Jiang Zhuoer, founder of Litecoin Mining Pool, gives his views on competing coins and mining

Jiang Zhuoer, founder and CEO of Litecoin Mining Pool, said that in each bull market, the growth of small currencies will be greater.

Bitcoin increased 144 times from 900 to 130,000 yuan. Bitcoin increased 500 times from 5 yuan to 2,500 yuan.

But because of this, small currencies are more likely to disappear. Most of the top 20 currencies in the last bull market have disappeared. The cryptocurrency world seems to be a place where black swan events frequently occur. When a black swan appears, anti-fragility must be present.

Jiang Zhuoer, founder and CEO of Litecoin Mining Pool, mentioned that hoarding only cryptocurrencies is very risky because the price of cryptocurrencies is highly volatile.

So from the perspective of risk diversification, mining can also be considered. For most people, the easiest business system to build is also mining.

Mining will passively bind you to the currency, but it is also a dirty and tiring job, requiring a deep understanding of the types of electricity, regional selection, seasonal changes, mining machine selection, etc. Therefore, mining has become more and more specialized and group-based, making it difficult for retail investors to mine.