In addition, the Pool-X mining pool also empowers other businesses of the exchange. According to TOP, although Pool-X operates independently, it has Ethereum plasmaa very deep cooperation and intercommunication relationship with KuCoin: users must use KuCoin accounts to log in to the mining pool platform; if Pool-X users want to trade or withdraw assets, they also need to transfer first Go to KuCoin savings account.
In fact, not only the miners, but the sluggish Bitcoin also has a great impact on the mine owners. Researcher OKEx Research analyzed the "Securities Daily" reporter. On the one hand, many mining farms are still using Ant S9 mining machine for mining. Now the price of Bitcoin has plummeted, and the Bitcoin income from mining is far lower than the loss of electricity. Old models such as the Ant S9 basically need to be shut down, but the costs of plant rents and depreciation of mining equipment still exist, so the loss of the mine owner is considerable. On the other hand, some time ago, affected by the industry's "halving market", many mine owners expected that the price of Bitcoin would usher in an increase, so some mine owners would increase leverage to buy spot. After the price of Bitcoin collapsed, the losses of leveraged mine owners will be even greater.
Signs of the central bank's loss of control are becoming more apparent. Every time the Fed injects liquidity into the market, the liquidity disappears, and people have to inject more liquidity, otherwise the market is at risk of collapse. The central bank cannot explain the disappearance of trillions of dollars, but without this liquidity, the market will not function properly.
Second, since one of the current main use cases of stablecoins is to obtain revenue from decentralized financial platforms, this may be the incentive required for traditional finance to start to look at the ongoing innovation of blockchain financial applications with an open attitude. New savings products can attract new customers, which in turn can accelerate the transformation of traditional banking, which may also encourage new stable currency issuers to innovate further.
However, for those mining companies that have invested in the construction of mining facilities and mining machines are already in operation, the smaller the number of new miners, the more beneficial they are. In this regard, Kevin Shao of Canaan Technology explained that existing miners may see more stable mining revenue, but now because of the lack of new mining machines in the market, there will be no more competitors entering the market. But he added that there is still a bit of risk: if the mining machine fails, many mining equipment service providers may not be able to provide timely after-sales service to repair the mining machine.
In fact, the biggest disadvantage is that this product requires the support of two major hardware: chip card (electronic wallet) and reading and writing equipmenEthereum plasmat. Nowadays, accounts can be paid directly on the mobile banking or payment company’s APP. You don’t even need to carry a physical bank card, and no one is willing to bring reading and writing equipment. But this shortcoming seems to be solved now, because later, the cloud flash payment has solved the hardware problem, it can be operated directly on the mobile phone, and the mobile phone can be used as an electronic wallet, and electronic cash can be stored in it, saving it Trouble with hardware.
The current algorithmic stablecoin projects are still in the experimental stage, and cannot achieve price stability, and may even amplify market fluctuations. Judging from the current situation, only projects in the Ethereum network have received relatively large financial support, while projects on other blockchains may only have locked positions of several million dollars. Algorithmic stablecoins rely heavily on mechanism innovation. Some mechanisms come directly from academic papers. If a sufficiently excellent mechanism can be designed, it may lead to the application of algorithmic stablecoins. In addition, in the LPtoken mining stage of algorithmic stablecoins, especially relying on professional knowledge related to game theory, ordinary users can participate in stablecoins at the beginning.
It was reported on December 15 that the paid membership rules of Pornhub, the world's largest adult website, have changed and currently only accept cryptocurrency payments. It is reported that the New York Times published an article saying that P station was filled with a large number of adult videos uploaded not by the parties’ wishes, which aroused widespread attention. Under the fierce criticism of public opinion, Visa and Mastercard announced an investigation. And stopped the settlement service provided for it.