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1. Mining is the cheapest way to get Bitcoin
2. Participation can be through hosting or self-mining. The hosting is in a third-party place, and self-mining is very intuitive
3. If it is for hobbies or personal investment, that is to say, optimistic about the future of Bitcoin, and is not very sensitive to electricity expenses, then we recommend using the on-site home kit for mining
4. If it is for business or institutional investment, then under the premise of optimistic about the future of Bitcoin, we must consider the scale, the huge amount of electricity, the return of the project, etc., then we recommend our modular commercial kit for mining.
Bitcoin mining refers to competing for the right to bookkeeping, and then earning Bitcoin rewards.
Bitcoins are limited, and the system will keep accounts every 10 minutes or so. Users need to use their own mining machines to compete for the right to keep accounts.
A mining machine refers to a computer specially used to mine Bitcoin. This type of computer has a professional mining chip and runs a specific algorithm for calculation, which consumes a lot of power.
Bitcoin mining refers to the process of consuming computing resources to process transactions.
Bitcoin is essentially an open bookkeeping system, and mining is to obtain the power of bookkeeping. Whoever completes the bookkeeping first will be rewarded with Bitcoin.
In the Bitcoin world, a data block is generally released in about 10 minutes, which contains the transactions within the 10 minutes, and the miners are competing for the power of bookkeeping.
A bitcoin mining rig is a computer used to earn bitcoins.
This type of computer generally has a professional mining chip, and usually works by installing a large number of graphics cards, which consumes a lot of power.
The computer downloads the mining software and then runs a specific algorithm. After communicating with the remote server, the corresponding bitcoins can be obtained. This is one of the ways to obtain bitcoins.
The decentralized mining system designed by Gonbox makes home mining, commercial mining, and industrial mining all become distributed nodes.Realize easy mining of Bitcoin.
If you want to mine Bitcoin, you can choose to buy a mining machine on GONBOX, The price of Antminer S19PRO 110T is very chea.
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Overclocking is to increase the working frequency of the mining chip to obtain higher hashrate.
The resulting more heat cannot be handled by the air cooling mode, so we use liquid immersion cooling to solve the problem. That is to put the mining machine completely immersed into liquid coolant to take away all the heat.
You can use the USB water pump to pump out the oil. Please click the link to view the specific operation steps:https://www.gonbox.com/instructions-for-use-of-oil-well-pump/
Please click to view:https://www.gonbox.com/water-cooled-s19-modification-tutorial/
If you’re struggling with home heating and interested in cryptocurrency mining, take a look at GONBOX liquid-cooled mining tanks, which can be bitcoin for everyone while saving energy：https://www.gonbox.com/looking-at-heating-mining-from-the-perspective-of-technological-development/
Watch the full video here:https://www.gonbox.com/air-cooling-fan-installation-video/
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1. Select the product you want to buy, and then select the coupon deduction, as shown in the figure below:
2. Please select the coupon amount to be deducted, as shown in the figure below:
3. Payment to complete the order.
Welcome to click on the link to view:https://www.gonbox.com/oil-cooled-overclocking-mining-and-heat-recovery-scheme-data-calculation/
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Hash Algorithm : Bitcoin uses a military-grade encryption algorithm known as Secure Hash Algorithm 2 (SHA2). Bitcoin miners are rewarded with Bitcoin when they find a random number that can only be generated by running a hash algorithm. This process is essentially a computational lottery that consumes a lot of computing power.
Difficulty Adjustment:: Proof-of-work difficulty levels are automatically adjusted every 2,016 blocks mined, roughly every 2 weeks. The purpose of the adjustment is to keep the mining time of new blocks at 10 minutes per block.
An adjustment factor to the amount of computing power (or computing power) applied to the hashing algorithm. As computing power increases, so does the computational difficulty, making mining more difficult. If the computing power decreases, the difficulty of calculation will decrease, making mining easier.
The income of Bitcoin is obtained through mining and investment. The following is the calculation method of the income of these two methods:
1.Calculation of Bitcoin mining income: If you choose to obtain Bitcoin through mining, you need to consider factors such as the cost and efficiency of mining equipment, electricity costs, and mining difficulty.
(1) You can use the online bitcoin mining revenue calculator to estimate your mining revenue. These calculators usually require you to enter the model of your mining equipment, computing power, electricity costs and other parameters, and then calculate your daily, weekly, monthly and annual earnings.
(2) Calculation formula for bitcoin mining income:
Total income = Estimated utput per day * (1-Mining pool service fee) * Mining days
Market value = Total revenue * Currency price
Total electricity fee = Machine power consumption * Electricity price quantity * 24-Hour mining days
Total cost = Total electricity fee + Mining price
Profit = Market value - Total cost
Among them, the mining income refers to the number of mined bitcoins multiplied by the current bitcoin price; the electricity fee refers to the electricity consumed by the mining equipment during the mining process; the number of mining days refers to the total time of mining.
