吴说区块链real · 10

Filecoin will release 25% of blocks to reward miners “stuck in stakes” How difficult is it?

FIL staking is still a problem in the short term, and the establishment of an official lending platform may be the key. On the morning of the 18th, Protocol Labs posted news on Slack that it may upgrade the FIP-0004 improvement proposal next Wednesday/Thursday. The main content of the FIP-0004 improvement proposal is “the block reward that the miner previously mined was released for 180 days, but now 25% of the block reward will be released immediately, and the other 75% of the reward will still be released linearly for 180 days.” Let's look at two things first: 1. In the official Filecoin China group, it can be seen that miners raised questions about economic models to the government. 2. In the eyes of the public, Chu Hang's “complaints” about the official economic model in the circle of friends seem to think that it is true that the official economic model is not friendly to miners, but this is not entirely true. According to the author's understanding, the miner community is actually not as difficult as they described. Publicly making these remarks is just trying to put pressure on the government and seek more benefits for themselves. Let's discuss the facts below: After the “test coin” = “real money” mainnet was launched, the government did migrate all sectors in Space Race 1 and 2 to the main network as promised. Not only that, but the stakes and rewards received for these sectors were also moved to the main network (however, the rewards were released after 540 days). Originally, FIL, the test coin on the test network, and FIL on the main network would have a certain percentage of replacement relationship. As a result, the official FIL did not branch at all. The FIL on the test network is directly the main network FIL! The official statement is that the staking of these sectors and the block rewards received will also be transferred to the main network to reward miners who helped stress tests, improve protocols, and prepare for the launch of the main network throughout the space race. According to the block explorer, there are now 19 million FIL in circulation across the network. This 19 million FIL is tradable and circulable, and the FIL pledged in the machine has already been deducted. You need to know that all official private equity and public offerings are released linearly for 6 months, and the daily amount is less than 300,000. Why is there such a large circulation? The reason is that the test coins during the first and second tests were actually the main network coins, which is equivalent to the miners pre-mining the main network coins for a long time before the private equity release, so most of the FIL currently in circulation in the market actually comes from the miner community. Miners who “curse the girl” while “really fragrant” are now growing at 145.48T/H per hour, which is about 3.4P per day. It is indeed much slower than the testnet, which does not require a pledge period, but the computing power is still growing. The main reason is that now running computing power has become a real money pledge, so no one is fully satisfied with the performance of their machines. However, the initial increase in computing power had a big impact on the share of miners' effective computing power, that is, FIL output, so in order to guarantee the output of their mining machines, mining machine manufacturers will still use a portion of FIL to pledge computing power, including “complaining” about the official space-time cloud in the circle of friends. Based on the current 0.187FIL/32G fan blade pledge ratio, the network's computing power growth rate is 145.48T/H, which is about 3.4P/ day. Every day, the pledge requires 20,000 FIL. With this change in the release rules, the pledge problem can be mitigated. In response to mining block reward staking, a small portion (25%) of block rewards is allowed to be immediately released to miners, while most (75%) of block rewards still need to be released linearly according to 180 days. FIP-0004 Currently, the pledge amount for a single fan blade is 0.187FIL, a single T pledge is 5.984FIL/T, and the current single T yield is 0.255 FIL/T. If you follow this revised economic model: a single T produces 0.255 FIL/T, 0.063 FIL is released immediately, then 180 days after that. This approach can indeed ease the relationship between pledge and output. It will move the balance between pledge and output forward, but it is still severe. The impact on the long-term market is actually quite a few Filecoin fork projects. Among them, there is no shortage of players with strong backgrounds, but overall, miners still chose FileCoin when choosing to “stand”. The main reason is that the government is still doing a good job of “binding” miners. Whether it's the inheritance of effective computing power during the test period or the inheritance of block rewards,...

2133d agody zhang#Filecoin #mining #Pledge business

A number of OTC traders have entered the central bank's disciplinary list, and bank risk control efforts have been strengthened

