Chapter 60
Chapter 60:
“You’re right, Amelia. If that kind of fee system is implemented, it will improve the situation, but as I said earlier, there are many other problems with this version anyway.” Woosung continued before Amelia could say anything. He wanted to show her that he knew better than she did. “Many other issues the include slowing down of the system as time passes and depletion of bitcoins which will, in turn, decrease consumers’ interest.”
Amelia adjusted her glasses. “Well, I still find it very interesting. It’s truly an innovative idea!” Amelia’s eyes shined in excitement.
Woosung could feel her true joy at discovering and learning new technology.
“You seem like you’re enjoying yourself.”
“Haha, do I look too excited?”
“No. It’s nice to see you having fun.”
He meant it. Amelia asked a few more questions, Woosung answered them using the information he knew from 2018. Amelia looked at him with respect.
“Phew, I think that’s it for now. I will get back to work.”
Woosung looked at his watch in shock. It was past 9 pm and Amelia was still planning to work.
“Aren’t you going home?”
Amelia checked the time and answered coolly.
“It’s only 9 pm. I live next door so it’s fine.” Woosung continued to stare at her with an obvious look of astonishment. He has never met someone like Amelia before. She rubbed her hands and murmured. “Haha, now let’s really get into it.”
Woosung was still sitting beside her, but she didn’t seem to notice.
Unlike her, Woosung was tired after a long day. He stood up quietly and headed to his hotel.
CPU.
GPU.
ASIC.
These were three levels of circuits for mining different cryptocurrencies. CPU was the slowest, followed by GPU. ASIC was known to be the fastest.
You could think of CPU as a single van transporting a person, a piece of equipment, or an animal to a destination. On the other hand, GPU was like a group of buses transporting people to the destination. Finally, ASIC was a group of buses transporting people but using the bus lane.
It was no wonder ASIC was the fastest mining system. It was designed specifically for mining. Woosung would’ve loved to work on creating ASIC, but he was already busy working on the smartphone project. He had to be satisfied with GPU mining for now.
In theory, Woosung could start mining using CPU, but in his previous life, the very first block was produced on January 3rd. Woosung worried that if he started mining now, it may change the future. He had to wait just to be safe. He planned to start mining on January 4th.
‘The very first block will remain to Satoshi Nakamoto’s, but I will eventually become the one with the most bitcoins.’
He could end up with a million, three million, or even five million bitcoins. Woosung also planned on gathering other cryptocurrencies including Ethereum, Ripple, and Eos.
GPU core was currently Amelia’s responsibility, while Woosung worked on developing mining servers. He focused on making it simple and easy to use. Woosung had worked on web screen development countless times in his previous life, so this was a piece of cake for him.
Woosung’s next focus was daytime trading.
Woosung knew the stock market trend well from his previous life. He especially was familiar with the stock price history of Nuri Corporation.
“Let’s see. Today is November 14th. Nuri Corp is currently worth 13.50, and it will soon become 15 dollars. So I should buy a million dollars of it.”
Transaction completed.Transaction completed.Transaction completed.
Because Woosung was buying a large quantity, his order was completed in multiple separate transactions. Every time a part of his order was filled, the alarm on his cell phone rang.
“Now I should place an order to sell the stocks automatically when the price reaches 15 dollars.”
That would make it 11% profit.
In only a week, Woosung would make 100,000 dollars. For something like this, he didn’t even need the algorithm trading system.
“And there is one more stock I need to buy…Let’s see. How much is it today?”
One of the stocks Woosung remembered well was Pine Tech.
It was a small PDA manufacturing company. In his past life, its stock price skyrocketed when there was a rumor of it developing an Android OS. At the time, CDMA (Code Division Multiple Access) was not supported, so it could not be released in Korea.
However, with the rumor alone, the stock soared in a short period of time. Woosung remembered Kim Yonggun talking about how he should’ve bought it.
In his previous life, Kim Yonggun’s nonstop talk about this stock was annoying, but now Woosung felt appreciative.
Woosung started buying the Pine Tech stock at the price of only 70 cents. He couldn’t buy too much of it all at once in case someone suspected an insider trading.
At 70 cents, he bought 100,000 dollars of it.
At 74 cents, he bought 100,000 dollars of it.
At 80 cents, he bought 200,000 dollars of it.
At 90 cents, he bought 200,000 dollars of it.
Woosung took his time with it. Soon, the stock price reached a dollar.
And finally, the news he has been waiting for came.
“Pine Tech Android CDMA Technology development is underway.”
The development wasn’t even complete, yet the price went up to 4 dollars quickly.
“Daeyang Technology supply contract is underway.”
“LT Technology supply contract is underway.”
When the rumors of Daeyang and LT’s interest in Pine Tech started, the stock price soared further to 20 dollars.
“There should be more news coming soon…”
By this time, Woosung held a total of 5 million dollars of stocks.
Compared to how much he made during the financial crisis, this was not a lot of money. Woosung continued nonetheless. It felt like a fun game to him.
The future happened as he expected.
December 1st.
“Pine Tech Android CDMA technology development is underway.”
With this news, the stock price reached its peak. The next day, it started to decline. Woosung knew how things were going to work out, so he started to purchase even more stocks. Since he placed big orders, the price held and stopped falling.
In October during the financial crisis, Woosung found every day stressful. The potential benefit was huge, but the risk was big as well. With the game of put options, it was possible for Woosung to suddenly go into debt of millions of dollars in days or even minutes.
But now, a few millions of dollars were nothing to him.
He enjoyed it as a game. Then, Woosung had an idea.
‘What if I buy Pine Tech and combined it with my current company? It’s a well-established company with good employees. I should look into it.”
Woosung grinned. Amelia approached him and asked.
“Aaron, I’m almost done with the conversion to GPU. Do you want to have a look?”
Woosung rubbed his hands and stood up.
“Sure. Let’s see.”
A few weeks later.
Hundreds of computers arrived at the Silicone Valley factory.
Server
CPU: Intel Core 2 Q6600.
Graphics Card: NVidia GeForce GTX 295.
Graphics card was 500 dollars each. The CPU was about the same price. Other equipment cost about 1500 each.
Since he bought 500 units, it cost him 750,000 dollars in total.
It was an amazing price thanks to the effects of the financial crisis.
After everything was installed, Woosung connected to the maintenance program he created.
http://devops.kindcoin.com
When he entered his ID and password, he could look at the server statuses.
Server Status: 500 Green. 0 Red.
Average: 0 MHash/S.
The Output: 0BTC.
500 Green.
All servers were working normally. The output was still 0 since mining hasn’t started yet.
Woosung clicked the button “Full Start.”
Click.
1 Server Starting…
2 Server Starting…
3 Server Starting…
…
…
500 Server Starting…
When the last server started, the Average of 0 changed as well.
14 MHash/S.
Within a few minutes, The Output changed too.
The Output 1.4121 BTC
The very first bitcoin was mined.