What miners should know: How do mining companies insist on bulls and bears?

Co-sponsored by Canaan , PayPal Finance and Youkuine YOUMine, with special support from Nova Club and Veryhash , Babbitt as a strategic cooperation media of the Hundred Regiments War Mining Summit . The halving ended on the evening of March 31 . The Great War · Mining Summit halved the wonderful core dry goods of the second day " Mining Machine Iteration " special session .

Moderator Yuchi CMO Qingqing: Please briefly introduce Avalon launched a new model Avalon 1066Pro

Luo Bin, Director of Overseas Sales of Avalon : A1066pro is our latest machine with high cost performance, 55T computing power and 3300w power consumption. It integrates Jianan's latest artificial intelligence chip. And our latest version of firmware and management software provides frequency modulation function, customers can adjust the computing power and power consumption according to their actual situation to improve mining revenue. Kanan has also increased its investment in AI since it went public in the US last year . For example, A1066pro uses artificial intelligence algorithms to improve the efficiency of mining, prevent hacker attacks, and maintain stable computing power from tampering and loss. At the same time, there are also new improvements in the structure of this product. Taking into account the actual operation and maintenance of the mine, a design of extractable computing power board is adopted to make maintenance more convenient and flexible.

Moderator Yuchi CMO Qingqing: What are the favorable policies launched by Jianan for partners and customers in recent years?

Avalon Overseas Sales Director Luo Bin: Agents have always been an important part of Avalon ’s ecological map. Companies who are willing to cooperate are welcome to contact us. We will evaluate the agent's qualifications, commitment sales and other aspects , and will also provide more resources and support to partners, special customers, and jointly prosper the mining ecology.

Moderator Yuchi CMO Qingqing: In the current market, how much has the computing power of the entire Bitcoin network dropped from the highest point? Which machines on the market have been shut down? How much is this size?

Luo Bin, Director of Overseas Sales of Avalon : The computing power of the entire network dropped by 16% last week ; the machine shutdown price, in addition to the model, is also very related to the cost of electricity , but if the average electricity price is about 3 cents From the left and right, basically , the old models such as S9 , A8 and A9 have reached the shutdown price.

Moderator Yuchi CMO Qingqing: After the flood season comes, can the decline in computing power of the entire network stabilize?

Luo Bin, Director of Overseas Sales of Avalon : There are many factors to consider, including whether the currency price can be stabilized. If the currency price can stabilize, or even rebound, there will be very few shutdown machines, and the downward trend in computing power will be stable; in the case of miners replacing new machines, many miners have already begun preparing for high-power computing machines on the eve of halving. If such miners If it increases, it will also stabilize the computing power of the entire network.

Moderator Yuchi CMO Qingqing: What is your opinion on the future of Bitcoin price?

Luo Bin, Director of Overseas Sales of Avalon : I take a positive attitude. Because the global economy is very bad now, major central banks in various countries have printed a lot of money to stimulate the economy, and will face currency depreciation in the future, which will stimulate asset prices to rise. Bitcoin has shown strong anti-inflation attributes and price elasticity in the face of global asset instability. They added leverage to hold money for short-term selling. When this wave of downside occurred, many leveraged funds burst into positions and withdrew from the market. Therefore, unsteady holders withdrew from the market and instead reduced the future selling power. And after halving , many miners with high electricity prices and miners with low computing power will face shutdown and withdraw from the market. And we know that in fact, miners are an important source of bitcoin selling pressure. When this part of miners exit, the selling pressure will decrease, supporting Bitcoin's upward movement. The remaining miners' bitcoin will increase, and their income will increase, but their cost has not changed, so the profit will increase. So the future trend will be good.

Moderator Yuchi CMO Qingqing: If the currency price does not rise after the halving, or it will remain at around 5,000 US dollars, will the mining disaster come?

Luo Bin, Director of Overseas Sales of Avalon : The withdrawal of the old model is an iteration of normal development and metabolism. Many years ago, when Bitcoin was maintained at more than 1,000 US dollars, many miners were still making money, and Bitcoin was still developing. I believe it is also a small twist in the history of Bitcoin.

Moderator Yuchi CMO Qingqing: The plunge in the currency price is a disaster for some people and an opportunity for others. Guests, please give your investment advice and talk about how we should get through this "crisis"?

