At present, the mainstream virtual currencies include Ethereum ETH, Ethereum Classic ETC, Zerocoin ZCash, Monero, etc. The design goal of these coins makes ASIC chip mining machines have no mining advantages, so you can assemble PC graphics mining machines for mining. Mine, this allows ordinary people to have equal opportunities to contribute computing power and enjoy income, while also diversifying computing power.
Overview of mining and mining machinesThe essence of mining is decryption. The encrypted digital currency recognized by us is composed of a series of passwords.
If we dig out the digital currency in a mining pool, we will use it. This mining machine is essentially equivalent to a hacker system, which can crack this string of passwords in a short period of time, and then take out the passwords.
1. How to mine-mining pool and mining machine varieties
How to mine?
Mining can be carried out by purchasing a mining machine. The essential principle of mining is to run the mining program on the mining machine and calculate the algorithm to get rewards.
Mining pool:
The output of a single miner is not stable. In order to obtain stable mining output income, mining pools appeared. The mining pool is to gather the miners' mining machines together.
The more mining machines, the stronger the computing power. In the total computing power of the entire network, it occupies a certain proportion of the share, which ensures a stable mining output. When distributing mining output, it will be distributed proportionally according to the computing power contributed by a single miner to the mining pool. Usually, the mining pool will charge a small fee.
2. Varieties of mining machines
At the beginning, mainstream miners mainly used ASIC mining machines to mine Bitcoin, supplemented by Litecoin. With the emergence of other digital currencies such as ETH, ZEC, SC, and other digital currencies, some miners began to choose to use graphics card mining machines to mine ETH and other currencies. . Miners chase the greatest profit.
There are two types of miners: ASIC miners and graphics card miners
ASIC mining machine: The Ant S9 produced by Bitmain is currently the most mainstream mining machine on the market, which is known for its low power consumption and large output. Other manufacturers include: Avalon, Yibite and so on.
Graphics card mining machine: At present, professional graphics card mining machines are slowly appearing on the market. Professional mining machine manufacturers include Zhanqi mining machine, Panda mining machine and so on.
3. The costs, benefits and risks of mining
Mining costs are divided into three categories:
Mining machine cost: The cost of the mining machine is a fixed one-time expenditure. The choice of the mining machine depends on the kind of currency that needs to be mined. From the hardware performance, a machine can work normally for at least 3 to 5 years, which means that the one-time investment of the mining machine , Under the condition of not skyrocketing computing power, at least 3 to 5 years of relatively fixed output can be provided. If you want to sell halfway, you can also find someone to sell it, but the price will be depreciated.
Cost of electricity price: The cost of electricity price is a long-term fixed output, so it is very important to find a place of production with low electricity price. For long-term investment, it is very important to choose cheap power resources in these places.
Other costs: site costs and labor costs are other costs, including the cost of machine failure and maintenance.
4. Mining income
The source of mining revenue is divided into two parts, namely the new block reward and the commission reward.
At the very beginning of Bitcoin, most of the rewards for mining are composed of new block rewards, and the handling fee is only a very small part. Accompanied by the mining mechanism of Bitcoin. The output is halved and the amount of transaction data increases, and the handling fee will slowly rise in the income. When the Bitcoin output is exhausted, it will all be composed of handling fees.
5. Mining risks are divided into three categories
Hash power skyrocketed:
The skyrocketing computing power is the biggest risk of mining investment. The increase in computing power leads to an increase in the difficulty of mining and a decrease in revenue. However, because competition cannot be avoided in the free market, the risk of increased computing power is acceptable.
Currency price fall:
When the currency price drops to a certain level, and the output income of mining is less than the electricity bill, there will be a loss. However, according to calculations, the electricity fee is 50 cents and the currency price (Bitcoin) is below 50,000. The current currency price (Bitcoin) is close to 100,000. Unless there is a special reason, it is very unlikely that the currency price (Bitcoin) will fall to 50,000 in the short term. Such as supervision.
