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Whether cryptocurrency trading or mining is more profitable is a very controversial topic in the industry. Among the cryptocurrency speculators, some people have indeed gained financial freedom by seizing a certain opportunity, but more people in the cryptocurrency speculators group have lost money due to various tricks. The reason why many people look down on mining and are keen on cryptocurrency speculation is that the imaginary space for cryptocurrency speculation can better satisfy the fantasy of getting rich overnight, while the static payback period of hundreds of days often discussed by miners seriously deviates from their fantasy of getting rich overnight . Most of those people who dream of getting rich overnight by speculating in cryptocurrencies have ended up with their positions liquidated; but for those who honestly mine and hoard cryptocurrencies, time is their friend, and as time goes by, they accumulate wealth . Miners are the most qualified to talk about what mining is like. This time, we at Zhikuang University interviewed several B.TOP users to listen to their mining experiences and insights. To protect the privacy of our customers, their names have been replaced with letters. 01
From cryptocurrency trading to mining Ms. Q, a client of Litecoin, works in the real estate industry. She learned about Bitcoin through her younger brother in early 2017. After experiencing multiple liquidations, she participated in mining in 2020. I first came into contact with Bitcoin in early 2017 through my younger brother. He likes to pay attention to new things, and he came into contact with Bitcoin. After thinking about it for a while, he felt that Bitcoin was worth investing. At that time, he didn't have much money, so he ran to tell me about it. I trusted my younger brother very much and gave him some money to operate. The timing of entry was quite good, just at the beginning of the bull market. The price of the currency was around 8,000 yuan. At that time, there was really gold everywhere. My brother quickly made three or four million from hundreds of thousands . At that time, the whole market was making money, and almost no one lost money. Soon 94 came. The saying that profit and loss come from the same source was true for my brother. Under the high leverage, the millions of dollars he had earned before were lost, and the principal was also lost . This liquidation taught us a very painful lesson. This liquidation did not change my view on Bitcoin, and I continued to buy Bitcoin. Around September 2019, leverage caused me to blow up my account again . At that time, the market was picking up momentum, and my brother started to play with some altcoins again, and added high leverage. At that time, there was a big spike, and the few bitcoins I used to cover my position were blown up. Looking back on my three years of experience in cryptocurrency trading, I quickly made three to four million yuan with a capital of hundreds of thousands of yuan. In the meantime, I experienced being harvested by altcoins and had my futures leverage liquidated twice. I had a roller coaster experience in cryptocurrency trading and awe of the market, but I didn't really make any money . After I decided not to speculate in cryptocurrencies, I would still buy some bitcoins at the right time and keep an eye on the developments in the industry. At that time, I happened to follow Mr. Jiang’s Weibo. I often followed his updates, and he often pushed articles from Zhikuang University. From that time on, I began to pay attention to mining. At that time, I felt that the capital and technical thresholds for mining were relatively high, and it was not very friendly to small retail investors, so I did not have a deep understanding. Of course, I later found out that this was a misunderstanding on my part. I got to know mining thanks to my brother's efforts. In May this year, a WeChat group owner said he wanted to build a mining farm and asked everyone in the group about their investment intentions. My brother told me about this. At this time, I thought of Mr. Jiang and the Litecoin Mining Pool. I have been following Mr. Jiang on Weibo for about a year and I really agree with his investment philosophy. Through his blog posts, I feel that he is a decent and reliable person. In my opinion, mining should first cooperate with Mr. Jiang . This idea was supported by my brother. I left a message to Mr. Jiang on Weibo, and Mr. Jiang replied to me quickly. To be safe, I also asked my friends to come to Mr. Jiang's company to have a look. I was deeply impressed by the professionalism of the reception staff. I immediately decided to participate in joint mining. It was May at that time, and I bought more than 100 S19s in total. This batch of machines also experienced disagreements with Bitmain, and it took a long time to get the goods. I was very anxious at the time. Mr. Jiang assured the customers who bought this batch of machines at that time that if Bitmain did not ship the machines, he would collect the machines from the market and give them to customers. This gave us a reassurance . In September, we finally got the machines. Before I got the machine, Litebit organized a field trip to the Sichuan mine. I thought that more than 1 million yuan was a big investment, so I should go and have a look. I signed up. Seeing