Bitcoin collapsed in less than a year fell 80%! The coin has run circle chiefs

(original title: bitcoin collapse, less than a year fell 80% yuan, has run circle chiefs)

The coin ring bear market intensified.

Look at the screenshot circle of friends:

May be a joke, but reaction currency circle status — seven years of two vast currency speculation, loss first car, after thousands of dollars for housing, limit, nowhere bleak!

Investors said bitcoin five days fell $1000, at the beginning of the year to buy 20 dollars, now losses will exceed one million.

The netizen comments:

Too much money a few years earlier wire-o x, the return value of this group of people just let streaking cool acid. What stocks all day hell?

Less than a year, bitcoin fell to 77%

What is the situation?

Tuesday (November 20th) bitcoin fell below $4700 mark, the lowest reach around $4218, a record low. The same day, bitcoin quotes within 24 hours or more than 17%. In the past 7 days, bitcoin fell more than 22%.

Since the beginning of this year, bitcoin has fallen 66%. From 2017 years 12 months high, less than a year, bitcoin fell to 77%.

According to data, since the 1 month peak cryptocurrencies industry has depreciated more than $660 billion.

From last week, along with other mainstream bitcoin digital currency fell pudie. The top ten digital currency mostly showed double-digit decline. The whole digital currency market in the past week to erase at least $40 billion.

Mining wave receded, some stocks fell

The bitcoin continued to decline and collapse of mining plant, some related stocks fell.

As of Thursday, NVIDIA chip stocks three days down to 20%. The third quarter results, NVIDIA Q3 revenue of $3 billion 180 million, an increase of 21%; net profit of $1 billion 230 million, an increase of 47%.

NVIDIA will be attributed to poor earnings performance crypto currency mining boom retreat. With the mining boom subsided, the market demand becomes low.

NVIDIA CEO Jen-hsun Huang said, “money boom” encryption hangover effect “lasts longer than we expected, we also feel very surprised, but it will eventually be in the past.”

The breakdown machine cost, small and medium-sized mines liquidation

The virtual currency fell continuously at the same time, its market also will suffer.

According to Tencent first news, even some decline, bitcoin prices have more than one machine breakdown cost distribution in Xinjiang, Inner Mongolia and other parts of small and medium-sized mines, in the currency price continued to decline, but its secondary winding has been sold.

Among them, a year ago the price of up to twenty-one thousand units of the vehicle, second-hand sale price of only 1000 yuan. Similar, and the liquidation of the mine in November 20th, there is a hosting platform also issued a liquidation announcement. A force is investment platform said, because ants contract S9 from 7 to 11 months to 2018 years 2018 years 11 months 16 days has ten consecutive days 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.

Elite Fixtures earlier through the comparison around the tariff level, based on S9, S7 and Avalon ant mills around the world 6 to draw a bitcoin mining cost.

At present, bitcoin price has been lower than the cost of mining or approximation in many areas, that profits have the opportunity or loss. Among them, Hongkong Chinese cost $7930, nearly losing level. In addition, as the main mining site, China cost price is $3172, there are still about 7 returns, but compared to the end of bitcoin high of 19 thousand dollars, the times gone or make picture.

(photo: Elite Fixtures)

According to Sina News, Jia Nan Yun Chi machine manufacturers listing application progress for 6 months no failure, market news that regulators of its business model and its future in doubt, the year the market plan fell through.

Two other vehicle business — the Tianhe International City, and bit, may suspend the IPO process, yet this year to pass Ebang listed; bit continent is still in question answer regulators.

“Macao Satoshi”: no digital currency,

Only a fraud

Approaching a record high of $20000 at the end of 2017, bitcoin began more than yindie.

The “hard fork” is regarded as the bitcoin crash “fuse”.

The so-called bifurcation, as a crypto currency for the original encryption technology community consensus currency differences, in the original chain points out a new chain, and thus produce a new currency, and differences in the technical route is behind the conflict of interests, stable operation and transaction of bifurcation force can affect the other currency, it is also the cause is the battle to compete for dominance split coin.

According to media reports, the “hard BCH bifurcation” was initiated by claiming to be “Macao the Cong long Australian Craig Steven Wright, and BCH within the community” struggle between BCH loyal defenders — bit continent CEO Wu Jihan “. The two sides play “battle”, hope to influence each other encryption currency stable operation and transaction by force.

Under this background, the “hard BCH bifurcation” under the “war” need to consume a large amount of its work force, causing periodic stress fluctuation, to cast a shadow on the stock market, bitcoin holders worried about attacking each other in the BCH will spread to bitcoin, rising risk aversion, the sell-off intensified, making the already there has been a digital currency market atrophy of the blow.

In November 20th Australia Satoshi tweeted that:

If you want to exchange encrypted currency, also can actually look forward to the price soaring HODL (Chibidaigou), I will be your worst nightmare.

Everything is over, bitcoin is a kind of commodity classification, eventually return to money.

Don’t have what “digital assets”, only fraud and sound cash, make a choice.

The regulatory layers of overweight

Digital currency collective slump is another reason why the regulatory layers of overweight. The industry believes that virtual assets included in the regulation of its legalization, this is a direction of global regulation.

In November 1st, China Hongkong Securities Regulatory Commission issued for virtual assets regulations, virtual asset portfolio management company and virtual asset fund distributors under the regulation of the Commission, requiring more than 10% of assets (AUM) is a virtual assets of the fund, only for professional investors, sales, investment funds and any virtual assets brokers are required to be registered with the sfc.

