Interviews / Russian guys discovered the farm of mining Bitcoin in China

alexander1 (38)in #russia • 8 years ago

The future of mining Bitcoin in China and one of the largest "farms" in the world.

In the wake of the growth of Bitcoin today grows a lot of start-ups. Some exchanges provide for the exchange of cryptocurrency, others adapt gaming services.

For those who do not know, what is at stake today is one of the founders of the OSH Group Roman Bura visiting children from XBTec Team, who placed in China one of the largest "farms" in the world for the extraction cryptocurrency Bitcoin. Representative XBTec Team (Yuri) agreed to give us a short interview ..

OSH Group: Hi! Tell us how to come into this business?

Yuri: It all started a couple of years ago when a few cryptocurrency yet know. In those good old days it was still relevant mining (mining Bitcoin) on the cards. Later they began to emerge of the development team, which began producing specialized equipment and "draw" chips.

Even now, not all familiar with Bitcoin term, can you tell us briefly what is the difference from the other we are all aware of virtual currencies such as Webmoney or PayPal?

Yuri: Strictly no Webmoney, PayPal or can not be called a virtual currency. This conventional units, which are the electronic equivalent of a conventional money - dollars, euros, yuanyam. Bitcoin is an independent unit, not tied to other issuers. Webmoney system is already integrated into its system Bitcoin. The Webmoney you have different wallets, if the WMZ - is the US dollar, WME - is the euro, the WMX - is the equivalent of Bitcoin. As far as I know Paypal leadership also decided to implement Bitcoin in your ecosystem, even subsidiary made for this, «Braintree» seems to be called.

Who is the founder of Bitcoin? I have checked the rate is now 1 coin is worth about $ 500. I wonder who buys them at this price?

Yuri: He created it about 5 years ago anonymous, hiding under the name "Satoshi Nakamoto". The emission takes place by calculating a cryptographic algorithm SHA-256. The issue and distribution of coins Bitcoin Anyone can participate by using their computing power. The process of production of coins, popularly called "Mining". When Bitcoin only born prey engaged only geeks, programmers and mathematicians, keen on the whole idea of decentralized systems. This is his feature - a decentralized system, which has no owner. Market price fluctuations in the market and are determined solely by supply and demand. Another feature - a deflationary model, the system strictly limited number of coins.

When Bitcoin only born prey engaged only geeks, programmers and mathematicians, keen on the whole idea of decentralized systems.

How Bitcoin coins already released, and when the last coin to be released?

Jury: To date, the system approximately 13 million coins, the last block of the coins will be generated in 2140. The total amount will not exceed 21 million coins. "Satoshi" laid out all the source code publicly available, so anyone who is familiar with programming can find and view it.

I see that you are not just selling equipment, but they themselves are engaged in production of coins. Thank you so much faith in the future of Bitcoin, they are ready to "freeze" significant resources in this "iron"?

You know, we must believe in the future of Bitcoin more than any other currency in the world, but I would not like to engage in polemics.

Well, let's say, I will set myself a couple of your miners, when I can recover it?

Yuri: It depends on the rate of Bitcoin and electricity prices. No one can predict the course of Bitcoin, but we must understand that while your miner works in your best interests to rate did not grow up, and stood on the spot or even falling.

Why? After all, if Bitcoin exchange rate will continue to grow, I Otobaya more money.

Yuri: If the course will continue to grow, the growth rate of the network complexity is also growing, albeit with some delay. We ourselves can not calculate that is more favorable for us - on the one hand the prices jump up increases the demand for miners and generates cash flow, on the other hand, we have invested significant resources in its own "farm" and we believe the whole economy is not in dollars but in Bitcoin.

How many have invested if not a secret?

Yuri: Some 1,000 meatballs.

It's half a million USD at the current exchange rate?

Yuri: About that.

Link to the video on Youku.com

Tell us how you see the future of mining in the market?

Yuri: Here there are fewer places for lovers - individuals, Now here come big investors who invest millions of dollars in the production of coins. See, now energy costs are between 10 and 30 percent of "namaynennogo". While that is a secondary factor, but we are confident that this is a matter of time. I think that after about 5-6 months, the issue price of electricity will be decisive.

It turns out that in places where electricity is cheaper, to engage in "Mining" is more profitable?

Yuri: Well, in general, yes. That is why we believe that lone miner soon it will be unprofitable.

View any prospect?

Yuri: Extremely precise - Mining goes into the cloud. I mean, it will only cost-effective data centers with cheap electricity. TREND on "sloud mining» Already customer requests visible. Not everyone has sufficient technical skills to set up a miner, not all are willing to endure the noise emitted by them, especially since not everyone has access to cheap electricity.

Extremely precise - Mining goes into the cloud. I mean, it will only cost-effective data centers with cheap electricity.

Yes, I noticed that you have enough noisy.
This cooler so noisy? Do you think that anything to do with it?

Yuri: Of course, the air cooling system is ugg. That is, it certainly works, but it is the last century. We have the technology immersion cooling system, but it is still damp. I think that by October will bring to mind.

What does "immersion cooling system" can be more?

Yuri: In order to remove the heat from one square centimeter necessary to bleed the air cubic meters. The thermal conductivity of the fluid, we use 1500 times higher than the thermal conductivity of air. Bleed the liquid glass is easier than a few cubic meters of air. The boards with the entire base component are placed directly in a silicone fluid. Fluid is circulated through the heat sink with a pump.

Interesting. A few words about your commands.
Why did you decide to lead the development in China?

Yuri: Well, mostly guys from Russia and the CIS, all we have 5 people, there are a couple of Chinese friends. China chose because all component base on hand, a tangle of high-tech companies, infrastructure. Shenchzhen today is the Chinese "Silicon Valley".

Tell me that you liked and did not like in China?

Yuri: Well, personally, I'm in China for the first time, so have nothing surprised. I liked a lot of things. I did not like the local food, the stench in the streets.