Is the popularity of mobile phone mining a new way of playing or a new trick by the dealers?

In the past two years, the rapid development of blockchain technology represented by Bitcoin and smart contract platform Ethereum has made cryptocurrency a new way of investment. Various myths of getting rich overnight have been staged, stimulating people's blind obedience. Data shows that there are as many as 2,000 types of cryptocurrencies available for trading, and the number is still increasing at a rate of dozens per month. However, due to the difficulty of supervision and psychological impetuousness, the cryptocurrency field is also full of chaos.

For example, many projects do not have a development team, initial products, complete blockchain application solutions, etc., and they simply fabricate white papers to complete fundraising and online transactions - that is, "air coins", causing many ordinary investors to lose money. Now, there is another investment method that looks extremely convenient but actually hides various risks - mining with mobile phones. There is no doubt that mobile phones are convenient, but are they really reliable for mining activities that require high computing power?

Hot! Mobile mining becomes a new way to play

For many people, investing in cryptocurrency requires a certain amount of capital. But mining is, in a sense, very simple. As long as you have a host with a high-end graphics card and CPU, you can always mine various cryptocurrencies - whether you make money or not is another matter. Mining has driven the development of many industries, such as graphics card companies making a lot of money. However, graphics cards that cost thousands of yuan, plus high electricity bills, are still a considerable expense for ordinary people. It is in this context that mobile mining came into being.

Specifically, mobile mining generally refers to the mobile version of some mining platform apps. Because this mining method is "zero investment" - everyone has a mobile phone, it quickly became popular and became a hot mining method. At first glance, mobile mining seems to be a new way of playing. The explanation given by the "dealer" is that the performance of mobile phones is getting higher and higher. For example, Qualcomm's Snapdragon 835 processor is installed in notebooks. Therefore, mobile mining seems to have potential.

Let’s not discuss whether the CPU and GPU of mobile phones are far superior to computer hardware. The fact that mobile phones can mine anytime and anywhere is attractive enough. If mobile phones can really mine, it seems good.

Routine! Mobile mining is full of risks

If you think that mobile phone mining is a new way for the "dealer", then congratulations - you have been successfully "tricked"! The reason why mobile phone mining is a new routine is that there are many risks involved. The simplest one is that based on the computing power of mobile phones, a single mobile phone may not be able to mine a valuable cryptocurrency for a long time, and can only waste power.

In addition, many mobile mining apps are currently designed to obtain personal privacy information. For example, in a certain mobile mining app, they mentioned in the project white paper that the computing power of each user is measured by personal credit. In other words, the higher the credit, the higher the computing power obtained by the user, and thus the higher the mining reward. In order to use this mobile mining app and increase the computing power, users must bind their facial recognition information, China Higher Education Student Information and Career Center information, JD.com information, etc. Well, it's all a routine... If the higher the credit, the higher the computing power, then wouldn't Jack Ma and Liu Qiangdong be invincible?

What's even more frustrating is that many mobile mining apps are actually virus applications. For example, the malware exposed this year used the browser J script provided by the mining pool to mine. Because the browser J mining script is flexible and simple to configure and has the characteristics of full platform, it was targeted by malicious Trojans, resulting in more and more frequent security incidents using J scripts for mining. Before the mobile phone mining has mined cryptocurrency, hackers may have stolen all your information. People will not only encounter problems such as freezing, heating, and even freezing of their phones, but may also suffer other financial losses.

The pervasive pyramid schemes have not missed the hot spot of mobile phone mining. Some mobile phone mining apps are in the name of mining, but they let users invest money and continue to develop downlines. It can be seen that most of the mobile phone mining is just a routine.

Stay away from mobile mining and don’t waste your time

It is undeniable that mobile phone mining is indeed very popular now. Many people want to "get something for nothing" and make their first fortune in life through mobile phone mining. But as the old saying goes, there is no free lunch in the world. Most mobile phone mining apps are not real mining, but have ulterior motives. There are too many tricks in them that will catch people off guard and make them fall into the trap directly.

Even if some mobile mining apps are real, they are not valuable. Some media have tested that using a mobile phone equipped with a Qualcomm Snapdragon 820 processor to mine, the mining speed is 4600Kh/s. According to calculations, about $0.00000477 worth of Bitcoin can be generated in one day. If you want to mine a complete Bitcoin, it will take more than 20 million years! I don’t know if humans will still exist by then...

Warning: Cherish the good times and stay away from mobile phone mining! (New Tech Discovery by Constantine)