Difficulty of pit mining

1.

Mine pool refers to:

as the computing level of the whole bitcoin network continues to rise exponentially, a single device or a small amount of computing power can not get the block reward provided by the bitcoin network on the bitcoin network

after the computing power of the whole network has been improved to a certain extent, the low probability of getting rewards has prompted some geeks on "bitcoin talk" to develop a method that can combine a small amount of computing power and operate jointly, and the website established in this way is called "mine pool"

extended data:

the existence of the mine pool reces the difficulty of bitcoin and other virtual digital currency mining, reces the mining threshold, and truly realizes the bitcoin mining concept that everyone can participate in

but its disadvantages are also very obvious, because computing power is connected to the mine pool. As a mine pool, it will have huge computing power resources. In the bitcoin world, computing power represents the bookkeeping right, and computing power is everything. If the computing power of a single mine pool reaches more than 50%, it will be easy to launch 51% attacks against virtual digital currencies such as bitcoin, The consequences are very terrible:

the mine pool can make the mine pool with 49% of the remaining computing power have no harvest, instantly quit the competition and go bankrupt. The mine pool's computing power exceeds 50%. If 51% attack is launched, it will easily occupy all the effective computing power of the whole network

2.

Mining is perhaps one of the most important components of the bitcoin ecosystem. Miners need to solve complex mathematical problems, so as to ensure the smooth implementation of the transaction. These problems are so complex that they are difficult to solve even for extremely powerful computers. Computers need work and luck to solve these mathematical problems, just as miners dig underground. The chance of solving this problem correctly is about one in 13 trillion

bitcoin mining has two purposes. Firstly, by solving mathematical problems, bitcoin miners can verify the transaction information, so as to ensure the security and reliability of bitcoin payment network. Miners are the people who ensure that transactions are accurate and that there is no "double payment."

Secondly, when the computer solves these complex mathematical problems on the bitcoin network, the system will generate new bitcoin, which is similar to the process of mining gold from the ground. The reward is called "block reward", and after the event called "halving", its amount will be periodically halved. The newly discovered concept of bitcoin is an important part of bitcoin protocol. The bitcoin obtained by the miners is brand new and has never been in circulation before

since miners will eventually sell the bitcoin, it is also an important source of supply and liquidity. As chainalysis reports, many digital currency exchanges rely on miners to receive bitcoin and increase their liquidity. Typically, exchanges get about 88% of bitcoin from other exchanges, and bitcoin miners are the largest source of the remaining percentage. As you can imagine, there is fierce competition between exchanges to receive bitcoin directly from miners

further enlarge the map, most of the mining activities are only carried out in four provinces, the first two provinces are Xinjiang and Sichuan, accounting for nearly half of all bitcoin mining in China. Electricity prices are cheap and the weather is cold in these areas. This helps to keep mining profits and equipment cool ring the 24 / 7 operation and maintenance period of bitcoin mining

but this is nothing new for digital currency issuance. For many years, China has been a major market for bitcoin miners e to its cheap electricity and abundant resources. Bitmain, f2pool and Canaan are all located in China

whether this is a negative or positive message depends on your point of view. But for decentralized, distributed, unlicensed networks, geographic regions across multiple entities are more healthy for the entire ecosystem

3. At present, with the increase in the number of people mining in various currencies, the difficulty is also increasing. If you mine with a single computer, the possibility of digging out a block is relatively small. Take BTC for example, it is very likely that you will find one in half a year; If you connect your own miner to the mine pool, you can ensure that you have a basic income every day, which is relatively stable for miners. The premise is to select a suitable ore pool according to different currencies. Generally speaking, the current mining pools: ant mining pool, fish mining pool, coin printing mining pool, viabtc, flypool are all pretty good

4. The difficulty of mining will become more and more difficult with the decrease of quantity and the passage of time. For example, Gehua chain routing bar has sold 3000 reservation codes in advance, and only those who get the reservation codes can buy them. The mining pool started on March 31, and only 3000 people scrambled for those coins. The more difficult it is to dig the later coins, the higher the price of Gehua coins, so the more people who come first earn.