This year is a year for the Central Bank of China to crack down on money laundering. Due to the inability of the renminbi-cryptocurrency to comply, OTC merchants that walk on the edge have been targeted. Many OTC companies have stopped doing business, and the industry is bleak. Wu said blockchain only learned that recently, many OTC merchants stopped non-counter transactions for all bank cards under their personal status because they were on the central bank's “punishment list,” and “they are not allowed to open a non-counter card for 5 years, and they are not allowed to open a non-counter counter for 3 years.” This means that in addition to facing traditional public security system investigations and card freezing, banks and central banks around the world have also begun active supervision, and the latter's crackdown continues to increase. The logic behind the incident is: because the central bank of China cracked down on money laundering this year, but mainly delegated responsibilities and obligations to major banks and financial institutions. Under such circumstances, bank anti-money laundering monitoring has become very strict, and any account opening needs to go through the anti-money laundering system. Rumor has it that a local bank has even directly stopped all card processing operations in order to crack down on money laundering. Wu said that blockchain has also revealed that China Merchants Bank has been the hardest hit, with card freezing in the coin industry (6): China Merchants Bank “insanely” blocked credit cards of many people in the coin industry, and a large number of credit cards were directly frozen. In this case, because mainstream banks have large amounts of user data and transaction data, they will be more sensitive to identify money laundering, virtual currency transactions, etc. when identified through artificial intelligence and other algorithms, so the probability of mainstream banks freezing cards is higher. People familiar with the matter revealed that the specific process is that after the bank's own system has alerted and restricted transactions, it will be reported to local central banks. After review, the central bank will issue a corresponding punishment list, and finally, similar penalties such as “not being able to open a credit card for 5 years, not being able to open a private cabinet for 3 years” as described above appear. On September 18, the Guangxi Public Security Bureau and the Nanning Central Branch of the People's Bank of China announced the list of the first batch of 1091 bank account traders, requiring that the punished individuals be suspended from all bank account operations other than counter transactions and all payment account operations within 5 years, and not to open new accounts. Also announced at the same time were places such as Quanzhou, Putian, Wenzhou, and Laibin. As a place with many pyramid scheme cases in Guangxi, an OTC dealer from Nanning suspected of assisting telecom fraud criminals to launder money was investigated and caught by the police on May 20. Although some OTC companies have entered the punishment list, the current public information focuses more on “new criminal cases involving organizations and individuals suspected of trading accounts, impersonation, and telecommunications networks.” However, in OTC cryptocurrency transactions, this kind of behavior also often occurs. Some merchants that engage in RMB OTC require employees to use personal bank cards to conduct transactions. On the side of Huobi, the largest OTC platform, recently carried out a wave of PR. The information conveyed to the outside world is that normal cryptocurrency transactions are not illegal; they can only be frozen if they involve black money or black production, and it is indicated that Huobi has carried out extensive technical prevention and control of this. However, in reality, since there are no corresponding rules and regulations, financial institutions have different criteria for judging cryptocurrency transactions. Strict ones, such as CMB, cryptocurrency transactions have always been part of anti-money laundering. In 2018, the Hong Kong branch of China Merchants Bank issued an announcement: According to relevant requirements, if China Merchants Bank Hong Kong Branch discovers that a transaction involves virtual currency in a customer account, the use of the account may be terminated. Industry sources pointed out that judging from the current situation, it is not just about black money that is frozen; the act of trading cryptocurrencies itself may also trigger banks' risk control mechanisms. However, the latter is relatively manageable for individuals, and there are fewer complete freezes; for OTC merchants, they have to use someone else's account, but this may be investigated and punished again, or even put on a “black list.” Risk Alerts According to the “Risk Reminder on Preventing Illegal Fund-raising in the Name of “Virtual Currency” and “Blockchain” issued by five departments including the Banking Insurance Regulatory Commission, everyone is requested to establish a correct investment concept. The content of this article does not endorse the promotion of any business or investment activities, and investors are invited to raise awareness of risk prevention. Source: Wu says blockchain is real...

2159d agody zhang#Cryptocurrency regulation #Risk Alerts

How did liquidity mining, which set off the DeFi wave, eventually die?

Liquidity mining was the starting point of this DeFi wave. Currently, Chinese players are beginning to copy it. As long as you have basic financial knowledge, you can predict that it will eventually die like this. The rise of liquidity mining starts with two concepts: “liquidity” and “mining” liquidity: any market needs to be traded at any time, that is, it requires buying and selling. The combination of buying and selling is called market liquidity. Short-term transactions in the financial market do not trade the securities themselves; they are essentially trading risk. The market only provides a place for risk to circulate, and traders reap benefits from taking risks. Market participants also price current risk, and voting on risk is a buy/sell price. Anyone who has speculated on coins or stocks should know that in the financial market, they are not afraid of not making money, nor are they afraid of getting caught; what they are most afraid of is running out of liquidity. If you think about these waves of sharp rises and falls this year, do they represent a sudden increase in the value of Bitcoin? It's not! Instead, the market lacks rivals. When liquidity is exhausted in the market, prices will show a sharp one-sided trend, which may even endanger the survival of the entire market. This is the importance of liquidity to the market. Mining: “Mining” in the blockchain world comes from Bitcoin. For a complete financial system, the additional issuance of system currency needs to be considered “to whom?” , “How many posts?” , “What are the criteria for judging?” These problems allow the system to enter a self-operating distributed system through incentives for ecosystem participants and maintainers. On the other hand, the token initially had no value. Through mining, the value was finally anchored and captured, making the token scarce and “costly to acquire.” For example, under the POW mechanism, miners invest in computing power and operation and maintenance in exchange for block rewards and participate in transactions in the secondary market, so they have the concept of “shutdown price.” Liquidity mining: Having understood “liquidity” and “mining” clearly, let's combine them to define “liquidity mining”: it refers to the process of obtaining profits by depositing or lending specified token assets as required through DeFi products with a mining mechanism to provide liquidity to the product's capital pool, thereby increasing the activity and usage of the product. Take the Compound project as an example. As an Ethereum-based DeFi protocol, Compound's main business is collateral lending. According to DeFiPulse, Compound's hedged amount was approximately $650 million on July 7. Users can secure their assets to obtain annualized income, or pay corresponding interest to lend assets. At the same time as borrowing and loans, they can obtain a certain amount of COMP, the governance token distributed by the system. What is the underlying logic of high yield in liquidity mining? Let's talk about the conclusion first: In liquidity mining projects, the price of project tokens often rises as participation capital increases. Under such circumstances, the increase in the number of participants and capital locked in the platform will drive the price of the project token to rise, while the increase in the price of the project token will in turn continue to stimulate more capital to participate in the platform's liquidity mining. The participation of high-liquidity capital will further increase the token price. This forms a cycle, and even spawns a kind of “false prosperity”, a “pseudo-Ponzi spiral.” Source: Alberquilla Source: Not small Take the Compound platform as an example. Borrowers can get 50% of the daily COMP token distribution as long as they borrow on the Compound platform, and as long as the value of the COMP obtained can cover the repayment interest rate, they can arbitrage without loss. This is also the main reason why the number of loans has risen rapidly as the COMP price rises. Also, take the popular YFI project as an example. Users can complete different liquidity mining strategies through yearn.finance, which is a liquidity mining aggregation platform. On July 17, 2020, yearn's hedged position (TVL) on Curve was approximately $8 million. Three days later, as of Monday July 20, 2020, that number had risen to $147 million. The rise in TVL drove the price of its governance token YFI, which surged from an initial valuation of $30 to $13616. Can the high returns of liquidity mining continue? Liquidity mining is fresh for Westerners, and they also called it “Yield Farming,” but after this wave of analysis, we found that the model seems very familiar. Isn't this just the FCoin model back then? FCoI...

