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What’s next for the major mining platform? Interview with ViaBTC CEO Haipo Yang — TradingView News

Published

8 months ago

7 June, 2024

Here's What Happened in the Cryptocurrency Industry Today — TradingView News

In May 2016, Haipo Yang single-handedly completed the code for the ViaBTC pool, marking the official establishment of ViaBTC. On June 5 of the same year, ViaBTC’s BTC mining pool mined its first block, starting its history from that moment. This year marks ViaBTC’s eighth anniversary, and to commemorate this milestone, ViaBTC launched the carnival-themed “8 As One” event in early June.

We recently caught up with ViaBTC founder and CEO Haipo Yang, asking him to share his entrepreneurial journey over the past eight years and his vision for the future of the cryptocurrency market.

U.Today: First of all, congratulations to ViaBTC for achieving such success over the past eight years. Could you tell us what motivated you to enter the blockchain industry?

Haipo Yang: I should be considered one of the first people to get involved in cryptocurrencies. In 2011, the concept of Bitcoin was just beginning to spread across the Internet. I was still in college at the time, very interested in computers and the Internet, and had taught myself many computer-related courses. I admired its geek and open source spirit. Initially, like most people, I thought the vision of Bitcoin was too far-fetched, but once I started combining my thoughts on economics and social sciences, I started to have a deeper understanding of the value of Bitcoin. Then, in 2014, I entered the blockchain industry and participated in the development of mining platforms, mining pools, cloud hashrates, wallets and public chains.

I believe that maintaining a curious mindset for exploration, cultivating the habit of long-term in-depth reading, and establishing a feedback mechanism for correcting errors is very important. This is also the key to my early recognition of Bitcoin and entry into the blockchain industry. Although I didn’t expect Bitcoin to develop so quickly at the beginning of my entrepreneurial activity, it has now surpassed Meta with a market value of about $1.4 trillion, ranking 9th on the global asset market value list . At the time, I still simply believed that it had vast growth potential in the future.

U.Today: ViaBTC has secured a leadership position in the mining pool industry. Can you share some of the challenges you encountered while founding ViaBTC? What motivated you to keep going?

Haipo Yang: Entrepreneurship is a path full of unknowns and challenges, especially in the highly competitive cryptocurrency mining industry. Since we founded ViaBTC, we have encountered many difficulties and challenges, but fortunately we have overcome them one after another.

Building the underlying technical architecture is especially important for a mining pool. Ensuring the stability and security of the mining pool is the highest priority and greatest challenge; even the smallest mistake can cause losses to miners, leaving no room for any negligence. As a programmer, I set high standards for technical implementation and strictly supervised the execution process. The first technical team of ViaBTC was personally recruited and created by me and played a crucial role in ensuring the stable operation of the ViaBTC pool.

We were not the first mining pool to go live. When we entered this sector the market was already taking shape. How to establish a competitive advantage in an already highly competitive market, provide quality services to attract miners to join us and obtain a basis for sustainable development were the problems we had to think about and solve at the beginning of our venture. We have always insisted on starting from the interests of miners, continuously optimizing technology, providing quality services and more stable returns to win the trust of miners.

I have always believed that blockchain technology will become a transformative force in changing the world. I also know that only with perseverance is it possible to gain a foothold in this rapidly developing industry. Starting a business is hard and persevering is even harder. Only with a constant commitment to our goals and a passion for the cryptocurrency sector can we continue on this path and one day realize our vision: to be the infrastructure of the Blockchain world.

U.Today: This year marks the eighth anniversary of ViaBTC. The number 8 is seen as the beginning of a new cycle. What is your vision or plan for the future development of the mining pool?

Haipo Yang: ViaBTC has always been user-centric, and we will continue to optimize our products and improve our services in the future. Our goal is to make it easier and more efficient for miners to use our platform, while strengthening customer support to ensure they receive timely help and can easily resolve any issues. These are key aspects of our future plans.

