Using dice to generate bitcoin private key
at present, the computing power of bitcoin in the whole network has reached 2.36 billion hash collisions per second, which is equivalent to the number of water droplets in more than 200000 50 meter long standard swimming pools. But even with such a large amount of computing power, it will take about 10 minutes to hit a hash value that meets the requirements
in 2012, bitcoin's output was halved for the first time, and in July 2016, bitcoin's output was halved for the second time. At present, 12.5 bitcoins are awarded for recording one page of account book. The next halving will take place around 2020, and the total number of bitcoins will not increase by 2040, with a total of 21 million. In other words, the difficulty of digging bitcoin is increasing, while the time required is increasing
Bitcoin is a kind of network virtual currency. 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. Assuming that the mining computing power is 100 mhash / s and the total computing power is 4000 ghash / s per day, 3600 bitcoins can be g out every 24 hours
China's computing power has accounted for more than 75% of the world, that is to say, 75% of bitcoin in the world is made in China. How long does it take to dig a bitcoin
bitcoin used to be very good at "digging", which can be done by ordinary computer CPU, and it can automatically "solve problems" by downloading software. But with the rise of currency price, more and more people want to "solve the problem", and the difficulty of mining is also increasing. Now, the amount of computation needed to dig a bitcoin is beyond the reach of ordinary people. Ordinary computers can't afford it
instry insiders said that in 2014, 100 bitcoins were generated from 500000 yuan of electricity charge per day, and the cost of electricity charge alone was 5000 yuan per coin. But now, the same cost has more than doubled, and the electricity cost of each bitcoin is as high as 10000 yuan
in the generation mechanism of bitcoin, mining reward is decreasing. At the beginning of the birth of bitcoin, the miners could get 50 bitcoins for each page of the ledger, and then 25 bitcoins for each page of the ledger, decreasing in turn. It's like digging gold. At first, it's more and less. The time point at which each new reward is reced by half is called half bitcoin proction
assuming that the mining computing power is 100 mhash / s, the total computing power is 4000 ghash / s per day in 2014, and 3600 bitcoins are g out every 24 hours
now, we can understand the difficulty of bitcoin digging in this way, which is equivalent to 100 million dice throwing numbers less than 100 million and 50 million. Whoever throws them first will get the bookkeeping right. At this point, 1050 million is a hash value. The process of throwing dice is called hash collision. The unit of mining power is the number of hash collisions per second
at present, the computing power of bitcoin in the whole network has reached 2.36 billion hash collisions per second, which is equivalent to the number of water droplets in more than 200000 50 meter long standard swimming pools. But even with such a large amount of computing power, it will take about 10 minutes to hit a hash value that meets the requirements
in 2012, bitcoin's output was halved for the first time, and in July 2016, bitcoin's output was halved for the second time. At present, 12.5 bitcoins are awarded for recording one page of account book. The next halving will take place around 2020, and the total number of bitcoins will not increase by 2040, with a total of 21 million
Related videos: how long does it take to dig a bitcoin
warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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1. Mining can not only proce bitcoin, but also guarantee transaction information
similarly, a mathematical system contains 21 million mathematical problems, so we need to constantly seek the special solution of each mathematical problem through a huge amount of calculation. In addition, the special solution is unique
mining can not only increase the supply of bitcoin money, but also protect the security of bitcoin transactions and prevent fraulent transactions. In terms of process, bitcoin network is a point-to-point payment system, and anyone can trade through the transaction program
in order to ensure that the transaction process is truthfully recorded, the role of "miner" is required to be responsible for recording bitcoin transaction information. The time interval is 10 minutes. The best recorded transaction records among miners will be packaged and stored in a new block, and the corresponding miners will also receive a certain amount of bitcoin rewards
2. The mining process is extremely complex, which is beyond human power
the specific process is as follows. When a miner listens to the transaction, he will first verify the transaction information. The verified transactions will be recorded by miners and stored in their own database. There may be thousands of miners in the world doing the same thing, but every ten minutes, only one miner has the right to create a new block, so that the transaction information recorded by himself can be recognized and stored permanently
next, miners need to fight for the right to keep accounts. This is a competition of computing power. The core of this competition is to use computers to complete a large number of calculation tasks and find a super difficult random number. This random number is the special solution of the equation mentioned in the first paragraph. The miner who calculates the correct random number first wins. According to the rules of the game, the probability of a miner getting the accounting right is directly proportional to the proportion of his computing power in the total computing power of the whole network. In other words, the probability of finding the random number is equivalent to throwing out 100 million dice, and the total number of dice is less than 150 million. Therefore, mining requires a large number of computers, installation of specific algorithm software, repeated operation day and night, not human
3. Bitcoin mining is actually "villagers' bookkeeping"
maybe some netizens still don't understand, let's take an example. In a village, the villagers often borrow money from each other, even if they write a written document, there is a risk of default. Then, every time there is a loan behavior in the village, we will use the village trumpet to inform everyone that all the villagers (miners) will record all the transaction records in their own account books.
