Golden Observation | Suppressed by trading and mining, BTC hit a low point since February 9.

Because Musk asked Tesla to suspend accepting Bitcoin payments and criticized Bitcoin for energy consumption, Bitcoin once fell to 45,000 USDT.

In China, which is one of the Bitcoin trading and mining markets, it has been suppressed by multiple parties recently, and the price of Bitcoin has fallen from 45,000 USDT to below 40,000 USDT.

On May 18, 2021, the China Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association issued the "Announcement on Preventing the Risk of Hype in Virtual Currency Transactions", requiring financial institutions, payment institutions and other member units to effectively enhance social responsibility , shall not use virtual currency to price products and services, shall not underwrite virtual currency-related insurance business or include virtual currency in the scope of insurance liability, and shall not directly or indirectly provide customers with other services related to virtual currency.

Countdown to BTC Halving | Golden Finance Mining Earnings Report: According to Jinse Finance, according to data from the OKEx mining pool, the next BTC halving date is expected to be May 13, 2020, and there are still 27 days left before today. The current block height of BTC is 626027, and the block height of the next halving will be 630000.

Today's network computing power is about 115.67EH/s, the network difficulty is about 14.72T, and the next difficulty is predicted to be 15.97T (8.55%). There are still 6 days left before the adjustment. Today's BTC income: 0.00001709BTC/T/day. [2020/4/15]

Affected by this news, Bitpie, MXC, etc. suspended OTC functions, while the price of Bitcoin fell below 40,000 USDT, and the lowest fell to around 38,500 USDT, hitting a low since February 9.

Countdown to BTC Halving | Golden Finance Mining Earnings Report: According to Jinse Finance, according to OKEx mining pool data, the next BTC halving date is expected to be May 14, 2020, and today is 34 days away. The current block height of BTC is 625059, and the block height of the next halving is 630000.

Today's total network computing power is about 105.32EH/s, the whole network difficulty is about 14.72T, and the next difficulty is predicted to be 15.38T (4.53%). There are still 13 days left before the adjustment. Today's BTC income: 0.00001709BTC/T/day. [2020/4/9]

In addition to suppressing bitcoin transactions, many local governments have recently begun to crack down on and rectify bitcoin mining.

On May 18, 2021, the Resource Conservation and Environmental Protection Division of the Inner Mongolia Development and Reform Commission issued the "Announcement on Accepting Letters and Visits and Reports from Virtual Currency Mining Enterprises", fully accepting letters and visits from virtual currency "mining" enterprises.

Jinse Finance live reports that insurance giant MetLife Asia released InsureChain at the Coindesk 2018 Consensus Conference: Jinse Finance live report, today at the Coindesk 2018 Consensus Conference, the insurance giant MetLife Asia released InsureChain at the Coindesk 2018 Consensus Conference, which uses smart contracts Automated payments for patients, currently in trial with selected commercial partners. Subhajit Mandal of LumenLab, a partner in the project, said the project is currently going through Singapore's regulatory sandbox. The test will first be offered to 300 soon-to-be mothers in Singapore to verify how payments are made through the distributed system. After that the project will be launched. [2018/5/16]

The announcement pointed out that the Autonomous Region Energy Consumption Dual Control Emergency Headquarters Office has set up a virtual currency "mining" enterprise reporting platform to thoroughly implement the deployment requirements of the "Inner Mongolia Autonomous Region's Several Guarantee Measures to Ensure the Completion of the "14th Five-Year" Energy Consumption Dual Control Target Task" , comprehensively clean up and shut down virtual currency "mining" projects, and improve the reporting channels for virtual currency "mining" enterprises.

The specific scope of reporting is virtual currency "mining" companies (including other hidden forms of "mining" companies and entities); virtual currency "mining" companies that pretend to be data centers to enjoy preferential policies in taxation, land, electricity prices, etc. ; Enterprises that provide venue leasing and other services for enterprises engaged in virtual currency "mining"; enterprises that obtain electricity supply through illegal means and engage in virtual currency "mining" business.

The Inner Mongolia Development and Reform Commission’s acceptance of “mining” complaints this time is not a temporary decision, but a long-term policy in planning.

On February 2, 2021, the National Development and Reform Commission and relevant departments assessed the implementation and completion of the dual control measures for total energy consumption and intensity in each province (region, city) in 2019. In 2019, the dual control measures for total energy consumption and intensity In terms of implementation and target completion, Inner Mongolia is the only province that has not completed it, and the National Development and Reform Commission issued a notice of criticism to the Inner Mongolia Autonomous Region.

On February 25, the official website of the Inner Mongolia Development and Reform Commission released the "Several Guarantee Measures for Ensuring the Completion of Energy Consumption Dual Control Targets in the 14th Five-Year Plan" (Draft for Comment) to solicit opinions, proposing to control the construction scale of data centers in a reasonable and orderly manner and strictly prohibit new virtual currencies In addition to mining projects, it is also planned to fully clean up and shut down virtual currency mining projects, and all exit by the end of April 2021.

As an important place for Bitcoin mining, the clean-up and shutdown of virtual currency mining in Inner Mongolia has had a profound impact on the Bitcoin mining industry.

Due to the strict inspection of mining in Inner Mongolia, a large number of miners relocated from Sichuan, which increased the power consumption of mining in Sichuan.

At the same time, due to the economic recovery after the epidemic, the shortage of electricity and coal supply and the rise of coal prices, coupled with the rise in temperature, Sichuan's electricity load has increased rapidly since May, but the incoming water has been relatively low, and the supply and demand of Sichuan's electricity have been seriously out of line. demand. On May 16, relevant departments in Sichuan requested a temporary power cut for the big data center.

It had a serious impact on Bitcoin mining, and the computing power of the entire network dropped sharply by about 20%. According to BTC.com data, on the morning of the 17th, Ant Pool fell by 17.8%, Binance Pool fell by 14.5%, Huobi Pool fell by 23.7%, and other mainstream mining pools all fell by 6%-8%.

Beijing is also investigating the mining operations of cryptocurrencies such as bitcoin.

In April, the Beijing Municipal Bureau of Economy and Information Technology issued the "Urgent Notice on Finding out the Situation of Bitcoin and Other Cryptocurrency Mining Businesses in Our City's Data Centers", which requires that the data centers in Beijing involve Bitcoin and other cryptocurrency mining services. If relevant units are involved in related businesses, they will feed back relevant information such as the power consumption of mining business and the proportion of total energy consumption in the past year before 12:00 noon on April 28.

The Beijing Bureau of Economics and Information Technology responded to the media on the afternoon of April 29, saying that the notice was indeed issued by the bureau, mainly from the perspective of business types and energy consumption carried by the data center, for the normal business work of the bureau.

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