2185d agody zhang#DeFi #Liquidity mining

Electricity consumption in the Sichuan-Yunnan Bitcoin mine is being pressured by greater pressure, and the amount of direct electricity supply is increasing

Wu said blockchain learned that recently industry insiders are generally concerned that profits from the national grid have plummeted, huge losses on provincial power grids, or pressure on hydropower plants and mines in places such as Sichuan and Yunnan will have a negative impact. On July 22, Mao Weiming, chairman of the State Grid Corporation and Party Secretary, revealed at the mid-year meeting that the net profit of the State Grid in the first half of this year was 5.66 billion yuan, a year-on-year decrease of 81%. In the “National Electricity Supply and Demand Situation Analysis and Forecast Report for the First Half of 2020" released by the China Telecommunication Union on July 29, the China Telecommunication Union also revealed this information — the overall loss of power transmission and distribution business in the national power supply industry in the first half of the year, and provincial power grid companies lost nearly 70% of their losses. The net loss of the State Grid in the first quarter was 926 million yuan, down 106.03% from the previous year's net profit of 15.358 billion yuan in the same period last year. Mainly because of the impact of the pandemic, of course. From this perspective, the national grid revenue has already recovered to a certain extent in the second quarter. However, at the same time, due to the need to stimulate the economy due to the need to stimulate the economy, the “policy to promote the reduction of enterprise production and operation costs and reduce industrial and commercial electricity prices by 5%” proposed in the State Council government work report was extended until the end of the year. The national grid is facing greater revenue pressure. The proposal put forward by the China Telecommunication Union is to raise funds for general industrial and commercial electricity price reduction through multiple channels; clarify who cross-subsidize, and resolve the issue of cross-subsidized electricity prices. For mines, “raising funds for general industrial and commercial electricity price reduction through multiple channels” means that direct electricity supply from hydropower plants will be cracked down on, mining electricity will be included in the revenue category of the national grid, and electricity consumption will be supported; “clarifying cross-subsidized subjects to solve the electricity price cross-subsidy problem” may clean up subsidy projects such as big data in northwest China and other places. Mountain rain is about to fill the building. Some mine owners have revealed that they have received signs of contraction and are worried. However, in the opinion of Sichuan Government Document No. 26 on the reform of the Sichuan Electric Power System in '18, it was proposed to actively and steadily explore and promote “dedicated line power supply” and “direct power supply” pilot projects, carefully formulate pilot plans, and carry out pilot projects for the construction of hydropower consumption industry demonstration zones near power supply points with serious water waste. Therefore, power plant owners are also fighting for the survival of direct power supply based on this article. Since this year, power grid companies in Sichuan, Yunnan and other places have continued to launch activities to clean up direct power supply. Yunnan Power Grid published an article on April 13, stating that according to preliminary screening of the comprehensive electricity consumption rates of 134 hydropower plants and 11 thermal power plants included in provincial balance regulation in 2019, the comprehensive electricity consumption rate connected to the grid in most cities was abnormally high to varying degrees. The document calls for a comprehensive clean-up of the problem of unauthorized power transfer in grid-connected power plants. The Sichuan State Grid issued a document on May 28 calling for regulation and control of electricity supply to illegal plants, but avoiding a “one-size-fits-all” regulation and management method. For those that meet the policy requirements and are willing to connect to the public grid, make every effort to provide good services; for power plants and power supply enterprises that refuse to rectify unauthorized direct supply practices, relevant issues will be dealt with in accordance with the law and regulations. Recently, electricity consumption has peaked due to high temperatures in Sichuan and Chongqing, requiring load allocation. As a result, a large number of mines have lost power. There are also concerns among miners that the power grid level is using this to knock on the mine's electricity consumption. According to the miner's statement to the mining network, the power grid frequently draws the load from hydropower stations for a short period of time this year. The purpose is to make direct power supply mines lose power frequently and force miners to use the park's electricity. There are some old sites that used to have very stable direct power supply. This year, electricity was frequently switched by the power grid and power outages have caused the miners to suffer. Mining machines have also been damaged a lot due to frequent power outages. However, there is also good news. The Baihetan Power Station, which was originally scheduled to mainly transmit electricity to the outside world, has left a certain amount of electricity to be supplied to Sichuan and Yunnan. The first batch of units is scheduled to generate electricity in July next year, or to ease the shortage of electricity to a certain extent, which is beneficial to next year's abundant water period. Source: Wu says blockchain is real...

