What is a Bitcoin Mining Machine? What is the principle of Bitcoin Mining Machine?
Although many investors don't know anything about Bitcoin mining, they can't resist the temptation of Bitcoin prices and plan to join the mining army. So if you want to dig, I'm sure you have a question in mind: "What is a Bitcoin digger? What is the principle of Bitcoin Mining Machine? To solve this problem, let's remember some popular science today._DJMINER
To fully understand the origin of Bitcoin, we have to mention the existing financial system.
Bitcoin
As we all know, money itself has no value. At first, people used barter to trade, but there are many inconveniences, it is difficult to change to the things they need. Money emerges as the times require. Through the intermediary of money, different goods can be priced according to the degree of rarity and the transaction process can be simplified.
Despite the many benefits of currency trading, there is also a fatal disadvantage: centralization. 100% of the world's currencies are issued or abolished by National Central banks. Ordinary people cannot participate in currency issuance or central bank accounts. If the central bank keeps issuing money, it will dilute the money in people's hands and reduce the purchasing power of money._DJMINER
This is by no means alarmist. Such incidents have occurred in some countries of the world.
Zimbabwe, for example, had to introduce the US dollar into its legal tender in recent years, as a result of the government's massive overpayment of currencies, which had brought Zimbabwe's economy close to collapse. Now Zimbabwean economists are considering alternatives to Bitcoin.
Like this movie, Bitcoin does not exist in a central server like a central bank, but in hundreds of millions of computers around the world. Since its launch, no one can theoretically control the number of bitcoins or manipulate the value of the currency artificially by making large quantities of bitcoins. The cryptographic design enables Bitcoin to be transferred or paid only by the real owner with excellent security.
But Bitcoin is not perfect. There is a fatal flaw that prevents it from becoming legal tender.
Mining is the process of consuming computing resources to process transactions, ensure network security and keep everyone's information synchronized in the network. It can be understood as the data center of Bitcoin. The difference lies in its completely de-centralized design. Miners operate all over the world. No one can control the network. This process is called "mining" because it is similar to gold rush because it is also a temporary mechanism for issuing new bitcoins. Unlike gold rush, however, Bitcoin mining provides incentives for services that ensure the safe operation of payment networks. After the last Bitcoin issue, mining is still necessary.
In short, the calculation of Bitcoin mining is based on the mathematic problem of SHA256 algorithm. To confirm the network transaction, Bitcoin network will give the equivalent Bitcoin reward according to the size of miners'contribution. At present, Bitcoin mining has gone through three stages, CPU, GPU, ASIC. At present, ASIC mining machine is the dominant one. Among them, Avalon mining machine is particularly prominent. Avalon mining machine has been at the forefront of the mining machine industry, and is the leader of Bitcoin mining industry. At present, mining machine with three generations of chips has entered the market, and the fourth one is Avalon mining machine. Generator chips are said to be under development._DJMINER
Anyone can run software on dedicated hardware and become a Bitcoin miner. Mining software monitors transaction broadcasts through P2P networks, performs appropriate tasks to process and confirm these transactions. Bitcoin miners do this to earn transaction fees paid by users to speed up transaction processing and additional Bitcoins issued in a fixed formula.
New transactions need to be included in a block with mathematical workload proof before they can be confirmed. This proof is difficult to generate because it can only be generated by trying billions of calculations per second. Miners need to run these calculations before their blocks are accepted and rewarded. As more people begin to dig, the difficulty of finding effective blocks increases automatically by the network to ensure that the average time to find blocks remains 10 minutes. As a result, the competition for mining is so fierce that no individual miner can control what is contained in the block chain._DJMINER
Workload proof is also designed to rely on previous blocks, thus forcing the timing of block chains. This design makes it extremely difficult to revoke previous transactions, because the workload certificates of all subsequent blocks need to be recalculated. When two blocks are found at the same time, the miners process the received * 9 blocks and transfer them to the longest block chain once the next block is found. This ensures that the mining process maintains a global consistency based on processing capability.
Bitcoin miners can neither increase their remuneration by cheating, nor deal with fraudulent transactions that disrupt the Bitcoin network, because all Bitcoin nodes reject blocks containing invalid data that violate the rules of the Bitcoin protocol. So even if not all Bitcoin miners can trust, the Bitcoin network is still secure.
