2024 is a turning point. All the bombs that are going to explode will appear this month. Whether the United States raises or lowers interest rates, the economic collapse and disintegration cannot be changed. The depreciation of the US dollar is definitely synchronized with USDT. The global economic downturn will not only target one country, but will affect all people and countries living on this planet. The same is true for digital assets. There are too many uncertain factors that will cause problems this month! If you don't think about the future, you will have immediate worries.

First of all, the total global computing power dropped by 140eh last month, accounting for more than 20% of the total. Now all mining machines have low income and high prices. The market price of S21 is about 26,000 yuan. Foreign electricity prices continue to rise. And mixed with various unstable factors. It is uncertain whether domestic electricity can be released. And because most people involved in mining do not understand whether it violates the law or not. So this potential risk needs no further explanation.

Are there any mining farms in China now? The answer is that there are definitely mining farms. Is it illegal? No, is it compliant? No. When Bitcoin mining started in 2017, many people who participated in it were stealing electricity. At that time, many rural areas stole electricity. The most obvious thing around me was the local power company. One line lost 4 solar electricity bills a month. The most direct manifestation was that the lights at home flickered and the air conditioner could not be turned on. Because it affected people's livelihood, the National Development and Reform Commission abandoned mining in 2018. Later, many people around me were sentenced for stealing electricity. Although mining was listed as an obsolete industry in 2018, it did not affect Bitcoin mining. Most miners chose the water resources in Yunnan, Guizhou and Sichuan to mine Bitcoin. In 2019, the National Development and Reform Commission removed Bitcoin mining from the obsolete industry again? Because at that time, miners chose hydropower stations to make state-owned electricity a virtuous cycle, so it was released. So why did it start to be cleared again in 2021? Many people have not studied this issue. Bitcoin has created wealth, but it has affected people's livelihood in 2021? Why? Later, when I was doing research, I found the problem. Yunnan, Guizhou and Sichuan are rich in water resources, but the overall power dispatch is unbalanced. Because in the process of dispatching electricity by the overall dispatching company, it was found that the mining industry developed too fast, and most of the electricity was used to mine Bitcoin. The dispatch of people's livelihood electricity was unbalanced, which affected people's livelihood electricity consumption. The dispatch weight in the power sector is very large, so they have the most say. The Development and Reform Commission will take some measures in conjunction with the opinions on power dispatch. In 2023, I went to the Development and Reform Commissions of various places many times, and they all told me the same thing: Is it illegal to do Bitcoin? It is not illegal, but the use of electricity violates the Electricity Law. I didn't know that there was such a thing as the Electricity Law in China. According to the relevant laws, I learned that I had formal and legal important documents in my hands. According to the interpretation in China's project approval, there are three project establishment criteria in China.
1. Approval system: for projects constructed with government investment;

2. Approval system: for major and restricted fixed asset investment projects that are not invested and constructed by enterprises using government funds;

3. Filing system: projects other than those subject to the approval system and ratification system.

In simple terms, projects that are subject to the approval system and the verification system have reference catalogs drawn up by the superior development and reform department, and projects outside these two reference catalogs are subject to the filing system.

Approval and verification are relatively difficult and project establishment is at the local level.

However, the filing system requires relevant patents and the business license of a formal company.

Most people who participate in Bitcoin mining enter quickly, considering their own interests, and never consider how the industry development will affect them. Therefore, ordinary people will not consider local and national aspects.

Is it okay to use the filing system to operate a normal and formal Bitcoin operation site? The answer is definitely yes, because whether it is the filing of the power department or the license of a formal company, it will promote the healthy development of the industry. The standardization of the market will allow some illegal events to be controlled. The power dispatch will not shut down your mine because it cannot dispatch electricity. This is the most basic.

Now the price of electricity abroad has increased, causing the mining machines to shut down. The price of the new machine S21 is so high that many miners dare not buy it and the equipment cannot be shipped. The industry is facing the limit of development and needs an adjustment. That is the big short. He wants to suppress the price of mining machines and reduce the income of machines. This adjustment is expected to be in June. Everyone pays attention to the risks. The risk this time is no less than 312 in 2020.

At present, domestic electricity prices are cheaper than foreign electricity prices. Many people do not understand this because I have built mines in Laos, Thailand, Nigeria, Kazakhstan and other countries before. The electricity fee in Thailand’s industrial zone is RMB 0.65, and in Laos it is 0.695 cents, plus taxes it is about RMB 0.58. The electricity in Kazakhstan is the cheapest at around 0.3 yuan, but because..., it is difficult for people with shallow roots to settle down there. The electricity fee in Nigeria is 0.35 yuan, but the environment is poor and the electricity is unstable. Domestic regular and legal electricity is cheaper and more stable than foreign electricity.