Bitcoin mining machinery catalogue
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Content:
- Robot or human?
- Bitcoin Mining’s Days Are Numbered in One China Province
- Mining rig maker Canaan argues against wholesale crackdown on bitcoin mining in China
- Pardon Our Interruption
- BEST Bitcoin Mining Software App: Free Crypto Miner (Feb 2022)
- It’s time for a FTC Blockchain Working Group
- The environmental cost of cryptocurrency mines
- The chip shortage is pitting bitcoin miners against gamers
Robot or human?
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. Pay close attention to eliminate "mining" Virtual currency "mining" activities have been officially listed as eliminated industries. The website of the national development and Reform Commission recently announced that the decision of the national development and Reform Commission on Revising the Guiding Catalogue for industrial structure adjustment version has been deliberated and adopted.
Add item 7 to "I. Recently, the Discipline Inspection Commission of Wuyi County, Zhejiang Province established a special supervision group to go deep into relevant functional departments and organs and units to carry out special inspection on the use of public resources to participate in virtual currency "mining" and trading through remote monitoring and technical verification.
The picture shows the special inspection team using the big data intelligent security analysis platform to understand the relevant situation in the county big data center. Ji wenshe Since last year, China's virtual currency regulatory policy has continued to increase, clearing and returning "mining" activities and banning relevant business activities. The national development and Reform Commission and other 11 departments issued the notice on regulating the "mining" activities of virtual currency hereinafter referred to as the "notice" , requiring to strengthen the supervision of the whole industrial chain upstream and downstream of the "mining" activities of virtual currency, prohibit the addition of "mining" projects of virtual currency, and accelerate the orderly exit of stock projects.
Ten departments such as the people's Bank of China have also made it clear that virtual currency does not have the same legal status as legal currency, and relevant business activities belong to illegal financial activities. What does it mean that "mining" is listed as an eliminated industry? Under the background of promoting the optimization of industrial structure and striving to achieve the goal of carbon peak and carbon neutralization as scheduled, what is the practical significance of regulating the "mining" activity of virtual currency?
The reporter interviewed Deng Jianpeng, Professor of the Law School of the Central University of Finance and economics and director of the Research Center for the rule of law in financial science and technology, and Guo Yungao, Secretary General of the special committee for energy storage equipment technology of China Electric Power Technology Market Association. Attracted by the wealth effect, "mining" is chased by capital.
Some enterprises layout the "mining" business of virtual currency under the banner of developing high and new technologies such as blockchain Reporter: what is virtual currency "mining"? What is its background? Deng Jianpeng: in short, the "mining" activity of virtual currency refers to the process of calculating and producing virtual currency through a special "mining machine".
The virtual currency represented by bitcoin is a decentralized blockchain system, which requires network nodes to operate and maintain, package and link the transaction information at each specific time, and obtain the virtual currency issued by the system as a reward.
The virtual currency system uses people's self-interest obtaining virtual currency as economic incentive to achieve altruism operation and maintenance system and improving system security. The individuals or institutions running these network nodes are commonly known as "miners" in the industry, and these computing nodes are "mining machines". Reporter: for some time, the "mining" industry has been hot. What are the driving factors?
Deng Jianpeng: since , the prices of some virtual currencies such as bitcoin have soared, and "mining" has become a profitable and even profiteering industry. Attracted by the wealth effect, the "mining" industry is chased by some capital. Some enterprises have arranged the "mining" business of virtual currency under the banner of developing high and new technologies such as blockchain.
In order to promote investment promotion, some local governments have also given these "mining" enterprises preferential policies in terms of finance, taxation and electricity price. Since the second half of , the price of virtual money market represented by bitcoin has risen rapidly due to the effect of halving production.
At the same time, blockchain decentralized Finance known as "defi" in the industry launched various "liquidity mining" that claimed to have high returns; Some investment institutions in Europe and the United States have heavy positions in mainstream virtual currencies because of concerns about the devaluation of the US dollar caused by the US Federal Reserve's issuance of additional US dollars due to the epidemic; Individual well-known overseas people "shout orders" for specific virtual currencies.
