CME Supervisor: bitcoin ETF listing application marks the maturity of the market of digital assets
Bitcoin bitcoin community look forward to many years of half event last week low, now the past week events, but its influence is almost very little.
EST 12:48, bitcoin block 420000th is the largest one of the F2Pool mine pool dug out and sealed, rewarded 12.5BTC. This marks the second time bitcoin miners first half completed, after reduction of reward.
According to the bitcoin code provisions, half event miners reduced to half of the original mining subsidies. The original founder of bitcoin Nakamoto just released bitcoin, bitcoin reward for each block 50BTC. 3 and a half years later, when the 210000th blocks have been dug up, bitcoin reward is automatically reduced to half, 25BTC, this is the first time in half, now 420000th blocks were dug up, bitcoin second half occurred.
This is half of the total supply control bitcoin. When the last bitcoin was released in 2140, bitcoin market volume will reach 21 million, but because of the wear, not really so much circulation.
In half, the incident caused by reactions which are predicted, some people think that bitcoin prices will fall immediately, and some people predict worse scene.
But the result is very clear, at least in half after the first week, but half is bitcoin in the development of a very ordinary day.
Bitcoin prices were not affected
A half before the main prediction is that bitcoin bitcoin prices will decline, because traders in half before the big hoarding bitcoins, halved after sell, resulting in oversupply.
For example, the managing director of WhaleClub PetarZivkovski predicted some astute investors, institutions, professional traders and other senior bitcoin traders will be halved in time to sell bitcoin holdings.
According to CoinDesk’s $bitcoin price index (BPI), half a day before, bitcoin prices fell nearly 10%, down from $674 to $618. Despite the earlier than expected, but it also marks the expected selling phenomenon may occur.
However, since the half after bitcoin price is $637 to $673, or in 5% of the floating range.
One possible reason is that smart investors think bitcoin prices can be higher, the new supply to the market to buy bitcoin is offset by the sale of smart investors.
OregonMines founder Terence Thurber (TerrenceThurber) initially told the CoinDesk that he believes bitcoin price can reach $900, equivalent to two times the $445 before June rose sharply.
“Half after bitcoin prices would normally rise, that reduced supply and demand increase.”
If every ten minutes to launch 25BTC, bitcoin price of $660 and remained stable, then the demand for every ten minutes 25BTC. If bitcoin prices remained in half after the relatively stable, because the supply is down to 12.5BTC, the miners will not sell all these coins, and investors to sell bitcoin holdings, which was offset by new supply reduction problem.
A similar situation also occurred in November 28, 2012, the first half of bitcoin, bitcoin price was $12.25, a month later, bitcoin will hold up to about $1. But in January the following year, bitcoin prices began to rise, the arrival of April 9th, to $230.
Although bitcoin prices have been floating prices, or lag relative to halve the immediate response.
The calculated stress effect
Although prices remained stable, but the miners or by a direct impact.
When the ant pool (Antpool) sealed 419999th blocks, received a reward for the 25BTC, was worth about $16250. A few minutes later, when the F2Pool seal 420000th blocks, they were awarded to 12.5BTC, the value of about $8125.
The miners obviously saw their income has been reduced by half, which is expected in the. But in half before the expected bitcoin stress will fall sharply. The results show that although the calculated stress did decline, but only from 1600petahash/ seconds to 1400petahash/ seconds, the amplitude relative to the past few months is force fluctuation, ok.
GenesisMiningCEO Marco Stellen (MarcoStreng) said that for bitcoin mining, the efficiency is important.
“For us, and will not let us be startled at half, we have been preparing for this event. Mining the most important rule: if you are still the highest efficiency of the miners, you will be able to continue mining. While others will need to stop, to the miners can get more pie.”
In addition, even if the income dropped from $16250 to $8125 in revenue, far from previous bad, most of the time in 2015, bitcoin will be in the range of 200 to 300 dollars in.
According to the Blockchain.info data collected from January 2015 to November 2015, mining income is even lower than today, in the meantime, bitcoin is continued to increase from about 300PH/s over the same period increased to 500PH/s.
However, since then, there have been significant changes.
At the beginning of 2015, miners are still using 28nm chips, such as Bitmain ant mining machine S3 for each device, provides about 450GH/s of work force. Now the ant mining machine S9 each 14TH/s is able to provide.
At this point, now the miners so that employees are far more efficient than previous hardware, this is the miners even if the income is halved, still can get some return.
The whole network is accounted for 5.5% of the HaoBTC CMOEricMu explained that the hardware cost is the most of the miners. Now they have more efficient equipment, as long as the electricity is cheap, so they can continue to profit.
At the end of 2015, each block won 5000 to $7500 (RMB $200-300) of the survivors, now $8125 still relatively better.
Now bitcoin has experienced two times in half, in theory should be the bitcoin network and the price shock effect.
However, generally speaking, these two events showed that half may be quite boring. Although the miners are affected, but the current price, and no more than the previous monthly outflow.
Isolation of witness improvement scheme can solve the transaction code delay, and also for open doors, such as lightning network, but this solution is still on the road. Companies like OpenBazaar are continuing to launch those may become the first promising consumer APP.
In addition, new financial products, such as SolidX and Winklevoss put bitcoin Exchange Traded Fund (ETF) to seek regulatory approval for listing. Finally, bitcoin continues to advance.
Although the event is half bitcoin special boring day. But this once again shows bitcoin across a risk, to move on to the real world of tools.