Observation | A detailed analysis of the mining industry in the first half of the year, a must-read for miners!

Hello, I am the host of Rolling Stone Observation, Fu Cha.

The market has been volatile recently , with all major markets experiencing declines to varying degrees. Even the strong ETH fell by 5% on August 22, with a total market value outflow of approximately US$20 billion on the 7th.

▲ Data from Feixiaohao

Although the data is not good, fortunately the total market value has remained stable at US$384.5 billion, which is about US$80 billion more than the same period last month .

The short-term " monkey market " trend has a great impact on spot speculators. They watch their account assets shrink every day and their mentality collapses.

But for the miners who join the group mining, there is basically no impact. Mining is the best way to hedge against the adjustment of the market and smooth out the risks.

If the market wants to rise further, it must release pressure on the profit-taking, allowing more chips to be fully replaced within a certain range, thus starting the next round of new heights.

We just need to mine well and wait for the "east wind" to come .

The main article begins:

Recently, TokenInsight , a well-known industry analysis agency and a strategic partner of Rolling Stone, released the "Blockchain Mining Research Report for the First Half of 2020" (hereinafter referred to as the "Report").

Although the popularity of ETH and DeFi has stolen the limelight from BTC, it is still an industry “barometer” and cannot be ignored.

Next, I will give you a detailed analysis of the report.

— 1 —

The first half of the year was a bumpy road

In the first half of 2020, the Bitcoin market mainly reflected two aspects:

• The outbreak of the epidemic, “ Black Thursday 3.12”, caused BTC to fall to a minimum of $3,155;

• BTC’s third block reward halving, the network’s computing power dropped to a minimum of 82ET/S;

Although there have been some bumps along the way, the overall market sentiment has been positive.

After March , BTC started to rise, regaining lost ground and aiming to hit $14,000 in June. It is currently oscillating between $10,000 and $12,000.

▲Data from TokenInsight

▲Data from TokenInsight

The impact of the third halving has also been gradually digested and weakened by the market. Since May, the computing power of the entire network has returned to the level before the halving, stabilizing in the range of 110ET/S-136ET/S.

It is worth noting that the number of BTC holding addresses has maintained a steady growth momentum with the market, which means that the Bitcoin consensus has been strengthened again amid market fluctuations .

▲Data from TokenInsight

In the long run, its inflation rate has dropped from 3.65% before the halving to 1.8% after the halving. The subsequent upward trend remains unchanged and is worth paying attention to and holding for a long time.

— 2 —

New mining machine, good performance, small improvement

In the first half of 2020, 11 new mining machines were launched. From a historical perspective, the number is at a lower-middle level. Among the current mainstream mining machines , Bitmain has the highest share, accounting for 27%, followed by MicroBT and Canaan .

▲Data from TokenInsight

Compared with 2019 , the computing power of new mining machines in 2020 increased significantly year-on-year, and the unit power consumption decreased. The average computing power was 81T and the average unit power consumption was 42W/T.

▲Data from TokenInsight

Compared with the first quarter, the computing power of new machines in the second quarter increased by 17.9%, and the unit power consumption decreased by 11%. The performance of new mining machines continued to improve in 2020, but the room for improvement is gradually shrinking .

▲Data from TokenInsight

— 3 —

Binance, the new mining pool

The structure of the top mining pools remains basically unchanged.

As of the second quarter of 2020 , the top four mining pools (F2Pool, Poolin, BTC.com, AntPool) accounted for 58% of the total network computing power in the market.

▲Data from TokenInsight

Among the top mining pools, F2Pool performed relatively strongly, with its computing power share increasing by nearly 3%; while the computing power shares of Poolin and BTC.com decreased slightly.

This year, Binance has entered the mining pool field and has developed strongly . As of the end of June, it has occupied 5% of the computing power share, thanks to its vigorous promotion and the launch of smart mining pool services .

Previously, Rolling Stone Miner had also reached a computing power partnership with BinancePool and became the first 100p computing power client of BinancePool. (Rolling Stone Newsletter | Rolling Stone Miner & Binance reached a deep computing power partnership)

— 4 —

Filcoin, delayed payment, many hidden dangers

Filecoin was in the limelight in the first half of the year, but the launch of the mainnet has been delayed again and again. The official latest launch date is September.

▲Data from TokenInsight

As Filecoin becomes more popular, mining machine manufacturers, cloud computing platforms, exchanges, etc. have also joined the game. Since the main network has not been launched, FIL has not really circulated in the secondary market. Only FIL futures have been launched on the exchange, and its price has been rising all the way, reaching a maximum of $14.

Filecoin, the strongest ICO in history and a phenomenal star project that has been "enduring" in the industry, has relatively high risks, which can be summarized as follows:

• The current transparency of Filecoin market information is poor, and mining products vary greatly;

• So far, more than 50 exchanges have launched FIL futures, but the price difference between them is large;

• Although the Filecoin mainnet has not been launched, FIL futures have been severely over-issued, and small and medium-sized exchanges are facing greater time risk and repayment risk ;

• Whether Filecoin has massive commercial storage value remains to be observed and verified by the market.

The fourteenth Rolling Stone Mining Machine Group Purchase has started at 10 am today.

When the market is good, mining machines become " hard currency ", with mining income and mining machine premium , double the happiness .

Do you remember?

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