Mining in China

1. Erdos, 560 kilometers west of Beijing, is covered with hot waves and sandstorms. The gate is a dividing line, separating the two worlds. Outside the gate is a typical landscape of China's fourth tier Urban Development Zone, while inside the gate is a science fiction scene like the matrix. Eight large factories with blue roofs are juxtaposed. Tens of thousands of "mining machines" are flashing red and green light and roaring in the factory, making digital currency bitcoin for this "mine" day and night. This once the world's largest mine holds about 4% of the computing power (proction capacity) in the bitcoin world. During the peak period, it can dig out more than 100000 bitcoins a year, which is worth more than 3 billion RMB at the price of 30000 RMB in August 2017.
bitcoin was invented by "Zhongben cong" in 2009, Using the computing power of the chip, the boring and repetitive process of constantly "hash collision" in the blocks generated by the bitcoin system to win the bookkeeping right and thus obtain the system reward of bitcoin is vividly called "mining" in the bitcoin instry, and the professional staff engaged in this work are called "in the first few years of bitcoin operation, An ordinary laptop can play the role of "mining". However, the entry of Chinese miners has completely broken the balance of this situation. Relying on professional mining machines designed and made in China, they staged one after another bitcoin world computing power arms race, raising the threshold of "mining" tens of thousands of times

2. At present, bitcoin mining still exists in China, but e to the stricter regulatory policies, many miners have left. Because it may be difficult to make money in the future.

3. This is the current school of mining engineering in China, Among them, the best is China University of mining and technology:
[Chongqing] Chongqing University [Shandong] Shandong University of science and technology
[Liaoning] Northeast University [Hubei] Wuhan University of technology
[Yunnan] Kunming University of science and technology [Jiangsu] China University of mining and technology
[Sichuan] Southwest University of science and technology [Shanxi] Taiyuan University of technology
[Fujian] Fuzhou University [Beijing] North China University of science and technology
[Anhui] Anhui University of science and technology University [Guizhou] Guizhou University
[Beijing] China University of Geosciences (Beijing) [Heilongjiang] Heilongjiang College of science and technology
[Beijing] China University of mining and Technology (Beijing) [Shandong] Shandong University of science and technology Taishan College of science and technology
[Inner Mongolia] Hulunbeier College

4.

Bitcoin mining is illegal in China

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

since September 4, 2017, China has expressed its opposition to the virtual currency exchange

on the market, the large-scale exchanges are graally fading out of the domestic market, some of them are going to Japan and some of them are going to Nanyang. Of course, with the release of the new regulations in Hong Kong in early November, we believe that the virtual currency exchange may obtain a legal license in Hong Kong in the future to serve the local institutional investors

extended information:

bitcoin China said that the platform would stop withdrawing cash at 12:00 noon on that day. So far, bitcoin China has closed all trading functions. Yesterday, the other two major bitcoin trading platforms in China, huocoin.com and okcoin, also stopped trading all digital assets against RMB

since the beginning of this year, the virtual currency represented by bitcoin has soared, attracting a large number of ordinary people without any technology and investment knowledge to enter this high-risk market

on September 4, the central bank, together with many ministries and commissions, issued the announcement on preventing the risks of token issuance and financing (hereinafter referred to as the announcement), which pointed out that no organization or indivial may illegally engage in token issuance and financing activities According to the announcement, all kinds of token issuance and financing activities should be stopped immediately from the date of issue

the organizations and indivials that have completed the token issuance financing should make arrangements such as liquidation, reasonably protect the rights and interests of investors, and properly handle the risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects

on September 13, the China Internet Finance Association issued "tips on preventing the risks of bitcoin and other so-called" virtual currencies ", pointing out that bitcoin trading platform is a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities e to the expanding number of stakeholders and strong speculative atmosphere; There is no legal basis for the establishment of various so-called "currency" trading platforms in China

5. South Africa is the largest gold depositor in the world. Did you know that gold is rare and scattered in the earth's crust, with an average of 5 parts per billion, or 5 mg per ton. At present, the foreign gold reserves with mining value are no more than 31000 tons. South Africa is endowed with unique advantages, accounting for 60-65% of the world's reserves, becoming the world's largest depositor. Gold deposits in South Africa are mainly distributed in the Valle River Basin, a tributary of the Orange River. They are roughly semicircular and extend for 500 kilometers, known as "gold arc". In addition, South Africa has one of the world's largest refineries, the RAND refinery. Located in a compound in the town of Jameston, a suburb of Johannesburg, it is run by the mining Federation, a coalition of South Africa's seven largest mining institutions. All gold mined in South Africa is smelted by the plant, with an annual processing capacity of 750 tons, accounting for 70% of the gold proction in the capitalist world.

