Bitcoin fled the period of the flood season, nearly 90% of the arrogant mining machine, what is the meaning?

The bitcoin mining market is in the peak season, and a large number of mining machines are rapidly moving to the Yunguichuan area for low electricity prices, which can greatly increase their mining revenue. However, at this time, the Bitland, which is known as the mine tyrant, has sold nearly 90% of its own miners at low prices, causing hot debate in the industry. Does it really mean anything?

Bit Continental Mania Nine Mineralizer

According to Bitcoin's monthly disclosure of computing power, as of May 7, all computing power to run SHA 265 algorithms, including bitcoin (BTC) and bitcoin cash (BCH) networks, has fallen to 237.29 PH/s, know that their indicator data is as high as 2,072 PH/s a month ago. This means that compared to a month ago, Bitcoin's own bitcoin mining business has reduced its computing power by 88% and nearly 90%.

Since July last year, Bitcoin has disclosed the calculation value of its mining equipment every month. According to the Internet History Archive page, Bitcoin's computing power in July last year was about 1692 PH/s, and after three months (that is, last October) it increased to 2339 PH/s.

Bitcoin prices fell in around October 2018, once fell below $4,000, which also led to a decline in the overall computing power of the Bitcoin network during the same period. Although the internal power of Bitcoin has been falling, the bitcoin cash network power provided by Bitcoin's own equipment has remained relatively stable since the beginning of this year, basically 2000-2500 PH/s.

Interestingly, many media outlets have revealed that domestic miners are preparing for the upcoming flood season in Southwest China, hoping to use cheap electricity to mine bitcoin. Not only that, but also in March this year, it was reported that Bitco plans to deploy $80 million this summer. Own mining equipment.

The development of the facts does not seem to be as expected. Under the bear market, the Bit Continental, which has been maintaining its own computing power, has escaped during the flood season, and has lost 88% of its calculation power and nearly 90% of the mining machines.

The whole network computing power continues to grow

Although Bitcoin's computing power has decreased by 88% in the past month, the overall network computing power has maintained rapid growth in the past month due to the arrival of the flood season.

At the end of 2018, because the price of the currency touched around 3,000 US dollars, it once broke through the cost of mining mining, and the calculation power fell sharply for three consecutive times, 7.39%, 15.13% and 9.56% respectively, but at the beginning of 2019, the calculation power was at The continuous recovery has now gone through three rebounds and two declines.

Especially in the past month, due to the arrival of the flood season and the boost of the currency price, maintaining a rapid growth rate of nearly 5%, the current growth rate is expected to continue to increase, and the computing power may hit a new high.

The overall mood recovery of the market mining is only the reduction of the holding power of the Bit Continental. In the more abundant season, the arsenal of the 9-point mining machine covers a layer of fog. Is it really unfavorable to smell the bit mainland?

What is the meaning?

In response to the bit-continental behavior of the industry's mining machine leader, the market is generally picking up, and 90% of the miners are eager to think about it. The author roughly categorizes this motivation into the following three reasons.

One: policy to hedge.

On April 8, the National Development and Reform Commission clearly pointed out in the "Industrial Structure Adjustment Guidance Catalogue (2019, Draft for Soliciting Opinions)" that the virtual currency "mining" activities (the production process of virtual currency such as Bitcoin) belong to the elimination industry.

According to the public documents, the industries belonging to the phase-out category, the year after the entry in the brackets is the elimination period, and the elimination period is January 1, 2021, which means that it should be phased out before January 1, 2021, and the rest is analogous; The entries are eliminated according to the plan; the items that are not marked for the elimination period or the phase-out plan are those that have been explicitly phased out or eliminated immediately. This means that Bitcoin mining activities are an immediate elimination of the industry.

Bitland has gradually divested its mining activities out of its own business. It is in response to national policies that the time to be enforced can avoid excessive losses.

Second: the funds are returned.

At the end of 2018, at the beginning of 2019, the ups and downs were caused by the fact that due to insufficient operating income, the proportion of layoffs in Bit China could be as high as 85%. The AI ​​department and mines of Beijing Company were all cut. Although Bitcoin denied it and said that it is not so high, there are indeed many people who have been quit.

Then, after the market improves, the mining machine will have a premium. At this time, it is convenient and quick to leave the mining machine, and the funds will be returned quickly.

An industry insider who participated in the transaction said, "At the beginning of April, when the price of the currency reached 5,000 US dollars, the mainland threw out hundreds of thousands of S9 big orders, and the crazy ones were quickly eaten." People added, "There are several mines that are sold out, and there are tens of thousands of them left. In addition to second-hand mining machines, there are some new machines." Another industry insider said, "The price is in the early thousand yuan. Now S9 is rising again. There are 500 pieces, and the mainland is low-priced. So urgent, it is speculated that it is to withdraw cash flow."

Third: expand new business.

The existing mining machine in the market, especially until two years later, the existing mainstream mining machine is still the ant mining machine S9, when iteratively updated, if this time Bit China can launch a new type of new improvements in computing power and energy consumption. The mining machine, recently, is the best shipping time of the existing mining machine. Of course, all of this is the first to know the people, and only the bit mainland itself.

Author 丨莱道君

Source 丨莱道 blockchain (laidaoblockchain)