区块链矿机挖矿的弊端有哪些,区块链矿机挖矿的弊端是什么

如今，区块链技术已经在各行各业中得到了广泛应用，其中矿机挖矿也是一种重要的应用。然而，矿机挖矿也存在着一些弊端，本文将对此进行详细介绍。

首先，矿机挖矿的设备投入成本较高。矿机挖矿需要使用专业的矿机设备，其价格不菲。由于矿机设备的价格较高，因此投入成本较高，这可能会限制一些企业的发展。

其次，矿机挖矿的能耗较大。矿机挖矿需要大量的电力，这将导致能源消耗过大，并且可能会影响环境。

此外，矿机挖矿的技术门槛较高。矿机挖矿需要一定的技术水平，因此，参与者需要具备一定的技术知识，以便能够使用矿机挖矿。

最后，矿机挖矿的收益不稳定。由于矿机挖矿的收益受到市场因素的影响，因此，收益的波动很大，这可能会导致投资者的损失。

总之，矿机挖矿存在着一些弊端，包括投入成本高、能耗大、技术门槛高以及收益不稳定等。因此，在参与矿机挖矿时，投资者需要谨慎行事，以免受到损失。

1. Is mining with mining machines a scam?

Mining with mining machines is not a scam. What can become a scam is the mining machine and the mining pool. By exaggerating the computing power of the mining machine To deceive investors into purchasing, that is to say, as long as you choose a regular mining machine and mining pool, then the mining machine is not a scam. First of all, the mining machine is a real thing, such as a Bitcoin mining machine, which is deployed The algorithm for mining Bitcoin is used to mine Bitcoin. The higher the computing power of the mining machine, the more Bitcoins can be mined.
There are many small platforms for mining coins now. You can spend a few hundred yuan to register a website and get a system and start. When more people join and more money is invested, the platform will become popular at a certain time. Money runs away. Mining machines are generally deceptive, especially those who require top-up VIP membership to withdraw cash, or those who claim to earn one or two hundred a day, these are all fake. Ordinary home computer configurations for Bitcoin cannot meet the requirements of Bitcoin mining machines. It’s hard to make back the electricity cost of digging for a day.
Extended information:
1. The surge in computing power: The surge in computing power is the biggest risk in mining investment. The increase in computing power leads to an increase in the difficulty of mining, resulting in a decrease in income. However, in the free market, competition cannot be avoided. The risk of increased force is acceptable.
2. The currency price drops: When the currency price drops to a certain extent, and the output income of mining is less than the electricity fee generated, a loss will occur. However, according to calculations, the electricity bill is 5 cents and the currency price is below 6,000 before it is possible to lose money. The current currency price is close to 40,000. Unless there are special reasons, the possibility of the currency price falling to 6,000 in the short term is slim. Such as supervision.
3. System risk: System risk is very common in Bitcoin, and the most common one is fork. Forks will cause currency prices to fall and mining profits to drop sharply. However, judging from the current situation, forks actually benefit miners. The forked altcoins also require the computing power of miners to complete the minting and transaction process. In order to attract more miners, altcoins will provide more areas. Block rewards and handling fees to attract miners. Risk has made miners successful.
4. Policy risks: From the "Notice on Preventing Bitcoin Risks" in the early 13 years to the "Joint Announcement of Seven Ministries and Commissions" today, the policy risks of digital currencies have been made clear. The current domestic policy is not clear, but Bitcoin It is worldwide, so most mines believe that the risk is not significant

2. Can anyone tell me whether blockchain transaction mining will lose money?

Losing money is possible under any circumstances. There is no investment in this world that can be 100% sure of making money.

With the rise in the price of Bitcoin, the mining industry has become a veritable "gold mine". The large influx of newcomers and retail investors has made the Bitcoin market

Coin mining machines are hard to come by.

It is also in the face of such a market that the price of Bitcoin mining machines has begun to rise. Not only that, because the number of Bitcoins is becoming increasingly

scarce, soMining is becoming more and more difficult, and now Bitcoin mining capacity will gradually decrease.

When the revenue of the mining machine is not enough to pay for the electricity consumed, the currency price at this time is called the "shutdown currency price". The influencing factors include currency price, electricity consumption

price, mining Mining difficulty, etc., if the currency price falls below the "shutdown currency price", miners need to shut down the mining machine, otherwise they will lose money.

So, any industry has certain risks, and only when you devote yourself to this industry, that is, after you have a deep understanding

, will you know There are risks involved, and you need to bear these risks before you can continue to develop in this industry.