Luo Bin, Director of Overseas Sales of Avalon : Due to the global new crown crisis, not only Bitcoin, in fact, many industries are facing many problems. For the future, it may also be the entry of new blood and the birth of new models. People begin to have a new understanding of the definition of assets and liquidity. We suggest that miners can also take some hedging measures. First of all, in terms of cost control, as the flood season in April and May approaches, you can choose stable mines with low electricity costs. In addition to the current cause of the new coronavirus, many factories are actually not started, and the power supply is surplus. In fact, it is a good opportunity to talk about low electricity prices. Finally, the use of financial instruments. And as the entire industry evolves to specialization, and capital enters the market. Miners can find a relatively stable investment strategy in it. Tools include financial derivatives such as futures, options, and leveraged lending. These are crucial for asset preservation and risk resistance.

Media questions | Babbit: In the current market, many miners will have a disturbed attitude or mood towards Bitcoin. What kind of layout or strategy does Avalon have for this ?

Luo Bin, Director of Overseas Sales of Avalon : Because at this stage, many miners need to upgrade their machines to maintain their competitiveness in computing power, so that customers can upgrade their computing power at low cost. And we have also upgraded the firmware of the machine to provide high computing power or low computing power and low power consumption mode, allowing customers to improve efficiency and profit according to their own power situation.

The following is the halves of the Hundred Regiments War · Mining Summit, and the miner iteration roundtable forum sharing a lite version.

The guests in this round of discussion are all miners with rich mining experience and relatively good business development. They are from the director of the Shanghai Mining Department – Mr. Li Chuanbin, the friend of mine YOUMine CEO | BitKeep founder – Ms. Chi Ruoran , and Bitao Technology The founder – Mr. Luo Xianqi.

Moderator Yuchi CMO Qingqing: Bitcoin has gone through a decade, after several rounds of ups and downs, how did everyone get through the original trough period, what pits have they encountered before, and how did they overcome the difficulties?

Li Chuanbin , director of the Shanghai Mining Department : Mining and mining machines are very easy for ordinary people who do not have professional knowledge to step on the pit. I share some experiences to build a basic understanding. The first is to correctly understand the mine and electricity price: power supply price + mine cost + operation and maintenance cost = managed electricity price . The larger the mine, the lower the cost, so everyone should pay attention to the fact that the cheaper the electricity on the market, the better. You must choose a mature and stable mine, and try to choose a mine that has been operating for more than one year. The third is to do a good survey of the mine environment. The fourth point is to choose a reputable mine and operation and maintenance team. The fifth point is that the billing measurement is accurate and reasonable.

At the same time, a powerful operation and maintenance team can escort your mining machine. You can distinguish the quality of an operation and maintenance team from the following indicators. The first point is the online rate; the second point is the compliance rate; the third point is the firmware optimization. Here I hope that everyone will hoard more coins and step less on pits.

Chi Ruoran, CEO of YOUMine : I started mining in 2017. At that time, the mine was very irregular and unprofessional. I really experienced many natural disasters. Natural disasters, for example , in June 19 , Sichuan saw a mudslide, just like " when you are still considering the benefits, your principal is no longer. " Therefore, choose the mine carefully. The most feared thing is the man – made disaster -the black mine. We will hear that even the machines and people are gone in the mine. Therefore, after three years of mining in 2017-2020 , when choosing a mine, I will personally lead a professional evaluation team to comprehensively investigate various factors such as geography and nature.

The second one is how to overcome difficulties? In fact, everyone should be clear, bull market speculation, bear market mining . Another question is how to keep miners in bear market. This year, older models will experience the update iteration of the times, so how to manage and store this part of the machine, miners need to understand and pay attention; there are " stealing machine " companies that will make capital or MLM disks The standardization of the entire industry needs to be perfected, and it should be formalized to allow users to really mine, ensure safety, and realize the industry normality that enterprises are responsible for customers and serve users.

In addition, there are " stealing machine " companies that will make capital or MLM disks. The standardization of the entire industry needs to be perfected, and it should be formalized to allow users to truly mine, ensure safety, and realize that enterprises are responsible for customers. , The industry normal for serving users.

