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guests

Mint, Mixin COO

Early digital currency investor, one of the early builders of the domestic Bitcoin community.

In 2012, translated and introduced a large number of Bitcoin-related articles; participated in the compilation of Bitcoin and blockchain industry terms, and participated in the translation of books "Mastering Bitcoin" and "The Secret Behind Currency".

In 2015, joined Bitmain and was responsible for investment-related affairs.

In July 2017, joined the INBlockchain core team and was responsible for the BigONE exchange affairs.

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The following is the transcript of this interview

Blog Chain Finance:Mint:

Mint:When I entered the circle, it was quite accidental. At that time, I saw a post on Douban. The story told the story of a 9-year-old boy who got a lot of bitcoin rewards by running a computer program, and then he bought it for his beloved teacher. A Porsche. I was very curious about why the reward for running a calculation and program was valuable. At that time, it took two or three months to check the information and slowly understand some basic principles.

At that time, I only used Baidu to search for information, and then I found out that Changjia was engaged in Bitcoin, so I followed him on Weibo. He was a personal webmaster at the time. Later, the idea of ​​being a Bitcoin community was born, and I became the moderator of the first batch of Babbitt forums. At that time, the registered UID was No. 89, I still remember it now.

After August 2013, the market cooled down. I remember that the price of Bitcoin was halved from 8,000 to 4,000, and then slowly fell to 900 at the beginning of 2014.

Everyone in the community was very uncertain at that time, really desperate, not sure if this industry will disappear tomorrow or the day after tomorrow. This industry has no boundaries. Many people see the abyss, but very few people who stick to it can see the endless.

I stayed in this industry because of luck, because the people I started with were people who came together just to like the idea of ​​Bitcoin. Changjia and Wu Jihan were both early preachers. They had a great influence on me. Babbitt, founded by Changjia, has been producing content for many years. Wu Jihan was also the earliest author of Satoshi Nakamoto’s Bitcoin white paper. translator.

Blog Chain Finance

Blog Chain FinanceMint:

Mint:Regret, it is impossible to regret it. My character is not a person who will turn back, even if I let go, I will not think of picking it up again. So once I make a decision, I will only move forward and never retreat; if there is a chance, I will definitely choose to come in again.

I don't have a prestigious school background, and I don't have any special professional financial knowledge. If I want to choose a career in this industry, I need to learn a lot of things I haven't been exposed to before, because my undergraduate degree is law, and my graduate degree is sociology. Therefore, it is a bit difficult to study economics and finance.

But how to put it, I think my needs of the currency circle have been basically met by now. The company of a group of like-minded partners and wealth across classes will also give me professional satisfaction in the future. I didn’t want to leave before, and I don’t even want to leave now. Let's go, but I don't rule out wanting to go out and have a look in the future.

I think the blockchain industry is developing too fast, and practitioners need a very strong learning ability to keep up with such an explosion. Now excellent practitioners in the financial industry and the Internet have entered this circle, which puts a lot of pressure and motivation on practitioners to iterate the knowledge base.

Blog Chain Finance:Mint:

Mint:The way I make money is relatively old-fashioned, which is to hoard coins. Hoarding coins is the simplest investment strategy that everyone can learn to make money in the long run. This year's bear market mining will suffer a lot. In the bear market of 2014 and 2015, it took a long time to make money from mining. At that time, I had the impression that the computing power of each mining machine was several T, and the payback period was three to half a year. It varies from year to year. Yesterday, I saw the sharing of the proprietress of Yuchi. Recently, the loss will be quite miserable if you invest in the mine. The lowest electricity price in China is now at an average price of 0.25-0.3 yuan, and you will lose money when you start it up.

If it is aimed at entrepreneurs, it is difficult to do both to B and to C businesses. Now everyone in the industry is laying off employees to increase efficiency, maintain a relatively small team, and survive the bear market. MiXin's current team maintains a size of 20 people, which is a great advantage.

As a public chain, at this stage, it is focusing on the development of the main network, the construction of the developer ecosystem and the construction of the DApp ecosystem.

Blog Chain Finance:Mint:

Mint:I went to school in Yunnan in 2013, and joined Babbitt's translation team in 2014. At that time, there was a book of sand project. The part-time post is Bitcoin, and I can probably earn 0.1-0.2 BTC for the translation of an article. Thinking about it now, I am very happy.

Some interesting things happened in 2014. After I went to the border to do drug research, a 6.4-magnitude earthquake occurred in Yunnan in August. At that time, the One Foundation accepted bitcoin donations for the first time. A public welfare organization called Warm Four Seasons established by the currency circle donated some bitcoins, which were later exchanged for supplies, which I brought to the earthquake-stricken area.

