What are the changes and future of cryptocurrency-related industries?
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What are the changes and future of cryptocurrency-related industries?

Since June this year, China has banned cryptocurrency mining. Based on this, how should the miners choose? Which related industries have been affected? What is the future direction of the cryptocurrency industry?

Where is the new mining farm?
From the perspective of policies, electricity prices and the environment, Canada and the United States are the best. First, Bitcoin is recognized in American law in terms of policy, and both companies and private individuals can own Bitcoin. Then, there is policy support, whether it is the exchange of bitcoins and US dollars, or the company's participation in bitcoin mining, and related blockchain technology research and development. In terms of electricity prices, the overall cost in North America is relatively low. For example, the primary electricity price in Quebec, Canada, should be close to six Canadian dollars, plus other miscellaneous costs may be almost eight Canadian dollars. In terms of the environment, the central region of the United States, because it used to be a gathering place for heavy industries, has a very developed power infrastructure in that place. As a result, its environmental quality should be the best in a country other than China.

From the perspective of the migration of miners, going out to sea mainly revolves around North America and Central Asia. With its friendly mining policy and preferential power supply plan, it attracts most miners to move to mine.

Which industries in China will be affected when miners go to sea?
For the miners-related industries in China, the investment in infrastructure is a significant drain for the miners.Secondly, the shutdown of the mining farm is also a considerable loss to the local development.

In addition, miners going to the sea will also impact the energy industry and the industrial chain of miner research and development, production and sales.

How do relevant companies respond to the changes brought about by the mining ban?
This is because if companies go to sea, they need professional teams to provide services. So from this perspective, companies should speed up the construction and layout of overseas mines.Whether it is equipment or miner service, we will strengthen it.

Among them, ViaBTC has begun to focus on overseas markets more than two years ago. Today, it is already a global operation company, and domestic computing power is not high. In the future, we will continue to unswervingly and deeply advance the internationalization strategy.

What is the future direction of mining?
In the process of Bitcoin's continuous development, the hardware equipment of various miners is also constantly upgraded. So far, as a classic bitcoin miner, the Antminer S9 is known as the "generation miner king" of the bitcoin mining circle. Since its birth, most miners have praised it, and it has become a very popular bitcoin globally. Antminer S9 adopts a precision die-casting design and aluminum alloy material, which provides vital protection for chip operation and improves the overall heat dissipation efficiency of the fuselage.

Is it feasible to hold currency?
First, from the perspective of China's current policies, companies can't risk policy risks to mining or hold currency. Second, digital assets can not be return money in China, so they will not become part of corporate assets, and naturally, companies cannot do it.

To sum up, we have a general prediction about the changes and future of cryptocurrency-related industries. Regarding the new outlet for miners, there is no doubt that the United States, Canada, Russia, Kazakhstan and other countries will be the first choice. At the same time, domestic mining-related supporting industries will also follow this trend to go to sea with a high probability; and after domestic miners leave, The power-related energy industry is generally considered to be affected to a certain degree; as for the cryptocurrency mining industry after moving away from China, in the future, computing power and technology are generally considered to become more distributed and diversified. In addition, currency holding is also a form of business involved in the cryptocurrency industry. However, because of the funding problems of mining companies, it is generally believed that this cannot quickly transform it.

Today, there is little mining in China. After the miners of all sizes go to sea, their operating conditions and their overseas policies and environmental adaptability still need time to verify.

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