The blockchain winter has arrived. Is it to find a way to spring or just retreat?
It is rare for a person to experience several industrial upgrades in his life. It is precisely in this trend that wealth can be doubled, and the blockchain is undoubtedly the biggest outlet at the moment. But the ever-declining currency price is clearly saying that the winter has come. In the cold winter, how to find a way to preserve the fire and accumulate it? After the cold winter, how should we soar into the sky and lead the industry to a smooth path? Babbitt will launch a series of special articles, hoping to show you the state of the blockchain industry in the cold winter by interpreting live cases and analyzing the macro market, and to find a road through the cold winter to spring. At 3 pm on the 11th, Bitcoin's latest quote was $6076, a 24-hour drop of 5.95%. In the past two weeks, the price of the currency has fallen by nearly 30% from its peak. XMX, PNT, NPXS, DOGE, KIN, DCN... Whether you have heard of it or not, these once popular tokens have come to the edge of "return to zero". In addition to the decline in currency prices, we have also seen that the blockchain has been misfired by the media; institutional investors’ pockets are deflated, and they are more cautious in spending money. Entrepreneurs have to lobby around for money; even those WeChat groups that have invested in candy in the sky Also pitifully deserted. I thought that Bitcoin ETF would bring huge benefits, but the boots were slow to land, followed by a series of declines. Various signs indicate that the cold winter of blockchain has really come in the hot summer. On August 1, I left the traditional media where I worked for three years to become a blockchain content reporter. The idea at the time was that instead of sticking to the old industry, it is better to choose a fast-growing field and get the benefits of growing with the industry. Blockchain undoubtedly fits this vision. It has disruptive technologies comparable to cloud computing, artificial intelligence, and big data, the myth of getting rich quickly, fiery entrepreneurial passion, numerous media reports, and great conjectures to transform human production relations. Not only the concept is hot, but also the currency price. In early July, news that the U.S. Securities and Exchange Commission (SEC) may apply through the Bitcoin ETF was raging, which made the Bitcoin-based digital currency usher in a general rise, and the slogan of "recovery" in the market shook the sky. In an offline gathering on "How to Invest in Blockchain", Ran Bo, a guest who is good at short-term operations, reminded more than 40 investors in the secondary market: "Rational investment, you can't borrow money to invest, you can't stud." An audience member immediately stood up and interrupted the speech: "The bull market is coming, why not make a re bet?" Someone posted in the WeChat group: "Bitcoin is expected to surpass 15,000 US dollars at the end of the month. I will not be able to send a red envelope." Unfortunately, the market quickly changed its face. From July 25 to August 9, Bitcoin fell all the way from $8,364 to around $6,300, shrinking by 25%. On July 21, Bianews reported that at around 9pm on the 20th, ARP, a digital currency that only rose but did not fall, suddenly fell precipitously. In just 5 minutes, the price of ARP for ETH dropped from RMB 1.45 to about RMB 0.2, the highest drop of 86%. On July 31, the XMX token, a digital currency project invested by Yuhong, a celebrity in the currency circle, also experienced a sharp drop in price. The outside world once believed that the coin was close to zero. The bull and bear switched overnight, which made me suddenly realize that where the high-speed train was climbing, it was a roller coaster. Usually, the best way for media people to enter an industry for the first time to accumulate contacts and organize topics is to attend industry conferences. But my colleagues told me that the blockchain industry summits that started in the world in the first half of the year were blooming everywhere, and the second half of the year was pitiful. A business person in charge of a media said that there are indeed fewer conferences, because the companies that dominate the blockchain conference are misfired. On August 7, the Global Digital Financial Ecological Fund held an inauguration ceremony in Suzhou. The project leader is Fenbushi Capital and traditional PE advantage capital. A fellow reporter sighed: "This kind of conference was full before, but now it's no longer possible. The guest position is only two-thirds of the space." The media who arranged the interview on the spot can also be counted with one hand. Recently, Feng Jun, known as the "first person in the blockchain newsletter", said in an interview with the media that the blockchain media competition has entered the second half. After the big wave scoured the sand, only more than 100 blockchain media emerged from more than 1,000 blockchain media in half a year. "Some unprofessional so-called blockchain'media' are difficult to get investment, so they'die'." The article said that Feng Jun has read many project weekly reports, and 30% of the expenditure is spent on the media, and 50% Handed over to the exchange for listing, 20% is really used for doing things. Why is there less blockchain media? The head of media business sneered: "Before, bad entrepreneurs under the banner of blockchain self-media, while reporting internally, while participating in the project listing, now financial freedom, who wants to keep in the sluggish market? What?" He complained that there are fewer projects, and this year's advertising business is a bit worried. Bai Kun is a serial entrepreneur. He started from the Internet to cross-border blockchain in 2016. He is currently the CEO of the project Bixiaobai. The project is positioned in the information and services of the blockchain industry, and claims to be "Coin Circle 58 City". The Bixiaotianshi round plans to raise 10 million yuan and sell 15% of the equity. Currently, it has received investment from Huobi Ecology, Huang Tianwei and Chuangshi Capital. "Nowadays, the primary and secondary markets are generally short of money, and the overall environment is not as good as before." Bai Kun still remembers that a large amount of funds poured into the blockchain industry after June 2017, but at that time public chain and air coin projects were thriving, and there was a lot of money. There are few projects, and any project can usher in a large amount of funds as soon as it emerges. That is the honeymoon period for capital and entrepreneurs. Nowadays, the good times are gone. Bai Kun