On December 22, the biggest AMA event in the history of Bitcoin will host its latest session with Wu Jihan, co-founder of Bitmain, the world’s leading producer of bitcoin mining hardware.
“Bitcoin and blockchain technologies are now gradually changing the people’s way of life.”
– Wu Jihan, Bitmain Co-Founder
The mining arms race
The biggest AMA event in the history of Bitcoin has been underway since the beginning of November and is showing no signs of slowing down. With the launch of the AMA session with Bitmain co-founder, Wu Jihan, on December 22nd, topics such as chip efficiency, network scalability, and the future of Bitcoin mining will be at the forefront of the discussion.
It’s no secret that Bitcoin mining equipment manufacturers are in a constant race to the bottom when it comes to lowering costs for miners. And following recent news of the release of the world’s fastest 16nm mining chip from Bitfury, the ball is now in the court of Bitmain, whose S7 28nm Antminer chips will soon be subject to inevitable obsolescence.
“We will be moving down to a 16 nanometer die size in 2016,” Jihan announced in September during an interview with Insidebitcoins. “16 nanometer technology has come a long way in the past year, with lower costs and better yields.”
Wu Jihan: Chinese Bitcoin pioneer
In 2009, prior to discovering Bitcoin, Jihan worked as a private equity fund manager and a financial analyst. But after the Bitcoin “AHA!” moment, he became not only one of the first Bitcoin enthusiasts in China founding the Chinese Bitcoin news portal 8btc.com, but also the first person to translate the Satoshi whitepaper into Chinese. Subsequently in 2013, Jihan saw the immense opportunity in the nascent Bitcoin mining industry and co-founded Bitmain. Jihan:
“Bitmain’s growth over the past couple of years confirms that there is still growing demand in this space and that Bitcoin use will continue to trend upwards. When we started the company, there were fewer than ten of us working on making our first mining chip. We are now the leading company in the Bitcoin mining industry.”
Considering that Bitmain is the world’s leading Bitcoin mining equipment provider, based in a country that’s responsible for roughly 70% of all Bitcoin mining, the company’s views on the block size debate, future plans and developments are sure to have an impact on Bitcoin’s future.
You can check out the replies so far and ask your questions to Wu Jihan here.
Join us in the biggest AMA event in Bitcoin history at forum.bitcoin.com!
Images courtesy of bitcoin.com