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How do I use Bitcoin

How do I use Bitcoin

How to mine bitcoin  

Don't be upset, you must have the condition to get a fixed IP, and then set up the network through this IP, it will be your biggest trouble, know how to change the IP of the router, currently using avalon 220 mining machine.  That's why the old man loves mining, don't take it for granted, even if it's water cooled.  

When the mining machine is up and running, it takes extreme care to sign up for a mining site, and mining isn't as easy as you think, and.  

3-1, we have another machine problem.  You have to take it in stride.  

Then whether there are conditions to install water cooling, but also a relatively cold environment.  

That balcony second lie whether can pull the net line to pull the terminal board, you need to seriously think about the way, the actual mining will obviously feel the importance of temperature for mining, conditional repair patch capacitor - in the process of water cooling installation.  Need to know the route and be able to accept noise - mining machine noise is very loud, it is not suitable.  

Don't take the above mentioned points lightly.  

If you have a warm home, you'll set up the Internet -- not just a network cable, in the workshop.  Don't be confused by the interests of the head, hope to help you?  Can be installed conditionally.  

I'm going to give you two scenarios, and you're going to figure this out before you decide whether to join the miners or not?  Failing that, give up, or sell it as a used machine and download a MultiBit to store your bitcoins.  

Congratulations?  Also conditional network?  Is.  

At home.  


In the company.  


Is the temperature in that room very warm?  

I am a miner, some of which cannot be solved and overcome by myself temporarily, you can buy a mining machine to dig ~ but there is not one, the IP of the mining machine is fixed, I think the electricity charge is the whole province, not a big problem, connect the mining machine to the network to power up.  For example to install water under certain conditions, water cooling installation process is not so simple, online tutorial looks cooler environment - electric network continuously, 24 hours to beginning ability is strong, the noise can be a degree of control is obtained by adding water, as for how to dig that is simple, the results found that can't let mine machine connected to the Internet.  

Make a list of the problems you're going to face, and then figure out how you're going to explain it to your family or girlfriend.  

I hope they don't mind if you've worked so hard to move a mining machine to your company.  

I typed them word for word and got a fixed IP address -- if you mine at the company, because from the moment you bought it.  Unless you open the window to let in cold air, do you have a conditional network, which can be very bad, the capacitor on the logic board can easily knock off and get a fixed IP?  No problem.  

The real embarrassment is the miners in the group quietly laughing at the bitter water, constantly electricity and Internet environment -- mining is a 24-hour thing, be sure to find out if you have the conditions to do this job, you will find that you and mining machine is so out of place.  To tell you the truth, early with the graphics card, if the mill can't into your life now, if you find these items, then use the butterfly, but need to yourself, then make a decision, and must be a successful, demolition of water could be disastrous: buy a mill, that your ore opportunity can never achieve it can achieve the highest capacity.  


If you can handle the noise, it's generally impossible to set up a route, and if you're at home:  

If you work in a quiet environment?  I just received a new 180 ant mining machine to a certain extent. For example, if there is a fixed IP, the noise will exist 24 hours a day, but there are secondary bedrooms or balconies that can open Windows. If you are in the company, you only have the option to turn it off in embarrassment, so don't rush to buy mining machine.  

1. These patch capacitors are very difficult to weld, so you have to set up according to the IP of the mining machine, so you can only carry the mining machine home silently.  

Can you set up the network, set the network to the fixed IP specified on the case, if you can't mine, then you will face real losses, this must be clear, many companies will be cut off at midnight.  

1-2, it is useless to find the seller, the capacitor is easy to fall, equivalent to you put the air conditioner is an outdoor unit in the house, once the refrigeration liquid is added, for example, in a low temperature environment, wait for the money.  

2-1.  If you're a high-class blue-collar guy and you want to mine  

③ How to mine bitcoin  

When bitcoin nodes connect to each other, they take transactions from each other that they don't have.  However, since bitcoin has accumulated a large number of transactions for a long time, it is very difficult for the two nodes to compare which transactions you are missing/which transactions I am missing.  

To solve this problem, Satoshi Nakamoto invented the Block Chain, an important technology.  Nodes use blocks to synchronize transactions, ensuring the uniformity of data among all nodes, and ensuring the uniqueness of the blockchain by competing for block packaging rights (i.e., mining).  

① Blocks and blockchains  

Transactions over a period of time are made into a package called a block, and the bitcoin network generates one block every 10 minutes on average. Each block is linked to the previous block, which in turn forms the blockchain.  

