Mining function

In 2009, bencong invented bitcoin, and set that there are only 21 million bitcoins. By participating in the proction of blocks and providing proof of work (POW), he can get the reward of bitcoin network. This process is mining

the concept of "mining" comes from the existing concepts in our real economic life, such as gold mining and silver mining. Because minerals are valuable, it drives people to pay labor to dig

another important point of bitcoin mining is that the miners who participate in mining recognize the value of bitcoin, and some of them are willing to spend money in the bitcoin market. Therefore, the mining of bitcoin is meaningful

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currency characteristics of bitcoin

1, decentralized

bitcoin is the first distributed virtual currency, and the whole network is composed of users without central bank. Decentralization is the guarantee of bitcoin's security and freedom

2, bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3, exclusive ownership

controlling bitcoin requires a private key, which can be stored in any storage medium in isolation. No one can get it except the user himself

4, low transaction cost

bitcoin can be remitted free of charge, but in the end, about 1 bitfen transaction fee will be charged for each transaction to ensure faster transaction execution

5, no hidden cost

as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6, cross platform mining

users can explore the computing power of different hardware on many platforms

Bitcoin mining machine is the computer used to earn bitcoin

mining software is the algorithm of bitcoin

the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

unlike all 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 feature and algorithm of P2P can ensure that it is impossible to artificially control the value of bitcoin by mass manufacturing. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

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bitcoin has the following six characteristics

1. Decentralization: bitcoin is the first distributed virtual currency, the whole network is composed of users, and there is no central bank. Decentralization is the guarantee of bitcoin's security and freedom

2. Worldwide circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

3. Exclusive ownership: private key is needed to control bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

4. Low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution

5, no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome limit of quota and proceres. If you know the other party's bitcoin address, you can pay

6. Cross platform Mining: users can explore the computing power of different hardware on many platforms

source of reference:

network bitcoin mining machine

network bitcoin

Mining: that is, bitcoin mining, is a process of using computer hardware to calculate the location of bitcoin and obtain it

In short, mining is the use of chips for a random number related calculation, get the answer in exchange for a virtual currency. Virtual currency can be exchanged for the currency of each country through some way. The stronger the computing power, the faster the chip can find this random answer. Theoretically, the more virtual coins can be proced per unit time. Because it's about random numbers, you can only get rewards if you happen to find the answer

"in the absence of central authority, it not only encourages miners to support bitcoin network, but also enables bitcoin's currency circulation system to have the initial source of money injection."

Nakamoto compares the generation of bitcoin by consuming CPU power and time to the consumption of resources by gold mines to inject gold into the economy. Bitcoin mining and node software mainly initiates zero knowledge proof and verification transactions through peer-to-peer network, digital signature and interactive proof system

each network node concts broadcast transactions to the network. After these broadcast transactions are verified by miners (computers on the network), miners can use their own work proof results to express their confirmation. The confirmed transactions will be packaged into data blocks, and the data blocks will form a continuous data block chain

Nakamoto himself designed the first version of bitcoin mining program, which was later developed into the first generation of widely used mining software bitcoin, which was popular from 2009 to mid-2010

each bitcoin node will collect all the unconfirmed transactions and gather them into a data block. The miner node will add a random adjustment number and calculate the SHA-256 hash value of the previous data block. The mining node tries again and again until it finds the random adjustment number so that the hash value is lower than a specific target

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at the earliest, bitcoin miners were mining through Intel or AMD CPU procts. But because mining is a computing intensive application, and with the continuous improvement of mining number and equipment performance, the difficulty graally increases, now using CPU mining has no profit or even loss

as of 2012, since the first quarter of 2013, miners graally began to use GPU or FPGA and other mining equipment [5]. At the same time, a large number of ASIC devices were launched in mid 2013

since July 2013, the computing power of the whole network has shown a straight-line rise e to the large number of ASIC equipment put into operation. Based on the average computing power in July 2013, all CPU mining equipment has been unable to generate positive revenue, and FPGA equipment is close to no revenue

according to the estimation of average computing power in September 2013, the existing small ASIC mining equipment developed for indivials will also be close to no positive revenue in the next 1-2 months. A large amount of computing power is monopolized by cluster ASIC mining equipment with 5 th ash / s or more. Because of no profit, indivial mining is almost squeezed out of mining groups. Some bitcoin miners have raised funds to build machine rooms and install a large number of mining equipment in places where low-cost electricity can be obtained

in order to save the cost of mining, some bitcoin miners make mining programs into malicious programs to infect other people's computers on the network to mine for themselves

Mining is a nickname for the exploration method of acquiring bitcoin. Because of its working principle is very similar to mining minerals, so named. In addition, bitcoin explorers who do mining work are also known as miners

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 the bitcoin network will generate a certain amount of bitcoin as a reward to reward the person who gets the answer

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to be a miner, just "mine" bitcoin and search for 64 bit numbers by computer. By repeatedly decrypting with a computer, it competes with other gold miners to provide the number needed for the bitcoin network

if the computer can successfully create a set of numbers, it will get 25 bitcoins. Bitcoin is decentralized. It needs to create a fixed number of bitcoins per unit of computing time. It can get 25 bitcoins every 10 minutes

by 2140, the upper limit of bitcoin in circulation will reach 21 million. In other words, bitcoin system can be self-sufficient, which can be translated into coding to resist inflation and prevent others from sabotaging< br />

Make money by hanging up. However, mining games have risks, sooner or later problems

Mining is the use of bitcoin mining machine, which is used to earn bitcoin

one of the ways to get bitcoin is that users download software from personal computer and then run specific algorithm to get corresponding bitcoin after communicating with remote server

bitcoin is a kind of virtual currency. Bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware. Miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by miners, so the competition for mining is very fierce

mining is actually a competition of performance and equipment. The mining machine composed of many graphics cards, even if it's only hd6770, can surpass the single graphics card of most users

and this is not the most terrible. Some mining machines are made up of more such graphics card arrays. When dozens or even hundreds of graphics cards come together, the graphics card itself costs money. Considering the hardware price and other costs, there is a considerable expenditure in mining

bitcoin mining process:

1. To find the ore pool

to start mining, there must be a ore pool with convenient operation and stable output. Its function is to subdivide the data packets for each terminal, and pay the corresponding amount of bitcoin according to the proportion of the data packets calculated by the terminal through precise algorithm

2. Download bitcoin miner (software)

in fact, there are many kinds of this miner, you can go to the official website to download

3. Setting mining software is a green software. After installation, we can set the language first to facilitate further setting. Next, you need to set the server, user name, password, equipment and so on. Generally, the server chooses a better network from BTC guide series, and the user name and password are set by ourselves before

4, bitcoin mining start

when we confirm that all settings are correct, click the "start mining" button to start bitcoin mining, and then the graphics card will soon enter the full speed running state, the temperature and fan speed will increase, you can monitor the state through gpu-z or graphics card driver