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Bitcoin mining for ten years: things are human beings, ideals are still in place (the road to mining industrialization)

2019-09-03 18:03

Bitcoin mining for ten years: things are human beings, ideals are still in place (the road to mining industrialization)


Since the first block was dug up by Nakamoto, the bitcoin mining has come out. From 2009 to 2019, it has been a full decade of full-scale bitcoin mining development. Bitcoin mining has grown from scratch in the past decade, witnessing the blockchain industry from humble to brilliant. Between the ups and downs, bitcoin mining has also experienced from the "geek" to the "CX" in the public's impression, and then the "upstart" may become "slower and sooner". The myth of wealth in Bitcoin mining for ten years does not essentially change the perception of ordinary people. The reason may be that the blockchain is still some distance away from life.


The Internet has also created a global bubble at the beginning, but this does not prevent the Internet from changing our lives. The reality is that regardless of the public attitude, the existence of bitcoin mining is justified. If this "existence" also shows vigorous vitality, then we have reason to believe that it may be a trend.


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Mining industry road


Today's mining industry seems to be gaining momentum. In fact, from January 3, 2009, Satoshi Nakamoto dug out the first “creation block” and in the next one or two years, mining work It has been solely undertaken by Nakamoto’s personal computer. No one can think of it. In the future, the mining industry with tens of billions of output value per year will be so "casual".


1) Specialization of mining machines


Mining is essentially a process of relying on computer chips to make hash collisions. At first, a PC could be a mining node, and it was later found that the GPU mining with a computer was more efficient. This stage is called the pan-miner stage. The carrier of mining is a computer, and anyone can become a miner.


In the strict sense, the first type of mass-produced machine for mining was born in Shenzhen in 2013. The model is “Baked Cat 12.8G”, and the first model of the mining machine was launched. In September 2013, the world's first ASIC Avalon 1 was delivered, using 110nm process chips. At the end of the same year, Bit Continental's first ASIC mining machine ant S1 was mass-produced.


The mining machine embarked on a truly specialized road, and the large pattern of the mining industry was basically determined during the year. Then, under the influence of Moore's Law, the professional mining machine continued to iterate, and today it is already the world of 7nm process mining machine.


2) The first batch of professional miners debut


Also in 2013, in the city of Gongming Street in Shenzhen, the world's first mine was born. Wang Song used the roasting cat mining machine to realize the batch mining operation. The name was “roasted cat” mine. In the case of only half of the room, the machine accounted for 42% of the total network.


The completion of the roast cat mine means that the first generation of miners who depended on the income of the mining machine was born. Of course, the miners of the first generation were also the developers of the mining machine. There is also a group of investors behind the roast cat mine. They rely on the mine's income dividend to get a good return on investment. It can be said that the first batch of mining investors have already existed at this time.


The formation of professional miners has to be traced back. Between 14 and 15 years, miners began to discover the cost of electricity is the key to determining the success or failure of the mining industry. Miners began to look for cheap energy around the world. After comparison, Sichuan Electric Energy's price and volume are optimal. The miners began to embark on the path of migration, which is the origin of the water and electricity that we talked about today.


The discovery of Fengshui Electric has caused the profits of mining to soar, and the ability of miners to withstand risks is unprecedentedly strong. Whether or not you can master high-quality power resources has become the threshold of miners, and miners have become a profession in the true sense.


3) The emergence of the surrounding service industry


To judge whether an industry is formed, the most intuitive is to observe whether the service industry parasitized on it is sound. The surrounding service industry of the mining industry has two major parts. One is the channel for serving the distribution of goods by mining machinery manufacturers and the mining pool serving small and medium-sized miners.


According to reports, the earliest mine pool appeared in Prague, Czech Republic, in 2010. Given that Chinese miners account for more than 70% of the total network computing power, the mining pool serving mainland miners seems to be more representative. Established in April 2013, Yuchi F2POOL is the earliest mining pool in China and once had the largest computing power in the world.


The appearance time of the mining machine dealers seems a bit untestable. Shenzhen Huaqiang North SEG Plaza is the world's largest distribution center for mining machines. At the latest, by 2015, there will be a special mining machine sales store in SEG Plaza. The peak period of the mining machine dealers is from the end of 2017 to the beginning of 2018. At the peak period, the entire fourth floor of the SEG Plaza is a store that distributes various types of mining machines.


Mining industrialization relies on the advent of professional mining machines, formed in the emergence of professional miners, developed in the process of mine migration, and finally solidified in the growth of the surrounding service industry.


In terms of time, 2009 is the first year of mining, and 2013 is the beginning of mining industrialization. Many people who are important in the industry today opened their own mining road in 2013.


Pumpkin Zhang (founder of Jia Nan Zhi Zhi), Wu Ji Han (founder of Bitland), Mao Shixing (founder of Yuchi), Zhuang Zhong (head of btc.com), etc. all appeared in the beginning of 2013, and between these groups Each other can be connected in tandem by some people or things.


From the time of 2009 to 13 years, bitcoin mining took the first step. In the next six years, Bitcoin mining has expanded at a rate that no one can think of. Today Bitcoin mining is a mature industry that feeds 100,000 people in a billion-dollar production value.


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