2.Calculation of investment income: If you choose to obtain income by investing in Bitcoin, you need to consider Bitcoin price fluctuations, transaction fees and other factors. You can use the online bitcoin return on investment calculator to estimate your return on investment. These calculators usually ask you to enter your investment amount, bitcoin price at the time of purchase, bitcoin price at the time of sale, and other parameters, and then calculate your investment yield, profit, and loss.
Please note that the above calculation results are for reference only, and the actual return will be affected by various factors. Therefore, please be sure to conduct sufficient research and risk assessment before investing.
Whether home mining is worthwhile depends on a variety of factors, including electricity prices, the cost and efficiency of mining equipment, mining difficulty, cryptocurrency prices, and more. Generally speaking, however, home mining may only become economical when electricity prices are low and mining equipment costs are low.
Generally speaking, for most countries and regions, if the electricity cost is less than $0.1 per kWh, home mining may be more cost-effective. However, it also depends on the power consumption and efficiency of the mining rig you use.Before considering home mining, it is recommended that you learn about the core advantages of our GONBOX-F2 PLUS products: mining machine overclocking to mine Bitcoin + heating + warm water + heat storage. Well worth the investment!
Digital currency, also known as cryptocurrency or virtual currency, refers to currency that is managed and encrypted using digital technology.
What is BTC?
Bitcoin is a decentralized digital currency controlled by a set of encryption algorithms, without the support of a central issuing institution or government. Bitcoin uses peer-to-peer technology to facilitate transactions and manage the currency, with all transactions recorded on a public blockchain.
1.What are the characteristics of Bitcoin?
The characteristics of Bitcoin include:
Decentralization: Bitcoin is not controlled by a central issuing institution or government, with all transactions managed and verified by users themselves.
Anonymity: Bitcoin transactions can be conducted anonymously, although all transactions are recorded on the blockchain and publicly available.
Security: Bitcoin uses advanced encryption technology to ensure transaction security and prevent tampering.
Limited issuance: The total supply of Bitcoin is limited to 21 million, with approximately 18 million currently in circulation.
Protection against inflation: Bitcoin's issuance quantity is fixed and not influenced by government monetary policy or inflation.
2.What is the BTC white paper?
The BTC white paper is a technical document released by Bitcoin's creator, Satoshi Nakamoto, in 2008. It details the design principles, encryption algorithms, and transaction processes of Bitcoin. The white paper is considered the technical specification and design blueprint for Bitcoin, and has had a profound impact on the development of digital currencies.
What is LTC?
LTC stands for Litecoin, which is a digital currency based on decentralized technology designed to provide faster transaction speed and lower transaction fees. LTC is similar to Bitcoin but has some differences such as faster transaction processing time, shorter confirmation time, and a higher block size limit.
Some of the features of Litecoin include:
1.Fast transaction speed: Litecoin uses a faster transaction processing time and shorter confirmation time, making it faster than Bitcoin.
2.Low transaction fees: LTC transaction fees are lower than Bitcoin, making it a good choice for small transactions and everyday shopping.
3.Decentralized: Litecoin is a decentralized digital currency with no central controlling authority or government issuance. All transactions are verified and recorded by nodes on the network together.
4.Security: Litecoin uses the same encryption technology as Bitcoin to ensure transaction security and prevent tampering.
5.Scarcity: The total supply of Litecoin is limited to 84 million coins.
The LTC white paper is a technical document detailing the technology principles, encryption algorithms, and transaction mechanisms of Litecoin. It was released by Litecoin's founder Charlie Lee in 2011 and served as a technical specification and blueprint for Litecoin's design. Similar to the Bitcoin white paper, the LTC white paper has become the basis and standard for Litecoin development.
What is ETC?
ETC stands for Ethereum Classic, which is a decentralized, open-source blockchain platform that supports smart contracts and decentralized applications (DApps). It is a continuation of the original Ethereum blockchain that was split into two after the DAO hack in 2016. The split resulted in the creation of two separate cryptocurrencies: Ethereum (ETH) and Ethereum Classic (ETC).
Some of the key features of Ethereum Classic include:
1.Smart contracts: ETC allows developers to build and deploy smart contracts on its blockchain, which can execute automatically without the need for intermediaries.
2.Decentralized applications: ETC supports the development of decentralized applications (DApps) that can run on its blockchain, allowing for the creation of a wide range of innovative applications.
3.Immutable blockchain: ETC's blockchain is immutable, meaning that once a transaction is recorded on the blockchain, it cannot be altered or deleted.
