The majority is not enough: Bitcoin mining is fragile

The majority is not enough: Bitcoin mining is fragile

In March 2013, the Financial Crimes Enforcement Network of the United States (FinCEN) issued guidelines for financial market participants engaged in convertible virtual token transactions, clarifying that the Bank Secrecy Act (BSA) applies to the creation, acquisition, distrThe majority is not enough: Bitcoin mining is fragileibution, exchange, The person or organization that receives or disseminates the token.

The first possible development trend is that if the currency price rises after the halving, then according to the historical trend of the currency price and computing power, plus the period of high water, the computing power will likely rise. Assuming that the increase in computing power in the first half of the year after each production cut is reduced, the increase in computing power during the first half of the year may not exceed the 42% increase in computing power after the second production cut. According to the maximum value of 42% increase in computing power, if the price of the currency increases by more than 42%, the mining industry will surely obtain excess profits and the profit environment will be significantly improved compared with the current one. According to the price of US$6,872 reported on April 22, the price of the currency rising 42% is US$9,785. Conversely, if the currency price increase is lower or slightly higher than the increase in computing power, the mining industry may not be able to obtain excess profits, and profitability will continue to be under pressure.

A: We (Coingeek) just confirmed that we will become a distributor of SquireMining's new ASIC mining machine. This will not only lower the mining threshold, but also provide higher efficiency. It is hoped that these new mining machines can promote the emergence of more new mining pools. Coingeek is diversifying its computing power because we have confirmed that BitcoinABC has too much control.

Tudor recently wrote in a letter to investors "The Great Monetary Inflation" that it is buying Bitcoin to deal with the risk of fiat currency inflation caused by the central bank's printing of money. Many mainstream financial media including Bloomberg have responded to this Reported, this move also attracted the attention of many cryptocurrency industry participants on Twitter. Tudor is the endorsement of Bitcoin, in the eyes of everyone, it is definitely a BigNews.

The card supports Bitcoin, Ethereum, Ripple, Litecoin and the recently added Waves recharge. Cardholders can use the card to spend in three main legal currencies, namely Euro, U.S. dollar and British pound. Wirex users are required to pay a management fee of $1.50 per month. The fee for withdrawals from ATMs in Europe is US$50, and in other regions it is US$50. Use this card to make in-store purchases and you will get a 0.5% return in Bitcoin.

The denomination of fiat currency may be 1 Euro or 20 US dollars. In theory, Bitcoin can also exist in this way. But allowing variable-scale transactions is actually The majority is not enough: Bitcoin mining is fragilemore efficient. In this way, users can pay a bill of 4 bitcoins instead of initiating 4 transactions of 1 bitcoin on the blockchain.

On April 18, Basis (formerly known as Basecoin), a stable digital goods startup based in the United States, reported that it had raised $133 million in private equity from large venture capital institutions, including Baincapital Ventures and Andreessen Horowitz, and former Federal Reserve Governor KevinWarsh.