Mining creates a competitive mechanism equivalent to lottery tickets, and it is very difficult for anyone to add new trading blocks to the block chain. This mechanism can prevent any individual from gaining the ability to freeze certain transactions, thus ensuring the neutrality of the network. This mechanism also prevents any individual from replacing part of the block chain to reduce their own costs, otherwise it can be used to cheat other users. The mining mechanism makes it extremely difficult to withdraw a previous transaction because it requires rewriting all blocks after the transaction._DJMINER
What is the Bitcoin Mining Machine? I often hear about Bitcoin, Bitcoin Mining Machine. Xiaobian tells you about Bitcoin. Bitcoin miner is the computer used to earn Bitcoin. This kind of computer generally has professional mining chip, and mostly uses the way of burning graphics cards to work, which consumes a large amount of electricity.
It is one of the ways to get bitcoin that users download software from personal computers and run specific algorithms to communicate with remote servers. The popular digital currencies in 2013 are Bitcoin, Wright, Zeta, Penny, Invisible Gold Bar, Red Currency, Pole Currency, Barbecue Currency and Prime Number Currency. At present, there are hundreds of digital currencies issued all over the world._DJMINER
Method
Download the special Bitcoin calculating tool, then register various cooperative websites, fill in the registered user name and password into the calculating program, and then click on the operation to start officially.
Price and performance
The price of a Bitcoin miner ranges from $2,300 to $200,000. From 2011 to 2013, the high allocation of bitcoin "miner" increased from 10,000 yuan to 300,000 yuan, but the performance is much better than before. According to industry insiders, the old machine can only dig up a bitcoin in 100 days, but now (in 2013) it can dig up to 3.5 bitcoins in 100 days._DJMINER
According to the miner information released by the domestic assembly team, a minimum configuration miner with a price of 3000 yuan can be returned in more than 30 days according to the bitcoin mining speed. Machines with mining speed of 10G/s can dig up about 0.03 bitcoins 24 hours a day, while machines with 13G/s can dig about 0.035 bitcoins 24 hours a day according to the computing power and difficulty of the whole network in 2013.
With the orderly implementation of cashless society, paper money will inevitably disappear in the long history with the passage of time. The future digital currency is believed to be similar to Bitcoin, but not limited. But when human's ability to produce wealth can be fully matched by the computing power of computers, the speed of electronic money issuance is proportional to or slightly over a certain rate of computer computing speed to create moderate inflation. In the future, while mining, it is also creating value rather than wasting electricity. The final digital currency matches the slight change of productivity with the difficulty of calculation, which may be the final form of human currency._DJMINER
The Origin of Bitcoin
To fully understand the origin of Bitcoin, we have to mention the existing financial system.
Bitcoin
As we all know, money itself has no value. At first, people used barter to trade, but there are many inconveniences, it is difficult to change to the things they need. Money emerges as the times require. Through the intermediary of money, different goods can be priced according to the degree of rarity and the transaction process can be simplified.
Despite the many benefits of currency trading, there is also a fatal disadvantage: centralization. 100% of the world's currencies are issued or abolished by National Central banks. Ordinary people cannot participate in currency issuance or central bank accounts. If the central bank keeps issuing money, it will dilute the money in people's hands and reduce the purchasing power of money._DJMINER
This is by no means alarmist. Such incidents have occurred in some countries of the world.
Zimbabwe, for example, had to introduce the US dollar into its legal tender in recent years, as a result of the government's massive overpayment of currencies, which had brought Zimbabwe's economy close to collapse. Now Zimbabwean economists are considering alternatives to Bitcoin.
Like this movie, Bitcoin does not exist in a central server like a central bank, but in hundreds of millions of computers around the world. Since its launch, no one can theoretically control the number of bitcoins or manipulate the value of the currency artificially by making large quantities of bitcoins. The cryptographic design enables Bitcoin to be transferred or paid only by the real owner with excellent security.
But Bitcoin is not perfect. There is a fatal flaw that prevents it from becoming legal tender.
What is Bitcoin Mining?
Mining is the process of consuming computing resources to process transactions, ensure network security and keep everyone's information synchronized in the network. It can be understood as the data center of Bitcoin. The difference lies in its completely de-centralized design. Miners operate all over the world. No one can control the network. This process is called "mining" because it is similar to gold rush because it is also a temporary mechanism for issuing new bitcoins. Unlike gold rush, however, Bitcoin mining provides incentives for services that ensure the safe operation of payment networks. After the last Bitcoin issue, mining is still necessary.
