KnC Miner , a company that provides hosting services and builds software for bitcoin mining, has added 20 megawatts to what was previously going to be a 10 megawatt data center in Boden, Sweden, in the vicinity of a massive Facebook data center. The company said it decided to expand its data center capacity in Boden to a total of 30 megawatts and 160, square…
Things continue to heat up in the Bitcoin mining world as of late. As the hashrate continues to increase, it is only to be expected the mining difficulty continues to go up accordingly. Earlier this morning, the difficulty adjusted once again and increased by 7.43%. This adjustment marks a new all-time high for mining ever since bitcoin was created. New hardware…
Our computers has very less power when we compare it to the difficulty level of mining and it s very hard to get one bit coin. But to overcome the second issue there are pools . But still the first issue remains the same. The ordinary desktop computers doesn t perform in a good manner relative to performance/costs spent for the hardware . But, Google has a…
If you have been paying attention to bitcoin at all lately, you may have noticed a lot of talk going on about forks . Not like the kind you would find on a table, on a blockchain, a fork is a technical event that occurs because diverse participants need to agree on common rules. At its most basic, a fork is what happens when a blockchain diverges into two potential…
Bitcoin Exchanges Some Bitcoin miners simply keep the Bitcoins they mine, typically in a Bitcoin wallet on a PC (hopefully, they don’t forget to make backups of their wallets). Other miners may need to pay off their investment in mining hardware and want to cash out. The way to do that is to sell Bitcoins (or fractional Bitcoins) at one of the Bitcoin exchanges…
Refers to using targets greater than difficulty 1 for pool shares. With the advent of ASIC mining, many hashrates may be sufficiently high that difficulty 1 creates too much traffic for share submissions, and is expected to become necessary in the near future. Concept With rapidly-increasing hashing speeds, miners are rather wasteful in terms of bandwidth. Each…
We have collected four typical scams to remind you that Bitcoin is just cash, and you should take care to use it as real money: Carefully. Most frauds and scams don’t happen because of the technology involved but rather due to the underlying greed and callousness on the part of the users. There is something about Bitcoin that attracts all kinds of scam artists…
At the Black Hat 2014 conference in Las Vegas, Rob Ragan and Oscar Salazar, penetration testers from Bishop Fox, demonstrated a technique for cloud-based bitcoin mining that cost them exactly…nothing. At this moment, one bitcoin is worth $576.57. With a hefty exchange rate like that, bitcoin mining without the need to devote massive computing resources could…
Bitcoin is deflationary, meaning that mined coins are finite. Once miners unearth 21 million coins, that will be the total number of Bitcoins that will ever exist. But due to lost and forgotten wallets, active Bitcoins will be far lower than that. On the 30th March 2015, Bitcoin reached the total circulation amount of 14 million coins. There is now two thirds…
A federal lawsuit filed by investors of a US-based bitcoin mining operation is moving ahead after months of little movement. In mid-2014, investors in Lab Rat Data Processing alleged breach of contract, misrepresentation and fraud against the mining operation and its owner, Zachary Dailey. Bitcoin mining is an energy intensive process by which new transactions…
Courtesy itunes.apple.com Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the…
Bitcoin may be revolutionizing the way we understand money, but it hasn’t made everything obsolete – like books. Books remain a powerful resource for storing and transferring knowledge to the masses, and whether you prefer to consume them on crisp paper pages or through the soft glow of a tablet, we hope you find time to flip through these: . This book is an…
As GPU mining made CPU mining non-profitable, at some point in time more specialized mining hardwares (FPGA and ASIC) would make GPU mining non-profitable. When is GPU mining considered not-profitable? Considering $1 rig, $0.2 per kWh and one year break-even period, at which difficulty does GPU mining become non-profitable? Or, what is the formula to find out…
David Schwartz s answer is entirely accurate, but all that bitspeak might be a little intimidating to the average user. Let me try and put it into more plain language: The way Bitcoin works is that instead of having one central authority who secures and controls the money supply (like most governments do for their national currencies), this work is spread out…
