It only takes 8 small Bitcoin transactions to produce a waste of scrapped Nvidia GeForce RTX 3090 graphics card. This is a conclusion drawn from a report on the electronic waste of the basic infrastructure of cryptocurrency. One transaction is equivalent to throwing away Two iPhones.
There are many articles on the ecological impact of cryptocurrencies such as Ethereum and Bitcoin, but not many articles on the impact of e-waste generated by "mining".
Recently, a number of well-known companies announced their plans on the virtual currency market.
Among them, VISA disclosed their investment in CryptoPunk and plans to buy more NFTs in the future; on the other hand, Meitu's second quarter financial report shows that the book encryption investment loss is as high as 100 million yuan, mainly caused by the falling price of Bitcoin; it is pushed today. Te also announced the launch of Bitcoin-based payment functions, including support for the Lightning Network.
As more and more giants enter the crypto market, a new wave of adjustments to the global asset structure will be set off, with opportunities and risks coexisting. What other companies have joined the "Colosseum" of this new type of asset, how are they deployed, and what kind of logic is hidden behind them? This article has done some analysis.
Low return rate of unbearable fixed income, proactively allocate high-risk assets
The rate of return is one of the most important indicators of listed companies, and many deployments are centered on the goal of maximizing profits. Therefore, even if they have many reasons to enter the crypto asset market, the motivation behind it must be to optimize financial performance.
In the past two years, the performance of the U.S. dollar has been recognized as weak, coupled with low market interest rates, and 10-year treasury bonds and fixed-income products have too low returns. In order to increase cash yields, many U.S. stock companies have carefully allocated a certain percentage of bits. currency.
VISA’s main business is payment, settlement and clearing, but its activities in the crypto market are becoming more and more active. Not long ago, it bought an NFT numbered 7610 in CryptoPunk at a cost of approximately US$150,000.
Because as a listed company, its operations cannot arbitrarily deviate from its main business. In addition, it must comply with regulatory requirements. The proportion of high-risk investments must be controlled at a low level. Therefore, US$150,000 is compared with VISA’s foreign transactional investment scale. Only accounted for less than one thousandth.
As the pioneer and weathercock of the cryptocurrency market, Bitcoin fell by half in May last year, making it more difficult to mine! However, Bitcoin mining projects were completely eliminated due to inherent defects such as excessive mining energy. There is no real good project for Bitcoin miners, and this provides an excellent opportunity for the rise of FIL.
The mainnet of FileCoin was launched on October 15, 2020. Let's take a look at the overall trend of FileCoin. FIL is on the mainline and has been fluctuating around 20 U! At that time, it was still going high and then low, fluctuating slightly. This is the bottoming stage, the more stable, the greater the upside potential. There is a minimum production cost price for a product, and so does currency. In general, the launch time of FIL is very short, and there is still a long way to go in the future. Bitcoin mining has grown to tens of millions of times after more than ten years, and the cost of Bitcoin mining is also lower. high. Currently, FIL currency miners enter the market, and they are very likely to become early Bitcoin miners in the future!
First, the price of Filecoin has fluctuated greatly since its launch, and the currency price is in the initial stage of development. The impact of higher currency prices on the income of miners is limited in the early stages, but lower currency prices can reduce costs.
Second, the filecoin mainnet has been online for less than a year, and the earliest reference Btc appeared in 2009. It has gone from no one to a ten-thousand-fold increase in value. Whether it is btc or Ethereum, it is not a linear appreciation, but a rampage between big and small bulls and bears.
Filecoin has established a special economic model that requires miners to prepare a certain amount of fil as pledge and gas in advance. Purchase demand, the total demand can be calculated.
Fourth, FIL faces a trillion-level storage market and has practical storage applications. Filecoin provides a massive data storage architecture to meet the needs of the times. The referenced storage resources, retrieval services, bandwidth resources, and construction of the next generation Internet system.
FIL's attention has shifted from retail investors to institutions. The increase in holdings of Grayscale Digital Assets is enough to explain everything. Therefore, many analysts believe that the future development of FIL coins is immeasurable.
