Bitcoin after the flash crash: mills by catty 100 thousand yuan sale was only 2000

Bitcoin mining machine: after the “flash crash” by catty sale, 100 thousand yuan is only 2000

After the quiet months, bitcoin this two days and get money ring no peace.

Until November 14th, the price of bitcoin is still hovering in the $6400 level; but in recent weeks, bitcoin plunged nearly 38%. As of 21 am Beijing time 4:30, coinbase platform bitcoin quote below $4100, hit a 13 month low.

The reporter noted, “bitcoin crash” and “bitcoin mining machine breakdown cost” two topics were recently boarded micro-blog hot search list, nearly 100 million of the total amount of reading time.

Bitcoin mining machine with currency price languishing and suffered mine: some small and medium-sized mines but mine resale liquidation.

According to the information display, after some small bitcoin mine mill hill of general waste heap in the yard, even being in accordance with the price of catty to sell scrap metal.

In micro-blog, WeChat friends, bitcoin forum platform, in recent days, losing a lot of speculators are but a “Starving people fill the land”. Even a senior game player said their circle of currency assets have a loss of more than 85%, “declared bankruptcy”.

Bitcoin decline for the year 76%

2017 at the end of the year, bitcoin prices topped $2 million, at a dizzying peak in history.

You know in 2010, a value of $25 pizza spent 1 million buyers bitcoin, the equivalent of a bitcoin value of 0.25 cents. Seven years have skyrocketed 4 million times, making bitcoin over Holland “tulip mania” and “British South Sea Co hoax”, become one of the largest in the history of human asset bubble.

(the red line represents bitcoin prices)

However, the bubble is always punctured. The whole 2018 years, bitcoin opened the “fall” mode. As Beijing November 20th 12, compared with the beginning of the year high of $19299, bitcoin decline amounted to 76%.

The prices also makes the public attention quickly subsided, bitcoin again reduced to a small circle between the speculative game game player. According to the data analysis of Chainalysis company, from January 2018 to September in the three quarter, volume of transactions using bitcoin settlement fell more than 80%.

The reporter noted that in the first half of this year, after several times after the crash in September and October, bitcoin value was relatively stable, and even had also considered relatively safe in U.S. stocks fell under the background of “safe haven assets”.

However, the evening of November 14th bitcoin prices from a sudden change in the situation, the rapid drop near $6300 to $5300, a decline of nearly 16% in 5 hours; and in November 19th at noon, bitcoin dropping from $5500, fell to the lowest above $4842, a decline of nearly 12% in less than 6 hours.

No wonder the Bloomberg sigh, this wave of selling a bitcoin looks like there is no end”.

Bitcoin “avalanche” has caused a series of chain reaction: Ethernet, currency and other currencies have plummeted reboxetine currency, the currency market value of only encryption is $150 billion, and $850 billion at the beginning of the scale far; major U.S. GPU manufacturer NVIDIA (NVIDIA) on the recent stock price plummeted, $23 billion in market value.

There are only 2000 people 100 thousand yuan

In this wave of “no end” of the crash, a well-known domestic bitcoin forum these days are “cried” netizens Shuabing washing version.

The evening of November 20th, the netizen posting said, 100 thousand yuan investment in their own currency price peak, now only 2000 yuan, equivalent to 98% of the principal kuidiao.

In the heating of the post, a second said, 46 thousand yuan investment in a few days on a loss of 15 thousand yuan.

In the main version of other posts, in these days the loss of hundreds of thousands of dollars a few friends.

The reporter contacted a senior currency circle investor wang. Mr. Wang is not willing to talk too much about the details of the investment, only said “I lose blood”, also called “poverty”. When the reporter mentioned the interview, Mr. Wang declined, “no, the heart is a little tired, I rest, hastily hung up the phone.

There are coins ring onto the game player “Buddha” route, savoring the great philosopher of Dostoevsky’s motto, a bitcoin Forum on a stream…

The platform is also fortunate because of their short positions and escaped unharmed.

In bitcoin “big brother” decline under the influence of other smaller crypto currency decline heavy. According to incomplete statistics, in the 2479 encrypted currency. The price in RMB 10 Fen have 1400 below, a penny below 611. A lot of “copycat coins, air money prices close to zero, investors lose everything.

Because of unbearable loss, many game player sold “mining equipment”, wash out the coin ring. At the same time as the dollar fell, mining income cannot compensate for electricity and other mandatory spending, making some loss of mine clearance can only be.

According to the “first-line” Tencent news reports, even some decline in the price of bitcoin has more than one machine cost breakdown. The domestic part of the small and medium sized mines have reluctantly sold its liquidation. A year ago the price up to twenty thousand Taiwan machine, second-hand sale price of only 1000 yuan.

11 20, an investment platform is said, because S9 11 2018 month contract since the ant 7 to 2018 11 16 April 10 has been unable to pay management fees and charges. According to the “hashrate cast stress service agreement”, if the 10 day contract revenue is not enough to pay management fees and charges, a force contract is automatically terminated.

Pessimistic experts: the future also fell 70%

Bloomberg and other financial media generally believe that bitcoin cash (BCH) ushered in the “hard fork” bitcoin (BTC) is one of the main reasons why recently fell.

In May this year, bitcoin appears the first time in the history of human’s “hard bifurcate” its “Sons” currency bitcoin cash (Bitcoin Cash) came into being. In the 11 month 16 day 00:40, bitcoin cash community to usher in a new round of hard branch, divided into Bitcoin ABC and Bitcoin SV both bitcoin “grandchildren”.

This bifurcation hard by self proclaimed Nakamoto Australian Craig Steven Wright (commonly known as “Australia within the circle of the Cong) initiated, the primary cause is the conflict of interest between him and CEO, Wu Jihan bit concept differences and mineral pools.

So, why the two “fork” after “bitcoin will appear with luxuriant foliage” value fell sharply?

If you take a tree as a metaphor, the bifurcation occurs after the new leaves, will compete for the limited nutrient and the original trunk. For the bitcoin community, computing power and user is equivalent to “nutrient”: a part of the original mill were attracted to the new currency to dig the bifurcation, which is to dig bitcoin reduction.

In addition, bitcoin exists bifurcation technical risk of failure, it will lead to fears, making bitcoin value fell short.

Bitcoin fell also led to the investment sector concerns.

Ikigai hedge fund founder Travis Kling said he was sad because bitcoin plummeted to did not sleep all night”.

Bloomberg analyst McClung warned that the crypto currency fell momentum may become worse, he even predicted the price of bitcoin may evaporate 70% of market value, fell below $1500 mark.

In addition, the domestic currency circle chiefs, taxi chain founder Chen Weixing also began to change the past to sing more optimistic tone.

In 19, the “new economy 2018 block chain Hangzhou summit, Chen Weixing said:

“The market may be worse than I imagined, now the market fell to 10%, then the future will fall 50%, even bitcoin prices will drop to 50% from the peak of 90% is possible.

Now is the time to admit their mistakes, we do a lot of things is not good enough.”

Once the “bitcoin’s richest” although Li Xiaolai has announced the end of the month in the 9 “back”, no longer any investment projects, but in the bitcoin plummeted these days he still Shuabing express bitcoin cash “hard fork” view.

Have been unceremoniously strong bearish bitcoin investment professionals, including the “Warren” Buffett.

In early 2014, Buffett proposed to “stay away from bitcoin, that is an illusion.” 5 months of this year, Buffett in an interview said, “bitcoin is more toxic than drugs.”

Don’t know at low tide in the circle of “naked” currency speculators, miners at this moment, can not think of the original Ba Lao warning.

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

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