Why doesn't bitland mine by itself

1.

At the end of March this year, bitmainland launched an ant miner X3 based on ASIC, which is mainly aimed at Monroe coin (XmR) and cryptonight algorithm dependent cryptocurrency. Monroe coin immediately issued a counter statement that it will change the core algorithm to fight against the invasion of ASIC computing power

what would be the result if it appeared in the world of digital cryptocurrency? That is, the wrong calculation results may be brought into the whole network without being discovered

More importantly, if a "calculator manufacturer" monopolizes the calculator market, it can also deliberately proce this kind of calculator with errors to change the mathematical rules

after all, the "calculation" in the field of crypto digital currency is not as simple as 1 + 2 + 3. You can't compare paper currency with special currency by hand

the practical significance of computing power monopoly in mainland China

we have learned about attacks based on 51% computing power in various articles

but the reality is that although the global power of 78% was in Chinese mainland, fortunately, they were scattered in different pools and controlled by different people. p>

although all POW based cryptocurrencies have the risk of being attacked by 51%, few people can really launch attacks e to the dispersion of computing power

but what if the miners themselves don't want to attack, but the mining machinery manufacturers attack

still using the analogy just now, although each miner subjectively wants to do the problem checking independently, their calculator is manipulated remotely and gives consistent wrong answers. This may pose a great threat to digital cryptocurrency

however, the manufacturer with the absolute voice of mining machinery had such a problem in mainland China

in April 2017, the back door of antbled came out. Although this is described as a "vulnerability" in Chinese, antbled is more like a function that has been implemented and designed

anonymous people found that after an ant miner made by bitmainland was connected to the network, it would communicate with a domain name held by bitmainland on a regular basis and return the miner's serial number, MAC address and IP address to bitmainland's server. If the server of bitcontinent gives a negative signal, the miner will stop running

although bitcontinental responded that they could not shut down any mining machines that did not belong to them. However, the bitcoin core team has proved in experiments that this function has no verification. Anyone can shut down mining machines by forging DNS - but it also means that bitcoin mainland has the ability to shut down any sold mining machines

After

, bitcontinent fixed this "loophole", but it caused heated discussion in the community. This has also set the tone that almost all pow blockchain communities are biased against mainland China

a few months later, under the leadership of bitcontinent, viabtc g out the first block and made a hard bifurcation with the blockchain of bitcoin. From then on, bitcoin BCH (bitcoin cash) appeared in the world

will the monopoly of mining machinery destroy the distributed system

facing this problem, we should have a clear answer now. That is, the monopoly of mining machinery will certainly affect the safe operation of pow digital cryptocurrency

the problem is not whether bitcontinental and its founder Wu Jihan are trustworthy, but that one of the values of any blockchain system is to operate safely without trust in any single company or indivial

even if the ASIC miner is not monopolized by bitmainland, the ASIC miner itself will increase the concentration of computing power

the ASIC used for mining has great requirements for ventilation, power and site, and has no use except for mining. At the same time, the calculation difficulty of the whole network is increased e to the powerful computing power

as a result, it is very difficult for external players to start mining in the next software on the computer as they did five years ago. And the recent centralized exchange is caused by frequent black incidents, which also proves that concentration in this unregulated market will definitely lead to insecurity

assuming that the bitcoin network runs on top of one million miners, no one can shut it down. And if the bitcoin network runs on 20 large mines, it's much easier to shut it down

and by the end of 2017, 78% of the effort was concentrated in mainland China, which led to a real possibility of Chinese mainland regulators' launching a deadly attack against the special currency. p>

moreover, most of the scenarios of using digital cryptocurrency are related to "decentralization". Once centralized, it means that these scenarios no longer exist. It turns a project that might have value into a pure waste of computing power

