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      "author": "ipfs171",
      "permlink": "el-salvador-s-usd30-bitcoin-wool-was-targeted-by-hackers-and-a-large-number-of-residents-identities-were-stolen",
      "title": "El Salvador’s $30 bitcoin wool was targeted by hackers, and a large number of residents’ identities were stolen",
      "body": "Chivo Wallet is a national digital wallet issued by the government of El Salvador on September 7 to implement the Bitcoin Act. To this end, El Salvador promised that users of Chivo Wallet who download and authenticate will receive a $30 Bitcoin reward. This move allowed the official wallet of El Salvador to exceed 2 million users in one month.\n\nEl Salvador’s President Nayib Bukele said: “Compared with the nationalization and privatization of traditional banks in 40 years, we seem to be able to provide banking services to more people within a month.”\n\nWith the adoption of Bitcoin, Buckler put his country at the center of \"global discussions about the future of currencies.\" Article 7 of the Bitcoin Act stipulates that all merchants must accept Bitcoin as a payment method when customers provide Bitcoin payment.\n\nEl Salvador’s $30 bitcoin wool was targeted by hackers, and a large number of residents’ identities were stolen\n\nHackers target Chivo wallet\nAt first, Cynthia Gutierrez, a citizen of Salvador, refused to download Chivo, but she finally decided to open the wallet on October 16th because she learned from fellow Salvadorans that hackers had stolen their identity information and activated it The wallet associated with their ID.\n\nIn an interview, Gutierrez said: \"This situation is increasing and it has entered my intimate circle.\"\n\nWhen Gutierrez entered her personal information, a window popped up in Chivo's wallet stating that her ID number had been associated with the wallet.\n\nEl Salvador’s $30 bitcoin wool was targeted by hackers, and a large number of residents’ identities were stolen\n\nThe identity theft of Gutierrez is one of hundreds of cases reported by Salvadorans since September. Between October 9th and October 14th, Cristosal, a human rights organization in El Salvador, received 755 notifications about Salvadorans reporting that their Chivo wallet identity was stolen.\n\nThe hackers’ large-scale identity theft was based on a motive: each wallet contained $30 worth of Bitcoin, provided by the government of President Nayib Bukele of El Salvador to encourage citizens to use this cryptocurrency .\n\nChivo's system is flawed\nAccording to the official website of Chivo Wallet, opening an account requires scanning the front and back of an individual's car driver's license, and then performing face recognition to verify the identity of the registrant. But some Salvadorans reported evidence of flaws in the system.\n\nAdam Flores, a Salvadoran YouTube user, heard about a case of identity theft by hackers. He remembered that his grandmother hadn't registered the Chivo wallet and decided to test it on the spot. Although Flores only had a copy of his grandmother's car driver's license, he tried it. Surprisingly, Chivo accepted the validity of the application.\n\nFlores completed the verification process and was then asked to perform real-time facial recognition. So I took a picture of a poster on the wall of his room, which shows Sarah Connor, a character in the \"Terminator\" movie series. After a few seconds of verification by the facial recognition system, the photo of the poster passed the verification and a $30 reward was issued.\n\nAfterwards, Flores made another attempt, using a coffee cup to replace the car driver's license, defrauding the facial recognition of the Chivo wallet.\n\nEl Salvador’s $30 bitcoin wool was targeted by hackers, and a large number of residents’ identities were stolen\n\nSalvadorans don’t always try to open an account on their own. According to the human rights organization Cristosal, of the 700 Salvadorans who reported their identity theft, most people asked their acquaintances to try to transfer money through Chivo by putting their ID number in the payee, but they found that the address was \"prepared Good to receive transfers\". In other words, their ID number has been illegally registered.\n\nFearing being impersonated, Ramón Esquivel, another citizen of El Salvador, asked an acquaintance to use his car driver's license to transfer money to a wallet on October 11. To his surprise, the transfer was successful, even though he never activated his account. After the incident, he filed a complaint with the Attorney General’s Office: “I was very angry, and I realized that the hacker had used my identity information. I was used to conduct money laundering activities. These actions were registered in my identity and damaged my integrity. .\"\n\nSavvy hacker\nIn other identity theft cases, hackers even transferred $30 to other hacked accounts instead of hacking their own wallets.\n\nTwo weeks ago, Salwar multimedia host Gabriela Sosa (Gabriela Sosa) tried to activate the Chivo wallet with a driver's license, but an error message popped up on the screen to inform her that she was registered. After the incident, Souza immediately dialed Chivo's official number and was told that she had to go to Chivo's local site. So she went to the help center and finally recovered her account, but the $30 was transferred away.\n\nSo Sosa posted on Twitter the details of the account to which the $30 was transferred. The account user’s name was Michael Santa Cruz.\n\nA few days later, Santa Cruz received the news from Twitter, but he had never activated his Chivo account before. So he tried to open his wallet, but the system showed that the driver's license had been registered. Like Souza, he also found the Chivo Help Center. After restoring his account, he realized that the wallet had been used to receive funds from other hacked accounts.\n\nEl Salvador’s $30 bitcoin fleece was targeted by hackers, and a large number of residents’ identities were stolen. Picture: Transaction carried out with Santa Cruz’s wallet\n\nAcción Ciudadana, a non-profit organization that specializes in audits, submitted a notice to the Attorney General's Office (FGR) on October 12 after Humberto Sáenz, president of the group, and Eduardo Escobar, director, discovered that hackers had registered their Chivo wallets.\n\nAcción Ciudadana stated that as of now, two weeks after submitting the application, the Attorney General's Office has not responded.\n\nLaura Nathalie Hernández is a technical attorney for Legal Novis in El Salvador. She has been receiving assistance requests from victims of identity theft regarding Chivo wallets. According to Hernández, Chivo Wallet should be the first to turn to the identity theft. \"But we don't have much information about who is responsible. We don't know who is managing it. There is no transparency.\"\n\nChivo is not responsible for this, and there is no clear resolution process\nAccording to the Chivo Wallet's terms of use, the authorization of the account is conditional on the KYC process executed by CHIVO SA de CV, and the wallet is created and activated by the government. The verification process \"includes providing the information and documents required to fully comply with the process.\"\n\nAt the same time, the clause also stipulates that the user agrees to \"not disclose or divulge any information, identity information, password or any code used to access the website to a third party.\" For unauthorized third-party access due to hacker attacks or loss of passwords It is not responsible for any loss or damage caused by your account to the user.\n\nThe reporter interviewed Chivo's staff and asked the question: \"Who is responsible for the hacker attack without the information provided by the real account owner?\" But the staff did not answer.\n\nSalwar multimedia host Souza finally recovered her $30 in bitcoin and emphasized that her complaint was not directed at President Bukler, but she wanted to raise awareness of this issue.\n\nGutierrez has not recovered her money. \"I tried to contact customer service, but they didn't reply to me, nor did any agency clarify the process to follow in this case.\"\n\nEskivir said he is not interested in the $30 reward or government applications. \"If I use Bitcoin at all, I will use a wallet to keep my money.\"",
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      "permlink": "meme-coin-boom-is-raging-is-it-another-speculative-bubble",
      "title": "Meme coin boom is raging, is it another speculative bubble?",
      "body": "According to CoinGecko data, as of 5 a.m. on October 28, the 24H lowest price of Bitcoin was around 58,000 USD. This was the first sharp drop after Bitcoin hit a record high of 67,000 USD on October 20, and the biggest drop on the 7th. Is 13%.\n\nThe benefits of the U.S. approval of the Bitcoin futures ETF have been digested a week later. The ETF's development from news to the official listing is also the cycle of Bitcoin from 56,000 USD to 60,000 USD. Combined with market data, the decline of Bitcoin suggests that some investors have already made profits.\n\nThe market is indeed rapidly moving towards greed in the short term. One indicator is the excessive leverage of the Bitcoin market. According to the data website CryptoQuant, when Bitcoin is reaching a new high in this round of price, the estimated leverage on all exchanges is 0.175, which is close to the second highest point in history in April. At that time, the leverage continued to rise and exceeded 0.18 at one time. Bitcoin enters the downward channel. This time, when Bitcoin fell 13%, the leverage ratio had reached 0.19.\n\nExcessive leverage implies that the market is biased toward greed, and it also shows that the market does not have the expected large amount of funds to support prices to continue upward. Another manifestation of greed is the increase in the concentration of speculative sentiment. The Meme coin that retail investors are keen on represents a surge in SHIB, which is like an indicator of a speculative market, which inevitably reminds people of the scene of Meme coin flying around before the last market crash.\n\nHigh leverage blocks Bitcoin's upside\nOn October 27, Bitcoin, which has the largest market capitalization in the crypto asset market, fell to $58,100, which is close to its lowest level since October 15. Since hitting a record high of $67,016 on October 20, it has fallen by 13%.\n\nTony Sycamore, an analyst at the Australian investment platform City Index, attributed the loss of Bitcoin to \"traders profiting from the recent rebound.\" In addition, CoinDesk analyst Omkar observed that in the bitcoin futures market, the Chicago Mercantile Exchange (CME) leveraged fund raised bitcoin bets to a record high in the week ending October 19, which may be In order to profit from the widening gap between futures and spot market prices.\n\nIndeed, from a low of $43,000 in early October to today's $58,000, BTC's monthly increase has been close to 35%. Glassnode's recent data on the chain shows that in mid-September, during the fall of Bitcoin prices, there was a lot of accumulation on the chain. Some analysts believe that it is not surprising that some people are selling from it, stimulated by the breakthrough of new highs and a 35% increase.\n\nFrom the perspective of the investment law of buying low and selling high, it is also very common for Bitcoin to fall when it reaches the top. In this round of rapid decline of more than 13%, the role and impact of \"deleveraging\" seems to be magnifying, because the current Bitcoin The currency leverage ratio is approaching a new high this year, and the market is showing signs of over-leveraging.\n\nAccording to the data website CryptoQuant, as of October 26, the estimated leverage ratio of Bitcoin on all exchanges has reached 0.190, which is close to the highest level in November last year (0.195).\n\nMeme coin boom is raging, is it another speculative bubble? The current estimated leverage of the Bitcoin market is 0.19\n\n\"Estimated leverage\" is calculated by dividing the open interest of all exchanges by the exchange’s Bitcoin reserves, where the number of open contracts is the number of contracts that have not yet been liquidated at the end of a trading cycle, which is The most important indicator of liquidity; and since July, the exchange's bitcoin reserves have been continuously declining. This ratio essentially shows the degree of leverage of ordinary investors.\n\nFrom the historical Bitcoin estimated leverage ratio, when the price rises to a certain stage, when the leverage ratio is too high, it often means that the price has peaked. CryptoQuant’s historical data shows that when Bitcoin is approaching the current round of price highs of around $67,000, the estimated leverage is 0.175, which is close to the second historical high in April. At that time, the leverage continued to rise and exceeded 0.18 at one time. The currency enters the downward channel. This time, when Bitcoin fell 13%, the leverage ratio had reached 0.19.\n\nCryptoQuant CEO Ki Young Ju also said in an interview with Coindesk that now the market is clearly over-leveraged, \"We will soon see some volatility and a lot of liquidation.\"\n\nEnlarged to the general meaning of the financial market, the leverage ratio generally refers to the ratio of total assets to equity capital in the balance sheet. High leverage means that financial assets can obtain a higher return on equity under the stimulus of liquidity brought by leverage during the economic boom; however, when the market reverses, there is insufficient liquidity and excessive leverage will face a substantial decline in returns risks of.\n\nIn this general sense, this round of Bitcoin's rise does not rule out the impact of high leverage, which may imply that the amount of funds supporting the rise itself is not as large as expected, and the upside space is limited.\n\nSpeculation overheated ``SHIB leads the rise of the Meme sector''\nFrom the evening of October 27th, in sharp contrast to the decline of Bitcoin is the uptrend of the Meme coin sector, among which Shiba Inu's ecological token SHIB is the worst.\n\nWhen Bitcoin plummeted to around US$58,000, SHIB set a record high of US$0.000088 since its issuance for more than a year, with a 24-hour increase of 60%. The encrypted asset has been breaking through the previous high since last weekend, with a total market value of US$37 billion. It has surpassed DOGE, the earliest asset born in the Meme sector, and squeezed into the top ten of the crypto asset market value rankings, ranking ninth.\n\nMeme coin boom is raging, is it another speculative bubble? Seven of the top 10 assets in the Meme sector's market capitalization showed gains during the week\n\nThe rise of SHIB against the trend also drove the Meme coin to fly. Data website Coingecko included 73 Meme coins, 31 of which were on the rise within 24 hours. The total market value of this sector was US$74.4 billion, accounting for 2.8% of the total market value of the crypto asset market.\n\nAlthough the proportion is small, this proportion is the result of an increase of 13.8% in the past 24 hours, which shows the new attraction of Meme coin to market funds in the near future. Of course, SHIB took the top spot among them, becoming the crypto asset with the largest trading volume among multiple exchanges in recent days, even surpassing the trading volume of Bitcoin and Ethereum.\n\nStarting this year, Meme coins have become a popular category in the cryptocurrency market. Most of them are created based on jokes, satires and even celebrity effects in the online social environment. For example, Dogecoin DOGE comes from the founder’s opinion Ironically, one of the reasons for the birth of Shiba coin SHIB was to combat DOGE, which has no application value. A token named Floki simply uses the name of the pet dog of Tesla founder Musk.\n\nThis type of Meme coin is often referred to as \"animal coin\" in the crypto circle, and the \"dog concept\" occupies most of it. They often use animal cartoon images as their logo. The circulation is as large as the reproduction ability of animals, and their relative value is also greater. Low. The initial price of SHIB with a circulation of 100 billion yuan was once as low as 10 decimal places. Due to the low price, Meme coin is welcomed by users with small capital. Holders look forward to gaining momentum in the market hype cycle, and speculation is obvious.\n\nFrom April to May this year, DOGE continued to rise after Musk’s call, which drove various Meme currency benchmark-like price competitions, forming a \"zero-zero game style\", and retail market funds were in price carnival Influx in. But after the \"5·12\" Bitcoin crash, they also fell rapidly. Many Meme coins fell by 90% and many holders suffered losses. Investors of encrypted assets have thus reinforced the impression of regularity. In the past, the sharp rise of altcoins meant that the market peaked, but now it is the rise of Meme coin that signals the peak.\n\nCoincidentally, this time when SHIB rose sharply, mainstream crypto assets such as Bitcoin and Ethereum entered a downward channel.\n\nDelphi Digital analysts said in a market report released on Monday, \"Dog concept coins are rising again. This has historically been a sign of overheating the market... The first time the dog concept coins went crazy from April to May this year. In September, as the cryptocurrency market cooled, it fell rapidly. In early September, this type of concept currency was once again all the rage, and the broader cryptocurrency market experienced a considerable amount of deleveraging.”\n\nThe surge in SHIB activity in such assets indicates that speculative enthusiasm may be reaching a tipping point. \"The Crypto Fear and Greed Index has returned to a high level we have not seen since the beginning of March, officially marking the level of \"extreme greed.\" Delphi Digital later said. Said in the market update analysis.\n\nAs of October 28, Bitcoin’s \"Fear and Greed Index\" has dropped from 82 last week’s \"extreme greed\" to 73 today, but it is still in the category of \"greed\", and the performance of Meme coin has already explained the greedy side. The alarm of overheated speculation has sounded.",
