There is basically no limit to the mining in the past few years. As long as you have the basic equipment, you can start mining. As Bitcoin prices soared, mining competition became more and more fierce. Mining experienced a process from CPU -> GPU -> FPGA -> ASIC, and the device was updated faster and faster. In the creation stage, a laptop can dig up Bitcoin. The number of people entering the game increases, the speed of the notebook can’t keep up, and it is replaced with a professional game notebook. Later, a specially designed mining machine appeared. From the very beginning. Thousands of mining equipment to tens of thousands of mining machines. Not only the equipment changes, but also the scale has gradually expanded, from the first one or two notebooks to the later small mining machine workshop mode to a large-scale mine mining era.
As the basis for maintaining the operation of the blockchain network, the mining machine has three functions: one is to issue new circulating Bitcoin currency; the other is to confirm the transaction and bookkeeping; the third is to obtain the cryptocurrency reward through the workload proof mechanism, and let the Bitcoin The books cannot be tampered with by humans. In the initial stage, fifty Bitcoins can be produced in about every ten minutes. But the reward is cut in half every four years, so Bitcoin is now more and more difficult to dig.
After 2018, Bitcoin prices continued to slump, and government regulation tightened, many small mine owners began to leave, big mine owners are also preparing to transfer to cheaper places abroad, the entire mine has been affected The bigger impact is also considering what to do next.
In 17 years, the government began to regulate the cryptocurrency market, and the mining business was also affected. However, in the early stage, everyone still had a bit of luck. It is not illegal to mine. It is possible that it may be illegal. The only controversial thing is to use electricity.
A grid worker: ‘In fact, it is difficult to define the mining power. The power company only manages the electricity usage on the grid, but the Bitcoin mine is directly used by the hydropower station and does not require Internet access. So the grid company has no authority to govern. The mine now belongs to a blank area.’
A local official said: ‘Government supervision is mainly aimed at the financing business and leveraged trading of the trading platform, but the mining behavior can only be calculated as a program, so the impact of supervision is not great.’
Under this trend, many mines are still in operation, but by the beginning of the 18th, the country suddenly issued a notice on rectifying the illegal mines which are a sad Bitcoin news to miners. Many people who have the idea of mining and getting rich have dreamed of breaking.
It is not unreasonable for the state to strengthen supervision. As we all know, the cost of mining is mainly from electricity. The common mining machine consumes 1400W per hour and consumes 33.6 kWh per day. Take the more popular Bitian S9i mining machine as an example. The price of this 3,350 yuan mining machine is about 20 yuan per day. The Bitcoin income of one day is about 22 yuan. It takes 230 days to calculate according to this income. Can return to this. In order to reduce costs and increase profits, many mine owners began to look for cheap electricity, stealing electricity, stealing electricity and other wonderful ways, which is undoubtedly a waste of public resources for their own use.
The mining cost is getting higher and higher, the government supervision is getting stricter, and where is the way out for mining?
First of all, mining costs are indeed getting higher and higher, but on the other hand Bitcoin is decreasing year by year, but market demand is continuing to rise, meaning that the Bitcoin value will be higher and higher, and the overall value trend is still rising. In 2010, someone exchanged 10,000 Bitcoins for two pizzas. The initial value was $0.003, but today, the price of Bitcoin has exceeded $6,000. Even if there is a big ups and downs in the middle, the general trend is rising. of. The established number of Bitcoins is 21 million. Its essence is an equation. One solution is a Bitcoin. The more the existing Bitcoin, the more difficult it is to make a new Bitcoin and the higher the value. So mining is valuable.
Second, the emergence of government regulation is inevitable. The blockchain has a great impact on society. Before that, the mining market was in a blank position. The relevant government agencies did not know where to start supervision and it would lead to the mining circle. confusion. But the purpose of state regulation should be to regulate this behavior, not to let this behavior disappear.
It is understood that the reason for the country’s clearing of the mine has not been officially stated, but it is probably because it consumes a lot of energy and occupies social public resources.
In fact, many local hydropower stations are not satisfied with this government initiative. Because the mine needs a lot of electricity, it usually gathers in the deep forests of the southwestern region where electricity is cheap, and the remote areas such as Inner Mongolia in Xinjiang. The Bitcoin mine is a large electricity user. For the departure of the mine, the operators of the hydropower station will obviously be disappointed. When the mine is in operation, it can consume 400 to 5 million kWh of water per month. Hydropower stations pay more than 1 million yuan in electricity bills, which is more than 12 million yuan a year. But because the mines are closed and relocated, the hydropower station will obviously lose an income. “If it is not used, it will become a stream of water.” So to a certain extent, the mine has added a lot of income to the local hydropower station, and the country can also earn more.
So far, the Bitcoin price today is at $6561 on September 21, 2018, rising 2.33%. I suggest considering it twice before mining because the profit might not be able to cover the cost of mining.