COINS "miners" confessions of an: had to buy the currency "mill" reset, almost begging

in the world of digital currency COINS, there is a mysterious type of work - "dig".As the name implies, is to "dig" like digging gold COINS.Dig COINS are called "miners", a little sun (a pseudonym) is a "miners".

a little sun is Haobtc proprietary mine head, before entering the currency industry once worked in a company's project manager, after 2013, the currency in China spread, he started into COINS peripheral products, machine sales, COINS, navigation website.He told those news, in dealing with the currency of a few years, although he avoided a lot of "pit", still tread "ray", the worst of time lost all his possessions, almost to the point of going to beg.

hash collision

it all have to start from mining.

the currency by a pseudonym for this cookie "in" the concept of network geek is put forward in 2009, is a kind of monetary authorities don't depend on the specific issue, according to the specific algorithm, through a large amount of calculation of decentralized digital currency.

"so to understand that the currency system is a huge, constantly updated books. Every page is called a block, according to the time order together, is called the currency block chain. A new block, every 10 minutes in the past 10 minutes in the system is the content of the some of the deal. Every transaction will be recorded in this book, and perfect the currency is recorded in the books."Little sun explained, "in fact we electronic banking system is also a book, pay treasure is books, also recorded the transaction records of each person. But the currency with the bank and pay treasure to different is that the currency of the trading information is stored in a central server, is preserved in all connections to the currency network computer."

under the workload proof mechanism of the currency, the currency in the network can anyone the rights to charge to an account, who first solve a math problem who to charge to an account associated with accounting.This math problem is a characteristic -- it's hard to solution, validation is easy.

"hypothesis is throwing the problem solving three dice, who had to throw out points less than 5, throw out more difficult, but it is very simple, verify the" little sun USES the example of an approximation.

but the real subject is not so simple, its difficulty is equivalent to 100 million dice throw out less than 50, 100 million who throw out first, who will get the account.At this point, the 100 million 50 is a hash value, throw the dice process called hash collision, and mining to calculate the force unit is how many times per second hash collision.

the current count COINS cut force reached 236 trillion times per second hash collision, the equivalent of 20 more than 50 meters long standard swimming pool inside the number of water droplets.But even such a large force, also need 10 minutes to collision accords with a requirement to a hash value.

COINS

mining work force units

"miners" task is to participate in for the right to charge to an account, they to hash collision around the clock, this process is called "dig".Who has the power, because of charge to an account, the latest generation of COINS are to be rewarded.

but the reward is decreasing of charge to an account, and COINS at the beginning of the birth, each write a page of books, the contents of the book is 10 minutes system to produce dozens of transaction, get 50 COINS, but according to the algorithm of the chung, then write one page 25 reward, passive, like digging gold, dig much at first, then less and less.Reduced in half the time, every time a new reward, is called the currency production in half.

COINS

the currency reward in half of charge to an account law

2012 COINS for the first production by half, in July 2016, the currency a second production by half, now remember one page book reward is 12.5 for a currency.The next half will happen in 2020 years or so, and by 2040 the currency will not increase, the total amount is 21 million.

in addition to the new currency, the new book "miners" reward and the fees of charge to an account in the future the currency amount does not increase, which will become the main income of the miners.

a little sun concludes, "dig" there are four main functions: one is to issue a new can of COINS in circulation;The second is the confirmation, accounting;Three is to increase a book page, that is, trade package form "mine";Four is proved through work mechanism, make COINS books can't been tampered with.

this is undoubtedly the first miners worldwide, this block is referred to as "blocks" of creation, the hearing in the words "on January 3, 2009, the chancellor of the exchequer, is in the implementation of the second round the edge of the bank bailout", and take this opportunity to express dissatisfaction with current monetary system.And accept the first COINS transfer is cryptography master Hal finney, he is also in the history of the second miner, at the beginning of the currency in the network, only in the hearing and Hal finney two people.

COINS

creation block

crazy printing press

"your computer may be a printing press once, I am not in the Arabian nights. If the currency was born in 2009 is aware of at the beginning of the value of the currency, and use their computers to easily a lot of COINS, until today it will be a lot of wealth," little sun said.

in fact, through a lot of Chinese COINS coin money overnight, surging news had come into contact with a person through the COINS to achieve financial freedom, now he is engaged in the currency of the underlying technology - block chain research, but because of the Chinese market a large number of speculators, he thinks too much noises, choose to leave, do not want to talk about the currency currency.

in 2010, an American named laszlo with 10000 gold COINS to buy the two pizza, this is the first time in the history of the currency business transaction.By January 11, 2017, the price of one currency is up to 6000 yuan of above.

once the currency is very good "dig", ordinary computer CPU can finish, only need to download software can automatically "problem solving".But as the dollar price is rising, more and more people want to "problem solving", so each generated 2016 - page book, the difficulty of the subject dynamic adjustment once more.

by June 2010, the people began to use graphics to dig, bought more than 40 pieces of graphics, made a mine in tianjin, but because of the lack of timely maintenance have not dig into how many COINS, loss is shut down.

and the card can't the problem solving, personal "dig" is becoming more and more advantages, mine "pool" was invented.

