This is what we do for Lightning in Japan.

So yeah, it's a little bit faster than I thought.

But I have like four minutes, but that's about it.

So thank you.

Thank you.

Thank you, Mr. Koji Higashi, for your inspiring keynote.

Thank you very much.

Next up, may I invite Mr. Obinosu, CEO of Fedi, to deliver a keynote on Fediman and Fedi.

Ladies and gentlemen, please join me in giving a round of applause to Mr. Obinosu.

Good afternoon, everybody, and thank you for having me.

So my name is Obinosu, and previously I was the CEO and co-founder of the UK's longest

running Bitcoin exchange.

In fact, it was one of Europe's longest running Bitcoin exchanges.

Now I am one of the co-founders of Fedi, and Fedi exists to accelerate adoption of FediMint,

which is a powerful layer-free scaling solution for Bitcoin.

Now, you may not have heard of FediMint at the moment, but I can guarantee you that will

change over the coming months, and I'll explain why.

Now, many people think there are a number of challenges in Bitcoin, or with Bitcoin.

There are perceived challenges.

One is there is a challenge around extensibility.

People think that Bitcoin cannot be used for DeFi or smart contracts.

The second is custody.

Now, we know with all cryptocurrencies, we can use hardware wallets and software wallets,

but the protocol itself doesn't have inbuilt support for custody, like some alternative

currencies like Filecoin.

The third is scalability.

There's this much-held understanding that Bitcoin is slow, it can only do a few transactions

per second, and even with the Lightning Network, which allows for low-cost, super-fast transactions,

people still feel that it cannot scale to billions of users using the Bitcoin network.

And finally, Bitcoin provides a reasonable level of privacy out of the box, but stronger

levels of privacy are always desirable.

Now, this leads a number of people, users and builders, to look at alternative currencies,

but unfortunately, they often are more centralized, and they are incomplete, and they are less

secure.

Now, what is the solution?

The solution is what we call a federated OS.

Now, think of these like the OSs that you have in your iPhone, your iOS, or your Android

OS for your Android phone, or the macOS for your MacBook.

An OS is the thing that makes everything else on your computer or your mobile phone work.

Now, a federated OS is the same, but instead of it running just for one computer, it runs

for a community, an organization, a company, any group of individuals.

And it provides an independent way, and this is really important, an independent way for

that community, that organization to take control of their money and their data.

And FediMint is the world's first federated OS.

Now, how does FediMint work?

At its base, it's a community custody protocol.

So it is built in custody from the get-go.

It is run by trusted members of a community.

We call them guardians, but you can think about them as similar in concept to validators

or verifiers in other layer-free scaling solutions.

And on top of custody, you have baked-in support for privacy, scalability, and extensibility

like DeFi and Web3, baked in.

And these guardians run it on behalf of their community.

Drilling into more detail, at the base of each FediMint is a federated application server.

You should think about this similar to the web servers that power the tens or hundreds

of millions of websites on the internet, Web 1 and Web 2, or the application server that

comes in your iPhone to run all the apps on your iPhone or on your MacBook to run all

the applications on your MacBook.

But the difference is, instead of it running for one individual, one company, one organization,

it is run by this federation of guardians so that, in a way similar to Bitcoin and Lightning,

so that as long as the majority stay honest, it will keep running and operating as expected.

Now, any OS always comes as standard with default apps that you get out of the box.

And a federated OS is no different.

With FediMint, you get three standard apps.

We call them FediMint modules with every installation.

Now, the first is Chowmian eCash.

Chowmian eCash is a privacy-preserving digital currency protocol.

It's a form of digital money.

And the inventor of Chowmian eCash was actually one of the people that Satoshi Nakamoto referenced

in his original Bitcoin white paper.

It has a number of incredible properties, but one of them is that it provides incredible

privacy guarantees out of the box without you having to do anything special.

It just works.

So every FediMint, any user of a FediMint has access to eCash and has strong privacy

guarantees without having to do anything.

The second that comes as standard is Bitcoin Multisig.

This means that every user of a FediMint has the ability to custody their Bitcoin with

the best practice approach of multisig custody.

Again, without having to do anything.

It just happens automatically for them.

And the third is Lightning Network Support.

You just heard Koji talk about the power of the Lightning Network.

One of the most mature Layer 2 scaling solutions for payments.

Every user of a FediMint Federation, this layer-free scaling solution can seamlessly

interact with the Lightning Network.

Send value from one Federation member to another, someone else in a different Federation, or

anyone else on the Lightning Network, and they don't need to know how it works.

It just works.

On top of that, it has multi-asset support, so you can support stable coins, security

tokens, NFTs, whatever, what have you.

And it's self-healing.

A side effect of the Federated OS architecture is if a Guardian's machine goes offline, they

come back online and it will reconnect and carry on where it left off, and no one is

else the wiser.

It just happens automatically.

And finally, it's BTC to the core.

There is no additional token required.

It's so simple and easy to run one of these as a Guardian that there is no real effort

to do it.

Now, you can add a token if you wish, but there will be 100,000 other options of Federations

where there is no token.

So there's very little incentive.

And this is incredibly mature technology.

Xiaomi and eCash this year will be a 40-year-old mature technology.

It is the first digital eCash token and the most mature.

Bitcoin will be 15 years old this year.

The most mature, most decentralized cryptocurrency.

And Lightning is the most mature Layer 2 scaling solution.

It's older than most other altcoins.

And FediMin itself has been built by some of the greatest minds in the Bitcoin space

and has been researched and developed for over three years.

So why is FediMin so powerful?

Three reasons.

One, it's a distributed Layer 3.

And this is important because instead of one monolithic Layer 3, zero-knowledge roll-up

or optimistic roll-up, where if there is an error, everyone in the world who's using

that roll-up gets affected.

With the architecture of FediMin, you have tens of thousands, if not hundreds of thousands

of individual Layer 3s that any group of people, as little as four people can set up

in a matter of minutes.

But because of the connectivity with the modules to the Lightning and Bitcoin network,

they interplay with each other seamlessly and transparently.

This means if one of those hundred thousand FediMins fails, it doesn't affect the other

hundred thousand.

No one else notices.

Avoiding systemic risk.

The second, it has inbuilt safe and easy custody as standard.

So if you are a user, you use this wallet and the experience is as simple, if not simpler

than using an exchange.

But if you were to lose your keys or your keys were stolen, you can use the actual community,

the Federation itself, to help you recover your keys automatically, solving the backup

and recovery problem.

And third, it allows a super easy permissionless innovation.

This is using our module functionality, which you could think about as equivalent to DeFi

and smart contracts, but much more powerful.

It's actually closer to developing applications to work on a website, web one or web two,

or for a PC or mobile phone.

So the tens of millions of people who can already develop websites and mobile apps and

PC apps are able, with less than a day's worth of conversion, to be able to take 100% of

their skills and their code base and translate it over and make FediMin modules.

Compare that to the 10 to 20,000 smart contract developers in the crypto ecosystem and it

massively dwarfs the amount of resource that can come in and build on Bitcoin.

Now, before you say it, no, unfortunately, roll-ups and zero-knowledge EVMs are not

federated OSs.

And there are two reasons, right?

The first is, contrary to popular belief, they are almost all centrally controlled and

they are not distributed.

Now, as I said, almost all of them are monolithic structures, i.e.

there's one sidechain that everybody is expected to use.

If it has an error, and this is very complex code, then every user in the world using that

gets affected.

So it inherently has a systemic risk.

And the second is, although they're advertised as being permissionless, and permissionless

in terms of the way they're structured, they are actually all today centrally controlled.

And you don't have to believe me.

Even as often as recently as a few weeks ago and a few months ago, Vitalik Buterin himself

has stated that almost all roll-ups and zero-knowledge EVMs are on training wheels.

And what he means by that is, even though they say that eventually they want to be

permissionless, they all have some sort of security council or foundation that has the

keys to the system.

They can override any transaction, any application at any point for an emergency reason or for

a non-emergency reason.

And therefore, they are centralized.

That is the definition of being centralized.

The second issue is that they are incomplete because, as I said before, they don't have

custody built into the protocol.

So they don't have mechanisms to help people recover their keys if they've lost or stolen

them.

And that is a big, big challenge as we move to a decentralized world.

And it will only get bigger.

Now, think about an OS.

Imagine your iPhone where you could take a photo, but then you won't be able to save

it to your hard drive, and you just lose it.

Or you can make a number of calendar entries in your calendar app, but then when you turn

off your phone and you turn it on, all the calendar entries will go.

Or you make a note, and again, you turn off your phone, and you lose the entries.

If you do not have built-in support for custody, and only you can use your data, that has use,

but it's not fully useful.

Unless you combine the two, you are not an OS.

So what does this look like?

Let's just compare the Bitcoin with FediMint architecture versus a typical alternative

currency architecture.

This could be, I've just chosen Ethereum as an example, but this could be any other alternative

currency.

It's the same story.

First, you have the layer one.

That's the base currency.

In this case, you have Ethereum.

Then you have your layer two.

You have your layer two.

This is the way of transferring value between one roll-up and another, one layer three.

In the case of Ethereum, it will be cross-chain bridges.

They are complex.

There's many of them.

They are incompatible in standards, and they tend to be unreliable.

As we've seen, there's been many cases where these cross-chain bridges have been hacked

or had exploits.

And then you have your layer three.

Now, the layer three is generally roll-ups and EVMs, and again, there's many of them.

They're incompatible, and they are competing with each other to get you to use their token,

and they're incredibly complex, which is why they need to have this centralized element.

So imagine you're a developer, and you're having to build for all of those different

options.

It's just an immense undertaking.

And if you're a user, it's also very confusing which one to use.

Now, compare it to Bitcoin.

You've got layer one, Bitcoin, the world's most mature, most decentralized layer one

in cryptocurrency.

Layer two is Lightning, the world's most mature, most decentralized layer two payments network.

And then finally, you have this distributed federation of tens or hundreds of thousands

of independent layer three fediments, each one able to be set up permissionlessly by

anyone and able to interact with each other and the rest of the Bitcoin and Lightning

network seamlessly.

So as a developer, you can see which one is probably a better solution.

So in summary, therefore, there really is no comparison.

Now, if you wish to just store your data or your money and not use it, then there's no

other option.

The best option for you is self-custody, of course, and it always will be.

But if you want to not just store your data, but also use it and not just your money, but

also your data, you need a federated OS.

And when it comes to that situation, nothing compares to FediMint.

So what do we do next?

I suggest three things.

If you're just interested to learn more, because this is a whirlwind tour, if you're just

interested to learn more, go to FediMint.org.

That's the official site for the FediMint open source protocol.

There you can find out more information about it.

It's written in very simple, clear language with lots of diagrams, lots of videos.

And also, it will tell you not only the pros, but also the cons, because in the Bitcoin

ecosystem, we think it's really important to be transparent about the limitations of

any protocols we use.

I'm also in Hong Kong right now, and Hong Kong has some of the most gifted developers

in the world.

So if you are a builder and you are interested in getting involved with working on FediMint,

please go to the GitHub and check it out.

Also, check out the FediMint Discord and the FediMint Telegram.

There's a very welcoming community.

In fact, FediMint is actually one of the most popular GitHub projects in the Bitcoin

ecosystem at this point in time, and it's only growing in adoption and use.

And finally, if you are a user or a community leader or a business owner who's interested

in having your own personal layer 3 on top of Bitcoin and Lightning that interacts with

the rest of the ecosystem seamlessly, without having to rely on a particular company or

organization, so you take control of your layer 3, then please consider joining me.

Watch this space.

FediMint combines the world's most fundamental technology of community with freedom technologies

like Bitcoin and Lightning and brings them together to level up humanity.

So I would love you to join me and us in the Bitcoin community to level up humanity together.

Thank you very much.

Thank you.

Thank you, Mr. Obi Nosu for insightful sharing.

Thank you.

And ladies and gentlemen, a gentle reminder for all of you, the afternoon session provides

simultaneous interpretation.

You can use WeChat, Twitter, browser, et cetera, to scan the QR code of simultaneous

interpretation on the signage at the entrance or on your brochure and listen to the simultaneous

interpretation through your mobile phone.

You're recommended to bring your headphones in advance.

So moving on, may I invite Mr. John Riggins, head of international operations of BTC Incorporated

and Louis Liu, founder and CEO of Mimesis Capital, and also Evan from BDK.

Ladies and gentlemen, let's give a round of applause to our speakers in the following session.

All right.

Good afternoon, everyone.

I don't know about you, but I'm feeling pretty excited, pretty jazzed up after hearing that.

Yeah.

All right.

So to kind of start off, we'll do a quick round of introductions.

I'm John Riggins with BTC Inc.

We have run kind of the oldest Bitcoin media business in the space since 2012 at Bitcoin

Magazine.

Louis?

Yeah, I'll go ahead and start it.

So founder and CEO of Mimesis Capital, which was one of the first family office funds,

actually adopted Bitcoin standard.

And our strategy is pretty simple.

We accumulate Bitcoin.

We also founded and invest in Bitcoin companies all around the world.

We could be one of the earliest investors in some of the well-known companies

out there, like Unchained Capital, Swarm Bitcoin.

Evan?

Hello, everybody.

My name is Evan.

I'm an open source developer working on Bitcoin Development Kits, which is an SDK for developers

wanting to build on Bitcoin.

Awesome.

Evan, let's dive a little bit deeper into that first.

Can you kind of give a little bit more insight into what BDK is, kind of how that open source

development ecosystem is working?

Yeah.

So BDK does various things, starting from key management, and also we use a mini script

for backup.

So mini script has two main purposes, from my understanding.

The first one is how do you derive script pub keys, and the hard one is how to spin

them later on.

And then from key management, we deal with grabbing stuff from the blockchain.

So there's multiple ways in which you can grab Bitcoin blockchain data, and then we

handle that into this thing called BDK chain, which is an in-memory data structure, and

then we have persistence, which is storing everything on disks.

So it covers a lot.

Yeah.

That's basically it.

Yeah.

And who kind of is this for?

Who's the product for?

Like, why are you working on this and not something else in Bitcoin?

Sorry, what was the question?

Why are you choosing to spend your time on this?

What's exciting you about it?

Right.

Yeah.

So I think the main use case of BDK is for building wallets and making self-custody easier.

I think that's very important because not your keys, not your coins.

There we go.

That's right.

Lewis, you mentioned a couple of companies you've invested in.

One of them, not your keys, not your coins, is pretty central to what they do in Unchained.

Can you talk a little bit more about kind of what you've been looking for in early-stage

companies to date, and then maybe kind of what you see as interesting moving forward,

especially as some open-source projects kind of build out additional tooling?

Like BDK.

Yeah.

So our thesis is quite simple.

Like, if you build products on top of Bitcoin and have those Bitcoin apples, like not your

keys, not your coins, self-custody, and also with open-source apples, those are kind of

like a direction that we'll be looking into.

As for the companies that I invested in, they are all, you know, big fans of open-source.

They all have open-source code base, so people can leverage it or even build their own products

on top of those open-source code.

For example, like Unchained Capital's Caravan is a great open-source code for multi-sig

custodies, and, you know, you can simply go to GitHub and fork it.

I think that's just a big part of the open-source community that people can build on those

open-source code, you know, leverage each other, you know, in a free market.

Yeah, I think that's a good point.

Can you talk a little bit about kind of the funding environment for BDK specifically?

I know you all have worked with Spiral.

I think it was a pretty big deal, you know, in the last few weeks when your grant was

announced, a nice piece of validation.

What's it like working with their team?

What's the dynamic there?

BDK is an open-source project.

We get funding from multiple places, so one of our big funders, and they do fund individual

developers, is Spiral.

The process, I think, is quite similar across the Bitcoin ecosystem.

Basically, you come up with a proposal, and then you send it to, like, for example, Spiral

or Brink, and then they look at it, and if it's accepted, they'll basically give you a grant.

It's really that simple, but what helped me was I was contributing to BDK even before the

grant, and then I think that's, like, the proof of work, and they want to get it a bit faster.

Yeah, that's great.

Lewis, you mentioned some open-source stuff that Unchain has rolled out, multi-sig.

What kind of excites you about the custody application moving forward with things that

Unchain's working on, anything additional?

Is there an opportunity for custody solutions out here in Asia that hasn't, you know, kind

of a market that hasn't been tapped as much yet?

Yeah, so I'm a big proponent for self-custody, and especially if you cannot do self-custody,

I will recommend multi-sig custody because, you know, you're not just, you know, control

one keys.

You actually control multiple keys, and you can actually store that keys with multiple

institutions.

So basically, the idea is there's no single point of failure for multi-sig, and I think

that kind of product just has, you know, attractiveness if you want to store large wealth

in Bitcoin without those counterparty risks or, you know, point of failure.

And it's important to understand that if you lose your key, private key, or, you know,

and it's being compromised, you know, you're getting over, right?

So it's important to distribute the private key in various ways.

So I think there are markets in Asia, you know, that advocates for multi-sig custody.

And if you have the ability to do multi-sig, you know, please do that, right?

Do not trust a centralized custodian if you don't have the choice, right?

And, you know, we saw the episode in FTX, you know, all the exchange fell out.

That just gives, you know, that's just a big lesson that we can learn from that, you know,

do your self-custody even more advanced multi-sig as a ride forward.

And I think, you know, it's really important to understand that aspect.

And, you know, do not trust counterparty blindly, you know.

Do trust the Bitcoin code and open source code.

Yeah.

And, you know, you've got your hands dirty in the code every day.

What, I guess, in the process of doing that proof of work before, you know, you get a grant,

you know, what do you think the kind of talent backlog looks like in Bitcoin?

And is there anything that kind of people more on the commercial side, like Lewis,

like some of the media in the space, like us, other kind of more for-profit businesses,

how would you recommend that piece of the industry look at open source development?

Do you think there's enough of a pipeline of funding?

Do you think there is enough kind of outreach and bringing developer talent into the system?

What are your kind of thoughts on the pipeline, the ecosystem right now?