Just now, as of 23:00 on March 3, bitcoin is now 71976 RMB. At the beginning, when I knew it was very expensive, I also asked this question, how to dig this thing
many mining machines with large amount of calculation will proce a lot of heat in the operation, so they need to consume a lot of electricity for cooling
of course, mining can also be carried out on a small scale with a few mining machines. At this time, you can join the mine to dig with everyone. No matter who digs in the mine, everyone will distribute according to the speed of throwing dice, which can ensure a more stable income
at present, there are many people digging bitcoin, so they have high requirements for the computing power of mining machines. At present, it costs thousands of dollars to dig a bitcoin. Therefore, we should not blindly evaluate the income risk before making a decision
I'm brother Xiaoyu. If you have any questions, please pay attention to me and leave a message below for us to discuss
bitcoin is tamper proof
last weekend, when CNBC's Deirdre Bosa was interviewed at the "money 20 / 20" event in Las Vegas, apple co-founder Steve Wozniak said he thought bitcoin was a better value standard than gold and the US dollar. He explained that the difference between the two is that the supply of bitcoin is limited, because it is estimated that only 21 million bitcoins can be mined. Unlike the dollar or any other legal tender, bitcoin is unlikely to be affected by the whims of influential bankers. On the other hand, no one knows how much gold there is in the world that can be mined at any time. In this sense, Wozniak said, gold is "a bit fake," while bitcoin is more "real and real."
before that, the price of bitcoin soared for several consecutive months, breaking the $6000 mark for the first time a few days ago. At present, the price of bitcoin has stabilized at about $5500, but we can expect that bitcoin will continue to show its real potential. That's why experts like Wozniak predict that this cryptocurrency may eventually replace gold as the standard of financial value - a view he thinks is quite attractive
The number of bitcoins is limited. Gold mining, mining and mining. Maybe the amount of gold in the world is limited, but the mathematics and regulation of cryptocurrency are stricter, and no one can change the mathematics. " Wozniak explained. In short, bitcoin, as a standard, is difficult to change global pricesmore stable than gold
but is cryptocurrency number one really more stable? Yes, and No. Critics will say that it is prone to value volatility, making it quite unstable. However, as Tom Lee, co-founder of fundstrat global consultants, told business insider earlier, this volatility is predictable, and it is not unique to this cryptocurrency“ When people talk about the fluctuation of bitcoin today, they forget that when we leave the US dollar, the gold standard of the US dollar, the fluctuation of gold price in the past four years is similar to that of bitcoin today. "
crucially, Wozniak commented that bitcoin is easier to regulate than gold. He then compared the stability of bitcoin to owning a house“ Your house is valuable. " If it's a house now, 40 years from now, even if the price rises, the government will charge more taxes from it, and it's still a valuable house, "said the former Apple senior engineer, whose interest in cryptocurrency started just for fun
given all the volatility, the government and regulators continue to "test" the growing cryptocurrency market. Some have taken tougher measures to ban the cryptocurrency altogether. However, bitcoin still exists, and experts predict that the value of bitcoin will rise sharply in the next few months
Infinite coin is a new digital currency, which has more circulation advantages than bitcoin, and fills the short board of bitcoin in the field of commercial circulation and promoting commercial operation
Krugman, the Nobel Laureate in economics, pointed out that bitcoin is a retrogression in history. Although he affirmed the scientific and technological progress of bitcoin as a digital currency, he also pointed out that money can not only be g out and hoarded, but the essence of money is a means to promote commercial circulation. If infinite currency is successful, it will make an important contribution to the global recognition of digital currency model
the total amount is about 90.6 billion; Confirm every 3 seconds; Basically, all of them have been excavated, about 90.58 billion yuan; There was no poaching
one transaction of unlimited currency needs three confirmations, and each confirmation takes three seconds, so the transaction confirmation speed is very fast. Because bitcoin transaction confirmation takes 1 hour and lightcoin transaction confirmation takes 15 minutes, infinite coin is used in daily common transactions, which is more practical
infinite coin was released on June 5, 2013. Based on scrypt POW algorithm. A block is generated in 30 seconds. In the initial block, there are 524288 infinite coins in each block. After that, for every 86400 blocks generated, the number of infinite coins in the block is halved, with a total of about 90.6 billion infinite coins. The difficulty of mining is adjusted every hour
