Tragic! Bitcoin “flash crash,” mills by catty sale, there have been billions of losses of miners!

After the quiet months, bitcoin this two days and get money ring no peace.

Until November 14th, the price of bitcoin is still hovering in the $6400 level; but in recent weeks, bitcoin plunged nearly 38%. As of 21 am Beijing time 4:30, coinbase platform bitcoin quote below $4100, hit a 13 month low.

Bitcoin mining machine with currency price languishing and suffered mine: some small and medium-sized mines but mine resale liquidation.

According to the information display, after some small bitcoin mine mill hill of general waste heap in the yard, even being in accordance with the price of catty to sell scrap metal.

In micro-blog, WeChat friends, bitcoin forum platform, in recent days, losing a lot of speculators are but a “Starving people fill the land”. Even a senior game player said their circle of currency assets have a loss of more than 85%, “declared bankruptcy”.

Bitcoin decline for the year 76%

2017 at the end of the year, bitcoin prices topped $2 million, at a dizzying peak in history.

To know that in 2010, a $25 pizza buyers spent 10 thousand bitcoins, the equivalent of a bitcoin worth 0.25 cents. Seven years have skyrocketed 4 million times, making bitcoin over Holland “tulip mania” and “British South Sea Co hoax”, become one of the largest in the history of human asset bubble.

(the red line represents bitcoin prices)

However, the bubble is always punctured. The whole 2018 years, bitcoin opened the “fall” mode. As Beijing November 20th 12, compared with the beginning of the year high of $19299, bitcoin decline amounted to 76%.

The prices also makes the public attention quickly subsided, bitcoin again reduced to a small circle between the speculative game game player. According to the data analysis of Chainalysis company, in 1 months to 2018 years in the three quarter of 9 months, trading volume with bitcoin settlement decreased by more than 80%.

The reporter noted that in the first half of this year, after several times after the crash in September and October, bitcoin value was relatively stable, and even had also considered relatively safe in U.S. stocks fell under the background of “safe haven assets”.

However, the evening of November 14th bitcoin prices from a sudden change in the situation, the rapid drop near $6300 to $5300, a decline of nearly 16% in 5 hours; and in November 19th at noon, bitcoin dropping from $5500, fell to the lowest above $4842, a decline of nearly 12% in less than 6 hours.

No wonder the Bloomberg sigh, this wave of selling a bitcoin looks like there is no end”.

Bitcoin “avalanche” has caused a series of chain reaction: Ethernet, currency and other currencies have plummeted reboxetine currency, the currency market value of only encryption is $150 billion, and $850 billion at the beginning of the scale far; major U.S. GPU manufacturer NVIDIA (NVIDIA) on the recent stock price plummeted, $23 billion in market value.

There are only 2000 people 100 thousand yuan

In this wave of “no end” of the crash, a well-known domestic bitcoin forum of the two day was “cried” netizens Shuabing washing version.

The evening of November 20th, the netizen posting said, 100 thousand yuan investment in their own currency price peak, now only 2000 yuan, equivalent to 98% of the principal kuidiao.

In the heating of the post, a second said, their 4.6 million investment in a few days on the loss of 1.5 million yuan.

In the main version of other posts, in these days the loss of hundreds of thousands of dollars a few friends.

The reporter contacted a senior currency circle investor wang. Mr. Wang is not willing to talk too much about the details of the investment, only said “I lose blood”, also called “poverty”. When the reporter mentioned the interview, Mr. Wang declined, “no, the heart is a little tired, I rest, hastily hung up the phone.

In bitcoin “big brother” decline under the influence of other smaller crypto currency decline heavy. According to incomplete statistics, in the 2479 encrypted currency. The price in RMB 10 Fen have 1400 below, a penny below 611. A lot of “copycat coins, air money prices close to zero, investors lose everything.

Stop: shut down group of miners miners has billions of losses

Because of unbearable loss, many game player sold “mining equipment”, wash out the coin ring. At the same time as the dollar fell, mining income cannot compensate for electricity and other mandatory spending, making some loss of mine clearance can only be.

According to the “first-line” Tencent news reports, even some decline in the price of bitcoin has more than one machine cost breakdown. The domestic part of the small and medium sized mines have reluctantly sold its liquidation.

