Bitcoin mining mathematics
When there are continuous funds to buy BTC in overseas markets, it will cause the price of Bitcoin in the US dollar market to be greater than that in the USDTBitcoin mining mathematics market. This is why BTC on overseas exchanges led by Coinbase has experienced varying degrees of premiums some time ago. At this time overseas market institutions began to take action, including some international brick-and-mortar parties. They will use USDT to buy BTC, then transfer to the U.S. dollar market to exchange for U.S. dollars, and finally exchange U.S. dollars to Tether to exchange USDT, thus cyclical arbitrage. During this process, USDT continues to flow out of Tether, and the final result is that the supply of USDT in the market exceeds the demand.
However, if the bitcoin transaction price is lower than the total production cost, it will indeed affect the average profitability of miners. If the profit margins of Bitcoin mining are squeezed, and the falling prices increasingly tend to be the cost of electricity, then inefficient miners will either choose to shut down, or mine other cryptocurrencies, or pursue other new business models. When these situations happen, we will see one thing: Bitcoin network computing power drops.
Kelly Loeffler had previously transferred from a retail analyst in Chicago to a private equity firm in Texas. Loeffler spent about a year on this new job before being appointed by his boss to join a troubled power exchange in Atlanta. Loeffler studied the natural gas market and believed that the time for electronic trading was ripe. He joined ICE in 2002 when the company had fewer than 100 employees.
In addition, a representative of an exchange told CoinDesk that during this incident, the exchange added a daily withdrawal limit. Especially for PAX transactions, the limit for verified accounts is now $20,000, and the limit for unverified users is now $1,000. The wave of arbitrage may have affected the vaults of an exchange, resulting in three wallets holding approximately 78% of GUSD in circulation. Gemini declined to comment on the reasons.
For example, the diameter of the rocket was determined by the buttocks of two horses more than two thousand years ago: the width of the two high war horses in the Roman era was 145 cm, which determines the width of the chariot, and the width of the carts of ordinary people must be the same. , So as to follow the ruts left by the chariots on the road, so in the vast Roman Empire, every road was built 145 cm wide. This standard entered Britain with the march of the Roman Legion. Later, when the railway was built, although horses were no longer needed, the track width was naturally still 145 cm.
AndreasisoneofthemosteloquentspeakersonthetopicofBitcoin,butifhehadinvestedeven$300inbitcoinbackin2012,he'dbeamillionairetoday. (Andreas (Author of "Mastering Bitcoin") is the best speaker of Bitcoin. If heBitcoin mining mathematics bought Bitcoin for even $300 in 2012, he is now a million Rich man.)-Bitcoin Jesus RogerVer
Of course, there is another problem that is often mentioned, which is the Triffin Dilemma in economics. In layman's terms, because the U.S. had the largest gold reserves at that time, the world used the U.S. dollar to anchor gold. The U.S. was responsible for exporting U.S. dollars to the world through a trade deficit. However, in this case, exporting U.S. dollars is equivalent to exporting gold because countries can get U.S. dollars to the United States To exchange for gold, in the long run, the US dollar will not be able to maintain its stability.