Bitcoin Mining in November 2013

Why mine bitcoin:

https://www.spendbitcoins.com/bitcoin-mining-guide/

https://www.virtapay.com/virtual-currency.php

http://en.wikipedia.org/wiki/Cryptocurrency

http://en.wikipedia.org/wiki/List_of_cryptocurrencies

If you “solve” problems for bitcoin, you get paid,

in newly minted bitcoin.

The “solvers” or “miners” were PC programs, at first.

Then, someone made the powerful graphics processor (GPU) do the work.

Then FPGAs were used to mine.

Now, custom ASIC supercomputers mine.

The compute power for bitcoin right now is 3,746,000 gigahashes (GH/PS).

I own 30 GH/PS, myself. Doing the math, I have 1/125,000 of the network compute power.

Every three days, I process a bitcoin transaction.

I just ordered the 300 GH/PS unit. That will give me 1/11,000 of the bitcoing power, until more comes online.

That will let me process five transactions a day.

My units are the 5 GH/PS units and they seem to run great, four systems giving me 30 GH raw with 10% reject.

http://www.ewal.net/2013/05/13/butterfly-labs-jalapeno-ten-months-and-two-weeks-later/

http://www.butterflylabs.com/drivers/

https://forums.butterflylabs.com/announcements/3282-bitforce-sc-firmware-version-1-2-5-a-3.html

The real beauty of bitcoin is as it goes up, mining becomes more profitable.

There are MANY bitcoin resources online:

http://bitcoinwatch.com/

macminer:

https://bitcointalk.org/index.php?topic=197110.140

https://bitcointalk.org/index.php?topic=197110.0

Monarch:

https://forums.butterflylabs.com/bitcoin-news-articles/5790-cointerra-tape-out-vs-monarch.html

 

Pool example (real):

http://pool.fabulouspanda.co.uk:9332/static/graphs.html?Month

http://pool.fabulouspanda.co.uk:9332/static/

https://forums.butterflylabs.com/bitcoin-pools/5051-how-do-you-choose-pool.html

https://litecoin.info/Mining_pool_comparison

It’s fucking HARD to mine bitcoin:

http://bitcoindifficulty.com/

http://bitcoins.wikispaces.com/Rejection+Rates+with+Miner+Clients

Hardware for bitcoing mining:

http://www.bitcoinx.com/bitcoin-mining-hardware/

http://minr.info/

https://en.bitcoin.it/wiki/Mining_hardware_comparison

Calculators:

http://www.bitcoinx.com/profit/

http://mining.thegenesisblock.com/a/103f27233b

resources:

blockchain

https://blockchain.info/address/14brPwTZA8jB3AVRpMKhvLYFQGr5GJGRMN

unit converter:

http://coinmill.com/BTC_USD.html#BTC=0.00870426 BTC

wallet:

https://blockchain.info/wallet/login#

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