What is bitcoin mining actually
bitcoin mining machine is a kind of computer used to earn bitcoin. This kind of computer generally has professional mining chips and works in the way of burning graphics card, which consumes a lot of power. It is one of the ways to get bitcoin that users download software from personal computer and then run specific algorithm to get corresponding bitcoin after communicating with remote server
mining is actually a competition of performance and equipment, and a competition of computing power among miners. Miners with more computing power are more likely to dig bitcoin. With the increase of computing power in the whole network, it is more and more difficult to dig bits with traditional devices (CPU, GPU). People have developed chips specially used for mining. Chip is the core part of mining machine. The process of chip operation will proce a lot of heat, in order to cool down, bitcoin miner is generally equipped with heat sink and fan
bitcoin is a kind of virtual currency. Bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware. Miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by miners, so the competition for mining is very fierce
bitcoin mining started with low-cost hardware such as CPU or GPU, but with the popularity of bitcoin, the mining process has changed greatly. Nowadays, the mining activities are transferred to the field programmable gate array, and the hash speed can be achieved through optimization. The mining efficiency of this mode is very high
Mining bitcoin is also called mining. Starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the infinite (in fact, bitcoin is finite) solutions that can be obtained from the equations. Every particular solution can solve the equation and is unique
in the metaphor of RMB, bitcoin is the serial number of RMB. If you know the serial number of a note, you have the note. The process of mining is to constantly seek the special solution of this equation system through a huge amount of calculation. This equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
bitcoin: also known as "bitcoin", is a kind of network virtual currency. Internet users can use bitcoin to buy some virtual goods, such as clothes, hats, equipment, etc. in online games. Internet users can also use bitcoin to buy real goods
extended data:
shortcomings
first, the vulnerability of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities
Second, the transaction confirmation time is long. When bitcoin wallet is first installed, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed Thirdly, the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading Fourthly, the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless-
bitcoin is a string of code generated by an open-source P2P software, which we call cryptocurrency, e-currency and so on. Bitcoin is proced by mining. Generally speaking, bitcoin mining is to use your hardware to calculate the mathematical problems of sh265 algorithm, confirm network transactions, and ensure the security of the whole network system. As a reward, bitcoin system will give a certain amount of bitcoin reward according to the amount of computing power contributed by miners
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mining is bitcoin. Bitcoin will be generated several times every other period of time, and whoever grabs it will own it. The computer connected to the bitcoin system is the tool "miner" for grabbing bitcoin. As for the issue of national recognition of bitcoin, simply speaking, it depends on the possible impact on the country< br />
Bitcoin mining is a process of using computer hardware to do mathematical calculation for bitcoin network to confirm transactions and improve security
" Bitcoin Mining & quot; The concept of "gold mining" comes from the existing concepts in real economic life, such as gold mining and silver mining. Because minerals are valuable, it drives people to pay labor to dig
significance: compared with the special currency network, bitcoin mining is not only the basic guarantee for issuing coins, but also for maintaining the operation of bitcoin system; Behind every bitcoin mining activity is to create a new-type & quot; Note printing machine & quot
Bitcoin does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transaction lines, and uses cryptography design to ensure the security of all aspects of currency circulationthe decentralized feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has scarcity