The first bitcoin miners from bankruptcy to worth nearly billion

The first bitcoin miners from bankruptcy to worth nearly billion


Bitcoin how valuable?

Initially, 1 bitcoin exchange only about 0.005 yuan. In the past 1 years, bitcoin rose to 267%; over the past 2 years, an increase of up to 740%; the past 4 years rose 113.3 times. In June 12th this year, bitcoin topped $3000 (about 20523 yuan) mark, reached $3012.05 (about 20606 yuan), a record high.

What is bitcoin? It is a combination of things. According to the British expert Skinner described, bitcoin is a currency, an agreement, a technology, a kind of ecological system, a trading system and a contract system etc.. The total amount of bitcoin is limited to 21 million, while the new bitcoin is produced by the network node. The miners each solve a math problem, will form a new node.

Because it is too difficult, a group focused on the mining of mine came into being. More and more people are engaged in this work. They are keen on this, because every generation of a bitcoin, you can get 25 coins (* see Note 1 at the end of the paper).

The hero Mr. B was first started bitcoin in 2013. Was a civil servant who almost all the savings in buying fund currency speculation, and even sold their house. Then, he will most bitcoin have invested in a stock. While the stock behind the boss has run away.

He did not like those “once bitten twice shy of ten years” friends, choose to leave, but the real meaning of “mining” in 2014, being a miner”. In its scale, capital adequacy, and in 2015 he chose to open a “field”, provide the service for other miners. He is sitting on a number of mines, bitcoin has thousands of pieces, estimated its worth nearly billion. More insiders called Chinese first bitcoin miners”.

He experienced the ups and downs of what? There is what kind of mentality? How will he look at the current bitcoin? The day before, entrepreneurs &i horse chatted with Mr. B. The following is the oral Mr. B editing on the entrepreneur &i dark horse.

It is the Spring Festival in 2013, my first contact with bitcoin.

At that time, playing bitcoin a friend, so he gave me a Amway. Early contact with bitcoin, IT is mostly male, they are holding a play of mind, did not expect what will happen in the future.

As a civil servant, I, then the feeling is, this industry not only there is speculation, and indeed has value. Soon after, Li Xiaolai created a bit just to catch up with the Fund (entrepreneur &i horse note: the former New Oriental teacher, founded in 2013, focused on the Internet and bit fund, bitcoin related investment) roadshow, throughout the speech, raise funds and engage in the game, I was involved in the.


I took the money from home, also sold a house 60000 sets, then the money to buy the fund currency speculation. The fund was 100 thousand yuan a bit shares, equivalent to more than 130 coins.

At the beginning of 2013, bitcoin currency price is 100 yuan. I am in the admission after the Spring Festival, when the currency price rose to 700 yuan. The price is not expensive. By July and August, currency prices are way down to 400 yuan.

Currency price all the way down, I was excited all the way. The money is not enough, two credit card use came in handy, as long as the amount will be used to overdraft. Wages are all used to buy coins. In short, whether it is up is down, I open a road to buy. After buying the fund, my hand has accumulated hundreds of bitcoin.

Later, I put the coin into the basic roast cat (* see Note 2 in stock at the end of the paper). I was really optimistic about the mining industry, about to buy a few hundred shares, spent a total of 1800 coins. This is a lot of money. To tell the truth, I bought Li Xiaolai a bit does not have such a large investment fund.

The second half of 2013, in our time and again, the roast cat announced earnings. For fear of one generation machine is not perfect and not market, coupled with the continuous dividend to push up the share price, roast cat book basically no money, owed hundreds of thousands of staff wages. Roast cat is a group of technology Indoorsman opened, no management experience.

The earnings came out, its share price fell by 70%. I was dumbfounded. Many friends have prophetic vision in the initial investment, but I did not dare to throw, not to give up, until the beginning of 2014 boss run away. That one, I might lose a thousand coins, only hundreds of thousands of yuan.

I think they are from first to last judgment not wrong, just choose the wrong person, not only the subject of investment. I look for the bitcoin industry.

Probably at the end of 2013, RMB price from 8000 yuan fell to 900 yuan. I didn’t expect to fall to around 700 yuan started buying price, really a bit fameng, numb hands and feet. Although only a moment, but just at that moment, I have mine without profit, dug out the coins have enough to pay for electricity, must be shut down. At that moment, I went bankrupt. At that time, I really cannot read, how such a good market, going down so badly?

The market is always beyond your imagination, so you should always be in awe of the market. However, soon the currency price back to 1000 yuan or more, there are some profit.

Later, a few friends, because the roast cat and the objective factors such as currency price, “once bitten, twice shy of ten years” downhearted about the industry, choose to leave.

A miner

In 2014 April and May, I decided to buy their own machines. Those friends really do not understand this approach, say I eat so badly, how do. I went to investment, ninety percent of the people do not know what is bitcoin, ten percent people know it is a pyramid. Then a few people to dig.

I bought dozens of ant S3 mills. The noise and power consumption of expensive machines at home is not possible, I will give them to a friend of mine managed. The field is not too small, probably hundreds of kilowatts, but is very simple. Sometimes, when the power supply is off off the network, the parties do too much. The approximate location of mine I know, but for some reason the other does not want to disclose the specific location. I don’t want to visit.

The machine costs about 100000 yuan, after continued to one hundred or two hundred. The other hosting costs per kWh 4 gross charge (entrepreneur &i horse note: Mine General managed plus the costs of electricity.).

