Bitcoin 11 days plunged 44%, behind the $48 billion 600 million evaporated, they are more miserable……

Source: Photo Network

Recently, ushered in his 10th anniversary “money king” bitcoin, suddenly opened a runaway mode.

Data show that the 11 14 April 12, bitcoin price of $6417. Compared with the $19299 to the end, bitcoin has been falling from the sky, fall 67%. In the next 11 months 25 days of zero hour, bitcoin price of $4342, the 18 24, bitcoin price fell to $3620, less than 24 hours, once again fell 17%.

Bitcoin on the dollar’s recent price trend (source: Wall Street Horizons)

Only 11 days, bitcoin has dropped 44%, the market value of the evaporation of 486 billion dollars , compared with this figure, really sad is from the end of last year, with the rise of bitcoin rush to get participants.

Blood of the miners

The day before, a picture of the brush machine sold on the pounds burst circle of friends, this is true or widespread?

According to btc.com statistics, 2018 years 10 months 4 days, bitcoin the whole network is the highest, about 74.54EH/s. In November 25th, bitcoin, the whole network is reduced to 42.09EH/s, lower 32EH/s, or up to 43%. According to this year’s most popular ant mining machine S9 computing power is 13.5T, is directly off the 2 million 370 thousand S9 mill.

Such a huge data, the downtime storm, sold on the pounds is not entirely the case.

Fish F2pool founder and co-founder of the Cobo wallet Mao said recently, at present its competition has entered the white hot stage, for example, I got a DCR today over 1 mills, Taiwan, 2.4T. A month later, another vehicle launched 6T, a couple of months later, introduced a 45T, power consumption is about 10 times improvement. Everyone is very competitive, and its chip 3 to 6 months for the two generation. Many miners suffered huge losses. The beginning of 2017, a bitcoin mining machine more than 20 thousand yuan, and today the same second-hand vehicle only a few hundred yuan.

“It is mining the most painful time, as a strong cycle of the industry, the current input-output ratio is not high. In a recent interview with several miners, we lost an average of $10 million in 2018.

The desolate mine

Photograph: visual China

Dropping coins prices, shrinking machine, as the main business, managed to provide services for absenteeism in recent months is mine, and.

The first is the supervision problem. Earlier this month the media reported that Guizhou and Xinjiang are regular field requirements outage rectification, check and accept the tax of the real name registration. In addition the mines are asked to sign the network information security work of the Public Security Department security book. In this regard, the daily economic news reporter to a large domestic mine to verify, got each other confirmed here in Xinjiang in September to clean up the Corps of electricity, now belongs to clean up to.”

The second is efficiency. “The location of mine, Yunnan, Guizhou, Sichuan, Xinjiang, Inner Mongolia, Qinghai, kyrgyzstan. A minimum of 0.38 yuan / kWh (full charge + custodian fee) “” cost price + + operation team to complete formalities “affixed to the cost price, this is your” mine “with 2000 seats, a national network of power, the procedures are complete, as the large field sales in recent months, Mr. Wang the circle of friends almost every day is such content.

In addition, the mining machine hosting customers, Mr. Wang continues to advertise, help customers to continue mining, selling second-hand vehicle customers. “To help customers 5 S9I 14T, with the official power, 5 month machine in our field today delivery, the price is too low not, dare not light plate, Mr. Wang in the circle of friends to sell.

Mr. Wang to the daily economic news reporter said, “we take the national electricity grid, to take much, have to pay much, it doesn’t matter whether you have consumed, not (mills) is to pay the electricity bills.” So, even if the price is so low, but as the currency prices continue to fall, managed to reduce customer, electricity consumption not hit in the mine own hands.

In the face of the falling market, Mr. Wang lamented to reporters,” Now the market fell into this appearance, not ah.

The new cold mill

The falling price of the currency, the old mill sold by catty, the new machine?

Earlier this month, bit, launched its own trump models, S1511600 price, performance, higher official website shows, just 5 minutes, S15 has been sold out. So unpopular sales scene, is it true? In November 22nd, daily economic news reporter to the identity of the customer to call each other to bit mainland officials, reporters must reply, “yes, 4 days to receive cash.”

Mr. Zhang also told reporters the old absenteeism:

“The official website said, on the same day he was seckill empty, I estimate is false. Now I haven’t seen a friend to buy in. Just have a friend, he is reselling its, he has more than 200 12 in machine hand, and are anxious to sell.”

In November 21st, Asia Pacific sales, bit responsible person Fan Xiaojun also made it clear that the machine is very difficult to sell.

According to the performance of S15 and the current price of money, the reporter (November 25th) estimates, ordinary people by 1 yuan /kw price, do not say its cost of 11600, the daily profit mining not only electricity, also lost 10.22 yuan. The professional field of 0.40 yuan /kw, mining for 1 years, a net loss of 9230 yuan (income minus cost 2370, 11600). There is no appeal.

According to the 25 day of bitcoin price ($3620, about 25153 yuan), the industry recognized the most cost-effective models, S9, bit, has fallen below the shutdown price (26576 yuan). The electricity accounted for more than 102%, a bitcoin prices, also do not consider the custody fee and fee.

Back at the beginning of the year, a bitcoin is as high as 100 thousand, a S9 from the 8 thousand directly pushed up to 30 thousand, now currency price ace direct shutdown, is Rainbow Night.

From November 14th 12, bitcoin price $6417 to 18:24 on November 25th, bitcoin price of $3620, just 11 days, bitcoin has fallen 44%, $48 billion 600 million in market value. Many analysts believe that this vicious spiral of bitcoin is due to the lack of basic value”.

The price of the currency collapse on the surface, behind the new mill bloodbath miners, desolate, deserted mines, all of which make the controversial industry suffered a hitherto unknown impact and change.

(this is for reference only and does not constitute investment advice, pursuant to operate your own risk)

Intern reporter | Mr Reporter | To Jiang Lin

Edit | Lijinghan

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