In fact, the most promising project in recent years is IPFS. During this time, most of the funds in the circle will flow to the filecoin distributed data storage industry! FIL mining is bound to become more and more popular! The FIL coin mainnet has been launched for less than a year, and the earlier the layout, the more early the dividends will be.
After China's regulatory ban on cryptocurrency mining business, mining companies are accelerating the transfer of domestic mining machine business overseas.
On July 27, Bitmain announced the divestment of its mining pool brand Antmining Pool and will carry out this part of the business overseas.
Prior to this, Huobi Mall and Lebit Mining Pool have suspended domestic mining operations, and Canaan Technology and Bit Mining have all transferred these businesses overseas.
On July 27, Bitmain announced that it was divesting its mining pool brand "Antpool". The relevant person in charge of Bitmain told the Cailian Community Blockchain reporter that the divestiture of Ant Mine Pool began in the first quarter of this year, and completed communication with shareholders in March, and then began the divestiture. All laws were completed on May 1st. Layer peeling.
Bitmain said that it is still doing some business sorting and will complete related actions as soon as possible. After receiving the support of new shareholders, Ant Pool will independently carry out mining pools and other businesses overseas.
Ant Mining Pool is a cryptocurrency mining platform launched by Bitmain in November 2014. It provides mining services for multiple cryptocurrencies including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, etc. The hash rate of this mining pool has always been at the forefront.
According to third-party computing power statistics, in the Bitcoin mining pool computing power rankings, as of 12:00 on July 29, the ant mining pool ranked first in the world with a real-time computing power of 16,968.48PH/s. However, the computing power has fallen by nearly half from the May high.
Since the beginning of this year, the regulatory crackdown on cryptocurrency-related businesses has been escalating.
In mid-May, the China Payment and Clearing Association and other three associations jointly issued a notice to prevent virtual currency speculation, requiring financial institutions not to conduct related businesses. On May 21, the meeting of the Financial Committee of the State Council also made it clear that it would crack down on Bitcoin mining and trading.
Since then, Inner Mongolia, Xinjiang, Yunnan, Sichuan and other places have successively introduced policies to clean up and rectify virtual currency mining-related industries and strictly prohibit mining operations.
In addition to severely cracking down on mining, the central bank also interviewed a number of banks and payment institutions, requiring a comprehensive investigation and identification of virtual currency exchanges and over-the-counter dealers' capital accounts, and timely cutting off the transaction funds payment link.
After that, for the mining business, many domestic mines and mining machine manufacturers began to "shut down" and "go overseas" strategically.
On the evening of July 28th, Bitcoin Mining announced that it had purchased 2500 brand new Bitcoin mining machines to be shipped to Kazakhstan by means of payment. The company has deployed 3,819 Bitcoin mining machines locally.
Earlier in June, Canaan Technology announced that it had officially opened its self-operated mining business in Kazakhstan. Mining machine operators, including Huobi Mall and Lebit Mining Pool, decided to suspend mining business in China.
A Sichuan mine owner told the Cailian Community Blockchain reporter that all his mines have been shut down and he is looking for opportunities to go to sea. In order to avoid gathering together in Iran, Kazakhstan and other mines, he said that he might Move the mine to Southeast Asia.
In addition to shutting down mining farms and relocating to the sea, supervision of the pursuit and interception of cryptocurrency-related businesses has also forced blockchain-related companies to focus more on technological breakthroughs.
Bitmain said that in the future, the company will continue to focus on the R&D and sales of computing power chips and servers based on its technological advantages in the field of chip design, hardware R&D and manufacturing.
In the cryptocurrency computing power arms race, as the world's largest mining machine manufacturer, Bitmain has witnessed the historical progress of Bitcoin mining machine chips from CPU to GPU to ASIC dedicated chips, and its mining machine chip technology route has also gone through The evolution from 55nm to 28nm to 16nm and then to 7nm and 5nm.
