Lots of people believe Bitcoin is impregnable. Yesterday showed it may not be. GHash.io, the world s largest collective of bitcoin miners, gained control of more than 42% of all of the computer processing that powers the Bitcoin network. (Because of the expense now involved for a single miner to create bitcoin, lots of people now pool their computing power.)…
This chart, from Bitcoin wallet service and block explorer Blockchain.info, shows the amount of computational power worldwide dedicated to Bitcoin mining — the process of maintaining the public ledger of all Bitcoin transactions, and of being rewarded new Bitcoins for participating in this process. In just the last few months, this amount has exploded: The chart…
Scrypt ASICs continue to make waves in the digital currency mining scene. Both 1-chip and 5-chip ASIC designs from GridSeed are “old news” and the G-Blade and ZeusMiner series are in the hands of anxious miners. In my on Litecoin mining with ASICs I discussed the 5-chip GridSeed Orb. In this article we’ll be taking a look at the Orb’s big brother: the GridSeed…
Features Boots and mines: IP assignment via DHCP, watchdog cron makes sure that miner works. DAG file management: SSD won t run out of space. Remote pool management possible: just reboot to get new config. Hostname defined by your mac address: ideal for multiple rigs. Limitations of Scope The below are common requests from small-scale miners. ethOS is meant for…
Bitcoin difficulty and hash rate statistics should be considered an illness. The symptoms include anxiety, depression, sleeplessness and paranoia. Bitcoin miners follow their every movement, rejoicing at smaller-than-expected difficulty changes and collectively dismaying when things go the other way. Authoritative-looking charts have people puzzling about why…
The advent of internet has paved way for unlimited business opportunities that one can easily start and run from the comfort of his or her home. If you love working from home, then you should consider starting an internet based business. One of the businesses that can easily be started with the use of computer is bitcoin mining. You might just ask what is bitcoin?…
Since the beginning of 2015, Bitcoin startups have begun to abandon bitcoins due to their highly volatile price. In January this year, Bitcoin mining company CoinTerra was sued for over $5 million as it failed to pay its bills when the price of bitcoins dropped. Bitcoin firm Digital CC terminated its mining services, as it was losing cash in the operations. Therefore…
Simple Definition of Bitcoin Mining: People run “mining” software on computers. This software tracks all Bitcoin transactions and makes sure that people can’t spend the same Bitcoin twice. People “mining” are rewarded for their resources with unreleased Bitcoins. If you were mining Bitcoin when it was first released in 2009, you could easily have mined hundreds…
Four weeks: That s how long Swedish bitcoin mining company KnCMiner takes to build a new datacenter, from breaking ground to beginning operations. The longest part is signing the agreement,CEO Sam Cole said Friday, announcing plans for another 20MW datacenter in the Swedish town of Boden, part of the Node Pole technology cluster near Lulea where Facebook built…
Bitcoin is broken. And not just superficially so, but fundamentally, at the core protocol level. We re not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works. All other cryptocurrencies and schemes based on the same Bitcoin idea, including Litecoin…
Basically the idea is that you assemble a Namecoin block and hash it, and then insert that hash into a Bitcoin block. Now when you solve the Bitcoin block at a difficulty level greater to or equal to the Namecoin difficulty level, it will be proof that that amount of work has been done for the Namecoin block. The Namecoin protocol has been altered to accept a…
Mining solo, while sometimes more profitable, it s usually not the right choice for most miners. When mining solo, you are doing all the work alone which means that you ll receive the entire block reward, the problem is that mining is also based on a luck factor, which means that if your hashpower isn t high enough, you may never see a reward come your way. With…
For all the attention that Bitcoin receives in the news, the most interesting peculiarity of this crypto-currency has largely been ignored. Sure, we’d all like to know whether the currency will ultimately succeed without any ties to a real-world economy. And Bitcoin’s rapid fluctuation in value over the past six months has certainly turned some heads. But how…
Butterfly Labs entry level Jalapeno Bitcoin miner sells with a mining rate of 5 G/Hash per second, as well as with an upgrade that bumps its performance to 7 G/Hash per second. And while both are pretty paltry in comparison to those that function at guaranteed speeds of 30 GH/s, or Butterfly s own 600 GH/s mining card, they re still a decent way for Bitcoin…
A premier Photo Book about bitcoin miners and their journey to find the best mining pool. Shipping to customers the second week of December. Order now to get it before Christmas. Mining Pools is part of a series of photo books personifying bitcoin technology and lore. In this book, follow bitcoin miners in their quest for the best block reward in different pools…
Bitfury, the best-funded miner through investments has today announced the mass production of its 16nm Application Specific Integrated Circuit (ASIC) Chip, a project that was in development since the beginning of 2015. Bitcoin mining behemoth BitFury has revealed that it will begin mass production of its 16 nm mining chips following testing that has met expectations…
Bitcoin ASIC Hosting is ready for winter with a fire sale at $60/kw with capacity available starting in November with a 6-month prepaid commitment. With over three years of cryptocurrency focused datacenter experience, we at Bitcoin ASIC Hosting have optimized our cooling and power distribution methods to offer the premiere datacenter experience at a fraction…
A former employee of the US central banking system, the Federal Reserve, was issued a fine of $5, and sentenced to 12 months’ probation for mining bitcoin on a Fed-owned server. Nicholas Berthaume was employed as a communications analyst with the Board of Governors of the Federal Reserve System. According to an announcement by the Fed’s Inspector’s Office yesterday…
