BTC is still a good asset while halving brings opportunities for miners

In the 55th issue of the ‘Kong Zhong Class’ of Lieyun Finance, we invited Tsou Yung-Cheng, global CEO of RRMine, who brought us a wonderful and interesting online sharing.

At 15:00 on March 25, Tsou Yung-Cheng, the Global CEO of RRMine, was invited to the 55th issue of ‘Kong Zhong Class’ of Lieyun Finance, bringing you wonderful and informative online sharing.

The following is the real record of sharing (edited):

Host: Good afternoon! I am Yu Meng, the ‘Kong Zhong Class’ of Lieyun Finance.

Liyun Finance is the vertical blockchain media of Liyun Group. It has many popular brand columns, such as ‘Friends of the Mining Circle’, ‘Kong Zhong Class’, ‘Lieyun Interview’, etc. Please contact us directly for the business cooperation enquiry. Our in-depth interview articles are also recognized by the industry, and online and offline activities are also held regularly. At present, we focus on the mining circle, DAPP, etc in 2020.

The theme shared in this issue is: BTC is still a good asset while halving brings opportunities for miners.


Host: Mr Tsou, how will the cloud computing industry cope with the global financial tsunami?

Mr Tsou: After the Internet bubble burst in 2000, the Internet world has sprung up. After the global financial crisis in 2008, the mobile Internet has been developing at a high speed. After the global financial crisis in 2019, the advanced productivity represented by information technology such as big data, AI, blockchain and cloud computing power will usher in new space.

Therefore, we should pay more attention to opportunities after the financial tsunami. After every crisis, there are large platform companies, such as Alibaba positioning e-commerce platform in 2003, Tencent positioning social platform, and the computing power industry will be no exception. It has experienced the outbreak period, cultivation period, stable growth to the shuffling period, from investors, customers, entrepreneurs, industry personnel, etc, to think about their position and role. The digital wave has brought great changes to the global financial ecology and supercomputing will continue to rise. We need to find the right place to meet industry opportunities.

Host: BTC market amplitude increases recently. Some people think that BTC is not a safe haven. What do you think?

Mr Tsou: Any asset in the world will face pressure in front of the financial tsunami. As a traditional safe haven with a history of 2000 years, gold has a total amount of about 8 trillion US dollars, which has evaporated nearly 150 billion US dollars in the past week. At the same time, only 10-year-old BTC has evaporated from 200 billion US dollars to 100 billion US dollars, that is, any asset will be sold in the case of lack of liquidity. BTC is like a newborn child. It has never been endorsed by any country and has no traditional precious metal credit. Today, it’s market value has exceeded most people’s expectations. Moreover, compared with other global assets, BTC, as a new type of asset, has fallen sharply in the global international financial market, which can be regarded as a good enough performance to withstand the financial tsunami. So we don’t need to overemphasize the attributes of BTC hedging assets, and from this point of view, it is still a very good asset.


Host: Halving is the topic that the user cares very much. Will it bring the currency price to go up? How do you think of halving?

Mr Tsou: First of all, we don’t think that the currency price will rise after halving, and the short-term fluctuation of the currency price will increase under the financial tsunami. Remember not to bargain-hunting at will, but this is a good opportunity for low-cost miners to cut in. If the currency price does not rise temporarily after halving, the high-cost miners are unprofitable, then the withdrawal of this part of miners is expected to reduce the computing power of the whole network by at least half, reduce the difficulty of mining, and increase the return of low-cost miners, which is a dynamic and balanced process. It is difficult to predict the short-term change of the market. The computing power is an extended asset of BTC and we will take advantage of the cyclic dynamic rules of its market to find and obtain more expansion opportunities in the fluctuation of halving market.

Host: As you just mentioned that halving is a good time for low-cost miners to get involved, so I would like to ask what are the advantages of RRMine computing power cost?

Mr Tsou: The cost of computing power is mainly affected by two factors: electricity fees and power consumption of the mining machine. RRMine computing power comes from large-scale physical mines of globally distributed computing power suppliers. We have nearly 20 computing power centres, and the scale of platform computing power accounts for about 3% of the global computing power. Within the large-scale power supply cooperation, the average daily electricity fee can be controlled at 0.22yuan/T at present, while most of the electricity fees in the market are between 0.3 yuan and 0.37 yuan. With the decline of the scale of the whole network computing power, the shutdown price of RRMine will continue to fall.

In addition, since August 2019, we have begun to layout the main models and gradually replaced them with high-performance mining machines with high computing power and low power consumption, such as t17, m21 and s17. At present, the proportion of such mining machines on the platform has reached about 80%. Therefore, with the advance layout, we expect that with the dynamic balance of the whole network computing power and the arrival of the wet season, the cost will be further reduced, and the computing power cost far below the market average level is also one of our core competitiveness.