Luo Xianqi, founder of Bitao Technology : Summing up two . Objective aspects, for example, the promotion in the early mines is very powerful. We just entered the mining machine. At first, we had no problems at the beginning. We actually encountered many problems later. Subjective aspect: At the beginning, the 0.3 yuan custody electricity fee, he will give you some additional labor costs. . In addition, I shared a story about pumpkin Zhang Zhangnangeng and the roast cat. When the choice of the currency price plummeted at that time, whether their fabrics should put their own mining machine and the joint mine together, pumpkin Zhang did not, so escaped A catastrophe; and later the roast cat chose to unite. Personally think that this is the main reason for the retreat of roast cats. How should mining companies achieve scale? I was fortunate to communicate with regular mining companies such as Diyi and YOUMine Beijing. I learned that they are long-term adherence, good reputation, and adherence to reputation is a benefit of the brand. In general, I have encountered various pits. When it comes to countermeasures, there is no good way for my personal experience. Of course, if you lose, it means that your current ability is not enough to support your ambitions, and you have to communicate more. Moderator Yuchi CMO Qingqing: The recent global financial market turmoil, US stocks have repeatedly triggered a meltdown, the stock markets of Europe, Asia, South America and other countries have been hit, and the crude oil market has plummeted. There is a view that the liquidity crisis in the peripheral market has affected the price of Bitcoin. Are there more miners affected by this wave of decline?

Li Chuanbin , director of the Shanghai Mining Department : We have prepared in advance for the collapse of the currency price on the 312 night. It is not that we have predicted it, but that the mine has made preparations and taken measures for the currency price decline . Our annual mines, such as the annual mines in Inner Mongolia, Xinjiang, we will deploy 60W / T machines, including M21s , M20, etc., to ensure that such machines will also benefit when the currency price plummets .

Chi Ruoran, CEO of Youmine : The beginning of the 312 incident was mainly due to a series of impacts such as lack of liquidity and epidemic conditions. I personally feel that the subsequent two consecutive declines, mainly because of the particularity of the Bitcoin and cryptocurrency markets, did not fuse, etc. Some protection mechanisms have led to a vicious cycle of continuous liquidation, so you can see two large declines in a row.

In response, from the end of last year, all of our mining machine layouts are machines with energy consumption below 60 watts / T , because when choosing a mining machine, we hope to provide miners with a safe and lowest-risk solution. Because when to buy what kind of mining machine, there will be different cost performance, so how to choose the mining machine is also very important.

In addition, YOUMine launched the AI intelligent mining system in advance . Originally, one mining machine could only mine one currency in BTC, BCH and BSV , but now it can mine three currencies at the same time through AI intelligent choice. According to the data of the past six months, the average income of mining machines using AI intelligent systems will rise by 3% to 5% . Youku hopes to realize more benefits through technology research and development combined with traditional financial fields . Through AI intelligent mining, the user's shutdown price has been reduced a lot, so the anti-risk ability is higher and the profit will be more substantial.

Finally, reasonable asset allocation and the use of financial means to evade the risks caused by market fluctuations to improve returns, such as hedging, hedging, etc., are all issues that we continue to focus on. We will use our best efforts to help users maximize mining revenue. Moderator Yuchi CMO Qingqing: During the bear market, we were forced to do what we had to do, and the industry continued to grow. The flood season is approaching. This flood season overlaps with the halving time. Is it possible to invest in mining at this time? Do you have any suggestions for new and old miners?

Li Chuanbin , director of the Shanghai Mining Department : For those who do n’t know much, the halving is not a fixed date. According to the current calculation power and difficulty, it may be probably May 14th . The traditional Fengshui period is in On May 26 , there will be a difference of about half a month. At present, the general mining machine return cycle has been quite long, and the whole year and Fengshui mine are forced to reduce electricity prices to retain old customers and attract new customers. If you participate in investment mining at this stage, the advantage is that two major costs are controlled: one is the cost of the mining machine; the other cost is the electricity cost of mining during the five-month Fengshui period from May 26 to October 25 . , In a relatively low state. Therefore, from the perspective of mining machine selection, I still recommend you to buy a mining machine with better survivability and the best ratio of power consumption and computing power.

In addition, the current 7- nanometer miner after the second optimization , the best is 30W / T , the secondary is 45W / T. If you participate in mining at this stage, you need to have such a psychological preparation, that is, you may encounter a situation that takes 2-3 years to recover the investment. It is particularly important to choose a good entry time point for mining. From past experience, mining machines with a half-year cycle will be a good time node for almost one or two weeks every half cycle. At present, if you want to enter mining, you can choose a particularly good model to make investment and prepare for the long-term holding of mining machines. Moderator Yuchi CMO Qingqing: Do all the guests participate in the speculation and mining at the same time? What are the advantages and disadvantages of the two for investors?

