What does GFC mining machine mean

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

extended data:

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

The bitcoin mining machine downloads the mining software and then runs a specific algorithm to get the corresponding bitcoin after communicating with the remote server, so as to obtain the bitcoin

any computer can become a mining machine, but the benefit will be relatively low, and it may not be able to dig a bitcoin in ten years. Many companies have developed professional bitcoin mining machines, which are equipped with special mining chips, and their computing speed is tens or hundreds of times higher than that of ordinary computers

bitcoin miners can neither increase their rewards by cheating, nor deal with the fraulent transactions that destroy the bitcoin network, because all bitcoin nodes will reject the blocks containing invalid data that violate the bitcoin protocol rules. Therefore, even if not all bitcoin miners can be trusted, the bitcoin network is still secure

extended data:

mining is a process of consuming computing resources to process transactions, ensuring network security and keeping everyone's information synchronized in the network. It can be understood as the data center of bitcoin. The difference lies in its completely decentralized design. Miners operate all over the world, and no one can control the network

this process is called "mining" because it is similar to gold panning, because it is also a temporary mechanism for issuing new bitcoin. However, unlike gold panning, bitcoin mining provides rewards for services that ensure the safe operation of payment networks. After the last bitcoin, mining is still necessary

anyone can run software on specialized hardware and become a bitcoin miner. Mining software monitors transaction broadcast through P2P network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners can earn transaction fees paid by users to speed up transaction processing and additional bitcoin issued according to fixed formula

Hello,
bitcoin miner is mainly composed of graphics card and computing chip
hardware expenditure
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. Taking into account the hardware price and other costs, there is a considerable expenditure in mining

To be a miner is to proce bitcoin with one's own computer. In the early client, there was the option of mining, but it has been cancelled. The reason is very simple. With more and more people participating in mining, it may take a few years for one to dig for 50 coins. Therefore, miners generally form a miner's guild to dig together. Specific mining methods, you can go online search. This method is already very unrealistic< br />