One has more than 2000 Taiwan ore miners said that in the stock market these days, he has dug 30 coins, according to the current price, income of 260 million yuan, but at the same electricity up to 280 million, “this is Yu Yue to dig more pay, just off the phone.”

Another has more than twenty thousand sets of M3 ore miners said that these mills more than 10000 yuan in more than a year before the market price, but in today’s currency price and force, the ore price has been reached because of the shutdown, so second-hand monopoly was basically equivalent to “No one shows any interest in, a single machine is more than 20000 Taiwan junk-heap. That is equivalent to the loss of more than 1 billion.

The virtual currency prices down channel

For the crash of virtual currency, and many analysts believe that bitcoin cash (BCH) “hard branch”.

BCH is one of the bitcoin currency bifurcation, and aims to solve the problem of low efficiency in trading for bitcoin block small capacity. In 2017 August, in a number of technical personnel, large miners and bitcoin holders under the support of BCH emerged as currency bitcoin bifurcation.

In November 15th this year, BCH has conducted second “hard bifurcation”. Although with which an algorithm bifurcation is uncertain, but each bifurcation once, will lead to scarcity worse. Therefore, the second “hard fork” once again raised concerns that the existing bitcoin value will be diluted. Some bitcoin holders, rising risk aversion sell-off intensified, making the already has a shrinking of the virtual currency market suffered another blow.

In bitcoin “hard fork” differences appear at the same time, virtual currency regulation news is not optimistic.

In November 16th, the U.S. Securities Regulatory Commission announced the first issue of financing for tokens (ICO) decided the civil penalties, Airfox and Parago Coin two companies issued ICO has not been registered as securities, the need to pay a fine of $250 thousand to compensate investors, which caused investors to worry about the strict supervision.

In China, the virtual currency regulation has been relaxed. As early as last September, Chinese people’s Bank and other departments jointly announced shut down virtual currency trading platform. National Internet financial risk special rectification team leader, deputy governor of the people’s Bank of China Pan Gongsheng this year is that virtual currency trading places and ICO behavior, illegal financial activities, must be “outcrop”.

Experts said that at present, the price of bitcoin and other virtual currencies also decline in the channel, the fundamentals did not appear obvious turning point, because of the transactions included in the scope of legal regulation is not yet in most countries, there is fraud, illegal business and other risks, the blind admission easily suffered losses, the investment needed to be cautious.

Do you think you are fired in currency speculation but by currency

The so-called bitcoin virtual currency issuance and trading was halted in the country, mainly because of its speculative attributes will make investors suffer great losses, the transaction itself has a series of major risks.

Transaction risk

Due to the different bitcoin trading platform are different prices, bitcoin “game player” bitcoin “moving bricks in different trading platform (” buy low sell high arbitrage).

At this time, not only need to bear the risk of arbitrage traders bitcoin “spike”, also need to bear the exchange rate risk may exist in the transaction process.

Part of the trading platform has run away as possible, once the platform run away the situation, investors are likely to lose everything.

At the same time, many short circle chiefs to bitcoin. Such as “Australia the Australian Craig Steven Wright ‘tweets said he believes bitcoin market there is no space, bitcoin will drop below $1000.

The system of risk

The characteristics of bitcoin virtual currency is highly concealed, makes it difficult to monitor the bitcoin transactions. At present, there are many criminals take advantage of this feature in tax evasion and money laundering, smuggling and other illegal selling field use bitcoin transactions. For example, in the global epidemic of extortion virus, hacker requires the victim with bitcoin to pay the ransom to release the virus.

The risk of fraud

At present, in addition to bitcoin, the market there are many under the banner of “counterfeit” virtual currency in circulation. These “counterfeit money” to the financial investment as a publicity stunt, but for MLM fraud. Investors tend to be misled by the “counterfeit” dazzling packaging, stuck.

Once the “three money”, create a great sensation and its mode of operation is MLM category, through the development of offline, access mode of Pyramid return line.

Technical risk

Because build most bitcoin trading platform for individual or company, technology and safety are not guaranteed, often appear to be leading hackers bitcoin theft.

Bitcoin next decide on what path to follow the topic of concern for many people to become. However, for not understanding bitcoin and related technology, the risk bearing capacity of weak people eat melon, away from the currency speculation is the kingly way. The investment should choose their own field, it is difficult to understand and to understand the products should be at a distance, this is also an important method of risk management and control, be avoided.

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Source: China Economic Net

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