"' mineral pools to collect everyone's work force, win for all points earnings, like gaming group," said little sun.

more save electricity mining tools were invented, soon computer science PhD students from Beijing university of aeronautics and astronautics "pumpkin" began to make money by selling equipment, his mill avalon efficiency is equivalent to hundreds of computer chip, starting in September of 2012 accept reservation, start shipping in the first quarter of 2013.

when Cyprus in the economic crisis, the currency prices rose to an all-time high of $266, the market hot, "like the printing press assembly assembly mining machine".A gang spent 8000 yuan to buy the pumpkin zhang first three batch of 1500 units of the mill, the "money".

but dig a "pit" in the history of began to appear, the company bought avalon chip back to assembly, so-called back this 3 months, but in fact can't back to this, because selling futures mill - make money first, after a few months back mill.Because there is no timely to avalon chip, the company production delays, dig mining in "time is life", set the user basically can't back to the mill.

however, due to the impact of the mining machine, at that time, the difficulty of the "dig" rising very fast, 1 day to be able to dig a coin before, only be 0.8 dollars.

COINS strands of zero

"I nearly jumped into the pit, but witty I survived this pit, then jumped into another pit," little sun said is one of the most famous roast COINS circle cat mill.

"cannot say to bake the cat was in fact a hole, because it really made the mill, and batch production, a lot of mining machine depends on mining and made a lot of COINS, selling mining machine to the dividends of their shareholders is very considerable, IPO 0.1 B, then rose 50 times, suddenly changed into 5 B, and the increase in the price of a currency from a few yuan to several hundred yuan, has created a lot of rich," sun affair.

a little sun baked in cat's share price is 2 b, all the money to buy a currency, and then put all the money to buy a cat stock, his idea is: hold the roast cat stock dividends and currency is enough to support all the daily expenses, whether rose currency price rises, and, in turn, can maintain normal life, "if the two are up, I will die."

however, the currency after the end of 2013 the soaring, roast cat's share price and currency prices collapsed, but a little sun still hold a glimmer of hope, because the roast mill will launch a new generation of cat.But in fact, later the COINS mining giant mill bit the mainland also began to occupy the market quickly.

in May 2014, the currency of mainland listed before the ants mining machine, small sun baked cat got to shenzhen market, the mill, "I accepted without hesitation, because I think it is trying to help the shareholders make money."But in shenzhen sales progress is not very well, then a little sun left the team.Was his good friend "lightning" advised him to sell stock for many times, but he chose to hold and cherish the illusion that bake cat comeback because heart.But things didn't work out... bake the cat lost in 2015, sun small hand stock return to zero.

"can save, to learn to get off," little sun concludes.

speed

the currency trading volume of China's largest, mining is also the Chinese, most large mines, mine pool is also China's most, while the latter is determined by the cost.Small sun, according to many top ore pool in China, this pool several mines is force is about 70% in the entire network.

COINS

mineral pools to calculate power rankings, the red line for China's mines in the pool

a little sun was responsible for the COINS of the mines to calculate force in more than 100 p, accounted for 6% of global currency network managed to force.That is to say, the currency network each generated 100 gold COINS, six are small team to dig into the sun, can dig to about 100 a day.According to each currency calculated the price of 6000 yuan, the currency value is close to about 600000 yuan.And calculated according to the price of 0.35 yuan per kilowatt-hour, using ant S7 mill to dig, dig out each currency costs 3000 yuan.

sun small mines currently consumes 40000 degrees per hour.Now according to the mainstream work force, global mine power consumption per hour is greater than 600000 degrees, 5.2 billion degrees every year.

"some people say that dig COINS too power-hungry, is totally meaningless, but the value of the currency system had more than $100, according to now the price of the currency, dig out the New Year at more than $600 million, the currency value of the other currency mining solve the problem of an abandoned electric, China abandoned electric 50 billion degrees, 2015, at present many large mines in China, our quarry in Tibet and sichuan, solved a lot of abandoned local water electricity," little sun thinks his work is "a network cable to get a lot of regional energy excess, not consumption," found locally, converted to the currency, the value passed to the world, even electric grids money saved."

real mining is very thrilling.

because mine is very power, usually the reservoir construction in the power generation side, which should be adjusted according to the season.

due to sichuan altogether and mutagenicity in electricity prices vary greatly, the Dragon Boat Festival in 2015 small sun the team was 0.3% of the entire network finally in the work force from Inner Mongolia migrated to sichuan, and in the water to the mill to move to Inner Mongolia and xinjiang, "it is a bit similar to raise bees and grazing".

COINS

mine look

COINS COINS

field inside the

"martial arts world, the deployment of fast break, not only must calculate the force quickly, can't chase came up behind, roast is because there is no cat will in time to the market, the three generations of mining machine was lost in the competition to ants mill," little sun says one of his secret is the "fast".

at one time, on the way to sichuan sun small line of people met rock fall, "if we pass by here a few minutes earlier, may be dead."

COINS

a little sun team on the road to see rock fall

a little sun personally, now is not the best time to dig.Because the best time between 2009 to 2012, dug up 50% of the currency;The second best time is 2012 to 2016, this four years dug up 25%;The third period is from 2016 to 2020, to dig out 12.5% of the currency.

he thought dig this industry will continue to exist, but back to this cycle longer and longer, "the future mining will be highly intensive, there will be a very large field is built, the division will be more refined, manufacturing mill, mill operation, sales force, everyone will do their best, and ordinary people can count by force the securities and exchange standard to calculate force to participate in mining."

as for notes has this kind of behavior, a little sun to surging news said, "since the risk of cases, people willing to stir fry it."

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