Global cash mining

1. BCC started mining at 20:00 on August 1, and separated from bitcoin's main chain in block 478559. Viabtc, China's mining pool, excavated the first BCC block, and then the next block 478560. Before the separation from the main chain, the data stored in the blockchain and the running software are compatible with all bitcoin nodes. After the separation from the main chain, it begins to execute new code and package large blocks. Thus, a new BCC blockchain is born, and BCC also begins to develop independently

at present, the BCC network has become stable, the block speed is basically close to an average of 10 minutes, and the computing power of the whole network is basically stable at 5% - 10% of that of bitcoin

generally, it is through mining or direct purchase on the trading platform!

2.

BCC mining and bitcoin mining are the same, the only difference is the dynamic mining strategy

when BCC was just born, it continued the mining difficulty of BTC. The miners lost money for mining out of belief. At the beginning of bitcoin's birth, they even proced a block within 12 hours. In order to ensure the stable development of BCC network, BCC adopted the strategy of dynamic adjustment of mining difficulty, which can ensure that the block speed of BCC can well adapt to the decline of computing power

BTC is a difficulty adjustment for every 2016 blocks, while BCC adds a rule of "if the MTP interval of the past six blocks is greater than 12 hours, the next difficulty will be reced by 20%". At present, the mining difficulty of BCC has been reced a lot, which is about 13% of that of BTC. BCC's current block speed is close to an average of 10 minutes out of a block

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mining principle of BCC:

the previous life of BCC was bitcoin. Before the bifurcation, the data stored in the blockchain and the running software were compatible with all bitcoin nodes. After the moment of bifurcation, it began to execute new code and package large blocks, thus forming a hard bifurcation on the chain. At present, BCC is still a futures, which will be officially split into a new currency on August 1

security problems faced by bitcoin:

the first security threat of users comes from the user activated hard fork or uahf - all BTC holders who control their private key get an equal number of BCCs at the time of fork

that's the problem: there are many domestic trading platforms designed for bitcoin, but it should be noted that many investors use third-party transactions or unsupported software wallets, but the investors themselves do not control their private keys, so it is the third-party trading platform that finally receives the new currency. Some platforms will inform customers, while others will not

many investors have transferred their assets to the supported bitcoin wallet a few hours before the hard fork, while investors without independent wallets have to wait

there are many opportunities for phishing attacks or other malicious attacks, especially considering that most successful malicious attacks against bitcoin are focused on controlling private key or hacker exchange, rather than directly attacking currency. About the security of bitcoin, you can also add your own wechat seciot to communicate

BCC is very similar to BTC in technology, adding greater blocking and transaction replay protection, and the latter is in a new form of signature. Bitcoin cash transactions use a new sight_ Fork ID, which prevents bitcoin cash transactions from being replayed on bitcoin blocks

the new hash signature also brings additional benefits, such as the input value signature improves the security of hardware wallet and eliminates the second hash problem. In short, it is theoretically safer than BTC, and its purpose is to start and use faster and more convenient

However, BCC does face a major threat, that is, most attacks, that is, the security risk of a single entity acquiring more than 51% of the network processing power. At the same time, the common enemy shared by the two blockchains is interrupt attack. Most attackers use network interrupt to split the network to improve the probability of success

at the same time, partition network and network delay attack are threats. According to the latest research paper, for the so-called distributed network, it is easier than assumed, and 20% of bitcoin nodes are hosted in less than 100 IP prefixes

3. Subscribe currency order transaction, dig together, stir up money in the exchange, be crazy
upgrade mining machine, purchase electricity, dig together, realize wealth growth on the blockchain

how much overtime food to eat, rickets in the March bed, illness consciousness mode, desperate struggle, save life story
I have no fear of the world when I hold money Capital gathering, computing power resisting inflation and material desire

4. The GTC generated by cash withdrawal mining can be sold at the unit price of 1:1 after the backstage bill is registered, and then the service charge of cash withdrawal is 3%

GTC withdrawal does not need to be sold in the backstage bill, and the service charge of GTC withdrawal is 5%. The withdrawal function is only developed on weekends

