Community Observation: 2019.09.17

Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.

BTC Price Will Be Going Up

By 空客730

I believe that the price of BTC will be going up recently, based on three points:

1. The pressure of global currency overshooting has reached a critical point. The time of negative interest rates has come, and various signals are getting on people’s nerves. In China, examples are exchange rates, CPI, and RRR cuts. This is like a balloon that keeps expanding and might just explode all of a sudden.
2. There only two main ways for big capitals to access Bitcoin: minnig and OTC markets. The overall computing power of Bitcoin mining has reached a historic high of over 90. The recent surge in computing power is an important signal that more capitals are entering the market, and the mining cost is getting higher and higher.
3. Bitcoin halving is coming in May. Bitcoin chart has been flat for a while, and there’s not much time left to wait and see. In theory, the supply and balance line of the market is the monthly electricity bill. Miners must sell these coins to maintain the balance of the entire system. This supply is getting smaller and smaller. It’s getting more and more difficult to profit from Bitcoin, but not too late to buy in cheap SIPC!t

HODL BTC & SIPC!

About SimpleChain

SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to support a variety of applications and use cases on blockchain. Sub-chains also support sharding to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.

Built on Baoquan Chain, SimpleChain’s first sub-chain, Baoquan.com provides electronic data services including electronic evidence service, online evidence gathering service, and copyright protection platform. Based on the non-traceable and non-tamperable features of the blockchain, the advantages of Baoquan.com is that user data can be permanently stored on the blockchain, independent of corporations.

In June 2018, Hangzhou Internet Court of China judged a case of a dispute over information network communication rights. For the first time, the court confirmed the legal effect of the electronic data stored on Baoquan blockchain, and clarified review methods of electronic evidence on blockchain.

We have launched the mainnet beta version in January (see blockchain browser), and we will be launching mainnet official version 1.0 in Q3 this year. Also, our codes are open-sourced on Github.

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