Why do Chinese people love mining Bitcoin (Why can Bitcoin be mined)?
Why do Chinese people love mining Bitcoin? China has several characteristics: 1.
Why do Chinese people love mining Bitcoin? China has several characteristics: 1. The largest number of domestic mining machine manufacturers, which are mostly produced abroad. 2. The majority of mining machine devices in China are mainly distributed in provinces such as Sichuan, Guizhou, and Xinjiang. 3. There are many people mining Bitcoin, generally foreigners, and some have already bought mining farms to mine coins, but they have not been sold out yet. 4. Most mining companies are still based overseas (such as Bitmain), as these miners come from countries/regions other than China. (I am author Huang Xuejiao, for blockchain project reporting/exchanges, you can add my WeChat hxjiapg and please specify your position and purpose)
Why can Bitcoin be mined
Editor’s Note: This article is from Orange Book (ID: chengpishu), author: Tony Sheng, translation & proofreading: Min Min & Ajian; authorized reprint from Odaily Star Daily.
We are currently in the third era of Bitcoin mining – because more and more people have started mining Bitcoin, the process of mining Bitcoin has become more complicated and difficult for them. But why mine Bitcoin? To make it easier for everyone to understand, let us now explore some basic principles behind mining Bitcoin!
1. Conduct transactions through computers. This is the world’s first currency transfer process to be automatically completed by computers, allowing everyone to obtain a digital form of value, resulting in something very significant and immutable. This process is called “smart contracts” and it can execute any type of operation in a fixed manner and create a new blockchain to manage the assets on its network. 2. From another perspective, you can gain ownership from a node, and you can also choose your own wallet address. 3. Store your private key on a server, and then you can use these funds to purchase some software. 4. Decentralized exchanges, like DEX and other decentralized exchanges. 5. Decentralized exchanges are completely transparent and fair markets that allow people to freely buy and sell cryptocurrencies and various derivatives. If someone is willing to do this, they can earn a lot of profits. 6. Accessible without the need for intermediaries or bank accounts. 7. Trustless wallets are one of the only secure and irreversible choices. 8. After removing intermediaries, you can directly log in with your mobile phone or computer, but you cannot withdraw cash and other tokens. 9. Do not randomly trust any third party, just like there are no company employees. 10. Developers only need to download the code once and start running it through machine learning algorithms. 11. Do not worry about hardware problems, such as CPU problems. 12. Do not ignore products and services that may prevent you from entering the financial system. 13. Do not easily believe in information told by others. 14. Do not discuss your identity with anyone. 15. Do not carry your bank card. 16. Do not store your card. 17. Stop sending credit card information to others. 18. Keep control of your financial records and receipts to avoid unexpected situations. 19. Do not attempt to manipulate market decisions.
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