Mining Network Weekly Report: Bitmain will hold the Frankfurt Global Mining Summit (July 29-August 5)

As of 10:00 am on August 5, the total hashrate of Bitcoin network is 69.28EH /s . The current difficulty of the whole network is 9.01 T. It is predicted that the difficulty will be increased by 10.87 % to 9.99 T next time. There is 1 hour left before the adjustment.

Litecoin’s second halving is expected to take place at 18:26 tonight

The following figure shows the weekly dynamics of mainstream currencies from July 29 to August 5, 2019

Weekly News

Bitmain adds 7nm production capacity, new mining machine capacity may reach 58 million TH/s in the first half of next year

Bitmain's "urgent orders" this time were still paid in cash.

According to the Taiwan Economic Daily, the supply chain reported that TSMC's 7nm production capacity was in short supply, and it received another urgent order from Bitmain. TSMC urgently added 7nm production capacity, and it is expected to increase the monthly output by 10,000 wafers starting in November. Although the report did not clearly state the total amount of 7nm orders Bitmain received this time, this news verified the previous revelation by the technology big V "Mobile Chip Master" that "Bitmain still has a lot of cash on hand", and Bitmain's "urgent orders" this time were still paid in cash.

Bitmain to hold Frankfurt Global Mining Summit to build a new mining sharing ecosystem

From October 8 to 10, the second World Digital Mining Summit (World Digital Mining Summit 2019) hosted by BITMAIN will be held in Frankfurt, Germany. The summit brings together digital currency mining elites from around the world, more than 30 industry-leading experts, more than 100 top crypto mining companies and more than 1,000 participants. The most senior and innovative authorities in the mining industry gather together to create the most advanced collision of ideas.

Litecoin halving is imminent. Can it start an independent trend again?

There are less than 5 days left before Litecoin halving. Can this concept, which has been hyped since the beginning of the year, really bring a different market to LTC? Since the beginning of this year, LTC has soared from the bottom of $30.5 to the high of $143.5, an increase of more than 370%. As for the reason for the rise, some analysts believe that it is the impact of the halving market, while others believe that in the case of a high correlation in the digital currency market, the reason for LTC's rise is largely due to the driving effect of BTC.

Three men posing as mentors set up Bitcoin scam to make 150,000 yuan in profit and were sentenced

According to media reports on August 1, the victim was provided with profit orders through WeChat groups, pretending to be a mentor to provide guidance, and lured the victim to recharge and invest on the "Btc Club" platform, and then defrauded the victim's money by setting the background Bitcoin price increase or decrease. The Ninghai County Procuratorate of Zhejiang Province filed a public prosecution, and the Ninghai County Court recently pronounced a verdict on the telecommunications network fraud case.

In early April 2018, Liu, Chen and Mao planned a "Bitcoin" trading business, with Chen acting as the instructor, Liu as the customer service, and Mao as the investor, and each person's fixed salary and dividends were distributed according to the investment ratio. After the division of labor was clear, Liu purchased the website source code on Huzhan.com, and asked someone to create the "Btc Club" platform online, set up the server, and provided his and Chen's Alipay as a channel for customers to recharge. At the same time, Liu was also responsible for making advertisements for the platform, and posted advertisements on WeChat public accounts and other self-media to promote and recruit victims. At this point, a fraud gang was initially formed.

Bitcoin Fork History

If I told you today that Bitcoin had a chance to be controlled by the Chinese two years ago, would you believe it?

Bitcoin, the world's most famous and mysterious investment (speculation) product, has been full of doubts and myths since its birth. In the past decade, it has risen by as much as 22 million times, writing countless wealth stories.

In 2017, the highest price of Bitcoin reached $20,000 per coin. Just when the price was rising wildly, a player who owned a large amount of Bitcoin called his close friend.

The 31-year-old said to his best friend on the other end of the phone in an almost pleading tone: "What if you just help me once?"

The person who answered the phone was called Chang Jian, the founder of China's largest blockchain forum and media "Babbitt". He plays a vital role in the Chinese blockchain world, and Babbitt also has a huge influence in the Chinese encryption world.

The man who called for help was Wu Jihan. He had fought side by side with Chang Jian and co-founded 8btc. Now he is one of the founders of Bitmain, the world's largest cryptocurrency mining machine manufacturer. In Hurun's list of wealth of the post-80s, the 32-year-old Wu Jihan was ranked among the top 50 self-made people born in the 80s with assets of 16.5 billion yuan. He is the one who wants to kill Bitcoin.