The Alephium blockchain, like many decentralized networks, relies heavily on the contributions of miners to maintain its integrity and functionality. Recognizing the significance of these contributors, we are launching a series of articles titled “Miners’ Highlight.” By focusing on their contributions, challenges, and experiences, we aim to better understand the mining process and its importance. You can find #1 here and #2 here.
Bokiko, a crypto enthusiast, shares his passion for mining and Alephium.
What can we call you, and where should we picture you?
You can call me Bokiko. Picture me in my home lab, surrounded by the hum of servers and the glow of monitors, constantly exploring the dynamic world of crypto mining.
Tell us a bit about yourself, your passion for mining, and your background story.
I come from a business background, having studied in business school and worked in financial trading and restructuring. My journey into the world of cryptocurrencies started around 2017–18. Initially drawn to it for its financial prospects, I quickly found a deeper interest due to my long-standing passion for technology and building PCs. This combination of my professional experience and personal interests naturally led me to the realm of crypto mining.
When & how did you get into mining cryptocurrency?
My entry into mining cryptocurrency was a natural progression from my initial foray into crypto trading. In 2020, as the world grappled with the pandemic and digital transformation accelerated, I had the time and resources to explore this new interest more deeply.
How long have you been mining Alephium? What made you switch to mining Alephium?
I started mining ALPH quite early, drawn to its technical specs, particularly its approach to sharding and its clear objectives, which differentiated it from other networks I had mined before. With an understanding that ETH mining was drawing to a close, I saw an opportunity to get ahead in Alephium before it gained wider attention. I was fascinated by the Blake3 algorithm the devs chose, which was new to me. Mining it offered significant benefits, being easier to overclock and gentler on hardware. Plus, it was conducive to dual mining with ALPH. These factors, combined with the tech and team transparency, made me look deeper into Alephium, and I’ve been constantly impressed. My first tweet about ALPH dates back to February 2022.
https://twitter.com/Bokiko_io/status/1489685936665411586
You run the cloudiko.io mining pool. What motivated you to add Alephium to it?
My partner @cloudbasedme and I founded cloudiko.io out of our shared enthusiasm for expanding our crypto journey. As miners ourselves, we’ve always been keen on supporting networks and had our share of observations and issues with various pools we mined in. This led us to the idea of creating a pool that we personally mine in. The concept was simple: anyone who joins us is essentially joining our hashrate, ensuring they receive the same level of service we provide to our own rigs. In a gesture of goodwill, we even made the pool fee-free for the first six months, starting June 2023.
Our focus on Alephium, which we mine personally, was a key reason for adding it to our pool. It was about contributing to the decentralization of hashrate and offering miners diverse options. We handle everything from running the pool to providing support. My partner, in particular, deserves special credit as the technical brain of this project.
You are very analytical, as seen in your awesome articles and dashboards/reports. Where does that come from?
My analytical approach stems from my background in the financial sector and my passion for technology.
I always aim to write and analyse in a way that is accessible to the average person, avoiding overly technical jargon.
I believe the key to broader adoption of crypto lies in making it understandable and relatable to more people. That is why I make it as simple as I can whenever I publish anything on Twitter or Medium.
What caught your eye in Alephium and the community?
The Alephium community’s warmth and the developers’ accessibility impressed me.
Alephium’s unique branding and a clear roadmap, combined with the team’s dedication to innovation and transparency, made the project stand out.
What would you recommend to someone just getting started with mining Alephium?
For those starting with Alephium mining, I suggest joining smaller pools to help decentralize the network. It’s crucial to understand that while the Blake3 algorithm for mining ALPH is GPU-friendly in terms of coolness and ease, it’s likely to evolve towards FPGA and ASIC dominance soon. Therefore, while it’s currently feasible with existing GPUs, investing in new ones specifically for ALPH might not be a wise long-term strategy. Beyond this, I can’t stress enough the importance of engaging with the Alephium community. Active participation and exchanging ideas within the community are key to the growth and success of any crypto network.
With your current multi-cycle experience, what’s your outlook for this one?
In my view, the current cycle could very well be the ‘super cycle’ for several reasons, but mainly due to the increasing institutional adoption of cryptocurrency. This shift began with the Bitcoin ETF and is likely to continue, funneling more investment into the crypto sphere. As institutional guidance becomes more prevalent, we can expect a positive impact similar to what was observed during the early adoption phase of the internet 20 years ago.
This influx of institutional investment will bolster established networks and support the growth of new dApps and technologies. In summary, this cycle holds the potential for significant advancement and expansion across the entire crypto industry.
Where do you see GPU mining in the next few years?
GPU mining will continue to be a significant part of the crypto ecosystem as long as there is a dedicated mining community.
The future scale might fluctuate, but its existence is not in question
Anything else you’d like to share with the community?
Kindness goes a long way in the crypto realm. Treat each other with respect and be genuinely happy for others’ successes.
This positive attitude tends to be reciprocated, creating a supportive and collaborative environment.
That is the end of this interview! If you are interested or have extra questions, you are welcome to reach out on our Discord, or in the Alephium Telegram channel. Don’t forget to follow @alephium on Twitter to stay up-to-date.