An Inside Look at Genesis Block — Hong Kong’s New Cryptocurrency Working-Space

This past August news.Bitcoin.com reported on a ‘mystery miner’ from Hong Kong who helped jump-start the Bitcoin Cash blockchain.

The miner, Wincent Hung, operated from an establishment located in Wan Chai, Hong Kong, which at the time was being built into a cryptocurrency working-space. According to Hung, the new the “Genesis Block” co-working space is now open and aims to increase virtual currency accessibility.

The Miner Who Helped Kickstart Bitcoin Cash Has Opened His “Genesis Block” Working-Space in Hong Kong

On August 1, the miner from Hong Kong who first initiated the mining of Bitcoin Cash (BCH) with the Chinese pool Viabtc, decided to advertise his new business by leaving his local address within the coinbase data of each block the pool processed. The address is a well-known hostel in the Wan Chai district of Hong Kong called “Check Inn HK,” which is located at 269-273 Hennessy Road. At the time, Hung told news.Bitcoin.com that the BCH mining was just for fun and a way to advertise his new business the Genesis Block.

News.Bitcoin.com chatted with Wincent Hung last night, and he told us the working-space is now open Monday through Friday, 9am-6pm.

“We aim at providing a space for the community to socialize and to increase the accessibility and liquidity of cryptocurrency,” Hung explains.

Delivering the Correct Message About Cryptocurrencies

The Genesis Block establishment provides services such as trading, a hot desk, co-working office space (for fintech, blockchain, and cryptocurrency-related projects), an event space, a mining rig reseller, and four cryptocurrency ATMs. Three one-way ATMs will procure bitcoin, Ethereum Classic, and Bitcoin Cash and a two-way bitcoin ATM is planned for mid-October.

“The Genesis Block location is a physical setup, to make cryptocurrency more tangible,” Hung tells news.Bitcoin.com.

Cryptocurrency is new, actually not for some people, but many people have a misunderstanding, so we need a space to deliver the correct message to the public. We will also hold seminars and meetups at the center.

Genesis Block Owner: “Miners Mine for Profit”

Hung says the cryptocurrency working-space is open to the public, but the team plans to have its grand opening on November 3.

“So far we got a good response from the Hong Kong crypto-community,” Hung details. “So at least the community welcomes us. For general HK residents, we also think there will be a positive impact. We can guide anyone who wants to know more about crypto step-by-step.”

Seeing how Hung’s mining operation impacted the BCH network during its first week when his pool mined nearly ¾ of the entire network’s blocks, we decided to ask him if he was still mining any cryptocurrencies. “It depends on which one is more profitable,” Hung replies. So news.Bitcoin.com asked him to clarify if he was still mining both BTC and BCH chains. “Yup — Miners mine for profit,” Hung adds.

What do you think about the Genesis Block working-space establishment in Hong Kong?
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