Mining machines from all major brands have fallen below the issue price! Is the mining opportunity coming again after ICO is recognized?

Bitcoin fell as much as 9% on Thursday night, falling below $7,000, hitting its lowest level since early February. Since 2018, Bitcoin has fallen more than 48%, which has put Bitcoin under selling pressure again.

The recent continuous decline in global digital currency prices has caused concern among many people in the cryptocurrency circle. In the past four months, the atmosphere in the cryptocurrency circle can be described as "extremely bleak."

However, in April, Japan officially legalized ICO, taking a historic step. Previously, the neighboring island country was the first to legalize the trading of digital currencies and issued licenses to some exchanges that met the standards. It can be seen that other countries will also gradually implement policies.

If there is no good or bad news, Bitcoin will continue to fluctuate in the range, and the upper pressure level is still 7400. It only took tens of minutes to increase by hundreds of dollars before, but now it takes several days to increase by 100 dollars. The market is gradually calming down, and such a cooling-off period will take a long time. On the one hand, it is to wear down this support level, and on the other hand, it is also to wear down the resilience of the locked-in shares. In short, I personally believe that this position is still not the final bottom, but in the short term, it will still be dominated by slow upward fluctuations.

Cryptocurrency ushered in a period of explosive growth in 2017, with Bitcoin increasing 13 times and Ethereum increasing 100 times in one year. This has also led to the prosperity of many derivative fields, and mining machine manufacturers are one of them. At the end of last year, a Bitcoin Ant S9 mining machine was quoted as high as 30,000 yuan and was still hotly sought after by investors.

Now it has plummeted to 9,000 yuan but no one is interested. This shows how serious the mentality of domestic investors to blindly follow the trend is! Antminer S9 is a professional Bitcoin chip mining machine produced by Bitmain, with a rated computing power of 13.5TH/s (±5%). According to the conversion, this means that each such mining machine can currently bring about 0.0011 Bitcoins a day.

After hearing this, some people may be unable to contain their excitement. It is so much cheaper now, so hurry up and buy it. You can make money by plugging in electricity at home. It feels like you have a gold mine. What's more, the current price of Bitcoin is much more expensive than gold mines. Don't be too happy yet. Mining is not as simple as you think.

Speaking of mining machines, let's talk about what mining is. In the Bitcoin network, the role responsible for recording Bitcoin transaction information is called "miners". On average, every ten minutes, miners will package and store transaction records into new blocks and receive a certain amount of Bitcoin rewards. This is called "mining". If you want to mine, add 15771001517, WeChat phone number,

Does it sound like a lucrative business? You only need to invest once (the money for the mining machine) and you can enjoy it for life. But it is not that simple. The total amount of Bitcoin, 21 million, is not inexhaustible. In the Bitcoin operating rules, a certain number of Bitcoins will be generated for each block created.

In addition to the cost of purchasing a mining machine, you also need to consider the site, temperature, and maintenance. So although the state currently regulates mining farms, it still protects formal mining farms. So you can just buy a mining machine and host it.

The price of mining machines has plunged, which is inseparable from the falling price of Bitcoin this year. Bitcoin prices have shown signs of recovery. To put it another way, the risk factor of mining entry opportunities is much lower than in the second half of 2017 (the cost of mining machines is low).

Then some people may ask: Is Bitcoin still suitable for investment now?

Let’s first look at a picture to see the similarities between Nasdaq’s 34-year development and the Bitcoin market.

The number of wallets holding Bitcoin now accounts for only 0.3% of the world's total population

Let’s take a look at the number of people investing in the Chinese stock market, which accounts for about 9% of the total population.

Blockchain will subvert the way humans trust and greatly improve work efficiency, but at this stage there is bound to be a bubble. Many industries that originally had nothing to do with blockchain have been covered with the skin of blockchain and can obtain hundreds of millions of dollars in financing through ICO.

The rapid development of an industry must be separated from many bubbles. Which of the real estate and Internet industries did not develop rapidly along with the bubbles? So for now, don’t deny this industry just because the market is sluggish!