The competition between mining pools, the pressure of mine management, and the income of miners can only be continuously developed and optimized in a healthy and complete mining ecosystem.

This ecological conference has given all participants in the mining industry chain a new understanding of BitDeer's ecological construction, and has also made more people pay attention to BitDeer's unique platform advantages and potential industry explosiveness. BitDeer, the world's leading mining machine sharing service provider, plays a key role in connecting the past and the future at a time when the mining industry is ushering in a new pattern. Through strong alliances, it shares resources with industry partners, complements each other's strengths, and jointly builds an open, diverse, cooperative and win-win cloud mining ecological environment, opening a new era of blockchain mining.