# Mining of small hydropower stations is illegal

## A. How many cake coins can be mined in one day

1. It will take 2000 years if you can’t mine in one day. The global unified computing difficulty of Bitcoin is 2621404453 (it is expected to change in two days), a 2.5GHz CPU, it takes more than 2000 years to calculate a Bitcoin.
2. “Mining” of graphics card If the graphics card is fully loaded for a long time, the power consumption will be quite high, and the electricity bill will be higher and higher. There are many professional mines at home and abroad in areas with extremely low electricity costs, such as hydropower stations, while more users can only mine at home or in ordinary mines, and electricity costs are naturally not cheap. There is even a case where people in a community in Yunnan carried out crazy mining, which caused a large area of ​​the community to trip and the transformer was burned.
Extension information:
1. The bitcoin network generates new bitcoins through “mining”. The so-called “mining” is essentially using a computer to solve a complex mathematical problem to ensure the consistency of the distributed accounting system of the Bitcoin network. The Bitcoin network automatically adjusts the difficulty of math problems so that the entire network gets a qualified answer about every 10 minutes. Then the Bitcoin network will generate a new amount of Bitcoin as a block reward to reward those who get the answer. When bitcoin was born in 2009, the block reward was 50 bitcoins. 10 minutes after the birth, the first batch of 50 bitcoins was generated, and the total amount of money at this time was 50. Bitcoin then grew at a rate of about 50 every 10 minutes. When the total amount reaches 10.5 million (50% of 21 million), the block reward is halved to 25. When the total amount reaches 15.75 million (5.25 million new output, which is 50% of 1050), the block reward will be halved to 12.5. The currency system used to have no more than 10.5 million for 4 years, after which the total number will be permanently capped at about 21 million.
2.Bitcoin is not zerocoin. Zerocoin can be mined with CPU. Bitcoin depends on the graphics card of your computer, and N card is not considered. The high-end A card is still cost-effective at present. , the following is a loss. I am very responsible to tell you that no one can mine Bitcoin with a personal computer. Bitcoin mining has gone through three stages: CPU – GPU – ASIC (professional mining machine) Professional mining machines require mining farms Managed computing power. If you want to know about Bitcoin, you can check it on Bihui.

## B. Can I mine with an iPhone?

The performance of the phone is too weak. Mining graphics cards bought by professional mining. I read an article before saying that this kind of mine is built next to a hydropower station because the electricity is cheap. Many graphics cards also consume a lot of power when running. Besides, Bitcoin mining profits are not as high as they used to be.

## C. I don’t know much about mining. Which mining machine is better?

Quantum mining machine was born, a multi-functional mining machine, which can mine Bitcoin and Ethereum. The high computing power is automatically converted into the high income of mining small coins, and the high income is automatically converted into USTD, which is JRWZ666666
1, a combination of various types of professional mining machines,
2, high income, short payback time ;
3. The USTD obtained by the operation of the mining machine can be exchanged for fiat currency on major trading platforms.
4 It solves a series of pain points of traditional absenteeism, such as high electricity bills, difficult transactions, and difficulty in cashing.
5 , 500USTD per unit, direct spot transaction.
6. High-yield currencies can be quickly switched according to the market.
7. Small currencies can be produced by switching with high computing power, and the income is guaranteed.
8. The mine is located in the Shenske Hydropower Station in Russia, no electricity fee, no custody fee
Advertising 2 hashrate cubes —- income guarantee across the bull and bear market!
Does it sound like a very magical project, and where is its magic
? At this point, everyone must be eager to learn
! Ok, let’s watch it together!
Quantum mining machine: It is a combination of the latest high-yield mining machines and a combination of all professional mining machines. Through the conversion of computing power, the ultra-high computing power of Bitcoin and Ethereum mining machines can be converted into high-yield mining. small currency, so as to obtain higher income!
Its magic: diversification, so that your wealth will never be monotonous!
The USDT generated by the operation of the mining machine can be withdrawn to the trading platform to exchange for fiat currency, can also be sold and realized on the computing power cube platform, and can also be transferred to other accounts.

