2013-11-21

Chengdu Bitcoin Miner Uses 60 Machines To Mine 55 BTC In One Day; Price Drop Blamed On Chinese Miners Cashing In

July 2009 on the excavation bitcoin Long Yu Jiang, is China's first batch of bitcoin miner. Long Jiang Yu told reporters yesterday that he owns 60 mining machines hosted on a machine room, daily electricity consumption reaches 9,000 yuan, output is quite alarming, according to a recent market, dug a month for a good bit of money can several million yuan. Long Jiang Yu told reporters about bitcoin the various players in this circle, opened a bitcoin mystery.
9,000 yuan in a day is about $1,500 dollars. More on this miner:
Long Yu Jiang told reporters that he owns 60 mining machines, with a total computing power of 300TH / S, all these years the average daily volume of 69.2175 mining bitcoin, the present day can be dug 55 bitcoins, by price 4358 yuan calculations, one day he could income 239,000. However, investment is also very large. He revealed that these mining machine 24 hours a day, consumption reached 9,000 yuan, a Taiwan 620GH / S computing capacity mining machine, you need to install the 43 yuan a dedicated mining chip 384, the optical chip will cost more than 16,000 , and these saturated mining machine work, chip attrition rate is quite large.
He's literally burning through the CPUs and needs to frequently replace chip sets. Full Google translation below. Link to original: 成都玩家挖比特币:一天挖出55枚 价值24万元 Here's another video from the link as well.
In this video she talks about Bitcoin being a "gift from heaven" instead of like normal currency, and if Bitcoin becomes an international currency, the U.S. dollar will have to go off and cry somewhere. The anchor goes on to discuss the assassination site, bitcoin ATMs, and Bitcoin's 5 risks.

Google translated article follows:

Bitcoin spike continues. In the 18th, after soaring 74 percent yesterday appeared bitcoin market crash, from a high of 19 May 5888 yuan to 4358 yuan straight drop, a drop of up to 25.9%. Has 60 "mining machine" Long Yu Jiang Chengdu senior players told reporters yesterday's slump is due to early accumulation of a large number of bitcoin mining corporations to take advantage of high shipping caused. Bitcoin madness continues staged. Yesterday, the Chengdu collar Zhang Taobao shopping, find a host of things like computers, offer 580,000 yuan, while the edge in the ring she had just bought a set of 70 square meters of houses, there is $ 600,000.

Zhang see is a bitcoin mining machine. WCC reporter yesterday found the Taobao seller, his other identity is Sichuan Airlines CEO Phil Long Yu Jiang, who passed the Tianfu Software Park "in 2012 the first project will be assessed entrepreneurial field", mainly engaged in the business of virtual simulation flight .

July 2009 on the excavation bitcoin Long Yu Jiang, is China's first batch of bitcoin miner. Long Jiang Yu told reporters yesterday that he owns 60 mining machines hosted on a machine room, the light one day consumption reached 9,000 yuan, output is quite alarming, according to a recent market, dug a month for a good bit of money can several million yuan. Long Jiang Yu told reporters about bitcoin the various players in this circle, opened a bitcoin mystery.

Glossary

Bitcoin was born in 2008, is an open-source P2P software produced by the virtual currency. Based on a set of password encoding, through a complex algorithm to generate, anyone can download and run the Bitcoin client and involved in the manufacture bitcoins, the use of electronic signatures way to achieve circulation. Its main features include: decentralized, global circulation, have exclusive ownership.

Bitcoin total only 21 million. Bitcoin exist in the digital space, hidden in a specific algorithm, the need to invest a lot of manpower and resources to dig, which is called Bitcoin "mining." The mining machine is the most basic unit of computing power MB, computing speed 1MH / s, meaning that operations per second 1 megahertz. 1T = 1024G, 1G = 1024M.

Pellets sell bitcoins high yesterday plunged into two

"Yesterday (the 19th) is 24,50,100 bits credits to selling, these two days will certainly be lost." Long Yu Jiang Carter, China's largest trading platform BTCChina bitcoin trading price on average from the 19th a high of 5,888 yuan, a straight line yesterday afternoon fell to 4,358 yuan, or up to 25.9%.