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      "permlink": "sorted-out-the-jargon-introduction-of-the-currency-circle-such-as-position-building-stud-airdrop-lock-position-private-placement",
      "title": "Sorted out the jargon introduction of the currency circle, such as position building, stud, airdrop, lock position, private placement, etc.",
      "body": "Today, I have sorted out the introduction of the currency circle, stud, airdrop, lock-up, private placement, etc., for those who do not know the \"jargon\" of the currency circle, come and learn:\n\n1. What is fiat currency?\n\nFiat currency is legal tender, which is issued by the state and the government, and only government credit is used as a guarantee, such as renminbi, U.S. dollars, and so on.\n\n2. What is a token?\n\ntoken, usually translated into a pass. Token is one of the important concepts in the blockchain. Its more widely known name is \"token\", but in the eyes of professional \"chain circle\" people, it is more accurately translated as \"token\", which represents the district A proof of equity on the blockchain, not currency.\n\nThree elements of Token\n\nThe first is the digital equity certificate. The token must be an equity certificate in digital form, representing a kind of right, an inherent and intrinsic value;\n\nThe second is encryption. The authenticity, tamper-proof modification, and privacy protection capabilities of the pass are guaranteed by cryptography;\n\nThe third is to be able to flow in a network, so that it can be verified anytime, anywhere.\n\n3. What is opening a position?\n\nOpening a position in the currency circle is also called opening a position, which refers to a new purchase or sale of a certain amount of digital currency by a trader.\n\n4. What is Stud?\n\nCoin Circle Stud refers to investing all the principal.\n\n5. What is an airdrop?\n\nAirdrop is currently a very popular cryptocurrency marketing method. In order to allow potential investors and those keen on cryptocurrencies to obtain information about the tokens, the token team will regularly conduct airdrops.\n\n6. What is locked position?\n\nLocking a position generally refers to an investor opening a new position that is opposite to the original position after buying and selling a contract when the market shows a trend opposite to his own operation. It is also called a pair of locks, a lock of orders, or even a butterfly double fly.\n\n7. What is candy?\n\nThe coin circle candy is the digital currency that various digital currencies are issued to users for free at the ICO. It is a kind of momentum and publicity by the issuer of the virtual currency project on the project itself.\n\n8. What is a break?\n\nBreaking refers to breaking below, and issuing refers to the issuance price of digital currency. A currency break is when a certain digital currency has fallen below the issued price.\n\n9. What is private placement?\n\nCryptocurrency private equity is a way to invest in cryptocurrency projects, and it is also the best way for cryptocurrency project founders to raise funds for the operation of the platform.\n\n10. How do I look at the candlestick chart?\n\nCandlestick Charts are also known as candlestick charts, Japanese lines, Yin and Yang lines, bar lines, red and black lines, etc. The commonly used term is \"K line\". It is drawn based on the opening price, highest price, lowest price and closing price of each analysis cycle.\n\n11. What is moving bricks?\n\nRecharge cash to platform A with a lower currency price, and then buy bitcoins; then withdraw bitcoins from platform A, and immediately recharge to platform B with higher prices upon receipt; after recharged bitcoins to platform B, immediately Sell, withdraw the cash received immediately, and then repeat the steps.\n\n13. What is ICO?\n\nInitial Coin Offering, originated from the concept of initial public offering (IPO) in the stock market, is a financing behavior in which a blockchain project uses its own virtual currency in exchange for the virtual currency commonly used in market circulation.\n\n14. What is hedging?\n\nGenerally, hedging is the simultaneous execution of two market-related transactions, in opposite directions, equivalent in quantity, and offsetting profits and losses. In the futures contract market, buy the same number of positions in different directions, and when the direction is determined, close the positions in the opposite direction, and keep the positive direction to gain profit.\n\n15. What is the position?\n\nA position is a market agreement that promises the initial position of a purchase and sale contract. The person who buys the contract is a long position and is in the hopeful position; the sell contract is a short position and is in the hopeful position.\n\n16. What are the benefits?\n\nFavorable: It refers to the news that the currency has gained mainstream media attention, or that there is a breakthrough in a certain technological application, which is conducive to stimulating the price increase, it is called favorable.\n\n17. What is bad?\n\nNegative: News that prompted the currency price to fall, such as Bitcoin technical problems, central bank suppression, etc.\n\n18. What is the trading volume?\n\nReflect the number of transactions and the number of people buying and selling. Generally, it can be measured by the number of transaction coins and the transaction amount.\n\n19. What is rebound?\n\nA price adjustment phenomenon in which the currency price rebounds due to a rapid decline in a downward trend. The rebound is smaller than the decline.\n\n20. What is consolidation?\n\nUsually refers to the market where the price changes are small, relatively stable, and the highest price is not much different from the lowest price.\n\n21. What is a callback?\n\nIn the bull market, the price of the currency has risen strongly, but due to the rapid rise in the price, it has temporarily fallen back, which is called a callback. The decline is smaller than the increase.\n\n22. What is leverage?\n\nLeveraged trading, as the name suggests, is the use of small amounts of funds to invest several times the original amount, in order to obtain several times the return rate relative to the fluctuation of the investment target, or loss",
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      "parent_permlink": "btc",
      "author": "ipfs171",
      "permlink": "the-three-major-exchanges-in-the-currency-circle-confirmed-their-withdrawal-from-the-mainland-market-and-the-currency-circle-was",
      "title": "The three major exchanges in the currency circle confirmed their withdrawal from the mainland market, and the currency circle was hunted across the board",
      "body": "Under the continuous crackdown on supervision, domestic virtual currency transactions are completely \"cool\". From the suspension of user registration in mainland China to the forced removal of users in mainland China, the regulatory authorities have achieved significant results in reorganization. The reporter's statistics found that as of October 14, at least 10 virtual currency exchanges have announced the withdrawal of stock users in mainland China, and some small and medium-sized institutions have directly announced the closure.\nAmong them, Binance and OKEx issued announcements on October 13 one after another. Binance announced that it would delist the C2CCNY trading zone at the end of the year and conduct a check on users in mainland China. OKEx stated that it will continue to maintain its policy of \"exiting the mainland China market\". But it did not explain the specific measures. And as the exchange cut off the trading channel is a foregone conclusion, many users in the currency circle have also begun to try to find a new trading path before the \"limit\".\nHead trading platform withdraws one after another\nSince the central bank and other ten departments once again blocked virtual currencies and their trading activities on September 24, the virtual currency exchanges have also set off an ebb tide. On October 13, the top virtual currency trading platforms Binance and OKEx issued announcements one after another, explaining the regulatory policies in Mainland China.\nAccording to the \"Notice on Delisting C2CCNY Trading Zone and User Inventory in Mainland China\" issued by Binance, in response to local government regulatory policy requirements, Binance C2C will delist CNY trading at 24:00 on December 31, 2021. Area, and will check the platform users at the same time.\n\nOpen Tencent News to see more pictures>\nBinance mentioned in the announcement that it will conduct a check on platform users. If the platform finds users in mainland China, their corresponding accounts will be switched to the \"withdrawal only\" mode, and users will only be able to withdraw, withdraw, redeem, and Liquidation operation. Binance will notify the corresponding users by email 7 days before the account switch.\nOKEx also mentioned in the \"Notice on Regulatory Policies in Mainland China\" that the company has shifted its business focus to the international market since September 2017, and does not promote and serve the Chinese mainland market, and its website cannot be accessed in mainland China , App has also removed all application markets in mainland China. Will continue to maintain the \"exit the Chinese mainland market\" policy, and will not set up offices and teams in mainland China. Regarding how to manage users in mainland China who are still trading on the platform, OKEx did not provide details in the announcement.\nPrior to Binance and OKEx, Huobi has issued a number of announcements on the clearing and withdrawal process of stock users in mainland China since September 24, explaining issues such as closing transactions, suspensions, and withdrawals.\nFor the withdrawal of the exchange, many industry analysts bluntly said it was the \"only option.\" Liu Feng, director of the Blockchain Technology and Application Research Center of Shanghai University of International Business and Economics, also said that judging from the previous documents issued by multiple ministries and commissions, China's supervision of virtual currencies has maintained a high pressure, and it is not surprising that virtual currency exchanges withdraw from the mainland market.",
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      "parent_permlink": "ipfs",
      "author": "ipfs171",
      "permlink": "what-is-bitcoin",
      "title": "What is Bitcoin?",
      "body": "Bitcoin (BTC, abbreviated as BTC) is a digital currency with a constant total amount of 21 million, which has the same characteristics as the Internet, such as decentralization, globalization, and anonymity. Transferring bitcoins to the other side of the earth is as simple as sending an email, low cost, and without any restrictions. Bitcoin is therefore used in cross-border trade, payment, remittance and other fields. Due to its broad prospects and huge room for imagination, Bitcoin's price has continued to rise since its birth in 2009. In 2011, the price of the currency reached 1 U.S. dollar, and in 2013 it reached a maximum of 1,200 U.S. dollars. The price of more than 1 ounce of gold is more than 1 ounce of gold. The current currency price is about 450 U.S. dollars)\nBitcoin began in 2008 with the mysterious character Satoshi Nakamoto's paper \"Bitcoin: A Peer-to-Peer Electronic Cash System (Chinese Version)\". In the six years since its birth, Bitcoin, as an unprecedented new currency, has experienced countless market tests and technical attacks, and has always stood firm. Now Bitcoin has grown into a currency system with millions of users around the world, tens of thousands of merchants accepting payments, and a market value of up to tens of billions of dollars. Bitcoin-related companies have also attracted nearly one billion U.S. dollars in venture equity investment from hundreds of well-known venture capital funds, companies, and individuals, including traditional financial giants such as Visa, Nasdaq, and Citi: \"Visa, Nasdaq Daq and other giants invested in the blockchain company Chain 30 million US dollars; MasterCard (MasterCard): \"MasterCard, New York Life Insurance joined the digital currency group in a new round of financing\"; Goldman Sachs, IDG Capital: \"Bitcoin company Circle received 5000 Ten thousand US dollars financing\"; PayPal co-founder, eBay co-founder, Qualcomm: \"Start-up Bitcoin company 21 received huge financing of 116 million US dollars\"; New York Stock Exchange (NYSE): \"Coinbase officially completed 75 million US dollars in Series C financing\" ; Yahoo founder Yang Zhiyuan, Li Ka-shing's venture capital: \"BitPay, a commercial trading platform for Bitcoin, raised 30 million US dollars, with a valuation of 160 million US dollars\" and so on. There are also some venture capital funds that directly purchased Bitcoin. For example, in the US FBI's auction of seized Bitcoin on the dark web, one of Silicon Valley's most well-known investors Tim Draper (Baidu, Hotmail, Skype, Tesla) People) spent 20 million US dollars to buy 32,000 bitcoins, the Bitcoin Investment Trust in the United States bought 48,000 bitcoins and so on. (Netease News \"Three anonymous bidders took the \"Silk Road\" 50,000 Bitcoins\") The Internet has broken the geographical and national boundaries of information dissemination. Freedom of information has greatly promoted the development of human economy, politics, and culture. Bitcoin will Further breaking down financial and value communication barriers based on national boundaries will have a profound impact on the world. Bhagwan Chowdhry, a professor of finance at the University of California, made the following evaluation when he nominated Satoshi Nakamoto as a candidate for the Nobel Prize in Economics: I strongly recommend that this award be awarded to Satoshi Nakamoto. The invention of Bitcoin is simply revolutionary. Satoshi Nakamoto’s contribution will not only completely change the way we think about money, it is likely to subvert the central bank’s role in monetary policy, and will destroy high-cost remittance services such as Western Union, and completely eliminate Visa and MasterCard. They charge 2-4% intermediary transaction tax with Paypal, which eliminates bothersome and expensive notary and intermediary services. In fact, it will completely change the way of legal contracts.",
