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Storage Mining Investment 2021: What is storage mining?

Storage Mining Investment 2021: What is storage mining?

In the currency circle, mining is a general term. It is often heard that you need to buy many graphics cards to mine, which will lead to a shortage of graphics cards. For those gamers, people in the currency circle hate it.

But there is no way. The graphics card is productive. It is money. It is Bitcoin. Why does mining need so many graphics cards? Take Bitcoin as an example.

The bottom layer of Bitcoin is a blockchain. When each block is born, some bitcoins will be produced, and these bitcoins will be given to the person who generated the block. The so-called mining is to compete for the right to create this block.

Before generating the block, the Bitcoin nodes of the entire network will work together to solve a problem. This is a math problem. There is no other way to solve this problem. You can only keep trying the answer until the correct answer appears.

Now the problem is straightforward. It is faster than who can calculate, that is, who is more powerful. The CPU is far inferior to GPU (graphics card) for this type of calculation, so everyone buys a graphics card.

Even if your computing power is extreme, it does not mean that you can get all the coins because the strength of the computing power only indicates the probability that you can find the answer. So there is no absolute computing power. Only your computing power accounts for the proportion of the entire computing power.

The mining that everyone knows before is the one mentioned above.

But recently, there is a currency that has been on fire, the Chia coin. The goal of this coin is to improve the global financial and payment systems. But this is not the most peculiar part of this project. This coin also needs to be mined, but it is not mined through graphics cards and through hard disk mining, which uses disk space to run proof of space.

To put it simply, the larger the disk you have, the greater the probability of you digging into the mine. Compared with the blockchain, this mining method consumes less energy, and ordinary users can also participate, and the degree of decentralization is higher. This is also the point where it used diss Bitcoin. Although Bitcoin is now claimed to be decentralized, the main computing power is concentrated in some major mining farms. This will make Bitcoin's decentralization increasingly unreliable.

This kind of mining method of Chia Coin allows ordinary people to participate so that the more people will participate, the higher the degree of decentralization will be.

But mining with hard disks is not without its shortcomings. This method of mining reads and writes on hard disks repeatedly, and the loss of hard disks is definitely greater. There is even worse news. The recent supply of hard disks is also a bit insufficient.

HDD Mining, also known as "Storage Mining," is the process of obtaining encrypted currency based on hard disk storage.

storage mining.png

What are the requirements for mining through hard drives?

Hard disk: The hard disk is one of the most important conditions for mining such tokens. The hard disk and the number of tokens you produce are completely proportional, so the size and amount of the hard disk determine the output value of your mining.

There are many brands of hard disks that are not bad now. From the perspective of hard disk mining, if you are a big player, you need to stock up on hard disks like the previous batch of graphics card people. Of course, if you are not very optimistic about the current distributed storage on the blockchain, there is no need to stock up, but the price is high.

Bandwidth: The current broadband leased line prices are very high, but it does not rule out that someone who has the resources can get a very cheap leased line. This is an advantage. However, some places where the leased line is cheap to depend on whether it meets the requirements of a large population base and high frequency of use, preferably in a commercial area rather than a residential area, because this will also affect the mining revenue. So, if you are in a first-tier city, close to the backbone network, and can get discounted special lines, then you can boldly choose hard disk mining.

Broadband dedicated lines mainly require uplink speed. If you use home 100M fiber-optic broadband, you can mine, just like you can mine with your home computer, but the output is not high because your storage time will be the same as yours. The income is proportional.

Mining address: Because hard disk mining is best built in a place with high network usage frequency, large population flow, and close to the backbone network and commercial center, the price of the site of this kind of address must be very high. But if the mine site is not built in such a place, the mining revenue will be less, so this is a contradiction. According to your resources, the two evils are the lesser of the two.

If you don't understand why the selection standard of the mine address for hard disk mining Jiangxi is, you can take Didi Taxi as an example for comparison. Imagine yourself as a Didi driver, then you are a minor, your car is mine, and the passenger's taxi fare is a token reward. Now you are ready to take the order. So, where do you go to take the order? Will it be easier to receive the order from the passenger Didi taxi?

