The next bull market may be triggered by the freedom of information brought about by decentralized storage

江卓尔（ Jiang Zhuoer）， founder of btc.top.

Graduated from university of science and technology of China, double degree in computer science and business administration.Zhihu big V, columnist, big miner, long-term investor, currency circle prophet.

Lebit mining pool is the top bitcoin mining pool in China. At the peak of the bull market at the end of 2017, lebit mining pool once reached the first place in computing power of the whole network.

At the end of 2015, a long science article he wrote on zhihu, “what is bitcoin”, has been viewed nearly 6 million times so far.There are many classic sayings of gonzorra on the Internet, such as “all freedom is just”, “judging people with big data is like god watching ants”, and “asking god for short-term money and users for long-term money”.

At the end of 2017, he was near the top of the bitcoin bull market.At the end of 2018, he successfully predicted that “bitcoin is likely to bottom out by the 2019 Spring Festival, and the currency price may be around $3,000”.

Late on July 27, Jiang Zhuoer teacher interview a guest star horizon community, chat to center storage market opportunities and bold predictions of the recent market, large amount of information, content should be members of the community proposal, we will arrange interviews for two feature records content, respectively, to center storage, the market analysis “, is convenient for you to read.

The central storage section is as follows.

1

IPFSNEWS: you said in an interview late last year on the subject of “the next tulip,” that “the next bull market will be triggered by content and file storage projects,” and that the timing, you judge, “is projected to be 2019–2020.”

It is known in the circle that you are a computer student. What is the logical support for making such a bold and direct public judgment?

Jt: first of all, what is blockchain?Blockchain = database + decentralization = database without any center.

The value of block chain lies in its decentralization, because no one can eliminate a decentralized database.For example, if you want to destroy bitcoin, it’s basically impossible unless you destroy all 20,000 nodes of bitcoin.

Because it is decentralized and impossible to eliminate, blockchains can increase economic freedom.

Looking back at the bull market of 2016–2017, many people were wrong.

In the bull market of 2013, the overall price increased by 100 times, from 80 at the beginning of the year to 8000 at the end of the year. Therefore, many people predicted that the price of currency would not increase by 100 times in 2016–2017, because for an investment product, the larger its volume, the lower the volatility, which means that the larger the price, the more stable the price.But in fact, the 2016–2017 bull market also increased 100-fold, from 1,300 to 130,000.

Why is 2017 also a 100-fold increase?Because in ’17 there was a new freedom called equity freedom.

In previous bull markets, only bitcoin was a monetary freedom, while the emergence of ethereum in 2016–2017 brought a new freedom — equity freedom.In the past, all equity raising was strictly regulated. To raise equity, one had to go to the government-regulated stock market and go through a series of complicated procedures.The whole process is highly regulated and costly.

Ethereum gives you the freedom to raise equity anywhere in the world in any way you want.Despite the early hustlers, Austrian economics suggests that markets will eventually rebalance.Ethereum’s equity freedom was the source of a 100-fold bull market in 16–17.

Looking ahead to the next bull market, it is now possible to expect the emergence of two new freedoms: legal freedom for stable currencies and freedom of information for decentralized storage.

Stable COINS are now common because exchanges invented them because the legal world is not friendly to exchanges, and now Facebook is considering issuing its own.

Bitcoin ensures that property is not frozen, confiscated or destroyed.The freedom of information brought by decentralized storage can guarantee that documents and data information will not be frozen, confiscated, tampered with or destroyed.

2

IPFSNEWS: let’s move on to the first question.In fact, in 19 years, as you mentioned, a number of storage projects emerged, most of which were redeveloped based on the IPFS protocol.What do you think are the opportunities for decentralized storage represented by IPFS in the future as 5G, big data, AI and other industries mature?

First, let’s talk about the difference between centralized and distributed storage.

Distributed storage is simply a technical way of storing data that is distributed across multiple servers, as is the case with most Internet services we use today.For example, an article on WeChat’s official account is stored on a hard disk in a server room of tencent.

Tencent may pack many servers together to form a large storage pool, and then put all WeChat public articles on it, which may be distributed using a hard disk of a certain server for storage.

But distributed storage is centrally controlled, so the god of vaccines can be deleted.

What is decentralized storage?It is the same as the concept of blockchain. It is the manifestation of blockchain in the field of storage. Decentralized storage = distributed storage + no center.It is stored in the same way as distributed storage, but no one can delete the file without a private key, and if king of vaccines is stored on an IPFS network, the more widely the article spreads and the more copies it has, the less likely it is to be deleted.

