Wankeyun's domestic bitcoin, the "mining machine" market bubble is serious, and the prospects are bleak

One Cloud is Xunlei's new generation of intelligent hardware. Through One Cloud, users can search for massive resources on the entire Internet and enjoy lifetime free ultra-fast download privileges, with download speeds reaching 4MB/s.

From the official sale on August 30, 2017, in just 10 days, the total crowdfunding amount has reached 10.88 million yuan, completing the crowdfunding goal 100 times, a perfect ending. The official said that OneCloud Wanke Cloud will be distributed from September 26. At the same time, the Wanke Cloud Reward Plan was launched, providing 500 yuan in cash or Wanke coins. From November 1, 2017, the 500 yuan cash reward will be cancelled, and only the Wanke coin reward will be retained.

The initial cash reward attracted the attention of many scalpers, who began to increase the price to purchase Wanke Cloud devices.

As OneCloud was highly favored by the capital market, Xunlei's stock price soared several times. Behind this, the capital market finally paid attention not to the business model of OneCloud CDN, but to Xunlei's reward program product, OneCloud Coin.

This virtual currency, which is regarded as the domestic version of Bitcoin, is still listed on overseas platforms after Thunder officially stopped the trading platform. It can also be exchanged for other virtual currencies such as Bitcoin, and its market value has soared.

The market value of Wanke Coin has skyrocketed. Users who participated in the crowdfunding in the early stage have tasted the sweetness and started to purchase Wanke Cloud equipment in large quantities on the market to set up mining factories. Then scalpers began to drive up the price of equipment. People continued to purchase large quantities of goods and tried to enter the market to produce coins. The recycling price of a device with an original price of 399 was driven up to 2800 or 2900, and the shipping price was close to 3500. In this environment of scalpers, the market bubble is getting higher and higher. Large investors are selling goods and leaving the market, while retail investors are hoarding goods for bullishness. As a result, no matter how the official releases the goods, the market still presents the illusion that it is difficult to get a machine, which invisibly drives the price to a new height.

In the absence of policy support, this "domestic Bitcoin" is unlikely to go far in the future, and the Wanke Cloud device, which has been inflated to sky-high prices, may soon lose its popularity. I hope everyone will consume rationally. Perhaps this Wanke Cloud device, known as the "domestic Bitcoin mining machine", will eventually become a simple NAS private cloud disk!