1. After Kennan Wuzhi, Bitland will also go to Hong Kong IPO;
According to Bloomberg, Bitland CEO Wu Jihan is brewing IPO. Although there is no specific plan yet, he expressed his willingness to allow Bitmain to be listed in Hong Kong or overseas. The market issues US dollar-denominated stocks as this will provide opportunities for early investors including Sequoia Capital and IDG Capital.
Mizuho Securities analyst Kevin Wang said that although there are many obstacles, Bitland's products will attract many Hong Kong investors, because Bitland is currently one of the few leaders in the Chinese chip industry.
Bitland produces and processes various chips for cryptocurrency mining, including Bitcoin, Ethereum, Monroe, etc. Bitcoin CEO Wu Jinhan said in an interview that the field of artificial intelligence requires a lot of calculations. This is a natural choice. Wu Jihan also predicts that AI chips can account for 40% of Bitland’s revenue in five years. They just try to do something that they cannot control well.
According to the data, as of the end of February this year, Bitcoin's 2017 operating profit was approximately US$ 3 to 4 billion. Compared with competitors, Nvidia generated approximately US$ 3 billion in the same period.
In addition, Canaan, the second-ranked maker of Bitcoin mining machines, has officially submitted a listing application to the Hong Kong Stock Exchange, or raised about one billion US dollars, which may be another incentive for Bitland to announce the IPO.
2. ICO breaks, mine transformation Who can pick up the spring of digital currency?
Text / Zhou Yuting
In recent days, bitcoin prices have plummeted by 20%, causing a panic in the virtual asset market. Throughout the turmoil during the Spring Festival, many users fell from heaven into hell, fell to pieces, or became disabled. They became frightened, and the market was tiny. The vibrations made them panic.
“Anytime the knees go to knees, and finally to the ankles, how long does the bear market last?” 'A miner worried that the bitcoin miner that he had just bought last year had not been dug back, but the bear market suddenly arrived. The market was so bleak that he bought it. The miner did not expect it. Last year, bitcoin prices went all the way from $1,000 to the 20,000 mark. In February of this year, a cliff-like fall occurred and fell to more than 7,000 US dollars. In September last year, the ICO was regarded as illegal by the Central Bank. Afterwards, many bubbles burst and 90% of the ICO broke. The exchanges fled in droves to leave a feather. The entire virtual asset market was bleak and cold. 'This honesty is raging, the bubble is still in the fall.' The old cat described it.
The “water delivery” service industry that followed it is prosperous. In the monthly activity information release in Beijing, the blockchain summit takes up 90%, and the specifications are very high. It is not the “world's top” or the “most historical” location. Most of the locations are At five-star hotels, tickets are on the move. The training of blockchains is spreading rapidly. The social groups are all looking forward to being 'big brothers' in business suits. They all claim to be taught to embark on the pinnacle of life. Laws are not the same. For the entry-level white, the concept of the Internet, revealing the insider of the circle, it seems quite avenues. A little knowledge of Taiwan, but it is also catching up with the trend of the times. The game of traditional investment is completely different , Find a quiet place, boil a few pots of wine, touch a cup, make friends, take a good look, give you tens of millions, sprinkling and sprinkling, do a stock exchange. People in the circle are trapped, outside the circle The people rushed in anxiously. Even the aunt of the square did not dance, and went to the so-called 'First World Blockchain Conference' in Macau to seize news headlines.
However, under the winter cold weather, some people squatted on the ground and kept their strength. The regular army is quietly entering, capital is gradually returning to rationality, and all kinds of new and old forces are merging. The application of blockchain technology has receded and wiped away dust. , Some high quality projects surfaced. The mining industry is struggling to dig out coins, and it is actively transforming the manpower service. After many deals flee overseas, they will fully deploy, cultivate ecology, incubate projects, acquire mines, and recruit for the next bull market. power.
'Capital capital has entered the stadium
Lin Tao is the chairman of Taoluo Capital. Now he personally brings together a team of more than 40 people to develop a blockchain project. 'Study financial application scenarios based on blockchain technology. Mainly in the development of credit and equity crowdfunding platform. Two alliance chains. The former helps small loan companies to share customer information and assess customer credit. The latter is an equity crowdfunding platform for sharing projects, customers and investors, gathering resources. ' Lin Tao introduced to Netease Technology.
