Bitcoin and other cryptos are the future to which we are heading. With them, our life would be so light. LIFE IN THE CHINESE BITCOIN DOLE The isolation in the rural area of northeast China has located six mines on bitcoins that belong to a mysterious group of four people. By October 2014, they generated 4,050 bitcoins per month, about 36 million crowns. Their computing power is equivalent to 3% of the entire BitTorrent network. We head to Changcheng, one of our bitcoin farms. Dalian has a special place in the bituminous industry due to the environment.
Air quality and conditions are quite good. Conditions in other mining towns are quite harsh. The life of miners is quite dull. We look at the best bitter mine in Changcheng. It is a three-story building. We have the second floor. I am the general manager of this mining site. I’m in charge of the operative. This includes equipment, staff, and supply of electricity. I and my friends have created this project together. We are all shareholders. We put the money together and solve the problems together. We currently have 6 downs. We are doing our best to open more mines. We race to respond to demand on the Internet. Whoever has a great performance will be rewarded. Rewards are bitcoins, a virtual currency. In the best times, we mined up to 100 bitcoins a day in each mine. As the demand and computing power increase, the numbers change. Electricity costs are also associated with this. We use about 1,250 kWh. Our electricity bill is around 2 million crowns per month.
At this scale and with this equipment, we will earn 20 to 25 bitcoins each day. We have about 3,000 miners here. Everything starts with the connection of mining machines to power. Then connect them to the Internet. Once miners are online, computers can change their settings. Then they can create algorithms. When the right calculation is done, we get a reward. I believe Bitcoins will be the currency of the future. They can not completely replace the current financial system, but the financial system goes in this direction. Bitcoin value is not stable because we are still at the beginning of development. Honestly, it’s still a stage of mining. It is similar to China’s transition from cash on the use of credit and debit cards. We believe in them because they are the trend of this era. This is one of the periods that a financial company must have to go through your development. Right now, the Chinese government neither supports nor opposes us. If the bitcoin market operates safely and legally, I think the Chinese government will continue to support in the future.
These machines are either broken or no longer used. There are about 900. Because Avalond consumes more electricity and has lower performance, it is a product that should disappear from the market. Our machines have higher performance. We recycle everything we can and give them a new purpose. The remainder can only be disposed of as waste. The fans must work, otherwise, the temperature would be too high. When machines overheat, it collapses. You see the fans yourself. When something goes wrong, performance drops and the miners’ back turns red. We also have large suction fans here. There are twelve of them. When you walk into the room, you feel a great gust of wind. For heat dissipation, it works great. When they are running at full power, they could get somebody in.
It tastes good, is not it? Tasteless? Soak it in a sauce. Most employees live right here. Compared to the same positions in the traditional industry our employees have relatively high salaries. Once the machine starts, it can not stop due to a human error. Common problems include electricity, with the power supply, the internet, or the computers themselves. These things directly affect the profits from our mines. The main qualification of our employees is knowledge of computers. They have to understand them really well. We will learn the other abilities associated with Bitcoin after admission. This is a restroom. Employee life is simple, perhaps a little boring.
In addition to monitoring devices, workers are asleep, read or play on mobile phones. Because we are working 24 hours a day, we need somebody here for security. So when employees have a service, they must also be available at night. The problem of which I’m most afraid is a massive system failure. Let’s say I have 1,000 machines and 200 of them will fall. I will have to find out where the error occurred. Most problems can easily be solved. The workload is also not too great. I can drink tea or coffee while I watch the machines. I listen to audiobooks and play games, drink water, smoke … When I’m tired, I’m over and relaxing. At first, I was not very excited. But now I think it’s great. How many of your assets are Bitcoins? At this point, it’s about 50%.
Another 50% in cash. Do you think it’s a good time to invest in Bitcoins? I think so…