Bitcoin rainstorm in Sichuan
It's about 37 yuan
let me first introce the reward mechanism of bitcoin system
bitcoin can basically dig out a block every 10 minutes through system settings. The reward for each block is given to the miners who dig out the block. The miner who digs out the block is called the block miner. The block miner will record the legal transactions in the bitcoin network to the blockchain, so that the miner can receive the service charge for bookkeeping
there are two parts in the reward for the block Miner: one part is the reward given by the system, which is called coinbase reward (also known as system issuance reward), the other part is the reward for bookkeeping, which is called miner's fee. The coinbase reward started with 50 bitcoins. For every integral multiple of 210000 blocks, the coinbase reward will be halved. This is what we often hear about bitcoin mining reward halved in four years
at the present stage, the reward of coinbase is 12.5 bitcoins. At the present stage, the average transaction miner fee received by miners for digging out a block is about 0.1 bitcoin (not fixed), that is to say, the average reward received by miners for digging out a block is about 12.6 bitcoin
about 99% of miners' rewards come from the system's coinbase rewards. According to the bitcoin system, one block can be g out every 10 minutes on average. The number of new blocks that can be g out in one day is 144 (60 * 24 / 10 = 144). At present, the number of bitcoins that can be g out every day is 1800btc (144 * 12.5btc = 1800btc). With the miner's fee of about 0.1btc per block, the total reward for all miners in one day is about 1814.4btc
You can't dig in a day. It takes 2000 years
the global unified computing difficulty of bitcoin is 2621404453 (expected to change in two days). It takes more than 2000 years for a 2.5GHz CPU to work out a bitcoin
in order to make the graphics card fully loaded for a long time, the power consumption will be quite high, and the electricity bill will be higher and higher. Many professional mines at home and abroad are operated in areas with extremely low electricity charges, such as hydropower stations, while more users can only mine at home or in ordinary mines, so the electricity charges are not cheap. Even in a certain residential area in Yunnan, there was a case of crazy mining, which led to a large area trip of the residential area, and the transformer was burned
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bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system
bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network can get a qualified answer about every 10 minutes. Then bitcoin network will generate a certain amount of bitcoin as block reward to reward the person who gets the answer
when bitcoin was born in 2009, block rewards were 50 bitcoins. Ten minutes after its birth, the first 50 bitcoins were generated, and the total amount of money at this time is 50. Then bitcoin grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward will be halved to 25
when the total amount reaches 15.75 million (5.25 million new output, i.e. 50% of 1050), the block reward will be further halved to 12.5. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to about 21 million
As of July 24, 2020, the state has not issued any laws to prove that bitcoin mining machine is illegal
bitcoin mining machine is one of the ways to obtain bitcoin. Bitcoin is a kind of network virtual currency proced by open source P2P software
it doesn't rely on the issuance of specific monetary institutions, and it is generated through a large number of calculations of specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction
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the issue and transaction of bitcoin are realized by mining, and it is cast at a certain but slowing rate. Each new block is accompanied by a certain number of new bitcoin from scratch, which is used as a coinbase transaction to reward the miners who find the block
the reward for each block is not fixed. For every 210000 blocks mined, it takes about four years, and the currency issuance rate is reced by 50%. In the first four years of bitcoin's operation, each block created 50 new bitcoins. Each block creates 12.5 new bitcoins. In addition to the block award, the miner will receive a handling fee for all transactions within the block<
source: Internet - bitcoin mining machine
25000 mining troops in Sichuan: a flood cost hundreds of millions, most afraid of power failure and loneliness
these computing power are scattered along the Da River, a tributary of the Minjiang River. They inlge in the night of Dalate Banner in Ordos, and sleep soundly in a small city in Yili Kazakh Autonomous Prefecture of Xinjiang
today, bitcoin's total network computing power has reached about 30 billion hash collisions per second, equivalent to about 600 tianhe-2 supercomputers, and it is still growing at a high speed. " Wu Jihan, the founder of bitcontinent, wrote in the beauty of computing power
he preached a set of infinitely beautiful "computational aesthetics", but behind the aesthetics is the cruel computational world and interests. Mining is moving towards instrialization step by step and becoming a game of capital
at this time, decentralized mining machines and pools began to appear. They called themselves revolutionaries and wanted to change the extremely monopolized bitcoin world
"cloud computing power mining" is one of them
their way of playing is to establish a number of distributed mines and provide computing power leasing services with tens of thousands of real mining machines
"the current computing power is too concentrated, and some decentralized play methods are difficult to change the current pattern and ecology." Li Ke said
but the essence of blockchain is decentralization. The miners still have the belief that eventually the mining instry will be broken by the decentralized mining pool
this may be the only belief that keeps them going
how long will it take
"5-10 years, slowly nibbling at the giant's territory." Li Ke said
but will giants wait for the revolution? Will they fight back
the battle of computing power and the spark of revolution have just been ignited
source; Sina Technology
Bitcoin has not been officially recognized by the state, has not been incorporated into the legal system, and lacks corresponding supervision. Its high anonymity determines the high risk of the market. To this end, Zhao Xijun reminded that bitcoin trading has a high risk, "bitcoin trading is open all day, with few chips, and the price is easily controlled by the makers. Investors should not blindly follow the trend of speculation, and once they suffer losses, there is no way to complain."
bitcoin, as the original scheme of technology, plays a similar role as gold standard currency in the whole system. A large number of applications may not necessarily use it as the transaction medium, but the value of bitcoin will directly affect the value of the whole application field of blockchain technology
Extreme weather now has a new group of victims - digital money diggers. Last week's heavy rain in Sichuan and the heat wave in Europe have affected the global bitcoin computing power. At the same time, extreme weather also gives us a glimpse of the impact on (the world) if China successfully expels the bitcoin mining instry
like other governments, Beijing is also worried about the huge energy consumption of virtual currency exploitation. According to authoritative statistics, the global electricity consumption for bitcoin mining can meet the domestic electricity consumption of 6.5 million American households. Although some analysts doubt the impact of China's bitcoin mining on the global virtual currency computing power, there is no dispute that China's miners still dominate the field of digital currency mining