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      "body": "yes sir",
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      "body": "Great analysis! Let's support each other to grow faster",
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      "author": "ipfs171",
      "permlink": "how-much-did-you-make-in-bitcoin-trading",
      "title": "How much did you make in bitcoin trading?",
      "body": "The money-making examples shared in this answer are very inducing, including today (May 9, 2021), Shib increased by 4 times a day and 30 times a month, which ignited the coin circle again after Dogecoin. The richest man, Musk, called out that everyone's heart to invest in digital currency is already ready to move. But what I want to say is, before you enter the market, please first abandon the unprovoked illusion that \"if I buy xx coins at xx time point is now hundreds of times\", \"buying xx now is the next xx\", this Emotions will only make you enter the market impulsively and forget about risks, and investment will lose money once you forget about risks. It is true that there are people who have made countless wealth in this market and completed their life leapfrogging. These stories are spread by word of mouth every day, but, more often, countless people have left the market with a loss, but they have remained silent. . This article is written for newcomers who have just entered the investment market. If you plan to enter the market, please read it repeatedly. 1. What you will enter is a 24-hour open trading, you can go long and short at any time, any leverage contract, many temptations, extremely risky cryptocurrency investment market, there is no strict policy supervision and protection, there is no limit on the limit, and even Some project parties issue coins on exchanges just to circulate money. 2. Please understand that what you invest in is the blockchain technology anchored behind the cryptocurrency. Like Internet technology, it is likely to become the mainstream in the next 5-10 years. Blockchain technology does have incomparable advantages over traditional technologies in some respects, and is especially suitable for the financial sector, but we also need to see its shortcomings, and don't be dazzled by market sentiment. 3. To be clear, the cryptocurrency we invest in is just a single token applied in a certain scenario based on blockchain technology, and does not represent the entire blockchain. In the future, blockchain technology may develop greatly, but maybe at that time, there will be better technical theories, more popular economic models, and better quality projects, and the tokens you hold now will be the project at that time The presence or absence is not certain. 4. According to statistics, the 3-year mortality rate of blockchain projects is above 92%, that is, less than 8% of the projects can survive the 3-year cycle, and of these 8%, only the top Buy at the right time and at the very right price, and regardless of the bull market or bear market, it has fallen by 90% or increased by 2 times or 3 times. Never abandon or give up, hold firmly, and finally it will be possible for us to see a hundredfold gain. This, most of the time has no relationship with ordinary people. (Note: If you bought the top 20 cryptocurrencies in the 2017 bull market and held them until the current bull market in 2021, there are only 6 paybacks, and 2 have more than 3 times the return. This round Bull market, in the top 20 rankings, 13 of the top 20 in the last bull market fell out of the rankings) 5. Therefore, investing in cryptocurrency is a positive mentality, investment is not speculation, learn first, and then use cognition to realize , Try to find deterministic opportunities in the market. Finally, I would like to give you the iron rule of investment: \"Buy is not rushed, sell is not greedy, stop loss and not drag, varieties will not be scattered, never be dissatisfied, and follow the trend.\" I will talk about so much today, and see other answers when I have time.",
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      "author": "ipfs171",
      "permlink": "tell-a-joke-ipfs-has-zero-popularity-overseas",
      "title": "Tell a joke, IPFS has zero popularity overseas",
      "body": "After tasting the sweetness from the DeFi outlet, Feifei is ready to ambush the next popular sector. There is no doubt that it is the IPFS-based storage sector. Of the ten in the circle of friends, nine out of ten are blowing IPFS. Since DeFi is dominated by overseas players, Twitter is the most used recently. Twitter is similar to domestic Weibo. Both Chinese projects and big V will open Weibo. Similarly, overseas projects and big V will also open Twitter. Twitter is The main social position for players in the overseas currency circle.\n\nI was going to look at how IPFS and Filecoin are viewed overseas on Twitter. The result is very surprising. The popularity of overseas is almost 0. The most popular posts in recent days have single digit likes and 99% of posts are. 0 comments. Fatty even suspected that it was a mistake to type \"IPFS/Filecoin\". It was confirmed on the third day that IPFS/Filecoin really has no popularity overseas, and its popularity is less than 1% of EOS, which has fallen to the altar.\n\n![8c1001e93901213ffe0ae59cf2edc5d72f2e9542.jpeg](https://cdn.steemitimages.com/DQmNyshFKLYVjMKs8dUh58pfj9DcpftLJDx3u9iwzZNdnRN/8c1001e93901213ffe0ae59cf2edc5d72f2e9542.jpeg)\n\n\nOn the other hand, in the Chinese currency circle, almost no one knows about IPFS. Institutions, exchanges, big guys, and miners push IPFS as desperately as they did. Even a big guy has already called out FIL a hundred times. To put it bluntly, IPFS is a huge bubble created by the joint efforts of domestic scythes, which is tailor-made for domestic investors.\n\n1. How did IPFS become popular?\n\nDon't think too complicated about IPFS. It is a protocol, similar to the current TCP/IP protocol. Filecoin is a profitable project to make this protocol stronger. There are three main reasons for the emergence of IPFS in China:\n\n1. The first driving force from the MLM fraud team. Feifei first learned that IFPS was at a conference in Wuhan and watched her aunt carrying money to buy an IFPS mining machine. The most famous of these scammers is undoubtedly the \"Interplanetary Snail\". The price of the Snail Interplanetary Mining Machine is as high as 5,875 yuan, and the machine with this configuration costs less than 1,000 yuan, and the final volume is more than 2 billion yuan.\n\n2. The mining circle strives to find a new way out. First of all, Filecoin's reward mechanism attracts miners, and 70% of Tokens are mining rewards. For new miners, Filecoin has more opportunities than mainstream currencies such as Bitcoin and Ethereum. Maybe they will get the first bonus and become a flying pig. In addition, in the context of Bitcoin's production reduction and POS becoming mainstream, miners are too difficult to find new tracks.\n\n3. A good concept + a good circle of money. The root cause of the explosion of IFPS is that this thing is too easy to collect money. It is sold in iron boxes and the concept of IFPS is so popular that you can hardly imagine it. There are also cloud computing power and FIL futures that the exchanges are peddling. For example, the FIL futures that have skyrocketed recently. Don’t look at their rise. In fact, most exchanges sell FIL futures out of thin air, and the exchange’s gross FIL spot will be taken when it expires. Does not come out. I made the money, goods? I do not have.\n\nTherefore, those who hold FIL futures should run away.\n\n4. The wolf has been hungry for too long and needs to eat meat. Since 312, the blockchain industry has been bleak. It’s not that DeFi has exploded recently. It’s a pity that DeFi has nothing to do with the Chinese currency industry. The main force of DeFi is overseas. The Chinese currency industry lacks a technical atmosphere and is mainly speculative. It can be said that DeFi is perfect. What should we do if the wolves have been hungry for too long? With the good concept of IFPS, a gluttonous feast begins.\n\n2. Should I participate in IFPS?\n\nFilecoin is expected to go live on the mainnet around August. Can you speculate on the premise that it is a bubble?\n\nFirst of all, I do not deny the value of IFPS and Filecoin. This is indeed a serious project. IPFS has been implemented as early as 15 years. Filecoin completed a fundraising of 257 million US dollars in August 2017, setting the early stage of the global blockchain project at that time. Financing records.\n\nEveryone wants to get in and share the pie, if someone makes a profit, someone loses. The Filecoin mainnet is online. The first batch of miners can indeed eat meat, but it is more of another possibility. The performance water of the miners you bought is just a pile of iron slag, which cannot be recovered by 18 generations. Book.\n\nThere is also the so-called cloud computing power that guarantees high yields. It is purely a rogue. It always claims several times the annualized yield. There are two factors affecting the yield. One is the total computing power. The greater the total computing power involved, the greater the output. The smaller the value, the second is the secondary market price of FIL. These two factors are both dynamic and uncertain. How does your cloud computing power guarantee a high rate of return? Who gives you the confidence?\n\nIn addition, after Filecoin goes online, there will not be too many real storage requirements. Don't talk about subverting centralized storage. Only after IPFS continues to scale, security and stability reach a certain level, then real commercial grade will appear. Storage requirements. In the end, it is still a question mark whether the so-called real demand will appear.\n\nWhen you see a pack of wolves looking around in the IPFS market, and they are still hungry for a long time, how can we play with wolves, our sheep might as well hide first. Especially when the obvious risks are greater than the benefits, you should stay still and wait.",
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      "author": "ipfs171",
      "permlink": "the-market-needs-a-deep-understanding-of-ipfs",
      "title": "The market needs a deep understanding of IPFS",
      "body": "As a representative protocol for distributed storage, IPFS has received many doubts, and IPFS needs to be more deeply understood and accepted by the market.\n\nIn 2018, the public chain project broke out. The trading network represented by Ethereum and EOS attracted much attention in early 2018. After the public's attention gradually increased, projects with distributed storage as the main function began to appear, including storij and Filecoin As a representative, among these distributed storage projects, the IPFS protocol technology has attracted the most attention.\n\nNowadays, many projects have applied the IPFS protocol to build distributed storage networks in public chain projects, but because the technology is not yet perfect, the industry has different opinions on its technology. On December 16, 2018, at the Global Consensus Security Industry Summit, Zhou Huan, the founder of IPFS.FUND, accepted an interview with Golden Finance to discuss the status quo and application prospects of IPFS.\n\n\n\nIPFS represents an idea\n\nMost people know that IPFS technology is through Filecoin. In the Filecoin project, IPFS is one of the layers. In the IPFS protocol, Filecoin also adds, for example, economic systems and incentive mechanisms. Therefore, many people will also confuse IPFS with the Filecoin project.\n\nIn fact, IPFS is just a protocol method, and its function is mainly used for fast addressing in data or file query. Compared with the traditional Internet http protocol, IPFS has a point-to-point structure that is more efficient and fast. Based on the characteristics of IPFS, it is very suitable for combining with other public chains, or forming a self-contained chain to expand development based on IPFS.\n\nIn Zhou Huan's view, IPFS represents a kind of distributed storage communication thought. \"The idea of ​​the IPFS protocol is not limited to distributed storage, but most projects currently use IPFS to solve storage problems. For example, Ethereum and EOS are currently exploring storage solutions based on the IPFS protocol.\" Zhou Huan revealed that there will be future Ethereum and EOS. A token similar to ERC20 may appear to solve economic problems in distributed storage.\n\nThe status quo and breakthroughs of IPFS\n\n\"At present, because Filecoin has not yet been launched, most of the projects are being developed based on the IPFS protocol.\" Zhou Huan said.\n\nHowever, according to the reporter of Golden Finance and Economics, the outside world has various forms of cognition of IPFS technology. Many projects that have used the IPFS protocol mentioned that “IPFS has a slightly poorer code quality and basically cannot be used in applications.” “IPFS is difficult to use, and the experience is very good. Poor\", and even some projects rewrite the code in its programming language in order to realize the technical solution of IPFS.\n\nZhou Huan explained this.\n\n\"Many people say that the quality of IPFS code is poor and the user experience is not good. It is determined by the current development logic of IPFS. The current version of IPFS is 0.477, and even the official version 1.0 has not been reached. The improvement process is divided into two stages. The first stage is a period of continuous addition of functions. During this period, many tentative functions have been added. The second stage is the streamlining period. The functions that are easy to use will be selected and the inconvenient functions will be deleted.\" Zhou Huan added, and it is now in the first stage. The beginning of the two stages. The previous poor experience is normal, but the future IPFS technology will be integrated into the scene application in a senseless state.\n\nZhou Huan also explained its specific lack of experience. After the continuous joining in the first stage, the operating capacity of a running IPFS node was severely limited, because its resource occupancy rate for operating equipment was too high, basically occupying 100% of the equipment. CPU processing power, and let the equipment used in the shutdown state. \"Running an IPFS node now is equivalent to opening a Xunlei plus a BT plus a few extremely memory-intensive software in the computer. Naturally, the computer won't move.\"\n\nAt present, the code of IPFS is constantly being improved by developers, and running complex code is simplified. Zhou Huan mentioned that the current relatively complete code version is written in JS language, and nodes can be run directly on the Web side, such as the Python version, etc. It is still under development. If the code is perfect and the complex functions are deleted, the operation of the IPFS node will only occupy 5%-15% of the resources.