2199d agody zhang#mining #Mining circuit #Mines

Central Party School Press's new book “Talking to Leading Cadres about Blockchain”

What kind of book is this? This book is detailed and comprehensive, focused, illustrated, and rich in case studies. It introduces the basic situation of blockchain technology from the global context and the current state of blockchain development in China, focuses on the basic composition and application direction of blockchain technology, and provides a detailed analysis of the key areas of the blockchain industry and its development, which helps readers understand the overall situation and main direction of the blockchain industry. This book has an objective and calm understanding of the main problems and security risks faced by blockchain development, and proposes ideas and countermeasures for blockchain security and the rule of law based on systematic analysis. In the post-pandemic era, blockchain has become an important part of new infrastructure. The book can be used as a reference for leading cadres to make decisions on blockchain technology and applications, and also allows readers to quickly grasp the development trends and trends of blockchain technology. Who is the author of this book? Professor Huang Zhen, professor at the Central University of Finance and Economics, director of the China Internet Finance Innovation Research Institute, chief economist of the Beijing Internet Finance Industry Association, director of the Internet Finance Center at the International Financial Forum, an expert member of the National Internet Finance Security Technical Committee, a senior researcher at the Chongyang Institute of Finance Research of Renmin University of China, vice president of the Beijing Internet Finance Law Research Association, and a postdoctoral supervisor at the Shenzhen Stock Exchange. Source: Wu Says Blockchain Real

2237d agody zhang#blockchain #Leading cadres

You must be wary of OTC transactions that touch on these 7 crimes and may be found to be a crime

For OTC traders, the most worrying thing is whether the thing they do themselves is actually considered a legal business. You need to know that OTC trading earns hard money. You first have to save money and coins, then work hard every day on the computer, and endure fluctuations in currency prices before you can finally earn some profit yourself. Hard work is acceptable; after all, it's about making money. But if you end up in jail because of this, you'll lose a lot. I am a good citizen, diligently watching computers and doing business every day. What I earn is a hard work of money. As a result, if I accidentally get myself into it, why should I do it? However, there is nothing you can do about it; digital currency is inherently unpopular in China. From an official perspective, it can't get on the stage; the public can do whatever they want, but it can't cause crime. However, digital currency is naturally favored by bad people. After all, it is easy to circulate (it only takes a few minutes from one end of the Earth to the other), has good anonymity (the deposit and withdrawal address is a bunch of numbers and letters), and easy to monetize (OTC transactions), and is simply an excellent medium for Xi money. Judicial case research revealed that since 2016, there have been 158 criminal related cases involving digital currencies, involving various crimes such as pyramid schemes, fraud, drug trafficking, and theft. Here, it should be explained that conventional digital currency trading is 100% legal. In '13, documents from five ministries and commissions determined that digital currency is a legal item. Since it is a legal item, there will be no problem with trading. Since then, many judicial decisions have confirmed this. What OTC merchants do is buy and sell digital currency. They use fiat to buy digital currency at a low price online, then sell digital currency at a higher price in exchange for fiat, and they earn the difference in price. As a result, for OTC merchants, most of these crimes have nothing to do with them. Except for one: the crime of concealing criminal proceeds or proceeds of crime. In the cases retrieved, the person involved mainly committed this crime because of some misconduct in the digital currency trading process. Therefore, OTC merchants must take this crime very seriously. Let's take a look at this crime in detail: [the crime of concealing or concealing the proceeds of crime] A person who knows that the proceeds of crime and the proceeds of crime is concealed, transferred, purchased, sold on behalf of others, or disguised or concealed by other means, punishable by up to 3 years in prison, criminal detention, or control, and a single fine; if the circumstances are serious, a fixed-term prison sentence of at least 3 years and not more than 7 years, and a fine. If a unit commits a crime as set forth in the preceding paragraph, the unit shall be fined, and supervisors directly responsible for it and other persons directly responsible shall be punished in accordance with the provisions of the preceding paragraph. I don't know if anyone can see it. The key to distinguishing between a crime and not is knowing that it is the proceeds of crime and the proceeds generated by it. In other words, if you know that the money you bought the currency came from a crime and made a deal with the other party, you will commit this crime. Having said that, I think everyone will breathe a sigh of relief. After all, if you don't take the initiative to ask, who knows how the other party's money came from, and even if you ask them, they won't tell you, so it's definitely fine. It's actually not that simple. The definition of “knowing” here is not what we think; rather, there is a specific legal definition: (1) knowing that another person is engaged in criminal activities to assist in the conversion or transfer of property; (2) assisting in the conversion or transfer of property through illegal means without a valid reason; (3) buying property at a price clearly lower than the market without a valid reason; (4) assisting in the conversion or transfer of property without proper reason, and charging a “fee” that is significantly higher than the market; (5) assisting others to spread huge amounts of cash in multiple bank accounts or transfer them frequently between different bank accounts without proper reason Yes; (6) Assisting a close relative or other person with a close relationship to convert or transfer property that clearly does not match their occupation or property status; (7) Other circumstances where it can be determined that the perpetrator is aware. As can be seen from this, for an OTC merchant, if the price is too low when receiving coins, charges too high processing fees, helps people save money in multiple accounts, and helps acquaintances save large amounts of money from unknown sources, it is all “aware.” In other words, as long as you do these things, you are suspected of committing a crime, even if you don't know where the money came from. If OTC merchants run into someone asking you to do this kind of thing, they can't agree even if the bid is high; otherwise, they really want to go in. You can refer to this case “Exclusive: Suspected OTC Merchant in Nanning Arrested on Suspected of Using USDT to Help with Telecom Fraud and Money Laundering” Author: Attorney Xia Wei Source: Wu Says Blockchain Is Real...

