BitMain launches FIL miner for the first time
I just finished writing about Tesla last night and suddenly found out that Bitmain has launched a Fil mining machine. Because I am a miner myself and have been studying the Proof Of Work track, my first thought about this news is that Bitmain is the banker and Fil has a short float and the float is rising. Because I did not study in depth, I entered the circle. It is April 2021, and it is already oxtail, so I checked some information today and wrote this analysis article. If there is something wrong, please point it out in the comment area. $FIL
From the current price analysis, it is already an iron bottom. It has been maintained from last year to this year, and the basic float will rise to a maximum of 11u in August 2022. Judging from the current situation, Bitmain launched the machine after market research, otherwise it would not have been announced suddenly at this time. After all, the demand from the very beginning - conceptual design - PCB design, manufacturing and marketing are all consumption. With a lot of manpower, material and financial resources, the machine has been put on sale on the 21st. From the official website information, we can see that Bitmain has joined forces with ANTPOOL. I don’t know if this is a mandatory act. The price is not low. If you entrust the pledge, it will charge 0.5%. The service fees are very tempting from these points of view, but one thing that needs to be made clear is that whoever makes the profit you make is the dealer. So I recommend that you stock up on some, but it is not recommended to buy mining machines. Bitmain will calculate according to the current calculation. There are two prerequisites for making a calculation: 500 days to recover the capital.
The mining machine is not in circulation
FIL reaches 5u
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Benefits of Bitmain launching mining rig
Although it is not recommended for everyone to buy mining machines, you can still stock up on FIL. As analyzed above, the entire K-line chart is basically untouched, with an up and down fluctuation of about 0.5u. According to normal logic, the Bitmain machine came up with the idea of driving up the currency price. Let others see that the payback period is shortened, which is a common practice. I have made the following analysis on Bitmain’s launch of mining machines that is beneficial to FIL.
Increase the computing power of the Fil network: As a leading blockchain hardware manufacturer, Bitmain’s launch of the Fil mining machine will increase the total computing power of the Fil network. More mining machines entering the network means more storage space and faster data transmission speeds, improving the performance and security of the entire network.
Improve the profits of FIL miners: Bitmain’s mining machines usually have high computing power and power efficiency, which will enable FIL miners to gain more profits. Miners using Bitmain’s mining rigs will be able to utilize resources more efficiently and maximize their profits.
Promote innovation and competition of Fil mining machines: Bitmain’s participation will accelerate the innovation and development of Fil mining machines. As competitors in the market, other mining rig manufacturers may launch their own Fil mining rigs in order to remain competitive, thus driving the development of the entire industry.
Accelerate the growth of the Fil ecosystem: The large-scale investment of mining machines into the Fil network will attract more developers and companies to join the Fil ecosystem. More participants and applications will further promote the adoption and development of Fil, building a more powerful storage network ecosystem.
The launch of mining machines is good for FIL coins, but it is not good for mining machines.
Filecoin mechanism
The mining mechanism of Fil (Filecoin) is a mechanism based on Proof of Work (PoW) and is designed to ensure the security and effectiveness of the network. The following is the basic principle of Fil mining mechanism:
Storage Proof: The core goal of Fil mining is to store and retrieve files by providing storage space. Mining nodes need to show that they actually store files for a specific period of time and provide valid proof of storage to prove that they have the claimed storage capacity. Storage proofs are generated by executing storage replication and attestation algorithms to ensure data security and integrity.
Sector: The storage space is divided into a series of sectors, each sector is 32GB in size. Mining nodes need to store files in these sectors and generate corresponding storage proofs. The storage certificate needs to be updated within a certain period of time.
Challenge: The validator in the network will send a challenge question to the mining node, requiring it to provide storage proof of a specific sector. These challenge questions are randomly generated and determine the probability of a node being selected based on the number of staked tokens in the network.
Mining process: When the mining node receives the challenge problem, it needs to provide storage proof within the specified time to solve the challenge. Nodes must calculate a proof of storage and submit it to a validator for verification. If the storage proves valid, the node will receive a certain amount of rewards.
Incentive mechanism: The incentive mechanism of Fil mining mainly includes block rewards and transaction fees. Each miner who produces a block has the opportunity to receive a certain amount of Fil reward. The amount of the reward depends on the miner's pledge amount and the probability of mining success. In addition, the initiator of the transaction needs to pay a certain handling fee, and part of the handling fee will also flow to the miners.
It should be noted that Fil’s mining mechanism also involves details such as the storage market, reputation system, and PoST (Proof of Spacetime) to ensure the stability and security of the network. In addition, the Fil mining mechanism is a dynamic process, and as the network develops and changes, details may be adjusted.
What is entrusted pledge?
Fil entrusted pledge means entrusting the Filecoin (Fil) tokens you own to other people or entities for pledge, and obtain corresponding returns. In the Filecoin network, staking is an important mechanism used to ensure the security and stability of the network.
Specifically, Fil entrustment staking involves the following main roles:
Provider (Miner): This refers to the network participant that stores and provides storage services, and is also the node responsible for processing file storage and retrieval. Providers need to provide a certain number of pledged tokens (Fil) as collateral and provide storage space for these pledged tokens.
Delegator: A delegator is a participant who entrusts his Fil tokens to the provider for pledge. Delegators do not directly participate in storage services, but support providers through delegated staking and share in the rewards they receive.
Verifier: A verifier is a special type of node in the network that is responsible for verifying the existence of files stored by the provider and the validity of the files. Validators also need to provide a certain amount of pledged tokens and receive rewards through audits.
By delegating Fil tokens to a provider for staking, the delegator can receive a certain percentage of the staking return. Provider rewards are typically based on factors such as the amount of storage space they provide, storage time, and the total amount of pledges in the network. Delegators can choose different providers for entrusted staking to obtain the best returns based on their needs and risk preferences.
It should be noted that the pledged tokens cannot be retrieved during the staking period and cannot be unstaking until the staking period expires. In addition, choosing trustworthy providers and validators is also very important for the security and returns of delegated staking.
Summary: You can do it in the short term, but don’t buy mining machines (it does not constitute investment advice, the market is risky, and investment needs to be cautious)
