"Huobi University" cow computing power Wang Chong: Mining is the top business in the blockchain investment field

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2021-01-18 06:38

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Wang Chong said: "You will never make money beyond your knowledge, unless you rely on luck, but the money you make by luck will often be lost by strength in the end. This is an inevitable trend. .Every penny you earn is the realization of your knowl

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On January 7, 2021, at the "Riding the Wind" Yu Jianing's New Year's speech, as a guest, Wang Chong, the founder of Dainiu Computing Power, shared the logic and opportunities of digital mining investment.

In Wang Chong's view, digital mining is a business at the top of the pyramid in the blockchain investment field, and it is also the underlying infrastructure of the blockchain. Without digital mining, there is no blockchain cybersecurity. In terms of the logic of digital asset investment, he believes that regular investment and digital mining are the best ways for blockchain startups to enter the market.

The following is the essence of Wang Chong’s speech:

I am an early blockchain player. The so-called players were only playing with Bitcoin and Litecoin at first, and then there was Ethereum.

When I first played, Bitcoin was a few hundred yuan, and a few thousand yuan was a piece. At that time, I was just playing with coins, I didn’t understand the blockchain, and I thought it was speculation. We had no confidence in whether this thing could really exist or how long it could exist. In the past few years, when it comes to blockchain, mining, and mainstream capital, mainstream people don’t quite recognize it. Entrepreneurs and explorers in this industry have experienced a lot of grievances and even a lot of distrustful eyes along the way. come.

But we also see change. Today, there are already many excellent traditional entrepreneurs, investors, and even people from family wealth management offices to understand, deploy digital assets and mine.

Before the speech starts, I want to give you a sentence. This sentence has a great influence on me, and it affects my main career in digital mining.

"You can never make money beyond your knowledge. Every penny you earn is the realization of your knowledge, and every penny you lose is your lack of knowledge of the world. "

In the past 10-20 years, the Internet era has changed very quickly. If you think back to 5 or 10 years ago, we did not have Meituan, Didi Taxi, Douyin and Kuaishou.

But when I was exploring the blockchain industry, I discovered what is called "one day in the blockchain, one year in the world."

The past 2020 has been a year of ups and downs. At the beginning of the year, due to the drying up of global capital liquidity, the currency circle ushered in a catastrophic moment on March 12. Bitcoin plummeted from 8,000 to 9,000 US dollars per coin to 3,800 per coin. It ushered in the popularity of IPFS and DeFi, and the explosion of digital assets at the end of the year.

We must keep learning in this industry, and constantly improve our cognition so that we may not be left behind.

The value and significance of digital mining

People who do not understand blockchain and digital currency will be unfamiliar with blockchain mining. In fact, China is far ahead in the digital mining industry, and most of the various mining machines are produced in China. This is the pride and pride of the Chinese people.

What does mining have to do with blockchain?

First of all, the mining industry is a business at the top of the pyramid in the blockchain investment field. Mining is a game of local tyrants + experts. What machine and model to buy, when to buy, how to complete deployment and operation and maintenance, and how to mine coins are all technical, so this is the business of experts. On the other hand, mining machines are very expensive. According to today's machine prices, an ordinary family can only buy 5 to 10 machines with an investment of 100,000 to 200,000 yuan. Mining investment requires high funds.

Second, the mining industry is the basic infrastructure of the blockchain. Today's Bitcoin and Ethereum both use the POW mechanism. Without mining, there will be no network security. Bitcoin is now worth more than 200,000 RMB. If the network is not secure, your transfer will be revoked and faked. Do you think Bitcoin will still be valuable? If there are no miners, Bitcoin, including the current Ethereum, will become worthless .

In addition, the digital mining industry is already a very complete ecology, which includes integrated circuit design, chip design, research and development, production, manufacturing, mining machine assembly, packaging and testing, trade, mine construction, machine operation and maintenance and after-sales service. The matching of terminal finance, as well as the computing power platform and the service platform of joint mining, etc.

This ecology contains real business of hundreds of billions of RMB per year. It is a very complete ecology, and each ecology has excellent practitioners.

Mining is equal to buying coins at a discount

Today's Bitcoin is 36,000 US dollars, and Ethereum is 1,100 US dollars. Why do you need to mine, because mining is equal to buying coins at a discount. In addition, it is easier for people who mine to hold coins. Digital assets will be very important in the future, and the allocation of digital assets is something that everyone should keep in mind.

When you come into contact with and configure digital assets, you will often pay close attention to seeing the fluctuations in currency prices. I am very happy when it rises, but depressed when it falls. It is more normal to be unable to hold on to the rise, and cut the meat when it falls. But mining is equivalent to buying coins at a discount, and it is easier for people who mine to hold coins and not miss the bull market.

I very much agree with President Jianing's point of view that digital assets will become family heirlooms in the future.

But how do you earn more coins? I have seen many people buy digital assets at a low price, and toss until the end of the digital assets are getting less and less, including myself.

I am now a staunch coin-mining and hoarding party, because I find it difficult to earn coins in the blockchain world. As for mining, as long as you can endure loneliness, there is a high probability that you can earn more coins and hold them for a longer period of time.

Huobi University also invited a number of outstanding alumni, starting from their own industries such as live broadcast e-commerce, catering, film and television, games, etc., to share what they see, think and feel about using blockchain technology to empower traditional industries.

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Yu Jianing's "Riding the Wind" New Year's Eve speech was hosted by Huobi University and shared live at the Hangzhou Grand Theater. In a 3-hour speech, Yu Jianing, the rotating chairman of the Blockchain Special Committee of China Communications Industry Association and the president of Huobi University, focused on the theme of "Riding the Wind" and focusing on "Blockchain and Blockchain" in the next ten years. "Digital assets" is the core of the digital era, sharing the latest observations and in-depth thinking on cutting-edge trends.

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