Weekly report of Wagecoin.com: There are still 14 days left to countdown to Litecoin halving (July 15-July 22)

As of 10:00 am on July 22, the total Bitcoin network hashrate is 64 .84EH/s , the current difficulty of the entire network is 9.6 T , and the next difficulty is expected to increase by 1.08 % to 9.16T , with 1 more day left before the adjustment.   9 hours a day

Litecoin's second halving will take place on August 5, 2019 , with14 days left

The following figure shows the weekly dynamics of mainstream currencies from July 15 to July 22, 2019

Weekly News

Comment: Is mining a good business?

If there is anything in the cryptocurrency world that the bigwigs and big companies in traditional industries can understand and think this business can be done, it may be mining and opening exchanges. Because these two are the industries that are easiest to understand profit models and cost/risk control, but compared to opening exchanges, mining is a business that is easier to generate cash flow and has no legal risks.

The gang stole electricity worth more than 20 million yuan to mine Bitcoin

The reporter recently learned from the People's Procuratorate of Dantu District, Zhenjiang City that the Procuratorate recently handled a criminal gang that stole state electricity to mine Bitcoin. More than 20 criminal suspects used nearly 4,000 devices to steal electricity worth up to 20 million yuan. It is reported that this case is the largest electricity theft case in Jiangsu Province since the founding of the People's Republic of China.

In March 2019, the Zhenjiang Power Supply Company reported to the public security authorities that the line loss rate of many 10kV lines in Xinfeng Town, Dantu District, had increased sharply since December 2018. The bureau then conducted a comparative analysis of the power consumption information collection system and the marketing business application system and found that there may be major power theft in the area.

Understanding Bitcoin Mining Regulatory Policies in Various Countries in One Article

As the price of bitcoin has skyrocketed in recent days, the Iranian government has cut off the power supply to some illegal bitcoin miners, and this excitement has occupied the headlines of domestic blockchain media. As the price of bitcoin rises, the computing power also rises. According to authoritative data, as of July 1, the computing power of bitcoin mining has exceeded 69 hashes per second, indicating that investors' interest in bitcoin mining continues to increase.

The first case involving Bitcoin infringement was sentenced today. The court confirmed that Bitcoin is a virtual property, but rejected the plaintiff's claim due to insufficient evidence.

On July 18, 2019, the Hangzhou Internet Court held a second online public hearing on the case of plaintiff Wu against defendant Shanghai technology company and defendant Taobao for network infringement liability dispute (property rights dispute) and pronounced the verdict in court, finding that the plaintiff's claim for infringement liability against defendant Shanghai technology company and Taobao was insufficient and dismissed all the plaintiff's claims. Xinhua News Agency, People's Rule of Law, Hangzhou Daily, Hangzhou News Comprehensive Channel and other media reported on the scene.

What will happen with Bitcoin’s 2020 halving?

Time travels to May 23, 2020. While lovers are still savoring the sweetness and romance of 520, Bitcoin will usher in its own carnival and turmoil - Bitcoin halving.

A large number of investors entered the market, pushing up the price of the currency

Before May 23, a large number of investors have already rushed to the market for the money that Bitcoin halving will bring. All those who buy Bitcoin are buying its expectations. When investors have sensed the wealth that Bitcoin will bring, they will step into the investment ranks in advance, waiting for the huge rise in Bitcoin to bring them huge profits.

From the two halvings of Bitcoin, the benefits brought by halving are obvious to all. The first halving event in Bitcoin history occurred on November 28, 2012. At the time of the halving, the price of Bitcoin was around $12. On the 369th day after the halving, that is, on December 2, 2013, Bitcoin reached a new high of around $994, an increase of nearly 8,000%...