I heard that the bull market is coming? Is it still the golden age of mining?

On November 21, 2020, the Shenyang Station of the "CoinIn Blockchain Weekend" with the theme of "Opening a new era of blockchain investment and sharing the dividends of digital currency" came to an end.

This event focused on three major topics, including understanding Bitcoin and blockchain from 0 to 1, a comprehensive analysis of the development of digital currency formats, and how investors can grasp the trend of the times. In the roundtable forum, guests shared their thoughts from different perspectives and launched a discussion on "blockchain and digital currency investment".

Whether mining is worth investing in, in essence, depends on whether the increase in computing power can outperform the increase in the price of coins. The upgrade of chips has a lot of room for improving the energy consumption of mining machines, but not much for computing power. In addition, the production cycle of mining machines generally takes 6-9 months, so the room for improving the computing power of mining machines in a short period of time is also relatively limited, but the room for the increase in the price of coins is different. Therefore, in the long run, the room for computing power to increase cannot outperform the speed of the increase in the price of coins, so that more coins can be mined with relatively small computing power. The output of Bitcoin will be halved every 210,000 blocks, and there is a halving cycle about every four years. Bitcoin just halved in May this year, so it can be said that the next cycle has just begun, and the next four years are also a more suitable time to enter the mining market.

Mining and direct purchase of digital currency are the main ways to obtain digital assets. The key difference between the two is the cost. Mining is equivalent to buying digital currency at a "discount price" and is the only way to obtain digital currency at the lowest cost price. Another issue is the circulation of currency. In our daily lives, we need to buy things and consume, which requires spending money. What can mining bring? It is a stable cash flow.

There will still be the risk of an unknown bear market in the future, and mining can just avoid this risk, because when we buy the mining machine, our investment behavior has been completed. At this time, whether to start mining is no longer determined by the price of the currency, but whether it can beat the electricity bill. Therefore, the risk brought by the bear market can be offset by mining behavior. The decline in the price of the currency is nothing more than extending the payback period. When the price of the currency falls, some people have to shut down the machine. As long as I shut down later than others, I will have a profit, so this is why miners choose the most advanced mining machines to mine.

Biyin builds your trust through real technology and data, not through brands. For example, if you use the Biyin wallet to make loans and pledge 100 coins, how can you believe that these 100 coins are safe and not used by Biyin for other things? Because the Biyin wallet can provide you with an address, you transfer the coins to this address, and the chain can monitor every move of this address, and these 100 coins will lie here until the coins are redeemed. This is the value that Biyin gives to the whole thing.

The reason why Biyin is recognized by many people is that Biyin has always done things through data. We hope that everyone can choose professional institutions to realize investment value.

The golden age of blockchain and digital currency investment has arrived, with both opportunities and challenges. Are you ready?