Bitcoin on farm
mining is perhaps one of the most important components of the bitcoin ecosystem. Miners need to solve complex mathematical problems, so as to ensure the smooth implementation of the transaction. These problems are so complex that they are difficult to solve even for extremely powerful computers. Computers need work and luck to solve these mathematical problems, just as miners dig underground. The chance of solving this problem correctly is about one in 13 trillion
bitcoin mining has two purposes. Firstly, by solving mathematical problems, bitcoin miners can verify the transaction information, so as to ensure the security and reliability of bitcoin payment network. Miners are the people who ensure that transactions are accurate and that there is no "double payment."
Secondly, when the computer solves these complex mathematical problems on the bitcoin network, the system will generate new bitcoin, which is similar to the process of mining gold from the ground. The reward is called "block reward", and after the event called "halving", its amount will be periodically halved. The newly discovered concept of bitcoin is an important part of bitcoin protocol. The bitcoin obtained by the miners is brand new and has never been in circulation beforesince miners will eventually sell the bitcoin, it is also an important source of supply and liquidity. As chainalysis reports, many digital currency exchanges rely on miners to receive bitcoin and increase their liquidity. Typically, exchanges get about 88% of bitcoin from other exchanges, and bitcoin miners are the largest source of the remaining percentage. As you can imagine, there is fierce competition between exchanges to receive bitcoin directly from miners
further enlarge the map, most of the mining activities are only carried out in four provinces, the first two provinces are Xinjiang and Sichuan, accounting for nearly half of all bitcoin mining in China. Electricity prices are cheap and the weather is cold in these areas. This helps to keep mining profits and equipment cool ring the 24 / 7 operation and maintenance period of bitcoin mining
but this is nothing new for digital currency issuance. For many years, China has been a major market for bitcoin miners e to its cheap electricity and abundant resources. Bitmain, f2pool and Canaan are all located in China
whether this is a negative or positive message depends on your point of view. But for decentralized, distributed, unlicensed networks, geographic regions across multiple entities are more healthy for the entire ecosystem
The former richest man in the United States and the world, Warren Buffett, recently expressed his views on cryptocurrency at a general meeting of shareholders
"not everything is called investment. You pay attention to the investment itself and the value it proces, such as a house, an enterprise or even a farm. These are called investments because they generate added value. But digital currency and bitcoin are not. They don't proce any additional things. They are also virtual. Rather than investing in them, you hope that the next order will come soon. It's speculation, that's gambling. "
" I started buying stocks at the age of 11, stock market crash, technology bubble, bear market and financial crisis, all of which I have experienced. I don't know when and why the bad results will happen, but what I know is that I won't invest in bitcoin. In the future, bitcoin may become a situation that all investors do not want to see. "
Warren Buffett really has his own unique view. When American blue chip companies and IBM began to accept blockchain and develop it, multi gold Warren Buffett still didn't buy this encryption technology. Of course, he has been singing down bitcoin more than once. On many public occasions, Buffett has been expressing his idea of not looking at bitcoin
in fact, considering the short position explosion of 460000 bitcoin by a well-known trading platform before, what Buffett said is not unreasonable
the biggest slogan of bitcoin is nothing more than" decentralization ", but in the end, it still has to rely on the [centralized] currency exchange. As a result, it has been teased and become leeks to be cut
I think blockchain may change the world, but it is definitely not used in cryptocurrency such as bitcoin
