Proof of work Cryptographer Adam Back realized in 1997 that it was possible to use hash functions to prove that you did a certain amount of computational work. His discovery took advantage of the special property of strong cryptographic hashes where each hash looks like random data regardless of what input was used to create it. For example, the main hash in…
Some Bitcoin users might wonder why there is a huge disparity between the mining output of a CPU versus a GPU. First, just to clarify, the CPU, or central processing unit , is the part of the computer that performs the will of the software loaded on the computer. It s the main executive for the entire machine. It is the master that tells all the parts of the…
You definitely need custom built hardware for bitcoin mining. Since mining involves huge calculation of verifying SHA-256 encryption codes, regular CPU won t cut it. So you need custom built ASIC s which comprises of GPU s that can perform those computationally intensive calculations. Second of all, mining sure does push those computers to their limits. Not only…
An R&D division of mining giant Bitmain has launched a new pool. Having mined its first block as part of a closed beta three months ago, BitmainTech Israel Ltd is now opening its ConnectBTC pool to global bitcoin miners, inviting them to run the software as a way to combine resources with other miners and better compete for bitcoin s rewards. ConnectBTC…
Recently, the GHash mining pool breached Bitcoin etiquette to become a 55% miner for Bitcoin . This collapsed the key value proposition of Bitcoin, namely, its decentralization. In turn, there has been considerable criticism and backlash. Many people in the community, including us, have noted that etiquette or the good will of miners are not sufficient to keep…
The digital currency Bitcoin is having a bit of a moment, which is drawing the attention of cybercriminals. They don’t want to steal your money (though there is some of that too). Instead they want to hijack the processing power of your computer to create more bitcoins out of thin air. There is no company, central bank, or government behind Bitcoin—there is only…
If you’re interested in technological, financial or social innovation, you’ve probably heard of Bitcoin. It’s a virtual currency used by people around the world to make purchases online, or in person using a mobile app. As more merchants accept the currency — and more companies pitch Bitcoin investments — more people are curious about how it works. Unlike dollars…
From trying to design my own ASIC-I got as far as having a simulated but not completely debugged Verilog implementation-I can tell you how mine would have worked. Whilst I have not checked, the design choices seem so obvious to me that I doubt anyone would do it differently. The inner loop of the mining process is a double SHA-256 hash of data where only one…
The maker of ad-blocking browser Brave, which plans to give users the option to view ads in exchange for micropayments in bitcoin, has responded to a cease-and-desist letter it received today from members of a major newspaper trade group. Seventeen members of the Newspaper Association of America (NAA), including The New York Times , The Washington Post , and…
One ambitious bitcoin company is seeking to make mining a hobbyist activity again. China-based Bitmain let slip today it will soon release its latest bitcoin mining rig, the R4, which it believes will be powerful enough to bring mining back home . Representatives for Bitmain said in an email to CoinDesk that the R4 is the second most powerful bitcoin miner…
This is a basic dashboard application (see screenshot) I wrote for a friend of mine. It s intended for use with Slush s BitcoinCZ Mining Website at https://mining.bitcoin.cz. You must have your API Key in order to use it. I recommend copy and pasting it, because it s easier.. open the bitcoin.cz webpage and copy the api key and then launch this app. It shows…
So while KNC just dropped news about the fastest scrypt miners goign out within a week – 300mhs Titans we will speak about KNC Neptunes – the faster sha256 miner on the planet for now. Batch2 just dropped few weeks ago yet seems some peopel had unusual issues. Ive reached them and compiled this article with full KNC Neptune Troubleshooting. KNC Neptune 3th Miner…
Rather than working towards a centralized mining solution, I think we should focus our early efforts on a decentralized solution: p2pool. Zcashd, p2pool, and a standalone miner will all run on the same machine (no third party server needed). Not only does this prevent centralization of mining, but every miner will also be a full node. To achieve this we need…
The reward for mining Bitcoin is expected to see the second halving in its history later this year, potentially in June or July. Bitcoin, a deflationary store of value as opposed to reserve currencies and fiat-money, has had its total supply limited to 21 million bitcoins since the original code released by Satoshi Nakamoto in 2008. Unlike fiat currencies that…