Chi Ruoran, CEO of YOUMine : mining and speculation in two directions. Mining will have the value of a physical mining machine, and when the flood season comes, we are faced with halving, and it is just an iterative process. The so-called iteration is whether the mining machine has a profit, which depends on three factors: currency price; computing power difficulty; block rewards, which is what we call a halving mechanism every four years. In fact, the currency price has been halved recently. In the process, everyone has already experienced a round of halving the risk, which is not necessarily a bad thing.

Then there will be two problems, the first is the low-end model, which may be eliminated in this process of halving, so the energy storage and performance mining of low-end machines are crucial. Another thing to consider is the choice of high-end machines.

The current mines are currently divided into three types, one mine is a general thermal power throughout the year, one is Fengshui plus dry hydropower, both of which can support the use of electricity throughout the year, and another mine is Only mines in Fengshui period are supported. After the Fengshui period, he could not support our mining machine for a long time. So the design of mid-to-high-end machines should observe or evaluate the average electricity price for the whole year. If you just look at Fengshui's electricity price, it may be one-sided for the entire income; of course, I need to reiterate again. Safety is also very important for mine selection.

Li Chuanbin , director of the Shanghai Mining Department : Personal advice: I prefer to hoard goods. It is hoarding coins and mining, not speculating coins. Tuncoin is a long-term bullish process. Currency speculation is mainly short-term and speculative. The rise and fall of currency prices can easily affect your mentality, work and life. Investors must pay attention to their proportion of funds. More flexible to deal with systemic risks; for high-end players, the risk tolerance is relatively strong, you can consider adopting a collateral currency loan to buy a mining machine mining strategy, such a combination strategy is actually also a very good choice, not a big price drop Sell 60% or 70% .

Luo Xianqi, founder of Bitao Technology : Mining is relatively stable and can be understood as adding 1x off- exchange leverage. Share 2 keywords to explain the difference. Circulation. Improve the current traditional one-shot trading form and realize high-frequency trading. Need mutual learning and promotion of the currency circle group and the mining circle business to optimize the development of the industry; balance. With the full competition in the market, a relatively stable cognition is achieved and attention is paid to cognition balance. Among them, the salesman's tireless shouting form plays a big role at present, and more people need to understand it to participate in ecological construction. . Media questions | Babbit: The flood season is coming. It is said that the electricity cost of the mine is now cheaper than in previous years. Even so, some mines are still not satisfied with the filling. Is it difficult for the mine this year? How should the mine go through this difficult period? ?

Li Chuanbin , director of the Shanghai Mining Department : First of all, it is impossible to know what position the monthly currency price will be in front of the Fengshui period. In general, the mine life will not be very good throughout the year , and the new machine like S19 will also tend to the Fengshui period. For example, for the price calculation of 0.20 yuan, the original custody electricity price has reached 40% of the custody fee . At this time, the miner must consider the relocation cost at the end of the Fengshui period, and the transportation process cannot be mined and the damage cost caused by the transportation; The Fengshui mine naturally lacks this stability. Overall, low prices are the most important. What the Fengshui mine has to do is to attract more investment. In addition, in Fengshui period, you can also consider picking up some graphics miners. The last point can be considered to sign contracts with custodian customers at cost electricity prices, to reach cooperation in the form of profit sharing, and to maximize profits. The problem faced by the entire mining industry is the need to reduce costs to increase revenue.

Media questions | Planet Daily, Cointelegraph Chinese: Chi always mentioned the function of intelligent mining. One mining machine can mine three currencies. BSV and BCH are about to be halved, which will take priority over BTC . Can the function guarantee the continuous improvement of future revenue?

Chi Ruoran, CEO of YOUMine : You need to go back to the three major factors mentioned above to make a choice: the number of block rewards, the currency price, and the difficulty of computing power. The actual halving of BCH and BSV in advance will have a great impact on BTC , because a large number of miners may transfer their computing power to BTC , resulting in the decrease of the difficulty of the entire BSV and BCH and the increase of BTC . The intelligent mining system launched by You Mine: real-time monitoring of the income of the three currencies to adjust the computing power in a timely manner is completely based on the acquisition and analysis of real-time data to perform, so it can more ensure the stability of mining revenue and will improve the characteristics Therefore, the halving time of different currencies does not affect the intelligent mining system of Friends.