Blockchain mining:

In 2009, Satoshi Nakamoto invented Bitcoin and set a limit of 21 million Bitcoins. In the Bitcoin network, by participating in the production of blocks and providing proof of work (PoW), you can obtain rewards from the Bitcoin network. This process is mining.

The concept of "mining" is taken from the existing concepts in our real economic life, such as gold mining, silver mining, etc., because minerals are valuable

That’s why people are driven to pay labor to dig.

Another important point in Bitcoin mining is that the miners participating in mining recognize the value of Bitcoin, and there are people in the market who are willing to mine the Bitcoin market

Spend money. So, Bitcoin mining makes sense.

3. 10,000 mining machines consume 45 million kilowatt-hours of electricity a month. Are they mining “coins” or “pits”?

With the development of society, our lives are becoming more and more complex. The better, many people are pursuing higher income methods, so they focus on virtual currencies. However, some people actually use their own mining machines to mine. With 10,000 mining machines, the power consumption in a month reaches More than 45 million. Although it is said to be a virtual currency, the power consumed is real. Many people do not understand it. I will explain it in detail below. 3. I think this method is too wasteful.
We generally call these things virtual currencies. The main reason is because they are virtual and exist on the Internet. They have nothing to do with our physical things, so many people invest, but if We consume a huge amount of electricity for mining. This electricity may be made from coal combustion or hydropower, but in any case it is a huge waste of resources. Therefore, I think this method is very unnecessary. For ordinary people, People should pay more attention to risks.

In short, many people are paying attention to virtual currencies, because some people have made huge profits through virtual currencies, but some people have lost money. Although virtual currencies are virtual, some people The energy consumed by mining is indeed real. For example, tens of millions of kilowatt hours of electricity are consumed in a month. It can be said that this electricity is a complete waste of energy. The virtual currency itself is virtual and should not be used.Physical waste should be used to promote it, so I think this method is too wasteful, and we should find ways to control them.

4. Do you know the four major disadvantages of Bitcoin?

Essay question: Please answer the four major disadvantages of Bitcoin? And discuss what technologies are currently available to make up for these shortcomings?

A: The four major disadvantages of Bitcoin are: long transaction confirmation time, large investment in computing power, difficulty in hosting commercial scenarios, and too one-sided community governance. Currently, Bitterfly - Butterfly Matrix Entropy Weight Consensus Algorithm can make up for the above shortcomings.

1. The transaction time is shortened to 15 seconds, empowering a new ecosystem of commercial applications

The life cycle of a Bitcoin transaction begins with the creation of a transaction. Currently, in the Bitcoin system, it is generally 6 blocks are used as the transaction confirmation time, that is, after the transaction is written into the block, it waits for 6 blocks to be generated (usually 60 minutes) before actually carrying out the handover of other assets in the transaction, and this process requires The time is very long.

To address this problem, Bitterfly has improved the workload proof mechanism: First, Bitterfly’s consensus occurs between verification nodes. The identities of participating voting nodes are known in advance, and each verification node is pre-configured with a list of trusted nodes. Nodes on the list can vote for transaction completion. Secondly, the Byzantine fault tolerance (BFT) capability of the Bitterfly consensus algorithm is (n-1)/5, which means it can tolerate Byzantine errors in 20% of the nodes in the entire network without affecting the correct consensus. Therefore, the algorithm is more efficient than anonymous consensus algorithms such as POW. The commercial-grade blockchain confirmation speed (5000+TPS) shortens the transaction confirmation time to a few seconds, which can fully satisfy the vast majority of transactions without time restrictions. , performed in real time.

2. Cloud-API cloud server mining, reducing computing power + electricity investment

Starting mining in 2010, as more and more miners join Bitcoin On the Internet, the difficulty of mining has increased dramatically. The entire network must perform trillions of hash calculations per second. Mining has put forward more stringent requirements on computer hardware and mining machine performance. As the number of Bitcoins being mined gradually decreases, in order to ensure profitability, miners use thousands of mining machines to mine 24 hours a day, which consumes huge amounts of electricity. According to the Daily Telegraph, the electricity required to mine the cryptocurrency has surged to 77.78 terawatt hours per year, which is equivalent to the total electricity consumption of Chile.