With the spread of 5G, we will have ubiquitous high bandwidth. It is possible that a mobile phone will connect to the network faster than the current wired network, which means that a large amount of data and services will migrate to the cloud for storage, which will create a huge demand for decentralized storage.For example, if you read an article on WeChat public account in the future, it may be stored on a decentralized network. Without the private key, no one can delete it.

3

IPFSNEWS: since you started in 2013, you have been focusing on POW mining, which is the mainstream mining method at present.Every move you make is a barometer for miners. Would you consider entering the market for storage mining/hard disk mining?

Troll: I will enter the hard disk mining market, and I will participate in mining after Filecoin goes online.

There are already some hard disk mining, such as PoC mining mode, and their main idea is to solve the problem of energy consumption caused by mining by using hard disk mining to reduce power consumption.But the PoC method of mining is meaningless.Although bitcoin consumes a lot of energy, there must be a cost for currency.The more energy money USES, the better. Gold, for example, cannot be the king of money if it is cheap to mine, like copper or iron.

The energy consumed by digging money is not gone, but injected into the value of money. The higher the energy consumption, the higher the value of money injection. Therefore, it is meaningless for PoC to pursue the low energy consumption of mining.

While hard disk mining is essentially a process in which users hire hard disk miners to work for them, Filecoin stores files, and POC takes up hard disk capacity, which is not used to store files.Therefore, for hard disk miners, they must participate in projects with higher profits. Filecoin has a practical application demand, so the demand will be higher and the price will be higher.So expect most hard disk miners to be involved in Filecoin mining.

4

IPFSNEWS: would you consider other projects in the area of decentralized storage?

J: I don’t know much about other projects, and I think the decentralized storage field, like the monetary field, will also form a very obvious Matthew effect, which is that the bigger the bigger, the stronger the stronger, and it is easy to form a positive cycle.

Of course, I will also be looking at other new and potentially decentralized storage projects, and if it shows technical advantages, even more than the previous leader, then I will invest and mine accordingly.

5

Nancy: Filecoin official May 10, in this year’s mentioned in the video conference, Filecoin can do ore mining pool, which apparently involved in your field, but the threshold of design and construction of Filecoin mineral pool is higher, not only need to block chain related knowledge, also need to be distributed storage of professional knowledge, also need hardware and software, the cluster structures, the ability to relate to and so on, the Jiang Zhuoer teacher will consider the layout Filecoin mineral pool, please?Why is that?

Ginger: actually I’ve always been interested in Filecoin because it brings a new kind of freedom.

Each new kind of freedom will inevitably bring a large number of users, a large number of strong demand, but also means a large number of profits.Therefore, as early as 2017, I made full research on the hard disk miner and prepared for mining. I was also waiting for Filecoin to go online.

So once Filecoin started, I would mine and lay out the Filecoin pools.

The lebit mine pool looks like a mine pool, but it is different.The calculation force in other mining pools mostly comes from users, and the mining pool is an organizer. In lebit mining pools, most of the calculation force is self-owned, including my own, shareholders’, partners’, etc., while the external calculation force is relatively small.In essence, we set up the corresponding mining pool because we deployed many mining machines for mining, so it is the same with Filecoin mining in the future. We will first deploy many mining machines and then build a mining pool.

6

N: the last question is the community consensus that Filecoin project is difficult to develop. Based on your understanding of the block chain industry, do you think such a project should first release the basic version to activate the market and then upgrade the system, or should it be developed to nearly perfect and then officially launched?

First, I want to explain why Filecoin is so difficult to develop.

Because block chain like bitcoin, actually the storage structure is relatively simple.Every node stores the same data repeatedly. If you have a block chain data and 10,000 nodes, all 10,000 nodes store the same data. It is relatively easy to synchronously transmit data and proofread between nodes.

But Filecoin is different. You put a copy of the data on it, and the data is not stored in every node, otherwise it will not be saved.The data may be divided into ten pieces and then stored on different nodes. The nodes will check and compare with each other to ensure that the ten nodes lose three or three referrals (they will never be online again), but the data you store will not be lost.

And this involves how to store M files on N nodes, which is a very complicated problem, much more complicated than bitcoin, where you store a file on N nodes.

Secondly, when designing the system, it involves more complicated issues such as how to prevent cheating and how to design a better incentive mechanism, so the development progress is relatively slow.

As for going live, I certainly hope that once you have a basic version available, you should put it online and give it a try.Because of some problems, it is not effective for the development team to daydream, including security, economic system incentives, to be measured.

Therefore, I still recommend that a new test version be launched as soon as possible, even if the COINS extracted from the test version are of no real use or can be exchanged for real Filecoin at a certain rate in the future.Anyway, let’s get this system up and running, and then we’ll know whether this system works or not, and what needs to be modified.

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