Ji chain mining machinery Jiji currency plummeted

5.

At the end of March this year, bitmainland launched an ant miner X3 based on ASIC, which is mainly aimed at Monroe coin (XmR) and cryptonight algorithm dependent cryptocurrency. Monroe coin immediately issued a counter statement that it will change the core algorithm to fight against the invasion of ASIC computing power

what would be the result if it appeared in the world of digital cryptocurrency? That is, the wrong calculation results may be brought into the whole network without being discovered

More importantly, if a "calculator manufacturer" monopolizes the calculator market, it can also deliberately proce this kind of calculator with errors to change the mathematical rules

after all, the "calculation" in the field of crypto digital currency is not as simple as 1 + 2 + 3. You can't compare paper currency with special currency by hand

the practical significance of computing power monopoly in mainland China

we have learned about attacks based on 51% computing power in various articles

but the reality is that although the global power of 78% was in Chinese mainland, fortunately, they were scattered in different pools and controlled by different people. p>

although all POW based cryptocurrencies have the risk of being attacked by 51%, few people can really launch attacks e to the dispersion of computing power

but what if the miners themselves don't want to attack, but the mining machinery manufacturers attack

still using the analogy just now, although each miner subjectively wants to do the problem checking independently, their calculator is manipulated remotely and gives consistent wrong answers. This may pose a great threat to digital cryptocurrency

however, the manufacturer with the absolute voice of mining machinery had such a problem in mainland China

in April 2017, the back door of antbled came out. Although this is described as a "vulnerability" in Chinese, antbled is more like a function that has been implemented and designed

anonymous people found that after an ant miner made by bitmainland was connected to the network, it would communicate with a domain name held by bitmainland on a regular basis and return the miner's serial number, MAC address and IP address to bitmainland's server. If the server of bitcontinent gives a negative signal, the miner will stop running

although bitcontinental responded that they could not shut down any mining machines that did not belong to them. However, the bitcoin core team has proved in experiments that this function has no verification. Anyone can shut down mining machines by forging DNS - but it also means that bitcoin mainland has the ability to shut down any sold mining machines

After

, bitcontinent fixed this "loophole", but it caused heated discussion in the community. This has also set the tone that almost all pow blockchain communities are biased against mainland China

a few months later, under the leadership of bitcontinent, viabtc g out the first block and made a hard bifurcation with the blockchain of bitcoin. From then on, bitcoin BCH (bitcoin cash) appeared in the world

will the monopoly of mining machinery destroy the distributed system

facing this problem, we should have a clear answer now. That is, the monopoly of mining machinery will certainly affect the safe operation of pow digital cryptocurrency

the problem is not whether bitcontinental and its founder Wu Jihan are trustworthy, but that one of the values of any blockchain system is to operate safely without trust in any single company or indivial

even if the ASIC miner is not monopolized by bitmainland, the ASIC miner itself will increase the concentration of computing power

the ASIC used for mining has great requirements for ventilation, power and site, and has no use except for mining. At the same time, the calculation difficulty of the whole network is increased e to the powerful computing power

as a result, it is very difficult for external players to start mining in the next software on the computer as they did five years ago. And the recent centralized exchange is caused by frequent black incidents, which also proves that concentration in this unregulated market will definitely lead to insecurity

assuming that the bitcoin network runs on top of one million miners, no one can shut it down. And if the bitcoin network runs on 20 large mines, it's much easier to shut it down

and by the end of 2017, 78% of the effort was concentrated in mainland China, which led to a real possibility of Chinese mainland regulators' launching a deadly attack against the special currency. p>

moreover, most of the scenarios of using digital cryptocurrency are related to "decentralization". Once centralized, it means that these scenarios no longer exist. It turns a project that might have value into a pure waste of computing power