The company, which currently controls 18.6 percent of the Bitcoin network’s hashpower, plans to build a highly efficient and powerful data center to increase its share of Bitcoin’s hashrate distribution and demonstrate the importance of utilizing renewable energy, such as solar energy, to operate its massive data center. “We have seen that most data centers in…
OXBTC ( – a China-based cryptocurrency investment platform lately unveiled its upgraded and expanded farms for Bitcoin/Litecoin/Ether cloud mining, which is about to beat all major miners and become the world’s largest one. Located in 3 different regions in China (Sichuan, Ordos and Inner Mongolia), OXBTC’s mining farms cover a total area of over 200 acres, running…
Carlye Calvin/UCAR According to the March IG report, the unnamed researcher used supercomputers at two different universities — although quite surprisingly — mined only a very small amount of around 12-16 bitcoins valued between $8, and $10, . The researcher said he was just conducting tests on the computers, the report said. The researcher asserted that he…
Many people wished they had not missed the Bitcoin mining bus before the great Bitcoin boom started back in 2013. Back then you could mine Bitcoins pretty easily at home and make a very nice profit on the exchange rate. However since then, the mining difficulty has increased immensely and today it is almost impossible to mine Bitcoin profitably at home with your…
Purpose To promote the free and open development of an FPGA based Bitcoin mining solution. Project Status Project is fully functional and allows mining of Bitcoins both in a Pool and Solo. It also supports Namecoins. Current Performance: 109 MHash/s On a Terasic DE2-115 Development Board Note: The included default configuration file, and source files, are built…
By Dancho Danchev Just as we anticipated in our previous analysis of a commercially available Bitcoin miner, cybercriminals continue “innovating” on this front by releasing more advanced and customizable invisible Bitcoin miners for fellow cybercriminals to take advantage of. In this post, we’ll profile yet another invisible Bitcoin miner, once again available…
Most recently they created the web portal BTC.com which is a block explorer and bitcoin statistics site. Their newest update marks the expansion of their company by acquiring Dutch startup Blocktrail. Blocktrail is a block explorer too with bitcoin wallet software that allows users to send, receive, and store bitcoins. The wallet is designed to be a web wallet…
Right now the entire web is all abuzz about Bitcoin – a digital currency you can use to buy things online, or trade for other currencies like dollars. But Bitcoin is a lot more than that and is actually a very well thought out system. Bitcoin was initially designed as a digital currency (“BTC”) to move outside any central bank, and to avoid the current rules…
Washington D.C., Dec. 1, 2015— The Securities and Exchange Commission today charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. According to the SEC’s complaint filed in federal court in Connecticut, “mining” for Bitcoin or other virtual currencies…
Facebook has new neighbors in Sweden, and they’re building Bitcoin’s version of the Death Star – a 10 megawatt data center filled with high-powered computers mining for cryptocurrency. Bitcoin mining equipment company KnC Miner has begun construction on its new facility in Boden, about 10 miles down the road from Facebook’s server farm in Lulea. The data center…
Bitcoin mining will always be profitable. But, self mining is impossible especially in India. So, the best way to earn is join a cloud mining pool. To know better read below- If Rs 1 would have been invested 5 years back then it would have given the following benefits by October 2016* âś…Nationalised Bank, PF, PPF : Fixed deposit 8-9% /year = Rs. 1680/- âś…Gold rate…
While you won’t get rich running a single Raspberry Pi Bitcoin Rig, you can probably make back your initial investment in this ingenious little machine. RaspPi Bitcoin rigs are nothing new but Dave Conroy has just built one and, more important, shared his plans in a fairly easy-to-read page. The system uses an ARM-centric mining OS called MinePeon. It is basically…
The pace at which Bitcoin ASICs have been developed, for a previously non-existent market, has seen some academic interest. One paper titled Bitcoin and The Age of Bespoke Silicon notes: We examined the Bitcoin hardware movement, which led to the development of customized silicon ASICs without the support of any major company. The users self-organized and self-financed…