This is a tough question for me.

I'm mostly focused on development and building,

but does seem that there has been more and more funding for Bitcoin development.

Yeah, Lewis, you have any thoughts on that?

I know there are some funds out there that, you know, give a certain percentage of,

you know, fees to open source development.

I know at the Bitcoin conference, we're planning on, you know,

putting a certain amount of profits into the open source development.

How do you think kind of the commercial side of the industry should be thinking about this?

Yeah, I think it's important to fund those open source developments.

So far, Mimesis Capital have not yet funded those open source activities.

Our approach is that when investing in a company that does open source development

and have the ability to fund those open source developers better than, you know, we do.

Like, for example, when we invest in and like just put on chain, for example,

they knew better way to build open source multi-city custody than I do, right?

And so I will leave that to those experts who do that.

Also, like, for example, the block, right?

I think they have tremendous interest in the Bitcoin space

and they know better, like, who is the developer that they wanted to grant the money to.

Like, for example, Avon is being picked by, you know, BDK.

And I think they have that kind of expertise to do that.

So that's just my general thoughts.

And I think, you know, I will lead to the experts

and the company that try to build that stuff to fund those open source developers.

Yeah, makes a lot of sense.

As we, you know, we just heard a really interesting talk about

layer three on Bitcoin, some interesting applications of that.

What kind of being here today, what are you excited about moving forward

in the Bitcoin ecosystem that maybe is a little bit under talked about?

Yeah, so sitting here in the web three festival, there's a lot of thoughts I have, you know, talking to the projects out there in the booth, building different solution with different organization method. And I think ultimately, you know, the things that they are lacking is they don't have a solid foundation to build on. They try to recreate a whole scheme.

And I think you don't have to spend all that time and money to recreate the whole scheme. I mean, the whole scheme is we have the monetary network that's called Bitcoin. And only only thing entrepreneur have to do is create products, create layers on top. So more entrepreneur, more developer can join and build a better solution, better products, better application.

For Bitcoin. And ultimately, I think Bitcoin has a very great head start against all other cryptocurrency or shut coins around there. And let's just not forget about the advantage that Bitcoin has. Right. And building on top really gives you that advantage.

So what I'm looking right now is like Lightning Network, Fadiman's like OBS doing with Fadi are good example that you can build layer two, layer three application on top of Bitcoin. And, you know, you have also have Avon like building open source for the Bitcoin development kits. So all of that is possible, right?

You don't have to create another token or another marketing phrase to justify your project. And ultimately, in the end of the day, people just want to use the products, use Bitcoin to access to various kind of application.

And one of the very good example, I don't know if you guys here knows about it, it's called Nostr. Nostr is kind of like, you know, you know, a decentralized social network that allow Bitcoin to be transact freely peer to peer. So on there is kind of like a Twitter experience.

You have your own data, you control your own public key and private key. And you can use Bitcoin on that, you know, social network as a payment method. And what we do there is you can post something funny or put something very insightful, and people can zap you Bitcoin.

And I think that's a great demonstration of ultimately what Web3 is looking like. Yeah, that's just my observation and my thinking about the future.

Yeah, that's good insight. Any follow up there, Evan?

Not much, but I can talk about what we're working on right now in BDK.

Yeah, so I guess the other form of that question, what are you excited about what's coming next with BDK?

Right. So there has been, I mean, BDK is great in terms of the functionality before. But one of the main issues we ran into is the way we designed, the way we architected BDK before was basically a massive monolith.

So when you wanted to use it, you had to use this whole system. So one of the things we're doing right now is we're splitting up, decoupling it. So for example, coin selection will be its own module. And then BDK chain, which is the in-memory representation of relevant blockchain data is its own structure.

And then for persistence, different types of persistence will be its own separate crates and even separate crates for data sources. So this way, if you want to use BDK, you only need to pick the parts that you need. But also, if you want to have something simpler, you can use the whole thing. Right now it's called BDK wallets.

And then also later this year, we'll have better, it's called a pay join. It's a way of making Bitcoin transactions more private on chain. We'll have greater support for that in BDK coming this year.

Can you talk a little bit more about that last piece? Why you're excited about that? What it means?

So with Bitcoin, instead of an account-based transaction structure, we have UTXOs. So basically, with every transaction, you're spending coins and creating new coins.

And with that process, I guess there's inputs and outputs, and you're just combining multiple inputs and multiple outputs to make it more confusing for people who do chain analysis to figure out who you're sending money to, basically.

Yeah. Privacy on Bitcoin moving forward is something a lot of people are focused on. And there's some promising things happening. Appreciate what the team's doing on that.

The aspect of working with people around the world on the same project. I know you see the team here and there. I think I saw your team in Bangkok at the Bob's base not too long ago.

Do you have any take on the kind of ecosystem here in Asia versus what's in Europe and North America? What's it like working out here with most of your colleagues other places?

So I am quite new to the Bitcoin space. I just only started on Bitcoin development last year. I don't know.

Lewis, what do you think? You've been kind of a stalwart in Bitcoin out of Asia going back and have been kind of one of the people that people in the West kind of look to in terms of what's happening here, what's interesting.

What are kind of the trends you're seeing? Being at something like this in Hong Kong, is it giving you any thoughts on kind of what the opportunity is in Asia, what we need to have a more thriving Bitcoin ecosystem here compared to what's in North America?

Yeah, I think there's a lot to learn from the West, especially learn from those entrepreneurs who have built successful products on Bitcoin, create successful business.

In Asia, I think we just need more entrepreneurs to think about the philosophy of building on top of Bitcoin. It takes tremendous passion and intelligence to create business on top.

There are a couple of Bitcoin companies that I kind of see developing in Asia. And to be frank, there are a lot of good open source developers building on Bitcoin, creating either BDK or LDK.

Some of them are living in Asia. I think Asia has this kind of very talented developer community, and they just have to find a good way to spend their time and create products.

So Bitcoin companies in Asia, I want to try to mention is that there are companies called Nunchuck. It's kind of like building the multi-sig application on mobile phone.

So I've been using that for a lot, but I'm not an investor for food culture. But it's interesting that some guys, maybe like American Vietnamese, are creating that app.

And it doesn't really shy away from building that out of Vietnam or Asia. And you can also see commuting being developed.

I just went to Vietnam Lighting Con. I had a good experience there. Also, you know, Philippine Bitcoin Island with Pudge. Pudge is like a remittance app there. They host the event.

So you can start to see all these applications and companies popping up all over Asia. I think there's a great opportunity.

Awesome. Well, we're running out of time here. Thanks for sharing the insights. Just last thing, what's the one thing you're most bullish about in the next year that BDK is doing?

Everything about BDK.

Alright, there you go. What's the number one thing you're most bullish about in terms of the opportunity to invest in companies building in Asia?

Yeah, I think there will be more companies coming out of Asia that want to build on top of Bitcoin. I'm very looking forward to that and talking to entrepreneurs and maybe invest a little bit.

Alright, awesome. Well, thanks, everyone. We got some good stuff coming up. So thanks, Evan. Thanks, Louis.

Thank you, gentlemen, for sharing your insights on the topic of opportunities for building with Bitcoin. Thank you.

So a friendly reminder for all of you throughout the festival, you may collect stamps from all areas across the exhibition hall. You may refer to the logos page for details and with a complete collection of stamps in one area. You may then proceed to the information desk to redeem a corresponding gift.

So, ladies and gentlemen, moving on, may I invite Mr. Paul Sztorc, founder and CEO of LayerTwo Labs to deliver a keynote on the topic of Drivechain and sidechain vision for Bitcoin. Ladies and gentlemen, please join me in welcoming Mr. Paul Sztorc.

Okay, great. Is this on? Yes. Oh, great. Thank you. Our company wants Bitcoin to do everything. So on the left, we have the world today, many coins, many systems.

And on the right, we have the world of tomorrow, which is only Bitcoin. We will have other blockchains tomorrow and we will have other payment systems tomorrow, but we'll have no other coins. So none of that. Okay, only Bitcoin. That's what Drivechain is about. That's what LayerTwo Labs is about.

So is it really so hard to believe? Because, you know, actually it happens all the time. Standardization is the norm. Network effects are the norm for money. So what we hope for Bitcoin is that it goes from being like an old dorky phone there on the left to being a smartphone on the right that does everything.

Now, I'm going to try to explain this technology in a moment, I promise. But first, let's see here. First, I compiled a list of some nice things that people have said about us or about me.

So here's Adam Back, founder of Blockstream, and Fiat Jaff, creator of Nostr. And then here's some more people. We got CTO of Lightning Labs. We've got Ruben Thompson. We've got Eric Wall. Eric always has nice things to say about me. What a nice guy.

Nick Carter, Ari Paul. Wow, these are great. What a great list this is. Aaron Von Weirdom. Okay, Peter McCormick. Yeah, just one currency to go around and do all these other things. I like that a lot, so that's cool. Well, that's kind of neat, yes.

Guy Swan, sidechains are an inevitable part of the ecosystem for multiple reasons. Yes, that's right. Yes, very good. Okay, I'm going to try to explain how this works, but I'm not going to succeed. But if you really want to know, then visit drivechain.info. But I'm going to give you like a 60-second explanation.

Okay, so here's the regular Bitcoin blockchain in red. And then on top of that, we're going to put something else, like Monero. We're going to call it BitMonero. And so the question is, how does Drivechain do that?

Well, what we do is we compress all of the Layer 2 blockchain activity into one hash. And then we're going to shove that hash into the Coinbase transaction on Layer 1. So that way, Drivechain only needs to access data that it already has on BTC Layer 1.

So what your node sees, the Bitcoin node, what the Bitcoin node sees is this. It just sees the deposits and withdrawals on Layer 1. Now that, of course, skips a lot of details, like how do you know you have the right withdrawal or whatever. But for more information on exactly how this works, you should read BIP300 or you should go to drivechain.info. So that's great. I just wanted to...

Okay. So I just thought I'd show you some screenshots. Here's our software, which is 100% real and it already exists. So a lot of things, like, I don't know, they will build something or whatever. But our software already exists. So here it is. And I put these little filters up here. Okay, here they are. Great.

So you can see that the two sidechains on the left is a clone of Ethereum. So it does everything that Ethereum can do, right down to having no graphical user interface. But we already get the best of both worlds, best of Bitcoin and the best of Ethereum. So we already built that. So this gives you an idea of that.

So please visit drivechain.info if you want to actually learn about what is happening at this company or in this talk. There's no way I can easily explain it in a short amount of time. But you should read everything for yourself and consider it very carefully. But if you go to the site, you see I've got lots of stuff. I have slides, me on a podcast. I have the BIP text. I've got lots of stuff up there. There's an FAQ. There's peer review. It's great. It's a great site.

I can't tell you a little about our team, however. The team has a lot of people on it. But these are the four co-founders. And the three of us here on the left, we have Austin's name gone on there. But we each have over 10 years of experience in Bitcoin. So I think combined we have something like 35 or 36 years of experience.

I myself have been working on this project for about eight years or so, more or less self-funded. I work on quite a few things, but this project has a lot of experience behind it, which I think is something unique at this particular venue.

So the benefits of the technology. Every single stakeholder group, developers, miners, users, savers, or investors, they all benefit enormously from this type of configuration.

So the miners benefit especially because they collect an endlessly growing pile of transaction fees forever in return for doing absolutely zero extra work. So no extra work whatsoever. This will eventually be how miners make all their money, in my opinion.

Investors never need to worry about a rival coin. It's just only one coin. Devs can do whatever they want. So each dev is the CEO of their own private realm. And users get access to every feature of every blockchain. So that's kind of cool. We like that.

Now, goals. What do we hope to achieve with our company? Yes, our company has goals. Specifically. Well, here's some things we would like. We want Bitcoin to have immediate global scale and unbreakable privacy.

We want fees to always be low, near zero. We want miner revenues to grow exponentially forever. We want layer one to never change again. Now, what do I mean by that? That maximizes decentralization, and it ensures that our victory is permanent because we can no longer accidentally change the system that we have created and accidentally break it.

We want devs to be able to make cool stuff. We don't want them to have to go and do some kind of campaign where they have to convince people that what they're doing is important. Trust me, you don't want that. So we want them to just be able to make creative freedom for devs.

And we want an end to scamming and scam coins, because there's only one coin. And we want the whole Bitcoin community to be united. No more toxicity, no more people being mean to each other on Twitter. We want everyone to be all united against our common enemy, which is, of course, the banks.

And we want all of this with zero risk to Bitcoin. We want everything to be opt-in and reversible so that there's really no chance of anything going off the rails.

There's another thing that we want. We do want our investors to make a ton of money, because of course we do. So there we go. To that point, we have this. It's actually the second-to-last slide, but it's a good slide.

This project started a long time ago with a blog post I wrote in November 2015. And a couple more things happened after that. We made some sidechains. We have quite a few now. But in September of last year, we raised money to start this company. We have a business model and everything.

What we are going to do very soon, like immediately, more or less, the second and final round of fundraising is going to begin. So if you would like to know about the business model of our company, then you can come up and talk to me if you like.

Thank you very much. You should really visit our site LayerTwoLabs.com or drivechain.info if you want to learn more about the technology or the company. A lot of it is changing every day, so the best thing is to come up to me and talk to me personally.

Okay, great. And of course, I'm on Twitter and Telegram. Okay, so thanks very much.

Thank you. Thank you, Paul, for your insights. Round of applause, please.

I am Amanda Chang.

We have a small coordinate for our organization.

I'm going to walk soon, and then we will talk about some of the challenges with the

pandemic around human rights for everyone to be safe and be sure to take care of

yourselves.

You can listen to simultaneous interpretation through your mobile phone.

You're also advised to bring your own headphone in advance.

So now, ladies and gentlemen, we now have a roundtable forum with the following guests.

And please allow me to introduce our following guests first.

They are Mr. Pan Zhixiong, founder of Chain Feeds, Mr. Yu Mingcha, co-founder and CTO

of Babylon, Jack Three of Matrix Labs, and Mr. Jeffrey Hu, technical director of Hashi

Capital.

And today we'll have Jeffrey to be the moderator of the following session.

So ladies and gentlemen, please join me in giving a round of applause to our speakers

in the following session.

Round of applause, please.

Welcome, gentlemen.

So in the following time, I'll pass the floor to our moderator, Jeffrey.

We're one of the main events.

We are one of the biggest crypto VCs.

We have more than 200 portfolios and we have more than $1 billion in AOM.

Today's topic is Bitcoin's new technology.

We know that there are a lot of new Bitcoin hot points, so we're very happy to introduce

them to all our guests today.

Our guests at the roundtable will be the founders of Chain Feeds, Mr. Pan Zhixiong,

the founder of Babylon, Mr. Yu Mingchao, and the CEO of Matrix Lab, Mr. Jack.

First of all, let's take about two minutes to introduce ourselves

and introduce some of the projects we are working on.

Hello, everyone. My name is Pan Zhixiong.

We are working on the information gathering platform for Web3 and crypto trading called Chain Feeds.

Today's topic is mainly about Bitcoin, right?

So I actually had my first Bitcoin wallet in 2011.

And at that time, more communities were able to get some BTC through the water faucet.

It's not possible now, right?

Once you get 0.01 or less of this level.

Yes, and then in 2017 and after that,

I was actually very concerned about some of the development of Bitcoin's entire technology.

So last year and the year before last,

we have been studying some of the things related to Taproot or Lightning Network.

So we are also very concerned about the technology of Bitcoin's front end

and some of the development of our products in the future.

Thank you.

Hello, everyone.

My name is Yu Mingchao.

I am the co-founder and CTO of Babylon.

Our Babylon is a project based on Bitcoin infrastructure.

Our vision is to make Bitcoin the cornerstone of decentralization.

Bring Bitcoin's security to the entire decentralization world.

Let all the applications and chains in the entire decentralization world

become the second layer of Bitcoin's expansion.

Thank you.

Great, great.

Hello, everyone.

I am Jack 3, Jack 3.0.

I am the CEO of MatrixLab.

Our project is called Bore Network.

In Chinese, it means Bore Gate.

That is the origin of our name.

Our main goal is to solve a centralized problem in the entire industry.

We have been exploring for four years since 2019.

We have spent our own money to study this matter.

The paper was published on HBOE.

My background is that I joined the industry in 2017 and 2018.

I have been in the open source community for ten years.

I have been in the open source community for ten years.

In 2017 and 2018, I was the first to launch Dariu.com in China.

I was the first to launch Dariu.com in China.

That is my background.

That is my background.

That is my background.

Thank you.

Thank you.

Thank you, ladies and gentlemen.

Let's start with the first question.

You may have noticed some popular applications on Bitcoin.

For example, Audinos.

I think Audinos is controversial.

There are some different discussions in the Bitcoin community.

I think Audinos is a data storage application on Bitcoin.

Some people think it is a new attempt.

Some community members think it is an application on Bitcoin.

It may take over the original resources and affect other applications.

I don't know if you think this kind of application like Audinos

I don't know if you think this kind of application like Audinos

is a temporary talk line application.

It may reflect a certain trend of using Bitcoin blockchain storage space in the future.

Why don't we start with Mr. Pan?

Okay.

If you are not familiar with Audinos and Inscription,

Audinos and Inscription can be implemented this year or last year.

In fact, it is also because of the two soft splits of Bitcoin.

One is the quarantine certificate in 2016.

The quarantine certificate is a new pricing model.

Let Bitcoin's softness expand four times.

But you can't make use of the four-fold expansion space.

But in the previous year's Taproot upgrade,

the developer added a new way in the upgrade.

The space of the script was originally a limited size.

It has become a limitless size.

So let the inscription plan be added well.

It can be stored at a lower cost on the Bitcoin network.

If the two soft splits are not done,

it is unlikely that a product like Audinos will appear.

First, there is not enough space.

Second, the cost may be higher.

But the current scenario is a new discussion on Bitcoin space and resource pricing.

I think this is a big negative.

The biggest negative is that it affects Bitcoin's fungibility.

