Bitcoin: I am 10 years old, but I’m not happy

Who would have thought, as the king’s currency bitcoin, will collapse mode meet his ten birthday.

The data is striking: November 25th, bitcoin prices ushered in a slump, fell below $4000 mark. In the past seven days, has bitcoin prices fell more than $1700, down more than 30%, and 12 2 million dollars from last month highs, has fallen by more than 80%.

The myth of wealth, collapsed, it buried many people?

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 statistics, in October 4, 2018, bitcoin, the whole network is the highest, about 74.54EH/s. 11 month 25 days, 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.”

11 June 25, bitcoin fell again, a decline of up to 14%. According to the bitstamp platform, 25 PM Beijing time 6:24, bitcoin fell below $3500 mark. But then rebound, the deadline, at $3779.37.

Statistics show that last week, bitcoin fell, in the past seven days, has bitcoin prices fell more than $1700, fell more than 30%, from $20 thousand last December highs, has fallen by more than 80%.

Yes, the so-called money circle absenteeism are shivering, because mine is really coming.

Who broke the coin Wang bubble?

Xinhua News Agency reported that the encrypted digital currency bitcoin recently fell, experts said, this is caused by a variety of factors, many of the so-called “blockchain” project has a serious bubble, the need to guard against the risk of investment.

The industry believes that the bitcoin crash is the result of many factors together. First of all, the large block chain project there is a serious bubble; second, bitcoin market is due to the capital market, with large cash users zapan, also easy to cause sharp fluctuations in currency prices; third, is the industry the recent war, but also shaken the part of people’s confidence in the objective, causing some users panic and vote with their feet, due to market volatility.

Recently, bitcoin fell means that many projects lack of real assets in support, “the jungle”, the market was proven to be inefficient. The market clearing, “industrial chain block” era is coming, the future of digital assets and industry depth bound, market regulation will be more perfect.

IPO road resistance

Since this year, digital currency and block chain concept in the capital market is also highly sought after. Data show that the number of A shares the blockchain concept of listed company has reached 79, among them, since the two quarter has increased by 24.

But for the exchange block chain concept more cautious. Only in the first half of 2018, there are more than 20 listed companies, because of the “rub” blockchain heat exchange received a letter of inquiry. While the proposed layout block chain business of listed companies most received exchange information.

5 month 21 days, GRG announcement, subsidiary cloud information and Beijing block chain cloud Technology Co. Ltd. and other two companies jointly set up Guangzhou guangdianyoutong block chain Technology Co. ltd.. Subsequently, the Shenzhen Stock Exchange issued a letter of inquiry, the specific content of GRG block chain business model, profit scene, and personnel, reserve funds for inquiries. The development of digital currency remain cautious, the Commission has repeatedly refused to bitcoin ETF listing request.

Now the bitcoin price plunged, intends to go to Hong Kong stocks IPO “the world’s largest virtual currency mining machine chip manufacturer”, and what are the bit position?

According to the prospectus, bits of data, the first half of 2018, bit mainland to achieve total revenue of $2 billion 850 million, net profit of $952 million. It is worth noting that its sales revenue, bit for $2 billion 683 million, accounting for the total revenue of 94.3%.

Bit, prospectus, bit, total assets of 31.64 billion dollars, encrypted monetary assets accounted for 28%, including bitcoin, bitcoin cash, coins, currency and Ethernet to Wright currency. Effect is highly dependent on mining revenues, holding a lot of money, will not be encrypted bits from the bitcoin crash.

Prospectus, as of June 30, 2018, the mainland bit hold the encryption currency for approximately $990 million, including a $103 million encryption currency asset impairment, accounting for about 10.37% of the total value of. In addition, the net flow of cash from operating activities, bit negative 6.22 billion dollars, business activity does not bring positive cash flow.

Look at the Chia Nan Yun Chi ranked second, the world’s second largest bitcoin mining machine manufacturers. Last year, net profit of 3.6 billion yuan, over the past two years, its revenue growth of nearly 30 times the net profit growth of more than 200 times! Make money hand cramps, but to seek listing of the road is extremely bumpy. In 2016, Jia Nan Yun Chi hope gem company mergers and acquisitions, but due to the high valuation, high performance promised by the Shenzhen Stock Exchange letter questioned, ultimately failed; after the application listed on the new board, because of “money” ring is too messy, and shares of the company declined; years via Hong Kong stocks, now also suspended…… The Hong Kong Stock Exchange website latest information disclosure, Jia Nan Yun Chi of the listing application has expired. Although failure is not a failure, but failure to declare listed in the 3 months after this year, certainly not listed in Hong Kong.

As of now, Chia Nan Yun Chi did not disclose the first half of this year, to know the effect of currency collapse on the circle of how much, but in September the Hong Kong stock exchange to submit the prospectus bit, disclosed the first half performance, revealed its producers winter survival under the current situation. Bit, should there is not a small loss in the two quarter, may be around $400 million. Bitcoin price determines its price, also decides the prosperity and decline, making money is not good, a bit, in the prospectus data has indicated that all.

And, according to Reuters, the Hong Kong Stock Exchange and model and Prospect of Hongkong’s financial regulator of Scarlett Nan Yun Zhi questioned. Bitcoin price determines its price, also decides the prosperity and decline. This coin circle continues to fluctuate, even the mining giants of the day is not so good.

In fact, not only the mainland, Chia Nan Yun Chi bit, also grab in Tianhe International tide before landing in the capital market.

But until recently, Tianhe International traced involved in “silver bean net” non absorbing case, in the critical period of the state listed international, IPO road twists and turns of fear. The investors said, the silver bean network control Li Yonggang’s wife Cui Hongwei had billions of large financial transactions and international ebang.

In this regard, Tianhe International Executive Director Wang Hongyong on behalf of the investors and regulators said Cui Hongwei to buy cloud computing server ebang. It is worth noting that the Ebang international prospectus, in 2017 to achieve revenue jumped 878%. Tianhe International said the high growth rate is due to the 2017 business center transferred to BPU. Public information, 2015, 2016 and 2017 12 31 April 2007, 5 to Tianhe international customer BPU buyers, the largest customer each year accounted for 34.6%, 20.6% and 12.1% of total revenue, total revenue of 9.78699 billion yuan. Cui Hongwei and Ebang communication 2017 to complete the single 144 million 900 thousand yuan transactions accounted for 14.8% of total revenue consolidated statements.

Investors believe that if the deal with Cui Hongwei allegedly inflated income, Tianhe International Revenue in 2017 may be greatly reduced.

To be sure, bitcoin pit buried in many people? This figure is probably shocking.

(Tencent, according to public information review)

Disclaimer: the content and view for reference purposes only and does not constitute any investment advice, investors operate your own risk. Everything about the accurate information related to listed companies, please to exchange announcement. The stock market risks, the market need to be cautious.

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