Bitcoin hashrate rises

Ⅰ Bitcoin has risen so much recently, is it really reliable to mine Bitcoin with a mobile phone?

Now the computing power has increased a lot, and the mobile phone can’t mine half a Bitcoin in a year. Ordinary desktop There is no way to mine one a year, and a dedicated mining machine is used.

Ⅱ Will the price of Bitcoin increase due to the halving?

Not necessarily. But the overall trend is bullish.
On November 28, 2012, BTC halved for the first time, rising from $2.01 to $1178, an increase of nearly 600 times;
On July 10, 2016, BTC halved for the second time, from $163.65 rose to $19800, an increase of more than 120 times;
It is expected that in May 2020, BTC will undergo its third halving.

Ⅲ What does it mean behind Bitcoin’s surge?

Bitcoin bulls often mention that the scarce value of this encrypted digital currency is the main reason for its continued rise. Bitcoin is somewhat similar to gold in that its supply is growing extremely slowly and steadily, and its total supply will only reach 21 million.

Global exchanges such as the Chicago Board Options Exchange have launched bitcoin futures contracts amid growing institutional and retail interest in bitcoin. The move is likely to encourage more institutional investors to invest in it, while at the same time further curbing bitcoin’s price volatility.

The highly anticipated Bitcoin futures trading has gone live on the CBOE, which represents a major step forward on the path to legalization of the cryptocurrency. Futures are a derivative/financial instrument that forces traders to buy or sell an asset at a specific time and at a specific price.

Ⅳ A bitcoin has risen to 220,000. If you use a home computer to mine, how long will it take you to mine one

After surpassing the peak in 2017, After breaking through the $20,000 mark, Bitcoin still hasn’t stopped soaring. According to the Bitstamp market, Bitcoin broke through the $34,000 mark, setting a new all-time high.

You know, as early as 2010, a programmer in the United States exchanged 10,000 bitcoins for a pizza worth $25. Today, a bitcoin has risen to a high price of 220,000 yuan.

Therefore, the author suggests that ordinary people who want to take the opportunity to invest should not invest too much. After all, Bitcoin’s sharp rise and fall is the norm, so investment risks are high, and you need to be cautious when entering the market.

ⅣWhy Bitcoin will rise

The reasons for the rise: 1. Self: Decentralization (organizations cannot freeze your Bitcoin), difficult to crack, and certain anonymity. 2. When social problems occur, people are concerned about the preservation of traditional currencies: For example, in 2013, in order to obtain a 10 billion euro emergency aid loan from the European Union, the government of Cyprus will impose a deposit tax on local bank depositors. Everyone is in danger, and they are scrambling to exchange their currency for Bitcoin to avoid policy risks. It then spread to many countries in the euro zone. Triggered Bitcoin’s first massive rally. For example, the new crown black swan event in 2020, the global “big water release” (negative interest rate), the decline of the influence of the US dollar, the people and the government need means of asset preservation. 3. With the popularity of blockchain, a large number of institutions have entered the market. Traditional financial institutions, listed companies, and the opening of paypal channels to buy coins have all pushed Bitcoin up, but due to limited supply, demand has soared, driving prices up.

Ⅵ See how Bitcoin confirms bullish or bearish levels from the daily line Thank you!

How to use three technical indicators to understand the rise and fall of Bitcoin

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How to use three Technical indicators understand the rise and fall of Bitcoin
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Recently, “Bitcoin breaks through $8,000” has been on the hot search. For a time, Bitcoin rose, Ripple soared, and Ethereum led the rise… A week later, this big drama dominated by Bitcoin seems to have no intention of ending, and the transaction volume was once pushed up to hundreds of billions of dollars.

In the world of investing, “madness” and “fear” coexist. Today’s “madness” stems from the long-term “fear” last year. However, this time, the CoinCola Research Institute tracks and analyzes the technical indicators behind the rising market, and uses the “rationality” of data to deconstruct the “passion” of the market. .