Every Bitcoin has a number.

Every Satoshi can put numbers and data.

Then their value may be different.

This is actually contrary to the original intention of Bitcoin and the core of Bitcoin Core.

I think this is the biggest negative.

The second negative is that Bitcoin's on-chain space is very precious.

It has changed from transaction data to data for storing meals.

It has changed from transaction data to images.

It may be meaningless.

I think this kind of attack on the Bitcoin network should be encouraged in the long run.

I think it can be referred to as the gas token before Ethereum.

In the early days, Ethereum set a logic in its virtual machine.

When you destroy an account, you can get some compensation.

Everyone uses this mechanism to drill holes.

When the gas is low, it creates a large number of gas tokens.

When the gas is high, it takes up space again to get some discounts.

But it doesn't really expand.

It didn't solve the fundamental problem.

As the Ethereum upgrade followed, it slowly fixed the problem.

But the repair of this matter is also because everyone can make full use of this matter.

Enlarge it and then put it in the community for a large number of discussions.

It is possible to make these adjustments to the community or this agreement to make some changes.

Although the network and agreement of Bitcoin are not as easy to upgrade as Ethereum.

Or it is to block or remove this restriction.

But I think the community should discuss some better ways.

Even the resources on the chain will be placed in the future.

It may be transferred to some more valuable things.

Not just some traditional or simple pictures or meaningless words.

I think it is very likely to be such a development path.

Thank you for your wonderful speech.

I learned a lot.

For me, I agree with this book.

This is a very interesting attempt.

I think Audino is a revolutionary gunshot and a star fire.

After the surge of Ethereum in Ethereum,

I suddenly thought about it.

We actually have a chain that is safer and more valuable than Ethereum.

It's called Bitcoin.

I think Audino's application of the Bitcoin blockchain space is still relatively pale.

You put this encryption or this picture NFT in it.

Then it can no longer produce more value.

Just put it in, right?

Then we hope that the Bitcoin blockchain space

can become the most precious in the decentralized world.

It is such a storage space.

For example, what can we do with the space of Bitcoin?

It is a popular term called data availability.

But the space of Bitcoin does not allow you to do the so-called normal data availability.

Put all the data on this other chain.

But the space of Bitcoin can be used to provide the strongest anti-monitoring.

If your transaction or data on the other chain is monitored by the validator,

if it is blocked by the sensor,

you can put your transaction on Bitcoin as your last protection measure.

In this way, Bitcoin is equivalent to the Supreme Court.

Or a concept like Weibo exposure

becomes the final security guarantee of the decentralized world.

I think it makes a lot of sense for the decentralized world

to use Bitcoin's blockchain space in this direction.

Because Bitcoin's anti-monitoring is the best in our entire ecosystem.

Thank you.

Yes.

I have been in the open source community for 10 years.

I actually encourage all innovations in the ecosystem of Bitcoin.

Everyone can try it.

Audino's innovation in space storage,

I think we should do it first and then talk about it.

If it can cause some difficulties or challenges for Bitcoin,

the community will solve it.

As you know,

from my point of view,

there are thousands of individual developers behind Bitcoin,

including top cryptographers from various universities around the world,

who are solving this problem.

I think we should do it first and then talk about it.

If there is a problem that day,

there will be a corresponding solution to solve it.

This is my simple opinion.

Because I have not written code for many years.

I have been engaged in the open source community.

I don't know much about the details.

Then I came to learn from Mr. Fitch.

Thank you for your wonderful sharing.

Let's move on to the second question.

As Jack said just now,

we have a lot of technological innovations happening in the open source community.

In fact, we know that Ethereum should be discussed.

The most talked-about topic now is probably ROV,

which is the technology of modularity and scalability.

Now there are some technologies that are being tried on the Bitcoin network.

For example, there was a report last year

about how to implement a ZKROV on the Bitcoin network.

Recently, some projects have made it more detailed.

The ZKROV design that can be implemented on the ground

may have been written in more detail.

I don't know what you think.

The second is on the Bitcoin network.

There may also be a SELESTER.

It also made a technology called ROVKIT.

It can be used to demonstrate a demo.

It can be used on the Bitcoin network.

It can be used as a layer of data scalability in the Bitcoin blockchain space.

I don't know how you feel about the future of Bitcoin.

To build on this network,

such as ROV,

such as modular technology.

I don't know what the possibilities of development will be in the future.

And what do you think of this technology?

Why don't we start with Jack?

OK, thank you.

First of all, I think this problem is actually very much

based on Ethereum as the core of the Bitcoin ecosystem.

Right?

Only people in the Ethereum community

may look at this problem this way.

Because it is indeed a possibility

under the broad topic of the current Web3 circle.

But when we talk about DA,

it is actually a lot of people

will put it and the data layer and the data data

to be able to obtain this thing.

There are some minor differences.

So this data layer is not a data layer.

Right?

We are in the background of this Ethereum.

The DA we are talking about is more of a user.

He actually doesn't really know how to get this data.

Right?

The full node of Ethereum is not necessary.

Or some ordinary nodes

don't need to get this data.

But the solution of the DA layer

provides me with a possibility that

I can use a very small amount of data to verify

whether you have this data in the end.

And can I get this data in the future?

This is the DA layer or the DA solution

to solve the problem.

So like this, this Bitcoin, this, this,

if we stand here,

first of all, we stand in the Celestia

and Ethereum ecosystem.

Celestia's DA and Ethereum's DA

must have undergone long-term evolution

and professional design

to be able to come up with such a solution.

Celestia is a DA designed from scratch.

Right?

It is a protocol that was born for DA.

So its performance

or its DA design

must be relatively advanced.

Because it doesn't have these burdens.

Ethereum, although it has a burden,

but in the future of 4844

and the solution of Dank Sharding,

it will also consider some features

and design some drafts,

sampling, and some DAS solutions

to make the overall DA efficiency higher.

But the Bitcoin network is not

so easy to add these things.

So the DA on Bitcoin

is more of us saying

that we can only store this data.

We store these data on it.

We must be better than Ethereum

in that anti-monitoring.

Because it has enough nodes, right?

It also has a lot of users.

There is no doubt about this.

But if we think about

what the DA on Bitcoin can do,

I think we still have to

throw away the idea of ​​Ethereum.

Because Ethereum is for application.

Right?

If Bitcoin wants to do this DA

and make anti-monitoring better,

I think it is also possible that

it will be more layered in the future.

More important things

or you really need to

go to Bitcoin to save things.

Then you can put it on the DA on Bitcoin.

But other anti-application values are relatively low.

Will it be possible to

return to Ethereum?

It is also possible.

After all, the Bitcoin block space

of Ethereum is limited.

Right?

It's 1M to 4M.

If you really want to expand,

the ecosystem of Bitcoin will not agree.

Right?

We are not born to do applications.

Right?

So I think it is very likely

to be in this state.

Thank you for Mr. Pang's speech.

I agree with you very much.

I even wanted to pat you just now.

We are thinking about

how to make Bitcoin expand.

We don't necessarily need to

think about it with the idea of ​​Ethereum.

Don't follow the idea of ​​Metallic.

Ethereum is Layer 1.

Then I have Layer 2.

Then Layer 3.

Then Roll Up.

Then Data Availability.

Right?

This idea is applicable to Ethereum.

But for Bitcoin,

it may not be applicable.

Then we can briefly review

what the essence of Layer 2 is

in Ethereum.

It is through, for example,

Optimistic Roll Up

to push the execution of this transaction

to the chain.

Then, through DA Layer,

the data is also pushed to the chain.

Then, for example,

through some Coinbase's

Base Superchain,

to make it interoperable

between Layer 2.

So what is the only thing

it can't push out?

It's its security.

It can't push it out.

So, in essence,

Ethereum,

through Layer 2,

it has to do one thing,

which is to push everything out.

Then it provides security

for all these things

that it pushes out.

So this is its essence.

It's just that the technical solution it chooses

is realized through

the concept of layering.

So if we want to scale Bitcoin,

we have to grasp this essence,

the first principle,

instead of following

the concept of layering.

So we say

the essence of scaling Bitcoin

is to let Bitcoin

bring its own security

to other applications

or POS chains.

Right?

This is better.

Then it also brings an advantage here,

which is that we don't need

Ethereum

to build its own ecosystem step by step.

If Bitcoin has a way

to directly bring its own security

to other existing POS chains,

then we can directly form

a big ecosystem

with Bitcoin

as a security core

or a security module,

and wrap all the other

non-Ethereum POS chain ecosystems

into it.

Right.

I think this way

is to let Bitcoin

take a detour

and merge with the ecosystem

of Ethereum

and even

be better than it.

Yes.

I quite agree with

Mr. Fisher's point.

In fact,

the entire crypto industry today

is very much like a country.

Every POS chain

is an ecosystem.

Right?

Every family has its own

hard-to-read scriptures.

From the Ethereum ecosystem

to today,

right?

What exactly is the state

of the Ethereum ecosystem?

We all know that.

Then,

the Ethereum ecosystem

is indeed a very good hot spot.

There is also some room for speculation.

But it is indeed

like what Mr. Pan said

in his first point,

right?

From the perspective of Ethereum,

to look at this,

this,

Bitcoin.

Personally,

I actually prefer

this kind of strategy

to solve

the direction of the entire

Bitcoin expansion.

Yes.

Then,

we will also see some opportunities.

Just now,

the last guest,

Paul's speech,

the so-called BIP300/301,

some of these proposals,

are not necessarily

a possibility,

right?

This,

my personal feeling

may be

iPhone,

no,

Bitcoin 2.0

or Bitcoin iPhone Moment,

right?

Because Paul wrote

an article before,

that is,

the network security

of Bitcoin.

If the reward of mining

gradually returns to zero,

it is not enough

to support

its mining costs,

is the entire network

safe?

Is the entire

industry safe?

Yes.

So,

he is actively

pushing this,

this,

this,

yes,

the direction of

Drivechain,

etc.

I am also quite optimistic about this.

Yes.

This,

this,

this layer zero level of

our own concept

called layer base

Yes.

Because

our view today

believes that

the entire industry

is still

a very early stage.

Just 14 years.

Yes.

From 300 million

to more than 100 thousand

shrinking the entire

industry,

more chain needs

more possibilities.

Of course,

this Bitcoin

side has a vote.

I call it conservative

myself.

Would you

like to

this change

and let it

this right

SDV

SDV

this is OK.

But I think

right

just like

this Bitcoin

is a 10-year-old

child

14-year-old

child

you are willing to

let him

drink pure water

every day

hide in the

greenhouse

or

let him

go to society

to try more

possibilities

right

so

my

one view

is

reformist

this

various

attempts

and

many people

may have

forgotten

a fact

what is the

blockchain

blockchain

is first

an open source

software

open source

software

means

what

is to

tolerate

various

attempts

to try

right

and then

in case

run out

right

this is

your

child

right

and

so

you

secure

linear

security

and

free

internet

you

are

ready

and

you

don't

care

right

and

as

for

majority

people

media

or

of

the

dramatic

sense

but

what

you

care

about

what

you

can

do

is

something

that

you

don't

need

and

so

as

so

right

now

I

don't

know

what

you

care

about

what

you

can

do

is

something

that

you

don't

need

and

so

right

now

I

don't

know

what

you

care

about

what

you

can

do

is

something

that

you

don't

need

and

so

right

now

I

don't

know

what

you

care

about

what

you

can

do

is

something

that

you

don't

need

and

so

right

now

I

don't

know

what

you

care

about

what

you

can

do

is

something

that

you

don't

need

and

so

right

now

这个基建的时候应该需要什么样的一个跨链桥对所以这个是我们这四年的探讨四五十号人这个极客为了梦想对然后探探索对所以说我们觉得这个这个今年是很关键的这样一个一年然后在这个周期里边可能迎来了bitcoin的iphone moment会有更多的应用出来