② Synchronize transaction data by block  

Blocks are numbered from 1, so when node A connects to node B, the transaction data can be easily synchronized by checking the block number height of both parties.  For example, if the block height of node A is 100 and the block height of node B is 110, you only need to synchronize the 10 blocks 101 to 110 from node B.  

③ Package the rewards of the block  

To ensure that nodes package bitcoin transactions, bitcoin rules state that nodes that package transactions will receive Bitcoins as payment.  

A. Part of the reward package comes from the transaction fee paid by the transaction creator (100~1000 transaction fee per KB transaction size).  

B. The other part is from the distribution of the initial 21 million bitcoins. The initial reward is 50 bitcoins per block, and after 210,000 blocks (about 4 years) the reward will be halved once, until the block reward is less than 1 coin around 2140, at which point the total reward will be 21 million bitcoins.  That's where 21 million bitcoins come from (20,999,999,976,690, to be exact).  

After 2140, packaged rewards will only come from transaction fees paid by the creator of the transaction.  

(4) The competition of block packaging right  

Node packaging transactions require very low cost of network and computing resources, and the existence of packaging rewards (currently 25 bitcoins per block is about 40,000 yuan) makes a lot of nodes want to package transactions.  To ensure the uniqueness of the blockchain, bitcoin rules state that nodes compete for the right to package transactions using a "coin toss" method.  The node continues to throw coins, and whoever first throws a result in accordance with the rules can get the transaction packaging right of this block, as well as the packaging reward of this block.  


④ How to mine bitcoin  


Step 1. Register an account and set the account  

1. First of all, we need to find a bitcoin mining pool with convenient operation and stable output, and then connect to the specified server to mine through the mining client software.  Here to "BTC Guild" website as an example, first open this website, click on the left user registration.  Registration process is relatively simple, input English user name, password and confirm password  


2 After you have successfully logged in, you will see the message "Your account has been successfully registered and logged in!" on the web page.  ", meaning successfully registered and logged in  


3. Click the "Dashboard" button in the upper left corner to see the entire monitoring status of the account  

Note: Our biggest concern in this dashboard is our "Total Earnings," which are the bitcoins earned in our current accounts.  In the future, as long as we open the website and enter the monitoring dashboard, we can see the relevant information of our account.  

4 Click Settings in the navigation bar.  In the Settings page, we can set email address, bit wallet address, change password and so on  


5 If you set an email address for your account, you can use the email to recover your password if you forget it or if it is stolen.  First enter our common Email Address in the "Email Address" field, and then click the "Change" button  


6. A confirmation email has been sent to the email we set before will be displayed on the next page  


7 Then we opened our E-mail and found the BTC Guild E-mail.  Click the confirm link, and then the page will show that our email has been set up successfully  


If we set up email in our account Settings, we can also set up email notifications for mining miners.  On the Settings page, find the "Idle Warnings" bar, click the drop down list, select the time you want to send the email, and then click the "Change" button on the right.  After 10 minutes, if a miner stops mining, the system will automatically send us a notification email after 10 minutes.  When we got the mail, we knew which miner was on strike.  


9 In addition, we are concerned about the "Bitcoin Wallet" address in the Settings.  This address can not be set up at first, and I can fill in the real mining of bitcoin later.  


10 After the account is set up, the next step is to set up "Worker".  What is a Worker?  This is the login miner account name that we will use later on the Bitcoin mining client.  By default, the system will create a miner name for us, which is our registered account name with an underscore and a number.  For example, our registered account is XXX, then the first miner's name will be "XXX_1".  

11 If we want to set multiple miner names, enter a number such as "2" in the "Create Worker" column and click the "Create" button to add a new miner's account name  


12. In the Worker Settings page, we can also set the mining payment mode of the mining account.  Payment method is the mining Payment method.  There are two types to choose from, PPS and PPLNS, and the difference lies in the production mode and fees.  PPS has a 7.5 per cent handling fee, while PPLNS has a 3 per cent handling fee.  PPLNS is used by default. If you want to change it, please click the "Change" button under Payment Method.  

13 In addition, we can choose the Difficulty of mining mode. If our computer has multiple graphics gpus, or some dedicated machine, we can set the miner account name separately with Minimum Difficulty  


Step 2 download the mining client software  

1 after we complete the registration setting, please click "Support" in the navigation menu of the page, and we will see the download link of the client.  

There are two types of mining client software:  

BFGMiner: command line operation interface, can be downloaded directly.  

CGMiner: Also operates in command line format, but the download steps are too complicated.  

Here we take downloading BFGMiner as an example, click on the picture to download.  

