How to deal with mining

1. As a blockchain researcher, many new people often ask this question. In fact, there are two main ways to invest in bitcoin. The first is to buy bitcoin directly from the corresponding digital currency exchange; The second is to mine for bitcoin

first of all, mining is the main way to obtain bitcoin, but the current threshold of mining is relatively high. If you choose to mine by yourself, first you need to understand certain technology, then download the bitcoin client and mine by yourself according to the online bitcoin mining tutorial
however, in theory, bitcoin can still be mined with computers or graphics cards. However, e to the development of mining instry in recent years, the whole network computing power of bitcoin is extremely terrible (more than supercomputers), so if you want to mine with computers or graphics cards, you can't find bitcoin, If you want to dig bitcoin, you still need to buy mining machines. Now the better mainstream mining machines in the market have to be tens of thousands. Of course, there are cheap second-hand mining machines, but these second-hand mining machines are all obsolete ones, and the electricity cost of mining is relatively high

in addition to the second way of direct purchase, the digital currency exchange is a special place for bitcoin trading. If you want to own a bitcoin, you can buy it directly with money. However, it should be noted that there are many digital currency exchanges in the market at present. Many small exchanges are specialized in cutting users and eating customer losses for a living. Therefore, when choosing an exchange, it is better to focus on the head exchange. For example, Hufu, one of the head exchanges in China, I have been using it for nearly two years, and it is very stable and safe.

2.

"Transaction is mining" is a typical platform operation mode. Users mine through transactions. Some platforms will issue their own tokens as rewards for users' trading behavior

Relevant introction:

in June 2018, the cryptocurrency exchange fcoin put forward the concept of "trading is mining", and in a short period of time, the daily trading volume rose to the first in the world, triggering a war between exchanges

"transaction is mining" is actually a return mechanism of personal transaction fees based on platform currency. Strictly speaking, there were similar playing methods before the establishment of fcoin. For example, bibox had a mechanism to return a certain proportion of fee income to platform currency holders

extended data

fcoin's "transaction is mining" is repackaged. Following the allocation rules of bitcoin mining, 51% of platform currency ft is taken as the mining reward pool. Through "mining (trading on fcoin)", FT is graally unlocked. Once 51% of FT is fully fed back, "mining" is automatically terminated

in terms of specific implementation, fcoin trading means mining starts at 0 o'clock every day (GMT + 8), and the transaction fees generated by users will be converted into ft for accumulation every hour. The conversion price is calculated according to the average price of FT in that hour (the average price is calculated as total transaction amount / total trading volume)

3. "Mining" in the blockchain is the process of bookkeeping. You can purchase computing power equipment, that is, "mining machine", to "mine" and get bookkeeping rewards
however, with the increasingly fierce competition in bookkeeping and the graal rise of dpos, ordinary computing power equipment has been unable to meet the needs of mining
it is necessary to purchase more professional mining machines or join large mines. Therefore, the threshold of mining is slightly higher
where there is demand, there is market
e to the increasing market demand for professional mining machinery, more and more chip enterprises increase investment in chip R & D, and start to develop mining machinery with higher computing power and lower energy consumption, so as to earn profits
when the currency price rose sharply in 2017, this kind of mining machinery was in short supply
as the level of computing power in the whole network is getting higher and higher, it is difficult for a single miner to seize the bookkeeping right and obtain bookkeeping rewards. Therefore, the way of combining a small amount of computing power and joint operation arises at the historic moment to improve the competitiveness of bookkeeping
the website established in this way is called "mine pool"
the profit model of the mine pool is to charge the handling charge. The more people participate in the mine pool, the higher the proportion of handling charge, the higher the income of the mine pool company
blockchain is the core supporting technology of digital cryptocurrency system represented by bitcoin. The core advantage of blockchain technology is decentralization. It can realize point-to-point transaction, coordination and cooperation based on decentralized credit in a distributed system without mutual trust by means of data encryption, time stamp, distributed consensus and economic incentive, so as to solve the common high cost, low cost and low cost of centralized institutions Low efficiency and data storage insecurity provide solutions
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

4. Yes, this is to use bitcoin "exchange" to move money
(1) bitcoin has the natural feature of "exchange", and investors can realize the exit of RMB funds through "exchange currency". The so-called "currency exchange" refers to the transfer of bitcoin from one trading platform to another, and then sell and obtain foreign exchange through this platform
(2) at present, the three major bitcoin trading platforms in China all provide "currency exchange" services. As long as investors submit an application for "exchange currency" to the platform, and the receiver confirms the acceptance, it will take as fast as 10 minutes and as slow as 1-2 hours. Without the approval of regulatory authorities or financial institutions, bitcoin can reach overseas bitcoin platforms across national boundaries
(3) then, investors can sell bitcoin on the overseas bitcoin platform to obtain US dollar, euro and other funds and withdraw cash.

5. Go to the YEx platform to register and trade, and you can mine
let's see what others say.

6. When dealing with mining, the first one is the return of handling charge, and the second one is the dividend of transaction currency. 98% of the handling fee is returned in the form of platform currency, and the holder can also get 50% of the daily transaction handling fee dividends.

7. 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
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