4.Proof of Work (PoW) consensus mechanism: ETC uses a PoW consensus mechanism, which requires miners to solve complex mathematical problems to validate transactions and add them to the blockchain.
5.Limited supply: ETC has a maximum supply of 210 million coins, which ensures that it is a scarce and valuable asset.
The ETC white paper was not released in the same way as the Bitcoin or Litecoin white papers. However, there are several technical documents and resources available online that provide an in-depth introduction to the technology principles and design of ETC. These resources include the ETC website, the ETC GitHub repository, and various technical articles and papers written by the ETC development team and community.
What is DASH?
DASH, also known as Digital Cash, is a decentralized digital currency that was created to offer users a fast, secure, and private way to make transactions online. DASH is built on top of the Bitcoin protocol, but it has its own unique features and capabilities.
Some of the key features of DASH include:
1.InstantSend: DASH allows for near-instant transaction confirmation times through its InstantSend feature, which locks in a transaction and confirms it in just a few seconds.
2.PrivateSend: DASH offers enhanced privacy and anonymity features through its PrivateSend feature, which allows users to mix their transactions with those of other users to make them more difficult to trace.
3.Decentralized governance: DASH has a decentralized governance system that allows holders of the DASH cryptocurrency to vote on proposals for improving the network and allocating funds for development and marketing initiatives.
4.Masternodes: DASH uses a two-tier network of nodes, including regular nodes that validate transactions and masternodes that provide additional services such as InstantSend and PrivateSend.
5.Low transaction fees: DASH has some of the lowest transaction fees of any major cryptocurrency, making it an attractive option for users looking to make small transactions.
The DASH white paper was not released in the same way as the Bitcoin or Litecoin white papers. However, there are several technical documents and resources available online that provide an in-depth introduction to the technology principles and design of DASH. These resources include the DASH website, the DASH GitHub repository, and various technical articles and papers written by the DASH development team and community.
What is ZEC?
ZEC, or Zcash, is a decentralized, open-source cryptocurrency that was launched in 2016. It was designed to offer users enhanced privacy and anonymity features when making transactions online.
Some of the key features of ZEC include:
1.Enhanced privacy: ZEC uses a special type of zero-knowledge proof called zk-SNARKs to encrypt transaction information and provide enhanced privacy and anonymity for users.
2.Decentralized governance: ZEC has a decentralized governance system that allows holders of the ZEC cryptocurrency to vote on proposals for improving the network and allocating funds for development and marketing initiatives.
3.Low transaction fees: ZEC has some of the lowest transaction fees of any major cryptocurrency, making it an attractive option for users looking to make small transactions.
4.Fixed total supply: ZEC has a fixed total supply of 21 million coins, which ensures that it is a scarce and valuable asset.
5.Compatible with Bitcoin: ZEC is built on the same codebase as Bitcoin, which makes it compatible with Bitcoin wallets and other Bitcoin-related services.
The ZEC white paper, titled "Zerocash: Decentralized Anonymous Payments from Bitcoin", was released in 2014 by a team of researchers from Johns Hopkins University, MIT, and Tel Aviv University. The white paper introduced the technology principles and design of ZEC, including the use of zk-SNARKs for enhanced privacy and anonymity. Since then, the ZEC development team and community have continued to build and improve upon the technology, with various technical articles and papers available online for further information.
What is KDA?
KDA, or Kadena, is a public blockchain platform designed for scalability, security, and ease of use. It was founded by a team of former JP Morgan blockchain developers in 2016 and launched its mainnet in 2020.
Some of the key features of KDA include:
1.High scalability: KDA uses a sharded architecture that allows it to handle high transaction volumes without compromising on performance or security.
2.Interoperability: KDA is designed to be interoperable with other blockchain platforms and can be used to transfer assets between different blockchains.
3.Proof of Work/Proof of Stake hybrid consensus: KDA uses a hybrid consensus mechanism that combines the security of Proof of Work (PoW) with the energy efficiency of Proof of Stake (PoS).
4.Smart contract capabilities: KDA supports smart contracts that can be written in the Pact programming language, which is designed to be safe and easy to use.
5.Private transactions: KDA supports private transactions that use zero-knowledge proofs to provide enhanced privacy and security.
The KDA white paper, titled "Chainweb: A Proof-of-Work Parallel-Chain Architecture for Massive Throughput", was released in 2018 and introduced the technology principles and design of KDA. The white paper focuses on the Chainweb architecture, which is designed to provide high scalability and interoperability, and explains how KDA uses a hybrid PoW/PoS consensus mechanism to ensure security and efficiency. Since then, the KDA development team and community have continued to build and improve upon the technology, with various technical articles and papers available online for further information.