On the evening of October 17, a report spread in friends circle: five mining companies in the Pioneer group staged a collective shutdown demonstration. For example, The equivalent of zhihe Cloud has decreased from more than 8,000 mining machines to 276,1475, and the equivalent of four other mining machines has been zero. The equivalent of Space-time Cloud has also decreased from more than 11,000 last night to 1870 now. Moreover, many companies choose not to increase their computing power.
On the other hand, Lai Chuhang, the founder of IPFS Chinese community and chairman of Yunshi Cloud Technology, posted on moments: “When the main network went online, all the miners stopped there. It’s really not a so-called ‘demonstration’, but helpless! Is that everyone does not have money for collateral mining!
Filecoin’s economic model was stacked against the miners. It was a done deal even before the mainnet went live.
Before I show you what the miners are thinking, let’s understand why Filecoin’s economic model is at odds with the miners’ interests.
Filecoin mining requires Filecoin’s token FIL to be mortgaged.The collateral mechanism has two parts: block reward collateral and front mortgage.
The block bonus mortgage means that the block bonus won by the miner will be unlocked in a linear release within 180 days, so the miner can only get the full reward after 180 days of digging the block, and the disposable FIL for the initial block release is very small.
On October 15, the effective computing power of the whole network was 566.9PIB. Today, it is 589.6PIB.
Filecoin actually is not, therefore, is suitable for anyone involved in a project, if you don’t have to rob all of mine, so it’s already missed the best entry opportunity, in recent decentralized financial (DeFi) the explosive growth of the industry in less than five months time to lock the nearly $5 billion worth of COINS and etheric fang. So this is actually a bonus period for ethereum mining
Now access to ethereum is actually a lot of methods, mobile phone cloud computing power mining is the future trend of development, very convenient, do not have to buy their own mining machine, mobile phone can be dug, withdraw money at any time, as long as you have a mobile phone, whether apple or Android, can.
Mining ethereum now is just like mining bitcoin 10 years ago, with high production and low price. If you miss Bitcoin, don’t miss Ethereum, quickly dig more and save.
For ethereum investment novice, perhaps cloud computing power mining is also a good choice! One of the simplest operation method, get the cleanest ethereum! Old miners take you with them
