Recently, the price of bitcoin has continued to fall. As of the current time, the price of bitcoin was 3,642 US dollars on November 27, 2018. The price of bitcoin plunged 81% from the highest point of 19,886 US dollars last year, and the market value evaporated by 263 billion US dollars. For all new users of the 2018, they experienced several consecutive plunge and suffered heavy losses. For the users of mining, it is even more difficult.
It is reported that a number of cloud mining platforms have been declared closed because the Bitcoin cloud mining contract has been unable to pay electricity and management fees for ten consecutive days. In response to this situation, OXBTC as the old-fashioned cloud mining platform established in China in 2014, launched a policy of extending the contract period, extending the observation period of contract closure from 10 days to 90 days. If the contract revenue is higher than the electricity fees on any day within 90 days, the contract can be resumed and the cloud mining contract is still valid. The risk caused by the large fluctuations in the currency price is greatly reduced.
The contract period of a general cloud mining contract is permanent. As we all know, the normal life of a mining machine is generally about 2 years, and the physical life will end. However, another risk is not ruled out, that is, the currency price has plummeted. Therefore, many cloud mining platforms will have an additional conditional cloud mining contract for 10 consecutive days of actual income insufficient to offset the electricity bill, then the contract is terminated.
OXBTC knows the risk of currency price fluctuations in the near future. In order to protect the rights and interests of users, it has created a 90-day observation period: when the mining revenue is less than the electricity expenses, the contract will suspend mining; when this situation occurs continuously for 90 days at the time, the contract will be terminated. However, if the mining revenue is higher than the electricity bill within 90 days, the contract is still valid.
The world moves and on, 90 days is enough for the market to give a direction, and users have time to make adjustments and decisions. As someone said, energy should not be concentrated on predictions. No one can predict 100%, but focus on reaction. That is what happens, how do I react. That is the strategy. Develop a strategy and then execute it. If the strategy is wrong, modify the strategy.
In this round of bear market, there are many platforms disappeared and shutting down. First, the ICO project side disappeared, and the famous star project consumer chain (CDC) is the most famous one. The founder Yang Ning is a well-known angel investor in the Internet industry. After selling in peak price, he confessed his fault but told that cryptocurrency was not reliable, and treat the investors are mentally retarded. Then there is the exchange disappeared, take the innocent investors’ Money away. There are very few platforms that can really stay and do things. After this round of bear market, the companies that still survive will surely become the stars of the next round of bull market.
In 1926, the Russian economist Nikolai Kondratiev, after analyzing a large number of statistics of Britain, France, the United States, Germany and the world economy, discovered a long period of 50-60 years in the developed commodity economy, and that is called super cycles. The super cycles is divided into four phases, rising, prospering, recession, and depression. However, in the cryptocurrency circle, this time period may be shorter. After the depression period, will spring be far behind?
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