What is mining on the Internet

4.

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

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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

5. Bitcoin Mining: using computer hardware to calculate the location of bitcoin and get the process is called mining. The concept of bitcoin was first put forward by Nakamoto in 2009. According to Nakamoto's idea, open source software was designed and released, and p-2p China network was built on it. Bitcoin is a kind of digital currency in the form of p-2-p. Point to point transmission means a decentralized payment system. Unlike most currencies, bitcoin does not rely on a specific monetary institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole p-2p 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 characteristics and algorithm of p-2p 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. The monetary system had no more than 5.5 million in four years, after which the total number would be permanently limited to 2 million

6. Mining is to confirm the transactions in the bitcoin system over a period of time and record the process of forming a new block on the blockchain. The miner is called the miner. In short, mining is the process of bookkeeping, the miner is the bookkeeper, and the blockchain is the ledger. How to motivate the miner to mine? The bookkeeping power of bitcoin system is decentralized, that is, every miner has the right to keep accounts. The miner who successfully seizes the bookkeeping right will get the new bitcoin reward of the system. Therefore, mining is the process of procing bitcoin. When Nakamoto first designed bitcoin, it was stipulated that for every 210000 blocks generated, bitcoin rewards would be halved until bitcoin could no longer be subdivided. Because the total amount of bitcoin is limited as gold, bitcoin is called digital gold, and bitcoin proction is also commonly known as mining
. The bitcoin system ensures that bitcoin will not be g out too quickly by adjusting the difficulty coefficient. Every 10 minutes, the whole network is absent from work to jointly calculate a difficult problem, compete for bookkeeping rights and bitcoin rewards. If the computing power of the whole network continues to grow, bitcoin will be g out soon. In order to ensure that bitcoin can be g out in about 10 minutes, Nakamoto designs the difficulty of mining for bitcoin, Every 2016 blocks (about 2 weeks) are dynamically adjusted, so that the difficulty after adjustment makes the expected time for each block to be generated 10 minutes. Now the difficulty coefficient is about 480ph / S (Note: September 2017), which is about 68 billion times that of Genesis block. In other words, with the current computing power, the miners in the whole network need to go through about 300 trillion hash operations to find a qualified answer, Generate a new block
. Compared with point-to-point trading, mining and other purchases on the trading platform are the most popular ways to obtain blockchain assets, that is, floor trading. Floor trading of blockchain assets is similar to stock trading. The platform can help you match up, and you don't need to know who your trading partner is. Your trading partner may be one person or many people, Whether it's buying or selling, the trading platform will record the hanging order price of everyone. The buyer and the seller can obtain the latest transaction price through the real-time order. At the same time, the trading platform will summarize the historical transaction price and volume into a K-line chart, which is convenient for investors to analyze the market trend. For example, the UTOR market is the mainstream trading platform in the world.

7. Pro, are you going to get rich or interested in mining? If I'm interested, I won't say anything. If I want to get rich, I'll advise you. Forget it. It's not worth it. Now mining is a loss business

8. I haven't played for a long time. The service charge of bitcoin in China should be 0.1%. If you mind, you can play the flow ore transaction. There is no service charge for the flow ore.

9. Sikuai technology has been founded for many years. Its founder is Feng Guodong, an investment enterprise of xiongan fund. At the same time, he is also an engineer of the whole stack, and a technology bull. Blockchain technology plays an increasingly important role in life and work.

10. The "mining" in bitcoin is actually the process of bookkeeping. The operation of bitcoin adopts a mechanism called "proof of work (POW)". In order to find out who has more powerful computing power, the system will work out a mathematical problem every time. Only the computer that can solve the problem the fastest can carry out bookkeeping. The computer that grabs the bookkeeping right will be rewarded with 25 bitcoins. This behavior is usually called "mining", and the bitcoin obtained is regarded as the reward for successful mining.