Since the beginning of winter, the weather in the entire cryptocurrency industry has been particularly cold.According to non niche market data, on December 16, 2017, the overall market value of Bitcoin reached a record high of $326
Since the beginning of winter, the weather in the entire cryptocurrency industry has been particularly cold.
According to non niche market data, on December 16, 2017, the overall market value of Bitcoin reached a record high of $326.5 billion, when a single Bitcoin could exchange for approximately $20000.
A year has passed, and on December 15, 2018, a Bitcoin can only be exchanged for $3194, less than a year ago's change.
In a year, Bitcoin has fallen from the "peak" to the "bottom", and the mining machine closely connected to the entire cryptocurrency ecosystem has also transformed from a "hot potato" to a "hot potato".
Recently, a reporter from Daily Economic News (WeChat: nbdnews) logged into the world's largest mining machine manufacturer - BitContinent's official website and found that mining machines that had been hyped up to tens of thousands, even tens of thousands, were difficult to obtain, and even demanded assistance in smuggling, all of which had significantly reduced their prices. Compared to the original pricing at the beginning of the year, several models have been reduced to less than a discount, with a minimum of only 300 yuan.
Futures and current prices both hit a one-year low record
On December 15th, the CME (Chicago Mercantile Exchange) Bitcoin futures BTC1 monthly contract closed down $70, a decrease of approximately 2.18%, at $3145, marking the lowest monthly contract closing record for two consecutive trading days, with a cumulative decline of approximately 4.70% this week.
CBOE (Chicago Board Options Exchange) Bitcoin futures XBT contract in January closed down $95, down about 2.93%, to $3150, also hitting the lowest closing record of monthly contracts for two consecutive days, with a cumulative decline of about 4.04% this week.
According to the non niche market, at 18:15 on December 15, 2018, the unit price of Bitcoin was $3194, the lowest in a year. The overall market value is 56.6 billion US dollars, a sharp drop of 82.7% compared to the highest point on December 16 last year, evaporating 269.9 billion US dollars.
One year after the peak of Bitcoin's market value, the market has set multiple low records, and the records may be refreshed at any time, which is a somewhat tragic scene.
BitContinent's multiple models are less than 10% off
Recently, a reporter from Daily Economic News (WeChat: nbdnews) logged into the official website of BitContinent Ant Mining Machine and found that mining machines that had been hyped up to tens of thousands or even tens of thousands at the beginning of the year have significantly reduced their prices. Compared to the pricing at the beginning of the year, several models have now been reduced to less than 10% off.
Among them, the Bitcoin mining machine T9+has the most significant price reduction.
According to the official website, the Ant Mining Machine T9+10.5T (including APW7 power supply) has a unit price of 1800 yuan. At the same time, the official website shows that the unit price of the APW7 power supply is 650 yuan, which means the actual selling price of the Ant Mining Machine T9+10.5T is only 1150 yuan.
Back at the beginning of the year, on January 3, 2018, the official account of "Ant Miner Sales" launched the sales information of Ant Miner T9+. At that time, the provisional price of Ant Miner T9+was 24900 yuan. As soon as the news came out, there was a commotion in the mining industry. At the bottom of the article, a mining friend asked, "This mining machine only has 10.5T computing power, why is it so expensive for gross sales?" Another mining friend replied, "Yes, I am also very confused. Compared to the S9, it has low computing power and high power consumption, why can it still be sold for twice the price? I don't know where my confidence lies. Once calculated, the recycling cycle is up to 6 months, and there should be no accidents in the process." At this time, a mining friend replied, "Can you talk about it again if you can grab it?" Someone quickly asked, Can you buy this
At current prices, this mining machine has dropped to 4.6% at the beginning of the year.
In terms of Litecoin mining machinery, L3+price reduction is not ambiguous
The official website of Ant Mining Machine shows that the L3+504M model currently has a unit price of 400 yuan.
Litecoin is a P2P currency similar to Bitcoin, with an expected output of 84 million LTCs. The transaction is processed through the SCrypt proof-of-work scheme.
According to the reporter's inquiry, on March 11, 2017, a merchant evaluated Ant L3+Litecoin mining machine and found that its price was 11700 yuan.
In terms of single encryption algorithm mining machines, A3 has fallen the most significantly
According to the official website, the Ant Mining Machine A3815G has a unit price of 300 yuan.
According to a reporter's inquiry, on the afternoon of January 17, 2018 at 14:00, BitContinent released a new mining machine - Ant Mining Machine A3- on its official website, which can mine all currencies of the Blake2b algorithm. Among them, the most representative is Siacoin (also known as cloud storage currency, SIA is a decentralized cloud storage blockchain project).
A total of 6000 units are sold in this batch, with a limit of one unit per account. Although the official website sells for 20800 yuan, it was sold out by miners as soon as it went public, making it difficult to find a single opportunity.
Industry insiders calculated at the time that, taking SC (Cloud Storage Coin) as an example, a A3 mining machine with a rated computing power of 815G could mine about 15 SCs per day based on the difficulty at that time, with a market price of about 0.21 yuan per SC. A mining machine with a rated computing power of 815G, equivalent to approximately 2567 yuan in Chinese yuan. Invest 20800 yuan and earn 2567 yuan a day, isn't this the chicken that lays golden eggs? No wonder it was snatched away.
The reporter once again calculated that in today's currency price and network difficulty situation, with a 0.4 yuan/KW electricity price, a A3 mining machine would generate a gross profit of 3.12 yuan per day, electricity cost of 12.24 yuan, and net companion cost of 9.12 yuan. Excluding labor and custody fees, the mining machine is truly scrap iron.
In terms of DasCoin mining machines, D3 fell equally tragically
The official website shows that Ant Mining Machine D317G has a unit price of 300 yuan.
D3 is a mining machine specifically designed for mining DASH. According to the reporter of Daily Economic News (WeChat: nbdnews), DashiCoin was born in 2014. Compared with Bitcoin, DashiCoin has higher anonymity and faster transaction speed.
Since the beginning of 2017, the price of DasCoin has skyrocketed from a few dollars to hundreds of dollars. In August 2017, BitContinent officially launched the DasCoin mining machine D3. At that time, the official website price was 11300 yuan, but now it has dropped to 2.7% of the original price, leaving only a fraction at the end of the original price.
Image source: BitContinent official website
BitContinent's main source of revenue is mining machine sales
On the evening of September 26th, Bitmainland disclosed its prospectus on the Hong Kong Stock Exchange and launched its listing plan. As the world's largest ASIC based cryptocurrency mining company, BitContinent has a market share of 74.5% and is estimated to be valued at $30 billion.
The prospectus released financial data for BitContinent as of June 30, 2018. According to data, BitContinent's net profit in 2015 was 49 million US dollars, in 2016 it was 114 million US dollars, in 2017 it was 701 million US dollars, and in the first half of 2018 it was 742 million US dollars.
Correspondingly, in 2015 and 2016, BitContinent sold 230000 and 260000 mining machines respectively, and only sold 180000 mining machines in the first half of 2017. After catching up with the bull market from the end of 2017 to the beginning of 2018, BitContinent sold 1.44 million and 2.56 million mining machines respectively in the second half of 2017 and the first half of 2018, totaling 4 million machines!
Moreover, it is worth noting that in 2017, BitContinent's mining machine sales revenue accounted for 89.9% of the company's total revenue; In the first half of 2018, it reached a higher level of 94.3%.
That is to say, in 2017 and the first half of 2018, BitContinent's net profit of $700 million was achieved through the sharp increase in currency prices and the shortage of mining machines.
Reporter | Song Ge and Liu Yongsheng (Intern)
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