\n\nThe technology of the IPFS protocol has been improved. In order to better implement distributed storage, IPFS still needs a lot of breakthroughs. \"In the IPFS protocol, there are no issues about incentive mechanisms and storage arrangements. For example, the redundancy backup problem mentioned by Filecoin, which does not appear in IPFS technology, and for more converged applications and landing applications, it is economical. The solution of the mechanism is extremely important. The core is the question of how many tokens are used to let others store data for users.\" Zhou Huan explained.\n\nAt present, most of the IPFS technology is applied in distributed storage, where the storage nodes are distributed in large numbers, and there will inevitably be C-side users joining, but the same problem will be that the instability of the C-side storage nodes will cause file storage. The security cannot be guaranteed. Zhou Huan believes that as long as the nodes store data in the agreed manner, the problem can be solved. In the future, for example, the DPOS mechanism of EOS may make the IPFS network more stable.\n\nWrite at the end\n\nBlockchain is self-organizing. Under the same rules, participants will have various differences, and IPFS will also contact various participants. \"IPFS is applicable to any industry. Judging from the current industry feedback, we have a deep misunderstanding of IPFS. Early evangelists made everyone expect too much of the benefits of IPFS. At the same time, they blindly believe that they are unwilling to understand its in-depth content. Ignore the complexity of its implementation.\" Zhou Huan said.\n\nIndeed, in the crazy bull market at the beginning of the year, all projects that can appear in the form of mining were regarded as profitable machines by many users. Therefore, most people paid more attention to mining machines, but they didn't know the technology carefully.\n\nJust like the new IPFS mining machine, the high-priced IPFS mining machine has raised doubts among industry insiders. “Most people are definitely concerned about the cost of the machine. In fact, the cost of 50M dedicated line bandwidth for a year is already It’s 2W.\"\n\n![微信图片_20211021202111.jpg](https://cdn.steemitimages.com/DQmTPdBkR4Dd5jdhu9J2XDs1mn4ADGzXaHm4fG7i7k2i1jA/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202111.jpg)\n\nIPFS technology represents the future distributed storage form, which is a must for the future blockchain value storage. Beginning to understand IPFS technology in depth means understanding the future value of the blockchain.\n![微信图片_20211021202122.jpg](https://cdn.steemitimages.com/DQmRCZEFxgxjAfRNPRKvu3qoyuYNAD2PSe7rMLaCFEoEWsg/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202122.jpg)\n\n![微信图片_20211021202131.jpg](https://cdn.steemitimages.com/DQmYtb38unnr58kWVk1Y2bqzFeqhZyEfjRd8KpCd4SRwQoe/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202131.jpg)",
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      "permlink": "the-computing-power-war-has-triggered-a-consensus-crisis-and-the-decentralization-of-the-blockchain-is-held-hostage-by",
      "title": "The computing power war has triggered a consensus crisis, and the decentralization of the blockchain is held hostage by \"centralization\"?",
      "body": "Since the end of 2017, ViaBTC, a mining pool invested by Bitmain, has dug the first block of BCH. BCH is forked from BTC, and a hard fork is carried out every 6 months. The BCH official website issued an announcement some time ago: The Bitcoin Cash network will undergo a hard fork at 00:40:00 on November 16, 2018. However, this hard fork has evolved into a computing power war due to the \"declaration of war\" by \"Ao Ben Satoshi\".\n\nThe origin of the war comes from the disagreement of opinions: Bitmain, led by Wu Jihan, hopes that BCH will develop in the direction of an infrastructure public chain similar to Ethereum while maintaining a block size of 32M, so that BCH will have more Function; the community led by \"Ao Ben Satoshi\" hopes that BCH will maintain Satoshi Nakamoto's original vision, advocating to change the block size to 128M without making other changes.\n\nThe two parties began to gather their settlement power, and Satoshi Oben said: \"If you dig BCH, I will smash BTC. Don't blame me for smashing 1000.\"\n\n\n\nAt 02:16 on November 16th, the BCH hard fork war came to an end. BCH ABC, led by Bitmain and Antpool, and BCH SV, led by CoinGeek and nChain, officially separated.\n\n\n\nSubsequently, Wu Jihan tweeted that: after this new block, there will be no more troublemakers in the BCH community! congratulate!\n\n\n\nThe supporter of Ao Ben Satoshi believes that BCH has successfully branched out of BCH SV, which is considered a victory. Satoshi Oben personally said on Twitter: Please remember that computing power is a marathon, not a sprint. Don't judge the outcome prematurely.\n\n\n\nWhat Oben Cong said is true. Whether the two forked chains are successful, the key is to look at BCH ABC and BCH\nWhether SV can produce blocks stably, and whether there is a massive retracement of blocks between the two chains. After the Bitcoin Cash hard fork, blocks on the Bitcoin ABC chain immediately began to fill in meaningless small transactions. ABC lead developer Amaury\nSéchet said that according to public data, the BCH mining pool CoinGeek is now likely to be preparing to launch an attack on the ABC chain. After the fork, they still have 2\nThe computing power of exahash has not yet been put into use. So as long as Satoshi Aoben doesn't give up, this guerrilla warfare will continue to be fought. How long is this time? It may be clear in a few days, or it may last for several months.\n\nAfter the BCH hard fork, as of 14:40 on the 16th, BCH ABC and BCH will be listed\nThere are three SV exchanges, namely Bitfinex, Poloniex and HitBTC, and then Binance and Gate.io announced that they will list BCH ABC and BCH\nSV. The price of BCH ABC is generally about four times that of BCH SV.\n\nCompared with exchanges and \"mining tyrants\" who are either neutral or support Bitmain's position, most believers are relatively \"pessimistic.\"\n\n\n\nThe characteristics of Bitcoin's decentralization, immutability of information, and anonymity endow its currency attributes, and the material rewards for miners attract miners to maintain the network with computing power and build communities together.\nBitcoin Cash inherits the transaction function of Bitcoin digital currency, but it is becoming more and more centralized.\nThe advantages of centralization are of course obvious. “Concentrate on doing big things” shortens the process of matching opinions, promotes faster iteration, more efficient, and more powerful functions, and further expansion will advance faster. But is this still something we reached a consensus on? In addition to the above features, does Bitcoin have trustlessness, openness, and autonomy?\n\nSomeone pointed out that this battle of computing power of BCH is just a performance by Wu Jihan and Ao Bencong.\n\n\n\nAccording to Bitcoin Core developer Jimmy Song, BCH ABC and BCH SV are mining at a loss. The mining cost of BCH ABC is 3 times higher than that of BTC, and BCH\nSV mining costs are 5 times higher than BTC. Unless the gains of BCH ABC and BCH SV far exceed those of BTC, the miners of these two chains will lose their money. According to BitMEX\nAccording to the news released by Research today, since the BCH hard fork \"Hash Power Battle\", most of the computing power of the two parties has been rented. The estimated rent is 8.1 million U.S. dollars, and the total income loss of BCH miners is as high as 6.1 million U.S. dollars.\n\nCoupled with the decline in prices of almost all currencies, according to Huobi's data today, BTC has fallen rapidly and has fallen below 4800.\nUSDT hit a new low this year, and ETH also fell sharply, falling below US$150. Haru Capital partner Wu Yanjun said: According to calculations, S7 has been unable to make ends meet. In fact, after excluding network connection loss, mining machine failures, and mining pool commissions, S9 has basically no revenue, and a large number of ETH mining machines are shutting down.\nThis \"fairy fight\" not only consumes consensus, but also harms the interests of miners\n: Not to mention the high cost of mining, one of the two chains is likely to be eliminated, then the miners on this chain can be described as a waste of water, even if elimination is not considered, the instability of the chain will lead to data confusion And lost.\n\nAs an IPFS community, the editor can't help thinking, what would happen if the same situation happened on Filecoin?\n\nFilecoin is the official incentive layer of IPFS and a blockchain project. But unlike BCH, Filecoin is not a chain-like structure, but a network-like structure.\n\n\n\nFilecoin's block data structure adopts the DAG structure, abandoning the consensus mechanism formed by the previous blockchain that is highly dependent on computing resources and energy consumption, and reusing meaningful work to form a consensus mechanism. This is PFT (power\nfault\ntolerance), an evolutionary version of the Byzantine fault tolerance mechanism. The storage capacity currently used by the miners in the network and the generated space-time proofs are converted into voting weights, and then nodes use this weight to elect one or more leader nodes, and the leader nodes create new blocks and spread them to the network.\n\nThis means that Filecoin's network is not impossible to fork, but its fork is to determine the main chain in the form of the \"heaviest chain\" rather than the \"longest chain\"\n. At the same time, even if Filecoin has a fork, its impact is that the mechanism and method of accounting by miners will change. It will not affect the storage and retrieval functions of the Filecoin network. You can still find what you want through the hash value. (However, it may be necessary to switch the chain), the previously stored content will still not disappear. For Filecoin,\nThe goal of its existence is to allow everyone to participate in the IPFS distributed storage, enjoy a distributed and decentralized storage experience, and make the dissemination and acquisition of information faster and safer, rather than just a public ledger.\n.\n\nI remember that when we first came into contact with Bitcoin, we always used Alipay as an analogy: Bitcoin transaction is that we remove third parties like Alipay and conduct transactions on the standpoint of trustlessness and decentralization. It is a pity that after this battle of computing power, a completely decentralized system seems to have only achieved disintermediation.\n\nThe centralization of BCH is becoming more and more obvious, and BTC now shows a high degree of concentration in terms of currency holdings and computing power, and even most digital currencies are games between big players.\nWe can only rely on the development of blockchain technology to integrate blockchain with reality more. The method of decentralization, in addition to eliminating centralization, is to let more people participate.\n![微信图片_20211021202111.jpg](https://cdn.steemitimages.com/DQmTPdBkR4Dd5jdhu9J2XDs1mn4ADGzXaHm4fG7i7k2i1jA/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202111.jpg)\n![微信图片_20211021202122.jpg](https://cdn.steemitimages.com/DQmRCZEFxgxjAfRNPRKvu3qoyuYNAD2PSe7rMLaCFEoEWsg/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202122.jpg)\n![微信图片_20211021202131.jpg](https://cdn.steemitimages.com/DQmYtb38unnr58kWVk1Y2bqzFeqhZyEfjRd8KpCd4SRwQoe/%E5%BE%AE%E4%BF%A1%E5%9B%BE%E7%89%87_20211021202131.jpg)",
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      "author": "ipfs171",
      "permlink": "blockchain-and-distributed-network-the-ultimate-way-to-defend-individual-value",
      "title": "Blockchain and distributed network-the ultimate way to defend individual value",
      "body": "On August 4, it was hosted by the Distributed Storage Branch of the China Private Technology Promotion Association, co-organized by Xi’an Smart and Shenzhen Chain Finance, and received the guidance and support of the “New Infrastructure, New Opportunities, Blockchain Distributed \"Storage Industry Conference\" was grandly held in Xi'an.\n\nIPFS.FUND Zhou Huan was invited to give a speech.\n\nBlockchain and distributed network-the ultimate way to defend individual value\n\nThe following is the main content of Zhou Huan's speech:\n\nWhen we are talking about blockchain, what are we talking about?\n\nGet rich overnight? Pay back in 7 days? Neither, but at its root, we have to look at the application scenarios of blockchain in the real world.\n\nTools-the application of blockchain in points\n\nReplace the original point form with the form of blockchain token.\n\nThe open, transparent, non-tamperable, and traceable characteristics of the blockchain can make the issuance and consumption of points more transparent, improve liquidity, and even realize cross-merchant, cross-platform exchange, so as to achieve the universal points that many traditional point operators hope , Points Alliance.\n\nWhen the points are blockchained into point coins, they have the nature of currency. The generation, use, and invalidation of points can be combined with some of the token economy gameplay methods, such as lock-up mining, transaction mining, repurchase and destruction, and zone Block chain games, etc.\n\nTechnology-Blockchain-level service platform\n\nWell-known domestic Internet companies, such as Alibaba and JD.com, have built blockchain-level service platforms. Blockchain has many application scenarios in this regard. Such as bills, settlements and so on.\n\nIn the blockchain bill system, bill is a kind of valuable certificate, which always needs to hide the role of \"third party\" in transmission to ensure the safety and reliability of both parties to the transaction. For example, in electronic bill transactions, both parties to the transaction have actually passed the information interaction and authentication of the PBOC's ECDS system; in paper bill transactions, the third party trusted by both parties is the authenticity of the bill. However, with the help of blockchain, neither a third party is required to supervise and verify the information transmitted by the two parties in the transaction, nor a specific physical object as a proof of trust between the two parties, which realizes the \"invisible\" transfer of value between peers. .\n\nIn the blockchain world, Bitcoin is a peer-to-peer transaction, and there is no clearing and settlement link-payment is settlement. Utilizing the characteristics of blockchain that every transaction is recorded and cannot be tampered with, traditional banks can reduce the frequency of settlement. Domestic or international clearing companies have been trying to use blockchain technology to build their systems very early. For example, the Australian stock exchange has been trying to build its stock exchange on blockchain technology, trying to The settlement link is completed with blockchain technology.\n\nMethod-Blockchain + Supply Chain Finance\n\nMoody's, a world-renowned bond rating agency, has given 127 blockchain cases, from points to transaction clearing, from document storage to supply chain management, from cross-border payments to supply chain finance, and various applications emerge in an endless stream.\n\nAmong so many applications, it is the field of supply chain finance that has attracted much attention, and the progress of commercialization has been rapid. This is because the scenario of supply chain finance has a trillion-level market scale.\n\nHow do blockchain companies cut into supply chain finance?\n\nOne is to directly cooperate with core companies/platforms to provide them with underlying blockchain solutions. After accumulating enough data, they build alliance chains to connect funders to provide financial services, which is the well-known alliance chain model.\n\nThe second is to start with the provision of supply chain management services, such as traceability, tracking, visualization, etc., to integrate information flow, logistics and capital flow, and engage in financial services on this basis, that is, the private chain model.\n\nBlockchain and distributed network-the ultimate way to defend individual value\n\nAfter talking about the blockchain, let's talk about why IPFS can get such a large amount of attention in the blockchain field.\n\nIPFS brings the spirit of blockchain into full play from the moral level. There is a saying in the Tao Te Ching that \"the opposite is the movement of the Tao, and the weak are the use of the Tao\". IPFS perfectly interprets the idea of ​​\"Movement of the Opposite Way\".\n\nIPFS is based on big data. If IPFS is to realize its potential, it must be based on data. It is constantly grabbing data, and the data itself is very weak. For example, each user in companies such as Goole, Facebook, Amazon, etc. The data seems to be overweight, but when the scale is relatively large, the user data is very weak, which is \"the use of the weak.\"\n\nIPFS is applicable to any industry. Judging from the current industry feedback, we have a deep misunderstanding of IPFS. Early evangelists made everyone expect too much of the benefits of IPFS. At the same time, they blindly believe that they are not willing to understand its in-depth content and ignore it. In order to improve the complexity of its implementation.\n![40.jpg](https://cdn.steemitimages.com/DQmddf8tHoLdbukJcdy2xS2nZaSQNUaqYamZ4ERUShdbahz/40.jpg)",