As long as you make money, there is no cost. For example, I spent 10 thousand yuan to buy the machine to dig coins sold a year after the real time, able to recover 10 thousand yuan, so you can return to this. If I had to dig coins in the store, a year later, not only to the currency, prices will certainly earn several times. I know a boss, he dug a coin would not sell, save all.

At that time the cycle to be faster than it is now, the basic is 3 months to half a year. Due to the recent currency prices rose more fierce, the ant miner back to this period, from a few months, the first year to more than a year later, now again shortened to about half a year. This cycle of ups and downs with the development of the industry.

Roast cat and investment stock almost, I rarely go to sell or fried machine. Unless it is fast enough, electricity costs or when new models come out, I was selling the coins to buy machine, rather than selling the currency convertible into money.

I will go to see the price of money through internet. Return is much stronger than work. An investment of 300 thousand yuan, after returning to the at least one month can earn ten thousand or twenty thousand.

If you take it as the RMB business, it is always profitable. Now every generation machine, as long as you get the hand, almost no loss. The most fundamental reason is that bitcoin prices have been rising, resulting in mining profits have been pretty good. However, if as a bitcoin business, many people will lose. Because bitcoin prices have been rising, stress has been piling up. When selling coins to buy machine, basically is not so much money to dig back.

Open mine, boss

From the beginning of 2015, with its expanded significantly, I make a pot of gold. I feel that is not reliable in others, the resources on the thinking of building their own mines. I only said to pull over a friend to understand, he gave me millions of dollars in investment.

This industry is just emerging, unsystematic. We first mine only a few hundred meters, the beginning of last year was built, there are many loopholes. For example, day shift, night shift machine, how to maintain, how to make financial statements, maintenance costs etc.. These basic is to rely on their own way out of the rules and regulations. After the construction of a more than 1000 square meters of mine.

Now, the mine was placed in the more than 20 thousand machine market value should be 2~3 billion yuan, and the early years of different customers increased significantly, especially for large customers, including some traditional industry companies, real will buy thousands of mills. They took the machine sent to me, I am responsible for hosting the mine.

After all, there are so many mills, the team has reached the scale of four or five people. Although there are some automated tools, but still need maintenance, maintenance personnel, need to pay attention to whether the machine dropped etc.. However, the requirements of professional quality is not high. The young man was trained very quickly, one or two months to get started.

We will encounter some trouble, the way to deal with is the “roll with the punches”. For example, tens of thousands of machine generated noise, by the opposition of the residents. In order to solve this problem, the soundproof walls will soon start building. In a word, as far as possible and surrounding his neighbours, others claim to meet Friendliness is conducive to business success.

We charge a custody fee for profit. In addition, we also buy the machine, buy a card, which is still. Soon, we will be a new field in the West was completed, the scale is much larger, the sun go route. I can not say the specific location, then said there could be trouble.

In fact, do not make money is mine, you also must earn more money to buy mine. I take it as a career to do, to develop their own team, have their own place.

I belong to the “stubborn” people. The character of the people, whether it is to buy stocks or bitcoin, relatively hard skull. I will always do in this industry, the depth study of digital currency mining, for all services at the same time, they can gain.

Ma Yunceng said a word, “look down, look not on, cannot read, too late”. We are from being despised, not being looked at, now people cannot read. I believe there will be a great day. Now I do with a lot of friends, get a good income, some are not involved in how to persuade, now has come to feel. This industry will continue, it may be low, but the total experience upward.

From the beginning of last year, there is a clear trend, a large number of traditional industries began to pay attention to the capital of the bitcoin industry, a shot is tens of millions, billions of dollars of investment scale. Accordingly, the consumption of electric energy is also growing, two years ago, the bitcoin mining power consumption accounted for 1/10000 of electricity consumption is certainly more than this proportion.

In a “miners” just at the end of the event, more than 500 people signed up, but the more than 1000 people. Long team, I do not want to look into the venue. Among them, most are from the traditional industry to the new, early game player not only a few geeks.

A friend and I said, bitcoin for “moving”, this will be a qualitative change.


Over the past four years is four years bitcoin barbaric growth, four years is its controversial. Block chain technology as the representative of bitcoin are subversive, perhaps will have a huge impact on many aspects of the future society. But we cannot ignore many of whom are doing money laundering and other illegal acts by the name of bitcoin.

At present, although some countries have recognized the bitcoin identity, but most still on the sidelines, and even rejection. Next, where bitcoin will go? Depends largely on the behavior of practitioners.

When undertaking &i horse note 1:2009 bitcoin was born, is a bounty of 50 coins. 10 minutes after birth, the first batch of 50 bitcoin generated, but the total amount of money at this time is 50. Then bitcoin takes approximately every 10 minutes at a rate of 50 growth. When the total reached 10 million 500 thousand (21 million 50%), bounty halved to 25. When the total reached 15 million 750 thousand (5 million 250 thousand new output, i.e. 1050 of 50%), then the bounty halved to 12.5. And with bitcoin miners in half, greater pressure, force is more demanding to upgrade.

Entrepreneur &i horse note 2: roast cat is a machine suppliers, rely on mining and selling machine to earn bitcoins. Investors can use bitcoin to buy roast cat stock, and obtain dividends and other income. Roast cat virtual IPO, as long as 0.1 per bitcoin, then the stock rose 50 fold to about 5 bitcoin. At the same time, currency price increases.

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