1. The Sichuan flood caused some mines to be flooded.
Recently, Mianyang, Guangyuan, Chengdu, Aba, Meishan and other places in Sichuan suffered from floods caused by continuous heavy rains. Due to the collapse of mountains and the soaring rivers, local hydropower and communication facilities were damaged to varying degrees. At the same time, Sichuan Aba and other regions Due to the abundant electricity and electricity tariffs, these areas have become the concentration of cryptocurrency mines. In this flood, some mines have not been spared, and tens of thousands of mining machines have been flooded and suffered heavy losses.
According to statistics, 70% of the world's cryptocurrency mining machines are in China, while Sichuan mining machines account for 70% of the country's total. Sichuan is the center of the world's mines. Just before the flood disaster, there were Sichuan mines. The field is receiving a large number of mining machine hosting orders. From the photos, these mines are generally built in the mountains and rural areas, and the housing is relatively simple. The flood disaster strikes, the mine has no power in the face of a strong natural disaster. .
At present, there is no specific loss data for Sichuan mines. However, from the area of the affected areas, at least tens of thousands of mining machines have been flooded. From the photos, these mines are obviously scrapped and almost impossible to repair.
Golden Financial found that by looking at Bitcoin's network-wide calculations, the network-wide computing power began to drop significantly from June 24th. On June 27th, the network-wide computing power reached the lowest value in the past 20 days, which coincided with the time of the flood disaster in Sichuan. Therefore, the reasons for the decline of the whole network computing power may be related to flood disasters. Golden Finance
2. The report stated that Bitcoin has not diminished; investors have left the market;
Bitcoin prices rebounded by 33% in April this year. Many digital currency investors now think it is time to quit, instead of insisting on the expectation of bitcoin soaring. In December last year, Bitcoin was close to $20,000. The peak. However, in the past six months, Bitcoin has posted 70%. This persistent bear market tests the patience of digital currency investors, for those who bought Bitcoin at the highest point at the end of last year. Especially so.
It has been more than six months since the peak of about $20,000 was reached in December last year, and then the 70% crash and the continued bear market of cryptocurrencies have tested the patience of investors – especially those who bought bits during the frenzy of last year. Investors of coins.
For a long time, digital currency investors have always liked to encourage each other when the market plummeted - 'hodl' was a misspelling of 'hold' and was later considered 'hold on for dear life'. (Abbreviation of holding). But the new data shows that their confidence in this principle is weakening.
According to exclusive data provided by Chime, a bank startup that offers free checking accounts in San Francisco, the customers of Coinbase, the largest digital currency exchange in the United States, took more money from the company than they deposited in April.
Since the peak price of Bitcoin reached 20,000 U.S. dollars in December last year, the funds extracted from Coinbase have been increasing. However, according to Chime's data, April was the first and only month outflow of funds from Coinbase that exceeded the inflow of funds. During the month, investors redeemed more money from Coinbase than invested 37% - withdraw $ 1.37 for every $ 1 deposit.
In May, Coinbase’s invested capital exceeded redemption funds, but each redemption of a dollar had only 10% of its profits, which was approximately $1.10.
The analysis is based on the behavior of approximately 500,000 active Chime users, most of whom are between the ages of 25 and 35, and may not be able to fully reflect Coinbase's condition of more than 20 million users. Coinbase declined to comment. It should be clear that , Many institutional investors and sophisticated investors are not Chime's clients.
However, the trend revealed by the data is noteworthy because it highlights some of the investor's negative sentiments in April. It is necessary to know that in April, the digital currency price is rising rather than panic selling when the market collapses. This gap It shows that they are pessimistic about the prospects of Bitcoin and lack confidence in the recovery of Bitcoin.
This model also reflects that, for the recent novice digital currency investors seeking to make quick money, they are not used to the ups and downs of the price of Bitcoin and similar products.