the rows of factories, mining machines and busy workers in the mine, I felt more at ease. After I got the machine in September, I made over 4,000 yuan a day at first, which made me feel very comfortable. Then the price of the currency kept rising, and by November, the income was rising every day, from over 4,000 yuan to over 5,000 yuan, over 6,000 yuan, and over 7,000 yuan. Recently, I often make over 10,000 yuan, which is much higher than my work income. I feel comfortable and happy every day . I roughly calculated the return on investment. I have mined more than 9 bitcoins in total. The market price of the S19 mining machine has almost doubled. A rough calculation of the computing power shows that I have earned nearly 3 times . According to the current currency price and income, in about a month, the net income from mining will cover the cost of buying the machine, which will take less than 5 months from the beginning of September to the end of January next year. This is completely beyond my imagination. When I bought the machine, I calculated that the static payback period was more than 500 days, but it was paid back in less than 150 days. Mining in Litebit not only makes super high returns, but also completely worry-free . After transferring the money to the Litebit company account, you will receive a purchase contract with the official seal and a formal invoice. The whole process is very compliant. For a layman like me, the whole process is very worry-free. Litebit provides one-stop service for everything from purchasing, transporting, delisting, and migrating mining machines. What I do every day is to check the income in my account, which is very comfortable. If I encounter some questions, I can get professional and patient answers from the customer service staff in a timely manner. Investing in mining is the most successful decision this year. I want to follow Mr. Jiang to mine in the future and consider additional investment at the right time. 02
Turn over a new leaf: Give up speculating in cryptocurrencies and focus on mining and hoarding cryptocurrencies Brother H, a client of Litecoin, is the owner of a physical business. He learned about Bitcoin from CCTV-2 in 2016, started to speculate in Bitcoin in April 2017, and participated in Litecoin joint mining in June 2020. I have heard of Bitcoin a long time ago, but I really started to pay attention to it in 2016 because the CCTV-2 Economic Half Hour reported on Bitcoin. Since then, I have taught myself about Bitcoin. I know that Bitcoin has the characteristics of scarcity, anti-censorship, and cryptography to ensure its security . I also read some books on Austrian economics and understand some monetary history. I think Bitcoin has great prospects. I started buying coins in 2017, but ended up losing money. Around April 2017, I started to gradually buy Bitcoin, when the price was around 8,000. The price kept rising, and I kept adding to my position. Then the 94 regulation came, and the price of Bitcoin plummeted from more than 30,000 to more than 10,000. I judged that the state power was suppressing it, and the panic was serious, so I sold at a loss. I was very anxious during those days and couldn't sleep well . I entered the market relatively early, but I still couldn't escape the fate of losing money in cryptocurrency trading. I experienced the climax of the cryptocurrency circle in January 2018, but I still lost money in cryptocurrency trading. Cryptocurrency trading is very anti-human. When the market rises sharply, people become greedy, always worried that they will sell out and not be able to buy back, and are reluctant to sell; when the market falls sharply, they become very scared and dare not buy. In the end, they only earn paper wealth, but the losses are real . Many people who trade in cryptocurrencies should have had similar experiences as me. After 1994, I almost stopped speculating in cryptocurrencies, but I have been following the developments in the circle and occasionally buying some coins to hoard. I don’t do short-term trading. I have been following Mr. Jiang’s Weibo for a long time, probably two or three years. I agree with many of his views. For example, Mr. Jiang has repeatedly emphasized that speculating in cryptocurrencies = online gambling and drug abuse, which I deeply understand. Mining and hoarding coins is the right way to get rich . It is precisely because of my long-term attention to Mr. Jiang and the agreement of many of his views that, although I have never met or known Mr. Jiang, I have seen that this investment strategy of mining and hoarding coins has withstood the test of time, and I slowly began to practice Mr. Jiang’s concept of mining and hoarding coins. Before I decided to mine, I did some research. I visited many cities and mining companies, including Beijing, Shanghai, Shenzhen, and Chengdu. Of course, I also visited Litebit. I learned about various forms of cooperation, such as cloud computing power, mining machine hosting, and joint mining. After a round of research, I think Mr. Jiang's joint mining is the most suitable form for me. For novice users outside the circle, there are potential pitfalls in every link of mining. I have also seen this in the article of Zhikuang University. Litebit's joint mining provides a full set of one-stop mining services, and also has the ownership of mining machines, which is the most