In November 16th, the United States SEC (SEC) announced that no two penalties will be the first token offering (ICO) as a securities company registration encryption currency, and issued a “digital asset securities issuance and trading statement” on the same day, the issuance and sale of digital asset securitization digital assets securities trading exchange registered brokers and especially dealer registration problem in detail.

In November 19th, the U.S. Securities and Exchange Commission announced the first civil penalties for violation of the provisions of the founder of encryption. The two statement issued by the U.S. Securities and Exchange Commission shows that two ICO token is regarded as unregistered securities, and the number of assets is the securities of a statement.

Although the two ICO project for reconciliation with the United States SEC, agreed to fill the securities register and pay the fines, while the return of funds to investors, submit regular reports to the SEC, if investors filed a lawsuit, they must also make compensation. But the United States is typical case law, for the first time since the decision will affect the direction and scale of penalty cases, the verdict was clear, affecting investor confidence for encryption currency.

According to the surging news, Washington law firm Stepehn Palley believes that the relevant test involved may be applicable in the past 95% years. The judgment of the ICO project.

The blockchain risk investment fund Castle Island Ventures Nic Carter is full of ICO project: it is recommended to stop mouthing sales or refund to investors listed token.

The virtual currency into the hardest hit by hackers

One of the reasons for the virtual currency security problems but also the continuous drop.

Recently a number of block chain security company claimed that the virtual currency by malicious attacks. In November 14th, slow fog security team pointed out that the etheric Fang (ETH) the presence of malicious consumption Gas attacks.

In November 12th, Beijing chain security news release, the recent series of gaming contracts based on EOS attack, Luckyos, EOS.WIN, EOSRoyale, DEOSBET, FairDice, EOSDice, EOSFFgame and other security issues have burst.

Recently, the EU Member States Treasury Secretary believes that the overall lack of transparency in the digital currency, may be misused for money laundering, tax evasion and terrorist financing.

The US Securities and Exchange Commission (SEC) has not yet been approved for listing on the virtual currency ETF, also mentioned two major concerns: manipulation and market supervision. French Financial Market Management Bureau and the U.S. Securities and Exchange Commission has warned investors to be cautious, virtual currency investment unregulated.

Coin circle chiefs have disappear.

Previously, with the digital currency bear away, there are a number of coin circle chiefs announced to retire.

In October, the founder of Ethernet Fang “V God” when asked whether he would take a back seat from the etheric Fang on the future, “V said,” God “is already underway, most of the work is now completed by the partners.”

In September 30th, once known as the “bitcoin richest man” Li Xiaolai announced at the micro-blog withdraw money ring, said he is no longer a project investment, ready to switch.

8 months, a number of media reports Xue Manzi 90 “disciple” zhupan suspected with ZJLT (Ultimate Books) project cut chives. Subsequently, zhupan declared: “the permanent withdrawal from the currency, not shirk any responsibility, I am sorry, I have a clear conscience all along!”

In January, Xu Zijing announced that the Martian circle of friends, “Mars back to Mars to retire! Goodbye, block chain!”. At the same time, he also said that the indefinite exit all foreign investment and project consultant.

Digital currency market shift

Bitcoin market in this round of frustration, analysis of its value at the same time, also in the analysis of the turn signal may represent the market.

According to the State Bank Chinese train, former deputy governor of Chinese, new supply side economics 50 forum members Wang Yongli believes that bitcoin is not real money, the reason is as a kind of network currency, application scenario is less, and should play a measure of value functions of money, the most fundamental requirement is to keep the value of money is relatively stable.

Wang Yongli said that if the currency is volatile, the social economic exchanges will be a mess. Obviously, the current bitcoin in terms of currency stability, is still not satisfactory.

But Wang Yongli also stressed that bitcoin is not real money, does not mean it has no value, like gold currency exit stage, does not mean that it has no value.

China financial institute, the people’s Bank of China former governor Zhou Xiaochuan recently pointed out that according to the existing concept of digital currency into digital currency and central bank private sector digital currency, digital currency can also include public-private partnership.

In the above distinction means that digital currency and the development of electronic payment may be a variety of parallel development, before the competition, but also to the regulators and the central bank presents a challenge that the future is uncertain.

KPMG Goldman UBS collective bearish

It is worth noting that some institutions have bitcoin plummeted as an important signal of the bear.

KPMG (KPMG) warned last week that in bitcoin and other encryption currency has not yet been classified as legal tender cases, to be used as a store of value is a “stupid”; encryption currency and asset boom to “system management”, which is expected to achieve this year, but did not see the old concrete measures landing, so global banks and financial institutions are on the sidelines, waiting for regulatory action.

Merrill Lynch had released analysis report, part of the assets of the crash a week after, the market appeared “flash crash” (flash crash) the risk is rising; once encrypted currency bitcoin once fell, oil prices fell, and investors to buy stocks are regarded as safe. Many asset classes increased volatility, including oil market, the market in recent weeks the rapid deleveraging, are bearish sign may further hit.

Rui Yin (UBS) in a report earlier this year that this kind of encryption of electronic currency bitcoin currently is in a “speculative bubble”, they simply can not become the mainstream of currency.

Goldman also on digital currency gives a negative attitude, “from the most key characteristics of currency, gold should be better than encrypted digital currency”. Goldman Sachs believes that used to store digital wallet encryption digital currency is vulnerable to hacker attacks, in addition to its significant regulatory risk.

From the comprehensive

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