"A lot of 7000 + buy, a place with blood ah", "tragic loss, heart can not stand," "too easy to be manipulated, and the rich playing the" ...... Yesterday a bitcoin players QQ group where one screams .

"Now the global average of 160 per hour mining bitcoin." According to Long Yu Jiang Jieshao, total 21 million bitcoins, as has been dug up 11960000. Early accumulation of a large number of bitcoin mining group, taking advantage of the stock market these days crazy shipments, down is inevitable.

Chengdu has 60 players on sale mining machine mining machine

Long Yu Jiang told reporters that he owns 60 mining machines, with a total computing power of 300TH / S, all these years the average daily volume of 69.2175 mining bitcoin, the present day can be dug 55 bitcoins, by price 4358 yuan calculations, one day he could income 239,000.

However, investment is also very large. He revealed that these mining machine 24 hours a day, consumption reached 9,000 yuan, a Taiwan 620GH / S computing capacity mining machine, you need to install the 43 yuan a dedicated mining chip 384, the optical chip will cost more than 16,000 , and these saturated mining machine work, chip attrition rate is quite large.

More serious situation is more and more difficult to dig bitcoin. Long Yu Jiang predicted that three years after only a day bitcoin mining 25, 30 years after the day to dig one's pretty good.

"Mining there three or four years of the stock market right now so I dug side, while selling the mining machine." Long Yu Jiang told reporters that his first foreign sale of the mining machine yesterday, 580,000 that Taiwan is the most high-end computing power 2TH / S, "orders within two weeks after delivery, one month can be dug 50 bitcoins, a few months will be able to return this." He revealed that there are many people asked about the situation, mainly because some traditional industries investors, smelling opportunity, also wanted to come into the act.

Secret Chinese bitcoin "four kings"

From Long Yu estuary, the reporter learned that China has four major Bitcoin top players, than a mystery.

"The first name is Li laugh, China bitcoin richest holdings worth 600 million yuan," he told reporters, Li Xiao is a former New Oriental teachers, mainly R & D investment and organization "mining machine", once used as mining too much power is off.

According to reports, this year in May, Lee Siu in Shenzhen, Guangzhou, Shanghai and other places roadshow, raising China's first bitcoin funds. The fund-raising plan shows a total fund of 20 million yuan, the use of proceeds in the form of a limited partnership. Individual investors a minimum investment of $ 100,000.

The second is the co-founder Yang Yao Renren Core, which formed a ASICME team, focused mining machine sales, according to ASICME team announced mining machine parameters, a price of 3,000 yuan minimum configuration mining machine, according to the current bitcoin mining rate, more than 30 days will be able to recover. From June 2, 2013 on the line to the end of June, its sales reached out to the mining machine total several million dollars.

The third is very mysterious, so far no one knows his real name, only knew the nickname "Pumpkin Zhang", but its work in China bitcoin industry chain is crucial because he provided the mining machine dedicated chip, "Avalon," Yang Yao Rui mine machine equipped with a chip is the "Avalon."

Long Yu Jiang told reporters that at present there are four major global mining machine chip manufacturers, three are in a foreign country, without foreign sales, only to provide their own equipment, pellets, so "pumpkin Zhang" in China's position is unique.


The fourth top players called "roast cat", this is not a person's nickname, but a mining group name, it is the world's largest mining group, excavation rate was close to 30% of the world. Today, the "roast cat" is a joint-stock company, the largest shareholder and founding team called "SSE bit Springs company." The company is also very mysterious, reporters are finding online four related presentations.

It is understood that "roast cat" in August 2012 in Bitcoin Forum (bitcoin official forum) on the IPO, founded ASICMINER, issued a total of 40 million shares, of which 163,962 shares held by the public, Shenzhen Fountain Corporation holds 236,038 shares bits, 0.01BTC an IPO, and now has more than one hundred million U.S. dollars market value.

However, in conversation, Long Yu Jiang, some of the above four people disagree, he claimed that he mainly active in the foreign arena bitcoin, people called him "Mr · Long".

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