Bitcoin fell to 78% to return to the price of a year ago, “bit force war” referred to as the fuse

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In November 21st, bitcoin prices fell below $4300, is refers to the breakdown mill shutdown price, compared to nearly $twenty thousand in the 52 week high has fallen by 78%, essentially flat with a year ago in September 4th when the price regulation full stop ICO.

Bitcoin prices experienced in 2017 soared nearly 20 times, from the beginning of the year to about $1000 at the end of the 12 rose over $19500, after experiencing a huge decline, for months in the mining cost of electricity price fluctuation above $6000. At the beginning of the year, currency prices generally fell 70% encryption. 11 month, bitcoin prices fell below $6000 mark and dropping all the way. According to the statistical data of CoinMarketCap weighted, bitcoin currently rebounded to around $4450.

There have been recent analyst suggested that bitcoin prices risk, or is expected to have an impact on the market. Bloomberg analyst Mike McGlone said bitcoin cash (Bitcoin Cash, BCH) bifurcation event is the money market hard encryption crash fuse, bitcoin prices will continue to fall more than 70%, to $1500.

This round of bitcoin prices plummeted, the BCH bifurcation focus events, so many falls in reason, proposed Hong Kong IPO mine tyrants bit mainland to participate in bitcoin cash bifurcation event is refers to blame.

The birth of bitcoin cash BCH is initiated by the leading bit continent and its founder Wu Jihan, according to the prospectus, bit, encryption of monetary assets including bitcoin cash BCH, some analysts pointed out, Whalepanda bit shot bitcoin, held over 1 million BCH. The failure in Jia Nan Yun Chi IPO machine business, 2018 listing plan fell through, and in Tianhe International Silver bean network “illegal fund-raising encryption storm, money market stormy, the prospect of giant machine bit is discussed in question.

The BCH itself is encrypted currency in August 2017 from bitcoin hard bifurcation, then expansion block storage capability, solve the network congestion problems in bitcoin height of 478559, from the “backbone” bifurcation BCH block chain to produce 8MB block size.

The BCH bifurcation is due to hard bits, the associated BitcoinABC team intends to increase the standard transaction ordering of Block Trading (CTOR) and a two increase in the operation code. At the same time, the Australian CSW nChain support team intends to continue to expand both the block size, in order to obtain the dominant position of BCH design specifications, sparked a “war force”.

According to the analysis of block chain practitioners, the first step of this round of decline is to avoid panic caused by the uncertainty caused by the loss of the BCH bifurcation and the second steps down, have yet to see a reasonable explanation. Effect of split BCH community consensus, the core bifurcation to the center of the original focus or not is caused by war force.

Is the competition will be depleted of their capital, BCH and bitcoin shall apply to the same kind of algorithm, by the same ore mining, and in the same calculation cost, to dig bitcoin and bitcoin cash income in the calculation of force be quite different, therefore, need to burn war, bit bleeding.

At present is to force war, bit associated BitcoinABC team to win for consensus, congratulations Wu Jihan also issued a document. But from the beginning of the November BCH price above $600, floating around $230.

According to the prospectus, bits of data, as of 6 may 2018 years on 30 bit, total revenue of $2 billion 850 million, net profit of $952 million. The vehicle sales revenue accounted for 94.3%. In addition, bit, total assets of $3 billion 164 million, encrypted currency assets accounted for 28%, including bitcoin, bitcoin cash, coins, currency and Ethernet to Wright currency.

Bit continent revenues are highly dependent on mining assets, currency prices affected by encryption. As of 6 may 2018 years 30, the net operating cash flow is negative $622 million, business activities did not bring to the company’s cash flow, this bit, explained that due to the company’s business can encrypt the currency settlement, received nearly $750 million in crypto currency, not included in the net operating cash flow. Therefore, in terms of revenue, currency price will also affect the performance of the bit.

The prospectus shows that the first half of the year, the 103 million bit digital currency dollar assets impairment, or currency circle bear market will also affect the bit, and its sales. In addition to its business, including mine, bit pool business, which owns the mine pool BTC.COM and ant pool, also plans to develop overseas mining business, self mining business accounted for revenue from 20.3% in 2015 fell to 3.3% in 2018,

Bit, ASIC machine chip production mainly rely on S9 S7 16nm technology and ant miner, in 2015 reached 80% market share. Since three years, did not achieve a major breakthrough in the bit machine, still by S9 machine as the main force, was due to the loss of key personnel. For a bit, development and design of S7 S9 machine, Yang Zuoxing has run away, bit, a bit machine to catch up what created the microstrip. According to public information, issued at the beginning of the V9 ant mill dismal sales, a quarter of its stock of $1 billion 200 million, including V9 mill.

At present, the bit, bet on 7Nm technology and the AI chip is TSMC 7Nm chip customer orders. In November, China announced the sale of bit 7 nanometer process chip machine S15, it is up to 28TH/S, the energy efficiency ratio is 57J/T. Jia Nan Yun Chi and is already preparing for the 7 nanometer process of the dispute, the U.S. chip giant AMD, a Japanese Internet giant GMO are incoming, bit, winning no set number.

At the same time, bit, production costs in the first half of 2018 increased to $1 billion 500 million from $93 million 700 thousand in 2017, to lift into the AI market but AI chip business revenue accounted for less than 1%.

According to the Hu Run Research Institute released the “blockchain rich list”, bit, Jahnke group and Wu Jihan respectively to 295 billion yuan and 165 billion for the top and second bit, 34 billion wealth Ge as the only entry of 90 Yuesheng. The list of 14 people, Yun and Jia Nan Zhi bit, list the number most, respectively 5 and 3.

According to the previous bit mainland confirmed that the company is currently restructuring of the board of directors. Business information, Zhao Zhaofeng, Ge Yuesheng, Zhou Feng no longer serve as a bit, director, Hu said the outgoing board of supervisors. After the change, Zhan G group as executive director and manager, supervisor Wu Jihan bit. Prospectus, Jahnke group and Jihan has more than half of the bit, Wu shares. Zhan G group holding 36%, Wu Jihan holding 20.25%, 6.26% shareholding Zhao Zhaofeng, GE Yuesheng holding 4.18%%, Hu said, holding 4.18% equity incentive staff holding 0.72%, 18.47% shareholding Song Wenbao, is expected to introduce foreign stock investors shares accounted for about 9.94%.

In November 5th, tiger securities App end of the temporary code now, bit, code 90027, was listed by suspected, bit, had said this no comment.

(Editor: Zhu Di)

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