for more information, please search gtcvip

5. Bitcoin (BTC) is the most popular digital currency in the world. The spread occurred on August 1, 2017. In a "hard fork" event, a new digital currency called bitcoin cash (BCH) was born. Due to version switching, bitcoin blockchain is forked into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock
bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account
(1) the transmission mode of the two is the same
bitcoin cash and bitcoin are completely decentralized, and the central bank does not issue or need a third party to operate, but the electronic cash is transmitted through the Internet
the previous life of bitcoin cash is bitcoin. Before the bifurcation, the data stored in the blockchain and the running software are compatible with all bitcoin nodes. After the bifurcation, it has little association with bitcoin and becomes a new currency
(2) the block capacity of recording transaction information is different
the block capacity of bitcoin is 1MB, while the segwit of bitcoin cash is deleted, which cancels the limit of 1m block size, supports 8m block size at most, and adheres to the on chain expansion route. It is a blockchain asset generated by bitcoin ABC scheme, which has greater stability and security. It can also support more transactions in a specific time. The size of the first BCH block g up by bitcoin cash has exceeded 1MB
(3) the difficulty of the two algorithms is different
there are 21 million bitcoins at most. With more and more bitcoins being g and less and less remaining, the difficulty of the algorithm becomes more and more difficult. Bitcoin cash adopts the dynamic difficulty adjustment mode, and the proction difficulty will be adjusted with the computing power in the whole bitcoin cash network. The more nodes you join, the higher the difficulty, otherwise, the lower the difficulty. Because bitcoin cash takes a long time to get out of the block, bitcoin cash began to adjust the difficulty of mining on August 8, and improved the speed of getting out of the block
technically, both bitcoin cash and bitcoin's workload proof algorithms are sha256, but the difference is the difficulty adjustment mechanism. The measures taken in the original bitcoin chain are to adjust the mining difficulty once every 2106 blocks are excavated according to the computing power. In order to prevent the situation of insufficient computing power, bitcoin cash adopts the emergency difficulty adjustment mechanism (EDA), which automatically reces the difficulty by 25% if the number of blocks is less than 6 in the last 12 hours
from the point of calculation power allocation: when BTC and BCH use sha256 algorithm together, miners can decide which kind of mine to dig according to the mining income. In the past three months, whenever the difficulty of BCH is reced and the mining income is greater than BTC, the computing power will flow into the BCH chain, which seriously affects the block speed of the two chains
problems faced by bitcoin cash
BCH has been controversial since its birth. The dispute between BCH and BTC, and the contradiction between miners and core may continue. This is caused by the defects in the design at that time. It is a "congenital disease" and the irreconcilable contradiction after birth, which leads to today's inseparable situation. And with the rising price of BCH, this contradiction may be further intensified.

6. Bitcoin mining is resource oriented. Because bitcoin mining consumes a lot of power resources, which is why many bitcoin miners have been looking for cheap power. For example, cheap hydropower in Sichuan
I saw an article in coin easy before, saying that 40% - 70% of bitcoin's mining power is in China. It said that about one third of the cost of bitcoin mining comes from electricity charges. In 2018, the mining power demand of bitcoin and other digital currencies will reach 120-140 trillion watt hours, while the global energy consumption of electric vehicles is expected to be only 125 trillion watt hours by 2025
at present, the most important thing for ordinary mining participants is the cost of electricity. In 2017, a number of mines in China began to be distributed in northern Europe and Russia.

7. Bitcoin cash mining is the same as bitcoin mining, and both use the same computing power. You can use a miner to dig

8. What's this? I heard it's a miner? This is a scale, not a miner. Please believe me.

9.

It is impossible to withdraw 200000 global currency. The business management department of the people's Bank of China issued the notice on self inspection and rectification of payment services for illegal virtual currency transactions, requiring legal person Payment institutions within their jurisdiction to carry out self inspection and rectification in their own units and branches from the date of document release, strictly forbidding to provide services for virtual currency transactions, and taking effective measures to prevent payment channels from being used for virtual currency transactions

the notice also requires that all units should strengthen the daily transaction monitoring, timely close the payment channels of relevant transaction subjects for the discovered virtual currency transactions, and properly handle the funds to be settled, so as to avoid mass incidents

this is not the first time that the regulatory authorities have imposed restrictions on virtual currency transactions. Last year, the regulatory authorities issued the "notice on preventing the financing risk of token issuance", which clearly pointed out that financial institutions and non bank payment institutions are not allowed to carry out business related to token issuance financing transactions

financial institutions and non bank payment institutions shall not directly or indirectly provide account opening, registration, trading, clearing, settlement and other procts or services for token issuance and financing and "virtual currency", nor undertake insurance business related to token and "virtual currency" or include token and "virtual currency" into the scope of insurance liability

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risk tips on further preventing "virtual currency" trading activities

with the promotion of blockchain technology, virtual currency trading activities are showing signs of resurgence in China, and some virtual currency trading platforms provide virtual currency trading services for domestic residents, The introction of zero interest lending, al currency financing and other projects through digital currency mortgage seriously violates the announcement on preventing the financing risk of token issuance issued by seven ministries and commissions including the people's Bank of China, and is suspected of engaging in illegal financial activities and disturbing the economic and financial order

the financial management departments, network and telecommunication management departments and public security departments within their jurisdiction keep a high pressure on the supervision of virtual currency trading, ICO and ICO in disguised form, and comprehensively use on-site interview, administrative investigation, website closure, criminal case filing and other means to crack down

here, we seriously warn the institutions and personnel in Beijing who carry out relevant activities not to publicize and promote relevant virtual currency projects or platforms, not to carry out sales or transactions of virtual currency business, not to carry out virtual currency transactions or disguised transactions with investors, not to engage in or act as an agent in the issuance and trading of virtual currency at home and abroad, All financial institutions and non bank payment institutions within their jurisdiction shall not provide services for any virtual currency transaction

at the same time, we should remind investors to be rational, strengthen risk prevention awareness and identification ability, guard against being cheated, and timely report relevant illegal clues