In June 2015, I went to Hangzhou, and after chatting with Changjia, I decided to intern at Babbitt as the editor-in-chief of the altcoin (altcoin) section. I met Wu Jihan at an event in Shanghai, chatted for a while, and then went to Bitmain in August and became Guan Peisheng. At that time, I didn't have a strong purpose to say what I wanted to do, I could only learn more.

During the bear market, I slowly accumulated my skills. When I went to Bitmain, I only passed level 6 in English, and my level was not very good. Later, I felt that it was necessary to improve. I remember that the internship salary was 4,000 yuan, and I signed up for a 40,000 yuan language training class (it still hurts to think about it now). However, English is added, and it is no problem to read technical documents and white papers.

The same is true for running a business. At that time in 2014 and 2015, Babbitt had difficulty in financing, and Changjia was running around, paying for it to continue to produce content. Bitmain was also struggling in business, and had a backlog of mining machines that could not be sold, and then slowly got over it.

Blog Chain Finance

Blog Chain FinanceMint:

Mint:The curve of Bitcoin has gradually become regular, and it will not fall below the lowest holding cost in the previous wave, which is 2000-3000 US dollars.

Blog Chain Finance:If there is a bull market in the future, what kind of environment will it be born in, and when will it come?

Mint: The technical iteration cycle of the blockchain is getting shorter and shorter, because more manpower and resources are gathering in this industry. Don’t look at the current coldness. When the market rises, everyone will find that so many teams are already preparing for battle status. (Markets) It will definitely not last for more than two years like before.

BitCoin has many global influence factors. The political and economic fluctuations of each country will affect the price of BTC. 99% of the blockchain assets in the market, except for the special category of stable currency, will basically follow the trend of the BTC market. It can be said that BTC is the benchmark of blockchain assets.

In the past, the currency of the Venezuelan country fluctuated greatly, and the price of Bitcoin could be driven up and down by about 20%.

Of course, the volume was small at that time, and now it mainly depends on Wall Street. Last week, an order of 200,000 bitcoins appeared in the OTC circle. I have not verified the authenticity, but traditional capital money is entering the market. Things that happen all the time.

Samsung Group hoarded a large amount of bitcoins before 2013.

So I think it would be nice to have a year to give practitioners a breather. Everyone really doesn't sleep during the bull market.

Blog Chain Finance:"Roasted cat stock" was a magical existence in the last wave of bitcoin investor circles. If it is still there, there will be no such thing as "Mine Tyrant" Wu Jihan. If you see roasted cats again, you most want to follow what did he say?

MintBlog Chain Finance

Blog Chain Finance: As an early employee of Bitmain, when did you join the job? When did you leave and why did you leave? What inspired you to start your own business?

Mint: I went to Beijing in August 2015, and then left in 2016, staying for almost a year. In 2016, the smog in Beijing was still severe, and the air was too bad. At that time, I wanted to rest for a while. Entrepreneurship is hard work, and I participated in MiXin mainly because I saw potential directions.

Blog Chain Finance

Blog Chain Finance: What impact do you think will have on Bitmain in this BCH fork? Canaan Creative’s IPO has been suspended. What do you think of Bitmain’s IPO? Does it have such an impact on the industry?

Mint: The fork of BCH is a good thing for the community, and it is also inevitable for the development of the blockchain. This community must be multi-centered or weakly-centralized. For Bitmain, the financial report will not look good.

It is still difficult for the IPO of companies in the currency circle to make a reasonable explanation for the digital assets obtained in the company. Our country is not a "case law" country, and there is currently no written law to define digital assets.

There is still a long way to go. In 2014, the Martians in Australia also planned to list BITCOIN GROUP. The first time a company in the currency circle failed to go public, and Canaan (Avalon) was the second time. This is Bitmain’s third attempt by a company in the currency circle. If the market continues to go bearish, it will still be difficult for Bitmain to break through.

I am also looking forward to the successful listing of companies in the currency circle, which shows that this industry has been recognized by tradition. But to take a step back, going public is not the only way to go. From a certain perspective, it is a regression of the decentralized community. So I wish Bitmain, regardless of whether the listing is successful or not, it is progress for the development of the industry.

Blog Chain Finance:Mining machine is the best business model in the blockchain field besides the exchange? Why miners take the lead in IPO?

Mint: The mining machine itself is not the best investment target, but it is an investment product that many traditional investors will try when they enter the currency circle. The mining machine should be the first perfect combination of [virtual economy] and [entity] in the currency circle, which is considered a transitional mode. It provides cash flow to enterprises when the market currency price is relatively stable.