2244d agody zhang#OTC #bank card

The annual hydropower consumption of the Sichuan mine is expected to double by 5 billion kilowatts next year

Wu said blockchain learned that Sichuan Electric Power Trading Center Co., Ltd. said that the annual electricity transaction in Sichuan in 2020 has now been completed. Among them, the hydropower consumption industry demonstration zone transaction currently sells about 1,371 billion kilowatt-hours of electricity. Furthermore, industry figures expect the total volume to be 5 billion degrees for the whole year, which will be a record high. The annual electricity consumption of the mine in Sichuan is about 30 billion kilowatts, and the hydropower consumption park will account for 1/6 of the electricity consumption. This figure is expected to double next year as compliance progresses. 1,371 billion kilowatts is equivalent to the annual electricity consumption of a large mine. The main reason is that the annual hydropower consumption transaction ended at the end of April. The mine in the consumption area newly built this year did not catch up with the annual transaction; it was only possible to carry out monthly transactions later. 1,371 billion kilowatts is mainly the statistical annual electricity transaction volume. Monthly transactions have not yet been counted; it is estimated to be 5 billion kilowatts for the whole year. According to the data, 19 enterprises in Ya'an participated in the construction of a hydropower consumption demonstration zone in 2019, with a total transaction volume of 374 million kilowatt-hours. By the end of May, 27 customers in the Ya'an Hydropower Consumption Demonstration Zone had signed trade contracts this year, with a total contract capacity of 857.5 million kilowatt-hours, more than double that of last year. In other regions, Leshan City has identified 15 enterprises to participate in hydropower consumption transactions involving 573 million kilowatt-hours of electricity. Ganzi Tibetan Autonomous Prefecture added 439 million kilowatt-hours of electricity sales to the Big Data Park, increasing revenue by 123 million yuan; Ganzi Power Supply Company's electricity sales exceeded 2.1 billion kilowatt-hours, reaching the highest level in history. Among them, Kodi Big Data used 193 million kilowatt-hours of electricity in May, with an annual electricity consumption of about 1.44 billion kilowatt-hours. Among the first batch of “hydropower consumption demonstration enterprises” announced by Sichuan, Xiaojin County Kedi Big Data Storage Technology Co., Ltd., Heishui Cody Big Data Technology Co., Ltd., and Marcon Cody Technology Co., Ltd. all ranked among them. Staff at the Sichuan Electric Power Trading Center explained that if an enterprise chooses a comprehensive electricity price for the whole year, the transmission and distribution price is 0.105 yuan per kilowatt-hour under the single system; if it chooses to dispose of water and electricity, the transmission and distribution price can reach as low as 0.04 yuan per kilowatt-hour under the single system during the flood season. This means that according to the electricity price policy in the demonstration zone, compared with the transmission and distribution price standards for large industries in the Sichuan power grid approved by the state, enterprises can spend 0.149 to 0.24 yuan less per kilowatt-hour of electricity. Wu said blockchain learned that the electricity price of eligible enterprises in the hydropower consumption demonstration zone was about 0.065-0.075 yuan/kilowatt-hour in the Fengshui period. In addition to the transmission and distribution price of 0.04 yuan/kilowatt-hour and a government fund of about 0.02-0.047 yuan/kilowatt-hour, the price of electricity to households was 0.135-0.162 yuan/kilowatt-hour, but not including land costs, high voltage costs, and other factors. The overall price of managed electricity is still around 0.22. Furthermore, since this year is the first year that the Sichuan Hydropower Consumption Industry Demonstration Zone policy has actually been implemented on a large scale, many project formalities have not been completed, and construction has been delayed, or some of the mines that have been built have failed to coordinate electricity. However, several major projects have already been able to buy electricity, and the operation is relatively stable; however, in the end, electricity prices vary from company to company. Industry insiders said that the most troublesome part of a hydropower consumption project was the processing of various approval procedures, which took time and money. After completing dozens of special reports and formalities, the second was the State Grid access system plan, preliminary design, construction drawing design, etc., which usually cost several million dollars; finally, discarding the amount of water and electricity to buy, without accumulated experience in multilateral trade policies, it would be impossible to buy electricity or electricity prices were very high. It is reported that in the near future, the Sichuan Provincial Department of Economics and Credit and the Sichuan Electric Power Trading Center will announce the list of enterprises included in the hydropower consumption demonstration zone for the second and last batch of this year. In August 2019, the General Office of the Sichuan Provincial Government issued the “Implementation Plan for the Construction of the Sichuan Hydropower Consumption Industry Demonstration Zone”, which decided to launch pilot hydropower consumption industry demonstration zones in 6 cities and states, including Ganzi, Panzhihua, Ya'an, Leshan, Liangshan, and Aba. These regions are remote and have poor transportation. Heavy industries that use a lot of electricity are almost impossible to invest locally; the only ones that actually use electricity are mining companies. In April of this year, the Sichuan Ya'an Municipal People's Government officially issued the “Implementation Opinions on Building a Hydropower Consumption Demonstration Zone to Support the Development of the Blockchain Industry”. This may be the first time in 18 years that a local government has clearly issued a document to support mining during the flood season, which is very rare. At the same time, due to conflicts of interest between the consumer park and the direct power supply mine, the development of the consumer park will squeeze the living space of the direct power supply mine. The Sichuan State Grid clearly issued a document emphasizing the protection of compliant mines and cracking down on direct power supply mines. Some direct power supply mines have already lost electricity. On the afternoon of the 17th, the State Grid Sichuan convened a meeting of 25 power plants to call for control of illegal direct power supply mines. But in '18, the Sichuan government...

