"Bitcoin preacher" entrepreneurial road Babbitt interview bit mainland Wu Bogey cold

Wu Bogey cold, now a bit of mainland CEO, the industry recognized bitcoin, as early as in 2011 to touch the Bitcoin, and the long Forcipomyia and other people created Babbitt, after the creation of the mining machine chip company bit mainland. Starting from the end of 2013, Wu bogey cold gradually no longer active in the Bitcoin community, become one of the most mysterious Bitcoin, Babbitt information as the Hong Kong Summit of the core cooperation media, was fortunate to be able to face it during the event of an exclusive interview. Bitcoin preacher "Entrepreneurial road Babbitt interview bit mainland Wu Bogey Cold Q: Simple introduction, cold total how do you know and love Bitcoin?" What do you do with Bitcoin in these years? A: I am not really very old, after graduating in 09 into the investment industry, doing is the venture capital analyst and investment manager's work, May or June 2011 time to touch the Bitcoin, is a venture capitalist practitioner's attitude, and then hope to make good investment performance, is to hold such a kind of initial hope, and then intervene in this field, the earliest time is in Taobao and Mt.Gox buy bitcoin, in April 2013, I began to work full-time in bitcoin related jobs, after the establishment of the bit continent, the main energy is placed on the bit continent. q:2011-2012 at that time, it was possible that domestic Bitcoin participants were more of an atomized state, so is this the reason why you chose to build Babbitt such a platform with long Forcipomyia and old end? A: In fact, one of the things to note is that Babbitt's early three writers were not purely technical backgrounds, which contrasted with the absolute dominance of the domestic Bitcoin community, which was a complement. Because, what we can see, mainstream Chinese, the analysis and interpretation of Bitcoin is pessimistic, they are not too able to understand a limited amount of money on the public has the significance and value, they generally will see Bitcoin as a pyramid game, or the trap of a pyramid scheme. So this time, if someone can explain the economic value of Bitcoin well, at the same time can explain to the public its basic technical principles, at that time will appear relatively scarce, we also feel a responsibility, need to stand up, to make some things clear, and not allow Bitcoin in the Chinese community to show a MLM, Or an impression of a hoax. Q: Bitcoin's founding paper, is also the first one to translate it into Chinese, but also the most widely circulated version, then why do you choose to translate this paper? A: It should be the end of 11, there is a volunteer in the community, and then decided to organize an event, to the Ben Cong of the creation of the world's major language translation, at that time, I was to apply for translation into the Chinese task, of course, there are foreigners willing to give me some sponsorship. Q: Do you think the current bitcoin, and you know it in the early days, is still the same thing? Or do you agree,The point that Bitcoin has been broken? A: The demographic and economic activities of the Bitcoin community are indeed gradually different from those of the 2011, a phenomenon that will inevitably occur in the future of the economy. The biggest difference between now and 2011 years is, in 2011, when the community idealists, or some of the activities that are not purely seeking profit, then actively promote community development, then the whole community will become more economic rational, and everyone will pursue their own interests to maximize, then this is one. and secondly, in 2011, Bitcoin trading is very inconvenient, and it rarely introduces leveraged services, and now, the first is the emergence of institutional investor-backed exchanges, the whole process of recharging transactions becomes very convenient, whether it is a spot transaction or a higher number of futures trading, At the same time as the liquidity of the entire market has become more abundant, it seems that it is a more casino-feeling market. So does this mean that Bitcoin is broken? I don't think this is the case, because the number of people involved in the Bitcoin economy is more than the 2010, which is actually a manifestation of the development of the Bitcoin community itself, as well as the rise of new lending platforms in the community, regardless of the price speculation and speculation about Bitcoin, This is actually a sign that bitcoin is richer in its economic activity. So we can actually see that in the Forex market, the world every day is tens of millions of dollars in foreign exchange transactions, in fact, the vast majority of foreign exchange for the price speculation, real trade for the actual proportion of the exchange has become very little, bitcoin it as a currency, it will come to that step, in fact, need to complete in the economy of the exchange, It may be relatively very small, probably less than 1%, most of the turnover is actually from the speculators price hype. So from the moment the birth of bitcoin to the present, although the overall market leverage is increasing, but we can also see that the price volatility of bitcoin is weakening, but this does not mean that the risk of speculators become smaller, because they use leverage tools will be more. I think our bitcoin community should be thankful to these speculators, rather than attacking them. Q: Now that we've talked about leverage, we've seen recently that the leverage of futures trading is 5 times to 10 times times to 20 times times, and even the exchange provides 50 times times the leverage of trading services, do you think this is a good trend, if the future is even 100 times times, 200 times times the leverage? A: Given the current price fluctuation in the Bitcoin, I think this is not a very good deal market contract design, because although there are hundreds of times times in the currency market leverage, but foreign exchange fluctuations in the annual range is not very large, so in general, the opening of the investors face the risk of total loss of principal, In fact, it is not very big, this is the Bitcoin high leveraged futures market and the largest difference in the foreign exchange market, relatively speaking, Bitcoin futures markets are more risky, of course, thisNot a good thing or a bad thing, this can only say that the people involved in the need to control risk. Q: As one of the earliest investors in the roast Cat Company (Asicminer), I believe that the cold always in the roast cat stock has been a generous return, there is a rumor that the total still holding a large number of baked cat stocks, this is true? Besides, what is the reason for the cold total to create the bit continent? A: Yes, I still have a large number of grilled cat stocks, and I have not sold much of the roast cat stock I bought earlier in its initial offering stage. As for the reason for the creation of the bit continent, if simply, it is also to promote the development of the whole Bitcoin mining technology, because there may be a better team than the existing team, they can make better technology development, for example, I invested in a team, I found B team can do better, then I will definitely choose B team, As an investor, this will not be a problem in any one area. As for the specific main reason, I resigned after the resignation of a group of Zhejiang investors to accept the investment, then ordered a major domestic mining machine manufacturers pre-sale of the chip, but because of the delay in receiving the batch of chips, Zhejiang investors will cause huge losses in capital, in the case of the extension has occurred, Think it is necessary to help this group of investors to recover their investment costs, in fact, it is equivalent to take them another bet, so they have to do a bit of the mainland chip company, and finally, it did help them to save the chip pre-sale losses. Q: A lot of people are very concerned about the price of Bitcoin, so how does cold always think of the recent bear market, and how long will it last? A: I think this bear market is already near the bottom of it, although I can't predict its real bottom, I think it's a good time to buy (preferably without leverage) from a two-year Perspective. Q: We know that since the cold always created a bit of land, A lot of energy is put on the development of the whole company, so what is the current situation of the development of the bit continent? A: The next chip in the mainland will continue to be the world's leading mining chips, 28nm process, at 0.6V voltage can do 0.25w/g. Over the next five or six years, the continent will still focus on the development of Bitcoin chips, providing the bitcoin community with low power and low cost mining solutions. Q: Bit mainland early time launched a free cloud computing force platform, that is, calculate the Force Nest, calculate the current sales situation? Where do the main customers come from? A: From the absolute number of sales out, we estimate that the nest should be the world's largest cloud computing force platform, but now the entire cloud computing platform business model is still in its early days, because the pricing of cloud computing power relative to the real ore machine will be higher prices, the above can achieve a lower return on investment, but I think, Cloud computing power will be the mainstream of future mining. Our customers are mainly from China and the United States. Finally thankful that the cold was always able to accept Babbitt'sThis interview.