The state's support for computer mining
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
register the Ethernet wallet
the wallet address to the mining software to start mining
the money you have g can be sold in the trading market
that's it
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
First of all, when it comes to mining, bitcoin is indispensable. In fact, this problem is very simple. Any currency, including bitcoin, Leyte coin and infinite coin, is not created without any reason. Bitcoin must be generated by computer calculation. This method of generating bitcoin is called "mining". So how do indivials use computers to mine? Let's learn about it
As long as there is a computer that can access the Internet and download the bitcoin program from the bitcoin website, the first run will generate a digital account, and then keep running, the program will constantly calculate a series of "mathematical problems". When you have successfully calculated "a mathematical problem", the program will continue to run, It's possible to get a certain amount of bitcoin bitcoin
so bitcoin has high requirements for computer performance, and now it is generally collective mining, and personal computer mining seems to be out of fashion, or even no longer. To participate in mining, it is best to join some mining groups
the data of bitcoin is distributed on every client with wallet installed all over the world. Every transaction will be calculated in the whole network, and the fees you pay and the corresponding algorithm will ensure that the miners will get the corresponding remuneration
Bitcoin is a P2P network. Just like the familiar BT download mode, in order to keep the network running, it is necessary to always keep someone online to upload and share data with others. Therefore, the publishers of BT seeds often ask the sowers to be "Sowers" on the forum, but in fact, BT seeds are often broken. People are selfish. You can't ask everyone to contribute their resources for free, My computer is on. It costs at least electricityand the bitcoin network, like the BT download, needs "miners" to contribute their computer resources for calculation to ensure the operation of the bitcoin network. If the people who contribute resources like the BT download do not get the benefits, the bitcoin network will die. So the issue of bitcoin is designed that whoever contributes computing power to keep the bitcoin network running can get the fee paid by the network - bitcoin
3. Let's take another example. Our banks need fees to maintain their operation. We all know that bank transfer fees start from 2 yuan, and a card costs 10 yuan a year. But these fees are really the fees that banks need to maintain their operation, otherwise the bank will go bankrupt
In fact, we all know that these fees are reced in various forms. We can consider another mode: all services of banks are free, but as compensation, the state allows banks to issue their own currency, but only 1% of the total amount of all currencies can be issued each yearin this way, all people can enjoy the free service of the bank, but they have to bear 1% inflation virtually. In fact, it's easy for people to accept the immediate benefits - free services (which is the essence of the Internet model), without considering the impact of long-term inflation
this is the basic principle of the issuance and operation of bitcoin. Miners contribute a lot of computing power to maintain the operation and stability of bitcoin network, and in the process of computing, miners can get the new issue of bitcoin. Although inflation has actually occurred, the money in my wallet has not decreased, has it
and a clever design of bitcoin is that there are fewer and fewer new bitcoins, and the new bitcoin issue is decaying, so although bitcoin is not the deflationary currency that most people think, its inflation rate is really getting lower and lower, and finally tends to zero, and once the irrecoverable loss of bitcoin occurs, it will deflate
In a broad sense, network virtual currency refers to the online equivalent, which is stored in the network or related electronic equipment in the form of digitization by a certain issuing body based on public information network and by means of computer technology and communication technology, and realizes the functions of circulation and payment by means of data transmission through network system (including smart card); In a narrow sense, virtual currency is a new form of currency which is different from tangible currency. It is issued by some large companies and usually appears in online games. Because it has a certain value scale, it is often used as the payment currency for virtual transactions