Wan Hui: The "mine disaster" is a dynamic and relative state. Finding cheaper, stable, and controllable electricity around the world is the correct posture for mining.

On December 12, Dovey Wan, founding partner of Primitive Ventures, stated on his Weibo that the so-called "mine disaster" is a dynamic and relative state, and that difficulty / computing power has always been a price lagging indicator. Not a leading indicator. There is no cheapest electricity in the world, only cheaper electricity, and free electricity has its own way. Bitcoin is a global energy arbitrage (global energy arbitrage). Your mining disaster may be the mine of someone else. "This Chinese group is going to sell me cheap scrap iron again." The (temporary) monopoly of mining in China is not due to energy cost advantages. China ’s compliance electricity bills are not cheap at all. They are not as good as those in Upper State NY, Washington, DC, and near the Great Lakes. The biggest unfair advantage of Chinese miners is over machinery. Obtained the first month of the near water tower. In addition, everyone has very different expectations for the payback period. Some people have to repay loan sharks before returning to half. I also know that there are old irons that are mined in Japan with hugely expensive solar energy, and this period is calculated using decade. Cheap, stable, and controllable electricity is the right posture for mining.