Then, what measures should we take in the face of this situation

first of all, as the project side, it may be time to give up the pure POW mechanism. In fact, in many projects of issuing cryptocurrency, especially in asset securitization projects. Similar to the concept of stock in the real world, POS itself is more reasonable than pow

in the media that don't know about blockchain, we often hear such words as "bitcoin wastes a lot of computing power and has no value", which is reasonable to some extent. It is difficult for a POW based blockchain to bind the value of the project itself to the issued digital cryptocurrency - because the real value behind the price of the currency does not come from the project, but from the cost of maintaining computing power

and the hybrid mode of pow + POS is more like the future. In the hybrid mode, both coin holders and miners can participate in the major decisions of this community. If a decision is widely accepted, the blockchain will be soft forked to the latest state without excessive intervention of developers, and there will be almost no private resistance of miners or mining machines

secondly, as a retail miner, if you are still digging a pure POW mechanism currency, you should unconditionally support the bifurcation activities initiated by the community to resist the ASIC mining machine, even if it will lead to the failure of your mining machine

this may sound contradictory, but in the long run, it is better to promote the reform of the community and get more benefits in a currency controlled by the monopoly of computing power. Because in many conflicts between computing power and community in the past, the ultimate result is that the computing power owner will forcibly keep the old algorithm to hard fork the blockchain

just like Eth and etc, the classic Ethereum (etc), which belongs to the computing power master, has lost the support of developers and become an air coin with no vitality and impossible to develop applications

as a retail leek, you should be careful to trade the non mainstream digital currencies (except bitcoin) supported by bitmainland mining machinery, so as to avoid falling into a blockchain in which bitmainland controls the computing power completely

finally, if you are bitcontinent, what should you do

bitcontinent's goal is to become Intel, AMD and NVIDIA, make greater contributions to the whole computer instry, and become a great company, not just entangled in the immediate interests of mining

Wall Street financiers have long seen through the violence brought about by NVIDIA's video card mining. The rise and fall of the company's stock price has been consistent with the price of bitcoin, and even affected by the digital currency market. Citron, a well-known short seller, has recently been bearish on NVIDIA, arguing that the company has focused too much on providing services for digital currency miners rather than on serious businesses such as artificial intelligence, games and driverless driving

the mission of chip manufacturers is to provide more powerful chips to drive more intelligent services, and finally contribute to the real world, rather than become monopoly tycoons in the virtual world. When we no longer enter the gate of the virtual world, the only thing left is a deserted land

in an interview with US media last year, Wu Jihan disclosed that he would make an IPO with a market value of billions of dollars. As a company about to go public, bitmainland should not only be responsible to investors, but also accept investors' questions about the sustainability of its business. "If your mining machinery goes public, it will encounter a fork, what should you do?"

and this question, which needs to be asked after the listing, has already appeared: the current price of the split coin xmo after the Monroe team split is $7.50, while the current price of the real Monroe coin XmR is $194, and the split coin is completely abandoned by the Monroe community

before bitcontinent becomes the name of all blockchain communities, we can rely on the huge amount of capital accumulated in recent years to transform into an artificial intelligence chip company along the previous plan, rather than continue to develop a variety of digital currency mining machines to extract the last drop of oil before the ecological collapse

content source: phoenix.com

2.

See a lot of people selling bitcoin mining machines, why don't they go mining? Do they make more money selling machines than digging bitcoin

On the gold road, the most profitable is the ticket. Those who dig money are all gold miners. Mining machine manufacturers are those who sell water and shovels on the way to gold mining. The so-called saying is that they have heard the news one after another, and they specialize in the technology instry. It's OK to do a good job in their own specialty. They can't earn any money

the purpose of enterprises is to make money. Since selling mining machines can make money, why should they be involved in the mining instry. Wu Jihan in mainland China is worth tens of billions of yuan only by selling mining machines, and he is engaged in large-scale mining in many countries. It's also very limited. Since selling equipment can make money, why do you have to mine

another example is the e-commerce instry. I don't know whether it makes money or not, but I know that agent operation must make a lot of money. Now the hot small program, businesses through small programs to earn money, I do not know, but those who help develop small programs companies must make money

3. Go to bitcontinent and see, ant miner is more reliable. If your electricity bill is cheap enough, it's OK to use outdated mining machine. Regardless of the electricity bill, and because the old mining machine is cheap, you can get back the cost quickly. A new miner costs thousands of yuan, which is nothing. Old miner, cheaper.

4.