Paxos is an institutional trading company that also runs the bitcoin exchange itBit. Chad Cascarilla, co-founder and chief executive, said: “You don’t have much boost, Many investors don't really have a long-term view.'
In fact, as bitcoin prices rise sharply in 2017, a large amount of new money is pouring into the bitcoin market, which is often from young, inexperienced investors. Millennials invest in Bitcoin compared to other age groups. The possibility is even greater. According to the “Financial Times” report, Chainalysis tracking the transaction history of blockchains found that long-term investors sold only $15 billion worth of Bitcoin to 'new speculators' in December.
Brian Armstrong, Coinbase’s chief executive, acknowledged last week that the long-term economic downturn has caused some investors to abandon digital currencies and 'get rid of those who joined for the wrong reasons.'
But there may be sellers who still believe in Bitcoin. They just put their savings into bitcoin at a high point, and now they feel under pressure. Some people used credit cards to buy bitcoin last year, even using home mortgages. Buy Bitcoin.
Cascarilla said that as the price of digital assets plummets, some people may decide that if they reduce some losses now, they will sleep better at night, in case the worst is still behind. 'I believe people will say, '嘿The price adjustment will often last for a long time, and the range will be great - I just want to take some money from here, because who knows how long it will last?' '
This may also include some early Bitcoin users. The study found that in the first four months of this year, long-term holders sold $15 billion to speculators.
In hindsight, even investors who were looking for a way out during the stock market rally in April were foresighted. Bitcoin traded at about $9,240 at the end of the month and since then has fallen by 37%. This Friday morning Has fallen to around $5,850.
However, Chime CEO Chris Britt pointed out that the overall capital flow pattern indicates that investors' market timing is not good. Brit said: 'Unfortunately, investors often buy at the highest price. It's human nature to buy, sell at a lower price. ' 'Although we can't predict the future value of Bitcoin, I guess, after a few years we look back at the current price, maybe it's a good time to buy. . '
Of course, investors may need a strong mentality to carry out this gamble. Netease Technology
3. Four exchanges successively announced their withdrawal from the Japanese cryptocurrency market;
Just a week after the Japan Financial Services Agency issued an improvement order to the domestic cryptocurrency exchange, several exchanges have recently announced their withdrawal from the Japanese market.
KuCoin released the latest announcement on June 29 that it will stop providing virtual currency trading services to Japanese residents. Coincheck, an official blog announced today after the theft of the new coin was taken, announced that it has restarted the official blog after nearly five months. , Then announced in the first article after the restart, will stop the yen, the US dollar cross-border deposit and withdrawal service.
After KuCoin issued the announcement, plus the previous Kraken, Fire Coin, BigONE, four exchanges have announced their withdrawal from the Japanese market in the past three days. Coincheck also directly suspends the Japanese and US dollar foreign exchange services. This trend is obviously not In general, KuCoin and the fire coins in the announcement also expressed the decision that they were withdrawn due to the 'Japanese law'. Although there is no official document yet, this may be the signal that Japan has once again issued a tightening of market supervision.
The following is the original text of June 28th at 20:56:
In the past two days, Kraken, Firecoin and BigONE announced that they have stopped the virtual currency trading business of Japanese residents, which has caused widespread concern in the market.
With the tightening of cryptocurrency supervision in Japan, fierce market competition, and strict taxation system, it is not easy for major exchanges to obtain a place, so it may prompt the idea that exchanges are quitting.
However, Japan’s stringent policies are mainly aimed at further improving the development of the cryptocurrency market and reducing market risks. Relatively strong domestic and foreign capitals are still optimistic about the future development prospects of this market.
The three exchanges have successively announced that they will stop serving Japanese residents.
Payward Japan, the Japanese subsidiary of Kraken, San Francisco, announced on June 25 that it will stop the virtual currency exchange business of Japanese residents, including all purchases and sales (still withdrawable). Last trading day and transaction closing time July 26, 2018 (23:59 Japan time)
The announcement also mentions that for customers who use the Kraken service in the bankruptcy proceedings of Mt.Gox (Japanese residents only), although the cancellation of the virtual currency exchange business will still be carried out on the basis of the agreement between the court and the bankruptcy trustee.