a block is a collection of many transaction data, which is marked with time stamp and the unique mark of the previous block. Effective blocks will be added to the main blockchain after being recognized by the whole network. Blockchain is a data structure in which blocks containing transaction information are orderly linked from back to front. In the virtual money market, the most well-known application of block chain technology is bitcoin< At 3:00 p.m. on September 4, 2017, the people's Bank of China and other seven departments jointly issued the notice on preventing the financing risk of token issuance, which defined ICO as "an unauthorized illegal public financing behavior". At the same time, the regulatory authorities said that all kinds of token issuance financing activities should be stopped immediately, Organizations and indivials that have completed the financing of token issuance shall make arrangements such as refund. A vice president said, "it is normal that the rapid development of ICO has attracted the attention of regulators. According to the traditional law, ICO has the suspicion of crowdfunding and capital raising, and there is a great risk of laissez faire development without supervision. A large number of projects with no future even cheat themselves, which not only makes investors bear huge risks, but also makes the real blockchain entrepreneurial team complain a lot, which actually leads to the bad consequences of bad money driving out good money. The admission of a large number of retail investors and even "aunts" is just a weather vane - it's time for the regulatory intervention of ICO. This rectification is mainly to warn of risks and protect the interests of investors. "
ICO does not issue stocks, but digital currency, which is commonly known as token. Blockchain start-ups exchange bitcoin, Ethernet and other digital currencies in the form of crowdfunding to achieve the purpose of financing and entrepreneurship. Blockchain investors and entrepreneurs are very optimistic about blockchain technology, and think that the vigorous supervision of the government departments is good for the blockchain instry. Through the governance of ICO and the expulsion of digital coins, the blockchain can develop more steadily. It is hoped that this regulation can really crack down on pyramid selling currency and air currency, screen and treat seriously entrepreneurial blockchain innovation projects differently, and protect the interests of serious investors and entrepreneurs
blockchain technology can play its role in banking, mobile payment and other fields.
every piece of income: 64 Chia awards every 10 minutes halving strategy: one in three years, 4chia every 10 minutes from the 13th year
in Chia's network, there are no miners, mining, but farms, farmers, sowing. By introcing a new consensus mechanism, POS + pot (proof of space + proof of time), we can verify its blockchain with cheap, rendant and highly dispersed unused hard disk storage space, so as to create a digital currency superior to bitcoin
Chia network is a decentralized open source global blockchain. Compared with the traditional workload proof cryptocurrency, it is less wasteful, more decentralized and more secure. Its inspiration is similar to bitcoin blockchain, but in Chia, the resource is not computing power, but disk space. In order to achieve this goal, the "work proof" used in bitcoin is replaced by "space proof", so disk space becomes the main resource and time proof to reach a decentralized "Nakamoto smart" consensus to verify transactions. Chia network is also an intelligent trading platform company. On March 18, 2021, Chia network officially released Chia 1.0 main network with XCH token, and has opened mining (farm) activities
Chia's working principle
different from the existing cryptocurrency, Chia uses the idle disk space on the hard disk to run the proof of space, and coordinates with another consensus algorithm, potime, to verify the blockchain. The income of Chia farmers is directly proportional to the amount of resources storage space; If you have 10 times the space, you will get 10 times the reward. But the post here is different from filecoin and the mining mechanism of bitcoin. CHIAS uses spare disk space to sow, just as bitcoin uses computing power to mine, V; Bbkx008, but Chia is more suitable for ordinary users to participate, recing the additional ASIC, computing power and power consumption. Chia's mechanism naturally inhibited centralized seeding<
summary of Chia's common problems:
can I continue to plot if I shut down or quit the software accidentally
No, we can only do it again
parallel P several graphs, what if I don't set the time interval
if the time interval is not set, plot will fail. Generally, the interval of at least 10 minutes is set
can I dig my notebook
as long as your SSD is more than 330gb, you can dig, but I don't recommend you to use notebook SSD. Notebook SSD has a lifetime, and enterprise SSD on desktop is recommended. There is enterprise SSD performance summary excel in the group
When did this coin start digging? It was launched on the main network on March 18. Open the transfer function 6 weeks after the launch
is there any application for this Chia
at present, there is no
can I find someone to replace my P-map and sell me a mechanical hard disk full of writing
I don't recommend it, because the picture of P is associated with the wallet, so you need to send the wallet and the picture to you. Do you think it's safe for two people to memorize words in their hands
do I need SSD when I'm full of mechanical hard disk
No, you can take out the mechanical hard disk, connect it to the idle computer, and mine on the Internet, even to the raspberry pie