Listening to our users is a fundamental strategy to optimize our products and services. Moving forward, we will continue to enhance our interaction and collaboration with the global mining community. Miners are our most important partners and their needs and feedback are critical to us. By organizing regular community events, AMAs and collecting feedback, we will continuously improve our products and services to meet the real needs of miners.

In the past, we have introduced a range of innovative products and services to the industry, such as the PPS+ payment method and the BTC transaction accelerator. Looking to the future, our team will continue to follow market trends and innovate. I firmly believe that maintaining our original mission, respecting the market and continuous innovation are fundamental to remaining at the forefront of the industry.

U.Today: This year, major events such as the approval of the BTC spot ETF and the fourth halving occurred one after another. How do you see the current development trends in the global cryptocurrency mining industry?

Haipo Yang: In fact, the crypto mining industry is the production segment of the entire cryptocurrency market. This part is indispensable but is also influenced by the general trends of the cryptocurrency market. However, as the industry matures, the likelihood of “mining disasters” that occurred in past cycles being repeated in this cycle is very low. At the same time, due to the growing participation of users in the entire cryptocurrency market, it is now influenced more significantly by the regulatory policies of various countries around the world.

Energy and compliance are the two key points that mining development cannot avoid. In the global migration path of hashrate, North America is the first destination, followed by Russia, Central Asia, the Middle East and Southeast Asia. These locations can attract large numbers of miners due to their market compliance advantages or low electricity costs.

After the halving, mining costs for all Bitcoin miners increased. The current price of Bitcoin has not yet brought mining yields back to pre-halving levels. In the future, will miners move to third world countries in search of cheaper electricity to reduce mining costs? I think small scale miners could give it a try, although electricity costs in these countries could be cheaper, imperfect systems make many things unpredictable. Large-scale miners are likely to prioritize regions that are relatively stable politically.

Editor’s Note: A mining disaster occurs when mining costs (primarily mining facilities and electricity) exceed the current price of coins, making it unprofitable to continue mining, leading large numbers of miners to shut down their operations.

U.Today: Some argue that those who prefer long-term investments align well with the mining process. What is your opinion on this?

Haipo Yang: I think there are many similarities between long-term investors and miners. Mining is fundamentally a long-term investment that requires a significant commitment of time, money and resources. Miners make significant investments in mining equipment, electricity costs, and facility maintenance, and also face the risks of Bitcoin price volatility and changes in mining difficulties.

Long-term investors focus more on future returns and potential rather than short-term market fluctuations. Likewise, miners need to have this long-term perspective. They need to consider not only current profits but also the market outlook for the next few years. The price of Bitcoin and the block reward halving cycle are important factors that influence miners’ earnings, but historical data shows that the overall value of Bitcoin tends to increase over time.

In both mining and other investments, long-term investors must have confidence in the future and be able to tolerate short-term fluctuations and uncertainties. ViaBTC is committed to offering miners professional, efficient, secure and stable mining services, helping them achieve long-term value in this industry full of opportunities and challenges.

U.Today: What steps has ViaBTC taken to build its ecosystem?

Haipo Yang: The blockchain industry we operate in covers multiple segments, including mining equipment manufacturers, exchanges, wallets, and upstream and downstream applications, and is still thriving. Mining pool, our first business and product launched, has operated stably to date, laying the foundation for our subsequent development.

Looking to the future, we are still in a growth market. More and more users and institutions are entering and participating in this market, and given its cyclical nature, this growth process is pulsating rather than linear. In the next 5-10 years, blockchain and cryptocurrencies will further develop and expand, occupying an important position in our economic and social activities.

To break down barriers to entry and build a comprehensive ecosystem around cryptocurrency issuance, circulation application, value discovery, and support of the underlying blockchain technology for a wide range of potential users, we started with ViaBTC Pool and We gradually launched core businesses such as CoinEx Exchange, CoinEx Wallet, CSC (CoinEx Smart Chain) and ViaBTC Capital. We have become one of the most comprehensively structured companies in the blockchain industry. With the mission “Via Blockchain, making the world a better place”, we hope that ViaBTC can continue to contribute to the development of the blockchain industry as it grows.

