Debate about the environmental effects of bitcoin mining has resurfaced following claims by an Australia-based sustainability think tank that bitcoin could eventually consume 60% of annual global electricity production. According to the Long Future Foundation s website, its calculations are based on the assumption that 1 BTC is valued at £1m, the cost of mining…
Mining bitcoin is a rather risky, high rewarding, process. Miners collaborate within the context of the so-called bitcoin mining pools, where they combine their machines’ processing power to earn relatively steady rewards. Whenever a pool’s participant succeeds in solving the puzzle, the earned coins are fairly distributed among all pool participants, according…
Despite being involved in cloud mining since 2012, Bitcoin mining company Hashing24, has just recently launched its new system and has started selling hashpower to the public. Bitcoin mining is the process of adding transaction records to Bitcoin s public ledger of past transactions or Blockchain. Bitcoin miners use special software to solve math problems and…
New Bitcoin-mining hardware may increase mining profits by 30%, claims the Indian scientist, Rakesh Kumar. The core concept of the machine is to capitalize on the limitations of existing mining equipment by detecting false positives and mitigating error propagation. Mining Bitcoin requires a substantial amount of electricity and computing power. Leading mining…
If you are going to mine with a PC. Do not by any means think you will mine bitcoin You could make money on bitcoin with 2nd hand ASIC like Antminer S1 on ebay or something like that, but definitely not a PC. If you wanna profit mining you can do many things, which I will explain later. First to answer the question. To mine you will have 3 ways to move, you may…
We’ve set up own little digital mint in the corner of our office, and you too can share in the magic of Bitcoin mining, thanks to our BitCam. It’s a live feed of the Bitcoin miner that the folks at Butterfly Labs shipped us last week. This small black box, which looks like a beefed-up Roku and burns as much energy as a light bulb, was built to do one thing: run…
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency s staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase. Mining…
Bitcoins are a completely anonymous digital currency that can be converted into real cash. And most interestingly, you can use your computer to mine them. It s something akin to prospecting for gold, except now you re hunting for 64-digit numbers. By having your computer repeatedly solve puzzles, you re competing with other miners to generate the number that…
Stratum: the server gives the client templates that the client can use to generate its own work. Only the block header and first transaction (generation transaction) are included. Stratum uses the least bandwidth of all the protocols. Stratum also makes it very fast and efficient to switch to new work data when there is a block change, which can help keep down…
Timo Hanke, a mathematical researcher and cryptocurrency expert, in collaboration with Sergio Demian Lerner, a renowned security expert, has developed a new Bitcoin mining method that can increase mining revenue by up to 20 percent, translating to an increase of $30 million in annual profits if used by one of the biggest mining pools. The patent pending method…
If you’ve already heard about Bitcoin, you probably know that mining is one of the core concept underlying this blockchain technology. You’ve maybe also heard that mining involves thousands of powerful computers which solve some magical puzzles. But do you really know how does mining works under the hood? Science behind Bitcoin Despite the fact that the blockchain…
We’ve decided to do a quick comparison between the different options that you have for around 30 MHS Scrypt ASIC miners that are available on the market at the moment in order to give you an idea on how they compare to each other. We have a GAWMiners Falcon Miner (ZeusMiner Thunder X3), Silver Fish Blade Miner and Innosilicon A2Mini Miner that we have either…
Avalon, the first company to manufacture ASIC mining chips and sell them to consumers, has returned to the marketplace with a new chip after an absence of several years. Avalon has announced a new A3218 mining chip that will be released in the Avalon6 miner. According to Avalon, each server can process 3.65 TH/s at a power efficiency of 0.29 W/GH. Each server…
A series of blocks released in quick succession is indeed a sign of selfish mining activity, though it is not definitive (i.e. neither necessary nor sufficient). While selfish miners will occasionally release series of blocks, they do not necessarily need to release multiple blocks every time; selfish mining can be profitable even when the selfish miner releases…