6. Northeast: Anshan, Benxi; Hebei: Tangshan, Handan; Southwest: Panhua, Xichang; Northwest: Jiuquan, Gansu Province; Zhongnan: Wuhan, etc

7.

Mining is the use of bitcoin mining machine, which is used to earn bitcoin

one of the ways to get bitcoin is that users download software from personal computer and then run specific algorithm to get corresponding bitcoin after communicating with remote server

bitcoin is a kind of virtual currency. Bitcoin mining system is the process of carrying out mathematical operation for bitcoin network through computer hardware. Miners who provide services can get a reward, because the network reward is calculated according to the tasks completed by miners, so the competition for mining is very fierce

mining is actually a competition of performance and equipment. The mining machine composed of many graphics cards, even if it's only hd6770, can surpass the single graphics card of most users

and this is not the most terrible. Some mining machines are made up of more such graphics card arrays. When dozens or even hundreds of graphics cards come together, the graphics card itself costs money. Considering the hardware price and other costs, there is a considerable expenditure in mining

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bitcoin mining process:

1. To find the ore pool

to start mining, there must be a ore pool with convenient operation and stable output. Its function is to subdivide the data packets for each terminal, and pay the corresponding amount of bitcoin according to the proportion of the data packets calculated by the terminal through precise algorithm

2. Download bitcoin miner (software)

in fact, there are many kinds of this miner, you can go to the official website to download

3. Setting mining software is a green software. After installation, we can set the language first to facilitate further setting. Next, you need to set the server, user name, password, equipment and so on. Generally, the server chooses a better network from BTC guide series, and the user name and password are set by ourselves before

4, bitcoin mining start

when we confirm that all settings are correct, click the "start mining" button to start bitcoin mining, and then the graphics card will soon enter the full speed running state, the temperature and fan speed will increase, you can monitor the state through gpu-z or graphics card driver

8.

On January 16, it was reported that pan Gongsheng, vice governor of the people's Bank of China, believed that centralized trading of virtual currency should be prohibited, and that indivials and enterprises should be prohibited from providing related services, according to an internal meeting minutes

Pan Gongsheng said that the state and local governments should seize the places that provide centralized transactions for virtual currency, and bitcoin is the largest virtual currency. They should also ban indivials and institutions, such as online "wallet" service providers, that provide market making, guarantee and clearing services for centralized transactions in such currencies

China has become the world's largest source of cryptocurrency mining , but pan Gongsheng said that the government should take measures to prohibit such behavior. He suggested that local governments use electricity price adjustment, land use, taxation and environmental protection measures to guide enterprises engaged in such activities to "exit orderly"

9. Over the past 20 years, the three mining areas of COMRA have been mainly organized and carried out around the implementation of the "prospecting and exploration contract for polymetallic noles in the area", "prospecting and exploration contract for polymetallic crusts in the area" and "prospecting and exploration contract for polymetallic sulphides in the area" signed by COMRA and the International Seabed Authority, As of 2016, more than 40 voyages have been organized and implemented; The contract of China's Minmetals mining area is expected to be signed in 2017 and has not yet entered the stage of organization and implementation. Limited by the scarcity of deep-sea resources, none of the four mining areas in China's international seabed area has completed the evaluation of mining resources and abandoned the "area". China's first polymetallic nole exploration mining area obtained in 2001 has applied to the International Seabed Authority for extension in 2016, The polymetallic sulfide mining area obtained in 2011 is expected to submit the application for resource assessment and "area" abandonment to the International Seabed Authority as soon as 2019.