(1) Mining and Bitcoin price

Let’s start with the relationship between mining and Bitcoin. The core technology of Bitcoin is “blockchain”, which is connected by blocks, each block corresponds to a bill, and all Bitcoin transaction information and transfer records are recorded on the block chain. Every other time, the Bitcoin system will generate a random code on the system node. Due to distributed accounting, all computers on the Internet can search for this code. Whoever finds this code will generate a block, and then get the bits. coin, this process is mining.�Calculating this random code requires a lot of GPU operations, so miners need to use mining machines with massive graphics cards to mine profitably.

1. Bitcoin Hashrate: Begin to Recover

Remarks: 2018.6-2019.5 Bitcoin Hashrate

Data Source: bitcoinvisuals , CoinCola Research Institute

The above picture is the Bitcoin hash rate (Hashrate) performance chart. The hash value of the Bitcoin network represents the computing power (i.e., computing power) of the blockchain. The increase in computing power means that miners increase mining investment or increase the number of miners. Since the second half of 2018, the hash rate has rebounded from a fall to a rise, from 32EH/s at the end of the year to 50EH/s now, and the recent growth trend is significant. Continued growth in Bitcoin’s hashrate (representing computing power) indicates that the market is optimistic about Bitcoin’s future expectations.

2. Mining Difficulty: Step Up

Remarks: 2018.6-2019.5 Bitcoin Difficulty

Data source: bitcoinvisuals, CoinCola Research Institute

The above picture is the Bitcoin Difficulty graph. Since 2019, the difficulty of Bitcoin mining has increased in steps, from 5T at the low point to 7T now. It can be seen that the rapid rise of Bitcoin in this round has reduced the mining cost and increased the number of people entering the market. The increase in mining difficulty means that there are profit opportunities in the cryptocurrency market, and the market is generally optimistic.

(2) On-chain indicators and Bitcoin price

The number of active addresses on the chain and the number of transactions on the chain are important indicators to reflect the activity of cryptocurrencies, which are closely related to the number of active addresses on the chain and the number of transactions on the chain. Price has a high correlation.

1. The number of active addresses on the chain: straight up

Remarks: 2018.6-2019.5 The number of active addresses on the Bitcoin chain

Data source: coinmetrics , CoinCola Research Institute

Active addresses refer to the addresses that have transactions every day, that is, how many independent addresses perform transfer transactions on the chain every day. Since 2019, the number of active addresses on the Bitcoin chain has continued to rise, and it has recently shown a linear increase. From the January low of 540.60143K to now 832.592K. It indicates the rapid growth of active cryptocurrency users, which is a very positive signal for the market to be positive.

2. The number of transactions on the chain: continued to rise

Remarks: The number of transactions on the Bitcoin chain in 2018.6-2019.5

Data source: bitinfocharts, CoinCola Since 2019, the number of transactions on the Bitcoin chain has continued to rise, from 235K at the beginning of 2019 to 374K now. Moreover, since the Bitcoin price experienced two rounds of sharp rises in April and May, the number of transactions on the chain has remained at a high level, and even showed signs of a short-term surge.

(3) Lightning Network and Bitcoin Price

In essence, Lightning Network adds a layer to the base layer of the Bitcoin blockchain, in order to make transactions Fast and cheap. With the existence of the Lightning Network, users can send money to each other at any time and pay only a small fee. Lightning Network not only represents the technical level of Bitcoin, but also an important basis for the realization of Bitcoin’s value.

1. Lightning Network Nodes: Rapid Growth

Remarks: 2018.1-2019.5 Bitcoin Lightning Network Nodes

Data Source: bitinfocharts, CoinCola Cola Research Institute

The test version of the Lightning Network was launched on the Bitcoin mainnet on March 15, 2018. The number of Lightning Network nodes was only 64 at the beginning of 2018, and increased to 2,329 at the end of the year. Since 2019, the number of Lightning Network nodes has grown rapidly, and now it has reached 4,289. In less than half a year, the number of nodes has doubled. The continuous expansion of nodes indicates the continuous upgrading and development of Bitcoin Lightning Network technology, which is an important indicator of Bitcoin price.

