Closure of the quarry, capital ashore, coin circle through the bear market at low tide, unmanned area

 Closure of the quarry, capital ashore, coin circle through the bear market at low tide, unmanned area

42 birthday, Liu Cong announced that the mine operation failed.

People say forty and perplexed, this year Liu Cong in order to find the electric field, with the client’s more than 200 bitcoin mining machine, mine investigation through 25 provinces, 87 City, 3932.2 km journey, but at the age of 42, he could not find the answer to life rich in block chain in the world.

In winter, 798 in the town of Carmel bar a voice, sun Hao Ran sitting in front of the daily planet Odaily, the memories of those flickering lights at night half a year ago. Then the young man sitting in his coin ring bar, confident and assertive, opening about the project “little 34 million, more than three hundred million or four hundred million”. There are silent investors, one night the hand cast three or four projects.

The memories of those coins ring high light moment at this time had become dim, lively lonely, people rarely appear in the circle of money his bar.

Since February this year, the coin ring with the market continued to fall into the “bear market”. The first people optimistic estimates, cattle have bear, bear end is a bull market. But did not think that the bull market to light today more and more slim, dark bear are getting heavy. In November 20th, bitcoin fell below $5000 support level was lowered to $4100. 9 months ago, bitcoin highest exceeded $19 thousand.

Some people say that after the last round of the bear market, this is the beginning of the bear market bitcoin fell 2.

Now the dissolution of the company, Liu Cong picked up his return to Guizhou to rest. Was a smash hit in the bull market in the town of Carmel continued in 798 with the lonely bar. Some hunters in the second half of the year the market bottom in several people, dead or alive.

Some people say that the bear market has not had. No one could imagine that, to the dark moment will be like.

Mine owners powerless

“After 1 months, the market price of money is not so good. There is also a test for 2 months, then the amount of mining block is good, even if the fall is also a certain degree of income. 3 months, bitcoin prices fell below $5000 when the jittery.” Liu Cong said.

As the first batch of bitcoin miners, Liu Congceng because the mining earn a sum of money. In 2017, All in block chain into the circle of the trend, Liu Cong gave up the traditional Taiwan financial industry, came to the mainland to do business machine hosting the dream of freedom, pursuit of wealth.

However, after the Spring Festival, until today, in the circle of coins falling state.

This side, revenue is shrinking, the other side, it pours. The second half of the year, Liu Cong suffered many mine plant hire power supply instability and its difficulties, Liu Cong in the hands of the more than 200 ant S9 can not boot operation, no customer mining cannot return, Tian Zhelian customers earn money.

Stop one day, the loss of money one day, and its maintenance cost is rising. In order to find Liu Cong, from Tianjin, Henan went to Shanxi to Yunnan, Inner Mongolia, Hebei, Taiwan 200 mills also followed him everywhere bumpy, but maintenance cost is always higher than the income, finally powerless.

Dutch act idea had sprouted the mind, the final result is 6 months, decided to suspend the operation of mine, Liu Cong began to be part of its return to the customer, the other part are to assist customers to sell trust.

At that time, in front of the daily planet Odaily Liu Cong, the body fat a crumpled outdoor clothing, black shoulder bag on a thin layer of dust, hair disheveled, two young working partners with him walking in the street, like “learn” the failure of mentoring.

Back the tide

The bear is slowly coming.

March “Li Shiqin” “fantasy” generation investment fraud over the 140 thousand ETH run away incident, makes the investment and retail the fragile trust connection more shaky, people see more and more money to break the block chain project.

From the beginning of July, 798, the bull market is located in the town of Carmel bar coin circle where the party every Friday dinner has not opened.

8 22, the Chaoyang District government issued a paper called the shopping malls, hotels, hotels, office buildings and other virtual currency to promote propaganda activities documents, field activities had almost a day roadshow will stop. This is “on the eve of the first anniversary of the 1994” fengshengheli.

In July 9th, the people’s Bank of Chinese held the stage of Internet financial risks under the deployment of special rectification mobilization meeting. The people’s Bank of Chinese vice president, director of the State Administration of foreign exchange Pan Gongsheng said that for the first time and the financing behavior of all kinds of tokens issued, disguised, involved in illegal fund-raising and illegal issuance of securities, to do “outcrop”. The project side as far as possible in the low-key, meetup, its frequency to visible speed is reduced, someone said the project in the church to see the figure.

It is more difficult to miners.

In July 21st, Xinjiang relevant departments to enforce the power of repaying the illegal mining enterprises, and completed before August 30, 2018. Supervision in the upgrade, with bitcoin prices decline, increased the difficulty of algorithm, once mighty crowd of miners are getting lost.

The media are not better than the day.

8 21 April evening, the “Golden Finance Network”, “world currency news service”, “deep financial chain”, “cannon rating”, “fire currency information”, “daily coin reading”, “TokenClub”, “Wu De blockchain to block chain, digital currency and other fields from the media the public number was WeChat’s official title processing.

In a month ahead of the storm, the public number “shenchuang chain” issued a final push.