会迎来整个行业的http的moment对因为今天的流动性中心化的桥中心化的交易所垄断了流动性对核心的因为整个行业的本质私钥的管理

私钥1.0就像小狐狸ok对吧一整片私钥助纪词那私钥2.0可以分片了

基因发生了变化整个行业的会面发生变化对所以说我们觉得布尔是整个行业的web3的swift或者web3的http

把行业能够带下下一个时代就像互联网刚开始的时候或者是

iphone出来的时候那个对于这种我们自己观点叫全面资产的创造

然后全面应用的创造那它的一个实现任意链之间任意消息的跨就非常的关键

够不够优雅一切才刚刚开始整个行业才14年对我就啰嗦这么多不好意思

那我来讲一讲我对比特币跨链的一些理解吧

我在我看来比特币跨链最安全的方式就是不要跨链

就是为什么我们说要做比特币跨链我们的目的是什么跨链它并不是一个目标

它是一个手段我们跨链的目标是让比特币在被挖出来之后能产生更多的价值

能产生更多的utility对吧那么现在最流行的方式是一个叫做跨链桥的这种方式

让它产生把比特币跨到其他的链上然后去做事情然后产生收益这是一个方向

另外一个方向是把比特币交给一个中心化的交易所去做lending service

去产生利息的收益那么这两个方式其实都不安全

你要么你要相信一个中心化的交易所

你要么你要相信这个跨链桥的所有者

所以说它并不是一个很安全的让比特币能产生额外价值的方式

那么我们跟很多的比特币社区的stakeholder有聊过

他们对于比特币的增值的需求是我大概说我们大概有5%的收益就可以了

但是我们要求它安全只要它能安全

那么他们就愿意去把比特币拿出去对对对安全是重中之重

但是你只要把比特币跨到另外一条链上

就刚才就跟潘老师讲的你一定因为网络的安全性的不对等性

就会一定会有产生攻击矩阵的可能性

所以说我在我们Bobby这个团队看来

能真正的让比特币能在其他的生态里面发挥作用的方式

绝对是让它不要跨链也可以让它发挥作用的这样一个方式

所以这也是我们团队在集中我们的经历正在研发的这样一个方向

对好谢谢谢谢各位嘉宾

对其实刚才说到跨链那么其实跨链的一个基本原动力

也是因为想要把比特币比如到其跨到其他网络上面产生一定的

比如说放到其他应用里面比如说借贷或者其他交易的这种应用里面去做更多的尝试

那么实际上最近也有一个概念比较火叫BTC FI

其实也是借了一个这种define的

我自己感觉也是借了一个define的这种一个概念

那么包括现在其实也有一些比特币上更多的基础设施的出现

可能也会能去很好支撑比特币在可能在不跨链的情况下

进行这种类似于链上金融应用的一些尝试

像比如说RGB Taro或者像DLC这种各种各样的协议其实也在诞生

那我不知道各位嘉宾怎么看这类在比特币上叫所谓BTC FI的这类应用及基础设施

以及不知道未来是否会随着这些基础设施的诞生

可能我们是否会迎来一个BTC的define summer

我们只有再用一点点时间我们再进行一些这方面探讨

要不还是潘老师开始

对就是这个首先啊

我觉得这个问题也是因为以太坊生态最开始把define做的非常大

所以大家就开始关注对吧

BTC是不是也可以这个在define这边可以投入更多

或者是能变成一个define为导向的

但这件事情呢其实比特币本身也因为它的诞生也是因为在2008年之后

对吧也是因为大家这个匿名的创始人

对于这个现有金融体系的这个排斥才做的这个BTC的这个协议

但是呢它和以太坊还是存在着非常大的

整个无论从社区还是这个生态或者是整体的一个mindset

或者是这个思维模式的不同的

那BTC的这个网络大家更关注的安全性

其实是放在一个优先级非常高的一个位置的

所以其实BTC的硬分叉已经很多年

好很多年没有过硬分叉了就软分叉升级

那以太坊呢还是在一年一到两次的硬分叉升级的频率对吧

就在那个昨天早上今天早上

那个对吧就就就就开放了那个那个那个也是也是这个这个一次硬分叉吧

对吧那能提款

所以说这个上海升级对吧

上海升级对吧

所以说这个

呃这两个这个这个这个社区的不同就会带来比特币生态

如果说你要做这个和金融方向的事情

他一定是非常谨慎的

因为协议层他第一他不怎么变动

第二他他他他他的这个扩容的这个效果也相对比较限制

所以说我会觉得如果比特币的这个金融方向

他能能发展的更好的话

一个大前提就是

应该要先把闪电网络或者是支付这么这么一个大大大赛道能很好的掌握

因为你看以太坊的这个低范

我们除了这个这个这个投机的需求之外

其实最大的真的能出圈的或者是非常泛用的需求

就是跨国的结算或者是美元的这个结算

很多人都会用USDT USDC啊对吧

做一些跨境的结算啊什么的

这是一个非常天然的需求

那BTC的话对于小额支付或者是这个这个的闪电网络

对于这些小额支付的支持

如果说能加上Tarot或者是更多稳定类的资产

更大家接受度更广的这个资产

我觉得这个也是一个非常好的切入金融的机会

那你把大这种小规模支付做完之后

那其他的这个这个需要大量的程序或者是安全性有限制的

我觉得可能要交给未来的

在Tarot的升级之后的这个这个更多开发者的

慢慢的最底层的这些调整

才可能这个产生一些和金融相关的应用

那他一定是一个非常时间比较跨度比较长的一个事情

他不太可能在短短时间内实现

对

OK呃在我看来呢

Bitcoin fight是一个非常好的一个概念

但是他要迎来他的爆发

我觉得有有两个点需要做到

第一个点就是在技术方面

需要做到能让Bitcoin在非常安全的情况下

能把它的价值呃流到这个POS的生态里面去

例如通过比如说叫做BTC Staking

比特币质押的这个方式

在呃保证安全的情况下

让他成为这个其他POSchain的这个安全性的保障

或者我们说比特币

它是一个Digital Gold

它是黄金

它可以成为其他POSchain

或者相当于其他国家的这个储备金

黄金储备或者甚至美元储备

那么这个怎么样安全的

并且在技术上能实现这个事情

是Bitcoin fight成功的一个关键点

那么另外一个关键点呢

是这个经济模型的一个设计

因为呃你当你Bitcoin的这个市值

是远远大于任何其他的这个生态的

那么一旦Bitcoin作为黄金或者是美国国债

这样一种形式存在于其他国家的这个

这个这个黄金储备

这个储备过程中对他本身的这个货币的价值

对他本身这个生态会带来什么样的影响

这个是一个非常值得探讨的一个开放性的问题

如果这个问题呃不解决好的话

那么即便技术上我们能实现呃

这个比特币的这个安全性和这个比特币的这个

币本身的这个这个价值的流通

那么如果经济模型做的不好的话

那这个事情可能可能可能危险性还是会很高

所以说呃我们非常的欢迎呃

大家来一起来探讨这个问题

来让比特币能真正的成为去中心化世界的一个基石

OK啊

BTC FI这样一种叫法

我觉得蛮蛮内商的

包括其实整个行业就是ETH FI

Solana FI BNB FI

我重复一下刚刚的一个观点

整个行业今天还在单机时代

行业还没有很能够很去中心化的

把这个网线各条链之间这个网网线网口给插起来

谈上面的应用

今天热热闹闹的对吧

这个各种会场包括丹佛

上面谈各种应用

都是单机应用啊

和我们早期玩的这个单机弹吃弹吃蛇啊

扑克牌啊这个一样的道理

他的资产呢才整个行业才1万亿

然后那另外但是我充满期待

这个是现状充满期待

如果要谈BTC FI很关键的

一插上网线而且网线足够安全

能够因为它涉及到资产的这个流动

二得消息的流动

那对于整个行业来讲

也不仅仅只是比特币这个生态

那还有其他链呢对吧

怎么样能够让消息让资产

FT和NFT这么最简单的资产

能够以最去中心化的方式

然后最低成本的一种方式

最安全的一种方式

去自由流动

这个是整个行业的很大的一个挑战

今天很嗨这么多

但我觉得咱们还在单机时代

这个从基建层面我连接

那从流动性来讲

对吧CX们整个把行业流动性都垄断了

号称整个行业的正统性

或者是KOL对吧

怎么干这件事怎么干对吧

这个被中心化的对吧

这个一个号称去中心化的这么行业啊

对这是我的第二点观点

要拿回连接的去中心化的这样一个权利

要拿回我们整个Crypto社区的流动性

以去中心化的一种方式

对这是第二点

那第三点最后简单五秒钟说一下

确实要实现Betaflight生态的繁荣

安全是第一件

跨链是很刚需的

我们布尔网络已经实现了

测试网在一个月内会上来

因为我们打磨了四年

我们没有怎么发生过

这个是很公开的第一次讲

然后大家支持一个华人干协议层的这么一个项目

去年聊了近100家VC

号称投他妈的infra

但他妈的这个华人干不了infra

14年他妈的干不了infra

抱歉啊有点失态不好意思

好的好的谢谢各位嘉宾的精彩分享

那我们今天圆桌时间也到此结束

谢谢各位观众的聆听

谢谢谢谢谢谢台上嘉宾的精彩分享

谢谢

那提提大家活动呢

会提供同胜传译的服务

你只要扫描会看手册的二维码

就可以通过手机就收听那个同传的

Leo CEO of Antpoo to deliver a keynote on bitcoin mining

Ladies and gentlemen let's give a warm welcome to Leon

好大家下午好我是Antpoo的CEO李磊

今天很高兴能有这个机会

给大家一起交流一下比特币挖矿方面的一些想法

那我是2013年这个创办了行业第一个数字货币挖矿线上社区

那到今年10年了

在这个比特币算力一直屡创新高

那在这样的环境下比特币挖矿现在是怎么样的形式呢

这是我今天演讲的主题

那首先呢我想和大家用一个短暂的时间

回顾一下比特币挖矿的一个基本原理

那讲到比特币挖矿我觉得有三个时间非常重要

大家记住这三个时间对比特币挖矿也就也就明白了

挖矿是通过计算将内存池中未确认的交易

确认为区块链上的区块的过程

简单一点说就是做数学题

挖矿设备在做数学题猜中了就获得区块奖励

那这里面有三个时间很关键

第一个是十分钟就目前来说

这个他的这个协议设定比特币的协议设定

每十分钟大约十分钟啊全球产生一个区块

那就整个比特币网络呃全世界的比特币网络

这一张网络每十分钟产生一个区块

这也就是矿工获得挖矿收入的主要来源

这个区块产生的时候就会有区块奖励

给到比特币矿工

第二个时间是14天

那比特币网络为了保持他这个大爷

每个区块都保持大约十分钟这样均衡的产出呢

他会自动调整挖矿难度

他会在每两千零一十六个区块的以后调整难度

那这个区块的间隔时间大约就是14天

那第三个时间就是四年

比特币的区块产出每四年减半一次

那实际上对于这个比特币区块产出减半这个性质来说

对比特币的整个经济模型是影响非常重要的

那下面我们就回顾一下比特币减半的一个过程

大家都知道比特币在2009年的时候

其实大家很少人接受很少人接受他

那他价值多少钱呢

有个披萨饼的故事

大家都知道用一万个比特币换了一个披萨饼

那到2012年比特币发生了第一次减半

区块产出有50个比特币减少为85枚比特币每个区块

那那次产那次减半的时候比特币价格大概是10美元每枚

那第二次减半发生在20发生在2016年

第三次减半发生在2020年

那到2020年的时候呢

比特币每枚的价格呃但是已经到9000美元每枚左右

那实际上对于比特币挖矿的矿工来说

你每次区块减半的时候就意味着比特币的币本位的收入是减半的

但实际上为什么算力还屡串新高一直往上涨呢

大家可以看到实际上法币本位的挖矿的收入的增长远远超过了比特币减半的这个减少

那按目前这个速度大概这个区块第四次减半

第四次减半大概会发生在明年的四月份

那到那个时候比特币价格会是多少呢

我这里写了五个这个符号那就是五位数的比特币

当然我们也希望到时候能够看到六位数的六位数美元每枚的比特币啊

好这是我们简单回顾了一下比特币挖矿的一个原理

那随着这个这个这个比特币挖矿这个算力上涨呢

我们再来回顾一下整个比特币网络这个算力上涨的一个过程

同时我们再回顾一下比特币挖矿设备是怎么发展演进的

那在2019年刚刚比特币诞生的时候

大家都知道那就是家里面的电脑挖矿CPU挖矿

那时候知道比特币的人还非常少

那时候如果你在家里面用一个电脑挖矿

一天是可以挖上百枚比特币的啊

大家可以想象一下那样的日子应该是很美好的

那后来大家就用GPU挖矿

因为GPU它的计算性能更多的是计算重复计算

所以大家可能都看到过网上的图片

四张显卡插在一个插在一个架子上

然后来挖矿那个性能又比CPU高很多

实际上现在曾经的很多币圈的大佬都做过显卡挖矿

比如说用一个集装箱里面布满了显卡

大家可以想象一下在11年的时候

一个集装箱的显卡每天可以挖多少比特币

换算成现在的法币单位那是非常惊人的

那挖矿设备经过GPU又到了FPGA可编程逻辑阵列

它是什么东西呢就是一种半可编程的芯片

它的性能又比GPU高

但FPGA的存在的时间很短

很快就过渡到了ASIC就是定制芯片

但这里我想说一个还是中国人自得自豪的地方

全球第一台ASIC的定制芯片的矿机是中国人做

他是阿瓦隆的创始人张南根

那个时候他做这个全球第一台矿机的时候

在bitcointalk.com上面卖75个比特币一台

大家可以换算一下75个比特币一台的矿机多少钱

不可想象但实际上那个时候是大家也是蜂拥而至

彻夜排队的来购买这个矿机

那时候的矿机到手的时候大概是

我印象里面大概是在13年的时候

七天回本吧七天回本以后每天都在印都在印钞

那是就是在13年左右130纳米阶段

那当时还有一个天才少年叫烤猫

可能在座的很多人已经不记得了

那时候13年左右挖矿是中国的中国时代

有两个非常突出的典型玩家

烤猫烤猫当时在一个矿池上的页面

有一个算力的展示

他的那个实时算力展示

他一个人的算力占了全网百分之三十几

大家可以计算一下一个人的个人算力占全网百分之三十几

每天可以获得多少比特币

那那个真是谈赢啊那真是税后税后财产啊

但是阿瓦罗和烤猫的这个时代很快也没有持续很长时间

就到了第二个时代是一个以色列公司叫比特富

他们做了一个矿矿技以后

性能也是很快比阿瓦罗和烤猫提升很多

他们的那个平台很快算力一度超过了比特币全网百分之五十

大概在14年15年左右

呃不在哦在14年哦错了错了

在13年左右13年下半年年底的时候

他们的网页非常简单

我特别记得他们占了全网这么大的算力

他们简单的网页上还写这句话

我们只是随便玩玩啊非常的反而赛啊

那就是第二个初始的阶段

那到第三个阶段我们就知道

我特别记得在2013年11月11号

啊但是我办的一个网站发表了一篇文章叫中国的比特富也来了

他是谁呢就是比特大陆

就是比特大陆

大家知道到后面到目前为止

比特大陆的矿机已经是市场的份额的绝对领先

那这可以看成asic矿机时代的比特大陆时代开始了啊

一直持续到现在到现在2022年

asic芯片已经到五纳米级别啊

刚刚我们回顾了这个整个矿机芯片纳米制成的一个过程

然后我们再来看这个算力曲线

可以看到在asic初期算力增长没有那么快

但是纳米数的制成的提升速度很快

因为130纳米到20纳米以下的提升提升是比较方便的

但到20纳米以下

他的迭代速度会会比较减缓

但是单台算力矿机的算力增会增大

所以算力增长就会更陡峭

那讲到这个asic矿机

我们再看一下asic矿机的这个发展历程

我们以bitman的antminer就蚂蚁矿机为例

从2013年的第一代se到现在最新的s19xphydro

已经19代的发展

那他从功耗来说

我们可以看到这个se的180G每台的算力

发展到现在s19xp255T每台的算力

这个单机算力差不多增长了1400倍

也就是约三个数量值

然后单位能效比大概下降了90倍

那在这个过程当中大家可以看到这个矿机的演进

就是单台矿机算力越来越高

单位功耗越来越低

但在这个曲线图里面

我特别想强调一个大家可以看到这张图的右下部分

就是单位功耗的下降幅度在s9那个交叉点以后

大家可以看到功耗比的下降幅度明显减缓

这就是为纳米制程进入了更低的纳米制程以后

矿机的这个技术迭代会相对减缓

那这个图线还会得出一个什么结论

就在这样的情况下

低纳米制程的矿机的寿命会比以往任何时候都长

那就是我们看到矿机的一个迭代发展的一个过程

那讲完矿机我们再看看算力

现在全球算力是怎么分布的呢

因为我13年就参与这个行业

那时候还是在国内

大家知道因为政策的关系算力发生了大转移

那据统计现在应该是美国的算力应该超过了50%

我指的美国算力不是指美国人拥有的算力

而是这些矿机部署在美国国土以内

他这样的算力应该是超过了50%

那美国的算力是怎么构成的呢

美国的挖矿和其他地区的挖矿有最大的不同

他都是由这个挖矿上市公司来主导的

他们已经非常的成熟

就传统的商业这种金融玩法结合的非常深

他们有据这个他们公开资料统计的话

他们现在北美上市公司矿企合计市值约50亿美元

他们公开的算力合计算力大概71亿

这是公开的数据

实际上北美算力我们认为应该超过130亿

还有一部分是没有公开的

那在这些是

右下的我的著算图就是列了北美的约10家

北美的主要的上市公司

这里面有算力最多的应该是Core Scientific

我去过他的矿产

大家可能觉得以前建矿产挖矿是中国人比较专业

但我去了美国的矿产

有一个现象我真的被我震惊到了

真的给我的一个很大的震惊

他们的矿产非常干净

你知道只有一个

而且货架上都几乎没有尘土

没有灰尘

你知道要把一个矿产数万台的矿机的矿产管理的这么精细

那一定是要投入很大的精力的

然后算力最高的是Realtor

Realtor这家上市公司的矿产我也去过

他拥有目前全球单体矿产负荷最大的产地

但是我去的时候应该他这个矿产的负荷在70万千瓦

7栋厂房每栋厂房10万千瓦

就在一个地方

那旁边紧接着就是变电站

那这样的类型的美北美挖矿上市公司

构成了北美算力的主体

在跟他们的CEO或者他们的这些高管沟通当中

我发现北美挖矿企业他有个很大的特点

和以往的这个行业里面的玩家不太一样

他们对矿产的建设质量比较高

包括打地基啊

包括钢材的选购啊质量都比较高

另外一个他们矿产的建设周期很长

这个我想说一下

你去如果去到北美

和他们负责矿产的建设的同事聊天就知道了

美国人在工作的时候真的需要休假

而且他们在休假的时候你是真的联系不到他们

所以他们这个过程是

他们矿产的建设周期确实是很长

大概都要按年为单位来这个计算

另外一个他们这个非常勇于探索液冷技术

就是我们目前看到的挖矿的液冷都是

比特大陆的矿机它是水冷

本身具备这个液冷的能力

但是北美上市公司他们研究的液冷矿产

是用不导电的液体放到一个液体槽里面

把整个矿机全部浸没在这个不导电的液体槽里面

然后这个液体把热量带走以后循环出去

冷却后再循环回来

他们非常对这个技术非常这个热衷

这是北美矿企的一些情况

那第二个部分我们再回到这个比特网络

此时此刻此时此刻这个信息

可以在我们Npool的这个币种信息页面可以查看到

24小时可以查看我们比特币全网的数据

那可以看到在大概在一年以后

就会发生第四次减半

然后近期来看比特币全网难度

已经连续五个周期

四个周期四个周期

就是四个14天都发生了这个难度向上的增长

那在这样的这个减半的预期下

这样的全网难度的增长下

为什么还有这么多人希望参与到挖矿当中

来获取它的利润呢

我觉得这可能是大家目前最关心的一个话题

因为Npool我们是全球领先的矿区

我们和这些挖矿的参与者都有沟通

我们总结出来目前还在参与挖矿这个投资产业的投资者

他们有这么几个明显的特点

第一个就是单体规模大

合规倾向很高

就是可能和今天我们web3的这个大会的各个企业不太一样

就现在的矿企越来越像传统行业里面的企业

公司化管理上市规范的财富报表

他们是这样的这样的管理模式

第二个是明显的资本密集性

就大家对挖矿的赚钱的方式方法可能和以前不太一样

不像以前单纯的就是我买矿机回本赚钱

这个逻辑可能已经不太这样子了

有一些一些大的资本包括这个东南亚的资本

中东的资本

他们在参与挖矿的时候

他们逻辑可能是另外一种方式

第三个就是能源密集性

这样多的长期主义者

这样多的长期规划的人参与到比特币挖矿里这么来

就会贪保比特币挖矿的利润

实际上我想说比特币已经挖矿已经不再像

曾经那么暴力的时候的那么暴力了

那这个时候大家会很关注他的这个成本收益的计算

那在成本计算方面

他主要的成本就是电费

那这个时候原来就在能源行业上下游

能源行业上下游有经验的这些企业 他们就会利用他们的经验来参与这个挖矿

另外一个就是我们个人投资者 可能现在很多在座的大家已经不怎么接触挖矿了 因为实际上挖矿可能离普通玩家会越来越远

我们认为个人投资者更多的未来会通过云算力的形式参与到挖矿当中来

那这里我想再强调一个就是这个随着算力的增长 矿机能耗迭代的减缓 长期主义者的加入

成本的计算 能源的优势在挖矿投资当中的因素影响会越来越重要

那能源现在在整个挖矿行业里面是怎么一个占比呢

那据这个剑桥比特币电力消耗指数统计 全球每一年消耗的在比特币挖矿上的电量大概是140太瓦时

就是140太瓦的太瓦时的电量

那这个折算成这个单位大家可能比较陌生 那折算成功耗的话应该是大约1500万千瓦 是这么样规模体量

大家听上去可能觉得这个公布体量还是挺吓人的 但实际上整个能耗占全网电量供应量的不到0.62%

实际上我们一说比特币挖矿在这个整个人类的这个社会的能源供给里面占比还是比较小的

第二个就是绿色能源挖矿占比越来越多 利用废弃能源的挖矿的这个投资者越来越多

因为绿色能源和废弃能源它天然有可能价格会比较便宜

这是一种大家这个矿工追逐地能源这个路径的必然

所以我们想说的就是挖矿其实远比大家想象的能耗要小 而且更绿色

最后一个就是特别是以北美地区现在挖矿产生的一个最大的特点就是平衡电网供给

就北美的矿工他们会做一个事情

在用电低谷期的时候 电价便宜的时候 电用来挖矿

但他们买电的时候是买了一个整包 在电价高峰期就是用电高峰期

大家开空调比较多的时候 用电高峰期的时候

把这个电返卖回给电网赚取电费差价

这是以前没有的模式 但参与这个模式这只是电网平衡供给的一个开始

我觉得这个趋势可能会演变成以后比特币挖矿和能源网平衡的这么一个新模式

因为我们知道能源特别是发电 能源是电能是非常难储存的

储存的时候耗费大量的成本

那怎么能在高峰期调节这个平衡

比特币挖矿的这个参与者可能能参与到这个事情里面来

可能会发生 我觉得可能会延展出很多多种多样的方式

那就随着这个POW这个发展

我们觉得POW是连接物理世界和虚拟世界的桥梁

就通过SSR56的算法通过矿机把能源和区块链结合起来了

我们觉得现在虽然随着以太坊POS的切换

POS生态展现出强大的潜力

但我们觉得POW区块链也不容忽视

它作为价值锚定和稳定共识的中间力量

POW我们觉得和POS应该会长期共存

还有像刚刚前面那个原著嘉宾提到的

在这上面的NFT也好 闪电网络也好 也逐渐开始

它既然有这么庞大的共识技术

它上面生长出来的生态我们觉得有可能是最繁荣的

那我们希望POW在不断自我进化的路上能够更绿色

能够提高人类利用能源的技术与水平

