Ahead is a no-man's land full of fog | Miner's internal reference

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2021-05-31 16:22 (UTC+8)

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Ahead is a no-man's land full of fog

secondary title

Mobility disorder party is temporarily over

We just had the largest monthly decline in history, and the market has clearly entered a relatively long period of constant friction in investors' bottoms. It is not an exaggeration to say that the bears are coming. The UK raised interest rates, the pound soared, the Fed released water, the dollar continued to fall relative to RMB, and the liquidity of the financial market kept pulling.

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The concept of high pressure of policy

First, let’s compare the two policy news at the end of May:

1,Resolutely prevent and control financial risks, adhere to bottom-line thinking, strengthen all-round scanning and early warning of financial risks, promote the reform of small and medium-sized financial institutions to reduce risks, focus on reducing credit risks, strengthen the supervision of financial activities of platform companies, crack down on Bitcoin mining and trading behavior, and resolutely guard against individuals Risks are transmitted to the social sphere.

2,Recently, the National Development and Reform Commission, the Central Network Information Office, the Ministry of Industry and Information Technology, and the National Energy Administration jointly issued the "National Integrated Big Data Center Collaborative Innovation System Computing Power Hub Implementation Plan" (hereinafter referred to as the "Plan"), clearly proposing the layout of national computing power network countries As a hub node, start the implementation of the "Digital from East to Computation from West" project to build a national computing power network system.

Interestingly, when you search for the word “computing power” on Baidu, Du Niang gave the definition: “Computing power (also known as hash rate) is a unit of measurement for the processing power of the Bitcoin network. It is the computer (CPU) that calculates hash The speed at which the function outputs.

In other words, from a conceptual point of view, it seems that the official rhetoric this time is suspected of being contradictory. Due to the occurrence of market chaos such as domestic exchanges taking the lead in listing animal coins, it is not difficult for us to understand the regulations of relevant departments. However, as risks affecting social and financial stability, the major cloud computing platforms and the resurgent P2P capital behind them are the biggest. Hidden danger. Mining itself is just another way of saying computing power. Compared with the personal choice of mining or computing power technology itself, the leverage effect brought by computing power contracts and digital currency trading derivatives and the compliance issues of off-site funds are the biggest problems in the market. risks of.

In fact, in this wave, the most high dancers are not the traditional Bitcoin miners and Ethereum miners, but the merchants who represent chia computing power of hard disk mining and distributed storage FIL computing power. Pseudo-blockchain technology real fund projects have entered the field of vision of public investors in a way of fishing in troubled waters. However, compared with Bitcoin mining, these cloud-storage hard disk mining projects have not used green renewable energy at all. It's just dumping investors' funds on the same hard disk device. In the next few months, the blockchain projects with this "green" concept will enter the stage of removing the fake and saving the real. Compared with Bitcoin and Ethereum, whether the leading brothers of these new projects can experience the cruel market test To survive without giving up the belief in green bitcoin, let's wait and see.

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If you want to wear the crown, you must bear its weight. It will take time to recover

Bitcoin, as another world consensus target, has always followed its own rhythm. In this round of bull market, Bitcoin did nothing. It was bought by major compliance agencies and added to the balance sheet. The wild running of the animals and the stir-up of various fund players have once again become the target of public criticism. However, compared to currency prices, the biggest impact in this round of adjustments is the computing power of the entire network. As an asset with a market value of trillions of dollars, the security and consensus behind it all depend on the computing power distributed all over the world. At present, the entire network computing power of Bitcoin has dropped from 176EH at the peak to 143EH, a drop of nearly 23%. Therefore, for the miners who are still insisting on guarding the network, only respect can be given to them. The miners will always move forward with heavy burdens. They are the helmsmen who step on the accelerator and travel through no man's land. Only by persisting can they pass through the deepest darkness.

The growth of computing power and mining difficulty often lags behind the price, but the price often corresponds to a steady increase in computing power, but at present we may be facing the opposite situation. Just now, the mining difficulty of Bitcoin has dropped by 15%. The network computing power may also continue to decline. After the shoes land, it will take at least a month for the domestic mining machines and computing power to be re-deployed to the sea. Is the electricity for mining at sea sure to be stable? Just look at the recent power outage news in Iran, so it will be difficult for both computing power and currency prices to rise in the future, and in the face of the turbulent financial market, it will be difficult to rush again in the near future. But in any case, don’t forget that one of the characteristics of Bitcoin is: it will always surprise everyone with a big positive line when people think it is dead, and it will always surprise everyone when people think it is a block. During the chain revolution, everyone was surprised by a super Yinxian.

Risk warning: The above opinions are only the opinions of the author, not as investment advice

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Ahead is a no-man&#39;s land full of fog | Miner&#39;s internal reference

Mobility disorder party is temporarily over

The concept of high pressure of policy

If you want to wear the crown, you must bear its weight. It will take time to recover

Ahead is a no-man's land full of fog | Miner's internal reference