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      "title": "Filecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos",
      "body": "Inside Blockstack, we are considering the system design of the \"encrypted economy\", especially when we are about to release our own mining system, and when we are about to sell Blockstack network tokens.\n\nThe networks we have studied most extensively include Bitcoin, Ethereum, Zcash, and Tezos because they are truly independent systems with differentiated factors, strong teams, and promising market opportunities.\n\nIn addition to these four (interstellar community: the original text is \"three\", should be a clerical error) projects, Filecoin is also particularly interesting to us, because we see that it also has the above characteristics. With the sale of Filecoin, I think this is a good opportunity for us to share some analysis on system economics and its comparison with Bitcoin, Ethereum, Zcash and Tezos.\n\nsupply\n\nThe supply of Filecoin consists of four components: supply of miners (interstellar community: here refers to the proceeds of mining), supply of protocol laboratory, supply of Filecoin Foundation and supply of sales.\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos\n\nThe supply of miners follows an exponential decay curve with a half-life of 6 years.\n\nWe will discuss it further later.\n\nThe protocol laboratory supply and the Filecoin Foundation supply will be linearly released within a 6-year period.\n\nAt the same time, sales and supply have different supply cycles (interstellar community: here refers to the lock-in period). Most of the supply cycle is 6 months, while the permitted supply cycle for consultant status is one, two or three years. As far as this graph is concerned, I averaged the supply period of this part to one year.\n\nThe total number of Filecoin will be 2 billion.\n\nProportion of supply after N years\n\nAs mentioned earlier, the supply plan of Filecoin miners follows an exponential decay curve with a half-life of 6 years. This is similar to the Bitcoin supply plan, but there are two important differences.\n\nFirst, Filecoin has a half-life of 6 years, while Bitcoin has a half-life of 4 years. Second, although Bitcoin's exponential decay is sampled every 4 years, Filecoin is sampled every month, so that the rate of mining Bitcoin in each block decreases smoothly.\n\nAs you can see from the chart below, Filecoin is a smoother variant of Bitcoin's exponential decay curve. Please note that the annual sampling is used in this chart, so some of the smoothness of the Filecoin curve cannot be fully obtained.\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos\n\nPlease note that although Filecoin, Bitcoin, and Zcash all define a finite number of tokens that exist forever, Ethereum does not set a clear upper limit on the total number of tokens. This means that we can't measure the ratio of a token to Ethereum through the \"percentage of final supply\" indicator. For this reason, we decided to use the \"proportion of supply after N years\".\n\nAnnual supply growth\n\nThe growth of Filecoin's annual supply is roughly similar to that of Bitcoin, with two exceptions. First, the curve is smoother because it is sampled monthly instead of every 4 years. Second, the increase in Filecoin supply includes the amount sold during the previous sale (interstellar community: here refers to the release of futures), as well as the part distributed to Protocol Labs and the Filecoin Foundation, which means that the actual release amount in the first year will be higher. .\n\nYou can see the annual supply growth in the chart below:\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos\n\nPlease note that the supply of Ethereum after 3 years is forecast. In fact, the miner supply increased by approximately 11 million tokens in the first year and 7 million tokens in the second year. Due to the fork, this number has been declining and is rapidly approaching zero. When Ethereum changed to POS, Vitalik once stated that the annual inflation rate would be between 0.5% and 2.0%. I chose 2.0% here.\n\nFounding team ownership\n\nThe ownership of the founding team of Filecoin (considering the amount of the Protocol Lab and the Filecoin Foundation here) is better than our known ownership of the founding team of Ethereum and Zcash, and the estimated founding team of Bitcoin (Satoshi Nakamoto’s holding) Ownership is slightly higher.\n\nWhether this is a good thing or a bad thing depends on the judgment of the entire community. Someone might say that it is not good for the creation team and its associated entities to hold a large portion of the protocol tokens. On the other hand, if most of the protocol lab’s tokens are reserved for future financing rounds, this may be a very good thing for the entire system, because it will further capitalize the business and provide them with AWS Competition provides additional resources.\n\nOver time, you can see the ownership of the founding team as shown below:\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos\n\nWe can further subdivide the founding team's supply and see that 25% of this amount goes to the Filecoin Foundation and 75% goes to the Protocol Lab. This means that the Protocol Lab will supply 15% of the final total, and the Filecoin Foundation will supply 5% of the final total.\n\nToken price\n\nAs a reward, based on the data of Bitcoin, Ethereum, and Zcash, the following is an analysis of Filecoin's price and its implications for network ownership.\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash and Tezos\n\nAssuming that the price of Filecoin is US$2, of all Filecoin tokens generated in the next 20 years, purchasing 1/100 million of them will cost US$37.22.\n\nAt the same time, buying the same proportion of Zcash will cost $42.43. Similarly, to buy the same proportions of Bitcoin, Ethereum and Tezos, it would cost 684.92 US dollars, 345.31 US dollars and 3.18 US dollars, respectively.\n\nThis is a diagram that further illustrates the difference:\n\nFilecoin Economics-How does it compare to Bitcoin, Ethereum, Zcash, and Tezos\n\nin conclusion\n\nThe protocol laboratory team has learned a lot of experience from its predecessors and integrated it into the new protocol design.\n\nThe Chinese Protocol Lab adopted the exponential decay curve of Bitcoin and improved it. They created some interesting dynamics in the token sale. They are setting a new precedent with CoinList.\n\nConnection: I participated in the Filecoin consultant sales, and I am a big fan of Juan and the Protocol Lab team. The above article only contains my personal analysis and does not contain investment advice. Information about Filecoin and Protocol Labs may be inaccurate and should not be the basis for any investment decision.\n\nIf you like this article, please take a moment to recommend it. If you have more ideas about tokens, blockchain, and distributed applications, you can also follow me on Twitter.",
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      "title": "Filecoin mining VS Bitcoin mining, who is the king?",
      "body": "Fil faces more serious regulatory issues than BTC\n\nWang Xuejing: Bitcoin mining was once included in the list of obsolete industries. Compared with Bitcoin mining, will Filecoin encounter regulatory problems? Especially TON was forced to terminate. Do you think Filecoin will have the same fate?\n\nZhou Huan: Bitcoin is included in the list of eliminated industries. In fact, it is because of the input and output of Bitcoin. It belongs to a large number of energy-consuming industries, so it will be included in the list of eliminated industries for a period of time. This is understandable of.\n\nIn fact, any project will encounter risks and regulatory issues, and in fact, the regulatory issues that Filecoin encounters are more severe than that of Bitcoin, because Bitcoin has no practical use other than mining.\n\nIn other words, as long as you purchase electricity legally and purchased from the State Grid, there is no stolen electricity or leakage, and there is no safety hazard. At best, it will be guided and eliminated, not that it is banned, but Involving some projects that may violate existing legal issues, they may encounter very big challenges in terms of supervision, such as TON.\n\nFilecoin mining VS Bitcoin mining, who is the king?\n\nThere is a very big difference between the Filecoin project and the Bitcoin project, that is, the Filecoin project, which is oriented to actual landing scenarios.\n\nEveryone knows that Filecoin is a storage project. Storage projects are actually storing all kinds of data and storing valuable data. The project party has been guiding miners and the market, hoping that these machines can be used to store very valuable data. Data, rather than some rubbish data.\n\nFilecoin officially encourages everyone to store useful data in the hope that it can be implemented. The more oriented projects are, the more likely it is to touch various legal issues, because if you don’t usually use it, it There is no risk, but once it is used, then it may be very risky, to give a few examples.\n\nThe first one, since Filecoin wants to store data, after the data is stored, it will ultimately be used by others. In fact, the legality of this data itself has a big problem.\n\nThe first problem is that if some illegal data is stored and the illegal data can be used normally by users, this is almost not allowed in every country, not only in China, but also abroad.\n\nSome illegal data you store, such as some offline criminal transaction data, or some child pornographic data, or some terrorist activity data, these illegal data exist in any country and are used by users in any country Almost all are not allowed, so as long as Filecoin can store useful data, then it will definitely touch this kind of regulatory risk in this regard.\n\nSecond, once the data is valuable and the user pays for storage, for example, I spent 10,000 yuan to store my company’s data, then once the data is lost, or stolen or leaked, the same is true It will also trigger corresponding legal supervision issues.\n\nAt present, encrypting data is a way to protect data security, but there is still no way to rule out the possibility of loss or theft of high-value data that users have paid for storage. Once this happens, it will almost touch the laws of various countries now. Miners also need to bear corresponding responsibilities. Then, in addition to the responsibility of Filecoin's own member punishment mechanism, on the other hand, they must also bear corresponding legal responsibilities. .\n\nTherefore, the regulatory problems faced by Filecoin will be more serious than Bitcoin, and even more serious than TON. This aspect is also an actual potential risk that all miners need to consider. The greater the investment in the mine and the greater the amount of funds, the worse the risk tolerance in this regard may be. Bitcoin mining is not the same. After the production capacity is eliminated, it is a big deal to buy electricity from the State Grid in a more compliant way, use legal electricity to mine, no longer steal electricity and leak electricity, and even optimize the configuration of the mine to improve The environment of the mine, strengthening the management of safety, can seek a legal operation method in a certain legal space.\n\nBut Filecoin is different. Filecoin itself is not the same as Bitcoin. It cannot be digged in deep mountains and old forests. That is to say, it must be in the data center of the city, at least in the data center, as mentioned by several sharing guests just now. , Its requirements for data centers and computer rooms are actually very high.\n\nWhen a large number of machines are stacked in the machine room, once a supervision problem occurs, it is almost difficult for you to escape supervision. For example, disconnecting you from the Internet, powering off, or directly confiscating the corresponding illegal machines, these are very possible, and because the investment of the Filecoin machine itself is much larger than that of Bitcoin in all aspects, the risk in this respect is actually not Not consider.\n\n02\n\nBe sure to conduct a real test before placing an order!\n\nWang Xuejing: As an ordinary person, if you want to profit from Filecoin mining, what should you pay attention to when choosing a mining machine? In addition, are there other ways to participate in profit? Will cloud computing power Filecoin mining be an ideal way?\n\nZhou Huan: As an ordinary person who wants to participate in mining, what should I pay attention to when choosing a mining machine? I think this should be a problem that most users who want to participate in mining are more concerned about.\n\nFirst of all, since the beginning of the 18th, many mining machines have been launched on the market, and now there are more and more mining machines. From 18 to the present, the code of Filecoin has actually undergone a lot of changes. In fact, it also has a big impact.\n\nIn fact, many early machines have been proven unable to participate in this early Filecoin mining at this stage. How do you understand this sentence?\n\nIt is the current Filecoin algorithm. Its code is in mining. The requirements for the performance of the machine are actually relatively high. Therefore, it turns out that some low-configuration mining machines are actually unable to participate in the current stage of mining.\n\nThe inability to participate in the current stage of mining does not mean that you cannot participate in the next stage of mining in the future, because the Filecoin project must face the problem of landing use. The cost of the existing algorithm for data storage is actually relatively comparative. High, a considerable part of its cost is consumed on its proof, which means that its computing power is the original hard disk to store data, and it has hard disk costs and network costs.\n\nIn addition to the cost of the hard drive and the network, there is also a large amount of GPU computing power overhead. In fact, it is invisibly increasing the market competitiveness of Filecoin as a storage application itself. If Filecoin is to truly land, it must continue to reduce the difficulty of the algorithm. In other words, in the future, home machines must also be able to mine Filecoin. This is the ultimate Ideals and goals.\n\nMany users who have bought low-end machines before, actually don't have to worry too much. After some technical remedial measures and waiting for the next stage of algorithm optimization, they can still participate in Filecoin mining.