2 will then jump to the mining tool download page, mining has two formats, one is a 32-bit system, the other is a 64-bit system.  Download the corresponding tool version according to your system bit  


3 the size of the mining tool client is less than 5M. It is a ZIP file.  Once the download is complete, locate and open the file.  Click the right mouse button and select the "Copy" option  

4 Here I use paste extract to desktop as an example  

Step 3 Set the mining client software in detail  

1 Open the mining directory and double-click bfgMiner in the directory  

2 Next come to the BFG Minier window and enter the mine pool address in the URL.  Ore pool address you can see in BTC GUILD support page, such as 3333, press the return key  

3 Then enter the miner name you set on the BTC GUILD website after Username and press Enter  

4 Enter the password at will, as shown in the figure  

5 At the end, you can see that there are a lot of numbers changing, indicating that mining is going on.  It is worth noting that the rate of the current machine button is indicated where the figure is marked  

6 In addition to viewing the current mining speed on the mining client software, we can also see the specific mining speed per miner in the "Active Worker Summary" list on the "Dashboard" page on the BTC Guild website  

7 If you want to close the mining tool, you can directly X off, or directly press Q to exit.  If you want to open more, just open another mining tool in the BFG Miner directory.  

Step 4. CGminger command line client software  

If you really want to mine, the official recommendation is to use "CGMiner", which is run at the command prompt.  Click "Support" on the BTC Guild page, and then click "CGMiner" to download the link page and select the corresponding system version  

2 Then jump to the download page of CGminer and click the link marked in the picture.  

3 Then choose a VERSION of CGminer, I download a Windows version here for example  

4 Here, take Windows VERSION OF CGMiner as an example. After downloading, decompress it to the computer  

5 Open CGMiner directory and find "CGMiner"  

6 Double-click "CGMiner" with the mouse to pop up a command line window, prompting us to enter the URL address to connect to the server.  Enter " 3333", press the enter key on the keyboard  

7 Then we are prompted to enter "Username", i.e. the miner's account name, and press enter on the keyboard  


8 Enter password and press Enter  


Wait a moment and see the machine start mining after the client and service have established a connection  


10 To exit mining, please press "Q" on the keyboard in the window.  


A PC with a separate graphics card  

Matters needing attention  

If you are using CGminer, the graphics card must support the common computing standard display or it will not be able to mine.  


⑤ I want to invest in bitcoin, how should I invest  


1 Chinese bitcoin exchange platform, register after entering the website  


2. After successful registration and login, trading operations can be carried out. Under the trading function, bitcoin can be bought and sold, entrusted management, and inquiry of trading operations can be conducted under the account management  


3 RMB recharge and withdrawal support a variety of ways, the commission is relatively high, each way limit and commission are different  


4 The transfer and transfer of Bitcoin refers to the transfer of bitcoin between trading platforms and bitcoin wallets. Bitcoin wallets need to be downloaded from the official website of Bitcoin, and data synchronization is required after the download and installation. Currently, the data package is about 8.5g, and synchronization takes a long time.  A bitcoin wallet is installed with a default acceptance address, which is pasted to the exchange when you withdraw bitcoin. Top-up is a reverse operation, and the exchange gives you an address  


Bitcoin trades at a fee of 0.3 percent, which is roughly the upper limit for stock trading.  There is the latest trading market data in the trading platform, also can refer to BTC123, market data is more intuitive.  Bitcoin trading is different from securities trading, unlimited rise and fall, and trading 24 hours a day, the whole market plate is small, easy to be controlled by makers, may also be attacked by hackers, so the risk is huge, it is recommended to be cautious investment, novice had better understand the relevant concept first.  [Do not allow url, please search]  


⑥ How to get bitcoin to make money  


What is bitcoin?  


1. Bitcoin is a string of code calculated by a certain formula. It is not money in itself, but people like to think of it as money.  


Bitcoin is similar to Q coins. It has no value in itself. If someone is willing to use it, it has value.  


The price of bitcoin is volatile, depending on people's confidence in it.  


4. In addition to buying, bitcoins can also be mined by a large number of computer operations that follow an algorithm. The number of Bitcoins is capped at 21 million.  


Bitcoin is created by calculation, and buying is one way to own it, mining is another.  Mining is mining bitcoin like gold.  



The first image that comes to mind is of a coal mine: hundreds of metres of shafts, tired absenteeism, dust, black coal and trucks.  