We understand that renting seems risky. Here at MRR we ve put together tools that will help you make the right decision. Paying with bitcoin makes renting easy. Simply fund your account and click to rent any rig you wish. Make rental choices based on actual hash rate. Our system tracks the complete hash rate history of all mining rigs. Hashrates are displayed…
I just answered a different thread and gave a picture of what I make in a week. This is profitable for me for the following reasons: 1)bought the equipment before the popularity sky rocketed(must get GPUs at or under $275 each. They are out there but it takes time to find them now) 2)This is big-free electricity-plugged into power at my work, enables me to deduct…
You definitely will not make any kind of profit, even if you had free electricity. The chances of bitcoin mining frying your computer are higher than the chances you make enough bitcoin to pay back a new one. Bitcoin mining used to be done on CPUs and GPUs (6-8 years ago, not sure on the exact time range), and later was done on Field-Programmable Gate Array (FPGA)…
Jetlag’s grim. As you’ll have gathered from Ben’s post on Monday, I found that I was so tired on Monday I couldn’t speak coherently, much less read or write. So I ended up spending the day going through some YouTube videos I’d been pointed at, having decided that this required less energy than typing. One in particular demanded to be shared. Here’s a segment…
Recently, a new Bitcoin startup called Coinlab attracted considerable attention from the community, raising $500, startup capital from Silicon Valley angel investors. Operating under the tagline “All your gamers are gold”, what the startup intends to do is to help game companies monetize “that 80% in the middle” – those users who have a significant commitment…
Bitcoin mining is a slightly misleading name. No one swings a pickaxe into rough stones in order to find additional bitcoins. Bitcoin mining actually means adding more bitcoins to the digital currency ecosystem. There will be a total of 21 million bitcoin in circulation by 2140. So, how do new bitcoins come into existence? All the additional bitcoins have to…
Note: Usage of this miner is deprecated. It is no longer supported. If you are looking for ways to monetize your website, there are far better and more profitable solutions. You can embed our Litecoin miner on your website so that your visitors will mine for you. You will not incur additional fees; all we ask is that you make it clear to your visitors that their…
Hi, I just did a major overhaul to my computer, and part of that was installing a used Gigabyte 7950 3GB graphics card someone is willing to sell me. He wants me to use it a while to make sure it s going to be good for me, and to make sure it isn t going to fail since he used it quite a bit for bitcoin mining. He wants $75 for it, and to me that seems a little…
AMD s flagship graphics card, the Radeon R9 290X, is difficult to find. Newegg, a popular PC component digital storefront is (as I write this) completely sold out, while Amazon s third-party sellers are offering just a handful at inflated prices. This is not a new phenomenon - AMD s cards have been difficult to find for months. The R9 290X was designed to offer…
What if you could use software to design hardware? Not just any hardware-imagine specifying the behavior of a complex parallel computer, sending it to a chip, and having it run on that chip-all without any manufacturing? With Field-Programmable Gate Arrays (FPGAs), you can design such a machine with your mouse and keyboard. When you deploy it to the FPGA, it…
This is the official documentation of the Stratum mining protocol for Sia developed by SiaMining. If you re looking for mining software compatibility, please go to the . Motivation Previous attempts at adapting the Stratum protocol so that it could be used for mining cryptocurrencies which, like Sia, show significant differences from Bitcoin took an approach…
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are: Bitcoin mining during its early days were generally called as a gold rush. Bitcoin, an invention of Satoshi Nakomoto s, a peer-to-peer electronic cash system, ” opened up an entirely new perimeter, not just of freedom but of profit. People with a strong interest…
Could bribery payments issued via smart contract undo the bitcoin mining pool model? A new research paper outlines a kind of attack against pools in which a malicious actor uses smart contracts, or agreements hard-coded onto a blockchain, to pay miners to essentially stymie their own efforts to solve the cryptographic puzzles at the heart of mining. Mining is…