2251d agody zhang#Sichuan #Mines

“Sichuan Bitcoin Mine” became an exam question A simulated geographical questionnaire for the Chinese college entrance examination appeared many times

The annual Chinese college entrance examination is coming soon. Wu said that blockchain inquiries have found that “Sichuan Bitcoin Mining” questions have appeared in many college entrance examination simulated geography papers, including the original sprint simulation paper for the 2020 National 100 School Joint Examination New College Entrance Examination, full simulation of the Henan Zhengzhou Foreign Language School college entrance examination (3) comprehensive liberal arts geography test questions, and 15 simulated college entrance examination geography topics for the five-year college entrance examination. Wu said that blockchain believes that Bitcoin mining has entered the geographical exam question many times, which shows that it has indeed become a widely publicized water phenomenon. The questions and answers on the test questions are all relatively fair. It mentioned that Bitcoin mining solved the problem of electricity and water disposal in Sichuan. It is of some significance for more ordinary people to learn about the Bitcoin and mining industry. Title: As an internet currency, Bitcoin has the characteristics of high returns and high risks. More than 70% of the world's Bitcoin production capacity is located in China. A Bitcoin “mining farm” is a factory that uses a large number of computer servers to obtain bitcoins through computation. The “mine” computer consumes a lot of electricity to operate and cool down. Mabian County in Sichuan is rich in water energy resources, but hydropower plants generally waste water. Some stored water is not directly discharged downstream through the generator set, and the water energy utilization rate is less than 80%. In recent years, Bitcoin “mining” clusters have appeared in Mabian County. These Bitcoin “mines” migrate seasonally between this area and the northwest region of China every year. Focusing on this material, there are the following four topics: (1) Analysis of the reasons why water abandonment is common in Mabian County. (6 points) Reference answers: (1) The amount of water in rivers changes greatly from season to season, and hydropower plants divert water; (2 points) There is seasonal excess hydropower production capacity, and supply exceeds demand; (2 points) There is a spatial mismatch between electricity supply and demand, and the power output capacity is insufficient. (2 points) (2) Speculate the characteristics of seasonal migration of Bitcoin “mining sites” and explain the reasons. (6 points) Reference answer: Move to the northwest region in winter and return to Mabian County in summer. (2 points) Reason: In winter, rivers in Mabian County enter a dry period. Hydropower generation is small and electricity prices are high; thermal power and wind power are relatively abundant and cheap in northwest China; (2 points) In winter, the temperature in the north is lower, making it easier for servers to dissipate heat and reduce energy consumption; (2 points) In summer, rivers in Mabian County enter the flood season, with plenty of water and electricity prices. (2 points) (3) There is a phenomenon of Bitcoin “mines” buying hydropower plants in Mabian County. Please explain the reason for this phenomenon. (4 points) Reference answer: Bitcoin “mines” have huge electricity demand. Having autonomous hydropower plants can guarantee a stable supply of electricity; Bitcoin “mining” is a power-oriented industry. Owning hydropower plants independently can reduce electricity costs and increase economic benefits; Bitcoin is profitable, and there are funds to support the acquisition of hydropower plants. (Optional 2.4 points) (4) Some people think that the continued expansion of the Bitcoin industry in this region should be limited. Please explain why. (6 points) Bitcoin is risky and earnings are unstable; Bitcoin computing consumes a large amount of electricity, leading to insufficient electricity supply in the real economy; excessive waste heat emissions may cause fires and safety hazards; Mabian County's economic infrastructure is poor, and supporting service capabilities such as server operation and maintenance are insufficient; large-scale server operation and noise pollution is high. (Answer: 3.6) In addition to this, there are also some related topics that appeared in the 2019 College Entrance Examination Geography Ultimate Sprint Simulation Volume: Source: Wu Says Blockchain Real...

