Why is IPFS Mining called a money burning process (How much is the daily income of IPFS mining)?

According to IPFS100.com, there has been a lot of discussion about Filecoin in the past month. Some people say it’s a scam, while others claim that “mining can make money”. Technically speaking, we can consider this blockchain as a peer-to-peer network system where you can store your data by using whatever you want. However, in practical applications, people find it very complex, energy-consuming, and expensive. Additionally, due to illegal and fraudulent activities, many users are unable to transact and validate. This is why many people think it is a scam.

So, why do developers who have used this technology encounter such a situation? It’s because they know that these applications may consume a significant amount of electricity to operate. Therefore, if they can find the most appropriate methods or solutions, they should be able to achieve higher returns than before. With the development of the internet, more and more developers are starting to focus on this industry in order to reach a wider user base.

How much is the daily income of IPFS mining?

According to official information, what is the daily income of IPFS mining? It will be released at precisely 3:00 pm today.

According to the official introduction, IPFS mining equipment adopts ASIC specialized chip design using Samsung technology. Its main functions include storage, data transmission, transaction sending, and decryption algorithms. Currently, there are already many models and designs of products being developed in the market. If you buy a certain amount of computing power according to the market price, you can mine the corresponding amount of digital currency, which is a good thing for an ordinary investor. However, due to the recent market decline, some people have sold off their bitcoins, so they have a more conservative attitude towards this investment.

Furthermore, we can see that the operation mechanism of IPFS mining is very simple. You can obtain certain rewards through simple configurations. For example, if you have 100 Bitcoin Cash in your wallet, you can get around 5 RMB worth of Bitcoin every day. However, you need to deposit 1 Bitcoin Cash first in order to receive 1000 CNY, which is equivalent to 2 BTC. Of course, you can also directly exchange these bitcoins into smart contracts.