Mining with graphics card GPU
In short, the calculation of Bitcoin mining is based on the mathematic problem of SHA256 algorithm. To confirm the network transaction, Bitcoin network will give the equivalent Bitcoin reward according to the size of miners'contribution. At present, Bitcoin mining has gone through three stages, CPU, GPU, ASIC. At present, ASIC mining machine is the dominant one. Among them, Avalon mining machine is particularly prominent. Avalon mining machine has been at the forefront of the mining machine industry, and is the leader of Bitcoin mining industry. At present, mining machine with three generations of chips has entered the market, and the fourth one is Avalon mining machine. Generator chips are said to be under development._DJMINER
What is the principle of Bitcoin mining?
Anyone can run software on dedicated hardware and become a Bitcoin miner. Mining software monitors transaction broadcasts through P2P networks, performs appropriate tasks to process and confirm these transactions. Bitcoin miners do this to earn transaction fees paid by users to speed up transaction processing and additional Bitcoins issued in a fixed formula.
New transactions need to be included in a block with mathematical workload proof before they can be confirmed. This proof is difficult to generate because it can only be generated by trying billions of calculations per second. Miners need to run these calculations before their blocks are accepted and rewarded. As more people begin to dig, the difficulty of finding effective blocks increases automatically by the network to ensure that the average time to find blocks remains 10 minutes. As a result, the competition for mining is so fierce that no individual miner can control what is contained in the block chain._DJMINER
Bitcoin Mining Machine
Workload proof is also designed to rely on previous blocks, thus forcing the timing of block chains. This design makes it extremely difficult to revoke previous transactions, because the workload certificates of all subsequent blocks need to be recalculated. When two blocks are found at the same time, the miners process the received * 9 blocks and transfer them to the longest block chain once the next block is found. This ensures that the mining process maintains a global consistency based on processing capability.
Bitcoin miners can neither increase their remuneration by cheating, nor deal with fraudulent transactions that disrupt the Bitcoin network, because all Bitcoin nodes reject blocks containing invalid data that violate the rules of the Bitcoin protocol. So even if not all Bitcoin miners can trust, the Bitcoin network is still secure.
How can mining help protect Bitcoin?
Mining creates a competitive mechanism equivalent to lottery tickets, and it is very difficult for anyone to add new trading blocks to the block chain. This mechanism can prevent any individual from gaining the ability to freeze certain transactions, thus ensuring the neutrality of the network. This mechanism also prevents any individual from replacing part of the block chain to reduce their own costs, otherwise it can be used to cheat other users. The mining mechanism makes it extremely difficult to withdraw a previous transaction because it requires rewriting all blocks after the transaction._DJMINER
What is a Bitcoin Mining Machine?
What is the Bitcoin Mining Machine? I often hear about Bitcoin, Bitcoin Mining Machine. Xiaobian tells you about Bitcoin. Bitcoin miner is the computer used to earn Bitcoin. This kind of computer generally has professional mining chip, and mostly uses the way of burning graphics cards to work, which consumes a large amount of electricity.
Bitcoin Mining Machine Specially Used for Mining
It is one of the ways to get bitcoin that users download software from personal computers and run specific algorithms to communicate with remote servers. The popular digital currencies in 2013 are Bitcoin, Wright, Zeta, Penny, Invisible Gold Bar, Red Currency, Pole Currency, Barbecue Currency and Prime Number Currency. At present, there are hundreds of digital currencies issued all over the world._DJMINER
Method
Download the special Bitcoin calculating tool, then register various cooperative websites, fill in the registered user name and password into the calculating program, and then click on the operation to start officially.
Price and performance
The price of a Bitcoin miner ranges from $2,300 to $200,000. From 2011 to 2013, the high allocation of bitcoin "miner" increased from 10,000 yuan to 300,000 yuan, but the performance is much better than before. According to industry insiders, the old machine can only dig up a bitcoin in 100 days, but now (in 2013) it can dig up to 3.5 bitcoins in 100 days._DJMINER
According to the miner information released by the domestic assembly team, a minimum configuration miner with a price of 3000 yuan can be returned in more than 30 days according to the bitcoin mining speed. Machines with mining speed of 10G/s can dig up about 0.03 bitcoins 24 hours a day, while machines with 13G/s can dig about 0.035 bitcoins 24 hours a day according to the computing power and difficulty of the whole network in 2013.
With the orderly implementation of cashless society, paper money will inevitably disappear in the long history with the passage of time. The future digital currency is believed to be similar to Bitcoin, but not limited. But when human's ability to produce wealth can be fully matched by the computing power of computers, the speed of electronic money issuance is proportional to or slightly over a certain rate of computer computing speed to create moderate inflation. In the future, while mining, it is also creating value rather than wasting electricity. The final digital currency matches the slight change of productivity with the difficulty of calculation, which may be the final form of human currency._DJMINER
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