2265d agody zhang#Bitcoin mining farm #Matriculation

Sichuan and Yunnan power systems crack down on direct power supply mines

Wu said blockchain only learned that the power systems in the two provinces of Sichuan and Yunnan are making efforts to rectify direct power supply mines. Among them, Sichuan issued a document emphasizing the protection of compliant mines and cracking down on direct power supply mines. Some direct power supply mines have already lost electricity. Under the influence of the epidemic, the profit of the national grid was negative in the first quarter, which hit traditional direct power supply mines, which was beneficial to consume the interests of mines in the demonstration zone and the national grid, but it was tantamount to a disaster for small hydropower and direct power supply mines. Yunnan Power Grid published an article on April 13, stating that according to preliminary screening of the comprehensive electricity consumption rates of 134 hydropower plants and 11 thermal power plants included in provincial balance regulation in 2019, the comprehensive electricity consumption rate connected to the grid in most cities was abnormally high to varying degrees. The document calls for a comprehensive clean-up of the problem of unauthorized power transfer in grid-connected power plants. Most of the miners in Sichuan learned and told Wu about blockchain. The Sichuan State Grid issued a document on May 28 calling for regulation and control of electricity supply to illegal plants, but avoiding a “one-size-fits-all” regulation and management method. For those that meet the policy requirements and are willing to connect to the public grid, make every effort to provide good services; for power plants and power supply enterprises that refuse to rectify unauthorized direct supply practices, relevant issues will be dealt with in accordance with the law and regulations. The entire county in Ya'an directly released the remediation case. On June 2, the Ya'an State Grid Tianquan County Power Supply Company, in conjunction with the County Economic Science and Technology Bureau, the Public Security Bureau, and mobile and telecommunications companies, rectified the illegal connection of electricity equipment to the Tianquan County Ganxipo Power Station and Jiaojiping Power Station within the Ya'an Power Grid for Bitcoin “excavation”. (Picture from the official account of SecondSpeed Wu Centimeter) The article said that the power indicators transferred to blockchain companies without permission were transcribed and archived separately from the Ganxipo Power Station and the person responsible for the operation of the power plant and the electricity company in breach of contract to further verify the illegal “mining” behavior, and inform the power plants and enterprises involved in the illegal use of electricity to carry out immediate rectification. According to the article, power generation companies have transferred supplies to blockchain companies without permission, in violation of the “Electricity Purchase and Sale Contract” signed with the State Grid Corporation, and also violated relevant regulations such as the “Electricity Law of the People's Republic of China” and “Electricity Supply Business Rules”. The County Bureau of Economics, Science and Technology, the Public Security Bureau and the power supply company adopted the policy explanation of the “Implementation Opinions on Building a Hydropower Consumption Demonstration Zone to Support the Development of the Blockchain Industry” to promote the development of blockchain technology and industry, cultivate and develop the blockchain industry with the advantage of electricity prices, and promote clean energy consumption for hydropower with additional electricity consumption. The State Grid Tianquan County Power Supply Company will continue to work with relevant municipal and county departments to strengthen supervision and inspection of the electricity supply order in the development of the blockchain industry in the supply area, and resolutely crack down on illegal electricity use according to law and regulations. Ya'an is the city in Sichuan that is most active in promoting hydropower consumption demonstration zones. It issued the “Implementation Opinions on Building a Hydropower Consumption Demonstration Zone to Support the Development of the Blockchain Industry”, which calls for seizing major strategic opportunities for the development of the blockchain industry, promoting the healthy and orderly development of blockchain technology and industry, promoting high-quality consumption of hydropower resources, and cultivating new growth points for economic development. Source: Wu says blockchain is real...