实现最纯正规模最大的区块链共识

实现人类科技历史的跨越

那最后我插播一段简单的插播一段广告

就是我们Mpool的这个业务内容

那Mpool是成立于2004年是全球领先的矿池之一

我们节点遍布全球

为世界各地用户提供稳定便捷高效的挖矿服务

同时我们作为一家区块链基础设施公司

Mpool相信科技为区块链世界带来的无限可能

我们致力于支持和发展POW社区

比如我们LTC基金会就成立了LTC Labs

为繁荣POW生态做出贡献

下面是我们矿池的一些APP的截图

其实经过了很多年的迭代开发

如果矿工用我们的矿池一定会用起来非常舒服

管理你的矿基金会一定会觉得

这是很好用的产品

那我们主要业务就是两个方向

一个是挖矿服务

就是大家挖矿必须要接入矿池

希望大家能选择我们

第二个就是我们提供云矿池的服务

就是说大家在如果想建立一个自己品牌的云矿池

可以选择我们的云矿池服务

我们可以让大家轻松的构建自己品牌的

继承挖矿业务模块

同时享受强大的网络存在能力

还有避免垃圾波动的风险

避免垃圾波动的风险

你的自己品牌的矿池可以直接享受收益

那右边是我们的联系方式

最下角是我们LinkedIn和Twitter

欢迎大家关注我们

好 谢谢大家

我今天演讲到这里 谢谢

谢谢 谢谢Leon的精彩演讲

Thank you Leon for the inspirational speech

So coming up next, may I invite Yan

Member of Omni Foundation and Foundation of Omni Vote

for a keynote speech please

Ladies and gentlemen, let's welcome Yan

我们用掌声欢迎Yan

欢迎Yan

刚才挖矿那个话题我听了有点入迷了

因为我在十几年前也在自己家里挖过

然后那个时候挖了几天

然后很快就被我妈妈制止了

所以是一个很美好的回忆

然后我今天就是

首先还是感谢肖峰总和各界领导

感谢万象区块链实验室和Hashkey集团

在香港这么一个美妙的城市

主办了如此盛大的活动

并给我一个宝贵机会

有幸代表Omni基金会

这样一家在业内耕耘了多年的

它应该是一个最早的比特币二层协议

那么是一个耕耘很久的一个组织

那么我首次在香港使用中文面向全球

讲述一下有关比特币生态过去和未来的话题

从技术上讲

在比特币上开发Dapp发行各种token

是完全可以做到的

那么不知道在座的各位有没有过这样的疑问

为什么那些Dapp比如Dex, DeFi等

一般都建立在以太坊上

而不是在比特币上

这当然有多方面的原因

比如以太坊的原生编程语言更灵活

或者是以太坊的出块时间更短

同时比特币自身选择了一个更保守的区块大小限制

所以比特币上手费可能会更高昂等等

但是在我看来可能这背后其实有更深层的原因

事实上比特币社区内的技术创新

在过去十年一直非常活跃

比如现在大家早已熟知的NFT等概念

最早来源和实现都是源自比特币社区

但跟以太坊平台热闹的时间范围不同的地方在于

比特币上各种创新概念的诞生和应用

往往伴随着社区之内巨大的一种争议和阻力

那么比特币特有的深深的这种生态文化观念

一直深刻的影响着应用领域在其中的发展

而这些影响可能在长期被低估

那么眼下随着整体技术观念的不断更迭

人们看待使用和发展比特币技术的观念也在悄悄改变

我将在此选取三个比特币社区文化观念变迁的历史性时刻

以期回顾和展望比特币的生态发展

首先

第一个历史性时刻就是还是有关比特币扩容方案的覆盖层

2012年1月6日JRVillage在知名的论坛Bitcoin Talk上公布了

他的白皮书叫The Second Bitcoin White Paper

那么这样的白皮书标题哪怕放到现在都属于非常激进

这也为日后JR更多的一些疯狂创新埋下了伏笔

所谓覆盖层通常是指使用了比特币

但没有自己的区块链的系统

比如一个rowup也许由一串区块组成

但它并不是一个区块链

通常我们可以认为覆盖层在复杂性和维护成本上都比区块链要大大的节约

常见的这种方案除了我们OMNI之外

还有counterparty以及染色币的其他变种

下面就涉及到一个问题

什么是染色币

大家可以看一下当时JR写的白皮书

这个白皮书后来形成了mastercoin的一个主体方案

也就是OMNI项目的前身

当时还在做比特币

当时还在做比特币

很多人都对这个项目抱有了巨大的期待

包括Vitalik13年的时候对这个项目也非常感兴趣

并且在他自己的那本杂志上

对mastercoin做出了大量长篇的报道

同时跟后来的OMNI团队有过相当多的讨论

直接促进了后来以太坊的诞生

另外在此要恭喜一下以太坊团队

因为他们最近刚刚完成了重要的以太坊上海更新

下面是关于染色币当时在历史上的一些争议

始于2013年的染色币

顾名思义可以形成了比喻为

人们对小额比特币进行染色

用以代表自己所持的其他资产

从而使更多类型的资产都可以通过比特币区块链进行交易

通常一个染色币的token会有两个层面组成

一个是映射资产的凭证

另外就是一个被映射的资产

由于奥米尼以及染色币概念的兴起

引起了宣传大波

不过我记得13到14年在各种交易所上主流的交易队

还是以各种山寨币或者说是比特币变种为主

那个时候在比特币上发行的一些实验性的数字资产还远为成熟

虽然虽然现在比特币上发行资产也不是主流

但是当时对于这样一个重大技术创新

在比特币社区内不可避免的引起了惊涛骇浪

当时主要的这种反对声音

就是对UTXO的一种滥用

以这位Jeff Garcic为主的一个论调

就是说UTXO传输一些浪费节点志愿者的网络资源的数据

是对比特币一种威胁

当时就有很多人

很多一些试图去扩展比特币功能的人

就是跟Jeff进行频繁讨论

有点有意思的是

后来他参与了一个比特币的侧脸项目

所以我很好奇这个项目

有没有让比特币存储他之前所批判的这些类似的数据

那么当时Vitalik为代表提出了

当你合理的使用技术并且产生相应的花费

那么你的行为其实就是有合法性的

所以像Jeff这样的论调

他没有权利代表所有的比特币人

这里是一个关于当年染色币和以太坊

两种类型Token的一个逻辑的分析

然后我对当时的Token的一个看法就是

由于你很难去对你持有的凭证认证并且成对

所以经常会有资产发行方单方面作恶

导致支撑整个Token的信用体系崩溃

包括BitShares在内的很多项目

其实在14到15年左右都做过相应探索

另外在Token经济领域前几天

肖峰总也有关于三代币模型等具体论述

所以这里我就也点到为止

然后在Token经济的早期时代

其实也有些明星项目

包括最早在我们的Omni Layer上发行USDT的Tether

另外关于Omni本身

还有一些有意思的可以分享给大家的事情

就是有一天跟OK的创始人许总吃饭

然后他就说

那时候大家都在用

但是经常出问题

这里也跟这些行业巨头们道个歉

然后因为Omni的开发和维护人员的力量

一直很吃紧

所以也欢迎大家前来赞助我们的开发

或者提供相应的帮助

虽然USDT后来取得巨大成功

但是显而易见

他也一直在承受刚才提到的一些成对方面的压力

总之Omni在区块链行业历史上的位置有着浓厚的一笔

并且还保持着火力

当时JR还有一个

还有一个很大的创举

他的创举就是他在发起这个项目的时候

其实他是最早利用了ICU这种形式的

那么为了开发当时的MasterCoin也就是Omni协议

所以他就发动了一个代币重筹

然后对于这样一个二层协议上的创新理念

直到今天仍然影响着行业内的很多内在逻辑

另外我顺带提一下

当时USDT的创始人跟我说过

他们当时做代币的目的是为了解决加密资产

当时加密交易所很难做法币出入金

所以他们就想到了用一个稳定币来去帮助这些交易所解决这种问题

由此而想到我们现在很幸运

是有中安虚拟银行这样的一个很好的服务

所以现在加密交易所和个人都可以相对容易的触及到这种法币出入金的业务

这里还有其他附带层的项目

我想可能今天已经有嘉宾介绍过了

所以我就不再赘述

我们曾经在跟闪电网络合作过程当中也产生过一些其他灵感

包括我在17年和另外一个企业家也是律师的朋友

有过一个创意就是把Omini上发行的Token在闪电网络里进行流通

直到18年底或19年初的时候

我们才有机缘和这种足够的资源去在Omini内实现这个技术

目前项目一直在有一个专业团队在推进

然后侧链项目我也不再做太多的介绍

因为之前的嘉宾有一位是侧链方面的专家

然后放在这里面是为了让整个演讲逻辑显得更加完整

同时我在我看来覆盖层其实已经可以为比特币带来很多好处

同时构造更简单

对比特币的伤害也更小

让我们把时间线拉到现在

2023年1月20日

Odinus协议正式推出

其实我想很多人还没有意识到

因为比特币开始其实就是支持智能合约的

但是它只是简单的脚本程序

不过我很喜欢这种简单的艺术

我愿意称比特币的脚本设计为一种简约的艺术

不可避免的

不可避免的Odinus也带给了比特币创新文化的一种巨大冲击

但是有了之前对比特币扩容方案口诛笔伐的这个诸欲在前

我们可以看到经过11年后正反双方的看法

僵持点还是基本不变的

但有意思的是Odinus协议这次是直接在比特币链上做很多文章

并且22年初跟比特币改进提案小组直接展开了沟通

所以这种公开的形式也是很有意思

我的一个观点就是如何利用比特币的可编程性

并且形成一种组合

其实在OP Return输出中的金融交易在本质上和全节点存储的其他东西没有什么不同

核心的问题在于比特币的核心圈子一直在奉行一种资源使用最小化的原则

拒绝低成本交易占用区块空间

哪怕像Omni Layer这样的一个覆盖层当年都受到了严重质疑

那么之前没有出现Odinus这样的做法

很大程度是因为圈子里开发者在坚持初心

而不是因为Odinus的技术有特别的突破

虽然我也感到Odinus在主链上存储大量数据的方式不够优雅

但正如其作者所说

他希望让比特币变得再次有意思起来

那么在这一点上他非常成功

我非常欣赏这种很浪漫的这种技术行动

同时我也提倡数据的公共领域应该形成相应的这种行为准则

只要支付费用就可以做任何事情的这种说法

听起来不太对劲

我认可的是Odinus吸引人们重启对比特币的一种兴趣

同时对生态观念层面上的这种探索思考

然后第三个历史时刻我就选择是今天

2023年4月14日

此时我们在香港将会一起创造和见证历史

纵观人类科技发展史

相当多的伟大发明其实是人类发现了前人成果之外的用途

并且这种发现和灵感来源不仅是思维和专业的沉淀

我想更多的是一种灵性对人性的一种启示

尽管比特币社区的创新一直非常活跃

很多方面都走在了区块链创新的前沿

但比特币生态的发展主要仍然是一个主观问题

即社区观念的问题

在我看来生态的扩展并不总是跟消极相关的

而消极的结果恰恰往往来自于消极的看法和观点

虽然我能够理解一些比特币人的审慎

比特币当时的横空出世是那么的让人激动人心

我到现在还记得十年前第一次接触并且使用比特币的感受

我也知道比特币还承担着其他的使命

不仅是行业上的甚至可以说是承载着一些人类的特殊使命

因此在比特币上每一次改动都将牵动人心

如果我们能够时刻回到当下

秉持着一种不念功利

以超然的视角看待每一次创新的诞生

每一次观念的碰撞

并带着良知良能去做好我们所感兴趣的事

我相信不仅是比特币社区

乃至区块链行业和人类社会都会因此受用不尽

虽然我一直在Omni Foundation

但是我也曾经关注过很多各种各样的技术领域

但我想接下来我将会专注于推进比特币生态的发展

并且做出一些行业的贡献

谢谢大家

怎么按

好

哈喽大家好

喂

可以听到吗

喂

这个好一点

哈喽大家好

非常感谢大家这个在下午这个时间点

来听我来分享一个关于比特币挖矿全球能源布局的一个报告

对这个终于这个几连续三天的时间

都是跟都是跟web3相关的很多的项目

让我们能够时隔疫情之后再度看到非常繁华的这个现场

那也很难得

我们经历了这么多周期到今天

依然坚守在这个行业当中

今天呢

我们就来主动分享一下关于比特币相关的一些内容

嗯

这个因为前面有几位老师已经讲了非常多关于比特币一些比特币挖矿

以及比特币网络相关的一些基础介绍

所以呢

我就专注于能源相关的部分呢

来做一些相对多的一些分享

那比特币挖矿呢

不仅是维护比特币网络的基本环节

同时也是连接虚拟货币和物理世界的关键环节

那原因很简单

就是比特币的产生是由mining来

这个计算过程来进行产出的

那我们来分享一下比特币挖矿的一些重点环节

那挖矿的整个过程其实非常简单

就是我们有三个部分和三个重点环节

一个是呢

我们采用比较高效的这个基础设施

就是我们的矿机miner

然后同时呢拥有全球

找到全球最稳定和最价格更低廉的电力

然后进行计算

那产生比特币

同时呢

我们就要有比较有经验的团队

管理团队也好

也好建设团队也好

也好把这些所有的环节把它连接起来

所以呢

就比特币挖矿本身这个业务来讲

它是一个非常简单和单一的过程

这个就是一个比特币挖矿的一个环节

那这个是就是非常简单就可以产生比特币

那在比特币从技术角度来讲呢

它的整个原理呢

是验证交易和保护比特币基础网络的一个过程

比特币网络中的交易呢

被记录到每一个区块当中

矿工们就是像我们这样的miner

争相计算

在整个计算计账的过程当中

虽然比较复杂

但是它是非常容易被验证的

计算的过程呢

一旦这个交易过程被认证了之后

那这个整个网络就获得了确认

在确认完毕之后呢

会组成一条新的区块链

在这个区块链的连接区块链

连接区块的当中

连接成区块链当中

矿工们会获得

因为我的计算会获得奖励

那这个整个的过程呢

是每十分钟产生一次

大家知道2014年

也就是明年的三月份

会进行比特币的下一次减半

到现在目前为止呢

每天会产生900个比特币

包括

每天会产生900个比特币 包括奖励在内 那么每一个区块呢 会出6 25个比特币

好 这个是我们已经看到的 全球来自不同的传统金融机构 以各种各样的方式来进行

拥抱比特币 有来自支付的 有来自资管的 有来自

还有一些上市公司通过购买比特币来作为自己的一些价值储备

那比特币 比特币矿机呢 这么多年的发展呢 我们看得到

从我 我们自己是18年开始进入到这个行业的

到现在为止 比特币矿场及矿机的规模呢 其实是发生了非常大的变化

从这个0910年就最早期的这种

通过非常小规模的就在自己家里面挖矿

或者通过电脑或者一些cpu的

一些设备 然后到至今为止2013年

开始逐渐有专业的 当s 矿机出现到现在有专业的大型矿场

到从最早在中国有70%的比特币的这个算力到现在

主力是主要是在美国 那美国有将近百分现在有将近50%的这个算力

这样的一个整个的发展的过程吧 那我们也是见证了整个过程的这个发展

呃 因为刚刚我们也讲到了这个比特币设备的效率的提升 所以我们也看到了

带来的结果就是全网难度的上升

那从09年到18年 其实它的生长速度非常快

每一个周期有几十将近十倍的这个增长

那近两年呢 因为它的基数已经非常大了 从18年开始这个我们是18年进入到这个行业

100多亿的这个增长到现在已经奔着400亿去了 我们能够看到的原因呢 就是基础设施的

快速的发展 还有以及传统金融的这个巨头开始关注到这个行业 导致非常多的

这个算力的上上升

呃 那么这个虽然即使最近前一段时间前一个小周期币价虽然在

低谷 但是我们也能同步看到的是比特币难度的上涨

所以在这个阶段呢 其实矿工是比较难受的 就是币价比较低 但是呢

矿机 但是的这个全网的算力呢 却不停的增长 那么我们对于未来算力增长的难度的预期呢 其实也是非常的

呃 可呃 正向来讲 就是呃 难度还会继续增长 且增长的速度会非常的快

啊 那当然这里面有一些 呃 相对比较大的瓶颈 就是啊 矿场的这个建设 它本身是需要一个建设周期的

啊 那除了我们看到矿机本身的发展呢 我们看到它周边的这些设备也是在不停的

呃 变化 比如说从我们最早在挖矿的这个呃 呃 传统的风冷的这个冷却设备

到 呃 通过密闭式的这个开始有这个像矿箱一样的专业设备

到 呃 前段时间 呃 非常火爆 大家都在推行的这个夜冷

啊 在夜冷的同时呢 还有静静默式的水冷和夜冷 那这样的

呃 过程呢 其实有多个原因去推动它完成啊 比如说我们

需要更相对比 因为我们现在

呃 在挖矿的大部分的地方呢 其实是都是比较偏远的 那我们希望自己能够去构建一个相对比较好的

呃 环境啊 比如说像我们啊 在Texas

对吧 达拉斯的西部其实是

呃 既风沙很大啊 同时又呃 在6-9月份温度又很高 长达50多度

那我们其实在传统的风冷矿场呢 已经做了非常大的改善

但是在改善冷却的同时呢 我们又没有办法阻挡风沙的进入

因为当阻挡了风沙的进入 又没有办法去排风等等会遇到了非常多实际的情况 那这也是

让我们看到在风冷时代的一个告别式吧 同时呢 我们迎来了新的水冷时代

和静默式的这个时代 那我们

矿工也是在新的新的机会里面看到了说 那我们

抛弃了传统风冷的这种散热方式 选择更加稳定的夜冷和静默式的水冷方式

然后消除噪音 更加的环保 更加的esg 所以呢 这个也是让矿让矿工从

原来的个体散户到逐渐机构化的一个一个重要指标吧 嗯

然后呢 这个后面的部分呢 其实也是我重点比较想去跟大家分享的

我们看到了从21年之后 全球的这个算力格局的一个巨大的变化

啊 从先从种类上来讲 从原来我们依靠比较传统的能源 比如说煤炭

火电天然气啊 到现在越来越多的

这个走向可持续发展的这个能源啊 到现在今天还有分享用核电来挖矿的 还有我们之前

尝试过用垃圾处理的方式

来进行挖矿的 还有以及水电 太阳能 还有风电

嗯 这个就是一个用逐渐大家开始走向清洁能源和可再生能源的一个过程

然后呢 因为矿工其实啊 某种程度上来讲 挖矿就是一个

这个挖矿有点像电池了

他在不断的储备

不断的去储备那些比较边缘化的能源 让这些能源 因为他不能上网 没有办法提供给

市政没有办法提供给老百姓来进行日常使用 而我们把这些电力逐渐转化为

逐渐逐渐转化为像比特币这样能够储值能源相关的这个资产这样的一个产生

那么像现在我们选择的地方 因为矿工一定会去选择能源价格最便宜

而且那这样的这样的场地呢 基本上都是比较边缘的地方

那当然逐渐最近也开始有非常多的产地往更发达的地方发达地区去发展 那与此同时呢

但我们其实跟传统能源没有这么多的竞争 因为我们选择的地方

都是比较偏僻的 比较因为不能上网 因为不能上网而导致这些能源被浪费的这样的一些能源

因为挖矿刚刚提到了 因为挖矿能源的多样性呢

以及有整个挖矿产业越来越趋向于环保

所以呢 到现在为止 我们可以看到有几个数据可以给大家分享一下

比特币矿业的耗电量呢 其实关于这个问题啊 我先讲一下啊 在

几年以前有一些地方和国家把

地区和国家把比特币挖矿定义成高耗能产业

那究竟它是不是高耗能产业呢 我分享几个数据 大家可以来进行评估一下

首先呢 这个比利挖矿的耗电量呢 占全球总能源的耗电量呢 0.17%

呃 这个产生碳排放呢 也仅仅占全球碳排放量的0.11%

那上一个季度呢 上一个年度就指的是2022年的这个年度

全球呢 这个

同年同比例增长的算力呢 增长45%

但是我们的能源使用率呢 仅仅增长了25% 这意味着我们的利用能源的效率其实提升了非常的多

最后结论呢 是说比特币呢 其实是可在可可持续发展能源当中的

非常大的啊 在去推动可继续发展 也自己意识到了我们应该去多使用可继续发展能源

啊 所以呢 我们在可持续发展的能源组合当中呢 啊 我们占这个使用量占58.9%

我打这个 这个简单话来讲呢 就是我们每用100度电 其中呢 呃 58.9度电是来自于可再生能源

这个数据呢 呃 这个这个相关的数据呢 呃 刚刚上午那个陆海天陆教授其实也提到了

啊 这个是关于一个一年 呃 各个行业的一年内的 呃 这个 呃 电力的使用量

呃 比特币呢 是啊 140太瓦时

啊 这个化学 呃 跟化学品相关的这个产生呢 是1349

啊 这个太瓦时啊 那其他的行业呢

各行业不同而已 我们知道除了

比特币之外呢 其实像传统的铝业

对吧 这个各个方向的制造业 纸业其实都是非常高耗能的产业

那当然我在这里这里面要特地讲一点 就是我们的耗能其实跟传统行业的耗能是不一样的

我们始终始终使用的是

呃 最简单来讲就是我们用的是边角料能源

对 比如说我们用了一些垃圾处理的能源 比如说我们用了一些不上网的能源 比如说我们用了一些偏远地区无法输送到

核心地区的这些能源

那其实这个

呃 本身的耗电量的本身又不大 与此同时呢 我们还用的是边角能源

因为我们这个行业 呃 比较特殊 因为比特币不停在波动

对吧 然后呢 加上比特币这个呃 去中心化的产物呢 让大家特别的关注 所以就容易放大

比特币能源的影响 对于整个全球能源的影响

呃 这个数据呢 是刚刚刚刚我们提到了说

呃 比特币的这个呃 这个挖矿的可再生能源的占比呢 是非常高的

58 8% 这个是什么概念呢 全球使用啊 可再生能源的所有国家当中对比起来

啊 德国是占比最高的 啊 德国呢 是占48 5%

那么也就是说 每使用100度电啊 德国有百分之

每100度电里面 德国有48 5度电是来自于可再生能源

而比特币每使用100度电有58 8是来自于这个可再生能源

所以我们已经在对比全球最

呃 发达且使用 呃 这个可再生能源

比例最高的国家 我们已经是比他已经相当领先 也相当在意可再生能源的这个使用啊 所以呢

呃 在这些地方呢 其实我们也是啊 更加关注这个esg的这个方向吧

呃 这个是一些啊 简单的一些案例吧

对 这个是我们看到的 比如说在风电厂旁边的这个德州的矿场

因为大家知道这个在美国的中部地区呢 是太是风电非常在美国的中部地区

是风电非常发达的 那我们也在德州啊 在建立我们跟风电相结合的这个比特币矿场

啊 当然啊 全球比较发达的几个地方啊 像巴拉圭的水电对吧

呃 当然也有人去像老挝这样的地方 老挝的水电

还有欧洲的澳洲的这个太阳能等等 其实已经有非常非常多的地方

在专注的使用清洁能源

但你说是不是矿工故意而为之呢 还是说因为这些清洁能源

确实他也是消耗 消纳不出去 所以我们来使用了

当然 我觉得很多程度上矿工只是为去寻找这个电价最低的地方 也刚好这些地方的产生都是由这些

呃 不能够持续性呃 持续性产生电力的能源而产生 比如说风电

那像比如说像我们自己啊 我们自己有一个虚拟矿场的一个规划

就是啊 每天晚上的时候是封地发电量的高峰期 而晚上的时候呢又是

呃 呃 这个老就是这个百老百姓就市政用电的低谷 那我们刚好

晚上的时候呢 把我们相对算力比较低的机器开起来啊 在美国 尤其德州最近这段时间晚上是负电量

负电力的价格基本上是在一美分或者是负一美分之间

所以也就是说在晚上的时候 我们凌晨我们使用使用这个电力不止德州还会当地还会

呃 当地呃 州政府还会奖励我们电费啊 或者是负电费 或者是呃 一到两美分左右的电价

所以呢 我觉得未来很可能会随着这些边缘的能源的

呃 释放 然后呢 大家会去来进行像电池一样去调控自己的这个机型

嗯 对 这个是一些 呃 光伏发电的一些矿场

