Why bitcoin mining

1.

bitcoin mining is a process that uses computer hardware to calculate the location of bitcoin and obtain it

mining is an incentive process to record data in the bitcoin system. In the bitcoin system, indivial users have the right to pack blocks after calculating a specific hash value by using CPU or GPU to hash

and in order to reward this user for packing blocks, the system will give a certain amount of bitcoin as reward. Because this process is very similar to "mining" in real life, most people call this process mining. In addition to bitcoin, other electronic virtual currencies can also be obtained through mining rewards, such as Ethereum, Monroe and so on

extended data:

mining risk:

1, currency security

the withdrawal of bitcoin requires hundreds of keys, and most people will record this long string of numbers on the computer, but frequent problems such as hard disk damage will make the key permanently lost, which also leads to the loss of bitcoin

2, system risk

system risk is very common in bitcoin, and the most common one is bifurcation. Bifurcation will lead to a drop in currency price and a sharp drop in mining income. However, many cases show that the forking will benefit the miners, and the forked competitive currency also needs the miners' computing power to complete the minting and trading process. In order to win more miners, the competitive currency will provide more block rewards and handling charges to attract miners. Risk makes miners

2. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. 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 a strong scarcity

warm tips:
1. The above information is for reference only, without any suggestions
2. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
response time: February 2, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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3. Mining is a process to increase the supply of bitcoin money, while protecting the security of the bitcoin system and preventing fraulent transactions. Miners provide computing power for the bitcoin network in exchange for the opportunity to obtain bitcoin rewards
bitcoin system is composed of users (users control the wallet through the key), transactions (transactions will be broadcast to the whole bitcoin network) and miners (a blockchain is generated by competitive computing to reach a consensus at each node, and the blockchain is a distributed public authoritative account book, including all transactions in the bitcoin network)
mining is a process of increasing bitcoin money supply. Mining also protects the security of the bitcoin system, prevents fraulent transactions, and avoids "double payment", which means spending the same bitcoin multiple times. Miners offer algorithms for bitcoin networks in exchange for the opportunity to get bitcoin rewards. The miners verify each new transaction and record it in the general ledger. Every 10 minutes, a new block will be "mined", and each block contains all the transactions from the generation of the previous block to the present, which are added to the blockchain in turn. We call the transactions included in the block and added to the blockchain "confirmed" transactions. After the transaction is "confirmed", the new owner can spend the bitcoin he gets in the transaction
there are two types of rewards for miners in the process of Mining: the new currency reward for creating a new block, and the transaction fee for the transaction contained in the block. In order to get these rewards, miners compete to complete a mathematical problem based on encrypted hash algorithm, that is, to use bitcoin mining machine to calculate the hash algorithm. This requires strong computing power, how much the calculation process is, and whether the calculation results are good or bad. As the proof of miners' calculation workload, it is called "workload proof". The competition mechanism of the algorithm and the mechanism that the winner has the right to record transactions on the blockchain ensure the security of bitcoin
miners also get transaction fees. Each transaction may contain a transaction fee, which is the difference between the input and output of each transaction. A miner who successfully "digs" a new block in the process of mining can get all the transaction "tips" contained in the block. With the decrease of mining reward and the increase of the number of transactions in each block, the proportion of transaction fee in miners' income will graally increase. After 2140, all miners' earnings will be made up of transaction fees
mining is a process of decentralizing settlement, in which each settlement verifies and settles the processed transaction. Mining protects the security of bitcoin system, and achieves the consensus of the whole bitcoin network without a central organization. The invention of mining makes bitcoin very special. This decentralized security mechanism is the basis of point-to-point e-money. The reward and transaction fee for casting new coins are a kind of incentive mechanism, which can regulate miners' behavior and network security, and at the same time complete the currency issuance of bitcoin.

4.