These factors jointly promote the further sharp rise of the price of mainstream virtual currencies in the first half of This also caused many domestic "retail investors" to rush into the market, with a high concentration of financial risks.
The blind and disorderly development of virtual currency has a serious adverse impact on promoting high-quality economic and social development and energy conservation and emission reduction Reporter: what adverse effects will mining have? What are the main problems?
Deng Jianpeng: the "mining" represented by bitcoin needs huge electric energy, which belongs to a high energy consuming industry. In order to improve the computing power and increase the probability of competing for the bookkeeping right of bitcoin blocks, thousands of "mining machines" have gathered together to form a super large-scale "mining pool" in recent years.
The abnormal development of the "mining" industry and the enhancement of the computing power of the bitcoin system have also led many domestic retail investors to join the army of "speculation", and the possibility of the spread of financial risks has been accumulating and amplified. The frequent position explosion risk in the virtual currency trading market will also affect the traditional financial market, impact the stability of China's financial market, and then affect the national financial security.
For the risks shown by the virtual currency "mining" industry, the relevant regulatory authorities have previously issued some warnings and requirements. In January , the office of the leading group for the special rectification of Internet financial risks issued a document requiring all localities to guide enterprises within their jurisdiction to withdraw from the "mining" business in an orderly manner.
On May 21 last year, the financial stability and Development Commission of the State Council held its 51st meeting and once again made it clear that we should resolutely prevent and control financial risks and crack down on bitcoin "mining" and trading. However, attracted by the rapid rise in bitcoin prices and the introduction of such projects by some local governments for the purpose of increasing employment, virtual currency "mining" has been existing in the market.
Guo Yungao: virtual currency "mining" is a high energy consuming industry, wasting power resources and increasing the total energy consumption of the whole society, resulting in an unreasonable increase in carbon emissions, which runs counter to the goal of carbon peak and carbon neutralization.
The output value is almost worthless, and the financial risks in the links of product exchange and transaction are also great. In a sense, it is equivalent to walking on the edge of law and crime. In general, the risks derived from the production and trading of virtual currency are becoming more and more prominent.
Its existence and development are not conducive to social and economic development. Its disorderly and blind expansion has a serious adverse impact on promoting the synergy of energy conservation, pollution reduction and carbon reduction and high-quality development. Reporter: since the end of last year, the shortage of power supply in some places has aroused concern. What is the energy and power consumption of bitcoin mining?
Guo Yungao: virtual currency "mining" consumes a lot of energy. According to the research of alternative finance research center of Cambridge University, as of May 10, , the annual power consumption of global bitcoin "mining" is about In January last year, the Iranian government accused bitcoin of "mining" behavior, which led to the interruption of power in the country. This is also the main reason why China's "mining" activities are mostly concentrated in Xinjiang, Inner Mongolia, Sichuan, Yunnan, Guizhou and other regions with relatively cheap electricity prices.
The huge energy consumption of "mining" also exacerbated the shortage of power supply in some parts of China last year and expanded the scope of local power restriction. Last April, scholars from the Chinese Academy of Sciences and Tsinghua University published the policy assessment of carbon emissions and sustainability of China's bitcoin blockchain operation.
Without policy intervention, the annual energy consumption of China's bitcoin blockchain is expected to reach a peak of TWH in , generating This scale exceeds the total annual greenhouse gas emissions of the Czech Republic and Qatar. In the stage of high-quality development, under the background of striving to achieve the goal of carbon peak in and carbon neutralization in , the "mining" industry of virtual currency has no room for survival and development.
Regulating the "mining" activities of virtual currency is of great significance to promote the optimization of industrial structure, promote energy conservation and emission reduction, and achieve the goal of carbon peak and carbon neutralization on schedule Reporter: what is the practical significance of China's increasing the regulation of "mining" activities of virtual currency and the continuous upgrading of supervision?