\n\nFor miners who haven't bought machines yet, I don't really recommend that you buy large ones or a large number of machines to mine, because Filecoin mining and Bitcoin mining are very different.\n\nBitcoin mining buys the mining machine and puts it in the mining farm. Whether it is hosted or built by yourself, the difficulty in all aspects of its operation and maintenance management is relatively small, and it is very difficult for operation and maintenance. The requirements of the maintenance team are actually relatively low, but Filecoin mining is a very complex system. Its computer room costs, electricity bills, network fees, and the ability requirements of operation and maintenance personnel are actually very large.\n\nFor the kind that you want to buy dozens or hundreds of units, and at the same time, you don’t have an operation and maintenance team, and you don’t have the resources and experience in this area, in fact, it is best to find a mining machine company to cooperate, and the mining machine company will help you produce a complete set of To B's operation and maintenance plan, this is actually very good, otherwise, a bunch of machines will have a problem at that time, you can't actually make up for this loss yourself.\n\nFor retail customers buying machines, for example, I just buy two or a dozen machines, and I’ll try it out. In this case, if you look at it now, you can compare more. The names on the market can be called, and the brands are different. In terms of word-of-mouth, there are actually only a few. You can ask more, and then don’t worry, don’t be impulsive, there is still a period of time before the mainnet launch, you can compare more, choose more, don’t rush to download Decide.\n\nThen, you can also go and watch with some friends who know the technology around, because many mining machine companies will use some special methods, whether it is ranking or cheating, such as direct PS to generate a ranking map, This is actually more difficult for ordinary users to identify.\n\nBecause Filecoin mining itself is very complicated, many projects must be understood in detail, and friends who know the technology can help refer to them. Regarding some rankings and performances, you must know more and ask more. For example, how many machines do you use? How much did it cost? Get this ranking, what is your output per unit cost? You can even ask to see its actual operation and maintenance process data. In this case, it will be relatively safer. For investors in large-scale mining farms, this cycle must be more cautious and longer. In this process, it is also necessary to understand and compare with many parties, because now Filecoin's The heat is really very high.\n\nIn addition to the Filecoin project in the entire blockchain industry this year, there are actually no other projects worthy of your attention. Therefore, all kinds of funds and MLM coins have come to engage in Filecoin. You must be careful to distinguish and not be deceived. For very expensive companies, for companies that have clearly promised the payback cycle, for companies that have clearly promised how many coins can be produced in a day, these companies must pay more attention to such attractive publicity companies, as long as you are not greedy. It's hard to be cut, so everyone should adjust their mindset about buying, don't be blind.\n\nIn addition, are there other ways to participate in profit? In fact, there are many, because the project ecology of Filecoin will far exceed the Bitcoin ecosystem, and even surpass any existing blockchain project. In addition to mining, it can also do many other things, such as Filecoin-based application development, including the use of Filecoin to provide storage services to traditional enterprises, which are actually possible.\n\nWhen choosing a mining company, you should also look at this mining company. It is best not to simply sell mining machines. It has a relatively strong technical team. In this case, even if the future profit of Filecoin mining is not It is extremely high, or the currency price fluctuates very sharply. You can still use these machines to provide storage services for traditional enterprises. This is still a relatively good and considerable investment project.\n\nWill cloud computing power Filecoin mining be the ideal way?\n\nFirst of all, in fact, I have never agreed with the term cloud computing power. A more appropriate way should be cloud storage power. Because it doesn't just rely on computing power to mine, it needs hard drives, network, bandwidth, and electricity bills. These are all factors that have a big impact. Whether it is cloud computing power or cloud storage power, it is indeed the most ideal way for retail investors to participate in Filecoin mining, because it is the simplest and most trouble-free, and in fact, cloud computing power is a fairly standardized service.\n\nAfter the user purchases the mining machine, the mining machine is actually owned by the user. It is an asset of the user. Then the user entrusts it to the mining farm or to the accounting company. It is not always necessary to dig more and less, and this mining machine The one-time investment is also relatively large. But the cloud computing power is different. It is more flexible. You can buy it directly for one month or one year. At present, most of the cloud computing products on the market are for one year.\n\nRelatively speaking, its cost is actually much cheaper than buying the machine directly. After you buy cloud computing power, you don't need to consider electricity costs, hosting fees, network costs, operation and maintenance, etc., all other factors will be relatively simpler, don't worry, there will be much less content you need to compare and distinguish.\n\nHowever, because Filecoin has not really been launched yet, there is actually no standard for direct comparison of the cloud computing power products of various cloud computing power companies. In fact, everyone is relying on your understanding of the company, the publicity words of the company personnel, and Corresponding promotion policies are selected. After Filecoin is actually launched, how much output can be mined with the price of cloud computing power. Under the same circumstances, this actually has a relatively easy to compare standard.\n\nWhen Filecoin is actually launched, I believe that cloud computing power will truly replace mining machines and become the most important way for retail investors to participate in Filecoin mining. But for now, because there is no standard for comparison, it may be better for everyone to have a physical machine. Feel at ease, but this is only a psychological comfort, because in fact, you may not have seen the machine from start to finish. After the machine is purchased, the payment will go directly into the mine.",
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      "permlink": "does-ipfs-have-a-high-return-on-investment-what-about-the-ipfs-project",
      "title": "Does ipfs have a high return on investment? What about the ipfs project?",
      "body": "ipfs, a distributed storage protocol, is currently a very popular top-level blockchain project, which is of great significance for future storage needs and practical applications. Recently, many friends have sent private messages. I want to know whether the return on investment of ipfs is high? What about the ipfs project? Next, IPFS New Talk is here to answer everyone. V: IPFS456\nTo\nDoes ipfs have a high return on investment?\nThe ipfs mainnet was launched in October last year, and the first batch of friends who invested in the ipfs mining project have already recovered their money and started to make money. When the price of fil coins mined by ipfs mining rises, the payback cycle will definitely speed up, which is also the wish of every miner. In addition, increasing computing power and currency production will also speed up our payback cycle. Assuming that the situation is ideal, the investment payback cycle is about four months to pay back, and the rest is pure profit. After paying back, if the ipfs mining machine is okay, then it can be mined for a specified period of time. 96T and 192T can usually be mined for several years, so the profit return afterwards can be imagined. It should also be noted that the return on income is also closely linked to the investment. The current pledged gas fee is very low, and the cost of participating in ipfs mining has become lower, which will also shorten the investment payback period of ipfs mining.\n![51.png](https://cdn.steemitimages.com/DQmeFN3gY9UCeNGGhv38oPSup2BypYndSfb2e4aU2nTMVrX/51.png)\n\nWhat about the ipfs project?\nDistributed system storage is playing an increasingly critical role in the Internet era. In particular, the future of distributed system storage will grant the blockchain market industry and other traditional manufacturing industries more space and unlimited possibilities. Taking the customer as the key goal, and handing over the leadership to the customer, the customer can easily control the true identity of the data and the development of data information.\nTo\nSince the launch of the ipfs project, more and more companies and investment institutions have deployed ipfs projects at home and abroad. They have taken ipfs as a competitive advantage and invested a lot of money in product research and development. Well-known domestic and foreign institutions such as Huawei, Ali, Tencent, and Microsoft have entered the venue one after another. In addition, China's State Administration of Radio, Film and Television published the \"Notice of the Series White Paper on the Application of Blockchain Technology\" on its official website, which talked about ipfs technology. It is not difficult to see that the ipfs project has indeed gained support from all walks of life, and filecoin is the only incentive layer for ipfs, and the future investment prospects and value are also very considerable.",
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      "title": "The era of huge profits for participating in Filecoin mining has arrived!",
      "body": "Preface\n\nGenerally speaking, in addition to weighing the price and cost, investors who purchase mining machines will also consider the return cycle and specific benefits when choosing a suitable miner. The same is true for investors who have bought mining machines. The input and output are benchmarked at the same time, and the daily output needs to be known.\n![751aad5dfc95fed2de46f1c512d26e8.png](https://cdn.steemitimages.com/DQmRvgmvNtXETDd73A5kdccdY3KuKjJEQpacb9PD4fpZFLa/751aad5dfc95fed2de46f1c512d26e8.png)\n\n\nMany participants hope to obtain high profits directly by mining FIL, but the most important factor affecting profits is the number of issuances and prices. According to the mining situation and release mechanism, the amount of FIL in the hands of mining users is actually not much, and the current currency value is slightly lower than before.\n\n\n\nShort-term high prices are not conducive to the long-term development of the project\n\nLet’s first look at policy support. Big data, blockchain, etc. belong to the country’s new foundations, and these foundations are distributed storage. On the distributed storage track, IPFS/Filecoin is undoubtedly the leader and the world’s largest decentralization. Storage network. Secondly, in terms of market development, the data volume is expected to grow to 175 ZB before 2025, but 93% of the data has not yet been stored. The current central storage makes the network very fragile and at the same time destroys privacy. The storage cost is high, and it forms a bottleneck that hinders innovative data applications. Therefore, Filecoin will inevitably become the development trend of the technology of the times!\n\n\n\nPreface\n\nGenerally speaking, in addition to weighing the price and cost, investors who purchase mining machines will also consider the return cycle and specific benefits when choosing a suitable miner. The same is true for investors who have bought mining machines. The input and output are benchmarked at the same time, and the daily output needs to be known.\n\nMany participants hope to obtain high profits directly by mining FIL, but the most important factor affecting profits is the number of issuances and prices. According to the mining situation and release mechanism, the amount of FIL in the hands of mining users is actually not much, and the current currency value is slightly lower than before.\n\n\n\nShort-term high prices are not conducive to the long-term development of the project\n\nLet’s first look at policy support. Big data, blockchain, etc. belong to the country’s new foundations, and these foundations are distributed storage. On the distributed storage track, IPFS/Filecoin is undoubtedly the leader and the world’s largest decentralization. Storage network. Secondly, in terms of market development, the data volume is expected to grow to 175 ZB before 2025, but 93% of the data has not yet been stored. The current central storage makes the network very fragile and at the same time destroys privacy. The storage cost is high, and it forms a bottleneck that hinders innovative data applications. Therefore, Filecoin will inevitably become the development trend of the technology of the times!\n![51.png](https://cdn.steemitimages.com/DQmeFN3gY9UCeNGGhv38oPSup2BypYndSfb2e4aU2nTMVrX/51.png)",
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      "parent_permlink": "filecoin",
      "author": "ipfs171",
      "permlink": "2021-hottest-investment-project-ipfs",
      "title": "2021 Hottest Investment Project-IPFS",
      "body": "What is IPFS?\n\nIPFS, the Chinese name Interplanetary File System: The next generation Internet infrastructure, it is a transmission protocol based on content addressing and distributed file system. It appeared to supplement or even replace the hypertext transfer protocol (HTTP) that currently dominates the Internet. , Allowing the global file system to store and distribute point-to-point, so that more people can safely and efficiently access the WEB world. IPFS is transforming the existing Internet, trying to create a faster, safer, and open next-generation Internet. A global file storage system that is permanently available on the Internet and data can be stored permanently.\n![51.png](https://cdn.steemitimages.com/DQmeFN3gY9UCeNGGhv38oPSup2BypYndSfb2e4aU2nTMVrX/51.png)\n\n\nSources of profit from investing in IPFS:\n\nFilecoin, referred to as FIL coin, is the reward mechanism of IPFS. Miners get paid through the underlying storage and retrieval services of IPFS. As long as users use our IPFS system to store and retrieve files, they need to pay a certain fee from our underlying storage provider (FIL coin, also Called file currency), FIL currency is also the only token in the IPFS ecosystem.\n\nHow high is the return on IPFS?\n\n1 storage machine can output per T per day: 0.1 FIL coins\n\nOne can be produced in 10 days.\n\nThe effective computing power of the 336T machine is 220T, and you can get 22 FIL coins in one day.\n\n660 pieces were obtained in one month, and 7920 pieces in the whole year. In three years, 23760 FIL coins can be obtained.\n\nE.g:\n\nThe current currency price is 420 yuan/piece, and the cost price of buying a 336T machine is only 400,000 yuan!\n\n3 years = 420 x 23760 = 9.98 million income (25 times profit)\n\n(The above computing power does not include the profit brought by the increase in the currency price. The more the currency price rises, the profit margin will continue to grow exponentially)\n\nAn example of profit calculation for currency price increases is as follows:\n\nIf: the current currency price is 420 yuan, according to the calculation just now, the 3-year return is 25 times. If the currency price rises from 420 yuan to 10,000 yuan within 3 years, the return: 10000 x 23760 = 240 million ÷ 400,000 cost, 3-year return Rate = 594 times \n![751aad5dfc95fed2de46f1c512d26e8.png](https://cdn.steemitimages.com/DQmRvgmvNtXETDd73A5kdccdY3KuKjJEQpacb9PD4fpZFLa/751aad5dfc95fed2de46f1c512d26e8.png)",