The week after bitcoin mining reward halving, ForkLog decided to compile a short overview on the history of mining methods. Generally speaking, bitcoin mining is a process of cryptographic calculations. As we know, bitcoins are mined in blocks, and the more there are generated coins altogether, the smaller is the block size. Initially, a block was just 50 BTC…
Ethereum’s developers set course for mining-free model Blockchain seen as potential backbone for business, finance Marco Streng’s computer servers are what make Ethereum tick. Thousands strong, they whir day and night, solving the complex math riddles that are essential to verifying transactions on the hottest new platform in the world of cryptocurrencies and…
As per the market conditions you may earn 8–10% (per month) of your investments. But, I would not suggest you investing your hard earned money into bitcoin mining. Instead, you can go for mining of alt-coins such as Litecoin, Dogecoin, Dashcoin etc. Now, There must be a reason behind my suggestion. Right? Below I m outlining some of the reasons of why you should…
Throughout the history of bitcoin, there have been numerous cloud mining scams. That is anything but surprising, considering a lot of cryptocurrency holders are looking to increase their bitcoin holdings by putting in as little effort as possible. Unfortunately, this also means quite a few people lost money by investing in bitcoin cloud mining scams, including…
A new mining pool, called GBMiners, has emerged with nearly 5 percent of the Bitcoin network’s hashpower. It is the largest mining pool outside of China and the first to be based in India. India, which represents the world’s biggest remittance market with over $69.97 bln worth of payments received in 2013, is considered one of the fastest growing Bitcoin markets…
This is really depends on your current economic situation, and how much electricity is in your area. I have been mining for 3 years plus now, up to almost 800TH (800, GH/S). My advice start NOW, if you are going to do it. Buy a Antminer S9, NEW or USED on Amazon as you get great buyer protection. If you own your home, install a Power Saving device like KillaWattBox™…
Photo: Unicorn of Monoceros © Christian Riese Lassen; 731 Joel Flickinger’s two-bedroom home in the hills above Oakland, Calif., hums with custom-built computing gear. Just inside the front door, in a room anyone else might use as a den, he’s placed a desk next to a fireplace that supports a massive monitor, with cables snaking right and left toward two computers…
HaoBTC, one of the biggest miners with around 110 Petahash, controlling slightly more than 4% of bitcoin’s network, has launched a new hashrate exchange where you can buy or sell part of Bitcoin’s mining network with a minimum purchase of 1 Terahash. According to Xiong “Tyler” Yue, Vice President of HaoBTC, they have already sold 10 Petahash in just five days…
For anybody that hasn’t already been acquainted with Bitcoin, it certainly is a little overwhelming in the beginning. Many companies that are trying to make a stand in the blockchain space have taken note of this and are trying to build on the user experience side to get more and more people into using Bitcoin, not just mine them leading most unsuspecting customers…
It just became significantly harder to mine Bitcoins. The halving event rolled around yesterday, July 9, and means that the reward for mining just dropped by 50 percent. The cryptocurrency is generated by machines around the world mining for new bitcoins. Rewards of bitcoins are handed out for giving over computing power to process bitcoin transactions. It…
If your aim is to make money and it somehow relates to Bitcoin, mining it yourself is not a good investment. Attempting Bitcoin mining with that computer, using CPU s, would not be effective, at all. There is an inherent software issue that was built into Bitcoin production. Once a certain number of block chains have been figured out, the difficulty increases…
This is the first open source FPGA Bitcoin miner. It was released on May 20, 2011. Software needed Currently programming and running the FPGAminer code requires Quartus II for Altera devices and Xilinx ISE Webpack for Xilinx devices. Quartus is 32bit only. The free ISE Webpack does not work on devices larger then Spartan6 LX75. Altera The compile the code on…
Could this Midwestern data center become the largest Bitcoin mine in the world? The grocery store at an intersection near the high school in my hometown of Bettendorf, Iowa was vacated after the company filed bankruptcy in 2, and shortly thereafter faded into a run-down meeting place for teens to smoke pot and skateboard. When I came back to visit recently, I…