呃 刚刚我们其实重点已经提到了 我们其实并没有在使用一些

核心的能源 因为核心的能源电价工业工业电的电价的成本是比较高的 所以矿工一直在寻找这些跟

比较相对比较边缘的能源啊 那这个数据呢 就是说啊 我们如果跟黄金开采相比较来讲

呃 我们其实挖比特币的这个耗电量呢 和黄金开采的用电量呢 其实是相当的

所以呢 比特币矿工其实并没有跟其他的行业 尤其是

呃 呃 重要的工业行业和一些居民用电所竞争相同的能源 而是我们去呃

而是我们去呃 使用的都是相对比较边缘和废弃的能源

然后 那这个呃 刚刚其实我们也提到了这个数据啊 就是我们整个比特币的能源

呃 的使用量呢 在全球能源只有0.17 也就是啊 它的使用量是非常非常小的 这个我们是可以看到的 我们

啊 然后呢 以及啊 比特币的这个耗能的耗电量和很多传统的其他的产业的比例也是更加乎可

可忽略不计

嗯 最后呢 我们再简单分享一下 因为从2021年开始 我们也去了非常多的

地方啊 从啊 中国的内蒙 云南 四川 新疆

对吧 到啊 哈萨克散 俄罗斯 中亚地区 到欧洲啊 冰岛 挪威

再到了巴拉圭 还有以及到了美国的非常多的州 其实我们也想跟大家分享一下这几年的一些算力的变化

啊 这个这个数据呢 就是从

啊 最早20年2020年之前吧

2021年之前可能70%的算力都是在中国 那现在百分之有将近34 35.4%的算力

啊 在美国 然后以及中亚 中亚 加拿大等北美地区

那么这个移动的变化呢 这个时间非常短 仅仅是一年的时间就把这个整个算力格局

然后变成了一个巨大的改 巨大的改观

啊 北美洲呢 大家知道这个几家比较大的上市公司啊 包括

呃 一些啊 对 包括一些金融公司所采购的算力和比特币都是来自于北美地区

像麦尔松啊 瑞特呀 啊 他们都是有一甚至在未来有可能有一g瓦以上的这个场地

啊 所以呢 美国确实成为了这个挖矿的核心核心地区

北美地区 那南美地区呢 主要是

啊 把我们自己在巴拉圭也进行了比较多的尝试 但巴拉圭最近开始因为合规涨了很多的税

啊 那巴拉圭 阿根廷 巴西 美内瑞拉这些南美地区呢 因为它的水利资源非常发达 我们也看到了非常多的

矿工去那边

啊 中亚地区呢 因为它火电能力很发达啊 大家知道在这个哈萨克斯坦其实是

因为离中国又很交界很近嘛 所以21年的时候有非常多的啊 中国矿工选择去了哈萨克斯坦和俄罗斯

啊 最后欧洲这个地方呢 因为欧洲欧洲的水电呢 其实是非常发达的 像我们早期去挪威和冰岛的时候

它的电费比现在的美北美还要价格还要低

而且像啊 以j j smiling这样的比较大的企业呢 一直在冰岛

和挪威去发展新的业务 还去做一些供暖的这些设备 所以他们是比较早就被开发的这个地区

啊 最后呢 呃 总结一下就是说

我觉得未来呢 比特币挖矿会逐渐进入到这个esg的这个方向 因为有越来越多的大资金和大企业开始去关注比特币挖矿

那在这个的前提的基础呢是

啊 esg 因为我们走到的这些地方刚刚提到不管是欧洲也好还是美国也好 其实都是

啊 非常在意esg啊 也非常在意说我们为这个社会提供了如何的贡献 我们消耗这些能源 我们带来什么样的价值

所以呢 因为这样的一个前提 所以我相信未来比特币的

呃 挖矿会逐渐啊

在越来越越来越进入更加esg更加可持续发展的方向

啊 因为它的商业模式越来越简单

啊 无非就是我们把我们拿我们利用了稳定的电力

然后我们提供更高采购更高效的miner 然后我们产生更低价的这个更绿色的比特币

所以呢 这样一个简单的商业模式呢 也推进了更多的企业开始去传统传统企业开始去关注到这个产业

那最后呢 就是啊 也是我们

也同时在布局的就是关于分布式挖矿和虚拟电站

就是我们会利用更加边角料的电力 更加低价的电力啊 和更加低价的能源

和更加小规模的

这种试验方式在全球各个分布式的地点和分布式场景下

进行一些进行比特币挖矿 然后我们去利用起来这些不被重视开始不被关注的这些能源吧

好 这个就是我整体的分享 谢谢大家 然后最后介绍一下

gdk capital

我们是从18年就开始专注在比特币挖矿这一个产业里面

我们有这个有

如果大家有关于对于比对挖矿感兴趣 比如说您比如说

企业有想要挖矿 您有能源 我们可以提供资金和配资 如果您有

自己的矿机 我们提供托管服务

然后如果有算力 我们也可以进行算力交易

所以我们为这个行业提供了非常多的基础设施 然后我们同时也有这个麦宁放的帮助大家一起去

建设比特币的比特币矿场和比特币算力的基础搭建吧 所以也期待跟大家合作 谢谢大家

谢谢 谢谢这期的精彩分享 谢谢

thank you daisy for the inspirational sharing thank you

so ladies and gentlemen moving on may i invite mr ethan vera

co of luxury mining to deliver a keynote on mining finance ladies and gentlemen please join me in welcoming ethan

round applause please

so

good afternoon everyone nice to meet you my name is ethan i'm one of the co-founders of luxor

thanks for sticking it through to the afternoon here i know people are probably pretty tired so i

appreciate it today i'm going to be talking about the active management of mining this is a topic

that's not often talked about a lot of people think mining is very passive you buy a machine you

plug it in wait three years and see what happens but really the best miners and the most sophisticated

miners out there are actively managing their portfolio and i wanted to walk through that process

so we're about one year out from the halving it's going to take block reward from 6.25 btc to down to

3.125 that is going to significantly reduce the amount of reward that miners have and heading

into that miners really need to prepare their operations to make sure they can survive the

halving the best miners will look to leverage every solution out there for them financial

services technology advancements and get the leg up on their competition and you'll start to see a

real differentiation in the best miners to the ones who aren't as good that's one unique part

about mining that's very unlike staking you could give 1 million dollars to company a 1 million

dollars to company b and they will have very different investment returns they'll make

different decisions on asic procurement deployment financial services even in some cases

even in some cases one company may become a billion dollar valuation while the other company

becomes bankrupt and so leveraging these tools is quite important there's dozens of tools that

miners can use out there but today i'm going to touch on three main ones hedging using hash price

derivatives firmware on the machines and then finally asic portfolio management so starting off

with hash rate derivatives this has been you know kind of a buzz word over the past few years and

it's really coming to fruition now taking a step back looking at a mining operation what miners

are doing is they're purchasing asics and running them what asics are in simplicity is a computer

and what those computers are producing is compute power something that we call hash rate in mining

hash rate has a value ascribed to it by the bitcoin network so the bitcoin network is willing

to pay miners to secure and validate the network and so at any point in time you can measure the

value of a unit of hash rate in bitcoin terms that's determined by the mining revenue blog

subsidy and transaction fees as well as your slice of the pie which is network hash rate

leading to the difficulty level and so that concept we call hash price how much bitcoin does each unit

of compute generate over a certain period of time as you can see here hash price is actually quite

volatile wti we wti oil we usually consider a very volatile commodity and the oil industry is

very volatile yet miners are facing it an even more volatile asset class historically there

haven't been a great way to push that volatility to a buyer and hedge risk but now there's a suite

of products that allow for that to happen and so miners are leveraging that to their ability

we've done a little bit of modeling on hash rate derivatives over the past few years to come up

with some key themes on the right hand side here you can see what hash rate derivatives look like

and what discount you can expect by locking in your hash price for a certain period of time

as you can see hash price trades in backwardation meaning that over time the longer the duration

the steeper the discount of hash price largely a reflection of network hash rate coming online

and mining economics dropping so taking that into account we've modeled out since 2020

which we think is a pretty good view as we went through the 2021 bull market as well as a

subsequent fall in 2022 as you can see in some of these charts here a hedge miner actually loses

money on the way up because they're locking in revenue at a lower cost while price is rising

but they save money on the way down and so over the long run actually the total cash flow

is very similar for a hedge miner versus an unhedged miner but the really key aspect to this

is that the variation of cash flow the volatility has been significantly reduced the unhedged miner

faces a standard deviation of cash flow of 33 percent whereas with a 12-month hedge it's only 12

what that means is that hedged miners can survive bear markets if mining economics drops they'll

survive at the same time having consistent and stable cash flows really changes the investment

profile of a mining operation and so capital providers are willing to lend money at a lower

rate to miners that are hedging and reducing that volatility. Moving on to technology number two

which is firmware and for us non-engineers in the room the simple way of thinking about this is

software downloaded onto the hardware device onto the ASIC so all ASICs come with firmware

bitmain micro bt ship stock firmware from the company and that firmware is needed for the cut

for the machine to run historically manufacturers haven't put a lot of work into the firmware they

focus on other areas of the machine and that's left a lot of features that miners wished were

there and so third-party companies have gone and built custom firmware that have added a lot of

optionality to miners to leverage. Talking to two of those options underclock and overclock

underclock represents lowering the hash rate of your mining machine but at the same time it lowers

the electricity usage even more which results in a higher efficiency for your machine for example

an s19j pro can go from around 30 joules per terahash down to 27 or 26 depending on operating

conditions and so miners use this to improve gross mining margin as you can see in the top

right here it improves the overall margin of mining. The other method that miners are using

is overclock which means that you're increasing the amount of hash rate that the machine is

delivering you can increase an s19j pro from 100 to 130 terahash but then also increase the power

usage as well. While it does decrease gross margin it significantly improves the return on

investment capital and so these two techniques can be used depending on market conditions

to improve the cash flow of mining operations. We've done some modeling as well looking at the

cash flow of an s19j pro over the past few years and looking at what would happen if you use custom

firmware. What we can see is that if you leverage a dynamic solution where in bull runs you are

overclocking your machine and in bear markets you're underclocking you significantly improve

the cash flow profile. For example for a medium opex miner mining in you know five six cent range

you can improve your cash flow for a single machine from under 15 000 to 17 000 by leveraging

custom firmware. Some of the most sophisticated miners are leveraging multiple data sources so

they're bringing in mining economics from the blockchain at the same time operational aspects

and then they're running scripts to automate a lot of this when they should be overclocking

when there should be underclocking. And finally last is ASIC portfolio management. As I mentioned

earlier a lot of people think mining simple buy a machine leave it but there's the times in which

it makes sense to own certain machines versus others. Over the past four years we've been

collecting a lot of data on ASIC prices and so fortunately it's allowed us to do a lot of

interesting analysis into ASICs as well as we have this for free all this public data

on hashrateindex.com. One of the interesting analysis is we look at is the price of machines

relative to the price of bitcoin something that we describe as the beta to bitcoin.