The regulation is not the straw that broke the camel, the bear market is not to see the dawn.

The anxiety in the bud ring coin on social occasions. In the circle, office, save bureau, is the most common way to socialize, but the participants and the office will heart are all thinking. Because the media do, “a deep chain” executive editor of the sleepy circle met a lot of people to run the venue occasionally, save some dinner.

But this time, feeling sleepy each block chain community are all dead.

Bear, give up a chain of deep feeling sleepy, “too hard to survive are feeling.”

This is the current block chain media, but also status of each project party.

In the block chain project “bear market”, the emergence of the army without sources of financing are difficult to support, the harvest to the investment side although there are provisions, but also in worrying about the future.

“Hunger” under short fireworks

Not all is quiet time.

In July fomo 3D explosion of red, this seemingly perpetual fund game brings new speculation trick in the long bear market, the last DApp to attract so many users attention, or encryption cat.

Retail investors have hunger? The amount of fomo3d users within 24 hours to increase more than 150%, turnover rose 1500%, ranked a list of active DApp Ethernet fang. The number of total investment in the visible, has produced over 80 thousand eth single transaction, conversion, in this small platform, has generated hundreds of millions of dollars of cash flow transactions, not on the number continues to grow.

In a burst of red before, Wang Hao had noticed fomo 3D, for the fun, he made a China version of fomo 3D with the company’s technology plan. Before the preparation is good, on the fomo 3D media reports “overnight overwhelming”, Wang Hao felt the time of emergency tremendous opportunities, so to discuss some functions of the original fomo 3D cut technology, the mechanism of 24 hours to 12 hours, in the fomo 3D night rushing, third days will burst red Lite line.

Did not seize the opportunity early admission of retail investors hungry for too long, in a class of fomo 3D in the game to become the next lucky, Wang Hao’s company on the copycat version of fomo, only rely on the game developers participating will get hundreds of Ethernet square, as a sponsor, Wang Hao points to the half.

The effect of fomo 3D, more and more gaming Dapp appear on the market, but the later admission back to the more difficult, perpetual motion after the power is insufficient, the prize pool of funds is often hackers covet, eventually become a geek in the game program, so bear, block chain game is also difficult to escape the fate of the lost.

But the market will never lack of public speculators, previously star chain EOS hot, because the drag parameters of the Bancor algorithm is the core resource of RAM defects, the existence of arbitrage, in July, EOS RAM experienced a short period of arbitrage speculation.

Origin of the Tsinghua University serial entrepreneurs are the beneficiaries of RAM currency pool queen, her friend saw early EOS technical documentation in the community, aware of arbitrage opportunities after the time to seize the opportunity, and tell the circle of friends, if not too early exit, turn ten times and not too difficult.

But this carnival published in EOS founder BM about after the three step to solve the RAM price blog gradually fell RAM, enthusiasm, memory allocation from the previous 80% to 76%.

As the night of fireworks, bright but very short, only standing in the Highlands had the chance to see the best style, when the last spark of annihilation in the darkness, they fell into silence.

The capital fund turned pimp hibernate “

Once the birth of block chain industry bubble speculators crazy the initiator of evil, in addition, there Everfount influx of capital market. Digital currency hot, barbaric growth of various types of investment funds in the market. Crypto Fund Research report, 2017, the market established a new branch of 130 digital monetary fund, far more than 2014 to 2016 3 years total. The media is expected 2018 years there will be a new fund, 147.

The reality is true. The investment fund industry is indeed present over the bustling scene, in addition to small fund crazy growth, coins, coins, such as an OK three head exchange also rely on its exchange business endorsement, have set up their own investment funds, money continues to pound the blockchain tuyere.

Before the Spring Festival, Hu Hui from a line of dollar funds away, came to the blockchain circle early investment fund investment manager.

Talking about the investment fund chain block dragons and fishes jumbled together circles, from the regular army Hu Hui quite a bit of disdain.

“From a professional investment in terms of investment funds than the traditional VC in the professional degree difference very much. In the bull market, what is not even need to consider the value of the project, as long as you can in a year to coax these new leek on the line. In fact, there is a lot of some currency speculation people hoard a pile of coins have nothing to do, began to turn to the investment project.”

Hu Hui realized that, different from the traditional VC market, the market seems to block chain is always a place to make quick money: “traditional venture capital circle project from A IPO is listed, at least 3 years experience even half a decade, this is a long process. But money is not a circle, from the currency exchange to unlock, within a year can be almost finished, money too fast.”

This point, have the same feelings in a well-known capital investment research department at Yang Lin: “we are eager to cash, you don’t hit, hit others. So the market into a fast market, who run fast, so who will be able to get a better return.”

Have a circle of friends to Lihua capital founder is directly pointed out that the investment funds face the dilemma: “2018 Token Fund rate of return, in accordance with legal tender standard, -80% is normal, -60% is qualified, -40% is excellent, -20% is the top of the -0%, is not cast off the.”