Then, what measures should we take in the face of this situation

first of all, as the project side, it may be time to give up the pure POW mechanism. In fact, in many projects of issuing cryptocurrency, especially in asset securitization projects. Similar to the concept of stock in the real world, POS itself is more reasonable than pow

in the media that don't know about blockchain, we often hear such words as "bitcoin wastes a lot of computing power and has no value", which is reasonable to some extent. It is difficult for a POW based blockchain to bind the value of the project itself to the issued digital cryptocurrency - because the real value behind the price of the currency does not come from the project, but from the cost of maintaining computing power

and the hybrid mode of pow + POS is more like the future. In the hybrid mode, both coin holders and miners can participate in the major decisions of this community. If a decision is widely accepted, the blockchain will be soft forked to the latest state without excessive intervention of developers, and there will be almost no private resistance of miners or mining machines

secondly, as a retail miner, if you are still digging a pure POW mechanism currency, you should unconditionally support the bifurcation activities initiated by the community to resist the ASIC mining machine, even if it will lead to the failure of your mining machine

this may sound contradictory, but in the long run, it is better to promote the reform of the community and get more benefits in a currency controlled by the monopoly of computing power. Because in many conflicts between computing power and community in the past, the ultimate result is that the computing power owner will forcibly keep the old algorithm to hard fork the blockchain

just like Eth and etc, the classic Ethereum (etc), which belongs to the computing power master, has lost the support of developers and become an air coin with no vitality and impossible to develop applications

as a retail leek, you should be careful to trade the non mainstream digital currencies (except bitcoin) supported by bitmainland mining machinery, so as to avoid falling into a blockchain in which bitmainland controls the computing power completely

finally, if you are bitcontinent, what should you do

bitcontinent's goal is to become Intel, AMD and NVIDIA, make greater contributions to the whole computer instry, and become a great company, not just entangled in the immediate interests of mining

Wall Street financiers have long seen through the violence brought about by NVIDIA's video card mining. The rise and fall of the company's stock price has been consistent with the price of bitcoin, and even affected by the digital currency market. Citron, a well-known short seller, has recently been bearish on NVIDIA, arguing that the company has focused too much on providing services for digital currency miners rather than on serious businesses such as artificial intelligence, games and driverless driving

the mission of chip manufacturers is to provide more powerful chips to drive more intelligent services, and finally contribute to the real world, rather than become monopoly tycoons in the virtual world. When we no longer enter the gate of the virtual world, the only thing left is a deserted land

in an interview with US media last year, Wu Jihan disclosed that he would make an IPO with a market value of billions of dollars. As a company about to go public, bitmainland should not only be responsible to investors, but also accept investors' questions about the sustainability of its business. "If your mining machinery goes public, it will encounter a fork, what should you do?"

and this question, which needs to be asked after the listing, has already appeared: the current price of the split coin xmo after the Monroe team split is $7.50, while the current price of the real Monroe coin XmR is $194, and the split coin is completely abandoned by the Monroe community

before bitcontinent becomes the name of all blockchain communities, we can rely on the huge amount of capital accumulated in recent years to transform into an artificial intelligence chip company along the previous plan, rather than continue to develop a variety of digital currency mining machines to extract the last drop of oil before the ecological collapse

content source: phoenix.com

6.

See a lot of people selling bitcoin mining machines, why don't they go mining? Do they make more money selling machines than digging bitcoin

On the gold road, the most profitable is the ticket. Those who dig money are all gold miners. Mining machine manufacturers are those who sell water and shovels on the way to gold mining. The so-called saying is that they have heard the news one after another, and they specialize in the technology instry. It's OK to do a good job in their own specialty. They can't earn any money

the purpose of enterprises is to make money. Since selling mining machines can make money, why should they be involved in the mining instry. Wu Jihan in mainland China is worth tens of billions of yuan only by selling mining machines, and he is engaged in large-scale mining in many countries. It's also very limited. Since selling equipment can make money, why do you have to mine

another example is the e-commerce instry. I don't know whether it makes money or not, but I know that agent operation must make a lot of money. Now the hot small program, businesses through small programs to earn money, I do not know, but those who help develop small programs companies must make money