As an open and inclusive public chain, Bitterfly has improved the mining method of Bitcoin and proposed the concept of cloud server mining Cloud-API for the first time. Cloud-API supports multiple categoriesComputing equipment, including access to multiple cloud server providers around the world, such as Amazon Cloud, Microsoft Cloud, Alibaba Cloud, Google Cloud, IBM Cloud, etc., achieves the mining fission effect by efficiently aggregating global computing resources, which not only significantly reduces By lowering the mining threshold, it can also effectively avoid resource waste. From the perspective of investment cost, while ensuring the high-performance operation of mining machines, saving electricity will make traditional dedicated mining machines no longer have advantages or even face elimination.

3. POW+Bitterfly two-layer algorithm to meet the needs of commercial applications

Bitcoin can easily cause problems due to the low system throughput (TPS) of processing per second. The network is severely congested and it is difficult to meet the core demands of users for transactions. In terms of practical applications, due to problems such as poor scalability, high transaction fees, and long confirmation times, Bitcoin is difficult to carry larger commercial scenarios. As the concept of "blockchain+" continues to advance, users have gradually shifted from simply focusing on digital currency prices and transactions to paying more attention to the scope of its use. Improving the ability to implement applications according to market demand is the development trend of Bitcoin and other digital currencies.

Bitterfly pioneered the POW+Bitterfly two-layer algorithm, which is an improved PBFT algorithm. Bitterfly uses the POW algorithm to ensure that the underlying blocks are sufficiently secure, while also serving a variety of business ecosystems and applications with technologies such as value storage, decentralized digital asset exchange, payment and clearing. Based on the users (individuals, enterprises, governments), asset owners, service operators, different operating entities in the industry chain (equipment suppliers, online e-commerce, financial institutions, logistics companies, etc.), as well as the characteristics of the blockchain business, the The bottom layer is modularized to handle multi-dimensional and multi-role security protection, data privacy and confidentiality, distributed data storage, trusted data asset access and transactions.

4. 21 creation nodes, gathering community consensus

Even the lowest threshold for the upper-level management of the Bitcoin community is the ceiling for most people, because of Bitcoin’s community governance It focuses more on technology upgrades and maintenance, and the governance system is very complex, requiring strong professional capabilities. Although "everyone can participate" in the community, as long as they generally agree with the core values ​​of Bitcoin and are willing to participate in related activities, they can be considered community members. However, compared to those at the top of the pyramid, these people lack a sense of identity and are less mobile. big.

Therefore, the first thing Bitterfly advocates from a mechanism perspective is to allow each node to actively promote Bitterfly’s values ​​and reach a consensus on the concept. Secondly, we promote community sharing and co-governance in the form of "contribute and get rewarded" to form a joint force for steady development. The Bitterfly community will have no entry barriers, and anyone with or without technical background can compete for node qualifications. Bitterfly has created a total of 210 nodes, and the nodes will help the community in a variety of ways.the future development of the district.

Recently, on Researchgate, a foreign research social service website, an article published by a Harvard University student: "Bitterfly: Butterfly Entropy Consensus Algorithm" has attracted widespread attention. While affirming the value of Bitcoin, the article also pointed out the shortcomings of the POW consensus algorithm and showed that in terms of technology, Bitcoin is unsustainable for the future of the blockchain.

11 years after the advent of Bitcoin, whether it can continue to support the entire blockchain industry is once again put on the topic table for discussion,

The student raised the question At the same time as the problem, it also provides a solution, which is the butterfly entropy weight consensus algorithm. Butterflies flutter their wings and hurricanes will rise. Bitterfly's power to change the world begins with every effort to spread its wings.

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5. What problems currently exist in the Ethereum blockchain ETH

The Ethereum blockchain currently exposes three major problems Problem, its founder Vitalik Buterin has been unable to decipher for a long time. The first is the overall low performance and TPS of the Ethereum blockchain; the second is the lack of isolation of resources. The CryptoKitties virtual cat incident once occupied 20% of the entire Ethereum traffic, which directly caused the Ethereum network users to be unable to carry out timely operations. Transactions are the biggest pain point of not isolating resources; the third problem lies in the governance structure of Ethereum. As a decentralized distributed ledger, the blockchain has been too central in the past. The founder team has dominated the development of its network. The centralized governance model has led to the emergence of ETH, ETC, ETF and other forks in Ethereum, and the Ethereum community is currently in a state of fragmented governance. In the view of "aelf" founder and CEO Ma Haobo, the various shortcomings currently occurring in the Ethereum network are unacceptable. Therefore, the positioning of "aelf" was born to benchmark the next generation of decentralized underlying computing platform of Ethereum, focusing on solving the current problems of insufficient performance, lack of resource isolation, and governance structure of Ethereum.

