Dig Bitcoin to bring shovels to dig like coal, dig gold?
Bitcoin is like gold in the virtual world of internet. Gold, Bitcoin or currencies in general are intermediaries to exchange goods around the world.
For example, you have bread, and you want milk. You can change it directly, but it's a bit inconvenient, because cows do not always want your bread, they need something else. So you swap bread for gold (sell) and bring gold for milk (buy).
Before using gold, people used a variety of tools such as shells, turtle shell, stone, leaves ... But these tools have some disadvantages such as: bulky, difficult to split, easy Easy to grow, or pick up.
So finally, gold has been chosen as a universal tool, as gold is easy to carry, easy to split up, easy to maintain (less oxidized gold) and can not create more in the world but only in quantity. limited.
Similar to Bitcoin, it's safe, easy to split (you can divide a bitcoin into countless pieces), easy to trade, and most importantly Bitcoin globally is a finite number as well. 21 million units, computers will not be able to dig up Bitcoin anymore.
So Bitcoin has been chosen by many people as a trading tool on the internet. In the past, Bitcoin has developed rapidly and spread to many different countries and economic sectors.
Digging Bitcoin how?
Basically Bitcoin digging is a process whereby the "diggers" compete to find answers and answers to solve a difficult problem. The difficulty of the problem is automatically corrected so that on average every 10 minutes there will be a peasant (or group of people) scattered around the world solving a block.
This problem can be understood as analogous to lottery tickets, buying as many numbers as possible, the higher the chance of winning, the work of Bitcoin diggers is trying to figure out the winning number by guessing. Out billions of "lottery tickets" per second. It is not just one person but a whole network of peers to do this work together.
In fact, everyone can dig up Bitcoin by joining Bitcoin's network. Then your computer will be called a "Bitcoin miner". If we normally exploit gold by digging underground and filtering raw ore, Bitcoin is exploited by using computers to solve algorithms.
If you use gold with modern machinery, the number of workers, you will have a lot of gold. If you only dig yourself with a pea, you will have little or sometimes nothing.
Likewise, Bitcoin digging requires powerful and interoperable computers; if you dig up Bitcoin with your personal computer and do it alone, you will not get enough money to pay for electricity and Machine wear and tear.
Of course, as technology and technology are getting better and better, diggers' computers are getting faster and faster, leading to increased difficulty.
Start by using the modest power of your personal computer - called the CPU, then the "miners" discover that using a graphics card (GPU) to exploit will be profitable and more effective, To set up multiple graphics cards on the same computer will add even more power.
With Bitcoin being widely supported and growing in value, a device dedicated solely to Bitcoin exploitation: Application Specific Integrated Circuit (ASIC). ASIC is a chip with decent performance power compared to CPU and GPU. As a result, ASIC is the choice to protect the best Bitcoin network so far.
2013 is a year of ASIC technology as many companies enter the race to create the chip with the greatest power. But it all focuses on optimizing performance and ignoring the cost of power for Bitcoin.
Because the cost of power generation for digging Bitcoins is so great, many groups of miners have linked up and built a data center called Bitcoin Mining in low-cost locations, In Iceland (Genesis Mining) or Xinjiang - Tibetan region ...
And if Bitcoin digging is up to luck, but if you equip yourself with a system that's as large as a warehouse, then the probability of luck will certainly be much larger, just like you plot numbers. In Vietlott when the jackpot hit rate will be somewhat higher.
Huyen My
According to Young Learners
Bitcoin is like gold in the virtual world of internet. Gold, Bitcoin or currencies in general are intermediaries to exchange goods around the world.
For example, you have bread, and you want milk. You can change it directly, but it's a bit inconvenient, because cows do not always want your bread, they need something else. So you swap bread for gold (sell) and bring gold for milk (buy).
Before using gold, people used a variety of tools such as shells, turtle shell, stone, leaves ... But these tools have some disadvantages such as: bulky, difficult to split, easy Easy to grow, or pick up.
So finally, gold has been chosen as a universal tool, as gold is easy to carry, easy to split up, easy to maintain (less oxidized gold) and can not create more in the world but only in quantity. limited.
Similar to Bitcoin, it's safe, easy to split (you can divide a bitcoin into countless pieces), easy to trade, and most importantly Bitcoin globally is a finite number as well. 21 million units, computers will not be able to dig up Bitcoin anymore.
So Bitcoin has been chosen by many people as a trading tool on the internet. In the past, Bitcoin has developed rapidly and spread to many different countries and economic sectors.
Digging Bitcoin how?
Basically Bitcoin digging is a process whereby the "diggers" compete to find answers and answers to solve a difficult problem. The difficulty of the problem is automatically corrected so that on average every 10 minutes there will be a peasant (or group of people) scattered around the world solving a block.
This problem can be understood as analogous to lottery tickets, buying as many numbers as possible, the higher the chance of winning, the work of Bitcoin diggers is trying to figure out the winning number by guessing. Out billions of "lottery tickets" per second. It is not just one person but a whole network of peers to do this work together.
In fact, everyone can dig up Bitcoin by joining Bitcoin's network. Then your computer will be called a "Bitcoin miner". If we normally exploit gold by digging underground and filtering raw ore, Bitcoin is exploited by using computers to solve algorithms.
If you use gold with modern machinery, the number of workers, you will have a lot of gold. If you only dig yourself with a pea, you will have little or sometimes nothing.
Likewise, Bitcoin digging requires powerful and interoperable computers; if you dig up Bitcoin with your personal computer and do it alone, you will not get enough money to pay for electricity and Machine wear and tear.
Of course, as technology and technology are getting better and better, diggers' computers are getting faster and faster, leading to increased difficulty.
Start by using the modest power of your personal computer - called the CPU, then the "miners" discover that using a graphics card (GPU) to exploit will be profitable and more effective, To set up multiple graphics cards on the same computer will add even more power.
With Bitcoin being widely supported and growing in value, a device dedicated solely to Bitcoin exploitation: Application Specific Integrated Circuit (ASIC). ASIC is a chip with decent performance power compared to CPU and GPU. As a result, ASIC is the choice to protect the best Bitcoin network so far.
2013 is a year of ASIC technology as many companies enter the race to create the chip with the greatest power. But it all focuses on optimizing performance and ignoring the cost of power for Bitcoin.
Because the cost of power generation for digging Bitcoins is so great, many groups of miners have linked up and built a data center called Bitcoin Mining in low-cost locations, In Iceland (Genesis Mining) or Xinjiang - Tibetan region ...
And if Bitcoin digging is up to luck, but if you equip yourself with a system that's as large as a warehouse, then the probability of luck will certainly be much larger, just like you plot numbers. In Vietlott when the jackpot hit rate will be somewhat higher.
Huyen My
According to Young Learners