MinerGate's CEO, Claude Lecomte, on the future of mining and the cryptographic market

ZyCrypto had a discussion with Claude Lecomte, managing director of Minergate (one of the world's largest mining basins), as he shares his insights into the Crypto market and the future of the mining and cryptographic sphere.

• Please tell us something about yourself and what made you immerse yourself in the Crypto Mining business.

The first time I heard about Bitcoin eight years ago. The technical side of the crypt caught my attention, and I started reading it a lot. It gave me hope for the decentralized future.

In 2013 I purchased my first ASIC drilling rig and thought about starting my own mining pool. I studied the larger pools (Slush, Deepbit, BTC Guild, etc.) To understand the main features of the ideal mining pool.

In 2014 our team was launched MinerGateand since then we have constantly improved our users to be satisfied with the services we offer. We always focus on security, anonymity and simplicity.

• What do you think of the bear market and how is it influencing the Minergate?

I've been mainly a miner since the beginning. I'm a miner because this is the way I support the blockchain system. I would say that the downward trends in the market are affecting the mining industry and other parts of the cryptic life. When a currency loses value while the extraction of that currency maintains its level of difficulty, mining becomes a low margin asset. Under such circumstances the "get rich quick" paradigm no longer works. We can see the mining sector turning into a more professional business. That's why MinerGate is also turning into a professional tool.

• Recently MinerGate has launched the xFast mining client, please let us know together with its advantages.

xFast is a true mining innovation. Provides an increase of 300% hashrate on older hardware. The open beta has collected feedback from people who will use this client and many improvements suggested by users have been implemented. We hope so xFast it will become a new milestone in the development of professional mining customers. Provides the best hashrate for XMR and other coins based on CryptoNight, with an improvement in the hashrate of up to 10% on modern hardware, compared to competitors.

• What makes Minergate Better compared to the rest?

MinerGate focuses on simplicity. We love working with newcomers. We interact with our user base very closely, providing educational content on our blog and entertainment

social media (we have Secret Santa going now). And of course, our support team is always here to help.

Thanks to our special partnership programs we have enabled free instant withdrawals at Freewallet and obtained informative support from various publications, including our partners Cointelegraph, AMBCrypto, Coinspeaker, is ZyCrypto. We have affiliate and referral programs that offer our users the opportunity to increase their income. Our miners feel comfortable using MinerGate and we are doing everything possible to provide them with the best possible service.

• When do you expect the Crypto Market to bounce?

I would rather refrain from making forecasts for now. You can see that at the moment the cryptomarket is quite volatile. The truth is that it is becoming increasingly dependent on traditional financial institutions. For better or for worse, cryptic capitalism seems to be at the end, and with it the period of exponential growth. What remains, in terms of future expansion, is linked to the development of the sector along the lines of customer service, transparency and utility.

• Where do you see Minergate and the Crypto Market in 5 years?

I can not say anything for sure. It is difficult to foresee. I'm sure of one thing. Both the crypto market and the Minergate will certainly exist in 5 years. They will probably both be different from what they are now, but they will be solid.

• Do you have any favorite coins and why are they your favorites?

It is not easy to choose. First of all, it was Bitcoin. Then I invested in Monero and is currently my favorite. But I keep an eye on many other coins. At the moment we work with 11 cryptocurrencies. We plan to add a few more coins, so stay up to date with updates.

• What do you think of the recent war of the hash BCH, is it the cause of the current decline in Bitcoin?

Well, in my opinion, BCH is just an altcoin. I believe in Bitcoin Core. I think that such a rivalry within the blockchain community hinders the development of the entire crypto industry and gives it more credibility problems.

• Anything else you would like to let us know?

I would like to stress that the democracy offered by the blockchain is really stimulating. I see it as a way for people who have been left out of financial, political, and global issues to get a voice and exercise influence. Now governments are working on official regulations for crypts. More and more companies accept payments in cryptocurrencies. Who would have thought 10 years ago, when Satoshi presented his brilliant invention, that we would get so far in this short space of time? And we can not say what could happen in the next 10 years.