6. Mining and speculating are so popular now, are there any risks?

The currency circle is relatively popular now because of the popularity, because the operation of Bitcoin will make the currency circle popular. , as for other Dogecoins, etc., it is necessary to invest a small amount of money in currency speculation, and you may receive big profits. This is a greedy thinking of a greedy person.

Nowadays, currency speculation is actually very risky, because the currency being speculated is not legal currency. What follows is that if it is not backed by legal currency, it will go bankrupt and disappear overnight. .

Therefore, investing in other currencies is actually a trap, a deep pit. I advise everyone not to play with this kind of currency.

Mining and currency speculation are also high-risk and high-yield subdivisions. Specifically, they are as follows:The following risks need to be noted:

1. Capital investment in professional mining machines is risky. Digital cryptocurrency is mostly based on algorithms and hard disk storage production methods to obtain profits, so it has high requirements on machines (mining machines), especially processors. Distributed storage like IPFS has high requirements on hard disks. These The capital investment is huge, a high-end mining machine can cost hundreds of thousands!

2. The risk of the mining explosion rate of the selected currency. The explosion rate of each currency is different. This is closely related to the competition of mining. If you are mining Bitcoin, there are so many Bitcoin mining machines now that they are very competitive. In addition, Bitcoin every four years The mining rate is decreasing. If your mining machine does not have enough computing power, it will be difficult to mine Bitcoin.

3. Risk of energy consumption investment. Mining is a high-energy-consuming industry. Mining machines usually have to work 24 hours a day, and the demand for electricity is very large. Without reasonable electricity price support, mining in the early stage will basically be at a loss.

4. The risk of policy changes. At present, countries around the world have different attitudes towards digital cryptocurrency. For example, China strictly prohibits it, and private mining will be banned once discovered. And the attitudes of some countries change frequently, such as Iran and Russia. When the policy is acquiesced, you may make huge profits, but when it is controlled and cracked down, there may be risks.

5. The investment risk of the pledged coins required for mining. Once many mining coins are connected to the main network, you can participate in mining. As long as your computing power and all aspects meet the requirements, even if you mine the mine, you cannot take out the mined coins immediately. selling. Because the mainnet basically has a rule that requires part of the pledged coins, the mainnet is also afraid that you will suddenly be disconnected for no reason! Only when the coins you mine are far greater than the pledged coins, will a part of the coins be gradually released for you to trade. And these pledged coins are a big investment! Even bank interest is a risk!

6. The risk of currency market conditions to mining. The currency market fluctuates up and down, and everyone knows this. If the currency you mine does not perform well, or collapses, then naturally the currency you mine will be worthless, and risks will naturally exist.

Of course, the above is just an analysis of the various risks that may arise from coin mining. But if the market price of the cryptocurrency you mine is high enough, everything will be a solvable problem.

Although it is popular, but also because of its popularity, there are many risks of crisis in the currency circle!

Speaking more broadly, virtual currencies are currently not subject to legal protection, national supervision, and policy factor risks

Xiaoli said that everyone is currently trading on centralized exchanges. To put it bluntly, they run a casino and they have the final say. It’s normal to cut you off if you’re unhappy. The exchange is risky!

There are so many types of coins that it’s hard to tell the difference between true and false! There is a risk of being cut directly! I won’t go into details, but there are many, many risks to talk about...

There are risks in mining and speculating, but generally speaking, the risk of mining is less than speculating.

After all, graphics cards are a necessary product for some people. You can always find a taker in the end, but this is not necessarily true for currency speculation.

When playing spot, the normal rise and fall of profits and losses are the same as stocks.

Playing with contracts, with small investment and high returns, it is easy to liquidate your position.

When high leverage encounters sharp rises and falls, you will also face the risk of unplugging the network cable from the platform.

Finally, there is the risk of cash withdrawal, and it is easy to freeze the card.

First, let’s talk about the risks of virtual currency mining. Take the most typical mining of Bitcoin and Ethereum as an example. Bitcoin mining requires the purchase of professional mining machines. Each mining machine sells for about 10,000 yuan. Ethereum mining requires the purchase of a graphics card for mining. Currently, The price of each graphics card is around 7,000. As far as the most basic mining equipment is concerned, for ordinary people, purchasing several Bitcoin mining machines or graphics cards at one time will cause considerable financial pressure. During the mining process, the miner consumes a large amount of electricity, so if the electricity cost is too high, it is very likely to cause losses. If residents use electricity to mine, they may suffer huge losses. During mining, you also need to consider the damage and maintenance of the mining machine.

