Liang Baoqing: Mining industry ecology is facing upgrading

On April 21, the Second Bitdeer 421 Water Festival and Mining Ecology Conference was held in Beijing, which was jointly organized by Bitdeer Group and RuralBlockBeats, and jointly organized by Bitdeer Group, Mining++, BTC.com, MatrixPort and other leading brands.

During the conference, Lu Blockbeats interviewed Liang Baoqing, who is in charge of the business line of Minerplus. He stressed that compared with competing products, Mining++ can provide cross-brand management services and achieve transparent management of mining machines. In the future, it will also launch GPUs firmware services and mining machine trading platform.

  Liang Baoqing, head of business line at MinerPlus, Bit Deer

The following is a dialogue between Rhythm Blockbeats and Leung Po-ching

Rhythm BlockBeats: Mining++ was formerly known as Ant Sentinel. Is this a brand upgrade? How is Mining++ different from the previous version?

Liang Baoqing:The name change can be understood as a brand upgrade. There are two main changes:

First, the extension of the service object. Ant Sentinel, as the name implies, is the first to provide management services for ant mining machines and own mines, so Ant Sentinel is actually a management product for ant mining machines. After 19 years, we started to provide services to third party mining companies, such as Avalon Mining and Avalon Mining. Since then, we are no longer bound to mining companies or mining pools. As an independent service provider, we have recently changed our name to Mining++.

Second, the expansion of business scope. The intelligent operation and maintenance management of the mining machine is just a starting point for us. In fact, we will eventually link up the mining ecological services. For example: mining machine after-sales maintenance, mining machine secondary transaction, mining machine computing power transfer, GPU firmware and corresponding management...... These are matters of great concern to miners, but no company is systematically doing this ecological service yet. Mining++ is to link the mining ecological services, and finally Mining++ becomes the mining ecological service provider.

Rhythm Blockbeats: You just mentioned mining machine trading. Is there a lot of demand for this market?

Liang Baoqing:From the market capacity, it is very large. We can make a calculation. Now the computing power of the whole network of Bitcoin is about 170 eH /S, and the computing power of the mainstream mining machines in the market may be 40-50 T, which means that there are about several million mining machines in the world. Mining machines need circulation, very few people will dig mining to scrap.

On average, each mining machine will change hands 1-2 times in its life cycle. Now it basically relies on offline trading or agency, with high risk. We want both parties to be able to complete the transaction directly on the platform. The second-hand Mining machine trading business of Mining++ will probably be launched in August, you may pay attention to it.

BlockBeats: The recent mine safety inspection incident in some parts of the country has caused a lot of discussion in the market. What can Mining++ do to help in this kind of incident?

Liang Baoqing:Before these inspections occur, power outages are often required in advance. According to traditional practices, people need to close shelves one by one, because they can not pull the switches uniformly, which will lead to damage to electrical equipment and mining machines.

Through our platform, the miner in the mine can be switched to sleep mode with one key, and the power consumption of the miner in the sleep mode is extremely low.

Rhythm BlockBeats: What's the advantage of Mining++ over similar competitors on the market?

Liang Baoqing:There are two main types of friends in the market, one is the traditional mining machine brand tools, the other is independent management software manufacturers. In comparison, Mining++ has two advantages:

First, Mining++ is more compatible and transparent. Traditional mining machine brand tools only for their own mining machine management, they have no desire to open up a multi-brand mining machine. Moreover, these tools are not networked and only execute locally, with a lack of transparency.

Second, Mining++ has a stronger comprehensive mining ecological service capability. Most independent management software manufacturers, only focus on a single function, such as: only out of the earnings report, no real mining machine management; Or just to monitor the operation of the mining machine, but the mine safety protection ability is not enough... These competing products are equivalent to a tool, and our positioning is different. Mining++ is the first comprehensive service platform for mining ecology. We not only provide users with cross-mining machine brand, cross-mining pool intelligent management, but also provide a complete set of security protection system, in addition to operation and after-sales access, miners' graphics card mining machine firmware, second-hand mining machine transactions, etc. In a word, Mining++ is a comprehensive service platform for mining ecology, which can provide customers with one-stop service. We are the first, and currently the only, company to have this comprehensive service capability.

