What is the future of bitcoin mining? According to boss, the world's largest cloud computing company
Recently, minerupdate, the media of crypto mining industry, held the first "global mining leaders summit" in Chengdu. Many foreign mining companies attended the meeting, such as miner manufacturer, genesis mining, slush pool, Luxor, minebest, blockware solutions, etc._DJMIINER
Although not well-known in China, genesis mining is well-known in the western market. It is the world's largest cloud computing company with more than 2.8 million users.
Cloud computing power gives everyone the opportunity to participate in mining
According to Marco streng, genesis mining was born in 2013, when he was very interested in Tete and the return on mining was amazing. Many friends are interested in and want to participate in bitcoin mining. He has established a large mine, so he sells his computing power to friends so that they can also participate in bitcoin mining.
And this is also in line with his philosophy. He thinks that bitcoin mining is very important, because mining is becoming more centralized and personal competitiveness is getting smaller, and cloud computing power gives everyone the opportunity to participate in mining.
Bitcoin mining is not a waste of energy
Although bitcoin has been used for 10 years, many people still don't understand why they spend so much power and energy to mine. They think that "bitcoin mining is a waste of energy". As a provider of computing power for bitcoin mining industry, Marco string disagreed in the interview.
Marco Street confesses that he is a believer in pow, which is the only real consensus mechanism of decentralized blockchain at present. Mining is the backbone of the industry and is absolutely necessary. Now there is a POS consensus mechanism, but bitcoin absolutely needs mining. They need electricity, but it's not a waste of energy. It's very necessary.
And it's not a problem. Because there are enough renewable energy sources on our planet, such as hydropower, wind power, geothermal power, solar power and so on. Bitcoin mining even has a positive effect on the renewable energy industry, because more and more miners want to use renewable energy to mine._DJMIINER
Centralization is the main problem of mining industry
Marco streng said in an interview that centralization is the main problem faced by the mining industry. First, at the level of ore pools, 2 / 3 of the computing power comes from the top five ore pools, and second, at the level of hardware and geography, more than 2 / 3 of the computing power comes from China.
How to solve this problem?
He believes that there are some good solutions in software and mining pools, such as the decentralized mining pool protocol such as stratum V2 being promoted by betterhash or slashpool. At the hardware level, the decentralized solution is that more and more miners are decentralizing their mines, and the global layout is not just in one country. For example, genesis mining operates mines on four continents in the world. He said Genesis mining also hopes to help Chinese miners, and if they want to go out of China, they can host their mining machines.
Halving will have a strong effect on the special currency
Marco streng said that no one knows exactly the price of bitcoin, but halving it will definitely increase the price of bitcoin.
He thinks there are two reasons: first, psychological effect. Because the block reward is halved, many people think that the price of bitcoin will rise before halving. Secondly, many miner know that the arrival of halving will cause the price to rise, so they will stop selling bitcoin. Therefore, halving the price of the special currency will have a strong effect.
Mining companies are challenging to enter AI and high-performance computing
Many mining companies have begun to enter into other industries, such as AI and high-performance computing, in addition to the main mining business. Bitcontinental, including the genesis cloud business under genesis, says Marco streng. The reason is very logical, because many people think they can build efficient data centers, of course, they can also do AI and high-performance computing. But he admits it's easier said than done. Genesis has been engaged in high-performance functional computing for three years, and spent a lot of money and resources. For example, genesis cloud is providing AI and rendering services, but this is very challenging and not easy._DJMIINER
Although not well-known in China, genesis mining is well-known in the western market. It is the world's largest cloud computing company with more than 2.8 million users.
Cloud computing power gives everyone the opportunity to participate in mining
According to Marco streng, genesis mining was born in 2013, when he was very interested in Tete and the return on mining was amazing. Many friends are interested in and want to participate in bitcoin mining. He has established a large mine, so he sells his computing power to friends so that they can also participate in bitcoin mining.
And this is also in line with his philosophy. He thinks that bitcoin mining is very important, because mining is becoming more centralized and personal competitiveness is getting smaller, and cloud computing power gives everyone the opportunity to participate in mining.
Bitcoin mining is not a waste of energy
Although bitcoin has been used for 10 years, many people still don't understand why they spend so much power and energy to mine. They think that "bitcoin mining is a waste of energy". As a provider of computing power for bitcoin mining industry, Marco string disagreed in the interview.
Marco Street confesses that he is a believer in pow, which is the only real consensus mechanism of decentralized blockchain at present. Mining is the backbone of the industry and is absolutely necessary. Now there is a POS consensus mechanism, but bitcoin absolutely needs mining. They need electricity, but it's not a waste of energy. It's very necessary.
And it's not a problem. Because there are enough renewable energy sources on our planet, such as hydropower, wind power, geothermal power, solar power and so on. Bitcoin mining even has a positive effect on the renewable energy industry, because more and more miners want to use renewable energy to mine._DJMIINER
Centralization is the main problem of mining industry
Marco streng said in an interview that centralization is the main problem faced by the mining industry. First, at the level of ore pools, 2 / 3 of the computing power comes from the top five ore pools, and second, at the level of hardware and geography, more than 2 / 3 of the computing power comes from China.
How to solve this problem?
He believes that there are some good solutions in software and mining pools, such as the decentralized mining pool protocol such as stratum V2 being promoted by betterhash or slashpool. At the hardware level, the decentralized solution is that more and more miners are decentralizing their mines, and the global layout is not just in one country. For example, genesis mining operates mines on four continents in the world. He said Genesis mining also hopes to help Chinese miners, and if they want to go out of China, they can host their mining machines.
Halving will have a strong effect on the special currency
Marco streng said that no one knows exactly the price of bitcoin, but halving it will definitely increase the price of bitcoin.
He thinks there are two reasons: first, psychological effect. Because the block reward is halved, many people think that the price of bitcoin will rise before halving. Secondly, many miner know that the arrival of halving will cause the price to rise, so they will stop selling bitcoin. Therefore, halving the price of the special currency will have a strong effect.
Mining companies are challenging to enter AI and high-performance computing
Many mining companies have begun to enter into other industries, such as AI and high-performance computing, in addition to the main mining business. Bitcontinental, including the genesis cloud business under genesis, says Marco streng. The reason is very logical, because many people think they can build efficient data centers, of course, they can also do AI and high-performance computing. But he admits it's easier said than done. Genesis has been engaged in high-performance functional computing for three years, and spent a lot of money and resources. For example, genesis cloud is providing AI and rendering services, but this is very challenging and not easy._DJMIINER
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