College students make tens of thousands of dollars in virtual currency
In July 2010, a miner took the lead in successfully mining with personal GPU, opening a new era of mining. First, a person, a laptop, can dig Bitcoin. At that time, mining was cheap, so some programmers were willing to spend 10000 bitcoins to buy two pizzas. Later, from CPU mining to GPU mining, and then to professional ASIC mining machines and mines, the threshold and degree of specialization of mining became higher and higher.
After graduating from university in 2015, I went to work in the power company. At the end of that year, I bought several machines and started digging, mainly digging bitcoins. Later, because they and their friends were mining, several people cooperated to build a small mine, manage hundreds of machines, and thus embarked on the road of the mine owner. In 2016, when I joined the bank, I made the most money with 120 mining machines. I entered the bank by accident. Around August 2016, the previous old leaders came to me and said that mining can make money, which is better than working outside. At this point, when I have no idea about blockchain, I have to rush into the business, starting from scratch, from buying mining machines, building mines, welding shelves, making distribution board sockets, even making network cables. From the second half of 2016 to September 2017, 40 of our mining machines can be recorded at 2000 or 3000 yuan per day. Even in the extreme market of “September 4” in 2017, there are more than 1000 incomes per day. During the “September 4” period, many people saw the decline of bitcoin, and a large number of mining machines sold off. A second-hand mining machine is only 1300 yuan. On the contrary, we copied 80 mining machines and returned their original books more than a month after we got them. At that time, our 120 mining machines, at the peak of the day, accounted for over 10000.
Mining: it’s the jargon of the currency world, specifically refers to bitcoin that uses the computing power of chips to continuously “hash collide” in the blocks generated by bitcoin system to win the bookkeeping right, so as to obtain system rewards. Mining pool: what is mining pool? Mining pool is a lot of players working together to “mine”. The mining pool can unify the computing power of each member, mine together, and finally allocate bitcoin according to the proportion of computing power of each player’s computer.
What’s the general explanation of bitcoin mining principle? If you have to simply summarize it, the process of generating a qualified block from the latest blockchain data and chaining it into the blockchain is mining. Mining is bitcoin of course. At the beginning of the currency speculation, many people became rich by mining. Of course, you can buy ready-made bitcoin directly, but when you can dig it yourself, who will buy it. Bitcoin’s mining is heating up. Computing power, buying mining machines and finding places where electricity is cheap are almost the necessary way for people who want to mine to start their own businesses.
By consuming the computing power of each computer to process the transaction information in the bitcoin system, and more and more people and institutions join in the decentralized mining, we find that no one or institution can monopolize the bitcoin produced by the mining, because everyone wants the benefit, because the benefit is always the most primitive power of human beings System design, if any person or organization wants to monopolize mining to produce bitcoin, it must master more than half of mining computers and equipment, but this is impossible to achieve, so bitcoin system is more and more powerful and secure. If the system encounters hacker attack, only a small number of nodes will be affected. Most nodes will continue to operate, continue to process transactions, continue mining, and will not be affected at all. The revenue from mining comes from bitcoin rewards and transaction fees.
In 2009, bencong excavated the first block of bitcoin, the genesis block, bringing the concept of open source and bitcoin to the public. Since then, bitcoin has grown rapidly, from niche currencies to global currencies. A key factor in bitcoin’s success is its pioneering introduction of the concept of “mining” on the basis of cryptography. The concept of proof of work is to add a set of transactions to the distributed network. Each group of transactions is packed into a block header, which also contains a random string (noun). The miner needs to search and calculate the correct string (noun) to make the whole block meet certain conditions. For bitcoin, the string needs to satisfy the SHA-256 hash value of the block (a certain number of leading zeros are required).
Published at Thu, 19 Dec 2019 07:54:18 +0000
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