However, as early as April 17, Kraken issued a notice saying that it would gradually stop service in Japan before June.
According to Coinpost's June 27 report, Firecoin Pro announced by e-mail that it would stop providing virtual currency exchange services to Japanese residents. 'With the request of the Japanese government, Huobi Pr will suspend the virtual currency exchange service for Japanese customers. From July 2nd The Japanese page will be removed from the home page. '
As of now, Firecoin has not issued an official announcement on this news on the official website. In addition, Japanese netizens have verified the relevant personnel of the fire currency, and the official members of the fire coins answered 'Please wait for the official documents of the public' on the social network.
Firecoin customer service asked the netizen 'Will the coin withdraw from Japan'? The answer is that 'Huobi plans to stop the virtual currency exchange service, but it will not stop immediately. The time of service interruption is uncertain. For details, we will stop the service before 3 Contact the customer in the month. '
However, when visiting the official website of Huobi in Japan, a disclaimer will pop up.
The statement stated:
1. Firecoin is a company that handles electronic asset transactions through the Internet and telecommunications networks. It complies with national laws and abides by national laws and regulations. It conducts business activities. Huobi Global Limited is incorporated in the Republic of Seychelles under the relevant laws of the Republic of Seychelles. the company.
2. The coin is not registered as a virtual currency exchange according to Japan's "Fiscal knot algorithm." Therefore, we do not conduct virtual currency exchange in Japan.
3, Firefox respects the laws of Japan and does not solicit any opinions from any user (individual or company) residing in Japan.
On June 27th, the BigONE Exchange also announced the suspension of service for Japanese occupants and suspended the registration of Japanese residents. In addition, the Japanese IP address will be prohibited from July 30, 2018 (Chinese time).
Exchanges in Japan have become increasingly difficult to survive
1. Japanese regulation tightens
Nikkei staff writer MASAYUKI YUDA said that the market suspects that strict regulations in Japan are the main reason, and the profit margin of cryptocurrency exchanges is high, but the cost of operating these exchanges in Japan is becoming more and more heavy.
According to the analysis of Hatena Blog, Kraken seems to have some parts that cannot adapt to the standards and management systems required by FSA. At the same time, the transaction volume of Japanese occupants is not much, which also affects its decision to withdraw from the Japanese market.
The Financial Services Agency of Japan continues to tighten its supervision of the country, and the licensing of licenses is also stricter. Japan currently only issued 16 cryptocurrency exchange licenses. In addition, there are 16 quasi-exchanges (applicants have applied for licenses). However, it has not been approved yet, but the days of these quasi-exchanges are not good. Just last week, the Japan Financial Services Agency officially issued a business improvement order for six quasi-cryptocurrency exchanges. (For more details, please click : Shallots look at Japan | Japan's Financial Services Agency penalizes six cryptocurrency exchanges, and Bitcoin falls below $6,400.) In this environment, Japan's domestic funds may flow overseas to seek relatively free development.
Paying Japan is considered to have high performance in the operation and management of exchanges. Scallion also learned that Payward Japan is one of the 16 quasi-exchanges in Japan and is considered highly likely to receive the FSA. Registered license plate. However, this announcement shows that Payward Japan will automatically give up the FSA's license application.
According to the Shallot App consolidation, if Payward Japan is also considered as a waiver application, of the 16 quasi-exchanges in Japan, a total of 10 have canceled the registration application, one has been rejected by the FSA, and the rest have also received administrative penalties. .
2. Japan's cryptocurrency market is fiercely competitive
At present, most of the world's Bitcoin transactions are still conducted in Japan. This important market still attracts the attention of Japanese and foreign capitalists.
