Guests:
Guests:
Wang Ruixi, the founder of Hoo Wallet, an early Bitcoin player, a well-known investor in the blockchain industry, the richest man in EOS RAM, has been interviewed by CCTV many times, and is one of the first batch of entrepreneurial pioneers in the blockchain industry in China.
In 2013, he founded the bitcoin navigation website BtcMini; in 2014, he served as the CEO of Chengdu Bitspring; in 2016, he wholly acquired Hashpower. In the same year, he founded the BATPool mining pool and served as the CEO.
host:
host:
Wang Hui, Founder of Bolian Finance
The following is the transcript of this interview:
The following is the transcript of this interview:
Bolian Finance: You started to enter the blockchain in 2013 and sold mining machines at the beginning. How did you get in touch with this field at that time? What did you do before entering the blockchain?
Wang Ruixi: Before I entered the Bitcoin industry, I worked on development and products at Tsinghua Unigroup. In the first half of 2013, I once heard the term Bitcoin in a chat with my colleagues. Compared with the Q coins we were familiar with before, it was very novel. Out of curiosity, I started searching the Internet for information about Bitcoin.
image description
BtcMmini website interface
Later, Bitman's aiwill took me and Sun Xiaoxiao to Shenzhen Roasted Cat Company in Beijing.
Bolian Finance: Some people say that you always have something to sell to others and you know what other people want. What was the situation in the mining machine circle at that time? How did you break into this circle?
Wang Ruixi: I like to delve into products, and I can discover the characteristics and deficiencies of products.
After entering Roasted Cat Company, I don’t know much about the mining machine industry, including power installation, transformers, mining machine chip manufacturing process, power consumption ratio, etc., so I have to bite the bullet and learn quickly. Thanks to Roasted Cat, Wang Song and Zhuang Zhuang who helped me at that time.
Bolian Finance: Everyone is familiar with the situation of roasted cats. What are Wang Song and Zhuang Zhuang doing now? Could you please introduce them.
Wang Ruixi: Wang Song was also engaged in a mine with me before, and later (leaved) due to some personal reasons, and now he may be opening a school.
Zhuang Zhong is now the CEO of BTC.com under Bitmain.
Blog Chain Finance: Some people call you a "mining machine loser". How long have you been doing it? It seems that soon you started a step-by-step layout, built a mining pool, and built an ICO platform. What kind of business plan do you have after entering the industry?
Wang Ruixi: Due to personal experience, I am familiar with buying and selling mining machines. Some people will think that I am a "mining machine loser". (This) may be some errors in understanding.
In terms of business planning, because of the experience of selling mining machines and mining, first do what you can and will do, and then expand new businesses step by step.
In order to expand the scale of mining machines and mining farms, I purchased the computing power, so that more people can mine with me to earn more bitcoins. It is precisely because of the continuous business extension that the Lifangtou ICO platform has been launched again.
On September 4, 2017, the People's Bank of China froze the bank account of our Shenzhen company, and the Shenzhen Finance Office asked us to talk to us and persuade us to withdraw from the ICO platform. Due to policy reasons, we chose to clear the platform assets and closed the platform on the premise of ensuring the safe withdrawal of user assets.
Later, due to the development of business, the company's personnel has expanded to a certain scale, and we always firmly believe that this industry will change. Also out of business continuity, our own needs and industry pain points, we finally chose to deepen the development of the underlying technology of the blockchain. And hatched a wallet development team in Hong Kong, providing full assistance in terms of capital and technology. This is the Hoo.com wallet that everyone sees now.
Broadchain Finance: From another point of view, some people think that doing one thing requires more concentration. Recently, we have also seen that you have started to promote wallets with all your strength. What are your considerations among these businesses? What does Hoo Wallet mean to you?
Wang Ruixi: A considerable number of people who enter the blockchain industry will experience a period of confusion, not because they don’t know what to do, but because they see the birth of a new industry, where dividends and opportunities coexist, and they want to do everything, including myself .
After experiencing more bull-bear cycles, you will slowly settle down. Everyone knows that concentration is the basic condition for success, so I am now devoting myself to the matter of Hufu Wallet, so that Hoo users can experience the best quality experience and service.
Hufu Wallet is my own son, and I have devoted all my energy to it.
Bolian Finance: Entered at the high point in 2013, and fell sideways for two years in 2014 and 2015. In fact, it is somewhat similar to the current market. What was the status of the entire industry at that time?
Wang Ruixi: Since 2014, Bitcoin has been in a downward phase, and it has been falling continuously, with a minimum of 900 yuan. At that time, in order to survive, the exchange began to play the card of "permanent fee-free". For many people at that time, it seemed that the industry was on the verge of collapse.
However, those who believe in the future of Bitcoin are still holding on, while those whose confidence is shaken choose to leave.
Blog Chain Finance: In 2015, many people left and came back later to catch up with the wave of bonuses in 2017. What was your situation at that time?
Wang Ruixi: After Roasted Cat lost contact at the beginning of 2015, I sold the company's remaining inventory machines and started looking for mines to mine bitcoins. In 2016, it fully acquired Hashrate, and began to sell the hashrate of the mine online.
Before the outbreak of ICO, I had already invested in several blockchain projects. It is felt that the ICO model has changed the current project financing method.
Because of our technical accumulation, we launched the Lifangtou ICO platform within a week. The main starting point is to help projects raise funds.
The cryptocurrency industry is changing with each passing day, and the industry often uses: "One day in the currency circle, one year in the world" to describe it.
