On March 12, BTC led a crowd of cryptocurrencies to stage a wave of "slump", with the decline once exceeding 40%. Waterfalls of this intensity are rare in history. The speed of the diving currency coupled with the upcoming "halving" made the situation of the miners particularly difficult. Has the halving benefit been exhausted? What is the current situation of the miners? How much does the currency price need to rise to make the miners profitable?
The chain node AMA sent a new permanent resident to host Wang——Geng Niutou Big Brother (question in each issue), sorted out the topics that netizens paid special attention to, and invited Panda Mining Machine & Niubbit COO Yang Xiaohe, an early Bitcoin community participant, Marvel Capital, the founder of Wonderful Capital, minted the guest chain node AMA to discuss the collation of Niutou and questions from community users.
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- Bitcoin's secret history: 21 million is not the ultimate total of Bitcoin
- Hitting another record high, the trading volume of bitcoin futures products on the Chiba Exchange exceeded US $ 100 billion
- Talking about Bitcoin Investment from the Perspective of Large-Scale Asset Allocation
- Case Study: Stealing Bitcoin does not constitute theft?
After the slump: In crazy markets, sometimes steady persistence is required to eat complete fish.
The price of 312 coins collapsed, and Bitcoin's risk-averse attributes received critiques of doubt. Whether or not believers can continue to hold faith has become a question among people in the circle who ridicule each other and secretly think about it.
With regard to the reasons for this decline, many insiders have given a lot of analysis. A more unified understanding is that the capital market has brought about a tightening of capital caused by the epidemic and the global economic crisis. Traditional investment markets require a lot of funds to maintain stability, and the digital currency field is naturally affected. The extremely low liquidity of the entire market, coupled with the support of futures and leverage, eventually caused extreme market volatility. In addition, regarding the linkage between U.S. stocks and currency prices, Mint added:
There are several key factors in the linkage between the currency price and U.S. stocks. One is the largest channel for depositing USDT and the anchoring of U.S. dollars. There is actually a lot of risk here. The epidemic situation in the United States this time is likely to lose its status as the world's largest economy. After the epidemic is over, it will have an important impact on the currency circle. RMB stable currency, gold anchored stable currency.
The extreme plunge in the market has reduced the mining revenue. Some mining machines cannot afford the electricity bill due to the low currency price, and the risk of temporary shutdown will also have a negative impact on the mindset of miners. Should miners continue? Yang Xiao said:
Is there any prospects for mining? As the basic support of POW, mining cannot support the operation of the Bitcoin network without the mining machine's computing power. Although the mining industry has passed the era of absolute riches, it is still the most profitable industry except for monopoly industries. Now the mining returns are indeed relatively low. You need to have a longer-term patience. Mining itself is an investment perspective for the medium and long term. The computing power corresponding to the low price of the currency is also low. More coins will be mined from the logic of the currency standard.
Before halving: bear market mining, bull market hoarding coins-the voice of an iron head old chives.
Facing extreme markets and halving approaches, the pressure on miners is increasing. Yang Xiao said that mining is an arms race, and the best conditions are needed to win the final victory. At the moment, miners need to adjust their mentality and deal with anxiety. He mentioned that miners actually have a firm belief in the Bitcoin basic network. Some people may think this is superficial empty talk, but to ensure that the Bitcoin network continues to operate stably within their ability, as old miners do not want to give up. Not willing to give up the bottom line. Of course, the miners are about to face a tough battle. In this battlefield, only the feelings are still far away and they cannot win. It is a destined fact that victory will be eliminated. Yang Xiao said:
If you want to know at what price the current model with low computing power will not be eliminated? We have calculated that the price of S9 may be between US $ 11,000 and US $ 13,000 to survive.
Yang Xiao also mentioned that in response to the topic of "mine disasters" that everyone is talking about, to give an extreme example, if the recent currency price recovers to between $ 11,000 and $ 13,000, most S9s on the market will resume to boot, and the entire network has computing power. And mining difficulty skyrocketing, the currency price plummeted to $ 3,000 after halving, and at the same time in the adjustment of computing power difficulty, at this time, there may be a "mine disaster" that everyone "expected" will appear, the impact of which should also It's an industry-wide shock, not just bitcoin. After all, Bitcoin is the most stable mainstream currency and the most mature application of blockchain technology. In this regard, Mint believes:
My understanding of the mining disaster is that the large-scale mining machine and the situation that caused the Bitcoin network security, if it is only the mining machine, then this scenario will occur at each stage. Because new and old miners always have to iterate, this time it was caused by systemic risk that “a part of” the miners was eliminated as soon as possible. In fact, there is no essential difference. No mine disaster, no mine disaster, no mine disaster.
In response to the upcoming halving, many miners have begun to adjust their mentality and redeploy, such as converting thermal power to hydropower. For newcomers who want to enter the market, it can be said that it is a relatively friendly state-the price of mining machines has fallen by nearly 50% to 70% compared to the high level of last year. It can be seen from the relatively small size that there is limited room for miner prices to continue to fall. Yang Xiao emphasized that coupled with the black swan epidemic and the demand for 5G this year, it will have a greater impact on the production side of semiconductors. Therefore, the supply and demand of high-quality, low-energy-consumption machines will become tighter. For users who want to start mining machines, they can consider choosing a machine to start with. Mint gave his own experience: bear market mining, bull market hoarding.
The above is the collation of the content of this AMA. In such a special period before the halving after the plunge, faith has once again been pushed to the forefront. It can help you rise high-rise buildings on the ground or look at you accidentally. The currency circle is a small river and lake. The left hand believes in righteousness and the right hand thinks about reason. It is hoped that everyone in the circle can survive and pass smoothly. Finally, borrowing Yang Xiao's answer to summarize and hope:
Tomorrow and accidents, no one knows who will come first and predict the next hot spot? If you can, hopefully the price of the currency has skyrocketed.
Review of this issue of AMA: https://www.chainnode.com/ama/415764