Bitcoin Mining in November 2013

Why mine bitcoin:

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.

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

There are MANY bitcoin resources online:




Pool example (real):

It’s fucking HARD to mine bitcoin:

Hardware for bitcoing mining:




unit converter: BTC


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