Bitcoin is a social change. I am afraid that I will be eliminated by society after I leave. So from 2013 until now, I am still insisting on learning more new knowledge and ideas, and meeting more friends. Although the entire global economy It is in a downward stage, and the blockchain industry is relatively sluggish at present, but I am more confident in the future "Bitcoin will change the world".
Blog Chain Finance: You are still the holder of the most EOS RAM (people in the world are called the richest man in EOS RAM). When did you start paying attention? Why are you so optimistic about EOS RAM?
Wang Ruixi: When the EOS mainnet was launched, I was very excited when I learned about the bancor algorithm. I felt that this was a milestone innovation. At that time, the industry also said that EOS was blockchain 3.0.
I am not only optimistic about RAM, but also the layout of the entire EOS ecosystem. The current market is very poor, but the most active public chain is none other than EOS.
EOS-based exchanges, wallets, DApps, and EOS sidechains have brought together a considerable number of developers to build an ecology. The bright future of EOS does not belong to BM and B1, but to these hard-working developers. There is no reason not to be optimistic The ecological development of EOS.
Bolian Finance: We have also seen that the price of EOS RAM has also plummeted in the case of a downturn in the market. As mentioned earlier, you have always thought that you have something to sell to others. When will the demand for EOS RAM explode in your opinion? Have you ever regretted the layout of EOS RAM?
Wang Ruixi: In the cold winter of the global economy in 2018, the industry is also in a silent bear market, which will lead to no new capital inflow for a long time.
For outsiders, the popularity of EOS still has some thresholds, and it takes time to iterate.
In addition, investment itself is a risky thing, and no one can guarantee that every investment will be profitable.
Regarding the investment in EOS RAM, it doesn’t matter whether I regret it or not. The important thing is that I tell you with practical actions that I firmly believe that the EOS ecology will develop better and better. The investment in RAM is the embodiment of my belief that I am optimistic about EOS.
Broadchain Finance: In a bear market, what is your investment philosophy?
Wang Ruixi: Be prudent, don’t buy bottoms blindly, and don’t panic blindly. The bear market is a good time to learn, learn more about the ecology of the currency you invest in, and make a choice that suits you after quiet thinking.
Broadchain Finance: In the past 6 years, what was your most satisfying investment, and what was your most unsuccessful investment?
Wang Ruixi: The most satisfying thing is to enter the industry because of Bitcoin. It’s hard to say which one failed the most, even if it is unavoidable and almost everyone has invested in some zero coins, but the experience and lessons of that failure are also valuable wealth.
Blog Chain Finance: Wallets don’t seem to make money at the moment. Does this seem to be different from the logic of your businessman before?
Wang Ruixi: A businessman is someone else’s label for me. I don’t think I’m a businessman. I’m a serial entrepreneur. I love this industry, so I’ve been steadfast in this industry.
My small goal is no matter how many bulls and bears I have experienced, I hope that I can go through big waves with my team and secure my place in this industry.
The wallet has its own way of making profits. Surviving a bear market is already a top priority for any team. It is not easy for us to support the team while ensuring the steady appreciation of users’ assets in Hufu.
Blog Chain Finance: Many people said that this cold winter will last for a long time. What do you think? How will you prepare?
Wang Ruixi: It’s normal for one or two years. I agree with Lao Luo’s New Year’s Eve speech: “People who do things don’t care whether they are pessimistic or optimistic. We only care about how to do things well.”
Therefore, under the condition that there is no problem in survival, all our focus is on optimizing the product of Hufu, and at the same time polishing the resilience and combat effectiveness of the team.
Broadchain Finance: 2019 has come. For the new year, what new opportunities do you think deserve our attention?
Wang Ruixi: As of 2018, the number of funds managed by global digital assets has exceeded 500, and the scale of digital currency funds under management has exceeded US$10 billion. With the rapid growth of digital currency, more and more PE, VC, Token Funds, family funds, etc. are all investing in digital assets.
In the context of the continuous expansion of digital asset scale, the demand for enterprise-level digital asset management has soared, and the industry urgently needs a mature enterprise-level digital asset management solution. I believe that a trend in 2019 will fall on the enterprise-level fund custody.
Bolian Finance: Our column is called "Apocalypse of the Bull and Bear". What do you think is the most important point of crossing the bull and bear?
Bolian Finance: Our column is called "Apocalypse of the Bull and Bear". What do you think is the most important point of crossing the bull and bear?
Wang Ruixi: Don’t forget to stick to the original intention. I believe that this industry has hope and future, so I will take root and struggle here. Earn money and save money in the bull market, and the bear market will flow slowly. If you stick to it for a long time, both individuals and companies will definitely gain.
Blog Chain Finance: What does freedom of wealth look like in your eyes? If you leave the blockchain, what industry will you be in? Or what to do?
Wang Ruixi: I don't have a particularly sensitive concept of wealth. As long as I have the funds to support what I want to do in the industry, I am content.
If I leave the blockchain, it should be when I am old, (I will choose) to retire and travel around the world.
Broadchain Finance: If you were asked to recommend 3 people to participate in this column, which ones would you choose? Why?
Wang Ruixi: 1. Bitpie Wenhao, he is an old friend who traveled with me through bulls and bears. Over the years, he has never stopped moving forward, focusing on operating the Bitpie product. There are many wise views worth learning from .
2. Huobi Li Lin, I think everyone must also want to know how the exchange crosses bull and bear.
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