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Why should mining be connected to the mining pool (mining has been unable to connect)

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Why should mining be connected to the mining pool (mining has been unable to connect)

Why mining should be connected to mining pools? Mining pools are a distributed, trusted digital currency and payment network managed by a team specifically developed for the Bitcoin ecosystem. It supports encrypted asset transactions by binding its own hardware wallet to the miner’s device. When users want to purchase mining machines and transfer them between mining pools, the mine will automatically choose their most suitable choice (i.e., machines using dedicated mining machines). This is unsafe for most people and may result in significant economic losses in some cases. Due to the adoption of this approach by many blockchain nodes, these solutions are well suited for small businesses. But some large companies have started to accept this technology and are trying to solve the problem. For example, MicroStrategy has also launched a new service called BTC.com. Now, over 1000 BTC mining pools have been integrated into this product, including Firecoin Mining Pool, Bitcoin. org, etc., and can provide more price data on Bitcoin and information on how to obtain better security. In addition, many projects, including BitMicro, Canaan Creative, and Ebon International, are planning to add more functions to attract more investors to participate in mining, and even listed companies that acquire computing power may join the project In order to improve efficiency and cost-effectiveness, miners need to pay high service fees to their clients. As more and more institutions enter the Bitcoin field, mining is rapidly developing into a new industry model, and miners are constantly seeking ways to increase their income sources and diversify themselves. Fundamentally, miners must be able to utilize the value of the services they provide. But at the same time, as a Bitcoin mining company, we have to face two challenges: first, the cost of rising Bitcoin prices; Secondly, if the supply and demand relationship of Bitcoin changes, then the demand for Bitcoin will decrease. Finally, the price of Bitcoin will also rise, resulting in a higher inflation rate

Mining has been unable to connect

Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com) and is authorized for reprinting by Daily Planet Hello everyone, I am Bao Er Ye. Today, can I talk about our mining experience? Firstly, the situation of coin mining in recent months: In February, many exchanges encountered a problem: why can’t they keep up with the price of Bitcoin? In fact, the root cause of this problem is still in the market situation before mid November last year; And there is another problem, because the first three trading pairs are all in Ethereum, which leads to the overall downward trend of the entire market. But if there is no other new capital, this situation will basically occur, that is to say, the market will be more intense. However, yesterday some veteran players also discovered that these tycoons have been playing various contract schemes, opening short positions, and other operations. They have directly pulled the currency to a very low level to take over Bitcoin:

Of course, some people also think this is a scam or black history. For some early investors, such cases are not uncommon. Since early May this year, due to the sharp decline in the market, many friends have been forced to shut down or have accidents, but have not been able to contact them. So many friends looked for an opportunity to let themselves re-enter the Cryptocurrency industry, but finally only those “really fragrant” people came in. Then just a few days ago, when someone suddenly asked him why he was doing this, he replied, “Do you think you should continue holding?” Then he said, “I don’t understand how many ETHs and BTCs you have bought.” At that time, everyone wanted to know who first launched the contract, and then went to another contract exchange. When he saw the prices of most mainstream currencies in the market falling all the way, he immediately said he wouldn’t buy them back In fact, in the past period of time, regardless of which mainstream currency, as long as Bitcoin rises, it will rise, just like the EOS of that year So around the 10th, with the market correction and the occurrence of Bitcoin halving, the price of Bitcoin once again exceeded $4000 per coin. Within more than ten days, the price of Bitcoin skyrocketed from $33000 to $48000 per coin. Subsequently, it began to decline, with a lowest point of $3200 per coin. The reason for the continuous decline in Bitcoin prices this time may be due to the increasingly expensive domestic electricity bills, which “make people unwilling to pay for electricity due to the high and cheap electricity costs. Therefore, in this situation, the price of Bitcoin has indeed increased, but in the current market environment, it is still unable to support the high level of a bull market, even worse than the current bear market. And this also indicates that the recent trend of Bitcoin is indeed quite unstable.

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