In an interview with Cailian Community Blockchain reporters, Lu Xiaobao, head of the Chuangxing Semiconductor Investment Group of China Science and Technology, analyzed that AI chips cover a wide range of information processing, such as voice, image, video, and automatic driving. Different information processing is suitable. With different algorithms, chips with different architectures are needed to obtain higher computing efficiency. The core is the ratio of computing power to power consumption. From a technical point of view, the underlying technology between the Bitcoin mining machine chip and the AI chip is the same, but the scene is more fixed, that is, the mining algorithm, and the competition is also the power-to-power ratio.
"From the perspective of underlying technical capabilities, it is feasible for mining machine manufacturers to transform into AI chips. However, the core of the difficulty of transformation depends on the understanding of AI chip application scenarios. Different scenarios need to adapt to different chip architectures and algorithms. Technology itself is only a means of realization." Lu Xiaobao said.
Bitcoin's performance was stable in early 2021, reaching an all-time high of nearly $65,000 in April. However, in the first half of this year, the price of this digital currency fell by about 47% from a record level, and some looming risks may cause further pain in the future.
Although supporters seem to hold Bitcoin temporarily, other investors are cautious about the violent market volatility and its impact on their investment portfolios. On June 1, market analyst Ryan Browne wrote that as time enters the second half of this year, cryptocurrencies face the following five major risks:
One of the biggest risks Bitcoin currently faces is regulation.
Last week, the global crackdown on cryptocurrencies spread to the United Kingdom. British regulators banned the leading digital currency exchange Binance from engaging in regulated activities.
Bitcoin, which stabilized briefly after the plunge, fell sharply again. At about 20:30 on June 22, Beijing time, Bitcoin eventually fell below the $30,000 mark.
According to data from Bitcoin quotation website Coindesk, at 20:27 pm on the 22nd, Bitcoin dropped sharply to 29,771 U.S. dollars. The cumulative decline in the past 24 hours reached 9.12%, and it fell to 2,976 U.S. dollars in one day. At this time, $64,829, the highest point in Bitcoin history in April, has been cut below the waist.
Reuters reported on the 22nd that there was a "death cross" on the technical side of Bitcoin. For Bitcoin, the key is whether it can hold the low of $30066 reached on May 19, which is the initial goal of the bears. A break below this level will strengthen the negative signal of a "death cross".
What has caused the market to pay great attention is the recent continuous efforts of Chinese regulators to strengthen the supervision of Bitcoin, and Bitcoin has also fallen continuously.
On June 21, the People’s Bank of China issued a document stating that it has interviewed some banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Postal Savings Bank, Industrial Bank and Alipay on the issue of providing services for virtual currency transactions by banks and payment institutions. And payment institutions. The People's Bank of China pointed out that virtual currency trading activities disrupt the normal economic and financial order, breed the risks of illegal cross-border transfer of assets, money laundering and other illegal and criminal activities, and seriously infringe the people's property safety. Banks and payment institutions shall not provide products or services such as account opening, registration, trading, clearing, and settlement for related activities. Institutions must comprehensively investigate and identify virtual currency exchanges and over-the-counter dealers' capital accounts, and cut off the transaction funds payment link in a timely manner.
As soon as the news came out, six institutions issued announcements and stated that they strictly prohibit any institution or individual from using institutional services to conduct virtual currency transactions, and resolutely refrain from conducting or participating in any virtual currency-related business activities. Encrypted currencies in the global market have heard a collective dive.
China has always made it clear that Bitcoin does not have the "legal status" of currency. Previously, it has clearly forbidden the establishment of Internet platforms to provide transactions for Bitcoin and other virtual currencies, and the exchange between virtual currencies and digital currencies is also prohibited.
