On 26 june, united states time, the world's largest futures exchange, the united states cme, saw the sixth consecutive day of the bitco main contract, with the windfall of $13,800, approaching the highest level since the introduction of bitcoin futures products in december 2017. Bitcoin futures contracts increased by more than $2,500 for all months。
The most traded cme bitcoin futures, btc, rose to a maximum of $13915 in june, and received $13,885, an 18 per cent increase, which is equivalent to the cumulative increase of last week. Bitco futures btc was at the top of $14,000 on wednesdays of the july, august and september contracts, which exceeded $14,200 in august and september。
In addition, the federal reserve is expected to stimulate financial inflows with increased interest rate reduction possibilities. According to external media reports, the fed's interest rate decline in july has increased and the exchange rate of the united states dollar has been further lowered, which would be better than the currency. In his report, jim reid, a multi-asset analyst at deutsche bank, stated that the recent appreciation of bitcoin had been alarming, and it was clear that the fed's moderation had led investors to look at other currencies。
The price of second-hand mines went up
The boom in bitcoin has also made the mining industry profitable。
Low-cost hydropower during the water-rich season will reduce the cost of electricity for mining and increase the earnings of miners, as will the volume of output in bitcoin, which will bring liquidity to the market. On 27 june, bitcoin's calculus rose again and is now at 56. 50 eth/s, approaching historical heights. According to data released by f2pool on 27 june, all of the bitcoin machines are now in a positive position。
When bitcoin prices reached new levels this year, mining profits were also high. On 26 june, the ant mine s7 was re-opened at a cost of hk$ 74074 (the cost of digging for some currency). The main market-driven ant mine s9 has a shut-off price of $28,283, which means mining with s9, with a threefold gain at the current price of bitcoin. M10s has the highest yield, with a shutdown price of $16,364 and a mining yield of 5. 5 times。
Big head in: facebook coin
On the afternoon of june 18th, the global digitally encrypted currency of facebook, the libra official website, was officially on line, and the libra stabilization currency white paper was published. The advent of the white paper means that facebook is officially part of the currency circle。
According to official sources, the emergence of the libra stabilization currency will benefit billions of people as a simple global monetary and financial infrastructure。
According to relevant media reports, facebook has established alliances with 28 partners, including visa, mastercard, uber and paypal, who will run internet nodes to validate transactions. In addition, facebook plans to expand the membership of the alliance to 100 at the time of its official launch in libra。
Following news of facebok's currency, the search dog ceo wang xiaochuan released a tweet stating that the facebook-led digital money programme marked the advent of the 3. 0 age of the internet. In addition, wang xiaochuan stated that the world would change by facebook and that it was a great challenge for china。
Facebook, through its white paper, states that the current financial pattern is less satisfactory and that companies want to break this pattern: globally, 1. 7 billion adults remain without access to the financial system and access to financial services provided by traditional banks, of which 1 billion have mobile phones and nearly 500 million have access to the internet。
In addition, facebook expressed concern about the current high financial costs such as money transfer charges, wire transfer charges, overdraft charges and atm charges. The annualized interest rate on payroll day loans may be 400 per cent or higher, with a charge of up to $30 for borrowing financial services of $100 alone。
In this context, according to facebook, libra's mission is to create a simple, borderless currency and a financial infrastructure serving billions of people. Such an approach could make a huge leap towards a cheaper, more accessible and more interconnected global financial system。
On the other hand, the price of bitcoin went up and down the line in libra, breaking down the $9,000, $10,000, $11,000 and $12,000。
In the winter, the mine was sold cheaply and the mine closed down
In november 2018, businesses and hardware producers were experiencing continued violence. The price of bitcoin has been plunging through the cost of multiple machines, i. E. The revenues from mining are insufficient to cover electricity and management costs. Many of the mines have already reached the shut-down price。
Owing to the unaffordable losses, many players resold “mining equipment” and left the money ring。
This was followed by the closure of the mine and the departure of investors。
According to media reports at the time, a south korean-ranked ethercoin mine entered the business early in 2018 at a cost of approximately 240,000 won and approximately rmb 1477. At that time, prices on the korean market had just touched the historical high of 2. 35 million won in twig, or approximately 14,000 yuan in rmb, more than 30 per cent higher than the international market, for which nearly 1,000 miners were launched. However, a sharp shock began soon in the utensils, which eventually broke cost prices in november 2018, and the mine was forced to shut down all its machines。
Pei yongtai, the operator of the korea mine: electricity costs are the biggest cost, most of the mines are already unaffordable, and, as far as i know, 70-80% of the mines are shut down, and few have collapsed。
According to the information received, south korea had previously been one of the world's leading virtual currency trading markets, with bitcoin once ranked third in the world in terms of the amount of korean dollar settlement transactions; from university students, working people to housewives and even retired older people, people of different identities and age groups joined in the bid. This heat surge in korea has created a complete industrial chain from mining to trading。
Virtual currency exchange bankruptcy
In march of this year, coinbin, a virtual currency exchange in korea, was in financial trouble because of a debt of 29. 3 billion won (approximately $26 million) and decided to apply for bankruptcy. With the application for bankruptcy, the use of password and statutory currencies was discontinued。
Subsequently, the hong kong virtual currency exchange, gatecoin, was cleared by order of the high court, and its official website was translated into a statement that the company had been unable to provide its services for some time because of financial difficulties, and that the company had been appointed a temporary clearing house and had to cease operations immediately, i. E., collapsed。
All this happened at the end of last year, and it seems that this year, after a bitcoin festivities, all this has become a world apart。
Source: china securities press, china foundation press, china economics and economics