In 2013, he contacted Xiao Feng, Chairman of the Wanxing Blockchain Laboratory, and learned about the blockchain technology. 'I listened to Xiaofeng for two years and I gradually understood and entered this field.' Lin Tao has worked in the financial sector 20 After many years as an investor, he focused on the development of industries such as finance, technology, culture, and consumption upgrades. In 2016, Lin Tao finally felt that blockchain technology would overturn many traditional business models. During that time, we looked for blockchains everywhere. Projects in the field. Have seen the financial sector, with the smart contract attributes, as well as the power industry, consumer industries, etc., but there are few things that can really solve the market pain points, which are feasible.
Therefore, he started recruiting himself and studied from the perspective of reducing trust costs in the financial sector, and finally determined credit and equity crowdfunding. However, with the increasing number of blockchain projects in the market, he also Began to invest in automotive aftermarket, home consumer market and other fields.
After 90, Wu You is the chairman of Jinghu Capital. His investment strategy is exactly the opposite of Lin Tao after 70. 'Some people have said that bull market is more financing, and bear market is more investment. Our investment strategy is widely spread. All water selling Business, such as community, media, etc. We don't care if its valuation is tens of millions or 100 million. We only invest 1 million. We hope not to miss some good projects. Just like who voted in the early 1990s. In Tencent, the return was unimaginable. 'However, this is only Wu You's small business. His bigger action is overseas. Currently, he hosts the National Sovereign Digital Currency Fund of the Pacific island nation of Vanuatu. Vanuatu is the South Pacific. An island. In October of last year, the country became the first country in the world to claim citizenship through bitcoin. 41.6 Bitcoin was changed to an identity. At that time, a Bitcoin was about US$5,000.
The digital currency has also caused the traditional investor's world to tear apart. Investors with financial or technical backgrounds have seized the opportunity and decisively entered the market. Li Xiaoyan is a founding partner of Dingcui Investment and has been infiltrating the traditional private equity investment industry for many years. She thinks that the combination of artificial intelligence AI and blockchain will become the era of the Internet of Everything. Now her investment has begun to tilt more towards the field of artificial intelligence AI and blockchain. 'ICO has greatly shortened the investment time, compressing from months. In a few days, judgment is more tested, but value investing is still fundamental. And under the bear market, as with the logic of equity investment, the more the market is calm, the more a bubble is washed away, the easier it is to find a good project.
There are also some traditional manufacturing investors who hold 100 billion yuan of funds and do not know how to enter the market. They fear that they will miss the opportunity to seize the 'big fish' and panic. 'Some big brothers still don’t use digital currency wallets. Take tens of millions to get the assistant to test the water directly, and some people who are looking for trust can do the agency to seize the opportunity. 'A coin circle investor revealed. 'But there should have been a capital predators admission. I feel the dark flow Moving, the money is very fierce. Many of the things we see now are not real. What the big guys do, we don’t know, will definitely overturn a lot of things, and these people may not be the people who are standing on the table now. This is most scary. '
'Three hundred million, don't you cast, don't cast it?'
"At present, there are less than 1% of the people who really understand the technology of blockchain in the world. I am one of them. 'He is the firm believer of blockchain technology.' In 2010, I came into contact with Bitcoin. At that time its technology. I haven't been named a blockchain yet. I'm particularly excited about this new type of technology. After studying it for a long time, I didn't realize that I would buy Bitcoin. I recently got a few of them. 'Sidan Dangsong is very sensitive to cutting-edge technology, However, it has taken a step forward.
He was the first generation of Internet entrepreneurs. In 1998, he founded China's first talent recruitment website and started with Tencent and Netease. After the next two decades, he has been deeply pursuing the human resources Internet services. In the following decades, many recruitment websites It has mushroomed, competition is fierce, and homogeneity is very serious. He has been trying to make differentiated products. At the beginning of the 90s, the first time Matsumatsu saw the enormous potential of artificial intelligence, trying to use big data calculations to find jobs. The employer and the recruiter do a job match, but because the two parties involved too many variables, the algorithm was not successful. So he was overtaking by many peers.
In 2014, blockchain technology finally caught the attention of the IT circle. Many people in the technology circle felt its magic but they couldn't see through it. Then they started a discussion meeting. 'At that time, there may be only a few hundred in the whole country. People know the blockchain technology. There are very few participants. Xiao Feng and Han Feng, who are active in the field of blockchain, all participated in the show. 'The first time, Lianheung NetEase Technology recalled, 'At that time, everyone thought that this technology should be Can only be applied to the internet finance field. '
At that time, Matsuzaka was also building a new product that mainly addressed job seekers’ career credit issues, documented each person’s workplace behavior, and enabled better people to obtain matching value in the market. However, due to the data stored in it. The centralized server, lack of authority, the market is not widely used.