But in fact, if you use the same amount of money to invest in digital currency and mining machines, dig out the coins to pay off the electricity bill, and then recycle the money you earn from frying coins to invest in mining machines, your income will actually decrease exponentially. of. But mining machines are indeed a better way to obtain cash flow in a certain period of time.

In my opinion, the IPO of mining machine companies is due to the financial reports and relatively stable income that traditional investors can understand. Market risk is still great.

Blog Chain Finance:Mint:

Mint:Bitcoin’s consensus is only strengthened by the collapse of other blockchains’ consensus. Some blockchains can have borders, ideologies, and colors. Bitcoin does not. Bitcoin is global and was nurtured by global community evangelists. It has nothing to do with Satoshi Nakamoto for a long time. Compared with Bitcoin, Satoshi Nakamoto is more like a symbol now.

If Bitcoin could die, it would have died 10,000 times.

The current blockchain market is very early. In the early days of this "decentralized" or weakly centralized system, it must be accompanied by multiple small centers. Once a strong "giant" appears, it will be very popular in the market. It is about to be diluted and become multiple weak centers, so in the early days of the blockchain world, if you want to survive for a long time, it is very important to choose "like-minded" allies and form an ecological alliance.

Blog Chain Finance:Mint:

Mint:Satoshi Nakamoto, Vitailk, Jihan Wu. They are the game-breakers of three important milestones in the history of Bitcoin.

Blog Chain Finance:Mint:

Mint:MIXIN NETWORK is a lightning network that links all blockchain assets. On MIXIN NETWORK, cross-chain asset transactions can occur. What do you mean, my Bitcoin can be exchanged for your Ethereum? In the MIXIN network, it can be done Very fast confirmation, no transfer fees, and every transaction is visible and traceable on the chain.

The advantages over other public chains are:

1. Support all high-quality blockchain assets; currently supports 13 public chains and more than 50,000 digital currencies;

2. Transfer between users is free;

3. All transaction records can be checked on the chain;

4. Support commercial-grade applications;

For developers, the advantages and disadvantages of DApp development on Ethereum and EOS are that Ethereum has a small concurrency and can only confirm 20-40 transactions per second, while creating a developer account on EOS requires EOS mortgage, which is complex and expensive.

MIXIN NETWORK greatly reduces the development cost of DApp, free account creation, unlimited concurrency, fast transaction confirmation speed, support for multiple languages, and extremely low development cost.

Blog Chain Finance

Blog Chain FinanceMint:

Mint:Mixin has recently launched a developer competition, and the core code and DApp have been under development. Just for the MESSENGER DApp, the frequency of team updates is basically twice a week.

We have several very good DApps running, Japan's largest market software COINVIEW, MESSENGER, and a decentralized exchange, OceanONE.

At present, we have not encountered any competitors on the track of cross-chain protocols. We are also experimenting with more possibilities. At present, the major timelines are the mainnet launch in February next year, and then OceanONE will also change from the Beta version to the official version. In addition to the cooperation with Nepalese financial institutions, we have several other cooperations that cannot be disclosed so far. The most important thing for us now is to build a solid foundation first.

Blog Chain Finance:Mint:

Mint:The person I want to thank the most is a kind and peaceful fat uncle (old cat) who is now in Tokyo.

Uncle Mao’s judgment on the industry is very precise. He can capture the opportunity of the outbreak of ETH and EOS, and he brought Laoyuncoin to the sky that year.

Since 2017, Uncle Cat has been taking me to analyze the market and guiding me in asset allocation. It was also under the guidance of Uncle Cat that I was able to get in touch with EOS quickly, and came in at 3 yuan to realize my small dream. Thank you Uncle Cat!

Ask:

Internet interaction

Ask:Mint:

Mint:Ask:

Ask:Mint:

Mint:From the white paper to the evangelist's articles, the birth of Bitcoin has never reflected [to replace the central bank], but only provided a value transmission mechanism adapted to the birth of the Internet. The Internet has enhanced global information exchange, and Bitcoin has enhanced global value exchange, which is equally great.

It’s good for the chain circle to continue to focus on technology. The central bank’s researchers have a group dedicated to the study of decentralized networks.

ask questionsMint:

Mint:MIXIN does not use a very complicated method like other cross-chain protocols, but adopts an engineering method to include all excellent public chains into MIXIN, and also supports future excellent main chains.

Technically speaking, MIXIN follows the data structure of Satoshi Nakamoto's UTXO, making transactions simpler, free, and able to meet the needs of commercial concurrency.

Bitcoin is actually a master, and it has not invented anything new.

MIXIN is the same, not trying to invent new wheels, but using engineering methods to make the blockchain network faster and more convenient.

The meaning of MIXIN is, MIX ALL BLOCKCHAINS IN ONE NETWORK.