5. Mining is actually competing for the right to pack in the block
as tens of thousands of miners compete for the right to pack, the probability of a single miner seizing the right to pack is very small, and the output is very unstable. It is possible to grab the right once an hour or not once a year
in order to stabilize the mining output, miners often choose to join the mining pool. The mining pool integrates the computing power of a large number of miners and occupies a certain share in the total computing power of the whole network, so as to obtain a more stable mining output. After charging 2% ~ 4% of the pool handling charge, the output is distributed to the miners according to the miners' computing power
it's just like that it's hard for one person to win the lottery, so the mine pool organizes many people to buy the lottery together, and after winning the lottery, they are distributed to everyone according to the amount of contribution.

6. The computing power and block output of the whole network can reach taobit http://www.taobtc.net/ See
1. First of all, as a node mine pool, the mine pool construction itself needs to add node files, showing the number of connections below the bitcoin wallet. After adding nodes, the number of connections can reach dozens or even more, depending on how many nodes you add, effectively recing invalid shares
2. How to fix the calculation difficulty of mining equipment for miners? Set it in your mining equipment startup bat
for example, if your single mining equipment is 10g, you can add / 1000 + 10 after the user name (wallet address) in the bat file. For example, in my bat - / 1000 + 10-p1, what does that mean? This means that your equipment is 10g computing power, and you use a fixed difficulty of 10g in p2pool mining. If you are a 1g device, write / 1000 + 1 at the back, so the difficulty is fixed and the efficiency of the device is effectively improved.

7. Upstairs is really pull, or network administrator know, even everywhere to answer. The home computer can dig out a bitcoin in three months. I don't know when it was

at present, the global unified computing difficulty of bitcoin is 2621404453 (expected to change in two days). It takes more than 2000 years for a 2.5GHz CPU to work out a bitcoin.

8. The computing power and block output of the whole network can be found in
http://www.taobtc.net/
look at
1. First of all, as a node mine pool, the mine pool construction itself needs to add node files, which show the number of connections under the bitcoin wallet. After adding nodes, the number of connections can reach dozens or even more, depending on how many nodes you add, effectively recing invalid share
2. How to fix the calculation difficulty of mining equipment for miners? Set it in your mining equipment startup bat
for example, if your single mining equipment is 10g, you can add
/ 1000 + 10 after the user name (wallet address) in the bat file. For example,
- U
/ 1000 + 10
- P
1 in my bat, what does that mean? That is to say, your device is 10g computing power, and you use a fixed difficulty of 10G for mining in P2P pool. If you are a 1g device, write / 1000 + 1 at the back, so the difficulty is fixed and the efficiency of the device is effectively improved.

9. At present, the computing power of P2P pool nodes in the whole network is about 20t, but the actual utilization rate is only 10-15t, which wastes a lot of computing power
the computing power and block output of the whole network can be seen here http://www.taobtc.net/
a lot of computing power is wasted. The reason for this is also from the structure of the P2P pool. The P2P pool node will automatically adjust the difficulty of the pool according to the computing power of the workers' mining equipment. This process is quite fast, and the difficulty will be adjusted every few minutes, As a result, the mining equipment is easy to report errors, that is, it generates a lot of R, which reces the efficiency. The P2P pool is a PPLNs mode. You need to submit an effective share to get profit. After submitting an effective share, you can get all the blocks generated within 24 hours. The difficulty of effective share is relatively large. What I reflected in my pool is that 1g of computing power can't dig effective share at all
how to improve the efficiency of P2P pool

1. First of all, as a node mine pool, the mine pool construction itself needs to add node files, showing the number of connections under the bitcoin wallet. After adding nodes, the number of connections can reach dozens or even more, depending on how many nodes you add, effectively recing invalid share
2. How to fix the calculation difficulty of mining equipment for miners? Set it in your mining equipment startup bat
for example, if your single mining equipment is 10g, you can add
/ 1000 + 10 after the user name (wallet address) in the bat file. For example,
- U
/ 1000 + 10
- P
1 in my bat, what does that mean? That is to say, your device is 10g computing power, and you use a fixed difficulty of 10G for mining in P2P pool. If you are a 1g device, write / 1000 + 1 at the back, so the difficulty is fixed and the efficiency of the device is effectively improved.