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      "title": "IPFS rides the wind and waves, Filecoin opens the next trillion gold mine?",
      "body": "Recently, Filecoin officially launched the second round of the space race to continue testing and improving Filecoin before the mainnet launch.\n\nFilecoin is an incentive mechanism and public chain system based on the IPFS (InterPlanetary File System) protocol. It has attracted much attention in recent years and is now in the second stage of the testnet.\n\nIPFS transformative potential\n\n\"If successful, IPFS will become the number one killer application for blockchain to empower the real economy.\" Zhu Youping, deputy director of the China Economic Network Management Center of the National Information Center, told Lianxin.\n\nPublic information shows that IPFS is a new Internet protocol designed by Juan Benet in 2014. It defines how files are stored, retrieved, and transmitted in a distributed system, and can save and share files permanently and decentrally. The goal of the IPFS protocol is to supplement or even replace the Hypertext Media Transfer Protocol (HTTP) used in the past 20 years, to achieve distributed and permanent storage of data, and to build a faster, safer, and more free Internet era.\n\nIf blockchain technology is an upgrade of Internet technology, then IPFS is considered a subversive revolution to Internet protocols. Because the blockchain has been developed for more than 10 years, it has not solved the problem of large files and big data storage. The blockchain is only a distributed and decentralized ledger, which stores only ledger data, and cannot store large files such as pictures and videos.\n\nFilecoin is constructed based on the IPFS communication protocol. The file data stored in the Filecoin network has a unique hash value. The blockchain ledger only needs to store the hash value, not the large file and big data itself. This means that IPFS and Filecoin have given the blockchain the ability to store big data and large files. This is also the reason why distributed storage has huge application scenarios and market potential.\n\n\"IPFS is a very good protocol. It overturns the content-addressable search of HTTP and can also solve the security problems on storage.\" According to Zhu Youping, the principle of IPFS is to replace domain-based IP with content-based hash addressing. Addressing, that is, what the user is looking for is not an address but the content stored in a certain place. There is no need to verify the identity of the sender, but only the hash of the content. This can make the web page faster and more efficient. Safety.\n\n\"Many people think that centralized storage is not reliable, because our files are all stored on the same hard disk. If the hard disk is lost, broken, or attacked by someone, the file data is very dangerous. Distributed storage can solve the problem. These pain points.\" Zhu Youping said,\n\nIn contrast, a distributed storage system synchronizes data to multiple storage nodes through a replication protocol and ensures data consistency between multiple copies. When a storage node fails, the system can automatically switch services to other replicas, thereby achieving automatic fault tolerance.\n\nIt is reported that IPFS builds a peer-to-peer network architecture. If you want to attack it, you must know each node and attack one by one to achieve the goal. IPFS encrypts the data, and has higher security and storage capacity.\n\nIn addition, the centralized storage method is more susceptible to government scrutiny and blocking because the operation of its data center relies heavily on the Internet backbone network. \"Centralized networks are easy to control and are restricted by regions and policies, which are not conducive to the healthy development of the Internet. IPFS is a product that conforms to future development and is also a rigid need in people's future lives.\"\n\nZhu Youping believes that IPFS is the field most likely to be the first to achieve large-scale commercial use in current blockchain applications. If successful, it will become the first phenomenon-level application of the blockchain.\n\nAccording to the official disclosure of IPFS, there are more than 100 ecological applications based on the IPFS protocol. Any content that applications need to store, such as text, pictures, audio, video, data, etc., can be stored or recalled using the IPFS network.\n\nIPFS has a long way to go\n\n\"IPFS has great ambitions. It was born to replace the HTTP protocol of the traditional Internet. The HTTP protocol promoted the rapid development of the Internet in the past, but the increasingly prominent problems are also obvious, including but not limited to low efficiency, high cost, and data Security and privacy leakage issues, etc. Different from its IP addressing method, IPFS uses content addressing without a centralized server, which can improve efficiency at a low cost and strengthen privacy protection. With the Internet and blockchain technology With the rapid development of IPFS, IPFS will be adopted by more and more mainstream applications, which will gradually pose a challenge to HTTP.\" Li Xiangmin, founder of Chain Capital, a blockchain investment institution, said to Chain New.\n\n\"Including the concept of distributed storage, etc., it is not unique to IPFS. There has been a lot of research and practical operation. This is a future trend, but it may take considerable time to develop. To a certain extent, HTTP and IPFS may indeed There is a competition and cooperation relationship, but the existing Internet cloud service centralized distributed storage technology and commercial are gradually becoming mature, so it may not become the mainstream of the market in a short time.\" ByteLink? CEO Du Chaoxiang \"Chain New\" said.\n\nIn addition, distributed storage is not completely risk-free. \"Supervision itself is one of the biggest problems. Absolute freedom will inevitably lead to crimes. Uncontrollable technology may bring disasters. Potential risks such as information and personal safety, personal privacy, crime, etc. also exist.\" Du Chao said .\n\nLi Xiangmin believes that distributed storage is more decentralized than traditional data storage, so it is less controlled by centralized servers. Distributed storage itself has a higher degree of information freedom, but applications based on distributed storage can be added to centralized storage. The review mechanism meets the regulatory requirements of various countries, so it is difficult to have absolute freedom of information in the field of commercialization. At the same time, traditional storage has high stability, and the operation of distributed storage requires relatively high network environment and bandwidth. If the network is abnormal or unstable, it may affect the quality and user experience of distributed storage.\n\nIPFS is an open source underlying protocol. Anyone can build applications based on it. Therefore, the degree of openness is very high. Both traditional Internet giants and blockchain companies are supporting it one after another. Looking at the entire market, many Internet giants have entered the IPFS track one after another. At present, whether it is foreign Microsoft, Google, or domestic JD, Huawei, etc., all are deploying IPFS applications.\n\nDu Chao believes that whether it is distributed storage or the increase in cloud value brought about by 5G and other network transmission technologies becoming more mature, it is not the thinking and development direction that only occurred after the emergence of IPFS. Many giants have long been researching. And layout, “So I don’t think that the giants are deploying Filecoin applications. I prefer to think that the giants are understanding and borrowing related concepts and technologies.”\n\n\"In fact, the reason why giants are giants is because the information gathering in the Internet 2.0 era has formed oligarchs. This is contrary to the concept of decentralization. So in the end, I think it is impossible for giants to innovate in a decentralized way. Yes.\" Du Chao said.\n\nFilecoin turned out\n\n\"Filecoin has introduced a token economy on the basis of IPFS and built a multilateral market. In theory, it has obvious advantages over traditional distributed storage and cloud storage, such as lower fees and better privacy protection. Therefore, Filecoin mainnet After the launch, if it can meet commercial and personal data storage needs, it will inevitably pose a huge challenge to traditional storage companies, and this is what we expect from it.” Li Xiangmin said.\n\n\"Filecoin is a blockchain project on the IPFS incentive layer. With the promotion of Filecoin, it is conducive to incentivizing miners to store valid data and enter this distributed network.\" Zhu Youping said.\n\nThere have always been obvious obstacles to the development of IPFS, such as its own lack of incentive mechanism to form self-driven, high node maintenance costs, no closed loop of value flow, and services relying only on self-issued behavior. Therefore, Filecoin, as the incentive layer of IPFS, has been highly anticipated by the market since its launch.\n\nPublic information shows that Filecoin has its own consensus mechanism, miners and tokens. Miners obtain native tokens (called \"Filecoin\" or \"FIL\") by providing data storage and retrieval, users pay FIL to store and read data, storage miners obtain FIL by providing storage services, and retrieval miners obtain FIL by providing data FIL.\n\n\"The core indicator of Bitcoin mining is effective computing power; the core indicator of Filecoin is effective storage. The stronger the storage power, the more rewards miners will get.\" According to Zhu Youping, Filecoin is also mining compared to Bitcoin. , But it's different. Filecoin miners must not only provide computing power, but also provide storage. Miners get rewards based on the size of storage space. The more \"effective storage power\", that is, the greater the \"computing power\", the greater the probability of generating blocks and obtaining rewards. \"Filecoin's effective storage and mining promotes effective applications. The power of miners on the network is related to the amount of storage that miners place on the network. Therefore, there is a GPU threshold problem. A powerful GPU is required to complete the calculation within the required time limit. \"\n\nIn addition, since the Filecoin protocol has not been 100% stable and complete, the testnet is not a stable network. In fact, the Filecoin testnet has been attacked many times since its launch.\n\n\"Filecoin's cross-platform and cross-domain concept is very good, but the technology is very complex and far exceeds expectations. It is very difficult to realize it. This is also an important reason why the Filecoin mainnet has been delayed many times.\" Zhu Youping said.\n\n\"Filecoin is an important attempt for distributed storage and incentive economy. After years of technical development and improvement, it is only a test of the actual situation after the launch of the main network. It is only a test of the actual situation after the launch of the main network. Can data storage requirements be implemented and whether the business model can be successful? It is something that we need to continue to pay attention to. If it goes online successfully and gradually achieves good development, distributed data storage must be a very broad track.\" Li Xiangmin said.\n\nControversial Filecoin, the next trillion-level gold mine?\n\nAmidst doubts and praise, high valuation has become synonymous with Filecoin.\n\nOKEx Chief Strategy Officer Xu Kun stated to Lianxin that according to the rules for the release of tokens, the circulation in the first year after the mainnet launch is approximately 286 million FIL tokens, of which 153 million (more than half) will be allocated to miner. Assuming a price of 15 US dollars, the circulating market value of the tokens released one year after the Filecoin mainnet launch will reach 4.29 billion US dollars. From the current market data, it is expected to surpass BCH and rank among the top five. \"According to private equity and public offerings, in fact, before the mainnet launch, the secondary market has risen a lot. Calculated at the cost of up to $5 for public equity investors, there is already a double rate of return, while private equity investors’ income The rate is higher. So investors still have to be cautious.\"\n\nIt is reported that FIL is a token issued by Filecoin, which is used to incentivize the behavior of various roles in the storage and retrieval market in the Filecoin network. The total issuance of FIL is 2 billion, of which, miner rewards account for 70%, Protocol Labs receives 15%, public and private investors account for 10%, and the foundation reserves 5% for ecological development.\n\nIn September 2017, Filecoin launched a public offering at a price of US$5 and raised US$257 million in just 30 minutes, making it the blockchain project with the highest amount of funds raised at that time. At present, although the Filecoin mainnet has not yet been launched, as Filecoin enters the \"pre-production period\", the secondary market has become active, and dozens of exchanges have launched FIL futures.\n\n\"If the mainnet is not online, FIL does not exist.\" Zhu Youping introduced that in Filecoin, all FILs are written into the founding block, which requires decentralized release after the mainnet is opened. At present, the testnet does not send real FIL, and only FIL futures are listed on the exchange, and deposits and withdrawals are not possible. Only after the FIL is produced can there be tokens that can be redeemed.\n\n\"At present, many waist exchanges have listed FIL futures. If the future price of Filecoin is relatively high, whether these FIL6 and FIL12 can be redeemed safely by then, there is a greater risk.\" Xu Kun believes that the development of the Filecoin project may encounter uncertainties. It remains to be seen whether there can be sustained growth in real storage demand as value support.\n\n\"The Filecoin project itself has more complicated rules from the technical layer, consensus layer, and incentive layer. Especially before the mainnet is officially launched, there are still uncertainties in the details of the pledge system and execution-level algorithms.\" Xu Kun said frankly, Mining machines and cloud computing power products are mixed, and there is information asymmetry in the market, which needs to be discerned carefully. In addition, participation in mining requires a large capital investment, and mining income is affected by diversified factors such as the price of the token and the computing power of the entire network, and there is a certain degree of uncertainty. It is necessary to have a rational expectation of the investment return cycle.\n\n\"All commercial investments are in bubbles before they are realized, but strictly speaking, the problem with Fliecoin is not whether the valuation is in a bubble or not. It should be whether such valuation is in progress after many bounces. Lost the underlying logic.\" Du Chao said.\n\nTo a certain extent, Filecoin is an ecosystem integrating mining, trading, and application, and it is also a complex ecosystem of multi-party participation and multi-party gaming. Since multiple parties are involved, it is bound to be a game of interests, which will result in corresponding risks.\n\n\"The core problem of Filecoin is the two major areas of regulation and technological development. The technological development mainly refers to the centralized cloud storage pk, but also requires considerable technological innovation.\" Du Chao believes that Filecoin's value expectations for the next two years must be Look at four factors: whether the main network goes online smoothly; whether it can operate smoothly after going online, such as: loopholes and hacking attacks, etc.; whether the commercial value reaches expectations; whether the market consensus is still strong.",