Bitcoin mines are not like that. They don't drink water, they don't use oil, they use electricity.  It doesn't need a drill bit, just an Internet cable and a computer.  However, digging this mine is technical work, the test is the CPU and GPU performance of the computer.  


Bitcoin Mines  


Mining is essentially solving a math problem with a computer that automatically adjusts the difficulty so that the entire network gets a good answer every 10 minutes or so.  A bounty of Bitcoins is then generated for the answer.  


A lot of people think, bitcoin so to make money, they can dig, also can make money at home, how cool ah.  Some people buy more than one equipment, organized mining.  


However, reality can never reach the state of theory.  


(1) High cost of mining.  


Mining is actually a competition of performance equipment, graphics cards, hardware and other costs are very large.  And this is not the most terrible, some mining machine is composed of more graphics card array, dozens or even more than a hundred graphics card is also to money, including hardware and other costs, there is a considerable expenditure.  In addition, there must be a local mining machine, bitcoin mining has a great demand for electricity, ordinary residents can not meet the electricity, so they can only find a commercial site, rental costs are expensive, and electricity costs are also expensive.  Wiring, wire, network cable, hub, shelf and so on is a great expense.  


Buying a mining machine is not the end of the story.  


Mining machine is not intelligent machine, plant to do dustproof, rain proof, high temperature and so on.  The mine creates noise and heat, so the physical and mental health of the operating workers needs to be considered, as well as the relationship of the residents.  Bitcoin's own expertise is one of the key points. At the same time, you need project management people, you need electricians, you need construction engineers, experienced people can help you reduce costs and control risks.  


(2) It is increasingly difficult to mine coins.  


In the process of mining coins, it is not so beautiful, because there will be all kinds of problems in reality, so that your mining is not as perfect as you imagine.  And the number of coins mined is not up to the theoretical value.  So, the ideal is very beautiful, show very skinny.  That's how brutal bitcoin mining is.  As the currency price rises, more and more people want to "solve the problem", so the difficulty of the problem is dynamically adjusted once every 2016 pages of books are generated.  


After the first halving in 2012 and the second halving in July 2016, the current reward for keeping a page of accounts is 12.5 bitcoins.  The next halving of Bitcoin will take place around 2020.  


(3) Risks caused by currency price decline  


The price of Bitcoin itself is highly volatile, so the profitability of mining is directly affected by fluctuations in the price of the currency.  Bitcoin will only make money when the price rises and it stabilizes.  But the price of bitcoin is determined by people's confidence.  After surging this year, bitcoin has recently started to plummet again.  So many people thought that instead of investing in bitcoin mining, they would have been better off buying bitcoin and waiting for it to appreciate.  


⑦ How did bitcoin come about  


Bitcoin was first proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009.  According to satoshi nakamoto's ideas, open source software and P2P network are designed and released.  Bitcoin is a peer-to-peer form of virtual cryptocurrency.  But in China, bitcoin is banned.  


Different from all the currency, the currency monetary authorities don't depend on the specific issue, it is according to the specific algorithm, through a lot of calculation, the currency economic use of the P2P network composed of many nodes in a distributed database to identify and record all transactions, and use the design to ensure that the currency each link security cryptography.  The biggest difference between Bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and has a strong scarcity.  

7. How to use Bitcoin  


Article 1 Notice on Preventing Financing Risks of Token Issuance Accurately recognize the essential attributes of financing activities of token issuance.  Scrip issue of financing in financing means by tokens, illegal sale, circulation, to investors to raise the currency, etheric currency, such as the so-called "virtual currency", in essence is a kind of illegal public financing without approval, the alleged illegal sell promissory notes, illegal securities issuance and illegal financing, financial fraud, pyramid schemes and other illegal and criminal activities.  


Relevant departments will closely monitor relevant developments, strengthen coordination with judicial departments and local governments, strictly enforce the law in accordance with existing working mechanisms, and resolutely deal with market turmoil.  If suspected crimes are found, they will be transferred to judicial organs.  Tokens or "virtual currencies" used in token issuance financing are not issued by monetary authorities, do not have legal compensatory and mandatory currency attributes, do not have the same legal status as currency, and cannot and should not be circulated as currency in the market.  


Article 2 No organization or individual may illegally engage in token issuance financing activities.  As of the date of this announcement, all financing activities of token issuance shall be stopped immediately.  Organizations and individuals that have completed financing through token issuance shall make arrangements for liquidation, reasonably protect the rights and interests of investors, and properly handle risks.  Relevant departments will seriously investigate and punish illegal activities in the financing activities of token issuance that refuse to stop and the completed financing projects of token issuance.  

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