What Does the Antminer Mine (What is the Antminer Used For)

What does the Antminer mine? Mining is a complex concept, but the Antminer has conducted in-depth research in the field of Bitcoin.

With the soaring prices of cryptocurrencies, more and more investors are paying attention to Bitcoin. From 2017 to 2019, the entire digital currency market has shown explosive development. Although Bitcoin has been around for some time, its market value has not reached the previous level of magnitude. Now, there are more phenomena: besides Bitcoin, the prices of all other investment products are rising; for example, at the beginning of this year, Bitmain launched a new mining pool called AntPool. Currently, there are still some small issues with this platform:

First, the mining cost is high (such as electricity and network fees), and the things mined are not easily snatched by others; second, the mined coins have limited liquidity, so if you want to use them, you need to constantly increase the purchase of new machines and old equipment; the third drawback is that many altcoin projects are emerging in the market, and this situation will continue; the fourth problem is that Bitcoin itself is not static, but is adjusted by algorithms to control its supply, so we recommend using ordinary computers or personal mobile phones for operations; the fifth drawback is that the mining process is complex, consumes a lot of energy, and is prone to overloading. This means that the coins mined do not have a high risk.

However, for many miners, mining is still a long-term thing. What to mine? Generally speaking, the main thing in mining is to choose mainstream hardware or second-hand goods, and then combine them to mine in order to save a lot of time and cost and increase the return on investment and reduce expenses. Another way is to directly package computing power into contracts, form a corresponding price stability range, and obtain higher returns, allowing more funds to participate.

What is the Antminer Used For

Editor’s note: This article is from the Caiyun Blockchain (ID: cybtc_com) and has been authorized for reprint by Odaily Planet Daily.

In the past few months, the Antminer has become a dominant industry, but what is it used for? We can see some concepts of mining:

1. Bitcoin and Litecoin are two currencies; 2. Ethereum is also a cryptocurrency; 3. “Monero” is a “big snack”.

These types of cryptocurrencies mainly serve two purposes: one is as a means of payment, and the other is to provide individuals with financial services and wealth storage functions.

Among them, the most famous are the two companies, Bitdeer and Bitmain, which have launched mining products-S19Pro (based on NEO technology), Shenma M30S+, and the new generation A10 series chips produced by Bitmain. According to a report released by the company, the price of “S9” is now about 38 yuan.

This price can be traced back to December 14, 2013. The market at that time seemed very crazy-when the bull market started in early 2016, Bitcoin reached more than 52,000 US dollars. However, in mid-April this year, with the continuous rise of Bitcoin, its price once fell to about 3,800 US dollars. Since then, Bitcoin has fallen all the way to 80-90 million US dollars. The term “S9” is widely regarded as a virtual currency: “If someone wants to buy an S17Pro or T18 series S15 miner someday, I estimate that they will definitely need to spend several million or even more money.” Therefore, the value of this computing power is not high, and due to its cost, many ordinary investors choose to invest in S8, S16s, and other older generation products. Of course, these machines also have their own characteristics. For example, small-scale mining equipment like Bitdeer is usually purchased by professionals, rather than operated personally, so there are almost no other sellable products in the market besides Bitcoin. The rise of ASIC miners has aroused interest in Bitcoin among many people, but the fact is that most people have not realized this. Two reasons: 1. Bitcoin prices fluctuate too much and cannot operate normally 2. The Bitcoin network can produce an average of one million BTCs per day (each block takes about 6 seconds to generate). In the bear market of 2018, the total number of Bitcoins reached more than 300 billion. Although the market size is so large, it is difficult to ensure transaction security. Due to the large amount of electricity required for maintenance by miners, the competition between mining pools has become increasingly fierce, so many users have joined the mining camp to find new sources of income and mine Bitcoin using Antminer. According to statistics, there were more than 1,000 mining machines put into production by the end of 2017. In addition, in November 2019, Ant Group released new versions of its three major products: “Antminer,” “Antmine,” and “Antpool,” which adopted the new Samsung Galaxy Z10 smartphone, the new flagship E7 series, and the new MicroBT high-performance machine, while also increasing CPU, GPU, and other performance optimization solutions.