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News

Ether Drops Further After ETF Launch

Published

6 months ago

23 July, 2024

Blocksight Staff

Bitcoin Surpasses $66,000 Thanks to Strong ETF Flows

Key points

Spot ether ETFs began trading in the U.S. today, with the funds initially having more than $10 billion in collective assets under management.
Analysts expect the launch of spot ether ETFs to have a net negative impact on the underlying price of ether in the near term, due to expected outflows from the pre-existing Grayscale Ethereum Trust.
Spot Bitcoin ETFs continue to see strong inflows, with BlackRock’s IBIT alone seeing more than $500 million in inflows on Monday.
Franklin Templeton, a spot ETF issuer on bitcoin and ether, has invested in a project that intends to bring Ethereum technology to Bitcoin.

Nine-point ether exchange-traded funds (ETFs)) started trading on the stock market on Tuesday, but all the optimism ahead of their approval did not translate into gains for the cryptocurrency markets.

Ether (ETH), the native cryptocurrency of the Ethereum blockchain, dropped less than 1% around the $3,400 level as of 1:30 PM ET, while Bitcoin (BTC) fell more than 2% to around $66,000.

Ether ETFs’ Debut Isn’t as Flashy as Bitcoin ETFs’

Spot ether ETFs began trading at just over $10 billion assets under management (AUM)), according to Bloomberg Intelligence analyst James Seyffart, most of that money is in the current Grayscale Ethereum Trust (ETHE) which has now been converted into an ETF.

“In the long term, Grayscale will simultaneously have the highest and lowest fees in the market. The asset manager’s decision to keep its ETHE fee at 2.5% could lead to outflows from the fund,” Kaiko Research said in a note on Monday.

Outflows from ETHE, if they occur, would be similar to those faced by Grayscale’s Bitcoin Trust (GBTC) after spot bitcoin ETFs began trading in January of this year, most likely due to high fees for the two original funds. Grayscale’s existing fund charges 2.5% fees, while a new “mini” ether ETF will charge 0.15% and commissions for other ETFs are set at 0.25% or less.

Such outflows could impact the price of ether and market sentiment.

“There could be a pullback shortly after the launch of Ethereum spot ETFs, i.e. outflows from Grayscale Ether Trust could dampen market sentiment in the short term,” Jupiter Zheng, a partner at Hashkey Capital’s liquid fund, told The Block.

But Grayscale remains optimistic.

“Compared to the splashy debut of spot bitcoin ETPs in January, the launch of ethereum ETPs has been relatively muted,” said Zach Pandl, Grayscale’s head of research, adding that investors may be “undervaluing” ether ETFs that are “coming to the U.S. market in tandem with a shift in U.S. cryptocurrency policy and the adoption of tokenization by major financial institutions.”

Bitcoin ETF Inflows Continue to Rise

As for bitcoin, there is clearly no lack of demand for spot ETFs, such as BlackRock’s iShares Bitcoin Trust (IBITS) recorded its sixth-largest day of inflows in its short history on Monday, at $526.7 million, according to data from Farside Investors. Daily inflows for the overall spot bitcoin ETF market also hit their highest level since June 5.

In particular, asset manager Franklin Templeton, which has issued both bitcoin and ether ETFs, appears to have decided to cover its back when it comes to Ethereum by investing in Bitlayer, a way to implement Ethereum technology on a second-layer Bitcoin network, according to CoinDesk.

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News

Spot Ether ETFs Start Trading Today: Here’s What You Need to Know

Published

6 months ago

23 July, 2024

Blocksight Staff

Spot Ether ETFs Start Trading Today: Here's What You Need to Know

Key points

Spot ether ETFs will begin trading on U.S. exchanges on Tuesday. Nine ETFs will trade on Cboe BZX, Nasdaq and NYSE Arca.
Ether ETFs offer investors exposure to the price of their underlying assets.
Commissions on these new ETFs generally range from 0.15% to 0.25%.
These ETFs do not provide exposure to Ethereum staking.