2. Lightning Network Capacity: Accelerated Growth

Remarks: 2018.1-2019.5 Bitcoin Lightning Network Capacity

Data Source: bitcoinvisuals, CoinCola The data from the Ying Cola Research Institute

The above data shows that as of May 15, 2019, the capacity of the Bitcoin Lightning Network has increased to 1039 BTC, which is equivalent to 833 USD, while at the beginning of 2019, it was only 504 BTC. The network capacity has doubled and the growth rate has accelerated. This means that the expansion of Bitcoin has been better solved in the Lightning Network technology, which will help the Bitcoin payment channel to remain active and effectively support the functional application of Bitcoin.

The performance of mining, on-chain transactions, and the Lightning Network is closely related to the Bitcoin price. On the one hand, the rise of Bitcoin price is like a catalyst, stimulating its performance in mining, on-chain and Lightning Network; on the other hand, mining, on-chain transactions and Lightning Network are important cornerstones of Bitcoin’s price trend An important basis for Bitcoin price expectations.

Edited on 2019-05-21
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VII How long does it take to mine a bitcoin

Bitcoin is a network virtual currency. The Bitcoin network generates new bitcoins through “mining”. The so-called “mining” is essentially using a computer to solve a complex mathematical problem to ensure the consistency of the distributed accounting system of the Bitcoin network. Assuming that the mining computing power is 100Mhash/s and the total daily computing power is 4000Ghash/s, then 3600 bitcoins can be mined every 24 hours.

China’s computing power has accounted for more than 75% of the world’s total, which means that 75% of the world’s bitcoins are made in China. So how long does it take to mine a bitcoin?

In the past, bitcoin was very easy to “dig”, and it could be done by ordinary computer CPU. Just download the software to “solve the problem” automatically. However, as the currency price rises, more and more people want to “solve the problem”, and mining becomes more and more difficult. Now, the amount of computation required to mine a Bitcoin is simply beyond the reach of ordinary people, so don’t even think about ordinary computers.

Industry insiders said that in 2014, 500,000 yuan of electricity produced 100 bitcoins per day, and the electricity cost alone cost 5,000 yuan per piece. But by now, the same cost has more than doubled, with electricity costs as high as 10,000 yuan per bitcoin.

In the generation mechanism of Bitcoin, the mining reward is decreasing. At the beginning of Bitcoin’s birth, miners could get 50 bitcoins for each page of the ledger, and then 25 bitcoins were rewarded for each page, which decreased in turn. Just like digging for gold, you dig a lot at first and then less and less. Every time the new reward is reduced by half, it is called the Bitcoin production halving.

Assuming that the mining computing power is 100Mhash/s, the total computing power per day in 2014 is 4000Ghash/s, and 3600 bitcoins are mined every 24 hours.

Now, we can understand the difficulty of mining Bitcoin in this way, which is equivalent to throwing a number less than 100,000,000 from 100 million dice. Whoever throws it first will get the accounting right. At this point, 100 million and 50 is a hash value, the process of throwing dice is called hash collision, and the unit of mining computing power is how many hash collisions per second.

At present, the computing power of the entire Bitcoin network reaches 2.36 trillion hash collisions per second, which is equivalent to the number of water droplets in more than 200,000 standard swimming pools with a length of 50 meters. But even with such a large computing power, it takes about 10 minutes to collide with a hash value that meets the requirements.

Bitcoin had its first production halving in 2012. In July 2016, Bitcoin had its second production halving. The current reward for recording a page of the ledger is 12.5 bitcoins. The next halving will take place around 2020, and the total number of bitcoins will not increase by 2040, and the total number will be 21 million.

Related video: How long does it take to mine a bitcoin

Ⅷ Why is bitcoin soaring

Bitcoin is a cryptocurrency, but because it was originally used for The blockchain technology locks the market area, so the number of bitcoins in the market is certain. while the user�� To get bitcoins, it takes electricity and computing power to “mine” bitcoins, so mining machines appear. A simple metaphor is that a mining machine is a machine used to mine bitcoins. Its emergence has enabled coin-mining players to improve the efficiency of coin-mining, and it has also promoted the rapid development of the industry.