summarized the current financing market: the investment quota has become smaller, multiple cooperations will replace one contract production, the team and project inspections are more stringent, and the post-investment incubation efforts have been strengthened. Really? Away from me, a colleague in charge of investment business sighed with me: "Investment institutions are also cold, the price of tokens has fallen, and returns have fallen. Each institution has a lot less funds. Investment projects have to be more cautious. As project requirements increase, valuations have to be lowered." However, the performance of different investment funds varies greatly. Investment institutions that have been working in the industry for a long time have sufficient ammunition. And the investment institutions that came in in 2018 are tragic. Not to mention the income, it is good to not lose, and it will be more uncomfortable in the winter. According to statistics from OK Capital, there were 114 newly listed projects in July, an increase of 137.5% month-on-month, and the percentage of shares broken within 24 hours of going online was 70.2%. In July, there were a total of 203 public fundraising projects around the world, an increase of 103% from the previous month, but the total amount of funds raised was only US$1.26 billion, a decrease of 41.5% from the previous month. Statistics from ICOdata.io show that the total amount of global ICO financing has plummeted from US$1.522 billion in January this year to US$107 million in July. The attractiveness of blockchain jobs fell out of the top ten, no one shouted "60 thousand monthly salary recruiting editor" Reporters should be the hardest job, holding the money for selling cabbage, fucking with the heart of selling white powder. However, the blockchain gives media professionals the opportunity to make a complete comeback and reach the pinnacle of life. At the beginning of the year, a screenshot of a WeChat chat went viral. Due to the shortage of talents, a company offers a monthly salary of 30,000 for blockchain content positions. Assuming a technical background, the maximum can be increased to 60,000. BOSS direct employment data shows that in the first quarter of 2018, the average recruitment salary for blockchain technology positions increased by 31%, ranking first. The HR of a large mining machine company once complained: Employees keep leaving their jobs because they have free wealth after working for a period of time. However, when the hour hand moved to the second quarter, the data directly hired by BOSS was not very optimistic. The salary of Golong technical positions closely related to the blockchain fell by more than 4% from the previous quarter, and the attractiveness of related positions to talents fell out of the top ten. By August, I couldn’t even talk about my treatment. Bai Kun said that the salary of Bixiaobai's employees is above the average salary of Chengdu Internet company, but it is within the normal range. "When the tide goes down, you will know who is not wearing swimming trunks." Buffett's golden sentence is still applicable in the blockchain industry. Meng Jing was originally the co-founder of the Qixinbao project. At present, she and her friends are preparing a new entrepreneurial project to provide new storage and computing infrastructure services for the public chain, DAPP, and APP based on new technologies such as IPFS and FILECOIN. She was looking for investment and said that the feeling of lack of money and the downturn in the industry did not exist. On the contrary, investors reminded her to do it steadily and never issue coins. Meng Jing feels: "Smart money will find good projects. Mud can't help the wall. Industry shuffling is inevitable and even necessary." A colleague in charge of investment told me: “Looking at the secondary market in the long run will not affect the primary market, Ethereum appeared in the 2014 bear market.†Yu Wenbo, executive director of Fenbushi Capital, said in an interview: "It is normal for the market to have ups and downs, and it is now back to a rational state. Fenbushi Capital has its own investment rhythm and is not affected by the external environment." From some dimensions, the blockchain is indeed cold, but for the leading companies, the big waves may be the beginning of the accumulation of strength. On May 20 this year, the Information Center of the Ministry of Industry and Information Technology released the "2018 China Blockchain Industry Development White Paper", which is the first official blockchain industry white paper in China. The report pointed out that the application of blockchain is gradually extending from the financial field to the physical and service fields, including electronic information storage, product traceability, Internet of Things, intelligent manufacturing, supply chain management, etc. From industry to industry, this should be the most powerful official affirmation of blockchain development. "Blockchain entrepreneurship must be down-to-earth, pragmatic and innovative. After winter is spring." Bai Kun told me on the phone that he must write this sentence to him. In the past half month, many people expressed their views on the future to me like Bai Kun, but the most memorable sentence came from Bytom chain founder Duan Xinxing. He said: "Although the industry has a bit of coolness, it will always be spring for those who take root in it." Litecoin (LTC) is a cryptocurrency created as a fork of Bitcoin in 2011. It uses a hashing algorithm called Scrypt that requires specifically designed mining software and hardware. It is minable, and continues to rank in the top cryptocurrencies for value and trading volume. Ltc Asic Miner,Antminer L3 Plus Plus,Bitmain Antminer L3 Plus,Bitmain L3 Plus Shenzhen YLHM Technology Co., Ltd. , https://www.ylhm-tech.com
Litecoin mining is the process of validating transactions in the blockchain, closing the block, and opening a new one. Litecoin uses the proof-of-work consensus mechanism, which uses computational power to solve the nonce, which is part of the hash, that secures the block. The hash is the alphanumeric sequence of numbers that is encrypted by the hashing algorithm. When the nonce is solved, Litecoin is rewarded.
Litecoin mining became popular in 2011 when Charlie Lee, a software engineer at Google, announced its creation as a Bitcoin fork with modifications intended to help it scale more effectively.
Just like Bitcoin, it can be mined on computers using central processing units and graphics processing units. However, it isn't as profitable or competitive as purchasing an application-specific integrated circuit (ASIC) and joining a mining pool.