Liquidity of computing power

1.

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 before

since 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

2.

POW: full name of proof of work

pos: proof of stake

both of them are the consensus mechanism of blockchain and the bookkeeping method of digital currency

the difference is:

1. POW mechanism: workload proof mechanism, that is, the proof of workload, is the requirement that must be met when generating a new transaction information (that is, a new block) to be added to the blockchain. In the blockchain network based on workload proof mechanism, the ability of nodes to obtain the correct numerical solution to generate blocks by calculating the numerical solution of random hash hash is the specific performance of node computing power

POS mechanism: the proof of rights and interests requires the certifier to provide a certain amount of ownership of cryptocurrency. The operation mode of the proof of rights and interests mechanism is that when creating a new block, the miners need to create a "currency right" transaction, and the transaction will send some coins to the miners themselves according to the preset proportion. According to the proportion and time of token owned by each node, the equity proof mechanism reces the mining difficulty of nodes proportionally according to the algorithm, so as to speed up the speed of searching for random numbers

extended materials:

the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, the open source software and the P2P network on it were designed and released. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system

unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography 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

3. After several years of ups and downs,
in 2009, it was 7 cents a piece,
now the price is more than 20000
if we had invested 700 yuan to buy 10000 bitcoins at that time, would it be 2.6 billion now?

4.

1 Division of mining units of ore deposits generally, ore deposits occupy a large area and have abundant reserves. In order to develop in a planned way, the ore deposits are often divided into several parts (mining units) from large to small according to the occurrence conditions of ore bodies, and are classified into corresponding mining enterprises (proction units) for mining

generally, the distribution range of ore deposits is called mining area, which is usually classified as a Mining Bureau (or company). All deposits in the same geological structure and of the same origin are called ore fields (coal mines are called coalfields). If the mine field is large in scale, it can be divided into several parts, each part is mined by a mine (pit mouth), which is called mine field (Figure 12-1). The boundary of mine field can be artificial boundary or natural boundary. During mining, the mine field must be divided into smaller parts. For inclined seam, the seam is usually divided into several long sections parallel to the strike according to a certain elevation along its inclined direction, which is called stage (or middle section), and the upper and lower interface is called horizontal, such as 0m level and - 50m level (Fig. 12-2). When the stage is small, the mining can be carried out at one time along the whole stage; If the stage area is large, it should be further divided into n mining areas, each mining area along the inclined layout of n mining faces, called section

Fig. 12-8 schematic diagram of roof failure zoning

(according to Beijing Academy of Coal Sciences, 1985)

a-irregular caving; B - rule falling; C-serious fracture; D-general cracking; E - tiny crack; F - caving zone; G-fracture zone; H-overall moving zone; I-fracture zone

1) caving zone: the area where the direct roof splits into pieces and collapses downward. It can be divided into irregular caving section and regular caving section. The rocks in this area are broken and expanded, accumulated and permeable, which can form a channel for the upper groundwater or surface water to pour downward, causing water inrush. Generally, this area is not allowed to develop into the upper strong aquifer or surface water

2) fracture zone: a large number of mining fractures with cut and separated layers appear above the caving zone. The zone can be divided into three sections: serious fracture section, general fracture section and micro fracture section. When the zone reaches the supply water source, the mine water inflow will increase sharply, even cause water inrush

3) overall movement zone of rock stratum: the zone is located above the fracture zone, which is generally characterized by the overall bending deformation or shear displacement of the stratum, or the overall bending and falling in the zone. Generally, there is no fracture and it does not form a water filling channel

5. It does not belong to mobile mining. In IPFs, computing power is based on storage. By providing hard disk space, computing power of users is stored, and then the packing capacity of each block is determined by random function. Therefore, IPFs is storage mining. At present, star harbor is in the leading position in the instry.

6. The methods of stress testing can be roughly divided into two categories: (1) sensitivity analysis. This method uses a specific risk factor or a group of risk factors to change the factors within the range of extreme changes identified by the executors to analyze the impact on the asset portfolio. The advantage of this analysis method is that it is easy to understand

7. The methods of stress test in △ free game gift pack station can be roughly divided into two categories: (1) sensitivity analysis. This method uses a specific risk factor or a group of risk factors to change the factors in the extreme range identified by the executors, and analyzes the effect on the asset portfolio. The advantage of this analysis method is that it is easy to understand

8. Blizzard mining machine line ah, and we all know, high configuration, node computing power, high performance, no need to say.

9. If a fork can significantly improve the transfer speed and rece the handling charge, and at the same time, it can re gather the majority of users and sufficient liquidity, then the popularity of its use and the value created for the society will be improved by several orders of magnitude

DBTC (dominant bitcoin) blocks out in 20 seconds, and gives a set of more perfect economic incentive mechanism, so that the liquidity and the number of users can quickly catch up with and surpass BTC: as long as the streaming platform opens DBTC transaction or payment, it can share 2 / 3 block rewards according to a set of open and fair mechanism

the new incentive mechanism can make liquidity and currency price, number of users and currency price enter a positive feedback cycle, realize self driven growth, and penetrate into every corner of the world at an unprecedented speed

note 1: streaming platform refers to the platform that can provide liquidity for digital currency, such as exchange, and the platform that can bring users to digital currency, such as Internet platform

note 2: currency can be divided into two categories: one is legal currency, which is characterized by stable currency value and can facilitate the transaction of domestic residents to the greatest extent; One is the world currency, which is characterized by almost absolute fairness. People all over the world are willing to use it, such as BTC, LTC and gold. The currency discussed in this paper refers to the world currency, such as BTC's portability and divisibility is better than gold, DBTC's goal is to optimize BTC and so on, without comparing with legal currency

note 3: digital currency is divided into three categories (reference from the Swiss monetary authority): cryptocurrency, token and digital assets. This paper only discusses cryptocurrency, not token and digital assets

1. The difficulty of capacity expansion

it is technically easy to realize the optimization of transfer speed and handling charge through bifurcation, but the difficulty is how to re gather the majority of users and sufficient liquidity

2. Defects of economic incentive mechanism in bitcoin network

in digital currency system, miners are responsible for bookkeeping and maintaining the security of account books, the issuing team is responsible for R & D and innovation, exchanges can provide liquidity, and Internet platform can bring users. Each of the four roles plays its own role in promoting the prosperity and development of bitcoin system
2.1 mining incentive and positive feedback cycle

under the mining incentive system, the currency price and computing power show a significant positive feedback effect: the higher the currency price is, the greater the mining incentive is, and the greater the incentive is, which drives the miners to invest more computing power; The greater the computing power, the more secure the account book is, and people will feel more at ease when using BTC, which is concive to the further rise of currency price

as the electricity charge only accounts for a part of the mining income, the mining machine will not be shut down even if the currency price falls in the short term, so the process will only develop in one direction.