Bitcoin is an electronic currency proced by open source P2P software. Digital currency is a kind of network virtual currency. Bitcoin is also paraphrased as "bitcoin.". Short for: BTC

bitcoin does not rely on a specific monetary institution. It is generated through a large number of calculations of a specific algorithm. 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
bitcoin is very similar to cash
the advantages of bitcoin are: no freezing, no tracking, no taxes, and extremely low transaction costs. Compared with people who speculate in currency, it is wealth, and people outside the currency circle may think it is a fraud
bitcoin is a relatively mainstream digital currency, which can be properly invested. There are risks in the transaction. You can invest cautiously. You can search the fire coin, coin security, OK, dobby trading platforms on the Internet, which can trade bitcoin. These are relatively large trading platforms. Invest in mainstream digital currency, do not invest in counterfeit currency or air currency< br />

5. Mine distribution
scene name monster grade mineral name / grade mineral name / grade mining skill grade
Wuliang 1-10 copper mine / 1 -- 0
Jiange 1-10 copper mine / 1 -- 0
Dunhuang 9-16 copper mine / 1 -- 0
Jinghu 9-16 copper mine / 1 -- 0
Songshan 15-21 copper mine / 1 -- 1
Taihu 15-21 copper mine / 1 -- 1
Xihu 20-26 copper mine / 1 iron mine / 21
Erhai Lake 25-31 iron ore / 2 silver ore / 3 2
Yannan 30-36 silver ore / 3 cold iron ore / 4 3
Longquan 35-41 cold iron ore / 4 gold ore / 5 4
Cangshan 40-46 gold ore / 5 basaltic iron ore / 6 5
Yanbei 45-51 basaltic iron ore / 6 crystal ore / 7 6
Wuyi 50-56 crystal ore / 7 jadeite ore / 8 7
Shilin 55-61 jadeite ore / 8 Zhenwu ore / 9
Caozhou 60-66 Zhenwu ore / 9 Longxue ore / 10 9
Meiling 65- 71 Longxue mine / 10 10

herb distribution
scene name monster level herb name / level herb name / level herb name / level herb picking skill level
Wuliang 1-10 white Ying / 1 Pollen Typhae / 1 0
Jiange 1-10 white Ying / 1 Pollen Typhae / 1 0
Dunhuang 9-16 white Ying / 1 Pollen Typhae / 1 0
Jinghu 9-16 white Ying / 1 Pollen Typhae / 1 0
Songshan 15-21 white Ying / 1 Puhuang / 11
Taihu 15-21 Baiying / 1 Puhuang / 11
Xihu 20-26 Chuanbei / 2 Yuanhu / 22
Erhai 25-31 loquat / 3 licorice / 3 honeysuckle / 3 3
Yannan 30-36 Scutellaria / 4 wolfberry / 4 Chenxiang / 4
Longquan 35-41 Eucommia ulmoides / 5 Atractylodes lancea / 5 Fuling / 5
Cangshan 40-46 Fangfeng / 6 Elsholtzia / 6 Huanglian / 6
Yanbei 45-51 Danggui / 7 Guixin / 7 Xiangfu / 7 Wuyi 50-56 Huoxiang / 8 huishencao / 8 Shouwu / 8 8
Shilin 55-61 Cordyceps sinensis / 9 Solanum nigrum seed / 9 9
grassland 60-66 Xiangbei / 10 ginseng / 10 10
Meiling 65-71 Ganoderma lucim / 11 xunccao / 11
Yuxi 70-76 Lianzi / 12 kumuchun / 12
Liaoxi 75-81 Lianzi / 12 kumuchun / 12
Nanhai 80-85 Lianzi / 12 kumuchun / 12
Nanzhao 84-89 Lianzi / 12 drywood spring / 12
Chang 88-93 Lianzi / 12 drywood spring / 12
Qiongzhou 92-97 Lianzi / 12 drywood spring / 12
miaojiang 96-101 Lianzi / 12 drywood spring / 12
Huanglong 100-105 Lianzi / 12 drywood spring / 12

6. Mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network. This process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary

mining is a proof mechanism.

7. Bitcoin < sup > [1] < / sup > (bitcoin) is a kind of P2P digital currency. Point to point transmission means a decentralized payment system. Bitcoin is not issued by specific currency institutions, 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 transactions. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. 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< Sup > [1] < / sup > bitcoin is a kind of network virtual currency, with a limited number, similar to Tencent's Q currency, but can be used for cash: it can be converted into the currency of most countries. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system has no more than 10.5 million in the first four years, and the total number after that will be permanently limited to 21 million. Another point is that you can use computers to make bitcoin

8. Bitcoin is a kind of virtual currency. The process of mining by mathematical calculation is the process of continuous calculation. Due to the complexity of the algorithm, it needs to try many times and consume a lot of computer resources. The faster the computer is, the more results can be obtained. Usually, it uses high-speed computers, which also consumes a lot of power. Mining expenses are the investment of a large number of advanced computers and the purchase of special computing software And high electricity bills