Virtual currency mining self inspection report

1.

mining is a nickname for the exploration method of acquiring bitcoin. Because of its working principle is very similar to mining minerals, so named. In addition, bitcoin explorers who do mining work are also known as miners

bitcoin network generates new bitcoin through "mining". In essence, the so-called "mining" is to use computers to solve a complex mathematical problem to ensure the consistency of bitcoin network distributed accounting system

bitcoin network will automatically adjust the difficulty of mathematical problems, so that the whole network can get a qualified answer about every 10 minutes

then the bitcoin network will generate a certain amount of bitcoin as a reward to reward the person who gets the answer

extended data:

to be a miner, just "mine" bitcoin and search for 64 bit numbers by computer. By repeatedly decrypting with a computer, it competes with other gold miners to provide the number needed for the bitcoin network

if the computer can successfully create a set of numbers, it will get 25 bitcoins. Bitcoin is decentralized. It needs to create a fixed number of bitcoins per unit of computing time. It can get 25 bitcoins every 10 minutes

by 2140, the upper limit of bitcoin in circulation will reach 21 million. In other words, bitcoin system can be self-sufficient, which can be translated into coding to resist inflation and prevent others from sabotaging< br />

2. Qwertycoin, which has been popular recently, was built by the geek team in Germany for 18 months. It is a secure anonymous coin that focuses on privacy and is used for global
secure payment. Qwc has no pre excavation and ICO, and adopts cryptonight algorithm (supporting mainstream mining machine X3 and A8 +) POW mining.

3. At present, bitcoin is the only reliable virtual currency. Bitcoin is a kind of virtual currency generated by the corresponding algorithm, which needs to use a large number of mining machines, that is, servers for mining. At present, only the virtual currency issued by the central bank is legal in our country, and the others are illegal
I hope I can help you. Thank you for your adoption.

4. The mining of virtual currency is a process of using computer hardware to do mathematical calculation for virtual currency network to confirm transactions and improve security. As a reward for their service, miners can get the Commission included in the transaction they confirm, as well as the newly created virtual currency. Mining is a professional and competitive market. The bonus is divided according to the amount of calculation
however, some Shanzhai coins are purely tools for developers and users to earn money. There are two main ways to make money by using virtual coins: one is mining. For example, if you want to obtain bitcoin, you must use a professional ASIC miner to mine (Avalon miner), and the bitcoin obtained from mining can be traded on the trading platform; The other is trading on the trading platform and making money by using the price difference

5. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

warm tips:
1. The above information is for reference only, without any suggestions
2. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
response time: February 2, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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6. Bitcoin, Ethereum, chitcoin, dogcoin, eco and RCO can all mine. If you can mine with ordinary desktop and notebook computers, then eco and RCO are more powerful

7. 1. Digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy

2. Digital currency is a kind of unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of specific virtual communities. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form
response time: January 4, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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8. Mining is the most primitive "exploration method" to obtain digital currency. In essence, it is to solve a complex mathematical problem with computer. If blockchain is compared to a large account book, the block in which is a page in the account book, and all miners are bookkeepers, the process of mining is bookkeeping, and also to maintain the normal operation of the whole network
the process of mining is very simple. Take bitcoin as an example. Every 10 minutes, all the miners work out a math problem together. Whoever works out the answer first is equivalent to digging this block and getting the corresponding bitcoin as a reward. Mining equipment is the first to use computers. With the rising price of bitcoin, more and more people participate in mining. CPU mining has graally turned into a professional graphics card. In recent years, it has become a specific mining machine. This evolution is e to the problem of computing power. As I said just now, mining means "all miners work out a mathematical problem together." the higher the computing power, the stronger the hardware computing power and the faster the speed. Suppose that the computing power of the computer is 1, the computing power of the graphics card is 5, and the computing power of the mining machine is 100, then the mining efficiency of the mining machine is 100 times that of the computer, It's almost impossible for computers and mining machines to dig bitcoin together

warm tips: investment has risks, so we should be cautious in choosing. According to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by the monetary authority, does not have monetary attributes such as legal compensation and compulsion, is not a real currency, does not have the same legal status as currency, and cannot and should not be used as currency in the market, Citizens' investment and transaction of virtual currency are not protected by law
response time: April 2, 2021. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html