The U.S. Securities and Exchange Commission (SEC) has officially approved nine ether spots (ETH)exchange-traded funds (ETFs) for trading on U.S. exchanges. Trading for these new cryptocurrency investment vehicles begins today. Here’s everything you need to know.

What new ether ETFs are starting to trade today?

Spot ether ETFs starting trading today can be found at Quotation, NYSE Arkand Cboe BZX. Here’s a breakdown of each ETF you can find on these three exchanges, along with the fund tickers:

Cboe BZX will list the Invesco Galaxy Ethereum ETF (QETH), the 21Shares Core Ethereum ETF (CETH), the Fidelity Ethereum Fund (FETH), the Franklin Ethereum ETF (EZET) and the VanEck Ethereum ETF (ETHV).

Nasdaq will have the iShares Ethereum Trust ETF (ETHA) created by BlackRock, which also operates the largest spot bitcoin ETF under the ticker IBIT.

NYSE Arca will list the Bitwise Ethereum ETF (ETHW) and the Grayscale Ethereum Trust (ETHE). The Grayscale Ethereum Mini Trust (ETH), which will begin trading on the same exchange.

How does an ether ETF work?

Spot ether ETFs are intended to offer exposure to the price of ether held by the funds. Ether is the underlying cryptocurrency of the Ethereal network, the second largest crypto network by market capitalization.

ETF buyers are buying shares of funds that hold ether on behalf of their shareholders. Different spot ether ETFs use different data sources when it comes to setting the price of ether. Grayscale Ethereum Trust, for example, uses the CoinDesk Ether Price Index.

None of the ETFs launching today include pointed etherwhich represents a potential opportunity cost associated with choosing an ETF over other options such as self-custody or a traditional cryptocurrency exchange.

Ether staking currently has an annual return of 3.32%, according to the Compass Staking Yield Reference Index Ethereum. However, it is possible that the SEC will eventually approve Ether staking held by ETFs.

How can I trade Ether ETFs?

ETFs can simplify the trading process for investors. In the case of cryptocurrencies, instead of taking full custody of the ether and taking care of your own private keysSpot ether ETFs allow investors to purchase the cryptocurrency underlying the Ethereum network through traditional brokerage accounts.

Today, not all brokers may offer their clients spot ETFs on cryptocurrencies.

What are the fees for ether ETFs?

The fees associated with each individual spot ether ETF were previously revealed In the S-1 OR S-3 (depending on the specific ETF) deposit associated with the offerings. These fees are 0.25% or less for all but one.

The Grayscale Ethereum Trust, which converts to an ETF, has a fee of 2.5%. The Grayscale Mini Ethereum Trust has the lowest fee at 0.15%. These fees are charged on an annual basis for the provider’s management of the fund and are in line with what was previously seen with spot bitcoin ETFs.

Brokers may also charge their own fees for cryptocurrency trading.

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News

Kamala Harris Odds Surge Amid $81M Fundraise. What Does It Mean for Bitcoin and Cryptocurrencies?

Published

6 months ago

23 July, 2024

Blocksight Staff

Kamala Harris Odds Surge Amid $81M Fundraise. What Does It Mean for Bitcoin and Cryptocurrencies?

Market odds and memecoins related to US Vice President Kamala Harris have soared as the latest round of donations tied to the Democratic campaign raised $81 million in 24 hours, bolstering sentiment among some traders.

The odds of Harris being declared the Democratic nominee have risen further to 90% on cryptocurrency betting app Polymarket, up from 80% on Monday and setting a new high.

Previously, in early July, bettors were only betting on 8%, but that changed on Saturday when incumbent President Joe Biden announced he would no longer run in the November election. Biden then approved Harris as a candidate.

Polymarket traders placed $28.6 million in bets in favor of Harris, the data showsThe second favorite is Michelle Obama.

Somewhere else, Memecoin KAMA based on Solanaa political meme token modeled after Harris, has jumped 62% to set a new all-time high of 2 cents at a market cap of $27 million. The token is up a whopping 4,000% from its June 18 low of $0.00061, buoyed primarily by the possibility of Harris becoming president.