What does it mean that "mining" is officially included in the eliminated industry? Deng Jianpeng: from the perspective of promoting the optimization of China's industrial structure, promoting energy conservation and emission reduction, and achieving the goal of carbon peak and carbon neutralization as scheduled, it is of great practical significance to strengthen the regulation of the "mining" activity of virtual currency.
The notice requires multi department linkage and full chain governance, which helps to promote the rectification work in an all-round way. Of course, this rectification is not to deny the blockchain technology related to virtual currency. The notice specifically stipulates that it is necessary to distinguish between "mining" and blockchain, big data, cloud computing and other industries.
It can be predicted that the implementation of the notice will help encourage capital to better serve the real economy, prevent more private capital and even listed companies from following the trend of "mining", and prevent the further expansion of financial risks caused by personal "speculation".
The "mining" activity of virtual currency has been officially included in the eliminated industries, which means that China will further strictly implement energy conservation and emission reduction policies and reduce carbon emissions.
On the one hand, it is beneficial to reduce speculation, on the other hand, it is also beneficial to reduce the risk of "cutting leeks" by investors without financial risk-taking ability, so as to maintain financial market and social stability.
Guo Yungao: virtual currency "mining" is officially listed as an eliminated industry, which will release a large number of power resources occupied by ineffective and harmful production capacity, enable efficient and beneficial production capacity to obtain relatively sufficient power guarantee, help reduce the degree of power shortage, narrow the scope of power restriction, and effectively reduce greenhouse gas emissions caused by ineffective energy demand.
It is also conducive to promoting the development of new industries such as energy storage, supporting the construction of new power systems, serving the large-scale grid connection of renewable energy power generation such as wind power and optoelectronics, and realizing the large-scale substitution of low-carbon renewable energy for fossil energy.
It is of great significance to promote the optimization of China's industrial structure, promote energy conservation and emission reduction, and achieve the goals of carbon peak and carbon neutralization on schedule.
Clarify the "clarity" and "turbidity" in the field of blockchain, strengthen the guidance and standardization of blockchain technology, and actively promote the integrated development of blockchain and economy and society Reporter: what problems should we pay attention to in rectifying the chaos between virtual currency "mining" and virtual currency transactions?
What is the focus of work? Deng Jianpeng: I think there are two key points at present. One is to check the use of resources or other convenient conditions by state-owned units to directly or indirectly participate in "mining"; Second, virtual currency has become a payment tool for some money laundering and illegal economic activities. We should severely crack down on illegal and criminal acts such as money laundering, terrorist financing and fund-raising fraud through virtual currency transactions.
The long-term mechanism to regulate the chaos of virtual currency transactions should be the key consideration direction of policy-making in the future. There are two issues worthy of attention: first, clarify the "clarity" and "turbidity" in the blockchain field.
Edit:Luo yu Responsible editor:Wang xiao jing Source:Website of the State Commission for Discipline Inspection of the CPC Central Committee Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. Recommended Reading Change it.
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Bitcoin Mining’s Days Are Numbered in One China Province
The highest economic planning agency under the State Council of China has added crypto mining back to the list of industries it aims to eliminate. The move comes almost two years after the agency quietly scrapped a plan to get rid of mining. Just two weeks ago, Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
Mining rig maker Canaan argues against wholesale crackdown on bitcoin mining in China
Customers can choose from a wide range of cryptocurrency equipment, ranging from SHA miners, Ethash miners, Kadena miners, Equihash miners and much more. A successful cryptocurrency related business has to be fast, smart and efficient, and EVO Miners is very well aware of that. Waiting for weeks or even months for the equipment to be shipped like in the old days becomes just a bad memory when buying from EVO Miners, as they will ship customer's order within 48 hours of receiving it. Whether you're a blockchain enthusiast, looking to start mining cryptocurrency as a hobby or you have your own farm, looking to expand, EVO Miners is definitely one of the companies you should get in touch with. Larger orders get discounted whether you're a new or a returning customer. Cryptocurrency mining still manages to capture the imagination of users, more than a decade after Bitcoin mining became a truly global phenomenon. Yet, both the current and prospective miners face changing fortunes related to price fluctuations of the mining equipment and the cryptocurrencies they dig for. Luckily, the businesses such as EVO Miners have taken the stage with an aim to help the crypto enthusiasts and investors find the shortcut to hitting a genuine gold vein whenever they decide to invest in cryptocurrencies.