Then there are the risks of currency speculation. The virtual currency market is traded all the time and lacks supervision, so the price manipulation of virtual currencies is very obvious and crazy.

The first risk of currency speculation lies in the price manipulation of virtual currencies. The issuance cost of many virtual currencies is very low, and can be issued for tens of thousands of yuan. Once this kind of altcoin is listed on a virtual currency exchange, the project party may frantically sell the virtual currency in hand until the price of the virtual currency approaches 0 indefinitely, and is finally removed from the exchange and cannot be traded.

The second risk of currency speculation is that virtual currency exchanges take away users’ virtual currency assets and run away. Therefore, you must be careful when choosing an exchange.

The third risk of currency speculation lies in the contract trading of virtual currencies. The entry threshold for the virtual currency market is low, and small funds can leverage large funds through contract transactions and leverage transactions. The benefits are great, but the risks are even greater. You may lose all the funds in your account at any time.

The above are the main risks of mining and currency speculation, as well as the risk of encountering black money in the process of converting virtual currency into RMB after profit from currency speculation. These risks are relatively controllable.

The sudden rise and fall must be a big risk. If you dig a hole, you need to invest in equipment. If you are a small business, you have no cost advantage, no management advantage, and you may not be able to make back the electricity bill.

Everything has its windRisk, if there was no risk, everyone would have made a fortune long ago. The risk of speculating in coins lies in your cost price. For example, one Bitcoin costs 390,000. The price you pay for speculating and buying one is 390,000. If it falls below 390,000, won’t you panic? Some people may rush to sell at 350,000 to try to reduce their losses. The risk of mining lies in whether you will encounter mining disasters. In a bear market, the coins you mine for a day are not enough to deduct your electricity bill. The second is cloud computing power mining. You have to understand the reliability and authenticity of the platform. After all, there are more funds in the currency circle now, and you will get into trouble if you don't pay attention.

There are definitely risks in speculating in coins.

When I first learned about Bitcoin, it cost hundreds of thousands per coin.

After a while, it dropped to 20,000 to 30,000,

If you need money, can you afford it?

If so Can the borrowed one hold up?

If the money comes from selling your house, how will you face your family?

In short, it shouldn’t affect your life.

Buffett says not to invest with borrowed money.

It is better to hold it for a long time.

If you don’t have money, don’t invest so much,

Be within your own tolerance.

One thing to believe: the higher the return, the greater the risk.

As the saying goes, one day in the currency circle is one year in the stock market. Without a strong heart, one cannot withstand the ups and downs of currency speculation in one day. Especially when the amount of funds is large, it is normal for the mentality to collapse.

So, do you think the risk is big?

First of all, mining is relatively professional and requires in-depth research on the project, finding your beliefs, and giving yourself a reason to insist on investing in costs and continue mining. Judging from the current environment, the cost of mining investment is getting higher and higher, and it is difficult to see obvious benefits in the short term. It is suitable for people who have faith and can persist in the long term. Financial freedom is not a dream.

Secondly, for most leeks, mining is too advanced. Most people may not even know what decentralization and blockchain are, and they just watch the crazy rise of virtual currencies. If it goes up, you can't resist the urge to rush in. There is a saying that goes well, money earned through luck is often lost through strength in the end, and the loss may be even greater.

The currency circle is open 24 hours a day, all year round. The biggest risk is that the rise and fall are endless. It can double several times a day, or it can be cut in half in a minute, or even return to zero and disappear.

Therefore, I think that currency speculation is suitable for small gains and big gains, and a small amount of money to achieve a miracle. However, the greed of human nature determines that most people's final outcome is to get a small profit first, and then lose their bottoms, and they will be miserable.

Two casesFor example, if the same person enters the circle with 100,000 yuan, a person can earn 20 million yuan a year by relying on luck and strength, and then retire with no problem and wealth. A person doubles his earnings to 700,000, and then loses 90%, all in vain.

Which one do you think you will be?

The boom of blockchain has revitalized the currency circle. Coin speculation, especially investment in digital currencies, has become mainstream. Many people can’t help but take risks and cross the gray area to get rich overnight. Although the central bank has issued relevant policies To rectify it, but it can only restrict it and never achieve the purpose of radical cure. So is the risk of currency speculation big? What risks may exist? Please see the analysis below.

1. Personal Risk

In the process of investing in digital currencies, the biggest risk is not others, but yourself!