7. The fraud of exploiting the base chain layer by layer and preventing the second fraud of the king of base chain 2.
the people who search this article are either prepared to start with the base chain under the introction of friends, or they have been trapped for a long time and still believe that the base chain will be removed. Now I'll see the hypocrisy mask of stripping the base chain layer by layer. Please listen to me.
let's start with the coin, For those new friends who have not started or are preparing to start, please pay attention not to look at the official propaganda mechanism one sidedly. There is a certain limit for the number of mining machines each quarter. Let me tell you in detail how much money a mining machine can proce, I take the 800m large mining machine with the highest revenue on the platform as an example to analyze: buying
800m mining machine needs 800 base chains (hereinafter referred to as coins),
800m mining machine generates 16 coins, 16 * 50 days = 800,
50 days return coins. Note that 50 days return currency is not return capital, and the price fluctuation is not constant. Now, the price of most quilt covers is 27.5 yuan / coin, The price of a miner is 800 * 27.5 = 22000 yuan, which is 22000 yuan per miner,
the first ideal optimistic algorithm: regardless of the price fluctuation of currency, take 27.5 yuan per day as the calculation, and see how much money a miner can proce and sell; First of all, a large miner returns coins in 50 days. Has anyone asked how to proce coins in 50 days? The official did not publicize it directly. The official focus is to proce 16 coins a day.
the miner can mine for 10 years. After 50 days, the mining capacity will decrease. At the beginning, there was no publicity about the decrease. Only ring the 5.1 holiday can the top management say that the decrease is 1% every day. Yes, it's 1%. I have a screenshot in my hand, and the decrease starts from the fifth day and the eleventh day. At this time, the company has a clear statement that the calculation power will decrease, but on the 6th, the company's calculation power will decrease, Do you know what it means to rece the decrease to 10% without any notice? With a decrease of 1%, a large miner can proce about 2000
coins. However, with a decrease of 10%, a large miner can only proce 940 coins, and without 800 local currencies, there is little left. Don't be too optimistic. People who are covered are all in the latter category. Can we still earn more than 140
coins? The answer is No. the coin is sold, and there is a service charge for submitting the coin to the exchange. At the beginning, the company charged 5%, that is, there are only 95 coins left after 100 coins are mentioned on the platform. The service charge is very high. A new regulation was issued on June 9, when the service charge rose to 10%, and only 90 coins were withdrawn to the account, On the contrary, the handling charge goes up, and the speed is even slower. In the past, the withdrawal of money on the same day basically arrived on the same day, but now it arrived the next day or even the third day. For the moment,
is the remaining 140 odd coins profitable? No, if the handling charge for withdrawing money to the exchange is 940, after decting
10%, there are only 846 pieces left. After removing 800 pieces, only 46 pieces are your profits. Do you understand this simple principle? I bought a large mining machine with 22000 yuan, and the profit was only 46 yuan. This is not considering the price factor.
under the ideal condition, after 80 days, only 46 yuan made a profit. This is definitely not a huge profit, but a small profit. The investment is a high-risk investment with a large base and a return rate of less than 5%
the second practical algorithm: according to the actual price of the exchange, the price of the base chain is actually lower than that of the internal quotation. When the internal quotation is
27.5 yuan, the price of the exchange is only about 23. Now all the base chains are traded in the exchange
, which can only be calculated according to the actual price. The price of the exchange is basically between 4-5 yuan, let's calculate it as 5 yuan,
the total price of 846 basic chains is 846 * 5 = 4230. The cost of the quilt cover is below 5000 yuan, and a miner will earn more than 17000 yuan.
don't listen to the idiots who only go up but don't go down. I did it for speculation, but I didn't expect that stealing chicken won't be a loss
then peel off the company's publicity layer by layer:
[advantages of base chain]
1. Scenario application of blockchain technology
the world's first community platform using blockchain technology and artificial intelligence application scenario
(short words, no practical application value)
2. High yield of currency, investment opportunities
large number of base chains issued in the first stage, Low investment cost
(the output is normal ring the currency return period, the 10% calculation power decreases rapidly after the currency return, the investment cost is too high, and the return is too low)
3. The model is superior, and the market drives the return greatly
the perfect large range system has formed a good market driving force and win-win mechanism
(this co win mechanism changed the market on May 15, in addition to the profit driving against conscience, The rest are the ones that are bad friends, bad relatives and friends, and those who believe in you)
4. International market trading
