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How did the Bitcoat dig out? Read the second to understand

via:驱动之家     time:2017/6/21 13:49:54     readed:464

Recently, with the mining led to a wide range of graphics card out of stock, many users began to pay attention to Bitcoin, but for the bit in the end is what the gods know little Although there are many online science articles on the bitcover, but if there is no relevant financial knowledge, it is difficult to understand the real significance of Bitcoin.

So today I will try to the most straightforward text for everyone to introduce the principle of Bitcoin, and why the value of Bitcoin and other issues, so that we more intuitive of the "virtual payment system."


Super mine

1, the origin of bit coins

Want to fully understand the origin of Bitcoin, had to mention the existing financial system.

As we all know, the currency itself is of no value. At first the human use of barter way to trade, but there are many inconvenience, it is difficult to change to their own needs. So the currency came into being, through the currency of this intermediary, you can be different items according to the degree of pricing, simplify the transaction process.


Although monetary transactions benefit a lot, but there is also a fatal flaw, that is central. 100% of the world's existing currency is the national central bank issued or abolished, ordinary people can not participate in currency issuance or central bank accounts. If the central bank continue to issue currency, people will continue to dilute the hands of the currency, reducing the purchasing power of money.

This is by no means alarmist, and some countries in the world have already had such incidents.

Such as Zimbabwe, in recent years the government a large number of ultra-currency led to the Zimbabwe economy close to collapse, and finally had to introduce the dollar into the local legal currency. Zimbabwean economists are now considering alternatives to Bitcoin.

India, for example, on Friday, November 18, 2016, suddenly announced that the denomination of 500 rupees ($ 7) and 1,000 rupees ($ 15) were canceled in the early hours of the morning, resulting in an 85% Into waste paper.

In order to solve this problem, the father of Bitcoin in the original in 2009 proposed to the concept of centralization, that is, the currency issued in the open source software and the construction of its P2P network, to create a decentralized payment system. Many readers see this do not understand, what is the center? What is a P2P network?

We use the domestic popular WeChat to pay for example, although the WeChat and the same currency as a virtual payment system, but the WeChat of each transaction must be carried out in the banking system, the bank is the center of WeChat payment. To the center is a point-to-point transaction, without any other factors.

P2P network to better understand, P2P is peer-to-peer abbreviation, is the "partner to partners", also known as peer-to-peer network. For example, you download a movie through the love of art, that is, from the love of the game to the film to your computer; and if you download a movie from P2P resources, is already from the other software resources have been P2P users to download, And if other P2P users need this resource, you can also download from your computer.

Bitcoin is like this movie,It is not the same as the central bank there is a central server, but exists in the world hundreds of millions of computers. Since the release, in theory, no one can control the number of bit coins, can not be produced by a large number of bits of currency to manipulate the currency.Based on the design of cryptography can make the bit currency can only be the real owner of the transfer or payment, excellent security.

But Bitcoin is not perfect, there is a fatal flaw that makes it impossible to become a legal currency, which we will talk about below.

2, how is the output of Bitcoin?

First of all, we have to look at the "block chain", the core principle of Bitcoin is "block chain", each block corresponds to a bill, all the blocks are linked to the block chain, any transaction information and transfer records Are recorded in the block chain. It should be noted that the block chain exists throughout the Internet, so any Bitcoin holders are not worried about the loss of Bitcoin.


At every other point in time, the Bitcoin system generates a random code on the system node. All the computers in the Internet can find the code, who finds the code and generates a block that gets a bit of money. The process is that people often say mining.Calculate the random code requires a lot of GPU computing, so the miners are purchasing massive graphics card for faster access to bit currency profit, which is the recent card out of stock an important reason.

Some people say that this bit as much money will not be more and more, and finally no value? Zhongcong Cong also think of this problem, where there is a mechanism of Bitcoin system:That is, the total amount of bitcoin is limited, the total amount of the first four years will produce 10500000BTC, the output amount is reduced by half every four years, in the fourth year to the eighth will produce 5250000BTC, 8-12 years only 2625000BTC, and so on The In the end, the total amount of bitmaps produced is close to 21 million bTC.

At present, a 1-bit coin is divided into 8 decimal places based on the current data structure, that is, 0.00000001BTC, miners dug the smallest unit of Bitcoin is 0.00000001BTC.

Popular point that bitcover is like a total of 21 million gold coins composed of Jinshan, want to get it, you need the players to use the computer's computing power, according to the existing algorithm to calculate a set of specific laws The

Of course, these math problems are becoming more and more difficult as the existing bitcoin increases.

3, why can the value of Bitcoin? What are the disadvantages?

