Mining machines are computers used to earn bitcoins. Such computers generally have professional mining crystals, and most of them work by burning graphics cards, which consumes a lot of power. Users download software with a personal computer and then run a specific algorithm. After communicating with a remote server, they can get corresponding bitcoins, which is one of the ways to obtain bitcoins.
Miners are one of the ways to get them. (Bitcoin) is a network virtual currency generated by open source P2P software. It does not rely on the issuance of a specific currency institution, and is generated by a large number of calculations of a specific algorithm. The economy uses a decentralized database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors. The decentralized nature of P2P and the algorithm itself can ensure that the currency value cannot be artificially manipulated through mass production.
Any computer can become a mining machine, but the income will be relatively low, and it may not be able to mine one in ten years. Many companies have developed professional mining machines, which are equipped with special mining chips, which are dozens or hundreds of times higher than ordinary computers.
To be a miner is to use your own computer to produce. There was an option of mining in the early client, but it has been cancelled. The reason is very simple. As more and more people participate in mining, it is possible to mine by yourself. It takes a few years to mine only 50 coins, so miners are generally organized into miners’ guilds, and everyone digs together.
It is also quite simple to mine. You can download the special calculation tool, then register with various cooperative websites, fill in the registered user name and password into the calculation program, and then click the calculation to officially start.
Risks of mining machines:
electricity bill problem
If the graphics card is “mined”, if the graphics card is fully loaded for a long time, the power consumption may be quite high, and the electricity bill will not be low. Mining machines are getting more and more advanced, but burning graphics cards for mining is the most cost-effective. Some miners said that taking care of machines is more tiring than taking care of people. Some netizens used more than 1,000 kWh of electricity for a mining machine for 3 months. In order to dig, the mining machine dissipates heat very much, even if it is freshly washed clothes, put it in the house It’s done in a while. Such a high electricity bill is likely to offset the money earned from mining, or even turn it into a subsidy.
hardware spending
Mining is actually a competition of performance and equipment. A mining machine composed of many graphics cards, even if it is just a garbage card like the HD6770, can still surpass the single graphics card of most users in terms of computing power after “grouping”. And this is not the most terrifying. Some mining machines are composed of more such graphics card arrays. Dozens or even hundreds of graphics cards come together. The graphics card itself also costs money. Counting various costs such as hardware prices, mining There are considerable expenditures for mines.
In addition to the machines that burn graphics cards, some ASIC (application-specific integrated circuit) professional mining machines are also being put into the battlefield. ASICs are specially designed for Hash operations. Although the performance may not be able to kill graphics cards in seconds, they are already quite strong, and because of their high performance The power consumption is much lower than that of graphics cards, so it is easier to scale, and the electricity cost is lower. It is difficult for a single graphics card to compete with these mining machines. And this machine will be more expensive.
currency security
Withdrawal requires up to hundreds of digits of keys, and most people will record this long string of numbers on the computer, but problems such as hard disk damage that often occur will cause the key to be permanently lost, which also leads to lost. “A rough estimate is that there may be more than 1.6 million lost.
Although it advertises itself as “anti-inflation”, it is easily controlled by a large number of big dealers, and there is a risk of devaluation. The rise and fall can be called a roller coaster.
Post time: May-25-2022