Until 2016, when the blockchain technology was gradually known to more people. Many people suddenly realized that its application can be so extensive. The early hall Song Lima thought of building a professional resume information platform based on blockchain technology. The chain can't be modified to objectively record employee occupation data and solve data trust problems. 'The company scores employees' performance. Good performance employees can get our tokens as incentives. There are currently more than 100 cooperative companies and more than 50,000 employees. The career data is on the chain. 'The letter of credit chain is the few applications that are already on the market.
'Some projects are not doing well in the traditional field. Now they want to re-float through blockchain technology. We will generally refuse. Some projects are for blockchain and blockchain, and do not solve the industry's pain points at all. What's even more ridiculous is that taking a few pages of white paper, behind the air, dares to move and it will cost billions of dollars. ' A veteran investor is deeply impressed by recent experiences and refreshes three views.
“This time was really crazy.” Ma Yong is a technical person who has returned from Silicon Valley to start a business. In 2017, when he heard about blockchain technology, he felt that he should do something. Then he studied on-line projects every day. In April and May of this year, a project lasted for several weeks. In September, there were dozens of projects a day and a blowout broke out. At the beginning, each of my projects studied its white papers, teams, etc. Finally, it was overdone, and the bubble was too serious. ". But Ma Wei finally found a project that felt more reliable. The 'ZIL project was done by a team in Singapore, mainly to solve high-throughput applications to provide operating platform. I am now responsible for marketing in China. . '
At the end of August 2017, the first time Matsumatsu finally made all preparations for issuing tokens. In September, the central bank suddenly halted. Their tokens were not issued successfully. At that time, Su Chun (a pseudonym) was moving faster than the first ballad. At the beginning of August. His project raised less than 20 days to raise 10,000 Ethereums, about 10 million US dollars. 'Many people at that time, through various relations to find me to buy coins. We are particularly sought after.'
A senior investor now recalls the scene at the time and also sighed: 'Last year the project was done by cattle. We have never seen the project party's attitude so arrogant. There is no room for negotiation. Tell me directly: 3 billion, you If you don't vote, you won't be able to play anymore. Give an address, play a coin, and don't even play.'
However, after the 1994 policy, the plot was reversed instantly. Su Chun said: 'Some people wrote a threatening letter to us for a thousand yuan, took the knife to the door and defended their rights, took banners on the road, and threatened to jump off the building. I did not dare to go out, did not sleep a few days and nights, all the money quickly returned. '
After entering the bear market, the investment became cautious, the project party found it difficult to find funds again, and the requirements of the exchanges were more severe. 'Now I look at more than 150 projects every month, and may only have one or two head projects.' Coin Tiger partner Yan Tao of the exchange talked at the discussion table. 'A lot of projects are bare and less than a dime. The investment bank agencies are out of sight of you. The project itself has no ability to resist risks and has not shaken resource capabilities. A technology geek boasts, this is not enough. Overall, the quality of the project is higher than it was last year. '
The exchanges have fled to leave a feather
After the 1994 policy, many exchanges have moved overseas. In the three major Chinese transactions, Angola and Okex settled in Malta and Belize, respectively. The currency is waiting for the policy to loosen and move into Hainan, China.
Lin Tao chose Japan, which has the highest degree of acceptance of digital currency exchanges. He is actively preparing and preparing to cooperate with a well-known Japanese financial institution. The main content is foreign exchange trading and virtual currency business. In April, Japan just issued figures to 11 companies. Currency exchange licenses. 'Although Japan's financial freedom is not open enough, the market is relatively closed, but the yen is generally stable, has a good economic foundation, and has strict supervision and an orderly market. We also hope to start from the strictest place. To allow the Exchange to gain a foothold in the long term.
Blackstone's blockchain CEO He Huan chose to place the exchange in New Zealand. From the beginning of the establishment of Blackstone, He Huan turned his sights on the global blockchain industry, including Canada, Australia, and Japan. The countries in the blockchain economy are at the forefront of cooperation. Currently, the Blockchain has basically built a full-chain industrial system ranging from project incubation to rating and circulation. More than a dozen successful projects have been invented. More than 300,000 users.