2269d agody zhang#Yunnan #Sichuan #Mines

Yunnan Dehong Prefecture issued a document regulating 64 mine demolition projects within a limited period of time and strict investigation of the province's power system

Wu said blockchain learned that on May 7, Yunnan Dehongzhou held a special conference on the clean-up and standardization of big data projects across the state. The conference was at a high level and was personally hosted by the governor. The conference confirmed the role of Bitcoin mining in solving the problem of discarding water and electricity, but at the same time, it strictly demanded that 57 big data projects that have already been built and 7 big data projects under construction be demolished without approval from the state people's government, and indicated that there are cases of tax evasion and government funds and surcharges. Mining sources reported that the mining industry in Dehong Prefecture is currently “all over”, and the mine is also seeking sale. Dehong Prefecture ranked fourth from the bottom of all cities (states) in Yunnan in terms of total GDP and growth rate in 2019, and is a relatively poor region. Industry insiders suggest that similar to Sichuan, the problem of discarding water and electricity is prominent in impoverished areas of Yunnan. “It can be done without law”. Currently, many parts of Sichuan have introduced policies to encourage blockchain business development to dispose of water and electricity, and to support economic behavior conducive to economic development, people's livelihood and employment under the epidemic. Yunnan should also take a look. Compared with Sichuan, the crypto mining industry has been developing for a relatively short time. Mining using hydropower mainly started last year, but the scale is not small. According to some miners, Yunnan's electricity load (1 million) is about half that of Sichuan. Wu said that the blockchain investigation learned that the origin of the incident was that illegal transfer of electricity was discovered during a special investigation of big data in Dehong Prefecture from February 27 to March 3, 2020. On April 13, the Yunnan State Grid issued a document requesting the clean-up and regulation of the illegal unauthorized transfer of power supply by grid-connected power plants across the province, and to send copies of the documents to local municipal power supply bureaus. According to the document, according to the 2019 electricity consumption rate inspection of 134 hydropower plants and 11 thermal power plants included in the provincial balance, it was found that most of them were abnormally high. On May 7, Dehong State held a special conference on the clean-up and standardization of big data projects in the state. The conference said that since the vast majority of hydropower stations in Dehong Prefecture are runoff power stations, the power generation gap is huge, and the power generation output is extremely unbalanced, resulting in long-term low electricity prices in the state. The extreme annual abundance period was only 0.1 yuan/degree, and the waste water problem was prominent (960 million kilowatts and 950 million kilowatts, respectively). With the rise of “Bitcoin,” big data “mining” using wasted water and electricity can enable hydropower companies to obtain higher profits, and big data projects have played a certain role in solving Dehong's waste water and electricity problems. However, the conference also said that due to the current administrative management of big data “mining” practices, there are many problems with the development of big data projects across the state. The main ones are chaotic and disorderly, with unclear management. The phenomenon of small, scattered, messy, and uncontrolled electricity is obvious, and there are safety hazards; some projects have failed to complete registration and registration procedures with relevant departments in accordance with the law; affecting local electricity supply and distribution prices, government funds and surcharges. At the same time, the country has now completely stopped open “Bitcoin” transactions. The main revenue and tax revenue of big data projects are zero. Apart from bringing a certain amount of revenue to electricity generation (supply) companies, big data “mining” has basically not contributed to local social and economic development. Standardized management of big data projects has become a prominent issue that needs to be solved urgently by all levels of government and relevant departments throughout the state. According to the conference, the approval process is strictly regulated. Big data construction projects (including renovation and expansion) must be initially investigated by the county and city people's governments and then reported to the state people's government for approval. The county and city people's governments, the Dehong Power Supply Bureau, the Ruili Power Supply Bureau, and any department directly in the state cannot approve or file records. Any big data project that has been approved by the government must go to the power supply department to install it using a telegraph according to law, and the experience is approved before it can use electricity normally. The meeting called for strict clean-up and standardization of project construction and operation. First, the three big data projects that have been approved and approved by the state people's government and completed the power supply department's electricity reporting system are led by the State Development and Reform Commission (State Energy Administration) to strengthen supervision and standardize operation; second, the entire state has not obtained approval from the state people's government to dismantle the 57 big data projects that have already been built and 7 big data projects under construction within a limited period of time; third, there is a demand for big data project construction in areas where power transmission channels are blocked. Power generation companies have submitted applications, and the State Development and Reform Commission (State Energy Administration) takes the lead and verifies them one by one to form a “one enterprise, one plan” according to the approval regulations The procedure is reported to the State People's Government for approval. Big data projects have not been approved and approved by the state people's government, and no power company or power supply department will be allowed to supply electricity; otherwise, the relevant personnel will be seriously investigated for responsibility. Wu said blockchain learned that after the meeting, Dehong State issued a notice requiring that big data projects built privately in violation of regulations must be voluntarily dismantled and “big data equipment” shipped out of the power plant area by May 31. On May 29, a suspected explosion occurred in the Chongsha Cave, a flood drain on the left bank of the Yunnan Dianneng Sinan River Hydropower Station of Mojiang County, Pu'er City. A total of 6 people died and 5 were injured, but...

2273d agody zhang#Yunnan #blockchain #electricity

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