On December 5, 2013, the People’s Bank of China and other five departments jointly issued the "Notice on Preventing Bitcoin Risks", stating that Bitcoin is not issued by the monetary authority, and it has no monetary properties such as legal compensation and compulsion, which is not true. Currency. The "Notice" prohibits financial institutions and payment institutions from conducting bitcoin-related businesses and reminds individuals to guard against risks, but it does not expressly prohibit individuals from participating. In 2017, the Central Bank and other 7 departments issued the "Announcement on Preventing the Risk of Token Issuance Financing", prohibiting the establishment of virtual currency trading platforms in China and prohibiting the exchange between virtual currency and legal currency. Subsequently, large-scale virtual currency trading platforms in China have been shut down.
Recently, the Chinese authorities have continued to tighten the supervision of cryptocurrencies such as Bitcoin. On May 21, the Financial Stability and Development Committee of the State Council held its 51st meeting and proposed to crack down on Bitcoin mining and trading activities and resolutely prevent the transmission of individual risks to the social field. Since then, Inner Mongolia, Qinghai, Xinjiang, Yunnan and other places have successively introduced measures to combat and punish virtual currency "mining" behavior. On June 20, it was reported that all bitcoin mines in Sichuan were collectively cut off at midnight that day, and bitcoin miners suffered huge losses as a result. The industry believes that the withdrawal of all domestic bitcoin mines is a foregone conclusion.
At the same time, Bitcoin has started this round of vigorous decline in the market, and finally fell below the $30,000 mark on the evening of June 22.
The legitimacy of Bitcoin's identity has always been suspected by global financial official decision-makers, who believe that it has caused chaos to the existing international financial order. The most important thing to ignore is the attitude of the new US Treasury Secretary Yellen, who has always held a negative attitude towards Bitcoin. On January 25, Yellen’s appointment was considered bad news, causing cryptocurrencies to plunge across the board that day, and Bitcoin dropped more than 10% at its lowest point in the day. Prior to January 19, Yellen stated that the United States should be aware of emerging tools for terrorist financing, and that cryptocurrencies have the opportunity to be misused by illegal financing. The government will need to review the ways in which their use can be restricted and ensure that they will not be carried out through these channels. Money laundering activities. Yellen's statement made Bitcoin fall for three consecutive days. And another international financial policy decision-making figure, former President of the European Central Bank Draghi, also has an unfriended attitude towards Bitcoin. Almost at the same time as Yellen, he also stated that Bitcoin is a highly speculative asset that involves money laundering activities, and a regulatory consensus on Bitcoin needs to be reached at the global level.
Virtual currencies mining consumes chips, so the global shortage of chips is Bitcoin's fault? This may not be the case.
Determined to refrain from Bitcoin or any other virtual currency, I thought that all the fuss over cryptocurrencies had nothing to do with me. The painful truth is that as Bitcoin fell, Micron and other chip stocks seemed to follow.
Since Bitcoin hit a high of $63,518 in April, it has started to fall all the way, and is currently standing at around $38,000. At the same time, DRAM prices began to fall almost simultaneously.
The price index of 4GB DDR3, which is composed of 8 512M DRAM particles, began to fall after the high point in March, which is very similar to the price trend of Bitcoin.
Then looking forward again, the last wave of Bitcoin's bull market started in September 2017, and it doubled by 5 times in December, with the price rising from $3,500 to $19,000. The price of DRAM also rose again after the consolidation in June-September 2017, and peaked at the same time as the price of Bitcoin in December, and also fell at the same time.
The two countries with the greatest influence on cryptocurrencies in the world are China and the United States. China’s policy is absolutely crucial.
After reaching the historical high in April this year, the price of Bitcoin has plunged all the way. The overweight of China's regulatory policies in mid-to-late May is undoubtedly one of the incentives.
Starting on May 18, China has intensively released its regulatory policies on cryptocurrencies: On May 18, the Inner Mongolia Development and Reform Commission established a virtual currency "mining" corporate reporting platform; on the same day, China Internet Finance Association, China Banking Association, China Payment and Clearing Association Issued the "Announcement on Preventing the Risks of Virtual Currency Trading Hype"; On May 21, the State Council’s Financial Commission requested to crack down on Bitcoin mining and trading, and resolutely prevent individual risks from being transmitted to the social field; On May 26, the Inner Mongolia Development and Reform Commission issued a resolute Eight measures to combat and punish virtual currency "mining" behavior solicit opinions.
