Chang Yong: Changes in mining policy have little effect on the price of digital currency

Babbitt News, on April 8, the National Development and Reform Commission publicly solicited opinions on the "Guidance Catalogue for Industrial Structure Adjustment (2019, Consultation Draft)", and the virtual currency "mining" activities appeared in the elimination industry. Liu Chang, a founder of Zhimi University and a Ph.D. in economics at Peking University, said in an interview with Babbitt. (This incident means that local governments continue to acquiesce to the smaller space of mines, and it is difficult for domestic large mines to bypass policy regulation. Regarding the risk of stopping, at least the new mines are afraid to continue to deploy. The exit of the large mine will cause the difficulty to decrease, the profit margin will expand, and the income of the small mines that will not be managed temporarily will increase. He also pointed out that the increase in mining profits will increase the demand for mining machines abroad, and make up for the loss of domestic demand of mining machine manufacturers. However, domestic manufacturers should consider the long-term policy risks and should consider transferring the production capacity to the outside. He believes that the change in mining policy has little effect on the price of digital currency. Regardless of the size of the calculation, the supply is fixed, and the price is mainly affected by demand and the big cycle. At present, the bear market has ended, the market is relatively stable, and the negative impact of the policy is not significant.