In China, a lot of mines have been closed, recently, the country consecutive, hands, Inner Mongolia, Qinghai, Sichuan and other places, closed bitcoin mines. For a time bitcoin, Chia, ether mines have moved out,
Or Europe, or the United States, to the point of airlifting thousands of mining machines. Lead to instant panic in the currency circle, investors are not calm. Have you ever run into things like that, have you run into things like that, bitcoin uses a lot of electricity, to use a metaphor, bitcoin if it were a country
What about the electricity consumption of the country. The country ranks 16th in electricity consumption, which is a huge power data. Plus bitcoin tax evasion, the country for the interests of the people, is bound to crack down.
Why wasn't FIL affected at the same time? This brings us to Fil's parent system, IPFS distributed storage, which is a peer-to-peer distributed file system. And prevent serious data loss. The system is efficient, secure, and inexpensive to store information.
On July 15th, the relevant departments in Chengdu also held the Web3.0 Summit. At that time, all the major media came to the summit.
So what are the topics of greatest concern? The news that IPFS could move west as part of the eastern Counting policy immediately raised the spirits of our friends in the circle who had always been optimistic about FIL. Although the price of the currency has dropped, it has not greatly affected our mood. Still full of confidence.
Now that the currency price drops, there are both advantages and disadvantages. The advantage is that the threshold for new friends to enter the circle is lowered, and the disadvantage is that the time to pay back the capital will be greatly extended, and eventually it will make money. Because IPFS's mission is also to replace HTTP as the innovation of the Web3.0 era. Bitcoin is a decentralized transaction data storage system with a price of 2,000 to 3,000 yuan per block, while IPFS distributed storage has an effective computation power of 250 yuan per block. The cost was reduced by as much as ten times. The Chinese Academy of Sciences and Fudan University have set up IPFS laboratories.
Fil coin mining process, in essence, is through the IPFS distributed storage system, to help others, store data information.
The more you store! The more Fil coins the IPFS system gives you. So, the process of mining Fil coins, is the process of storing data, this process is meaningful, valuable, that is why, other mines have to move, and Fil coin mining is not affected.