The mining history of a small miner (Part 2)

Introduction: Continuing from the previous article, we will talk about mining.

7.

When it was 94, I not only felt panic for the first time, but also despair for the first time. I thought that the coins in my hands would return to zero. At that time, I really thought that they would return to zero. What should I do with the mining machine? I thought that the mining accident would really happen, but it didn't happen. The price of graphics cards was still high, but the momentum of the sharp increase in ETH computing power finally began to decline, and the daily output gradually became stable. At that time, the output of each mining machine was not very high, and it took about 1 month to mine one ETH.

I didn’t give up after the 94 coin price went cold. It was probably after all the domestic exchanges were closed that I slowly started to stay away from cryptocurrency trading, which was around October 2017. At that time, I didn’t check the market for almost ten days or half a month, and I didn’t care about the news in the cryptocurrency circle. I thought the cryptocurrency circle was almost dead. Although I didn’t sell any coins, I really gave up at that time. Those two months became one of the few periods when I didn’t pay attention to the cryptocurrency circle so far. Although now, whether it is the decline, the length of time or the degree of coldness, it is far more tragic than that time, but now I just can’t let it go, and I don’t know why.

Although the market was unpopular at that time, it had not fallen below the shutdown price, so the mining machine had been running all the time. It was also at this time that I realized for the first time that mining machines were more "stable" than cryptocurrency speculation. The risks were similar to those of spot and futures. Coin speculation involves explosive damage, while mining involves continuous output . As long as the price does not fall below the shutdown price, there is still room for fun . Moreover, from a historical perspective, the fate of POW currencies is not too bad, at least much better than more than 90% of altcoins.

8.

I still miss that feeling of despair, because my despair breeds the hope of others .

1994 became the starting point of the first bull market in history. The leader this time was not ETH or altcoins, but Bitcoin. What is an international star? Bitcoin is it.

Starting from 1994, or to be more precise, September 15, because that was the day when domestic exchanges closed or were determined to close, Bitcoin had the most handsome retrograde. By mid-November, the big brother was tired and stopped to rest, and the second brother ETH dared to jump out. Within two days, the rested Bitcoin marched towards the historical high of 20,000 US dollars. In one month, it rose from 4,000 US dollars to 20,000 US dollars.

I didn’t pay attention to the rise of Bitcoin from 20,000 to 30,000 because I was disappointed. I didn’t pay attention to the rise of Bitcoin from 30,000 to 50,000 because I was skeptical. I even felt the excitement of people on a roller coaster, watching the K-line of Bitcoin from 60,000 to 70,000, 80,000, 90,000, 100,000, 111213. At that stage, the altcoins were very timid and only dared to watch the performance of the big brother, not daring to keep up. Moreover, during that period, most of the altcoins were falling even when denominated in legal currency. There was a feeling that thousands of people were surrendering to Bitcoin, and the altcoin K-line knelt down every day to show respect to the big brother . It can be called blood sucking, or it can be called gathering "vitality bombs".

When Bitcoin was about to reach its peak, altcoins finally couldn't sit still. The first to bear the brunt was TRX. Five times in one month? Rubbish, I, Justin Sun, will show you what a hundred times in one month means. So TRX rose from 1 cent to 1 yuan in less than a month . Can a coin like TRX rise a hundred times? Other altcoins expressed dissatisfaction. With the help of IC0, ETH/NEO/QTUM broke through 10,000 RMB, NEO broke through 1,000 RMB, and QTUM broke through 500 RMB. Oh, by the way, there is also BCC worth nearly 30,000 RMB and EOS worth more than 100 RMB (still in the crowdfunding period).

9.

As expected, I still prefer the experience of being a leek, so I will go back to mining.

The crazy rise of Bitcoin has of course led to an increase in the price of mining machines. Since I don’t mine Bitcoin, I don’t know much about the prices of Bitcoin mining machines. However, you couldn’t buy Antminer in stock at that time unless you paid more money. I remember that an Antminer S9 was priced at around 25,000 yuan in stock, and the current price is 500 yuan.

At that time, the demand for ETH was very high, so the price of ETH was very high. More and more people were mining ETH, and the total computing power began to grow rapidly again, from one coin mined every week at the beginning to one coin mined every month, and then to one coin mined every three months. At this time, the graphics card mining machine was no longer assembled by yourself. There appeared specially customized mining systems and packaged graphics card mining machines. NVIDIA also launched the professional mining card P106 (without display function).

This article ends here. The next article will talk about the mining experience of ipfs, btm, mgd and a bunch of small coins.

Author: longbtc
Link: https://www.jianshu.com/p/63a8f987fc1d
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