Mining machine mining uses computer hardware, relying on the Bitcoin network, and multiple graphics cards to perform mathematical calculations, thereby generating a large amount of mining coins. Mining actually mainly relies on the performance of computer hardware. Dozens of graphics cards forming an array will greatly enhance the speed and capabilities of mining. The configuration of the mining machine is different, and the computing power is also different.
As we all know, currency itself has no value. At first, humans used barter to trade, but there were many inconveniences and it was difficult to exchange for the items they needed. So currency came into being. Through currency as an intermediary, different items can be priced according to their rarity and the transaction process can be simplified. Although currency trading has many benefits, it also has a fatal drawback, which is centralization. 100% of the world's existing currencies are issued or abolished by the national central bank. Ordinary people cannot participate in currency issuance or central bank accounts. If the central bank continues to issue currency, it will continue to dilute the currency in people's hands and reduce the purchasing power of currency.
This is by no means alarmist. Such incidents have already occurred in some countries around the world. Take Zimbabwe, for example. In recent years, the government has issued a large amount of excessive currency, which has led to the near collapse of Zimbabwe's economy. In the end, the US dollar had to be introduced as the local legal currency.
Now Zimbabwean economists are considering Bitcoin alternatives. Bitcoin is like this movie. It does not exist in a central server like a central bank, but in billions of computers around the world. Since its issuance, in theory, no one can control the number of Bitcoins, nor can it artificially manipulate the currency value by manufacturing Bitcoins in large quantities. The design based on cryptography allows Bitcoin to be transferred or paid only by the real owner, with excellent security.
Bitcoin is the concept of cryptocurrency proposed by Satoshi Nakamoto in 2008 and was officially born in 2009. Bitcoin is a virtual digital cryptocurrency based on open source software and P2P network. This is a peer-to-peer payment system that implements a decentralized construction form. Bitcoin does not rely on any currency issuing institution. It is generated in the virtual network through a large number of calculations based on specific calculation methods. Bitcoin is suitable for the transaction model of distributed databases, and at the same time, corresponding encryption is set based on cryptography in each circulation link, thereby strengthening the security and authenticity of Bitcoin and facilitating transfer and payment.