Host: Please tell us from your operation experience how to face the complex market and fight against risks?

Mr Tsou: First of all, as a highly volatile asset product, BTC has increased its short-term uncertainty due to the combination of market halving and financial tsunami, which is why we have repeatedly stressed that investors should not bargain-hunting at will. In addition, in the past three years, the fluctuation of the cryptocurrency market has continued to increase, so it can be said that it is difficult for individuals to fight against some extreme situations.

In July 2017, BTC price fell to $2170.30 and stayed below $5,000 for nearly 3 months before rising.

From November 2018, BTC fell to $3245 and stayed below $5,000 for nearly 4 months before rising.

It is quite difficult for ordinary users to pass through bull and bear to resist market fluctuations and emotional fluctuations in the process of currency speculation. RRMine platform has been in operation since 2017, continuously improving platform technology and anti-risk ability, the early layout of global scale, and helping users to fight against risks through scale, collectivization, and platformization, so as to achieve smooth crossing of all previous market critical points.


Host: From the perspective of risk management and control, how does RRMine deal with the fluctuation of computing power market?

Mr Tsou: Computing power market is a market with obvious cyclical fluctuations. It has its own cyclic dynamic rules. Good risk management and control requires long-term and short-term risk hedging ability of the market. For example, when the mining cost increases significantly, most people will quit mining, so the difficulty of calculating power will be sharply reduced, the BTC of computing power output will rise, and the income will rise, but this process is not a real-time reaction process, and it has a certain lag.

The price of the currency has fallen by half, but the computing power of the whole network has fallen by 15% — 20%. However, the amount of currency output has not decreased. Therefore, it is necessary to consider dynamically and make a long-term layout, not to dig for the mine immediately when it rises, but to withdraw immediately when it falls. The decline of network computing power cost is a good opportunity for the platform to invest in computing power. At this time, the platform can hoard and collect more computing power and increase the amount of currency output, so as to effectively use the cyclic dynamic rules of the computing power market and obtain more long-term operating income.

Host: Mr Tsou, would you please introduce the business orientation and team configuration of RRMine?

Mr Tsou: RRMine is positioned as a decentralized computing power asset management and trading platform. We are looking at the market behind the computing asset as the basic energy in the digital world. A large number of industry reports continue to confirm the market, and a large number of industry institutions are optimistic about the market for a long time.

At present, in our high-tech team with 35 patents and 10 product patent applications, there is R & D team accounting for 35%, master’s degree or above accounting for 45%.

Our management team, mostly from international well-known enterprises such as Goldman Sachs, Morgan Stanley, Ernst & Young, and domestic well-known investment institutions, now has more than 10 branches and more than 200 excellent employees, truly achieving the global business layout.


Host: The long-term computing power contracts of RRMine are very popular. So, what are the characteristics of RRMine compared with other platform contracts?

Mr. Tsou: RRMine was initially positioned as a computing asset management and trading platform. We provide both short-term and long-term computing power contracts, and the IPFS contracts, etc will be available this year.

Our most popular contracts are long-term computing power contracts. On the one hand, we encourage users to hold long-term power contracts to resist short-term market fluctuations and risks, so as to ensure the stability of power output. On the other hand, we have made industry innovation on this basis, similar to Costco in the United States. The mode allows users to freely trade and transfer their contracts within a certain period of time, that is, you can have a try. Hold them if you like, return them if you don’t. In the first year, our platform can repurchase the contracts, and in the second and third years, users are free to trade and transfer, which not only gives users full choice and experience opportunities but also achieves the liquidity of computing assets and ensures users’ interests.

In addition, all the computing power contracts of RRMine are recorded on the BHP public chain. All the computing power contracts, computing power asset transaction processes, etc. are recorded and audited, and our audit firms are well-known institutions in the world.


Community question: Mr Tsou, what’s the next work plan of RRMine?

Mr Tsou: RRMine has made comprehensive consideration and full preparation in the face of the fluctuation of the global capital market and the uncertainty of the BTC halving market. We have two layout considerations in the near future.

The first is that the assets of our computing power contracts can be assessed by traditional authoritative institutions, and then the third-party platform can carry out the pledge lending business. It really achieves the recognition of new contract assets from the perspective of traditional asset valuation, which brings great liquidity to our user’s computing contract assets.

The second is that we also have a planned layout for new products. In the face of the global financial risk superposition and halving market, we plan to launch mining derivative financial services, achieve the computing power hedging transaction, and help users confront the risks faced by the future market and reduce the risk cost of users through diversified computing power derivatives.

In a word, we will continue to improve RRMine computing power ecological service system through long-term planning and layout, closely focus on computing power industry to derive diversified services, improve industry efficiency, mobilize industry activity, enrich industry resources, and prosper industry formats. Speed up the historical process of promoting the orderly and regular computing industry.

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