The key analysis here is that new generation machines have a low beta to the price of

bitcoin whereas old generation machines have a very high beta to bitcoin. In practicality

this works because in falling markets where mining economics are dropping a flight to

efficiency happens where people rush to the most efficient machines like the s19xp because it is

the furthest away from break-even levels and it's better in low economic environments and so there's

some stability in the price of these very highly efficient machines. On the flip side of that the

old gen so in the depths of a bear market old generation machines trade almost like paperweights

and s9 was basically free in 2020. You could buy it for essentially the value of recycling it maybe

a few dollars but when mining economics improved like we saw in 2021 the value of these machines

increased significantly it went from effectively zero to 500 within a few months and so owning

different generations of machines can allow you to capitalize on different areas of the market cycle.

This analysis isn't a one-size-fit-all so not every miner can use the exact same strategy

it really depends on the operating costs and the profile of each miner.

If a miner has very high cost of power in the seven to nine cent range then they have limited

flexibility in how low they can go in terms of efficiency tiers because if they go too low they'll

be losing money and so they have to trade within a tight range of the highest efficiency machines

whereas if you have low cost of operations you know five cent kilowatt hour or lower it allows

for more flexibility to drop down the efficiencies and allow for more flexibility there.

So we did a lot of modeling this out as well this idea of ASIC portfolio management

to see what the difference would be. I briefly touched on this earlier but the idea is that

during bear markets near the depths of the bear markets you're consolidating on lower efficiency

machines and then in the top of the bull run you're consolidating on higher efficiency machines

and turning your fleet more efficient and you want to be trading your ASICs as such and so an

example of this that we took is in the bottom right here where at the beginning you're running

a top-of-the-line efficient machine at the depths of the bear market at the end of 2020

you're consolidating into lower efficiency tiers and then you're trading back into the high

efficiency tiers near the top of the the bull run and you can see that the ASICs are

the bull run and you can see a difference in cash flow here of almost two thousand dollars

based on that ASIC portfolio management. Now in the real world it's not as easy as you know

trading on paper there's physical cost to doing this you have to unplug the machine box it up

ship it out get a new machine plug it in but many times the cash flow difference justifies

all of that work and so we see a lot of sophisticated miners and some of the top

miners that we work with practicing this ASIC management portfolio a topic not often talked about

so today we talked through three different strategies hedging hash price

firmware and ASIC portfolio management again there's dozens of tools out there so really

I just selected three of many that you can layer in once you start layering these strategies on top

of each other they actually accumulate in terms of their effect and compound on each other for

starker differences in cash flow and so when you leverage all three strategies at once

on the bottom here you can see there's a huge divergence in cash flow for an actively managed

miner to a passively managed miner and so a lot of miners are kind of layering this on finding ways

to get more cash flow and for them that's very critical especially given that the halving is

coming up mining rewards are decreasing and they need to find every way to get profitable

so I appreciate everyone listening I put my contact information here and I'll probably

hang around after the stage after a bit again I'm the co-founder of Luxor we run mining software

financial services so we operate everything from mining pools ASIC trading desk derivatives

firmware we're based in Seattle in the United States but we have team members across all major

hubs of mining and you can find me and the company at the following website as well as online

over email and telegram so thank you so much

appreciate and I hope everybody has a good rest of the conference

thank you Ethan for the insightful speech and if you have any questions for mining finance do

feel free to reach out to Ethan. A gentle reminder for all of you so throughout the

festival you may collect stamps from the areas across the exhibition hall and you may refer to

the logos page for details and with a complete collection of the stamps in one area you may now

you may can you may proceed to the information desk to redeem a corresponding gift and each

visitor may collect once a day and every gift is limited to 500 pieces and will be given out

on a first come first served basis and also simultaneous interpretation is provided during

all sessions you can scan the qr code on the brochure or on the at some areas at the entrance

and you can then listen to the simultaneous interpretation through the mobile phone

so it has been an information packed and inspiring afternoon session and now may I invite

the following guest speakers on stage for a round table on the topic of halving bitcoin can this be

the starting point for the next bull market ladies and gentlemen we now invite Colin Wu founder of

Wu blockchains and discuss fish co-founders and ceo of Kobo so ladies and gentlemen let's give

