Bitcoin has risen to 350,000. How long will it take to mine one using a home computer 24 hours a day?

Recently, Bitcoin has frequently hit the screen. One of the reasons is because Bitcoin’s “wealth creation” story is surprising, and the second reason is because Bitcoin’s rise and fall are too crazy. After entering 2021, Bitcoin has been in a surge. Although it has fallen during the period, it has always remained at a high level.

Twelve years ago, the Japanese-American Satoshi Nakamoto created Bitcoin. It is said that Satoshi Nakamoto himself has not shown up yet, but the Bitcoin he created is already crazy. This year, the value of Bitcoin has repeatedly hit new highs, first reaching US$30,000, and then breaking US$40,000. By February 22, 2021, the value of a single Bitcoin hit a record high, with each one reaching US$58,000.

At this time, the total market value of Bitcoin exceeds 1 trillion US dollars. What is this concept? The total value of Bitcoin has surpassed many well-known companies in the world, ranking 6th in the world. Tencent, China's largest company by market value, can only rank second.

After February 26, Bitcoin fell again, falling to as low as $44,000. Despite this, there are still many investors who are happy with it, and more new people are joining the "mining" business. Optimists believe that the rise and fall of Bitcoin in history is too normal, but the overall value is still rising.

Bitcoin has experienced many ups and downs in its more than ten-year history, and has even gone bankrupt. Some optimistic investors believe that the current decline of Bitcoin is not a big deal, because such declines have occurred many times in history. For example, in 2013, it soared to a maximum of $1,000, then fell to $150 in the blink of an eye, and at the end of 2017, it rose to a maximum of $2. Ten thousand US dollars, fell by 50% in the next month or so.

Such a decline seems unable to prevent more investors from entering. In 2014, the opening price of Bitcoin in China was more than 3,000 yuan, but by March 10, 2021, the price of Bitcoin exceeded 350,000 yuan, and the price of a single Bitcoin has skyrocketed. This kind of attraction is huge enough, and more people join the army of "coin mining".

Since the price of one Bitcoin reaches more than 350,000 yuan, compared to the price of one kilogram of gold, how long does it take for ordinary people to mine one? ?

The answer may disappoint you.

Bitcoin is a product born on the Internet. As long as the home is connected to the Internet, ordinary computers at home can also "mine", and as long as you persist, you can "gain". However, data shows that such a "harvest" is so small that it would take 18,000 years to dig out one Bitcoin.

According to data, if you use an ordinary home computer to "mine" and work 24 hours a day, you can only dig up to 0.00000015 Bitcoins in that day. This kind of efficiency is really worrying, because it means that it takes 18,000 years to mine one Bitcoin with a home computer.

In fact, before the value of Bitcoin skyrocketed and more people were not aware of this virtual product, some miners used ordinary computers. At that time, "mining" "Mining" was hundreds of times easier than it is now, so mining with a home computer at that time would yield much greater rewards than it does now.

However, with the skyrocketing price of Bitcoin, the price of one Bitcoin is even the income of many people who have worked for decades, and more and more Bitcoins are being mined, and there are still more Bitcoins to be mined. The number has decreased, and the difficulty of "mining" has increased sharply. Many investors have begun to use more efficient and professional "mining machines."

In some places, "mining" can be called crazy. There are reports that all Internet cafes in some places in Vietnam have been closed and used for professional "mining". In addition to professional equipment, "mining" also has a Everywhere requires a large amount of money, that is, electricity bills. Data shows that Bitcoin’s electricity consumption is equal to the sum of the four European countries of Denmark, Greece, Iceland, and Hungary, which is a huge cost.

Is investing so much money in “mining” guaranteed to make money? The answer may disappoint everyone again. Bitcoin's "creation of wealth" is based on rising prices. Once the price of Bitcoin drops and it is no longer so valuable, investors may lose everything.

Some experts have warned that the Bitcoin market is the easiest to be manipulated because Bitcoin is mainly concentrated in the hands of certain people. A virtual currency that is so expensive cannot be separated from the hype of this small number of people. , at the same time, there is currently no sound and mature Bitcoin market supervision mechanism in the world, so the risk of investing in Bitcoin is very high.

So, for ordinary people, it is better to stay away from Bitcoin and "mining", what do you think?