Bitcoin prices have hit new highs, is it still time to dig?

In recent years, bitcoin has changed the downturn at the beginning of the year, and started the rapid growth mode at the end of the year. On November 30, bitcoin prices exceeded the historical highest price of coindesk of $19665, and then approached the $20000 mark several times. On December 16, bitcoin finally broke through $20000, or even exceeded $23000. On December 19, BTC broke through the $24100 barrier. So far, the price of bitcoin is around $29170. The near crazy rise not only excites the encryption circle, but also many investors outside the circle are eager to participate in the bitcoin investment. So how do ordinary investors participate? Is there still time for mining? The dilemma of bitcoin Investment: the spot price is high, and mining is difficult. Buying coins and mining are the two most direct ways for ordinary users to participate in investment in the encryption market. At present, the price of bitcoin is high. Although the price of bitcoin is fierce, investors who are not involved in the industry deeply and have no belief in bitcoin will inevitably worry about entering the market now, and worry that the future price of bitcoin will not be achieved The expected trend. In contrast, it seems a good choice to continuously provide “ammunition” and mine with its own cash flow attribute. However, it is not so easy for a miner. According to the data, after the “312 crash” this year, bitcoin network mining difficulty has experienced the second largest decline in history, with a decrease of 15.95% to 13.91t, and the average computing power has dropped to 99.59 eh / s. However, as the influence of 312 event gradually faded, the difficulty of bitcoin network mining began to rise. On April 8, the difficulty of bitcoin mining increased by 5.77% to 14.72t at the block height of 624920, and the average computing power of bitcoin network increased to 105.21 eh / s, and the average block time was 9 minutes and 28 seconds. Then came the third half of the bitcoin block award, which was reduced to 6.25 bitcoins. Compared with before, the difficulty of mining has increased exponentially, and the requirements for equipment are higher and higher, which greatly prolongs the recovery cycle of miners, and even faces the risk of bankruptcy and shutdown. Therefore, even with advanced equipment, miners are more inclined to join the mine pool. Due to the exponential rise of computing power of the whole network, the low computing power of a single device has been difficult to obtain block rewards in the bitcoin network. The low block reward probability urges miners to develop and design a mechanism that can combine a small amount of computing power for mining. The platform established in this way is called a mine pool. As a mechanism of integrating scattered computing power, after any member digs out the block, all members of the pool can share the profits, which makes the gambling event of mining alone to obtain the block income become the low-risk event that can obtain stable income. After choosing to join the mine pool, as long as they participate in the mining, no matter whether the block is successfully found or not, it can obtain profits, which is undoubtedly a better choice for individual miners. How do investors choose the right mine pool? At present, the competition in the mining pool industry is very fierce. Not only are there many projects in the mine pool, but also there are many mines that can not stand the baptism of the market. How should miners choose a stable and reliable mine pool that can be relied on for a long time? It is not difficult to find out that only with the following advantages can we survive in the competition of ore pools. The first is the user advantage, which has the inherent advantage of gaining customers, which makes the structure of miners in the mine pool diversified; the second is the technical advantage, which can make the output stable and the income stable; the third is the cost advantage, which can make the miners obtain high returns at low cost, and control their own cost within a reasonable range; the fourth is the capital advantage, which can only cope with the unpredictable changes of the encryption market To change. At present, most of the managers of ore pools are exchanges. The exchange collects management fees through the management of ore pools. This trading behavior provides the exchange with non trading BTC sources. Through the management of ore pools, the supply of BTC in the market can be increased and the liquidity of the exchange market can be improved. As a manager, the exchange has a certain natural advantage in attracting customers. Miners are also willing to join the pool business set up by the exchange. First of all, because the early profits of the exchange are obvious to all, it has formed a good credit endorsement. Miners can choose the trading pool with stable income to join. At the same time, the mine pool business and the exchange business interact to join the exchange mine Pools can enjoy better trading services and even lower transaction fees. 58coin & 1 thash, a subsidiary of 58 group, is such a model, and has formed a good ecological linkage with its own 58coin exchange. Founded in 2014, 58 group is one of the early global blockchain enterprises and a participant in Asia’s first generation bitcoin mining pool. Its business covers multiple dimensions such as mining pool, college, wallet, service platform, 58 Research Institute, technical research and development guidance, and ecological empowerment center. In 2017, the calculation power of 58hash ore pool ranked among the top ten in the world. In 2019, the mine was officially renamed 58coin & 1tash, and it was connected to btc.com in August. Up to now, it has been running smoothly for 99.99% of the time for six years. At present, there are more than 160000 mining machines in 58 group’s mine pool, which are distributed in 15 + countries and regions at home and abroad. The equipment adopts the best quality mining machines such as S17, S17 +, T17, S19, E12 +, M20S, M30, etc. The mine adopts the optimal design of optimal indoor temperature, moderate humidity, noise reduction and mute, dust isolation and ventilation, and adds intelligent control mechanism to ensure the normal operation of the mine, and minimize the loss and mining cost of the mining machine. At present, the computing power is about 9000 pH / s, ranking among the top five in the world. Both in background and technical strength, 58coin & 1tash has strong advantages. The 58coin exchange, which is closely related to the ecology of the 58coin & 1tash mine, also maintains a good reputation in the market. Founded in 2017, 58coin has nearly 3.8 million registered users, and its business covers 125 countries and regions around the world. It has strict risk control system and intelligent technology system, and takes technical security and risk control mechanism as the focus of development. For information security, 58coin encrypts user information in the whole process, and implements separation of internal and external access rights and information desensitization processing mechanism; for user capital security, 58coin adopts cold and hot Wallet separation system, and cold wallet private key adopts physical isolation mechanism to protect users At the same time, it ensures the verification flow. Since its establishment, 58coin has never happened such as theft of coins and other incidents. It has kept a record of zero security incidents, providing a reliable guarantee for the safety of users’ assets. In the face of the surging wave of bitcoin, is it too late to mine now? There is no correct answer to this question. There is no lack of opportunities in the encryption market. What investors need to do is to formulate investment strategies rationally according to their own conditions, instead of being eager for success, they can implement them steadily according to the plan. 2020 is coming to an end. I hope that in the new year, each of us can create our own wealth myth. Source: Golden Finance and Economics/

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