The data shows that under the bear market, the frequency of user transactions has dropped, and new users are hesitating outside the market. 'We started to cultivate the ecology. First of all, we have nurtured communities, built communities and worked with third parties to push quality information on different platforms. , We cultivate accurate users on social media such as telegraph groups, twitter, and Facebook. Second, we incubate and assist high-quality companies in this area, such as venture capital or corporate services in Silicon Valley, Beijing, Zhejiang, Shanxi, Fujian and other regions. Cooperation to help enterprises integrate traditional industries with blockchain technology and complete transformation and upgrading. In addition, we will invest in vertical industry media, establish vocal channels, and publish real-time information in a timely manner. We will cooperate with the mining pool strategically to provide sufficient platform transactions. The liquidity. This is the mainstream practice of the current exchange, which is also for the arrival of the bull market, positive layout. '
However, the issue of financial security is still a Damocles Sword hanging over the top of the exchange. Back in 2014, when the world’s largest Bitcoin exchange operator Mt.Gox, was bankrupted by hackers. Last year, Korean digital currency The exchange Youbit also suffered the same fate. In March of this year, currency security was once again exposed by hackers. These large operators are still the case, and the security of the funds of some small exchanges is even more worrying.
In addition, at present, digital currency exchanges are mostly in the grey area of supervision, and bear multiple roles such as development and maintenance work, brokerages, investment banks, securities regulatory commissions, and rating agencies. As a result, fixed positions and positions are colluded with project users to injure users, and the trading volume of machines is falsified. And other negative news is always on the ears. A founder who is preparing for an exchange said: 'If things go wrong in the past, there will really be problems. Too many things can be done to test human nature. We are taking out some roles and handing them over to third parties. Digital currency exchanges, like the equity market, have a simpler role.
For these problems, many people hope to decentralize the exchange. However, currently subject to its expansion capacity and operating speed, the user's experience is not good, and the transaction volume is also limited, so decentralized exchanges do not It appears on a large scale, but many people think this is the direction of future development.
Half the mining revenue per 100 days and eventually approaching 0
Under the bear market, capital became cautious, public chain technology was not perfect, and the application of tens of millions of users had not yet appeared. When the cold was bleak, the service industry was in full swing. Xue Manzi once said that many people looked down to Blockchain companies do white papers, PR, community operations, project evaluation agencies, digital currency investment banks and other service companies. I think this is absolutely just what you need. If you can make a field leader, it is a great thing.
"The era of blockchain is still the era of traffic, and traffic is the one to gain." Chen Yun, the founder of Cloud also believes that Zhang Peng (a pseudonym) is embarking on training. His goals are two, one is to do vocational training. Mainly for investors. 'They mostly call for learning and want to learn to invest in speculation. This is just a human need. On the other hand, there are more than 10,000 exchanges in the world now lacking users and traffic. Through training courses for them Build a bridge, this is a very marketable deal.'
Wang Runde's Digital Moment Technology Co., Ltd. is located in Beijing's 'Small Universe' Wudaokou. Their position is to do a full ecological accelerated service for blockchains. On the one hand, they are looking for a link between business and blockchain technology, and help their project fast areas. Block chaining, complete industrial upgrading. On the other hand, they also provide the bottom-level technical support for the industry-level chain. He thinks that the current public chain appears more in the industry, solving problems in specific areas, or Technical issues. The high threshold for large public chains requires huge capital operations and community support. It is not yet easy to implement.
Currently, they have served more than 30 project parties, including Canadian companies, US listed companies, etc. 'From the end of last year, the madness of the blockchain market has made many people start to pay attention to blockchain technology and are actively looking for a combination. At the same time, the demand for blockchain in SMEs is particularly large, and it will create an unprecedented ecological incentive and consensus system that can empower new SMEs and create new competitive forces. Therefore, we started to do this. Business. '
Hang Xinyu and all the 'miners' are constantly importing blood into the world of digital currency. The mines and mines they currently operate are distributed around the world. The mining pool ranks the 16th largest bitcoin pool globally. The name is expected to enter the top ten at the end of this year.
In April 2017, this person who was the architect of the traditional enterprise IT system broke into the blockchain circle. His friends established a large-scale mine nationwide as early as 2015. Hang Xinyu joined at the end of the year and became a partner.
The mining business is particularly affected by Bitcoin prices. 'This year it is estimated that at least half of the small mines will go out of business.' Hang Xinyu told Netease. In December 2017, Bitcoin prices will soon break through the high of 20,000 U.S. dollars. The price of the miner's machine was once escalated to 140,000 yuan. Bitcoin plummeted a year later, the profit of the miner's machine dropped by 90%, and the miner's price dropped below 10,000 yuan.