At present, bitcoin needs to be g by professional mining machines. 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

according to the current speed and the number of bitcoins, it will take three months to get a bitcoin if a computer is kept in a 24-hour state of operation

extended data:

because the current bitcoin mines use special bitcoin mining machines to mine. The computing power of an ant S9 miner is 13.5th/s, which is equivalent to the sum of the computing power of 7500 1080ti graphics cards. A medium-sized mine has hundreds of such miners

the instry of bitcoin is not very good either, so you'd better not dream of becoming rich overnight with bitcoin. Now many countries have issued policies to suppress the rise of bitcoin prices. Some countries even refuse to dig bitcoin. Many bankers and economists are disgusted with the emergence of bitcoin

5. How hot is it? I've heard about mining! Not through computer equipment, are basically liars! It's all about blockchains. So as to cheat some small white user's money! Of course, some people make money! Most people don't make money, you know! Like you!

6.

According to the current computing power of the whole network, it takes 54436.5t of computing power to dig a bitcoin 24 hours, that is, one bitcoin a day< it requires 746 mining machines with the latest 73t capacity on the market to work together for 24 hours

the cost of mining mainly includes (mining machine cost / power cost). Now the latest miner is 22650 yuan, a miner consumes 77 kwh per day. At present, the price of mining machinery on the market is about 0.36 yuan, 28 yuan per day. The cost of mining bitcoin = mining machine price (22650)

mining bitcoin requires a professional site "mine" to place mining machines. The construction cost of placing about 3000 mining machines in a small professional mine is about 300 watts

extended data

unable to mine at home

the noise of 60-80 decibels will be proced by the mining machine in the working process. Mining at home is not feasible, the miner needs 24 hours of endless operation, so the temperature of the miner will be very high, the maximum temperature can reach 80 degrees. Therefore, mining needs a good environment to rece the temperature. Household electricity and electricity charges are high, and the cost is higher than the income. In addition, mining has a certain degree of professionalism, professionals need to carry out certain operation and maintenance to ensure the normal operation of the mining machine

the key to rece the mining cost is to purchase mining machines in batches and low electricity charges. Professional mine is built to ensure the operation of mining machinery. At present, the mainstream mining machinery manufacturers are bitcontinental Technology Co., Ltd. in Beijing and Jianan Yun Technology Co., Ltd. in Hangzhou. Mining machinery is proced in the form of appointment in futures. It is difficult for indivials to buy Mining machinery in small quantities on the official website. After years of development, the mining machinery market has formed a complete instrial chain. The price of mining machinery fluctuates with the price of money, and the power resources are basically distributed in the cheap western region. Getting cheap electricity prices requires personal resource advantages

7.

Bitcoin is actually a useless string of numbers, but it is recognized as useful, just like diamonds, antiques, calligraphy and paintings, game skin and so on. They can't be eaten or used, but we will recognize their value

"mining" just allows more people to participate in the construction of blockchain network. Is it really good that so many electricity charges are used to "calculate" a series of virtual values? Bitcoin is not a hedge. The price of bitcoin fluctuates greatly. Speculation on bitcoin may become rich overnight or become poor overnight. Bitcoin is not as safe as it claims. In 2014, the world's largest bitcoin trading website, mtgox, was hacked and went bankrupt, and the $467 million worth of bitcoin evaporated instantly. Criminals use it to launder money, evade taxes and so on. It is also quite difficult for the government to investigate. The above personal opinions are welcome to be criticized and corrected. Agree with me, please click like before you go, thank you! Like me, please pay attention to me, thank you again

8. R1 has built-in WiFi mole, adopts 802.11g/n standard, has 150m transmission capacity, and can turn wired network into WiFi. R1 software adopts openwrt system, which can realize advanced functions such as wireless relay.

9. This kind of behavior is natural and unreasonable. It's a long way to go. If you do this kind of thing, you will be caught sooner or later, and the sentence is very heavy. Don't do it. It's recommended to watch the ecation of sages and change your destiny. It's a video that will benefit you a lot.

10. Bitmainland has not invested in any currency
extended reading:
bitmainland is a Chinese IC design company, established in early 2013, focusing on the research, development and sales of bitcoin mining chips and mining machines

strive to further promote the decentralization process of bitcoin through mining machines with more cost-effective advantages, so as to provide more convenience and benefits for miners all over the world
bitcontinent is a high-tech company composed of integrated circuit technology team, bitcoin experts, venture capital experts and entrepreneurs. With years of experience in the field of integrated circuits, the founding technical team has successfully designed and mass proced a number of chips in the field of digital signal processing, including bitcoin mining chips, to provide customers with competitive customized hardware solutions.