The bear came, the project party hands raised to the crypto currency began to depreciate, to seek a new round of financing to live. The carnival scene with the bull market capital is different, capital is the first step to enter hibernation.

Of course, the capital paid to do business, “lie flat real” and “investment” has become a consensus to protect their capital. Hu Hui obviously felt, on the hand of investment funds is constantly tightening: “one began to think that just two days which, later found that the market has not been good, it has not been cast.

The wind, the capital they have on the shore.

“Me some funds are beginning to change. Some small capital investment and investment research, the original ratio is the ratio of 1:1, now almost all of the investment has stopped, research has stopped.” In the industry, Yang Lin also feel the impact of the bear market to the capital market. He said, go, do BD, “pimp” became a small fund in a bear market survival way.

But even if Yang Lin served the company in terms of capital or the background of strong strength, Yang Lin can still feel the bear on the investment strategy of the company, do incubator is a new mode of derivative to bear.

Yang Lin, the main work is to help the project incubation, the formation of the economic model, modify the white paper, to provide opportunities for foreign capital and roadshow, extracted from the corresponding Commission, compared to the rate of return on investment, income and investment income obtained by incubation compared to far.

“Before relying on investment may look to get 20 times earnings, but the risk is very high, is likely to lose. Hatch although returns limited, but more secure. Whether the project sent us currency is up is down, we can get economic returns in advance.” Yang Lin said.

Similarly, Hu Hui also in the preparatory work related to hatch. But he seemed to see clearly: “hatch is a pimp? Plainly, the party’s appeal is the core project of financial money, hatching is actually save a thing to come out, help the project into money.”

The routine of deep sea.

To the sea, there is a risk averse choice.

In addition to hatch, Yang Lincheng’s own capital are basically no longer any domestic investment projects, it is focusing on the United States, Japan, South Korea, Southeast Asia and other overseas projects.

“Chinese too will play business model a set of things, after offering cheap, is a little project will surely do it according to the white paper, compared to foreigners is still relatively solid point.”

In June 2018, Zhang Lu venture, the main force of cloud computing business. Zhang Lu’s admission, the market is not optimistic, so in the beginning, Zhang Lu will position their business to the overseas market, at present, more than 90% of its users are from overseas.

“The current domestic users for currency speculation play is known, currency speculation Kuaijinkuaichu, gambling, so more people to participate in. Mining enthusiasm is not so high.” Zhang Lu said. Overseas customers generally on the digital currency earnings results see more light, “probably because the permeability of digital currency in Japan is very good, we are now the largest user groups in japan. Because of many factors such as social welfare, in their hearts, mining annual income reached 10% or so has been pretty good.”

Today, the tide is still bearish wave higher than the wave of surging, immersed in the coins in the city some people still struggle, most are a little overwhelmed.

“I don’t want to go to earn 3 hundred million”

What did the bear market bull market has get excited over a little thing, a bear, which is the market law of nature. The market is continuously evolving, if most people are still speculative, only that the bear market is not out of the bubble, the bubble clean after digestion in order to succeed.” Hu Hui said. He did not want to be forever when a speculative upstart, hope that through this round of the bear market, things of value, respected.

Bear, Hu Hui found life and the normal working condition. In his words, these days, he can fall in love, they can dive down to the research on the investment trend, and the real situation of each project, Why not?.

Wang Hao had a nine to five office workers living in the investment institutions to start financing intermediary. He gave a line of English class, every other day, every morning, listening to BBC, my boss wants him to go abroad for development projects, he want to equip themselves with knowledge. He is not concerned about how the blockchain game, he felt imitate never can not earn a lot of money. Although the salary is not high, but he also think: “money is too easy to float. I’m fine, because when I was floating to the bear came.”

The market is cold, the surgeon Guo in the digital money market investment has slowed down. Before that, through his own investment philosophy in the currency circle to achieve the 10 times earnings, but also became the “currency” of the columnist.

Liu Cong in order to reduce the cost of living, in turn off the field soon after moved to Tianjin from a remote town in Guizhou. Here, Liu Cong to 1680 yuan per month the price of the entire rent a 100 flat house, office, living all arranged in this house.

“Cut.” He said.

At the end of October, Guizhou at half past three in the morning and the temperature of 12.8 degrees, Liu Cong sat in a small desk, standing on top of the four screen tireless running, a look at the K map, do quantitative trading, the market price of a currency grab changing, a special look at the various kinds of network news media consultation also, a screen is rolling on the contents of all kinds of social communication……

“Do you know FOMO Fear, of missing out. The whole industry is great, it will produce information anxiety. I was preparing for the moment, here is not to earn 3 hundred million I don’t want to go.” Liu Cong said.

Liu Cong didn’t know, how long can the blockchain industry circle back to temperature, a growing number of partners also left the blockchain circle. But a few years after experience told him that he can’t wait for the market to come back to this industry.

“How long can the blockchain industry circle back to the temperature? Don’t know, has been more and more recognized peers out of this circle, the future, hope can meet.” Looking at the dark night outside the window, Liu Cong said.

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