As such, Harris has yet to publicly comment on cryptocurrencies or her strategy for the growing market. On the other hand, Republican candidate Donald Trump has expressed support for the cryptocurrency market and is expected to appear at the Bitcoin 2024 conference on Saturday.

However, some expect Harris or the Democratic Party to mention the sector in the coming weeks, which could impact price action.

“While he has not yet received the official nomination, there is consensus that last night’s development is in line with current Democratic strategy,” cryptocurrency trading firm Wintermute said in a Monday note emailed to CoinDesk. “Keep an eye on Democrats’ comments on this issue in the coming days.

“The prevailing assumption is that Harris will win the nomination and any deviation from this expectation could cause market volatility,” the firm added.

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Top 30x Cryptocurrency and Coin Presales Today: Artemis Coin at #1, Others Are: BlockDAG, 99Bitcoin, eTukTuk, and WienerAI

Published

6 months ago

23 July, 2024

Blocksight Staff

Top 30x Cryptocurrency and Coin Presales Today: Artemis Coin at #1, Others Are: BlockDAG, 99Bitcoin, eTukTuk, and WienerAI

The cryptocurrency market has seen a lot of growth and imagination lately, with new ventures popping up regularly. A critical pattern in this space is the rise of crypto pre-sales, which give backers the opportunity to get involved with promising projects early on. Artemis is a standout option for crypto investors looking to expand their portfolios amid the many pre-sales currently underway.

Cryptocurrency presales, commonly referred to as initial coin offerings (ICOs), allow blockchain ventures to raise capital by offering their local tokens to early backers before they become available on open exchanges. Investors can take advantage of these presales by purchasing tokens at a lower price. If the project is successful and the token’s value increases, investors stand to receive significant returns.

>>> Explore the best cryptocurrency pre-sales to buy now <<

The Ultimate List of the Top 5 Cryptocurrency Pre-Sales to Invest In

Artemis: The aim of Artemis (ARTMS) will become the cryptocurrency equivalent of eBay or Amazon. The upcoming Phase 4 will see the launch of the Artemis Framework, which will serve as a stage for digital money exchanges where buyers, sellers, specialized organizations and those seeking administration can participate in coherent exchanges.
DAG Block: uses Directed Acyclic Graph technology to increase blockchain scalability.
99bitcoin: operates as a crypto learning platform
WienerAI uses AI-powered trading bots for precise market analysis.
eTukTuk focuses on environmentally sustainable transportation options, such as electric vehicle charging infrastructure.

We have determined that Artemis is the best new cryptocurrency presale for investment after conducting extensive research. It presents itself as the unrivaled cryptocurrency presale choice currently open.

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Top 5 Crypto Pre-Sales and Best Cryptocurrencies for Investment Today

Artemis (ARTMS) is attempting to establish itself as the cryptocurrency version of eBay or Amazon. The Artemis Crypto System, which will act as a platform for cryptocurrency transactions, will be launched in Phase 4. Buyers, sellers, service providers, and requesters will all benefit from seamless trading with this system. Customers will be able to purchase things, such as mobile phones using digital money, as well as sell products such as involved bicycles and get paid in cryptocurrency. Additionally, crypto money can be used to pay for administrations such as clinical consultations, legitimate care, and freelance work. Artemis Coin will act as the main currency of the ecosystem, with Bitcoin and other well-known cryptocurrencies from various blockchain networks backing it.

Artemis Coin has increased in price from 0.00055 to 0.00101 from 0.00094. Artemis may be attractive to individuals looking to recoup losses in Bitcoin, as predicted by cryptocurrency analysts. At this point, it seems to present an interesting presale opportunity.

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The world of digital currency pre-sales is an exciting and exciting opportunity that could open the door to game-changing blockchain projects. Projects in this article, like Artemis Coin, offer the opportunity to shape the future of various industries and the potential for significant returns as the industry develops.

However, it is imperative to approach these investments with caution, thorough research, portfolio diversification, and awareness of the risks. You can explore the digital currency pre-sale scene with greater certainty and increase your chances of identifying and profiting from the most promising venture opportunities by following the advice and methods in this article.

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