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      "title": "Filecoin investment",
      "body": "Many people care about your return on investing in Fil, what is your risk, and what you need to pay attention to. There are two key mechanisms in Fil coin: one is pledge and the other is gas fee.\n![751aad5dfc95fed2de46f1c512d26e8.png](https://cdn.steemitimages.com/DQmRvgmvNtXETDd73A5kdccdY3KuKjJEQpacb9PD4fpZFLa/751aad5dfc95fed2de46f1c512d26e8.png)\n\n  What is pledge? Pledge is a pre-guarantee mechanism in IPFS, which is equivalent to a deposit to ensure the normal operation of your machine. When your machine is powered off or disconnected from the network, it will trigger the penalty mechanism for pledge.After deducting the corresponding pledge currency, the entry threshold of the IPFS project will be very high. This mechanism is to improve the safety of the machine and the quality of the miners. The period of a sector is 540 days. When a sector is packaged, the pledge expires in 540 days. The currency will be returned to your personal account, and you can continue to select the sector to continue pledge mining and you can also trade.\n  What is the gas fee? Gas means fuel in English, which is the cost of driving the machine, which is equivalent to the electricity fee. What determines the size of the gas? The gas fee depends on the size of your order and your network.The larger your order, the longer the running time of the machine will increase, and the fuel cost will also increase, and the network blockage will cause the efficiency of the machine to decrease, and the gas fee will also increase.\n  To put it simply, it is a form of taxi. A taxi to B takes one hour, and the cost of the taxi is one Fil per hour. If there is a traffic jam on the road, it takes two hours from A to B. Does it cost two Fils? It takes 10 hours from A to B, that is, 10 Fils\n  What is the rate of return on investing in Fil? At present, the currency price of Fil is stable at around 65-70 US dollars, and the cost of your entry will be very low, because compared to BTC, Fil is only a form of storage. BTC requires GPU to perform calculations.The cost of Fil will be very low and the efficiency will be higher. If you want to invest in Fil, you must have a good environment for the computer room to ensure that your pledge will not be confiscated. Generally speaking, you have a good machine and environment and are as early as possible The payback time is basically about 8 months.But with the increase in the computing power of the entire network, the benefit will be lower and lower, so the earlier you enter the market, the higher the benefit.\n  The first risk of Filecoin investment is that for a long period of time, Filecoin has been under great selling pressure. At present, there are many trading pairs in the Filecoin market, one is the mainnet coin FIL and the other is FIL6. , FIL12 and FIL36, the difference between the futures tokens is that the mainnet tokens are real tokens that can be withdrawn normally, The rest are the IOU tokens that need to be gradually unlocked. From the market price, the price of the mainnet token is 2-3 times that of IOU tokens. The price of IOU tokens for 6 months is about 2 times the price of tokens for 36 months. Times.\n  Another point about the risk of Filecoin investment is the uncertainty of its application. Although many investors have described many scenarios where decentralized storage replaces centralized storage, in reality, it is assumed that users need to pay for data storage. The cost of FIL is higher than the cost of traditional centralized storage, which will inhibit their need to store data.Therefore, many people have proposed that Filecoin storage is prepared for high-value data. However, there is great uncertainty about which data is high-value data and who will choose Filecoin storage. The development of applications is undoubtedly a big problem.\n  The third point about the uncertainty of Filecoin investment is the uncertainty in the agreement laboratory of the project party. The main network has been delayed again and again, but secondly, like yesterday, the team suddenly released 1.5 million FIL tokens, and The so-called \"stabilizing market price\" approach is really disgusting.\n  The last point of risk is the risk of hype that blockchain projects generally face. The air stage of star public chain projects such as eos and Polkadot before the mainnet launch is the hottest stage of market hype, and after the mainnet launch , The bubble will gradually burst. As for whether it can return to the upward trend in the later period, it depends on the market's recognition of the project.\n![51.png](https://cdn.steemitimages.com/DQmeFN3gY9UCeNGGhv38oPSup2BypYndSfb2e4aU2nTMVrX/51.png)",
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      "title": "The difference between filecoin and Bitcoin",
      "body": "Filecoin compares with Bitcoin. What is the difference? Bitcoin is the first digital currency in the blockchain, while Filecoin is the first digital currency to store blocks and Filecoin is an incentive for people to upload valid data and a decentralized currency in the true sense. . There are several differences.\n![27.jpg](https://cdn.steemitimages.com/DQmRAjhCvfouQ8Y2zD325gRzk8uDTp6P1sp8areLNmQSdPj/27.jpg)\n\n  1. Filecoin and Bitcoin have different mining principles\n\n  Bitcoin uses the PoW consensus mechanism; and Filecoin uses the PoSt consensus mechanism. The amount of coins earned by Bitcoin depends on the effective work contributed by mining. In other words, the better the computer performance and the stronger the computing power, the more opportunities for mining.This is to perform the distribution of money based on the proof of work.Mining under this principle is a process in which the computer continuously searches for the Nonce value and calculates the Hash value through an exhaustive method. Whoever calculates it first will succeed in mining. The simple understanding is that the higher the computing power and the longer the mining time, the more BTC will be obtained.\n  In the Filecoin system, if the miner completes the storage, and the user confirms that the miner completes the storage, the mining is considered successful. PoSt is generated when Filecoin verifies that miners store user data.Filecoin converts the current storage ratio of miners in the network relative to the storage ratio of the entire network into miners' voting rights, where the possibility of the network choosing a miner to create a new block is directly proportional to the storage they are using and the cost of the rest of the network.\n  Under the PoSt mechanism, miners invest in storage instead of computing power to parallelize mining calculations. Miners provide storage and reuse calculations to prove that data is stored to participate in consensus. Use Proof of Storage (PoSt) to generate consensus.\n\nSimply put, mining based on the PoSt mechanism is a mining that invests a large amount of storage space (hard disk) and bandwidth resources.\n  2. The essence of Filecoin and Bitcoin is also different\n\n  Bitcoin is a digital currency; Filecoin is a storage network project and a reward \"rule\". It has its own token, FIL, with a total of 2 billion. Its biggest role is to encourage the active participation of storage and retrieval miners through FIL.Stimulate the vigorous development of the entire market. In other words, Filecoin not only provides coins, but also provides attractive \"rules\" that allow us to benefit together in the storage market.\n![22.jpg](https://cdn.steemitimages.com/DQmTUSrwJqFHm7Y8gFFv9NdmLFZ5wUbWdeHZrgEnmNA8RjV/22.jpg)\n\n  3. The future prospects of Filecoin and Bitcoin are also different\n\n  Bitcoin mainly relies on the blockchain to reflect its own rarity. Its value characteristics are comparable to gold, and it has currency attributes and can be used to purchase commodities.On the one hand, Filecoin can solve the shortcomings of current centralized storage and can be used for data storage in various industries. It has a wide range of application prospects; on the other hand, IPFS will be benchmarked against HTTP, which will subvert Web2.0 in the future and move towards Web3.0. Life is more efficient and convenient.\n  4. Filecoin and Bitcoin mining use different mining machines\n\n  Bitcoin mining has evolved from personal computer mining, graphics card mining, and home mining with personal mining machines to the current clustered and specialized large-scale mining.Regardless of the initial CPU mining, GPU mining, or later FPGA mining, ASIC mining, large-scale cluster mining, the essence is to concentrate on improving the data computing power of mining equipment mining.\n  Filecoin mining is mainly used for data storage and does not require too high computing power, that is, the performance of the CPU is not required to be too high, and the memory capacity is suitable, but a large storage space is required.In other words, the density of hard disks per unit space should be large, as many hard disks as possible should be equipped, and the I/O performance of data storage should be high, and the bandwidth channels should be as high as possible. Because of the special requirements of data storage, the entire mining machine must be stable, safe and not easily damaged.\n  5. The mining farms for Filecoin and Bitcoin mining are also different\n\n  Bitcoin mines consume a lot of electricity resources, and places that can provide low-cost electricity are the first choice, such as Inner Mongolia, Xinjiang, Yunnan, Sichuan, and Guizhou.The internal requirements of the mine are relatively simple. As long as the ventilation and heat dissipation effect is good, the racks for the mining machines do not need too professional equipment, and there are no special requirements for the floor and ceiling of the mine. Mines do not require a high degree of dispersion, so such mines are relatively concentrated.\n  The Filecoin mining machine does not consume much energy, and the supply of electric energy is not demanding. Because there is a large amount of data I/O, the network bandwidth requirement is as high as possible.Because of the particularity of data storage, mining farms must be constructed in accordance with the requirements of data centers or quasi-data centers, requiring constant temperature and humidity to prevent static electricity, and the equipment for installing mining machines must also be dedicated to professional servers, and cannot be disconnected from the network. IDC data room in large cities is the first choice for large mines. Because of the particularity of the IPFS system, the more dispersed the mine, the better.\n![51.png](https://cdn.steemitimages.com/DQmeFN3gY9UCeNGGhv38oPSup2BypYndSfb2e4aU2nTMVrX/51.png)",
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      "body": "Hello welcome to Steemit world! \n I'm @steem.history, who is steem witness. \n This is a recommended post for you.[Newcomers Guide](https://steemitdev.com/guide/@steemitblog/steemit-a-guide-for-newcomers) and [The Complete Steemit Etiquette Guide (Revision 2.0)](https://steemit.com/steem/@steem.history/the-complete-steemit-etiquette-guide-revision-20-homage-1598425779) and, recommended community [Newcomers Community](https://steemit.com/trending/hive-172186) \n I wish you luck to your steemit activities.<center> \n \n \n https://cdn.steemitimages.com/DQmXHwdcNs5VPcBft1iSosPdHLpBNBfjuG84g3ffWhMw5JQ/image.png \n <sub>(The bots avatar has been created using https://robohash.org/)</sub> \n @steem.history \n \n ### My witness activity \n - [My aspiration for STEEM witness](https://steemit.com/hive-185836/@steem.history/my-aspiration-for-steem-witness-1601280729) \n - Provides information on Steem.  \n [Reference](https://steemit.com/trending/hive-130095) \n - Supporting the Steem project. \n [SPUD4STEEM project](https://steemit.com/trending/spud4steem) \n - Supporting the community. \n [Newcomers Community](https://steemit.com/trending/hive-172186),[Steem Sri Lanka](https://steemit.com/trending/hive-133716) ,[WORLD OF XPILAR](https://steemit.com/trending/hive-185836), [GLOBAL STEEM](https://steemit.com/trending/hive-145160), [Scouts](https://steemit.com/trending/hive-181136), [Latino Community](https://steemit.com/trending/hive-188619) \n \n ### My featured posts \n - [The Complete Steemit Etiquette Guide (Revision 2.0) -Homage](https://steemit.com/steem/@steem.history/the-complete-steemit-etiquette-guide-revision-20-homage-1598425779) \n \n [![image.png](https://cdn.steemitimages.com/DQmd7of2TpLGqvckkrReWahnkxMWH6eMg5upXesfsujDCnW/image.png)](https://steemlogin.com/sign/account-witness-vote?witness=steem.history&amp;approve=1) \n <sub>please click it!</sub> \n \n ![image.png](https://cdn.steemitimages.com/DQmWDnFh7Kcgj2gdPc5RgG9Cezc4Bapq8sQQJvrkxR8rx5z/image.png) \n <sub>(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)</sub> \n \n </center>",
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      "title": "Step into the IPFS world",
      "body": "What is IPFS, what ipFS brings, and what should you know before you start what is HTTP, a centralized database cluster,What is IPFS? IPFS interstellar file is simply distributed database storage. What are the advantages of IPFS and the former,If you keep all of your bills in a single account book are all of your bills invalid if that account book is lost or damaged,What is IPFS? If you keep the bills in several ledger books and these ledger books back up to each other, it is not easy to lose. If you lose one other ledger book, you can also make up the data.\n  Have you heard of Filecoin, have you heard of this project in IPFS, Filecoin is a layer in THE IPFS system which is the incentive layer in IPFS,When a user uploads valid data in a sector and completes the encapsulation, he will be rewarded with Fil coins. The future value of Fil coin is infinite.\n  The first is that IPFS is a globally distributed, peer-to-peer version of a file system that, like HTTP, is an underlying protocol of the Internet. Currently, with the explosive development of big data,With the evolution of Internet technology into the Era of Web3.0, the disadvantages of HTTP, the traditional Internet hypertext data transmission protocol, are increasingly prominent, and IPFS technology is expected to replace HTTP in the future.\n  Secondly, IPFS technology has five advantages compared with HTTP protocol: low cost, high efficiency, security, privacy and permanence.\n  Third, IPFS is a transport protocol, not a blockchain project, and does not use any blockchain technology. But with the spirit of blockchain decentralization.So IPFS have no Token, no coin, no mining; Filecoin is the Token. It's Filecoin. Filecoin is a natural token built into the IPFS system. It uses blockchain technology to encourage users to store data in THE IPFS system, creating a new decentralized network based on the underlying IPFS protocol.\n  Fil's value, IPFS in the future impact is huge, IPFS miners want to get Filecoin, need to work together in three roles to find Filecoin\n  Miner, Worker and Storage.\n  Each of these roles performs three different tasks: receiving orders, processing and storing data, and storing data and submitting \"proof\" that the data is stored.This collaboration is the only way to help customers with storage needs actually do their data storage work and earn Filecoin.\n  While bitcoin mining is a simple bookkeeping, IPFS mining requires three heads working together to get the stored rewards. These three roles can be completed by one machine or by multiple mining machines. When a single machine performs multiple tasks, the storage efficiency can't match that of a team of miners\n    My Gmail：   [email protected]",
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