at the beginning of its release, infinite coin, like many other digital coins, was extremely cheap, and only a small number of players were playing
with the dramatic rise and fall of bitcoin in the second half of 2013, other cryptocurrencies are graally recognized by everyone, and the number of "Shanzhai currency" is expanding, which has a impact on the price of bitcoin
the value of infinite currency has also increased since October 2013. The most ferocious increase occurred from November 23 to November 27, 2013. The price of single currency soared from the lowest 0.000008 yuan to the highest 0.0014 yuan, with an increase of 17500% in five days, setting the highest weekly increase record among all digital currencies. With the successive withdrawal of speculators, the value of infinite currency fluctuated repeatedly and graally fell
subsequently, as cryptosy, coinex, coins-e, easecoin, niubtc and other platforms graally incorporated unlimited currency into the trading platform, the value of unlimited currency rose steadily. Due to its obvious circulation advantages and characteristics, unlimited coin has graally spread to more and more holders. At the same time, there are many enthusiasts dedicated to promoting unlimited coin in the online unlimited coin post bar
there are infinite dice, coinjack, coinbomb, black jack, Lotto coin world, encryption game key, Sarasota slot, visa4crypto, coincable, bitezze and other services that use infinite coin for payment in the world
the original mineral reserves of infinite coin will be halved every month. The original mineral reserves will proce nearly the total amount of coins on September 5, 2014, and then infinite coin will enter the full circulation stage
in the field of cryptocurrency, there is a popular saying: "bitcoin is gold, litecoin is silver, infinitecoin is copper", which means "bitcoin, lightsilver, infinitecoin is copper"
this shows not only the popularity of unlimited money, but also the positioning of unlimited money as a micro payment activity serving the daily life of the general public
tips: investment is risky and you should be cautious when entering the market. You should not blindly chase up and down in investment. You should have enough understanding of the currency itself. At the same time, if you have a loss, you should timely set the amount of stop loss you can bear to avoid greater losses
simply speaking, bitcoin mining is to use your bitcoin mining hardware to calculate mathematical problems, confirm network transactions, and ensure the security of the entire bitcoin network system. In return, you can get a certain amount of bitcoin reward
the bitcoin you mine is a kind of property. You can exchange it into RMB through bitcoin trading platform, commonly known as cash out
at present, bitcoin mining needs professional ASIC miner, such as Avalon miner, which has been leading the instry. If you are Xiao, I suggest you buy Avalon 3 single mode miner. Of course, you can also buy Avalon mining machines with higher computing power
there are risks in mining, so you need to be careful in purchasing machine!
It all starts with mining
the concept of bitcoin was put forward in 2009 by the network geek, whose alias is "Nakamoto Tsung". It is a decentralized digital currency that does not rely on the issuance of a specific monetary institution, according to a specific algorithm, through a large number of calculations“ It can be understood that the bitcoin system is a huge and constantly updated ledger. Each page is called a block, connected in chronological order, which is called bitcoin's blockchain. Add a new block every 10 minutes, which contains some transactions in the system in the past 10 minutes. Every transaction will be completely recorded in this account book, and bitcoin is the money recorded in the account book. " Sun Xiao explains, "in fact, our electronic banking system is also a book, and Alipay is also a book. It also records the transaction records of everyone. But bitcoin is different from banks and Alipay. Bitcoin trading information is not stored in the central server but stored in all computer connected to bitcoin network. Under the workload proof mechanism of bitcoin, anyone in the bitcoin network can fight for the bookkeeping right. Whoever solves a mathematical problem related to bookkeeping first will have the bookkeeping right. This kind of mathematical problem has a characteristic that it is difficult to solve and easy to verify
"suppose that the problem is solved by throwing three dice, and the number of points thrown is less than 5, which is more difficult to throw, but the verification is very simple," Sun Xiaoxiao uses a similar example. But the real title is not so simple, its difficulty is equivalent to 100 million dice throw out less than 100 million 50 numbers, who throw out first, who will get the right to account. At this point, 1050 million is a hash value. The process of throwing dice is called hash collision. The unit of mining power is the number of hash collisions per second