System risk:
System risk is very common in Bitcoin, and the most common one is fork. The fork will cause the price of the currency to fall and the mining revenue will drop sharply. However, judging from the current situation, the fork actually benefits the miners. The forked altcoins also require the mining power of the miners to complete the process of minting and trading. In order to win more miners, the altcoins will provide more zones. Block rewards and fees to attract miners. Instead, risk has made miners.
Ethereum mining machine and mining revenue Total Ethereum and mining timeThe initial total is 72 million, with an annual increase of about 15 million. It is expected to be converted to a POS algorithm (not mining) in 2018. After the conversion to a POS algorithm, the output will decrease. Each block has 5 coins, and the daily output is about 40,000. The mining rate of isolated blocks is relatively high, and the difficulty is adjusted once for each block.
Ethereum mining machine selectionChoose a mining machine to look at computing power, power consumption, and historical reputation, including machine stability and after-sales service. Computing power is the ability of a machine to perform calculations, that is, how many hash calculations the machine can perform per second. The current mainstream Bitcoin mining machine has a computing power of 14T, which means 14*10^13 hash collisions per second.
Simple cost calculation formula: graphics card computing power ÷ graphics card price = computing power obtained for every 1 yuan. For example, if we have an rx 580 graphics card with 8 g memory, the hash rate of mining ether without overclocking is 2 2 mhz / s, and the price is 2 2 0 0 RMB, so the hash rate obtained for every 1 yuan is 22/ 2200=0.01, then the average computing power of 28.5mhz/s can be basically achieved after overclocking. In this case, the computing power obtained per 1 yuan is 28.5/2200=0.01295.
The hardware of the Ethereum mining machineEthereum mainly uses graphics card (GPU) for mining. You need to configure a multi-graphics PC to run the mining program. The main hardware includes: graphics card, motherboard, power supply, CPU, memory, hard disk (SSD above 60G is recommended), extension cable, adapter cable, etc. The graphics card determines the speed of mining, and the motherboard and power supply largely determine the stability of the mining machine.
Hardware preparation: Graphics card mining does not require a large PCIE bandwidth, and PCI-E 1X on the motherboard can meet the bandwidth requirements. Generally, the motherboard has 3-5 PCI-E 1X interfaces and one PCI-E16X interface. In addition, the large 4PIN power supply interface on the motherboard can improve the stability to a certain extent. PCI-E1X requires Taobao to purchase 1X to 16X extension cable.
Common graphics card computing power table for Ethereum mining:
Mining depends on the graphics core calculations, so AMD graphics cards are more efficient than NVIDA cards. Choose AMD card, the video memory of the graphics card is required to be greater than 2G, it is recommended to buy a 4G video memory card.
The computing power icon of common graphics cards:
AMD graphics computing power table:
After 2017, NVDIA cards have also begun to participate in mining, and the computing power is as follows:
After December 2017, the NVIDIA p106 6G card has the most cost-effective and has been sold out. At present, NV is launching p104, which has stronger computing power, but the price is too expensive. If there is no p106 graphics card, AMD card A574 (A574 4G) is preferred, because 4G supply is insufficient, A578 will be used in the future.
If it is a self-assembled and managed mining machine, the cost of the mining machine includes one-time investment in equipment costs and daily electricity operating costs; the income comes from the value of the mined digital currency.
Assuming that the mining machine is configured with "six gtx1060 6g graphics cards", the power is 850w, the electricity fee is 0.5 yuan/kwh, and when mining Ethereum ETH (current price is 2000 yuan), under the ideal situation that the currency price does not fluctuate at all, the mine It takes about 11 months to recover the cost of the machine. If the price of Ethereum ETH is 5000 yuan, the cost recovery is about 5-6 months.
The calculation process is as follows:
Fixed cost: The total cost is about 14,600 (graphics card: 12600=2100*6; other hardware costs: 2000)
Electricity fee: 306 yuan/month (=0.85*24*0.5*30)
Production value: 1600 yuan/month ($244.5, as shown below)
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