A Little Miner's Mining History (Part 2)

Introduction: Continuing from the previous article, this is a story about mining.

4.

Because ZEC was the first coin I came into contact with, and ZEC exploded before ETH, I always thought ZEC was more powerful, and it should be like BTC>ZEC>ETH, so I kept mining ZEC at the beginning. At that time, Lao Mao called BTC/ETH/ZEC the three horses . ZEC is an anonymous coin made by a group of math geeks. It is the first coin to use zero-knowledge proof. At the beginning of its launch, it even reached a price of hundreds of thousands. In short, it is very powerful, so I just mined it.

I started mining in Spark Mining Pool. When the mining machine started working, it was not very stable and was mining intermittently. I mined about 1 zec, and then I found that everyone in the miner group was mining eth. Zec was still a niche. After comparison, I found that mining eth was indeed more profitable, so I switched to mining eth. In the process of mining ETH, I found that I could do dual mining, that is, mining two currencies at the same time. When mining eth, I could mine SC or DCR at the same time. I saw that Yunbi had SC trading pairs, so I chose to dual mine eth and sc. SC is called Yunchu Coin in Chinese. It is also a popular coin in Yunbi. Lao Mao and Li Xiaolai are very optimistic about it. Li Xiaolai also gave the SC team millions of funds for its development. In order to mine, I downloaded the SC wallet and synchronized the data for several days. Although it is for storage, I have never stored anything on it, and it feels difficult to use, but it does not affect SC from becoming a 100x coin .

I'll finish writing SC first. The total computing power of SC increased very quickly. At the beginning, one machine could mine hundreds of coins a day (SC was very cheap). Later, it mined less and less, and finally it could only mine a few coins a day, so I gave up. The SC team later seemed to have launched its own mining machine, but it was not as good as Bitmain's mining machine for other coins. It seemed that there was a fork, but I didn't pay attention to SC at that time, so I don't remember it clearly.

5.

After the mining machine is running, it is not as troublesome as the initial start. However, what is annoying is the inexplicable problems of the mining machine. It often runs out of computing power while mining. I have reinstalled the system many times and tried various methods, but it is still not very stable. When it is good, I can leave it alone for a week or half a month, and when it is bad, I have to deal with it once every one or two days. However, most of the time, I just need to restart the machine.

After experiencing the surge in ZEC and ETH, I seemed to see the road to wealth freedom through mining. A mining machine costs 13,000 yuan, and 10 mining machines cost 130,000 yuan. It would take at most two or three months to get back the investment, so I thought about expanding the scale, and even wanted to pull my relatives and friends to get 20 or 30 mining machines. At this time, I had been trapped in fantasy all day long with the bull market, and felt that I had found a way to get rich, and wealth freedom was just around the corner. Looking back now, the state at that time was actually very terrible. At that time, I had lost myself in the carnival of Yunbi 100 times , and I didn’t know what the risk was. I only knew how much this coin had risen today, and that coin hadn’t risen yet, and it was estimated that it was about to explode. In that state, I made a wrong decision that I will never forget in my life. I bought 1ST (first blood) on the top of the mountain with the money my parents asked me to buy Bitcoin. Now this coin has fallen by 99% and is still lying in my wallet. Thinking about it now makes me feel heartbroken. I believe that the old people in the currency circle have similar blood and tears history. Newcomers who have not experienced the bull market may not understand or even laugh at it, but I still hope that they will never be like me.

Back to mining, I ultimately did not choose to expand the scale of mining, not because I was sober. In that kind of atmosphere, no normal person would stay sober .

Thinking about it now, the main reason for not choosing to add more mining machines at that time was that there was no suitable place. Mining makes a lot of noise, so it is best to find a relatively remote place, but not too remote, because mining machines are prone to problems and need frequent maintenance. Mining is also very energy-consuming. Energy-consuming does not mean that the electricity bill is too expensive. I guess small and medium-sized miners in the bull market don’t think the electricity bill is expensive, but they think the power is too high. One machine is 1000W, and 10 machines are 10,000 watts. It would be bad if there is a problem if you can’t find a suitable place. The cost of a single mining machine can be calculated in less detail. Once there are more mining machines, all kinds of costs need to be taken into account, such as electricity bills, rent, loss, maintenance, and large investments. You also have to consider whether to sell it after mining or hoard it first, and whether to recover the investment first or continue to pay.

In addition to the venue, another reason is that I found that I could make more money by speculating in cryptocurrencies, so why should I mine? And I can make money faster. If I had used the money from the mining machine to buy ZEC directly, it would have tripled now. So I took the money to speculate in cryptocurrencies. You see how terrible the bull market is. My ideas in the bull market now look so naive. Now I want to scold myself for being crazy. As Mr. Li said, leeks always fantasize about buying at this low point and selling at that high point.

Now it seems that it would not have been a bad thing to continue adding mining machines at that time. First, ETH later rose to 10,000, and second, one thing that mining machines are better than altcoins is that they have actual value. Now if the mining machines are dismantled and sold with graphics cards, some money can still be made.

6.

I accidentally went back to the experience of being a leek, and continued to talk about mining.

After I became addicted to cryptocurrency trading, I didn’t care much about the mining machines. I was really crazy about Yunbi at that time. Every day I was watching which coin would be listed on Yunbi and looking for gossip everywhere. Then came the advent of icoinfo and the first crowdfunding of eos. Basically, I forgot about the mining machines. icoinfo is a crowdfunding platform of Li Xiaolai. It seems to be created by Zheng Yiting XDite. At that time, he was not a "completely untrustworthy person". icoinfo was called a one-stop leek harvester by a great god. What hunger marketing, what crowdfunding today and opening tomorrow, what whitelist, it is much higher than the current Binance.

As a result, it reached 94. All coins were halved again and again in one day. ZEC fell back to 600, and BCC fell to 300. That was the first time I felt what panic was. BTS and SC, which were hundreds of times higher, also fell back to the cent era.

I am back to the original starting point, standing blankly in front of the waterfall, still unable to believe my eyes, scratching my hair into a doghouse shape, peeking at the screen and seeing the price is cool, when I see you later it will definitely be lower than before.

This is the end of this article. The next article will continue to talk about the mining experience after 1994.

Author: longbtc
Link: https://www.jianshu.com/p/37d46eaaf434
Source: Jianshu The copyright of Jianshu belongs to the author. For any form of reprint, please contact the author for authorization and indicate the source.