Is "Hashpower Coin" worth investing in?

Recently, as the price of Bitcoin has been rising, the mining industry at the bottom has attracted people's attention because it can obtain Bitcoin at a lower cost price and release it on time (scheduled investment lock-up).

Some computing power tokenization products are starting to appear in due course.

On January 7, Binance announced the launch of Bitcoin Standard Computing Power (BTCST), a cooperative project between KE WO YING Mining and Hashrate 360, which supports users to pledge BNB, BUSD, and BTC to the BTCST mining pool to obtain BTCST. The mining cycle is 30 days. The Binance main site will also launch the BTCST trading pair tomorrow, with 100P computing power in the first phase. As of press time,The BTCST mining pool has deposited 10.43 million BNB, 18,600 Bitcoin, and 186 million BUSD, with a total pledge amount of more than 1.255 billion US dollars.

As of this afternoon, another Poolin (biyin) mining pool released a combination of "computing power and liquidity mining gameplay"One-stop decentralized standard computing power protocol Mars, causing heated discussions in the industry.

Currency printingIt is the world's leading bitcoin mining pool established in 2017, according toBTC.comAccording to the data, Biyin has accounted for 14.6% of the total Bitcoin network computing power in the past year, ranking second only to Yuchi (17.5%).

The protocol launched this time currently includes two tokens:

• Hashrate Token pBTC35A

According to the introduction on the official website, pBTC35A is the computing power token that anchors the 35W/T mining machine. Holding 1 share of pBTC35A is equivalent to the income of holding 1T computing power. The way to obtain it is: mortgage the computing power Token in the corresponding liquidity pool. Issued in the form of wBTC (wBTC is a Bitcoin-anchored currency issued on the Ethereum network).

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According to real-time information on the official website,The current total amount of pBTC35A is 50,000 (that is, the pre-sale computing power is 50,000 T). As of 17:20, 6,071 pBTC35A have been sold at a price of 100 USDT/piece. Users can purchase through Mars contracts or Uniswap.

• Governance token MARS
  

MARS is the governance token launched by the protocol, with a total supply of 2.1 billion. There are two ways to obtain:

1. According to the official website, the Mars protocol has currently started liquidity mining. Users can obtain wBTC and MARS by staking pBTC35A, pBTC35A-USDT LP and MARS-USDT LP.

2. Provide liquidity for pBTC35A/USDT, MARS/USDT trading pairs on Uniswap, and also get wBTC and MARS.

MARS will be unlocked at a constant speed within four years (January 1, 2021 to December 31, 2024), of which 75% of the tokens will be allocated to users, and 20% will be allocated to the Mars team to maintain the project and continue to issue pBTC35A tokens coins, 5% will be allocated to the Mars Foundation. Holding MARS will have the right to vote on platform governance.

After talking about the basic information, let me talk about a few points that investors pay attention to:

1. The authenticity of computing power and the earning period

It is understood that Biyin (Singapore) purchased mining machines with a computing power of nearly 50P for this project and placed them in Sichuan for mining. Force 19.98 EH/s). Subsequent operation and maintenance and long-term supply are all endorsed by the brand of Biyin.

Regarding the distribution of computing power income, it is distributed in the form of wBTC. The official said that it is real-time, and the withdrawable balance is refreshed once every Ethereum block. The (cloud computing power) industry practice is to issue daily.

As we all know, mining machines are constantly updated, soHow long can this 35W/T mining machine mine?? From the above, you can also see that the power consumption ratio of 35W/T is the mainstream model, which is very competitive among all mining machines, and has the strongest ability to resist the risk of currency price decline and difficulty increase. The mining machine can earn about 2 to 3 years, and then it will withdraw from the market due to the surge in the computing power of the entire network (otherwise the mined revenue will not be enough to pay the electricity bill).

Then in these 2~3 years, from the perspective of the currency standard, the probability of income will gradually decrease with the increase of the computing power of the entire network, so the value of this token may have a similar "machine loss", "currency depreciation (long-term trend)".

The official website also marked the indicator of mining machine (token) loss rate in real time, and you can refer to it when purchasing.

2. What is the difference between this and cloud computing power?

First of all, the liquidity must be better;

Secondly, it is more fun. Traditional mining and income mining are finally integrated. The governance token issued is believed to attract some fans of Biyin or friends who like to speculate in coins.

Third, the cloud computing power corresponding to the pBTC35A token is more similar to the cloud computing power platform that sells physical mining machines or permanent computing power.

Many cloud computing power platforms (representatives such as BitDeer and Suanyitou) mostly lease computing power for a certain contract period (such as 1-year mining income rights), and as long as pBTC35A token users hold it all the time, theoretically they can It can obtain permanent income (until this mining machine exits the market), and the platforms that sell computing power in this way also include Hashrate 360, Geek Mining, etc. You can compare them horizontally.

3. How do you know which one is more cost-effective to buy?

Here I recommend a BTC.com high-end mining calculator, where you can enter the number of T you have, the price per T, the performance of the mining machine (power consumption ratio), electricity, currency price, date to Calculate your own revenue, profit, ROI, and more.

The figure below shows the income of holding 1 pBTC35A for two years, when the electricity fee is 0.38 yuan/kWh and the currency price is maintained at 36,000 US dollars. If you want to buy other cloud computing power, or want to compare the benefits of buying mining machines and looking for mine hosting, you can also put it into this model for calculation.

Of course, the data calculated by this calculator is only for reference. After all, we cannot accurately know how much the computing power of the entire network will rise in two years.