What does the shutdown coin price mean (shutdown 100×100)?

What does the shutdown coin price mean? According to the Huobi Global Market, as of 18:00 today (GMT+8), the shutdown coin price is $0.005.

Based on QKL123’s data, the total network computing power of Bitcoin from June 1, 2019 to July 31, 2019 was approximately 21.9 EH/s, reaching a historical high of mining difficulty of 14.9T. According to the average cost calculation in 2018, the total revenue of a single Bitcoin mining machine by the end of 2020 will be close to 1 billion dollars, the highest since early 2016.

In the “mid to late 2017” and “the first three quarters of 2018”, there were approximately 428,000 transactions on Ethereum. In December 2017, the daily trading volume of Bitcoin was approximately 150,000 transactions. The decrease in mining difficulty caused by Bitcoin halving in the first quarter of 2018 increased miner’s income, resulting in the price difference of the shutdown coin.

Shutdown 100×100

According to BTC.com, the current network difficulty of Bitcoin is 19.31T. It is estimated that about 20,000 mining machines will go offline today.

According to Wu Jihan, the founder of Bitmain, “The computing power of the shutdown 100×100” is calculated based on the number of coins mined. It is approximately equivalent to mining one block every 10 minutes (block reward minus transaction fees). In normal circumstances, if there is no electricity or other factors affecting network security, the “shutdown price” (shutdown coin price) should not exceed 50 RMB, because most people still don’t have access to this money to play various DeFi games.”