At the CoinGeek-sponsored Bitcoin BCH Miners Choice Summit in Hong Kong, Yuan Bo, VP for Sales China and APAC of CoinGeek Mining and Hardware, showed the audience the exciting features of the ASIC chips soon to be sold exclusively by CoinGeek.
One of the anticipated talks at the November 2 CoinGeek-sponsored Bitcoin BCH Miners Choice Summit in Hong Kong was that of CoinGeek Mining and Hardware’s Yuan Bo, who stressed the importance of miners in the Bitcoin ecosystem.
“It’s pretty easy to understand, not like many people think,” he said. Among the four groups consisting of developers, exchanges, merchants, and miners, Yuan said it was the miners who “support everything.”
The CoinGeek Mining and Hardware VP for Sales, China and APAC, explained that it’s the larger mining companies that allow the Bitcoin ecosystem to become successful, while the other three key players ensure that cryptocurrency and blockchain serve practical purposes. “The success of the miners deeply depends on the hardware product from the unit suppliers, like us,” he added.
Yuan demonstrated via a chart the efficiency of CoinGeek mining equipment using Squire’s ASIC (application-specific integrated circuit) chips. He enumerated the current market leaders such as the Antminer S9, with an efficiency of 93.1 watts per terahash (W/TH); the Avalon 921, at 85 W/TH; the Avalon A9, at 57.33 W/TH; the Ebit E11++, at 44 W/TH; and the Antminer S11, at 42.86 W/TH.
Squire beats all of these, generating 19 terahashes per second and using 700 watts for an efficiency of 36.84 W/TH. “This is the best miner as far as we know,” Yuan said.
He said that CoinGeek Mining and Hardware endeavored in “pushing the limits of the technology.” Specifically, they aim to increase hash output, while reducing power consumption. “Also, we’ll be able to position ourselves for secondary market opportunities [such as] AI as it continues to grow,” Yuan said, leaving the audience guessing what else the company has in store.
Apart from the obvious dedicated work involved, Yuan credited much of CoinGeek Mining and Hardware’s success to their choice of partners. “We have really strong partners such as Squire, Samsung, Foxconn, Gaon Chips, Aracore, Ara Systems… Actually, they’re all leading companies in the industry,” he said.
Join the CoinGeek conference in London from November 28 to 30, with the special, invitation-only Miners Day event on November 27. It’s the perfect opportunity to meet the members of the BCH community and discuss not just the ongoing reality of Miners Choice for Bitcoin going forward but also why enterprise applications needing Bitcoin should stop moving in order for the ecosystem to grow. Also, join the (free) bComm Association and be part of the crypto revolution.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Miners’ success ‘deeply depends’ on hardware from suppliers like us, CoinGeek Mining’s Yuan Bo says appeared first on Coingeek.
CoinGeek Mining and Hardware CEO Joe Chin, in a recent presentation, enumerated the advantages of mining with SVPool as well as running Bitcoin SV.
Even with SVPool establishing itself among Bitcoin BCH miners soon after its launch last October, Joe Chin, CEO of CoinGeek Mining and Hardware, continues to think of how to draw miners in.
At the CoinGeek-sponsored Bitcoin Miners Choice Summit held at The Grand Harbour in Hong Kong last November 2, Chin discussed the advantages of mining with SVPool as well as running the Bitcoin SV. SVPool, a personal initiative of nChain Chief Scientist Dr. Craig Wright, is managed by CoinGeek Mining and proudly runs the Bitcoin SV full node implementation.
Chin told the audience, “Just because we launched [in October] doesn’t mean the work stops there. Almost on a weekly basis, every sprint, we’re adding new features. We’re also thinking of ways to incentivize miners who mine with us. We’re working on plans perhaps to give them access to the new miner hardware that we will release shortly.”
Chin also believes it’s important to remain receptive to miners’ needs regarding costs and payments. “[W]e also have feedback from miners, that many of them desire the steady income of PPS+ [pay per share plus], so we will be introducing that shortly. But I still believe that with zero fees, and if you have enough hash rate, you can actually do very well with the [current] PPLNS [pay per last N share]. And we’re also working on promotions and loyalty programs. So those will be announced in the very near future. So I encourage you guys to go to svpool.com/, and sign up. It’s very, very easy, so please do.”
Although coming to the mining pool scene rather recently, SVPool brings much experience in competing with other pools. “[W]e started a beta launch for invitation, customer only, in September, and that helped us debug the system… SVPool has a global infrastructure, but more importantly for a lot of you, it’s optimized for Chinese miners. So we have a node right inside China, so as to make sure you have the best, the most optimized performance. And of course, the whole purpose of SVPool is to run and support Bitcoin SV protocol. And also, we provide world-class bilingual customer service in Chinese and English, so it is very much, from your perspective, built for Chinese miners,” according to Chin.
He noted that SVPool supported the Bitcoin SV implementation, designed to maintain the principle of ‘longest chain wins’ as decided by users on their computers. SVPool, he said, “supports stable, scalable, and secure protocol, and it’s a professional Bitcoin platform, and it supports big blocks that are miner-configurable, and in the future, it will increase your revenue as miners.”
Chin said when the block reward halves in 2020, miners will want to make sure their earnings don’t take a hit. “[W]e will help you increase your earnings, even when we’re looking at the halving in 2020,” he said.
If you’re interested in learning more about Bitcoin SV and all the new developments in nChain, join the CoinGeek conference in London from November 28 to 30, with the special, invitation-only Miners Day event on November 27. It’s the perfect opportunity to meet the members of the BCH community and discuss not just the ongoing reality of Miners Choice for Bitcoin going forward but also why enterprise applications needing Bitcoin should stop moving in order for the ecosystem to grow. Also, join the (free) bComm Association and be part of the crypto revolution.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Joe Chin on why miners should join SVPool: Like Bitcoin SV, we place miners first appeared first on Coingeek.