friendly and worry-free for me . The first batch I bought was the M21S that was launched in June this year. The income was very stable, and then I added a few batches. The coins mined were mainly hoarded, and a small part was sold for capital turnover. Mining is investing in real enterprises, and there are stable incomes every day. The mentality of looking at the rise and fall of the coin price has become much better . If it rises too much, I will sell a little. I am not afraid of selling it at a loss, because the mining machine produces every day. If the coin price plummets, I will no longer panic. I will hoard the coins first. The mentality of mining is much more stable than speculating in coins. I don’t need to keep an eye on the market all the time, and I can do other things with peace of mind. Another feeling of mining in Litebit is that it is reassuring, worry-free, and the service is thoughtful . I also participated in the field trip to the mine organized by Litebit this year. The rumbling sound of tens of thousands of mining machines running at the same time is very shocking. After seeing that scene, I feel more confident. Litebit's joint mining cooperation is very friendly to people like me who don't understand mining. From beginning to end, I only need to do two things: pay and receive coins . The purchase logic of each batch is checked by Mr. Jiang, and it will be given to customers at the same time. If you agree with the purchase logic, you can pay according to the requirements. Everything else is left to Litebit. After the machine is running, I can check the income every day. Litebit's customer service staff also left a deep impression on me. I asked them some questions I didn't understand, and I got very satisfactory answers. The most exciting thing is of course the mining income. In a rising market like this year, mining can enjoy the Davis double-click. Not only are the mined coins rising, but the price of mining machines has also risen. The batch of machines I bought was M21S, which was turned on on June 1. With the residual value of the mining machine, if I hoard 100% of the coins and don’t sell them, I roughly calculated that the price of the second-hand M21S mining machine is about 1.5 times that of when I bought the new machine, and the value of the hoarded coins is also about 150% of the original investment. In total, there is a 300% return in half a year . Of course, due to the need for capital turnover, I sold some coins in the middle, but such a return is still far beyond my expectations. I am really grateful for the cooperation model of Litecoin joint mining, which gives us, Xiaobai users, the opportunity to participate in it and enjoy the "after-sleep income". 03
From thinking Bitcoin is a Ponzi scheme to being deeply involved L, a customer manager of Litecoin, works in the banking system. He first heard about Bitcoin in 2016 and entered the market before 1994 in 2017. After going through the bull and bear markets, his original intention remained unchanged. He is more firmly bullish on Bitcoin and participated in mining in 2020. I first came into contact with Bitcoin through one of my clients in 2016. This client wanted to take out a loan to buy a car and met the loan qualifications, but he still needed to know the other party's repayment source. The other party was evasive at first and refused to tell me. I said it was okay, I just wanted to understand it, and it didn't need to be included in the approval documents. Then the other party said that he was speculating in Bitcoin. As someone who works in the banking system, my first impression was that this was most likely a Ponzi scheme . Out of curiosity, I looked up relevant information and found a bunch of magical words: mining, Bitcoin mines, and mining a block in 10 minutes... It was because of the word "mining coins" that I decided that Bitcoin was a scam in 2016. But I also paid attention to Bitcoin and kept learning about it. Bitcoin was also rising at that time, and I was "conquered by the rise". Before 94 in 2017, I started to trade in coins. Not long after entering the market, I experienced the well-known 94 regulation, and the price of the currency plummeted. Thanks to my previous homework, I am still full of confidence in cryptocurrencies. Of course, it is also because I only took tens of thousands of yuan, and I am playing with small funds. I will accept the loss. Even if the price plummets, I still think Bitcoin is too expensive. As Mr. Jiang said, new leeks can't afford BTC, so they will buy other coins. I was building a position in Litecoin during the plunge. In the bull market of 2017, I also made several times the floating profit , and then I randomly exchanged some altcoins, which led to a roller coaster ride in the entire bull market. Others made money, but I only earned experience . I also had the idea of mining in September 2017. At that time, I was deeply attracted by Bitcoin mining. I learned mining tutorials on various forums and learned that mining requires buying mining machines, setting mining codes, and knowing maintenance. I felt that the threshold was very high and I couldn't do it myself, so the idea of mining was temporarily shelved . Until February of this year, affected by the epidemic, I read some articles in the currency circle at home. I had the opportunity to see some articles written by Mr. Jiang in 2019. I