The result is obvious. The Didi heat map based on the big data statistics of Didi passenger orders makes us clear at a glance. The hottest place is the commercial center with the largest flow of people. This coincides with the principle of the reward mechanism of hard disk mining.

The digital currency that uses hard disk mining is related to distributed storage. These tokens are eager to mine by miners, and this kind of project is very dependent on the participation of miners. Therefore, this must be a win-win situation. Just as passengers want to take a taxi at a more favorable price, the driver wants to attract more passengers. So, let's discuss "how can we get more passengers."

How to excavate hard disk mining, how to excavate

Through the above explanation, we have learned that as long as there is a computer, mining software is installed, there is a large enough hard disk with enough space, there are bandwidth resources with superior upload and download speeds, plus a well-located mine Field address, you can start your hard drive mining journey.

Of course, if your hard disk, bandwidth, venue, and other resources are not very advantageous, it does not mean that you cannot participate in hard disk mining, but the income will be lower for the first time. At the same time, you can also invest a little less first and then increase the investment after you have determined that the benefits are still more cost-effective.

So, old Didi driver, come on, let us start the pick-up journey!

How to dig more?

The storage space of the hard disk is equivalent to your computing power. Increasing the storage space of your single hard disk will increase your mining revenue; simultaneously, increasing the number of your hard disks is also a way to increase the storage space of your hard disks, which will also help you increase your mining revenue.

Increasing your bandwidth and increasing the upload and download speed of your bandwidth is to increase the speed of your "Grab Didi Orders." Whoever can grab the order placed by the same passenger first will get the rewards. The faster the upstream and downstream speeds of the dedicated line bandwidth can minimize network delay, maximize bandwidth utilization, and maximize your mining revenue.

It is best to build mines in first-tier cities close to the backbone network's business center. The closer you are to the backbone network, the faster your mining machine can grab the tokens rewarded by the system, and the more you can increase mining revenue. This is like the Didi backend system after a passenger takes a taxi to place an order, and the Didi driver closest to the passenger will pick up the order.

Eight major network node cities in my country:

Beijing, Shanghai, Nanjing, Guangzhou, Chengdu, Shenyang, Wuhan, Xi'an.

Concluding remarks

If you pay more attention to the key points of the computer, hard disk, broadband, and mining farm, you can make money from the idle hard disk of your computer or buy a professional hard disk mining machine. Finally, I wish you all the best in hard disk mining. Make more money.

At the moment, in a pandemic situation, the storage and accumulation of cryptographic funds are almost one of the most effective ways to increase assets. But why Filecoin? Filecoin is a blockchain that helps to store decentralized data. One of the main advantages of Filecoin is data storage, which will allow anyone in the world to purchase the necessary storage on the network. In Filecoin, users pay for storing their files on the storage miners.

OXBTC Storage Mining Service

Storage mining is a kind of mining for earning tokens by storing data for clients on distributed storage platforms, e.g. Filecoin and Swarm. Storage mining has become quite popular among investors after Bitcoin and Ethereum as the distributed storage networks, typically Filecoin, gradually come of age and there are growing needs for decentralized storage.

The OXBTC team bets on the investment potential of storage mining. As one of the earliest platforms in the world that offer storage mining investment services, OXBTC currently renders the Filecoin (FIL) mining investment service and is going to introduce the Swarm (BZZ) mining service.

There are three promotional events for Filecoin Storage Mining

What can say about the OXBTC Mining Platform?

The OXBTC mining service platform has a strategic layout of independent research and development and is committed to providing users with solutions from mining to management in the whole cycle. The company has a senior management team from the old mining circle, financial leasing, banking, private equity, and other industries, with rich investment experience, and is committed to selecting the most cost-effective, high-output, low-power mining machine for customers on the market.

If you are interested in storage mining investment or mining, you can find more on sales cloud miners from oxbtc.com or download OXBTC APP from Google play.