Pardon Our Interruption
The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment. The list includes more than other industrial activities. The catalogue was issued in , pointing out the activities and industries which are allowed to grow in the country or those that ought to be restricted or banned outright. Reuters reported that the draft list has been open for public perusal since April 8, , although the NDRC has not yet set a date for the elimination of cryptomining activities from the state.
BEST Bitcoin Mining Software App: Free Crypto Miner (Feb 2022)
The crusade against crypto mining in China isn't over, and although it's no longer a crime to set up mining operations in the country, stealing energy to power mining computers is still, needless to say, punishable by law -- which is the same for any other country. In the Kaiping District of Tangshan city, close to 7, crypto mining machines and 52 high-powered transformers were confiscated by Chinese authorities. The investigation that started in April had the Tangshan police, State Electric Power Department and other authorities scour 70, households, 1, communities, 3, merchants, courtyards, mines, factories, and villages for questionable electricity use, according to a report by news outlet CCTV. And as it takes excessive amounts of electricity to sustain a crypto mining business, authorities tracked those that far surpass the average family consumption. Those specialized computers were operating on a hour basis, eating up electricity at a rate of 40 times higher than the standard household, and again, what's worse is those miners are getting that power supply for free via stealing from the village.
It’s time for a FTC Blockchain Working Group
The heater he was using? Two bitcoin mining machines and two Ethereum mining machines. Fakhoury, 38, is part of a contingent of people who say mining bitcoins at home can be profitable and provide them free heat. Like gold, the quantity of bitcoins is finite. Out of a planned supply cap of 21 million bitcoins,
The environmental cost of cryptocurrency mines
Actual results will vary. Skip to content Accessibility help. Gaming Phone. Snapdragon Insiders.
The chip shortage is pitting bitcoin miners against gamers
RELATED VIDEO: Inside Iceland's Massive Bitcoin MineAs the crypto market is booming, the value of mining equipment is increased and it can give users an extra margin on profit. Web mining is the easy entry into cryptocurrencies. With one button your can start mining bitcoins! Easy bitcoin address setup. Until now risking your money to buy bitcoin or understanding complex technology to mine bitcoin were the only solutions to get free bitcoins.
Twenty-two people have been arrested in Jiangsu province for stealing electricity to mine Bitcoin. Zhenjiang city police investigated for nearly two months, and uncovered that a syndicate had rented nine factories with computer mining equipment and reportedly stole around RMB20 million in power over the course of their digital mining operation. For cryptocurrency miners, electricity is essential to their operation. Between the computing power and the cooling system needed to keep the machines from overheating, the utility bill tends to be astronomically high, which is why some miners revert to stealing power from other places. Bitcoin and cryptocurrencies as a whole have endured a rocky relationship with the Central Government since rising in popularity in the PRC around A year and eight months later, Beijing ordered all Chinese mainland-based cryptocurrency exchanges to shut down, effectively cracking down on the cryptocurrency movement in China. Bitcoin Cryptocurrency Jiangsu Mining.
According to BTC. According to feedback from miners in Kazakhstan, the nationwide network has been restored since January 11, and as of midday on January 12 the network was all clear and mining was basically back to normal. In December, according to Haikou Daily, Hainan's Development and Reform Commission issued a notice deciding to classify virtual currency "mining" activities as an industry to be phased out, with a differential electricity tariff increase of 0. The Central Commission for Discipline Inspection and State Supervision website: virtual currency "mining" consumes a lot of energy and emits a lot of carbon, and its blind and disorderly development runs counter to the goal of carbon neutrality and high-quality development.
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