Previously, Singaporean entrepreneurs acquired a 100% stake in BitTrade, a licensed crypto exchange in Japan. Coinbase, the largest virtual currency exchange in the US, plans to enter Japan and plans to apply for registration during the year.
With the entry of international capital such as Coinbase, the expansion of large-scale groups such as Monex, SBI, GMO, etc. has not stopped. (For more details, see: Scallions to see Japan | Japan's cryptocurrency market battle escalation: domestic and foreign capital common attack, local The exchange is struggling)
Kraken also stated in its April 17 announcement that it is unrealistic to continue to provide services to Japanese residents. Kraken stated that leaving the Japanese market mainly includes 'thinking carefully about the costs and resources required to maintain and maintain services'. Businesses have shown exponential growth, focusing resources on strengthening services in other areas, etc., and mentioned that they will consider the possibility of resuming service for Japanese residents.
According to data from coinmarketcap, Japanese exchanges Zaif and Quoine are exempted from transaction fees. The Zaif official website further stated that for eligible users, if using the Japanese yen for Bitcoin transactions, the commission fee for spot transactions is even -0.01. %.
In the increasingly fierce 'killing' of the Japanese cryptocurrency industry, many exchanges have chosen to take a different approach and put more of their resources into overseas markets.
According to Cointelegraph, the fire coin confirmed that it opened an office in London on June 28 and will start an over-the-counter (OTC) test in the third quarter of this year. The fire currency plan provides over-the-counter trading throughout the European market.
Even Japanese social giant Line has 'shunned' the local market. According to the Yonhap News Agency, Line said it plans to establish a global virtual currency exchange 'bitbox' in July. It plans to offer more than 30 kinds of virtual currency currency transactions, not Provides legal currency transactions, not in the United States and Japan.
Japan's strict supervision and taxation policies are mainly aimed at improving the development of the cryptocurrency market and reducing market risks. At present, Japan is still open to cryptocurrencies, and the introduction of licenses into the regulation will promote the cryptocurrency in the legal framework. It operates in compliance. Therefore, relatively strong domestic and foreign capital is still optimistic about the future development prospects of this market.
4. The speed of mobile phones slows down. It is possible that hackers use mining to make bitcoins.
Has the phone's web browser become slower than usual? This could be a wrongdoer mining the bitcoin.
The virtual currency bitcoin is becoming more and more famous, and many hackers have new tactics. They put mining malware on the handheld devices, TVs and smart refrigerators, let these devices mine for themselves, thereby acquiring digital currency and saving mining. cost.
The "gold rush" problem of Cryptojacking attacks is increasing in the network security industry, affecting consumers and business organizations. Depending on the severity of the attack, the victim may notice that the processing capacity of the device is slightly reduced, but not enough. To reminiscent of hacking. However, after several months, or if the entire computer network of the enterprise is attacked, it may accumulate a lot of processing power.
Maya Horowitz, manager of Check Point Threat Intelligence at Israel's security company, said: "We have seen many organizations increase their monthly electricity bills by tens of thousands of dollars."
Hackers use the victim's device processing power to create virtual currency, that is, mining. Virtual currency mining requires a computer to perform complex calculations. In addition to installing malware for cryptocurrency hijacking, hackers may also use a web browser.
When a victim visits a web page, the computer processing power begins to mine until the victim leaves the web page. Some websites try to mine in a legal and transparent way, like Salon.com has removed the website for 3 months this year. Advertising, in exchange for user consent to let them mine.
In 2017, the security experts first raised the threat of cryptocurrency hijacking. At that time, the price of virtual currency rose and the record broke.
Hackers often infect a large number of devices as much as possible, and anti-mining application developer Ismail Belkacim said: "Everyone who has a computer processing device may be the target of cryptocurrency hijacking."
Apple and Google began to ban mining applications on the device. Some experts said that new technologies such as artificial intelligence can help quickly respond to suspicious software, but security researcher Troy Mursch believes that artificial intelligence may reduce the impact, but Unable to block cryptocurrency hijacking