According to Hang Xinyu, the main cost of mining is composed of electricity bills, mining machine prices, labor costs, etc. The decisive factor is the electricity bill. Bitcoin mining difficulty is now rising by 10% every 13 days, which is calculated every 100 days. About half of the mining revenue is halved, but the price of electricity continues to rise. With electricity costs above 3, the profits are very thin. Nowadays, many of the domestic mines have reached more than forty-five yuan in electricity prices. 'A lot of people who previously bought expensive miners were trapped. In a dilemma, the mining machine was sold and immediately lost. Continue to dig, digging out of electricity bills, but also lost. Put in there, behind the new type of machine, this machine will be eliminated. '
To this end, Hangzhou Xinyu's mining pool is preparing a power trading exchange. 'Dig to a certain time and do not want to dig, you can sell the existing calculation power on the exchange to others.'
Computational force calculation is the long-term layout of Hang Xinyu on the mine pool. 'Whether in the current Internet era or the future blockchain era, the physical world's network layer is needed, and data applications are used as the base layer, and these all require the support of machines. A major business of our group in the future is to specialize in data service outsourcing.
How long will it take for a bear market? Well-known financial writer Xiao Lei, who once successfully predicted the time and price of Bitcoin's collapse, was sought after by the outside world. He felt that in March and April, the bubble in Bitcoin washed away 80%. It will be long-term in the future. At 20% volatility, 'mining, service, and exchange, etc., who can't hold off and kill people. This is also the process of reshuffling. After that, the market will breed new business models. Auxiliary trading patterns. '
At the same time, he believes that China's financial markets are generally top-down, led by the government. In this process, understand the logic of the government's digital currency, it is very important to follow the policy to do something. This directly determines the future of the user's Cardinality, 'If you're a 'guerilla', no matter if it's a multi-bull thing, the user base is suppressed in a state, it is difficult to grow in size. ' Netease Technology
3. Central Bank officials: There is no relevant information on the introduction of Bitcoin supervision documents in June;
Shanghai Municipal Government Information Office held a press conference on the '2017 Lujiazui Forum's preparatory work and major activities' press conference. Sun Hui, deputy director of the People's Bank of China (PBOC) Shanghai headquarters, said that there is no relevant information on the introduction of Bitcoin supervision documents in June. As for the next direction and trend of supervision, Sun Hui said that there is no latest news at the moment. 'But we have a basic principle that will take appropriate and appropriate measures for bitcoin.' (Wall Street News)
4. Kai-fu Lee: The Chinese core has a long way to go. But AI surpasses the United States in only 5 years.
Yesterday, Foxconn held the Summit on the Integration of Real Economy and Digital Economy in Shenzhen and celebrated the 30th birthday of Foxconn. Kaikai Li, chairman and CEO of Innovation Workshop, shared the theme at the AI-Integrated Development of Industrial Internet and Consumer Internet. He first talked about the gaps and differences between China and the United States in the field of artificial intelligence. Li Kaifu expressed disagreement with many experts who believe that the United States leads the point of view. Actually, China is absolutely leading in many areas. We have a good foundation, and we have a full range of artificial intelligence. It only takes five years to go beyond the United States, but he added that we still have a long way to go in terms of chips.
In Kai-Fu Lee's view, the development of China and the United States is a parallel universe. American companies are most approving of breakthrough innovations made by Jobs or Musk, but China is more likely to be able to run faster and faster. The ideas of others blend with our ideas.
The specific performance is that the United States pays more attention to technology, and China pays more attention to the connection between applications and products. In particular, it can develop new business models under a large number of users. Many American companies are mission-oriented, if their mission is not Related to the absolute reluctance to do, but China's entrepreneurial model is more result-oriented, so many companies are moving towards diversified development, the United States is the lighter the better, Instagram's 11 people team sold 1 billion US dollars to Facebook .
When talking about the future development of artificial intelligence, Li Kaifu pointed out that now that AI is sufficiently popular, it is not necessary to look at the giants of the world to do AI. There are two stages in the development phase of AI, and technology is the mainstay of the development of AI. Anyone who knows AI is a cow, but today AI is popular enough to become application-oriented, so we must understand customers, understand business, understand verticals, and understand how to make money. This is the king, summing up one sentence: Past experts King, now the data is king. Netease Intelligence