U.S. Pacific Rim trading center, global issuance
(this exchange is a third rate exchange, equivalent to the innovative version of stocks, with only 10 currencies trading, and Jiji was almost taken off the shelf when it was 5.20 left
right, Cancel the exchange)
5. Global launch
in February 2018, the global launch, issued 200 million pieces in constant volume, divided into three stages, 10 years to complete the distribution
(this is more
a cover, currency issuance is not controlled)
[project investment]
(the following is the official introction, only said that the computational power will be reced, did not specify how much to rece, from the current point of view
, the miner is broken, If the output is reced by 10% every day,
investment 3000 yuan / set - 150 m of mining machinery - output 1 / day - return cycle about 150 days
investment 10000 yuan / set - 500 m of mining machinery - output 5 / day - return cycle about 100 days
investment 16000 yuan / set - 800 m of mining machinery - output 16 / day - return cycle about 50 days
- base chain output changes with the market and time, The number of base chains will graally decrease
[dynamic income]: (the extremely poor income publicized below was also changed on May 15. This is the most secret way to attract attention and cheat to get
gold. I have 500 base chains with long deposit and 200 base chains with gold diamond in a gold community, which is locked in when the price is the highest, It is equivalent to about 19000)
there is no direct push, confrontation, meeting point, management, etc., but only very poor income
Description:
1. The recommended revenue is the percentage of ore = the base chain output of the recommended person * the corresponding level
2. The ore exchange ratio is the power value of the miner
3. Except for the mining machinery of the community leader who enjoys
4 times of income, the mining machinery of other levels will be scrapped if they get 2 times of income, which needs to be activated
(the following is the initial range reference, which has been changed after 5.15, please refer to the new range policy, which means to promote
, vigorously develop offline to get ore reward, which is equivalent to pyramid selling, making an air coin to cheat relatives and friends)
[1] ordinary
1, recommend 1 person, level 1 income
2, profit sharing range 30%,
[2] blue collar
1, recommend 2 people, Level 2 income
2, profit margin 90%, 70%
[3] white collar
1, recommend 3 people, level 4 income
2, profit margin 90%, 70%, 50%, 40%
[4] golden collar
1, recommend 4 people, level 5 income
2, profit margin 90%, 70%, 50%, 40%, 40%
[5] golden diamond
, recommend 6 people, level 7 income
2, profit margin 90%, 70%, 50%, 40%, 30% [6] community leader
1. Recommend 7 people, 10 level income
2. The range of profit distribution is 90%, 70%, 50%, 40%, 40%, 30%,
30%, 20%, 20%, 20%
and then talk about his characteristics:
1. Decentralization [this is pure deception, which shows three aspects: 1) change the sugar and fruit policy as soon as it is changed; 2) If the handling charge increases, it will increase; 3) These are all controlled by the community, which is to be the center, not the company center.
I'll slowly add the others.
next, I'll talk about the return of the King 2, why launch the large mining machine:
on the 18th, it came out that the sales of mining machines were booming, and all the mining machines in the four quarters were sold out, The main points are as follows:
1. In the early stage, the company had too much money, the national policy was tightened, the leadership was afraid of accidents, there were too many base chains in the market, and the high price could not work at all. In the case of quick return of capital, there were few people who paid high price, but many people who paid back capital. In the old saying, the income could not make ends meet, which has reached a high point. Further promotion has no value and can only be suppressed by low price, At this time, those who know the news will run fast, and those who lag behind will be caught. Even many people are about to collapse and still don't know how to trade on the exchange
2. What should we do if there are too many coins on the market? The company recycles them at a low price, and the relative cost is too high. It's an air currency in itself. It's not a long-term plan to use money to recover and stabilize the market. We can only think of using bigger mining machines to hedge the market. What is mining machine? In fact, it's just a small program. It has no value, and it can hedge your money. Why not
3. When the market is in a downturn and the exchange price drops to about 2 yuan, if you want to maintain the second sum of money in the market circle, you can only artificially raise the price and hedge with big mining machines. People who don't know the truth always think that the company is actively working. One year's mining machines are sold out, and you sell big mining machines again. The original propaganda is bullshit. How can you dig so much money for you? Use your brain to think about it, It's gone in less than ten years. I'm still daydreaming about robots
what I want to buy a large miner now is ore hedging. I'm afraid you can't get back the basic chain you put in
I won't elaborate on the other features. I'll update them another day

8. The main difference between the two is that the function of the latter is increased, and it is relatively more powerful and more effective.