a round applause to the speakers in the following session

today we are using this普通话交流对如果有一些嘉宾他这个呃比较擅长的是广东话或者英文的话那么可能

需要呃要一下同声传译或者什么啊呃这个神鱼这个这个虽然这个这个行业里的人大家都很熟悉了啊但是

可能在场有一些圈外的观众就要不就麻烦您先自我再简单介绍一下

嗯大家好我叫沈宇然后呢算是一个老韭菜和老矿工了那我在

2011年的时候吧正式的参加参与了整个

呃中国的区块链早期的建设在13年的时候呢推出了第一

第一个中文的世界的矿池F2不语池也一度曾成为了全球最大的比特币以太坊矿池

我们峰值的时候有超过三分之一的比特币的算力

呃有一个小插曲吧我们也是世界上唯一一个团队对比特币进行过一次成功的双发攻击的团队

然后到了2017年之后呢我们发现区块链开始有了大量的应用但是

呃围绕着安全和私药管理这里面暴露出了非常多的风险敞口所以作为一个

比较擅长做技术设施的公司吧我们就

呃成立了科波这样一家专门专注于私药管理及其

衍生风险的家公司所以这家公司大概目前做六年多的时间主要围绕着

呃钱包安全底层的资产的托管从

全中心化啊半中心化的NPC血管到最呃完全的去中心化的链上智能合约

多千的产品形态都有设立ok

好的呃这个我也简单介绍一下我们吧对大家如果

阅读新闻的话可以在推特或者是telegram或者是公众号等平台搜索我们的这个

无说或者无说区块链对

然后其实可能如果有神鱼他其实是这个

呃crypto这个中文圈这个最乐于分享的一个人所以其实

呃很多信息他也都曾经在各种各样的采访或者自己的文章中

呃

发表过所以大家其实也可以去网上搜索一些他过去的观点

啊其实某种程度来说他应该是这个咱们这个华语行业中

呃最乐于向大家分享的一位这个早期早期大佬啊

这个所以我们回到这个最早期就是其实这个

呃币圈呢他可以分成几个阶段

呃最早期的我理解应该就是这个2015年加入的这个行业的人

而那一批行业的人尤其在中国可能是主要以矿工为主

啊那么下面呃就想请神鱼分享一下这个

呃你刚进入行业的时候是一个什么样的契机以及

呃那个时候这个这个圈子的氛围啊是什么样的一个氛围

其实很多早期的一些文章非常有意思说是这个比如大家都在一个qq群里面

是吧这个也是一些很有意思的一些

意识大家其实有的可以去搜索一些文章包括有一些

我记得神鱼还接受过一些视频采访是吧这都可以看对就可能再麻烦你再给大家分享分享啊

呃我其实进入整个圈子其实是一个很偶然的因素我当时在上

大学然后呢在一个很无聊的下午在图书馆看书上网的过程中突然看到了两次

关于比特币的新闻可能是比特币突破一美金的这个新闻

然后呢我就很好奇去search了一下什么是bitcoin

然后就发现了中本聪的这篇白皮书

然后读完这篇白皮书之后呢就非常非常的震撼

然后接下来就花了三个月的时间基本上除了在床上躺着

呃看这些比特空的一些论坛一些社区的讨论

然后基本上没下床包括吃的都是宿舍的同学帮我带回来的

然后呢经过了三个多月的论坛的逛完之后呢发现整个当时的亏不得世界还是一群加密极客

大家都有各种各样的天马行空的idea在当时看起来可能不太能行但是

但是底层的逻辑好像又似乎符合逻辑

就加密货币他最核心的问题是说把

货币怎么通过把它数字化之后在全球自由的去流转同时呢又不被

双花的这件事情他把这个事情虽然都是一些很成熟的技术但是他把组合的非常的好

啊所以作为一个工科生就被这些技术讨论深深的吸引

所以后来我基本上大学后面就没有好好上学了就基本上在比特币的社区里面做一些早期的见识和探索

所以最早呢我们是把国外的一些技术类的文章翻译到中国然后

也交到了非常多的国内的一些朋友

所以最早呢大家国内社区呢基本上是围绕着qq群作为一种交流手段啊比如说大家可能还能看到的一些

啊群比如说听到的一些群吧比如说和平饭店然后还有一些很神秘的群组啊当时大概

在我的印象中可能总共有四五万人这样的一个群体

一方面是一帮加密极客另一方面呢是说是很多国内很

很巧合拥有了当时拥有了大量显卡资源的一帮人那帮人最早是做

诺基亚手机水货手机的那个破解的但是突然

爱风火了这帮水货手机没有了市场

所以他们手里有大量的前置显卡资源就也刚好发现了比特币就切进来就用显卡挖矿

这基本上当时在2011年到13年的这个阶段

基本上中国的加密生态就是这两帮人一帮是充满着各种理想的

加密朋克一帮是这种脚踏实地的拿着显卡的

突突挖矿的这帮矿工

然后所以很幸运的是中国在很早的时候就就就切中了整个加密赛道里面非常核心的

挖矿的这个领域因为当时在整个加密生态里面其实能做的事情不多只有两件事情交易和挖矿

到了13年之后呢就开始涌现出了很多

华人背景的交易所因为大家经历了在外八的世界里经历了一轮

这种团购大战之后呢一些公司就转转转航到了

亏不得加密的交易所的赛道也成为了现在大家可能很多耳熟能详的一些加密交易所的一些前身

所以当时基本上是这样的一个状态

所以大家都每天都在讨论各种各样很兴奋的idea和想法

但是十年多过去了这些很多的想法idea其实现在已经变成了现实

比如当时讨论的稳定币的想法也早期的去中心化交易所的一些idea其实现在都纷纷的实现了

啊所以所以我觉得呢站在现在去回看过去其实当时看起来很多不可思议的一些创新一些idea

都能够实现那么今天我们已经到了一个更好的阶段

已经有了大量的链上的基础设施和应用所以我觉得未来越来越清晰了ok

谢谢谢谢神鱼分享了一些这个最早期的这个状态包括他提到这个和平饭店的qq群

大家有兴趣啊可以去这个百度上搜索一下啊或者谷歌

啊关于这个早期的这个

中国的这个比特币的世界啊是社区是怎么形成的其实有非常多有意思的事情啊

也有很多视频的采访包括大家熟悉的

宝二爷啊这个

行长啊这个啊吴季寒啊等等都可以在这个这个搜索引擎中自己看到非常多的信息

对我下一个想跟神鱼聊一聊的就是其实

这个行业我感觉2017年啊是一个终身带就是在2017年因为迎来了这个行业的

最大的一个牛市其实现在的很多的知名的人士都是在那个时候变得更加的耀眼比如像

啊现在这几天比较火的这个孙哥是吧然后比如像c z啊赵长鹏包括

呃很多的这个

中国相关的一些供链啊不管是什么neo啊还是量子链啊这个

等等就你怎么但是但是也有很多人回过头来觉得这个2017年

更多的只是充满着ico的各种乱象

对从这个我们现在回顾看2017年你觉得

那个时代或者说那个时候的行业的意义

呃有什么值得想回顾啊或者值得分享的东西或者你印象比较深刻的

呃2017年这一波ico的狂潮呢其实

现在今天回看我觉得有一个非常重大的意义其实是可能大家被大家忽略的

虽然在2017年有了非常非常多的ico的泡沫涌现了很多的可能投机啊

然后这种甚至直接的是诈骗类的项目

但是我们站到2020年2021年来回看的话其实他给以太坊的生态上带来了

大量的链上的资产品类

这是这也是我们过去两年defi能够爆发的一个直接推动因素因为资产足够的多了

有不完不完全的数据统计啊可能在2017年的一年里面就有二三十万个ico项目的诞生

那如果我们类比ico和ipo来看那在现实世界里面

不可想象有这么大量的ipo的发生甚至可能十年都不可能有这么大的数量级

所以虽然可能在呃在当时的过程中有大量的泡沫

大量的诈骗的事件层出不穷但是经过一轮行业周期的沉淀好的项目好的协议

依然存活下来了并且在持续的不断的迭代在这个废墟中又涌现出来了新的创新

所以整个行业基本上就是这样一轮又一轮的泡沫泡沫破灭重建的过程

它典型的是说底层是有一套

基础设施以区块链底层的性能和一些一些底层的攻略的基础设施

和应用层两个场景去互相驱动的一个过程

那一旦有了大量的泡沫然后带来了大量的应用

这种爆发就会倒逼底层的区块链的基础设施去完善自己

但是到了一个泡沫的顶点发现这个区块链底层的基础设施是不能去支撑整个

应用的进步的发展这时候泡沫就破灭了

然后就进入了一个沉淀期这时候就有非常多的各种各样的

即刻他们就会去迭代底层的基础设施去为未来下一次的爆发做好基础设施的铺垫

所以这也是这个行业这么快持续不断迭代的内在的驱动因素

所以我觉得泡沫是好事情

只是说在泡沫中的每一个的个体我们需要保持一定的冷静

需要做符合逻辑的事情但长远来看从行业周期来看这是个好事情

对神鱼这个确实也是非常有道理

对就是因为我们可能普通的人可能会觉得2017年是一个充满着泡沫

而且可能整个行业ICO非常混乱的一个状态

但是现在来看其实很多在2020年或者2021年涌现的项目

他们其实也是17年18年开始做的

不管是这个Uniswap还是现在的一些更多的DeFi的相关的协议

以及一些供链像波卡或者是Firecoin

他们也都是在那个时候开始做

因为它本身的这种协议层面

它可能并不像一些中心化的机构那么高效

它可能还是需要一段的时间来把这个事情才能够做得更好

所以其实很多在这个2017年他们投了很多项目

但是到了2020年2021年出现的千倍万倍比

他们回头一看会发现

原来其实是在17 18年投的一些所谓的优质项目

对所以您刚才也提到了DeFi

对就是2020年2020年2021年一个最重要的事情

可能就是这个DeFi的兴起

对

包括您自己这个 当时也是这个最有名的一个这个矿工 这个DeFi矿工 从一个实体的矿工到了一个DeFi的矿工

您具体这个接触 或者说对DeFi产生浓厚兴趣的时候 大概是一个什么阶段

然后包括也经过了这么DeFi之下 经过了几年的沉淀 对你对这个DeFi这个行业有一些什么新的看法了没有

OK 其实我个人接触DeFi 其实是在2018年2019年的那一个牛市的末尾 或者熊市的开始

其实开始有了一些DeFi协议的涌现 在UIS上 在以太坊上有一些早期的协议

只是说当时的DeFi没有 没能大规模的用起来 缺乏一些驱动的因素

所以到了 所以我在上面花了一些时间 然后花了一些资产 在上面探索 发现亏了都差不多了

所以后来就没有继续了 到了2020年 2021年开始 然后整个DeFi明显出现了一个拐点

出现了以康胖为代表的流动性激励的一个新的热潮

所以当时这个拐点来临的时候 我有一个比较好的习惯 是说我会在

呃 行业可能各种试错的前沿方向上面 我愿意去花一些时间 精力和一些成本去试错

然后去建立一个观察 然后同时又给他定一个指标 如果这个指标拐点到来的时候

我就再去花点时间和精力和成本去调进一步的研究 到了2020年21年的时候

我发现开始出现了一些DeFi数据上的改良和用户的涌入的时候 我又花了点时间

我当时去看了一两三天之后 我发现这个市场完全不一样了

他好像自发的成长起来了 后来我就开始投入了大量的精力

然后放了大量的资产进去 在DeFi里面做一系列的操作

包括呼吁身边的朋友 然后群里的人 大家来看一看

DeFi其实已经发生了一个质变 所以也比较幸运吧

抓住了DeFi的这一波 做好了一个矿工的一个过渡吧

从原本的物理世界的manner变成了链上DeFi的一个玩家

这样的话可能对现实世界的制约就更少一点了

因为过去很长一段时间都苦哈哈的找电 挖矿

跟各种各样的物理世界打交道

然后这样其实对于一个偏技术向的同学 其实压力还是蛮大的

发现DeFi之后发现 OK 我们在整个行业积累了非常多的早期的技术积累

有非常多的优势 然后我们对私药的管理 对底层安全的极致的追求

在这个链上的世界里面更好的能发挥出来

所以我们后面一路就在DeFi里面去build各种各样的

我们内部用的一些基础设施 然后去完善我们的这些效率

那近期我们也会把这些我们内部的一些自用的工具

逐步的开放出来给大家来使用 也欢迎大家来体验

好的 我们继续沿着历史往下说

2020年是一个DeFi之下 然后到了2021年

其实又进入到了一个NFT爆发的一个时代

围绕着NFT 还有各种小图片 还有游戏

其实某种程度上 现在它的势头应该更胜过于DeFi

因为DeFi可能面临一些监管 或者是各方面的因素

尤其是一些Terror这种爆雷以后会存在一些问题

但是NFT它似乎跟主流的结合更加的清晰

对 其实很有意思 这其实是一个圈内人没有想到的

我记得这个Vitalik说过 他觉得他最让他惊讶的

就是这个NFT的爆发 他其实根本没有想到说

NFT会有一个这么大的爆发 尤其是完成了

对于这种数字收藏品的确权交易流转

很切实的改变了这样的一个刚需的需求

神宇他其实有一个特点 就是他什么都爱玩

基本没有他不玩的 NFT他也是玩的非常多

从现在的角度来看 你觉得NFT的前景是不是

怎么说 一个非常好的前景 而且也很多创业者

我觉得在场可能也有不少 对于这种NFT的创业者

你有一些什么自己的想法 或者建议没有

NFT虽然我个人玩的比较多 亏的也比较多

所以基本上在NFT界 我是一个著名的繁殖

在NFT市场 我觉得其实是一个很有趣

很好玩的一个市场 他有一个非常大的特点

是说他相对的很分散化 和区块链的其他的不太一样

像DeFi他头部效应非常的强

然后他他链上都是承载着高价值的交易

因为区块链的空间毕竟很宝贵

但NFT市场不太一样的点是说 OK

有大量的割裂的社群 每个社群有自己原生的特质和文化特征

所以在这样的一个社群里面 你很容易找到身份认同感

所以在2021年 NFT刚开始涌现的时候

我们有很多朋友半夜三五点睡不着觉

很兴奋打电话跟我们聊NFT

这个协议多么多么的好 多么多么的切中人心

然后有什么样的文化价值 一聊就聊一个通宵

所以我们看到了有非常多的这样的

能够切合各种各样文化群体的

大家的一些内心的情感需求的一些价值开始涌现

包括一些社交资本等价值

所以从这个维度来讲 NFT它的成功和存在

是有一定的价值和意义的

另外一个角度来讲 其实对广大的年轻的小朋友来讲

其实NFT整个领域相对Crypto的世界里面

它的进入的门槛很低

它不需要懂很多密码学的知识

它也不需要有大量的资金

它只要有一定的艺术鉴赏能力

是有一定的人文精神

其实大家看到的是不一样的一些场景和实验

所以让NFT世界里面尤其是00后进来了非常多的人

并且NFT在早期阶段因为大家为了做IP

为了打造一个社群

所以基本上的进入的成本也都是非常的低廉的

我们也看到了NFT市场里面

充斥着大量的这种一夜暴富的这种故事

所以也带来了很多的这种新鲜的血液

所以现在站在现在来看

NFT可能经历了NFT的周期可能很短

我们感觉可能也就是一个三个月左右的情绪周期

可能也经历了三四轮的一个快速的周期

那么站在今天相对一个熊市的市场来看

NFT其实它跟很多的IP流量结合

其实让整个Crypto世界变得更加的多元

所以这一点特别特别重要

因为未来还是属于年轻一代的

所以在这样的一个条件之下

NFT也带来了很多的行业的新生的力量

所以我个人虽然可能亏了很多钱

但是个人依然非常坚定的看好整个NFT市场

对Crypto的未来带来的一些新鲜血液

另外是说我们可以看到

现实世界里面有很多资产

它都是非标准化的

这些资产其实在链上很难通过标准化的通证来表达

那么NFT是一个很好的资产品类

它可以承载很多一些现实世界的资产

从这个角度切入的话

我觉得未来NFT市场还大有可为

所以它可能不单单是我们现在看到的PFP

这些收藏价值

它可能还有很多跟现实世界结合的一些价值

但是背后可能还需要我们更多的努力

去推动行业跟现实世界更好的结合

这个路可能会漫长一点

但是我觉得应该在不遥远的未来会成为现实

OK

好的

沈渔要不要喝点水

这个一直在

对

我们采访时间还有点长

对

下一个就是我们一直其实是在沿着历史往前聊

就来到了2022年

其实2022年是Crypto行业也是一个非常惨痛的一年

甚至可能是历史上爆雷金额最大的一年

对吧

可能是从一开始的

中国的一些小交易所

什么虎服

AEX

然后到TERA

引起一个巨大的震动

随后

TERA又引爆了

Serial arrows

对

曾经在Crypto的风险投资里面排名最好的一个资本

三件资本

随后

三件资本又开始继续引爆

三件资本又引爆了行业最大的一个集团巨头DCG

大家才发现原来这些外表非常光鲜的巨头是这么的脆弱

本来当大家以为这个事已经快结束的时候

下半年最凶猛的来了

全世界行业的顶端最金光闪闪

所有给政客捐款

给宗教领袖捐款

给利他主义

每天出席各种非常优秀的这样的一些会议的

SAM

SPF

FTX的创始人

他竟然挪用了用户的资产

而且资不抵债

而且非常荒唐的进行了大量的很荒谬的交易

随着一篇简单的新闻报道

赵长鹏的一条推特

几百亿的帝国竟然就可以在一夕之间崩塌

所以2022年在加密货币的历史上

我觉得一定是一个非常痛苦

但又非常刺激

但也给大家留下非常多教训的一年

包括矿权也有很多

大家耳熟能详的公司

最后倒闭

甚至有很多问题都没有处理

神鱼就是回顾

当然这个神鱼

你们在2022年其实还是比较稳健

就是从你的角度来看

或者这种一种回顾来看

你觉得对这个行业有什么

你印象是最深刻的

2022年这些教训里面

或者说你觉得这个行业

有没有必要吸取一些什么样的教训

OK

刚才主持人讲了这么多

2020年的确非常的残酷

身边有很多老朋友

因为各种各样的事情

都可能不能一起吃饭了

过去这一年

行业整体的波动是非常的大的

然后层出不穷的各种各样的事故

但是我们回头来看

其实跟比特币诞生至今

十多年的历史上

各种各样的

类似蒙特利尔

可能更早之前

大家不知道的一些安全事故

其实都是底层逻辑都是一样的

其实本质都是人性的问题

虽然我们行业广为诟病的是

波动率高

是我们充满着各种各样的不确定性

但是过去两年多的时间

整个行业的确定性变得非常非常的强

因为我们来了大量的

带着非常光鲜绿丽的朋友

来了非常多的华尔街的资本

然后整个行业开始了

有了原生的应用

有了DeFi

有了MT

有了GameFi

再也不是空气了

在这样的一片兮兮向荣之中

突然栽了一个大坑

泡沫破灭了

很多事情幻灭了

其实这个角度来看

我们在很久之前

其实也经历了一轮又一轮这样的事情

底层还是说

大家对自身

对个人

对公司越来越膨胀了

到了一定的心理状态之后

很多决策已经不再那么理性了

大家去坚信

这个价格可能不会跌破一个区间

我们的杠杆可以用的更高

收益可能更丰

我觉得可能偏离了整个区块链的初衷

所以在这一点上来看

其实区块链给了我们很多自由

让我们有了这样的技术手段和工具

能够提供一个更加透明

开放的一个世界

但是反倒因为这些权力

最终被我们终端的这些用户

让渡给了这些中心化的

这些机构的所有者

虽然它表面看起来非常的光鲜明亮

参与各种各样的政治事件

但在这个过程中

我们其实每一个用户

没有去掌握好这个行业底层

赋予我们的技术能力

把我们最强的一把剑

让渡给了一个第三方来替我们来保管

这是个行业目前面临的一个非常大的挑战

然后帮我们去管理这把K的人

我们委托的这个人

他很难去抵抗他内心的贪婪

换位思考

作为这样的一个管理者

他很轻松动用了大家的K

很多人也不知道的情况之下

行业波动率又很高

有非常多的信息优势的情况下

很容易赚一笔大钱

当行业处在一个急速扩张

大家信心膨胀的状态中

或多或少就有一定的概率的人

抵抗不了内心这样的诱惑

偷偷地用来这把K

那动用一次可能盈利了

他的信息就进一步膨胀

就用的越来越多

那最终状态可能一个极端的黑天鹅

一个突发事故

导致了资产就灰飞烟灭

所以我觉得2022年其实是屈美的一年

就是我们不再

我们得到了一个非常重要的教训是说

大家一定要深刻地意识到

是公司都可以会破产

我们能相信的是什么

我们不应该相信人性

我们应该相信数学是吧

我们应该相信这底层的技术原理

所以大家一定是要如何的去掌握好区块链

赋予我们在新时代下的这些技术手段

去掌握好自己手里的这把K

所以围绕这一点

其实行业在经历了去年一整年的

这些极端事情之后呢

大家也在探讨

也在积极地去思考

未来我们怎么能够让每一个人

更好的去使用区块链的技术

增加整个行业的透明度

去规避那些让逆人性的事情

所以我们现在看到了

说GMPC多方计算技术之下的

这种无私要的技术正在快速发展

我相信在不远的未来

每一个人就可以开箱即用的拥有一个K

但是你的对手方

你的你提供服务的方

他们可能只拥有帮助你管理的一把K

所有的交易的过程

你的资产不会在任何一方手里

都是公开透明可见的

能够充分地使用到区块链的底层的特性和数学

这样作为基础保障

我觉得这个未来

虽然我们可能在22年

得到了非常惨痛的教训

基本上行业百分之四五十的中心化的机构

因为各种各样的原因

灰飞烟灭受到波及

但是这也让我们在去中心化一侧的决心

走得更加的坚决

我们能够明显地感觉行业基本达成共识

我们在GMPC的无私要解决方案

在去中心化透明度层面

明显地往上走了一大截

这些我们可能看到一个比较明显的例子

这些大型的对冲基金

Macmaker这些团队都开始主动要求

要使用NPC技术来协助管理他们的资产

而不说把资产紧紧地

非常放心地放在中心化的交易所

另外我们也看到了

链上的这种原生就是去中心化的

透明的DEX他们的交易量

包括衍生品的交易量

也在快速的飞速的发展

所以从这个维度来讲

我觉得2020年我们得到了一个很大的教训

但是行业的从业者这帮加密极客

已经take了这教训

我们正在走出这样的一个低谷

他在未来的两到五年的时间里面

势必给我们带来更多的这样的技术手段

让我们拥有更多的自由

对我也补充一点

就确实2022年非常惨痛

但是行业也有了很多改进

比如像中心化的交易所

他也开始有了这个叫

链上的储备证明POR

这个虽然大家有很多诟病

他也有很多问题

但是这还是一个非常重要的事情

我就简单来说

比如对于如果有一些正在看我们视频

或者在场的小白用户来说

如果你的币所在的交易所

是没有公布他的POR证明的

请果断的把你的这个币取出

这个如果一个交易所连POR证明都不敢公布的话

那么他为什么要做交易所呢

那么他又把用户的钱挪用到哪去了呢

这是一个已经变成了一个非常简单的选择

对这个

然后我们在下一个问题就是

可以简单的展望一下未来

就是这个明年呢

是比特币的下一次的减半

这个一般伴随这个减半呢

行情往往也会有一些变动

当然现在也有很多人认为这个比特币的价格

他跟这个美联储啊

可能会有更深的关系

而不再受这个比特币减半的周期影响

这个我们就请神鱼

这个可能很多人也问过

老调重谈的来谈一谈你对这个明年比特币减半

包括这个减半可能对价格呀

或者对行情带来的一个影响

你个人的判断啊

不作为这个财务投资建议

OK我首先声明啊

本人不太适合二级投资

所以我从我进入这个行业前三个月

我就发现了这件事情

所以我才走上了挖矿的这条道路

要不我就炒币去了啊

所以以下不作为投资建议

从加密货币的历史来看

其实从2017年以后

整个加密货币其实跟宏观的关联度就非常的高的

尤其啊

这个今年这个加息以来

这个关联度就更高一些了

虽然可能我们有一些

有一些可能行业原生的一些因素

带来的一些事件驱动的结果

那从今年或者短期的这个角度来看

我觉得有两个大的核心驱动因素

一个因素肯定是宏观了

因为取决于我们是个小池塘

取决于我们池塘的水位

有一个因素是宏观是否会放水

那目前来看这个宏观可能会改善

所以再加上可能三月份

大量的美国的银行的爆雷

让大家把比特币又纷纷当成了避险资产

从这个角度来看

可能宏观在改善这个因素

我觉得可能起码是个中性的因素

第二个因素来看

是行业内生的一些驱动因素

那么减半虽然可能是说从经济学上角度来讲

它其实目前起不了太大的作用

但是它是一个很好的叙事逻辑

并且大家也都相信

所以在这样的一个叙事框架里面

我觉得大概率今年Q4到明年应该还有一轮减半行情

那我们要简单计算一点的

又是现在世界上主流的矿机

还是S19这样的矿机

他们的挖矿的明年如果减半之后呢

这个币价稳不到三万美金以上

这些矿机都得关机

在历史上很少发生这样的情况

即使发生了也是很短暂的

所以我个人觉得对Q4到明年的减半行情

还是我觉得值得期待的

了解

咱们这个对话也快到尾声了

最后我们知道神鱼

他是COBO的创始人

然后也请神鱼介绍一下COBO

我们也知道COBO它主要是做托管业务

包括托管业务其实是一个投入非常大的

包括它是一个比较长期的业务

就想请神鱼介绍一下

COBO的一个未来的发展方向

以及你们会不会如何与一些西方的

现在主流的托管机构去进行一些竞争

怎么能够变得更有优势

其实这个行业我们回头

我们刚才聊了非常多的行业

早期一路发展过来

其实我们能看到这个行业

目前核心有两大问题

第一大问题就是TPS问题

性能问题我们刚才也提到

每一轮的行业的发展都是说

应用驱动最后带来基础是跟不上

然后泡沫破灭

然后继续去迭代基础设施

核心就是TPS的问题

第二个大的问题其实是说

我们给终端用户提供的一套解决方案

这套解决方案能够让用户非常简单

同时又能保证用户的安全性

在情况之下

让用户接入整个区块链

让用户不会把自己掌握K的权利

让渡给第三方

所以基本上这是行业两个大的问题

我们目前能看到第一个问题

性能问题可能在不远的未来应该能解决

基本上行业经过了七八年的探索

基本上围绕着二层网络

三层网络这样的方式去解决

那么接下来的问题

其实就是底层思想安全的问题

那么Kobo我们就是这样的一家公司

我们从2017年开始发现

整个加密世界出现了层出不穷的安全事故

大家开始越来越多跟链交互了

这样就让很多无助的人

不掌握技术的人暴露在了这些黑客的前面

所以我们试图去构建一套

围绕着底层资产安全次要

和及其次要风险管理的一套解决方案

所以也就有了Kobo

所以我们基本上的底层逻辑是说

围绕着行业的不同阶段

找到它的核心的应用场景

在这个应用场景之下

我们提供一套的围绕着次要的解决方案

那么第一个阶段

其实我们是以比特币为代表的这样的阶段

大家的核心区块链的应用

其实就是收发存储转移

然后再加上交易比特币这样的数字资产

所以在这个阶段

我们做了一叫做Kobo Kase

一套纯中心化的托管解决方案

把整个区块链的钱包

作为一个SaaS网产品

做成walletized service

让这些有收发存储转账用户的需求

直接调我们的API就可以使用

所以非常适合现在的香港的状态

就大量的合规基金

有大量的新兴的交易所

他们需要找到一个合规安全

易用外霸的体验的一套产品

这就是我们的Kobo Kase和walletized service的这套服务

那么到了第二个阶段

我们发现OK

大家开始有跟链有大量的交互

这时候你就需要有链上交互能力

和合约状态管理能力

这时候就把我们在DeFi领域积累的

大量的这样的能力

我们把它封装成了Kobo Argos这样的产品

它的核心是底层是链上的多签

它有非常多的跟各种各样区块链上

DeFi协议打交互的能力

同时又有一系列的风险管理的模块

和一些自动化的程序

它更好的去支持这个链上

7×24小时的响应

处理一些极端情况

那么到了第三个阶段

也就是后FTS时代

大家开始越来越意识到

掌握K的重要性

所以很多的大型的机构开始说

我们能不能有一个透明的

单独隔离的资产池

然后所有的资产需要我来授权同意

才能使用

所以我们在最早期的中心化通关机制上

把底层的技术迭代到了MPC的技术

就是用户中端的用户

他掌握一把K

我们来掌握一把K

来协助来管理他的资产

我们这把K主要用来做风控

那么还有一把K

用来冷存储放在一个第三方

可能是安全公司

也可能是一个保险公司来管理

后来很多的公司发现

这套方案非常的好

他们就在我们这套方案的基础之上

去迭代

面向他们的中端用户提供产品

那中端用户在他们那边

只掌握账号密码的情况之下

就可以很快地进入区块链

有大量的游戏类的公司

他们其实就用我们的解决方案

让他们的中端用户

用Y8的体验

进入到整个Crypt的世界

当中端用户成长到一定程度

可能他在链上有了高价的资产

比如说有个很稀缺的NFT

在游戏中突然获得了

他这时候就可以让他的账号升级

把第三把K授予这个用户

这时候这个用户

他已经有了意愿动机去学习

和理解一些基础的概念

他这时候他拿到他的这把K之后

他就能更好地去使用

基本上我们就是围绕着这三个阶段

去提供了三款不同的产品

纯中心化的基于加密机的

托管解决方案

面向链上智能合约的

多签的解决方案

基于去中心化的

血管的NPC的解决方案

所以基本上是三个方案

针对不同的场景

核心还是解决大家的

底层的资产安全和私钥

以及围绕私钥上面

使用的各种场景里面的风险的管理

我们也期望是说

通过我们这样的公司的努力和迭代

能够让更多的用户

能够更安全

易用

放心地涌入整个区块链

在我们链上探索非常精彩的

这样的链上生态

先好

那谢谢大家

大家如果有漏掉一些内容

可以在官网进行回放的观看

好谢谢大家

我们就结束了

谢谢谢谢两位的精彩分享

谢谢

女士们先生们

比特币系统技术发展计划

香港百岁音乐节

2023年

已经结束了

然而

还有更多精彩的计划

专门计划和其他计划

将在明天早上9点开始

所以请检查

计划文件

或在每个区域的出入口

签下来

来观看详细的计划

此外

在赞助商的标志上

有一个标志区域

标志上的计划

赞助商的标志

以及所有的合作伙伴

PATRONUM

GOAT

第一第二和第三级赞助商

所以在整个音乐节

您可以从各个区域

收集标志

通过展览楼

您可以与标志区域

交流

如果标志区域

有完整的标志

您可以前往

赞助商的资料桌

然后

您可以颁送

相应的礼物

并且

您可以颁送

相应的礼物

每位观众

每天可以收集一份

每份礼物

限量为500份

并且会在

第一来第一回

发送

再一次

我们想要感谢

我们的标志赞助商

OKX和ZA银行

官方支持组织

InvestHK

FintechHK

Hong Kong Science & Technology Park

和Cyberport

还有

我们的PATRONUM赞助商

NEO Filecoin

NEO

Opsite

和Questend

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Avalanche

Leocene

Certic

DGFT

Dodo

DotBit

Foble

Map Protocol

Meta48

Metalfa

Mixed Marble

Neopets

Nervous

Pedal

Qtum

SafeHuron

SafePow

Zaber

WaterDrip

ZKP Lab

还有超过100位伙伴

支持了

HK Welfare Festival 2023

感谢您的支持

感谢您的参与

我们期待明天早上9点见到您

谢谢