Bitcoin slump caused by the mine, facing the mainland $1 billion bit digital currency program listing shrunk

11 Beijing time June 21 at 4 point and a half, Coinbase platform bitcoin price fell to $4100, a record low since 13 months. In the decline, as of press time reporter, bitcoin prices hovering around $4500. In the past 7 days, bitcoin fell more than 29%.

As of November 21st, bitcoin prices since the beginning of 2018 has fallen about 66%. Bitcoin out about $19000 high in December 2017 after less than a year, bitcoin prices fell to about 76% in September 4, 2017, and the supervision of full stop ICO when prices were unchanged.

In this “no end” of the crash, bitcoin mining machine with currency price fell and suffered mine”. According to media reports, the distribution in Xinjiang, Inner Mongolia and other regions of the many small mines will choose its resale bitcoin liquidation. After the picture of the mill hill of general waste heap in the yard, a year ago the price of up to twenty-one thousand units of the vehicle, the second-hand sale price of only 1000 yuan, even being in accordance with the price of pounds to sell scrap metal.

Source: micro-blog platform This round of bitcoin prices plummeted, the new currency focus events continue to ferment BCH. Some experts pointed out that the new currency BCH is a new chain to produce new rules in the new block capacity, because bitcoin has shaken the intrinsic basis of bifurcation hard bitcoin bitcoin, greatly weakening the advantages of the product BCH and bitcoin competitive relationship, or will continue to affect the trend of the price of bitcoin.

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 94.3% of the total revenue.

One industry in an interface news interview with reporters, its production is (bitcoin chain) of the upstream industry, the impact of mine closure will further affect vehicle sales, ore pool, holdings of digital currency assets (value).

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, net flows from operating activities, cash bit is negative $622 million, business activity does not bring positive cash flow.

The media reported that since 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.

BitMEX exchange in August had issued a report on the bit, research report, the report said: “a bit, or need to improve the management team of company resources management. Once the company is listed, it will be very difficult for capital allocation decisions in this unstable and unpredictable market.”

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