From 2013, when bitcoin transactions were still regarded as commodity trading behaviors that ordinary people can freely participate in, to the withdrawal of domestic virtual currency exchanges in 2017, and to the clear crackdown on mining behavior, China’s regulatory policies on cryptocurrencies are in The most stringent among the major economies in the world. In view of the influence of Chinese players in the cryptocurrency world, every statement made by the Chinese regulators will directly reflect the large fluctuations in the value of Bitcoin.
"The price of Bitcoin is like a child’s face. Whenever it changes, it often rises and falls." A former Bitcoin “mining farm” told a reporter from China News Weekly. Because of a sharp drop in the price of Bitcoin, his The "mine" was at a loss and was shut down before the outbreak of the epidemic in 2020. At that time, the price of Bitcoin was hovering at US$7,000 or 8,000. He also missed the Bitcoin market that started in the middle of last year.
By the end of 2020, the price of Bitcoin has been close to 30,000 U.S. dollars. This trend will continue in 2021 until it hits an all-time high of 64,863 U.S. dollars on April 14.
How does the Bitcoin market go? At present, pessimism in the market has the upper hand. Ipek Ozkardeskaya, a senior analyst at Swissquote, said that as Bitcoin falls below the 200-day moving average, there will be more risks in the future.
The crypto coin circle had no sleep all night. According to the latest data of bybt, in the last 24 hours, a total of about 775,700 investors have become victims of liquidation in China. The largest single liquidation order occurred in Huobi-BTC, valued as high as US$67,001 million. On the evening of May 19, the ranking of the "coin circle collapse" jumped to the third place on the Weibo hot search list. Prior to this, the China Internet Finance Association and other three associations jointly issued an announcement to remind the risk of speculation in crypto coin transactions.
On the morning of May 19, the price of Bitcoin dropped sharply. As of 11:07, the price of Bitcoin had fallen by 10.73%, which was only a gap of more than $200 from 40,000 USD per coin. You know, in April this year, the price of Bitcoin At one time, it exceeded 60,000 US dollars/piece; at the same time, the price of Ethereum also fell by 8.75%, and the price was close to 3,000 US dollars/piece. Just a week ago, its price once exceeded 4,000 US dollars/piece.
However, this was just the beginning of the "nightmare". By noon on the 19th, the price of Bitcoin fell below $40,000 per coin. After 8:30 in the evening, the price of Bitcoin dropped in a free fall, with the lowest price in 24 hours. 31,100 US dollars per piece, which has been "cut in half" compared to the highest point this year. As of 23:18 on the 19th, the price of Bitcoin has rebounded to 36,900 US dollars per coin, down 15.33%.
Other crypto coins were not spared either. The price of Ethereum plummeted by 21.02% to US$2,657 per coin, and Binance Coin fell by 28% to US$367 per coin. The previous hot Dogecoin was not spared and fell. 23.79%.
In several recent tweets, Musk released news about Tesla's bitcoin holdings, which triggered investors to engage in crazy bitcoin transactions during the trading hours, first shorting, and then turning to buy up.
The reason is that Musk hinted in a tweet that Tesla may have sold or partially sold its bitcoin holdings; later he clarified in another tweet that Tesla did not sell bitcoin.
Musk’s tweet directly led to Bitcoin’s flash crash of over 9% on May 17, hitting its lowest point since February 9, and then rising by more than 5%.
Although Musk's enthusiasm for speculating coins once pushed up the cryptocurrency market, his recent "cold" attitude towards Bitcoin and Dogecoin has disrupted trading in the currency circle.
Earlier, Musk had tweeted that out of environmental considerations, Bitcoin would cease to be used as a payment method for Tesla vehicles, causing Bitcoin's market value to evaporate by a quarter.
Musk has repeatedly changed his face. Bitcoin prices are on a roller coaster. Click on the video to see what it is!
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