Cryptocurrencies have exchanges, but their prices are determined according to changes in the stock of the market. Many people want to buy bitcoin and other currencies, they have to go to these exchanges to buy, sell and other operations. In other words, the exchange provides a platform to facilitate everyone’s transactions such as Bitcoin. Because of its encrypted nature, it is difficult to achieve unified deployment and implementation of relevant measures at the regulatory level, so many countries prohibit bitcoin transactions.

But even so, Bitcoin still has a high transaction value, part of which is the labor and cost of mining coins, and part of it is due to market factors, the total amount of coins is certain, then Every time a coin is mined, there is one less. From the perspective of marketization, the value of Bitcoin will be higher and higher. Therefore, many people believe that Bitcoin has a lot of room for appreciation, and many investors choose to hold Bitcoin for a long time. As a result, the underlying Bitcoin value is locked. Later, bitcoin was also used in some social activities. For example, some foreign companies used bitcoin to pay their employees, and even bitcoin could be used for shopping and consumption.

Once the underlying value is determined, Bitcoin’s skyrocketing and slumping are mostly dominated by market behavior. This uncertainty is even greater, and the market fluctuates more frequently. In the absence of relevant credit endorsement support Under the circumstance, naturally once there is any trouble, it will cause a large fluctuation in the value of Bitcoin.

IX Why is Bitcoin so valuable

Why is Bitcoin so valuable?

Finally, Bitcoin is gradually recognized by various platforms

At present, some countries recognize Bitcoin, such as Germany, Japan, Canada and other countries have recognized its legal status as a currency. In addition, the market push will also push up the price of bitcoin, such as Bitfinex, Huobi, ANX, etc., which affect the rise of bitcoin price due to its support for bitcoin transactions. Coupled with the fact that some platforms have begun to test bitcoin payments, people are very optimistic about the prospects of bitcoin, and they have entered the market, so the price is also soaring.

The advent of the Internet era and the ever-breaking economic crisis in the legal currency era have caused countless peace-loving people to reflect.

The reason why Bitcoin can be recognized as a legal currency by the Chicago Board of Trade is mainly due to the following factors:

Because Bitcoin is the first blockchain currency, there are collections Value, global popularity, and the natural property of building consensus. The essence of currency is consensus, and it has the potential to become a digital antique in the future. A large number of blockchain currencies are created by Bitcoin alone.

Anonymity, no one can deprive you of your bitcoin property, as long as you remember the key (confiscation of property, social unrest, division of land, etc. cannot exist)

Portability , fiat currency is worthless in the war, gold is difficult to transport, and you can leave with a slap in the ass (the recent tension on the peninsula has led to a large-scale purchase of bitcoin in South Korea, bitcoin in South Korea exceeded $25,000, and gold plummeted. “, this time the value of gold has been crushed by Bitcoin.

Transaction convenience, global cross-border transactions are barrier-free, low handling fees, as long as there is Internet.

Mystery , experience the cool secret key of Agent 007. The existence of a person like Satoshi Nakamoto (the richest man in the world is only a matter of time) everyone does not know who he is. A few codes in hand are valuable, super cool 007 cryptography Experience.

The cost is high, the production cost of bitcoin is extremely high, and the production will be cut in half in 2020, and the mechanism is that it is more and more difficult to mine.

Legality, almost all countries have not announced bitcoin Bitcoin is illegal, including China, and developed countries are very friendly to Bitcoin, such as Japan.

High profitability, Bitcoin has risen by 10 million times, which is the largest bubble in human history! This rate of return has attracted Countless investors participate, just control the risk well, and invest within the scope of your risk tolerance.

Thinking that there are only so many for the time being, the only risk of Bitcoin is security, without security, Bitcoin will not have any Meaning, it is theoretically absolutely safe at present.


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