In fact, the problem itself is wrong, the above also mentioned that any currency itself is no value, only a sufficient number of people believe that the currency will make the currency "value", and the "value" is with quotation marks of. But now many people believe that Bitcoin can bring wealth to them, so Bitcoin produces "value".


Let's take a look at the characteristics of Bitcoin.

1, the total is limited, only 21000000BTC

2, anyone can issue Bitcoin, but the issue is more and more difficult

3, relative to the central bank more secure, almost can not be stolen

4, the transaction process completely anonymous, can not be tracked

Based on the above advantages, more and more people are willing to convert their wealth into equivalent bit currency, while the abolition of the wealth of the French currency, so the bit currency prices began to rise. The more people who believe in Bitcoin, the more fierce the price of the bitter currency. Of course, a few days before the bit soared 21,000 yuan and fell to 17,000 yuan event is speculation behavior, bit long currency advantage can not be speculative left and right, the final bit currency will be relatively stable in it really represents the total value of wealth On, but at this stage, bit currency prices fluctuate or too violent.

From the performance of Bitcoin at this stage, the liquidity level of Bitcoin is lower and the liquidity risk is higher, so it can not effectively carry out the basic functions of currency trading medium, pricing unit and value storage, and can not become real currency.

Coupled with the total amount of Bitcoin is limited, the phenomenon of deflation will become more and more serious. Imagine if you use a bitcoin to replace the global currency, if one person has 10,500,000 BTC, the next years, he will have half of the world's property! And pay attention to this wealth is permanent. So Bitcoin would like to completely replace the currency, is completely impossible.

4, mining income analysis

Finally, we talk about mining earnings analysis, the main cost of mining complex replacement: Miner (also can be ordinary household computers), electricity, housing rent. As the bitcover is too complicated, ZOL evaluation of the computer work for several months may also be no progress, so here we - to coin (a similar bit currency virtual currency) mining, for example, for everyone Mainstream graphics card mining income experiment.

For mining, the graphics card is the core, the rest are auxiliary accessories, taking into account the use of each platform is different, here consider the cost of mining costs only include graphics cards, electricity, electricity, 0.5383 yuan / kWh.


Specific test results are as follows:

Radeon RX 580 graphics cardTo

Machine power consumption: 243W

Calculating force: 22.4M

Graphics card price: 1999 yuan

Dropped ETH every 24 hours: 0.015

Income per 24 hours: 24.48 yuan

Estimated return time: 81.66 days

Radeon RX 470 graphics cardTo

Power consumption: 159W

Calculating force: 24.3M

Graphics card price: 1599 yuan

Digging the amount of ETH every 24 hours: 0.017

Income per 24 hours: 27.9 yuan

Expected to return to this time: 57.31 days

Radeon RX 480 graphics cardTo

Power consumption: 171W

Calculating force: 24.4M

Graphics card price: 1999 yuan

Digging the amount of ETH every 24 hours: 0.017

Income per 24 hours: 27.87 yuan

Estimated return time: 71.73 days

Radeon RX 560 graphics cardTo

Power consumption: 97W

Computational force: 9.2

Graphics card price: 999 yuan

Digging the number of ETH every 24 hours: 0.006

Earn every 24 hours: 10.09 yuan

Expected to return to this time: 99.01 days

GeForce GTX 1060 graphics cardTo

Power consumption: 175W

Computing force: 22M

Graphics card price: 1999 yuan

Dropped ETH every 24 hours: 0.015

Income per 24 hours: 24.86 yuan

Expected to return to this time: 80.41 days

GeForce GTX 1070 graphics cardTo

Machine power consumption: 220W

Calculating force: 25.7M

Graphics card price: 2899 yuan

Digging the amount of ETH every 24 hours: 0.017

Income per 24 hours: 28.84 yuan

Expected to return to this time: 100.52 days

In summary, the data can be found, Radeon RX 470 graphics card back to the fastest, only 57.31 days. While the GeForce GTX 1070 overall efficiency of the worst, you need 100.52 days to return to this.

However, readers please note that this test back to the time only to the graphics card value, did not calculate the cost of the platform and site costs. The actual operation of the mining machine suddenly a lot of things, such as downtime, hardware damage, power outages and so on. So the intention of mining readers also please carefully consider that if there is a very low cost of electricity, mining is difficult to profit.

Write at the end:

With the orderly implementation of the cashless society, paper money will disappear with the passage of time in the long river of history. And the future of digital money and will be similar to the bit currency, but not a limited supply.

But when the human ability to produce wealth can be calculated by the computer's computing power, the electronic currency issue speed and computer computing speed is proportional to or slightly higher than a certain rate to create a moderate inflation in the future mining is also in the creation of Value is not a waste of electricity now.

The final digital currency to achieve the small changes in productivity and computing ability to match the difficulty, which may be the final form of human money it!

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