What are the main revenue sources of the intelligent operation and maintenance management system of Rhythm Blockbeats: Mining++? How to achieve sustainable benefits?

Liang Baoqing:This should start from the state of the mining industry, the state of the industry determines the charging model.

If history is a mirror, we can know the ups and downs. When there were dozens or hundreds of vassal states in the early Eastern Zhou Dynasty, the quickest and most effective way to develop and expand was to grab territory. But if you want to grow and thrive in the long run, you need to reform from within, and the success of reform often ends up being a hegemon.

I think the mining industry is in a transition period from the Spring and Autumn Period to the Warring States Period. Most people are still making fast money, but Mining++ is feeling the trend change. At the current stage, we will provide such management platform services for miners free of charge, provide practical help for miners in mining, and help miners to carry out transformation and upgrading. As long as the Mining++ is really valuable, and miners can make more money from the platform, it will become a virtuous circle with the platform. In addition, we will launch the graphics card mining firmware in May, and the second-hand mining machine trading platform in August... These are the kinds of businesses that can generate significant revenue for Mining++.

Pulse Blockbeats: Do you agree that the future of mining is overseas?

Liang Baoqing:I agree with you. The trend of the past two years shows that large overseas institutions and listed companies to some extent have reached a consensus on mining as a compliant business. For example, in the "Digital Payment and Digital Currency" sub-forum of Boao Forum 2021 held just a few days ago, Bitcoin was redefined once again -- now Bitcoin and other cryptocurrencies have been defined as "crypto digital assets" and function as an investment tool. Based on this, I think there may be some relaxation in the domestic mining section.

But at present, overseas mines compliance is relatively strong, the number of domestic mines will be reduced. In terms of orders, overseas mining machine orders have been very large, and in the second half of this year and next year, we will see a significant change in the numbers.

Rhythmic Blockbeats: How Much Will Domestic Computing Power Decline?

Liang Baoqing:It's hard to say, the period from 2021 to 22 is the peak period for mining machine shipments, and if 40% to 50% of the order volume during this period is taken overseas, the trend will be more obvious.

Routine Blockbeats: Mining++, which manages a lot of mines, certainly has a lot of user data. How does that data work?

Liang Baoqing:In fact, we follow the same principles in system design as cloud service providers like AWS or AliCloud. Such as:

1. We do not collect or retain data that is not necessary for users' function. The data that users can see is the data we collect;

2. Data used in function should follow the principle of cloud service data isolation;

3. The platform uses a variety of security schemes to ensure the security of user data.

We're not going to search for user data like some apps do. And then we have our own rules about how we handle the user's data, and then we destroy it after the expiration date.

The company also has A special security team to do data isolation in design. For example, the data of customer A and customer B should be isolated, so there is no problem in security protection.

Routine Blockbeats: Mining++ seems to be more geared towards large mines. Is there a product suitable for retail investors?

Liang Baoqing:From the current business pattern, Bitcoin ASIC mining is increasingly concentrated in large and medium-sized mines, due to the concentration of better power resources and infrastructure in large and medium-sized mines. On the contrary, the proportion of retail mining will be further reduced.

But there are a few emerging things, such as storage mining, graphics card mining, the enthusiasm of individual investors is relatively high, and the current threshold is not too high, these in the form of the larger individual investors still exist. We will have a certain degree of participation in these hot projects, in order to avoid the risk that the wave will be thrown off if it really becomes a larger trend. Therefore, as the head of the mainstream manufacturers, we will have a certain degree of participation in such hot projects that reach a certain scale, and also launch products suitable for individual investors at the right time.

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