How to mine IPFS/filecoin? How long does it take to get your money back?

First, let's review the history of mining. The mining of virtual currency has roughly gone through five eras: CPU mining → GPU mining → FPGA mining → ASIC mining → large-scale cluster mining. Since the beginning of the mining industry, the degree of professional differentiation has become more and more refined. We can roughly divide it into two types: mainstream currency miners and non-mainstream currency miners. Mainstream currencies mainly refer to BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), etc. Non-mainstream currencies cover a wider range, among which the industry deployment is relatively mature. The currencies currently mined include IPFS filecoin (Interstellar File System), etc. So how is ipfs filecoin mined?

1. What is mining?

Simply put, after purchasing or assembling a mining machine (computer), connect to a designated mining pool, and start full-load computing according to a specific algorithm. After completing a computing cycle, you can get "one" virtual currency. Then you can put "this" virtual currency on an online trading platform for trading and cashing out. This whole process is called mining.

2. How to mine

Filecoin mining is mainly a process of obtaining FIL coins by contributing your own storage space. Filecoin mining machine is a high-performance enterprise-level server, including GPU, CPU, etc., as well as computing servers, storage servers and node servers. However, the technical requirements for filecoin mining are still relatively high. The mining machine needs to be hosted in the corresponding national-level IDC computer room, and it needs to operate under 24-hour power, network, dust-free, constant humidity and temperature conditions. There are many cabinets in the IDC computer room, and many servers are stored in the cabinets. Each server performs its duties and works together to produce computing power. The greater the effective computing power, the more FIL coins are produced.

Some friends may ask, can I mine filecoin at home? It is not recommended to mine at home, because filecoin mining technology is difficult and it is difficult to mine it by individuals. It is recommended to choose a large professional head miner with a professional independent operation and maintenance team and operation and maintenance technology, as well as an automated system.

3. If I set up an ipfs distributed storage server now, how long will it take to get my money back?

Take the ** Alliance mining machine as an example. The price of a 96T mining machine is 102,000 yuan, and the hosting fee is 12,000 yuan/year. The 96T mining machine can convert effective computing power to about 64T. Now a single T needs to be pledged 9 coins, and the 96T mining machine requires 576 pledged coins (refundable upon expiration, not included in the cost). A single TGAS consumes an average of 4 coins, and the required GAS is 256 coins (for mining machine consumption).

96T complete machine sealing completed effective computing power 64T

According to the current single T pledge amount of 9.501, the required pledge coins are: 608.064 (returned after not participating in mining)

According to the current single TB Gas fee of 3.05, the Gas consumption is: 3.05*64*0.5=97.6 (packaging consumption, using the 64G sector solution, the Gas fee is reduced by about 50%)

96T machine first year investment: 102000+12000=114000

The currency price is calculated based on 1100.

Total Gas Fee: 97.6*1100=107360

Full pledge: 608.064*1100=668870.4

Actual cost: 107360+668870.4=776230.4

Fully provide pledged coins and total Gas cost:

114000+107360+668870.4=890230.4

Effective computing cost per terabyte: 2132

If full pledge and full gas are provided, the sealing can be completed in about a month, and about 300 coins can be produced after sealing. The coin production in the first year = (300+64*0.08*11*30*0.8)*1100=1816848 yuan, and the investment can be recovered in less than 6 months.

If the above calculations are wrong, please correct me!