Are you ready to fly with the market?

Produced by | Lieyun Finance Author | Taomi

Xiamen, the island of Lu, is a cutting-edge city that combines beauty and connotation.

It is a natural garden between the mountains and the sea, a red brick garden for the hard-working people in southern Fujian, and a garden of nations that combines the East and the West. After thousands of years of vicissitudes and hundreds of years of wind and rain, Xiamen has been upgraded step by step and transformed into a garden on the sea in people's minds.

On September 17, the fifth stop of the "Sparks of Mining in China" event, hosted by Lieyun Finance and co-organized by Canaan, Y2K, Diancun Technology, GSR, and 100P Computing Power Club, with strategic cooperation from Binance Pool, came to a successful conclusion in Xiamen, the island of Lu.

In addition to receiving special support from partners such as VeryHash, Todek, Hundred Regiments Mining Summit, and RRmine, this event also received strong support from many media partners.

At the beginning of the event, A Kun, partner of Lieyun Finance, delivered a wonderful speech on behalf of the organizer. He said that Lieyun Finance was established in Beijing in January 2018, and its parent company is Lieyun.com, which is a comprehensive technology venture capital platform in China and has received strategic investment from Alibaba, Shanda, and Lenovo Capital.

He also said that in the past two years, Lieyun Finance has held hundreds of offline blockchain events, including two summits with more than 1,000 people . In the future, it will work with more partners to jointly promote the development of the entire industry.

A Kun, Partner of Lieyun Finance

Afterwards, F2Pool CMO Qingqing gave a speech. She said that with the iteration of mining and the halving of miner rewards, the mining landscape is also changing, and traditional capital is constantly flowing in.

For new miners, she suggested that they should choose professional platforms with technological advantages and continuously optimize internal and external efficiency to reduce costs. At the same time, they should also be good at using financial tools to combat unexpected risks and continuously improve their knowledge and abilities .

F2Pool CMO Qingqing

Next, Lin Zheming, founder and CEO of DotWallet/Mempool, gave a speech . He said that everything in Bitcoin revolves around transactions, and miners compete for the right to record transactions, a conflict resolution mechanism when conflicts arise in transactions (matters).

He also said that competition between miners should not affect users' use of the ledger. Even if a fork occurs, the user's transaction still needs to exist in two different copies of the ledger at the same time.

Lin Zheming, Founder and CEO of DotWallet/Mempool

Immediately afterwards, A Kun, partner of Lieyun Finance, distributed red envelope prizes to the guests on site and gave a brief introduction to the BEYOND 2020 Summit to be held in Shenzhen from October 21 to 23.

He said that the summit will focus on industrial blockchain, new infrastructure integration, digital finance, digital mining, IPFS and distributed storage, and will attract more than 10,000 blockchain and Internet industry practitioners, technology elites and investors, as well as more than 100 companies and projects from the upstream, midstream and downstream of the industry. Shenzhen welcomes everyone from October 21st to 23rd.

At the event, many guests received valuable awards. The award-winning guests expressed their support for LieCloud and hoped that LieCloud would become better and better.

Photos of the winners

Later, Wendy, VP of Business at Diancun Technology, said that Filecoin is not only about mining, but also a decentralized storage network platform. This is in line with Diancun Technology’s layout two years ago, so it is an honor to participate in the construction of the IPFS ecosystem. Filecoin is a marathon, and it has just started.

When reviewing the Filecoin Testnet, she said that in the testnet and calibration network, Diancun Technology has achieved the first place in the node for 5 times. In addition, Diancun Technology t01155 won the first block reward of the unofficial node in the space race. She also said that they will uphold the attitude of being responsible to customers, continue to optimize algorithms and scheduling, create more stable cluster scheduling capabilities, and the best configuration. Continue to fight and make technical reserves and guarantees for the delivery and stable operation of the main network stage.

Wendy, VP of Business at Diancun Technology

Next, Anjo, GSR Asia Pacific BD Director, delivered a keynote speech. As for the reason why OTC funds chose to enter the market at this time, she pointed out that the inflation of legal currency brought about by the global financial crisis has made traditional funds more and more accepting of Bitcoin's "digital gold" positioning. The entry of OTC funds has changed the original computing power economic system . On the one hand, the internationalization of the computing power of the entire network has increased, and on the other hand, the degree of specialization of mining companies has increased.

Anjo also said that GSR has launched a variety of hedging solutions, including high-level cash-out products and shark fin products, providing targeted products and services for different market conditions.

Anjo, Head of BD, GSR Asia Pacific

At the roundtable session, Lieyun Finance Editor-in-Chief Wang Xuejing (guest host), F2Pool CMO Qingqing, Diancun Technology Business VP Wendy, and GSR Asia Pacific BD Head Anjo had an interesting and informative discussion.

Wang Xuejing, editor-in-chief of Lieyun Finance, said that the future development of the mining industry will move towards scale, specialization and financialization .

In terms of financialization, she also pointed out that the essence of buying mining machines for mining is equivalent to buying call options, which often requires corresponding risk hedging. Now more and more miners are learning and doing hedging. In addition, exchanges have entered the mining pool and provided financial services such as mining machine pledge lending. At present, financialization is gradually penetrating into every link of the mining industry.

F2Pool CMO Qingqing said that the current mining community is changing, and a lot of traditional capital has entered the market, which has made the industry develop faster, and the secondary market price has also been adjusted intuitively. Blockchain enthusiasts are gradually losing their advantages and their profits are also being diluted.

Regarding how to invest, Qingqing said that it is possible to diversify investments, not only investing in old tracks, but also in new tracks. However, the dividend period of new tracks is relatively short, and there is often a speculative component, while old tracks are more about value investment.

Wendy, VP of Business at Diancun Technology, pointed out that Diancun Technology provides rack-mounted servers with exclusive design and customized for FIL mining. The computing machine and storage machine cluster are separated in architecture, with massive capacity expansion, and the mining cost continues to decrease.

Anjo, head of BD for GSR Asia Pacific, said that computing power derivatives hedge the risk of increasing mining costs and protect miners from unforeseen changes in mining difficulty.

She explained that as the computing power of the entire Bitcoin network grows, the increase in mining difficulty will directly affect the cost of mining. Hash rate derivatives allow miners to hedge the forward risk of future hash rate and difficulty growth. To hedge the hash rate, miners will buy hash rate futures and receive a return if the hash rate rises on the expiration date. The profits from derivatives can be used to compensate for their relatively small share of mining rewards.

This event provides a borderless communication platform for industry practitioners and enthusiasts to jointly promote the development of new infrastructure, which has been well received by everyone. The next cities of Lieyun Finance Mining China Tour include Zhengzhou, Beijing, Shenzhen, etc., so stay tuned!