Our deposits , investment stocks, securities, etc. There will be a centralized organization to help us defend against attacks, help us handle disputes, and help us retrieve our passwords.

But in the world of digital currency. These safety measures are all put into our own hands.

If you do not control your personal risks, you may encounter:

1. Passwords and private keys are stolen, and all digital assets in wallets and exchanges are lost (unable to Retrieve)

2. Your information will be sold and sold by the underground industry, with almost no privacy

3. If you are in other places (banks, stock exchanges )Using the same or similar passwords, assets elsewhere will also be stolen

Suggestions

1. Increase password strength, do not reuse passwords, and do not send passwords online< br />
2. Don’t run naked on your computer (without installing security and anti-virus software), and don’t go to messy websites (“pornographic, gambling and drug” websites are the hardest hit areas for Trojan viruses)

3. Wherever you need to enter important information (account number, password, personal information), pay attention to whether the website is an official website to avoid being phished

4. Anyone (family, relatives or friends) comes to you through the Internet To borrow money, you need a password, an account number...you need to call to verify whether it is done by you.

To summarize: when investing in Bitcoin, the biggest risk is ourselves! We need to learn more and understand some knowledge about network security, so as to effectively avoid the disappearance of the appreciated coins in our hands. !

2. Platform risk

Platform risk is actually the risk of the exchange. The coins that everyone puts on the exchange are actually stored in the centralized wallet of the exchange.

If you payIf an exchange is attacked by a hacker, the exchange will suffer huge losses. At worst, the exchange will bear the losses itself, or at worst, the exchange will go bankrupt.

Suggestions

1. Choose an exchange with large trading volume, long history and good reputation

2. If you plan to hold it for a long time, Just don’t put a large amount of digital assets on the exchange, and store the coins you don’t intend to trade in your own wallet

3. Be sure to pay attention to the security of the wallet

4. You can use it at the same time Use multiple exchanges to share risks

3. Policy risks

Maintain a positive attitude towards blockchain. The government and many companies are researching and applying blockchain technology. . However, there are certain restrictions on investment in digital assets. At present, the volume of digital assets is not large. If it grows rapidly, it may have a certain impact on the financial industry.

In addition, due to globalization and decentralization, it also involves asset outflows, breaking foreign exchange restrictions to a certain extent.

Are there any policy risks in my current trading?

On-site trading is completely in compliance with domestic laws and regulations, so on-site trading is relatively safe. OTC transactions are not fully compliant from a legal perspective and may be affected by policies, so it is not recommended that you store your coins in OTC exchanges for a long time.

Suggestions

4. Legal Risks

High returns are not only accompanied by extremely high investment risks, but also legal risks that cannot be ignored. And the risk of receiving stolen money is to freeze the card.

7. The harm of virtual currency mining

Recently, the National Development and Reform Commission has determined that business activities related to virtual currency are illegal financial activities, and the "mining" behavior of virtual currency is extremely harmful. . The industry will comprehensively rectify concentrated mining, mining by state-owned units, and Bitcoin mining.

So, what exactly does “mining” virtual currency mean, and what are the dangers?

Virtual currency "mining" is the process of producing virtual currency through special "mining machines". Its essence is equivalent to a mathematical problem in the virtual currency system. Whoever calculates the correct answer in the mining machine first will be rewarded with corresponding virtual currency. This process requires the computer to continuously calculate. The faster the computer calculates, the more power it consumes.

How much energy do you need? A mining machine dedicated to virtual mining requires a large number of graphics cards. The power of a mining machine graphics card is generally around 300W, and a mining machine with four graphics cards is 1200W. Together with other equipment, the power of a mining machine is around 1400W. Mining machines generally run 24 hours a day, and a mining machine consumes 33.6 kilowatt hours of electricity a day. Some mines often have a large number of mining machines. For example, a company engaged in "data services" in a western province has an average monthly electricity consumption of 2,500 kilowatt hours. CanYou can imagine how much electricity these mining companies consume and how much carbon emissions they produce.

At the same time, do these mining companies have any role in economic development and technological progress? No, it will also affect the normal production and operation of legitimate enterprises due to large power consumption.

Related Q&A: How to mine virtual currency and what does it mean?

The only virtual currency that is relatively reliable at present is Bitcoin. Bitcoin is a virtual currency generated through a corresponding algorithm and requires the use of a large number of mining machines, that is, servers for mining. Currently, in our country, there is only one such currency, Central Bank of China. The virtual currency issued is legal, and everything else is illegal. Hope this helps, thank you for your adoption.