One area of huge growth and fast evolution is the mining industry. The Hashers United Conference is one of the first conferences dedicated to mining, by miners, for miners. It is going to cover everything from home mining to the unveiling of new mining gear to cloud mining and the future. Huge money has been invested in the form of venture capital funding in stories like BitFury's huge multimillion dollar deal. Marshall Long, CTO of FinalHash.com, along with his partners Chris Morrison the chief coordinator, Valton Eason chief logistics, and Leo Iruke international law attorney, decided that it was time to have a conference for the miners who are the backbone of the blockchain.
CCN was able to get an exclusive interview with Marshall about how it all started.
Hashers United is one of the biggest Crypto Currency mining events, could you tell me about how FinalHash and your partners were able to put it all together?
In 2013 conferences were all about the same thing and next to nothing about mining other than people selling mining equipment. New people wanted to learn how to mine, and there was not much for the technical people to dig into and enjoy. After seeing it continue this way, we decided to setup a dedicated mining conference.
Once we got going and set just last week Leo and Valton partnered up with Coinagenda now Bitweek was born covering all the bases. Coinagenda, Inside Bitcoins and Hashers United. BitAngels runs Coinagenda; we will share speakers between the conferences and cross selling tickets, share ATMs and much more.
Hashers United will have some mining demonstrations and in-depth seminars about getting the most out your mining. This step is important to the mining industry where some people share their info and others keep it secret. How were you able to put together the demos and seminars and could you give a peek at what we will see beyond what is on the website?
We were able to put together some different types of sessions by hard work and a dedication to our mining passion. I will personally run a Gridseed hack session. Will teach people how to volt mod those five chip miners. I will give them a soldering iron and miner and step by step show them how easy it is to do. This is just a basic step to help those new to mining see it is accessible and for those who have been in it forever to enjoy this with others.
We also have more than just mining. A trade bot license and the creator of the bot will walk everyone through strategies and such using a bot. It is another aspect of our industry that can help so many and bring it to more people. So much more I am going to say "Hey, Tim Draper why did you buy 30k BTC?" He will say "Funding an exchange" and it will go from there. This show will be a tech minded conference in many aspects.
How has Bitcoin and Crypto Currencies changed your life?
It changed my electricity bill. LOL I got into Bitcoin in 2009/2010 then got into LTC. As I met more people and got into more circles it just grew from there. I have noncrypto related businesses, and yet Bitcoin has brought me into contact with more people internationally. In crypto, you get to meet more people, and it is more of a family feeling. In other IT related businesses, it is just business in Bitcoin it is a family.
What got you started in mining cryptocurrencies and Bitcoin?
My friend told me about it and said we had to do this. I had always been around many systems and liked to build beast mode systems. I've always had liked the tech and feel of it. The decentralized nature of it appeals to me, and I like disruptive tech.
I believe it is a new internet; I was around for the start of the internet and saw it like that. Ground breaking and life changing. There are limitless possibilities.
What do you think of the fast evolution of the mining industry with the introduction of ASICs and where do you see it going over the next year?
I think the ASICs are hitting a plateau. The costs are getting huge just to go down the tape out costs just 3mill to 20 mill depending on nm size.
It is changing the landscape of mining and sending more and more of it to the cloud.
What are the challenges you see home miners and smaller miners having as we go forward with larger and larger mining farms and cloud mining coming into play?
Every time I get a new unit I deem them divorce makers as they get louder and hotter each time. People are not talking about that paradigm at all. Power consumption and size are always and issue, but the noise is something that most people just cannot deal with anymore.
The Chinese are first to market and do not optimize cooling and case design. They just throw it out there. That needs to be worked on. It is a uniquely new situation.
How do you feel the low BTC value is affecting the mining industry?
ZoomHash, GAW and other resellers are hurting due to physical miners, and not many people are selling hardware due to the low BTC price. Some companies are laying people off. It is really difficult to be able to plan ahead due to the ebb and flows. Common sense in the business world is if you double three months in a row you need to add on and yet the 4th month BTC value tanks it is hard to plan for and manage.
Many people are trying to run their first business in crypto, and a high volatility and speed of change in the market can crush them. Without a background, it is overwhelming. Most of the time they are just overwhelmed not scammers. Hashfast, for example, was bringing in millions and did not know if they could keep the doors open the following few weeks. The mining scene is fast paced, and changes are rapid.
What are your thoughts on Bitcoin mining especially becoming so centralized and do you see a solution?
Pool centralization is difficult most of them do profit switching and merge mining. When a new coin is added to the list to mine, the new coins are getting messed up and cannot develop due to the power suddenly thrown at them. It sucks if you are a small time miner. Everyone wants to make money with mining the miners are so powerful and so many people have them it takes a very large investment with little return. Unless it is a full-time job, you will not be able to make it rich. You cannot think you can spend $1000 and make millions anymore the genie is out of the bottle and fled.
As long as the largest of pools are willing to stay of 51% to stay away from it should not be much of a problem. The mining community will stop them if they do it, and the community needs to be aware of it and spread their mining capabilities to more pools. BTC has been good to us, and we do not want to kill it.
Is there anything you would like to highlight about the conference and can we look forward to more of them in the future?
Will be some great announcements and leaks at the show. Genesis mining will have something on Project X the have a great video teasing it. There will be Bitcoin ATMs, classes will be big we are having a large workshop and how to do things in mining and more. People will be getting hands on and learning. People will get their questions answered. Lots of high profile people will be there Tim Draper, Josh Garza from GAWMiners, Charlie Lee creator of Litecoin and so many more.
Many new products being unveiled at the show. The FinalHash cold storage wallet NFC will be unveiled and sold there Penn and Teller are beta testers for them and let me tell you they love Bitcoins. Keep an eye on Cloudmining and Iceland. It will be a wild show.
For everyone who had not purchased their tickets yet I will give them a 70% discount for the CryptoCoinsNews.com readers, use the code "cryptonews" on the HashersUnited.com website.
Thanks for the look at what is coming up with the Hashers United conference, Marshall we look forward to everything coming up. A huge week for Bitcoin and Cryptocurrencies indeed. Hashers United, Coinagenda and Inside Bitcoins is something that not only will be an excellent place and time to learn about Bitcoin and Cryptocurrencies but also the different facets of it. Investment, adding Bitcoin and Cryptocurrencies to your business or starting a new one in the realm. Mining, trading and much of what goes on behind the scenes. It is a great place to network with others in this fast growing and exciting industry. BitWeek is almost here. CCN will be covering much of what is going on and will be posting updates to our site and twitter accounts. Stay tuned as it is all just getting started.
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Last modified (UTC): September 30, 2014 10:05 PM