felt that Mr. Jiang's articles were logically clear and pertinent, so I followed Mr. Jiang's previous articles. In this way, an article on joint mining restarted my long-shelved mining plan . After reading the article, I suddenly realized that this is not the cooperation model I have been looking for all the time? Doing business together, sharing risks and profits, please ask a professional and reliable team to provide a package of mining-related services! FOMO emotions arose spontaneously, and I immediately contacted the person in charge of joint mining . After chatting with the person in charge of joint mining, I felt that the whole process was very standardized . I also did some research myself, including cloud computing power, mining farm hosting, and even mining various small currencies. After comprehensive comparison, I quickly made a decision: it’s Litecoin joint mining! During that period, due to the impact of the epidemic, the mine operation and maintenance personnel could not enter the mine, and the logistics of mining machines were also blocked. I kept asking if there were any batches. It was not until March 23 that Litebit finally launched a batch of S19 mining machines for purchasing and hosting in May. Before payment, I specially made an income statement based on the computing power, power consumption, selling price, total network computing power, currency price and other data of S19, calculated the static payback period of the mining machine, and understood that the payback of mining is affected by multiple variables. Finally, I did what I think is the most meaningful thing I have done at home during the epidemic so far-that is, participating in joint mining in Litebit . I have participated in joint mining for more than half a year, and my biggest feeling is professionalism . From the aspects of purchase logic and machine selection, although I do not participate in all batches, I will carefully read and learn every time the purchase logic comes out. Another point is that by cooperating with Mr. Jiang and participating in joint mining, you can not only get the best new machine, but also enjoy the preferential price for major customers . After experiencing such a long bear market, I know that all-in is not advisable and contracts are not to be touched. The best way to invest may be fixed investment, and then reduce the cost price. So in my opinion, mining is a better form of fixed investment . At the same time, the income generated by mining can continuously reduce the cost price of buying coins in the secondary market. Mr. Jiang’s hoarding of coins + mining, in my own understanding, is a hedging model. Fortunately, in October this year, I consulted Mr. Jiang face to face in Shenzhen. Mr. Jiang suggested to configure some graphics card mining machines to mine Ethereum to hedge Bitcoin. Mr. Jiang has also mentioned repeatedly on Weibo recently that the market value of Ethereum in this bull market is likely to surpass Bitcoin and become the currency with the largest market value. I listened to Mr. Jiang's advice and continued to increase my investment in mining according to the hedging model. I purchased mining machines in batches from BiWa, and configured Bitcoin mining machines and graphics card mining machines in a 1:1 ratio; the ratio of the investment amount in joint mining to the investment amount in hoarding coins is also close to 1. The advantage of purchasing mining machines in multiple batches is that different models and batches of mining machines are distributed in different mines of Litebit, which reduces the loss of revenue caused by downtime due to unexpected situations such as power station maintenance in a single mine, and effectively disperses the risk. Of course, I also asked about the response mechanism for potential risks in the mine. Mr. Jiang has purchased property insurance for the mine and mining machines, and I instantly remembered Mr. Jiang's smirk. The biggest advantage of mining is that it allows me to be more calm and composed in the face of volatile market conditions when the market switches from bull to bear and when there are sharp rises and falls, and it also allows me to hoard coins. 04
Summarize The above is the interview of Zhikuang University with three customers of United Mining. Are their stories exciting? Actually, they are very ordinary. The original intention of Zhikuang University to interview them and publish their stories is not to seek novelty, but to let readers feel that mining seems to have no tricks at all, but the extremely simple investment strategy of sticking to the right path and not surprising finally outperformed the vast majority of cryptocurrency users . Mining and hoarding coins is like the Eighteen Dragon Subduing Palms in martial arts. There are no fancy moves, but it is extremely strong and masculine. Time is its friend. In time, you will find out how powerful it is. Most of those who use "various evil martial arts" to speculate in coins will be left far behind. What mining gives you is not the imagination of getting rich overnight, but stability, certainty, and unsurprising returns . Risk warning : The content of this article is only the author’s personal opinion, does not represent the views or position of Zhikuang University, and does not constitute any investment opinion or recommendation.
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