## D. Is it illegal to mine bitcoin?

Not illegal.
“People’s Bank of China
Ministry of Industry and Information Technology
China Banking Regulatory Commission
China Securities Regulatory Commission
China Insurance Regulatory Commission on Preventing Bitcoin Risks “Notice” (Yin Fa [2013] No. 289) In addition to clarifying the attributes of Bitcoin as a virtual online commodity, the “Notice” mainly clarifies the following contents:
First, it is clearly required that financial institutions and payment institutions at this stage shall not carry out For Bitcoin-related business, it is not allowed to use Bitcoin as product or service pricing, not to buy or sell or to trade Bitcoin as a central counterparty, or to underwrite Bitcoin-related insurance business or to include Bitcoin in the scope of insurance liability, etc.
Second, Internet sites that explicitly require services such as bitcoin registration and transaction.�� When filing with the telecommunications management agency, and earnestly perform anti-money laundering obligations, identify user identities and report suspicious transactions.
Third, it is clearly required that relevant departments, financial institutions, and payment institutions use the concept of currency correctly in their daily work, and pay attention to strengthening the education of the public’s currency knowledge. Concepts such as investing, reasonably controlling investment risks, and maintaining one’s own property safety are included in the content of financial knowledge popularization activities, and guide the public to establish correct currency concepts and investment concepts.
(4) Extended reading of the illegal mining of small hydropower stations:
The “Notice” requires that at this stage, all financial institutions and payment institutions shall not use Bitcoin as a price for products or services, and shall not trade or trade as a central counterparty Bitcoin, shall not underwrite Bitcoin-related insurance business or include Bitcoin in the scope of insurance liability, and shall not directly or indirectly provide customers with other Bitcoin-related services.
Including providing customers with bitcoin registration, trading, clearing, settlement and other services; accepting bitcoin or using bitcoin as a payment and settlement tool; developing bitcoin, RMB and foreign currency exchange services; developing bitcoin storage and custody , mortgage and other businesses; issue bitcoin-related financial products; use bitcoin as an investment target for trusts, funds, etc.
The “Notice” stipulates that the Bitcoin Internet site, which is the main Bitcoin trading platform, shall be filed with the telecommunications management agency in accordance with the provisions of the “Regulations of the People’s Republic of China on Telecommunications” and the “Administrative Measures for Internet Information Services”.
At the same time, in view of Bitcoin’s high risk of money laundering and the risk of being used by criminals, the “Notice” requires relevant institutions to effectively perform customer identification and suspicious transaction reporting in accordance with the requirements of the Anti-Money Laundering Law of the People’s Republic of China and other statutory anti-money laundering obligations to effectively prevent money laundering risks related to Bitcoin.
Reference source:
China Government Network – People’s Bank of China and other five ministries and commissions issued a notice on the prevention of Bitcoin risks 》

## E. What do miners and mining mean

“miners”: workers who mine. is a noun.

“Mining”: Mining minerals. is a verb.

## F. How much is the electricity bill of a Bitcoin mining machine per day

Taking the mining machine T2T-30T as an example, the mining machine’s computing power of the T2T-30T is 30T, The power consumption is 2200 watts, that is, 2.2 kilowatts. The power consumption of a single mining machine in 24-hour operation is: 2.2 kilowatts * 24 = 52.8 kWh. The cost is: 52.8*0.56=29.57rmb.

The power consumption will be quite high when the graphics card is fully loaded for a long time when “mining” with a bitcoin mining machine, and the electricity bill will be higher and higher. There are many professional mines at home and abroad in areas with extremely low electricity costs, such as hydropower stations, while more users can only mine at home or in ordinary mines. A case of a large area of ​​the community tripping and the transformer being burned.

(6) Small hydropower station mining illegal extended reading

The principle of Bitcoin mining machine mining:

Bitcoin The mining and node software mainly initiates zero-knowledge proof and verification transactions through peer-to-peer networks, digital signatures, and interactive proof systems. Each network node broadcasts transactions to the network. After these broadcasted transactions are verified by miners (computers on the network), miners can use their own work proof results to express confirmation, and the confirmed transactions will be packaged into data blocks , the data blocks are strung together to form a continuous chain of data blocks.

Each Bitcoin node will collect all unconfirmed transactions and collect them into a data block. The miner node will attach a random adjustment number and calculate the SHA256 hash of the previous data block. Column operation value. The mining node keeps trying again and again until it finds a random adjustment that makes the resulting hash value lower than a certain target