Recently, the 2018 International Blockchain Innovation Industry Summit was held in Hong Kong. Many industry experts, leaders and researchers from around the world participated in the event. Participants had in-depth discussions on the cutting-edge trends in the global blockchain field. Bitcoin and mining development was the focus of this summit.
With the recent reversal of bitcoin currency values and rising operating costs, profits have decreased rapidly. Bitcoin "miners" began to feel anxious. In terms of current mining costs, mining bitcoin is estimated to cost about 10,000 to 20,000 yuan. The proportion of electricity costs is not small. Taking a Sichuan mine as an example, the annual electricity cost of about 6,000 mining machines is about 40 million yuan.
The CEO of Interconnected Online Zhouming was invited to give a speech on the topic “The past, present, and future of bitcoin mining”. In his speech, he said: Since the birth of Bitcoin, with the increase in the number of mining participants and the continuous improvement of the whole network computing power, mining tools have transitioned from personal computers to professional mining machines and miners from personal miners to large-scale group miners.
However, in the bitcoin adjustment cycle that we can predict, a considerable number of miners and mines may not survive the coming severe winter. Considering the cost of mining, if the bitcoin price maintains its current situation for a long time, nearly half of the miners will face losses when halving their mining incentives. Large-scale mines such as NEBULA can reduce the cost of mining through professional operations and scale effects. Compared with large mines, miners in small mines are unable to achieve stable profitability due to the lack of effective risk hedging methods. Production is vulnerable to fluctuations in currency prices. However, changes in the industry structure do not imply that the mining industry is declining, but is gradually going toward a more professional, clustered, systematic approach. Bitcoin has created a lot of wealth for the pioneers who have joined it. Now and in the near future, there will be more venture capital, funds, and entrepreneurial companies continuing to enter this industry. He believes that Bitcoin can make the world better, and that its value and significance are still seriously underestimated today.
As a matter of fact, miners can employ some strategies like hedging at Interconnected Online’s mining pool (http://vipidc.com) through hosting calculations to avoid the risk of currency fluctuations. They can also incorporate miners into mining platforms for joint mining and stabilize their earnings. In the future, we hope to link Bitcoin with A shares and global financial products in any possible way. In the coming days, they will cooperate with a number of Internet investment platforms to provide bitcoin mortgage for stock allocation services.
As one of the world's most important digital currency mining service platforms, Interconnected Online’s mining pool (http://vipidc.com) has deeply integrated its digital currency spot trading platform, digital currency financial platform, digital currency futures trading platform, online wallets and digital currency financing platforms, some other related platforms and products by building a large-scale mining machine group, managing electricity supply and maintenance of mining machine operators. Interconnected Online’s mining pool (http://vipidc.com) is the first in bitcoin industry to provide one-stop financing, mortgage, leasing, and sales services for digital currency mining. Interconnected Online provides users with simple, efficient and low-cost mining services.