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58

Generally, it's not worth your time and effort to mine at home! (Some exceptions may apply.) Age of ASIC mining CPU mining has been unprofitable since 2011, GPU mining just slightly later. Today, ASICs rule mining. The Bitcoin network has more than 1.7 Ehash/s (Oct 2016) now which is 1,700,000,000,000 Mhash/s. Your graphics card will be running full ...


26

A typical USB block erupter will get 333MH/s under realistic conditions. Today, a share is worth about 1/156 of a penny and 333MH/s will get you a share every 13 seconds. That comes out to 43 cents per day per erupter, not counting the cost of electricity. Difficulty is going up, and thus profitability going down, around 25% per month. So you can figure ...


22

It means that there will be no significant speedup by implementing the algorithm in an ASIC, as compared to a CPU based implementation. This is usually achieved by requiring a lot of memory, which when implementing this on an ASIC, translates to needing lots of physical area on the chip. ASIC implementations derive their power from having many physically ...


21

Introduction AsicBoost speeds up Bitcoin mining in general (for ASICs and CPUs alike) by reducing the frequency of computing one part of the SHA-256 calculation. A Bitcoin block header is 80 bytes long. It fits in 2 blocks for SHA-256 hashing. It gets hashed into a 32-byte value, then hashed again (1 block) to get the final value that is compared to the ...


16

I think the simple answer is that a company doesn't have to be a "Bitcoin believer" in order to manufacture Bitcoin mining hardware. The companies that produce ASIC chips also produce other products for other industries. They are perfectly profitable just selling their chips to mining equipment manufactures, and probably don't feel the need to enter the ...


15

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 ...


15

An ASIC is another way of running a program or calculation or what have you (in our case mining) using a PCB/Hardware instead of Software running on a general purpose computer. GPUs are technically ASICs, their application being graphics processing and output. ASIC resistance means your crypto is more fairly distributed because their is no centralization ...


11

ASIC or Application-specific integrated circuit is a type of circuit that has become very popular in the Bitcoin mining community. wikipedia defines it as "An application-specific integrated circuit, or ASIC /ˈeɪsɪk/, is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use." Traditionally computer ...


10

Disclaimer: At the time of this writing, I am a shareholder with ASICMiner. Also be aware that the Bitcoin stock market is, like Bitcoin, very immature and not regulated. The risks involved are far greater than for a traditional stock market. Like @Steven Roose just wrote, you can buy Pass-Through (PT) shares through two separate stock exchanges, BTC-TC ...


9

Similarly, what's the incentive for millers to sell flour? They could just keep the flour, bake bread, and sell the bread themselves. Or why does the farmer sell wheat to the mill? He could just mill it himself, bake bread, and sell that! The answer is that different people have different abilities and specialities. The ASIC manufacturers are good at ...


9

There's 2 versions of ASICBOOST: Overt where miners use bits in the version number as extra nonce space Covert where miners "mine" merkle trees with 4 bytes collisions The overt version is very easily detectable, whereas the covert one isn't. To mine these merkle trees for the overt version, miners need to shuffle the transactions in the block. Without ...


8

I think you misunderstand the problem. The reason mining is becoming impractical is because there's too much of it. It's like a restaurant that's too crowded. It means you can't get a table, but the restaurant is not going to go out of business.


8

TL;DR: ASIC input/output is the bold text below. No, the ASIC does not assemble a block. The block is assembled by a mining pool server. If you are solo mining you could let bitcoind assemble the block but you'd still need mining pool or proxy software in between to make a modern ASIC machine (stratum only) and bitcoind (getblocktemplate only) communicate. ...


7

For anyone coming across this and wondering if USB miners are still profitable. Try this site. But short answer is not anymore. Bitcoin mining has become a big game for big players. Rather invest in big group buys, or convert to scrypt. Scrypt mining is mining alt-coins (Litecoin, Feathercoin, WorldCoin, etc). You cant scrypt mine with the Bitcoin Asic ...


7

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7

Litecoin uses a different proof of work than Bitcoin, so that hardware won't be compatible(it won't be solving the right problems). One of the motivations of Litecoin was to make CPU mining viable by making it difficult to create efficient GPU/FPGA/ASIC miners, so it's unlikely that you can find specialized hardware for this purpose. I think that some GPUs ...


7

No, you can't. And this has nothing to do with the operating system. Your hardware has a bitcoin ASIC chip made only for doing Sha-256 calculations. Litecoin uses the Scrypt algorithm. Sha-256 and Scrypt are not the same, so what you are suggesting is impossible. You can mine other Sha-256 coins instead of Bitcoin.


6

You can't build ASIC hardware yourself. It costs hundreds of thousands of dollars to develop an ASIC and, by definition, you can't buy them off the shelf. (The "AS" stands for "Application Specific", that is, it must be designed for a particular purpose.)


6

http://arstechnica.com/gadgets/2013/06/how-a-total-n00b-mined-700-in-bitcoins/3/ In fact, if it's so profitable, why on earth is Butterfly Labs selling these devices? Why not rent a warehouse, fill it with miners, and make infinity bitcoins? The answer is two-fold. First, BFL required a great deal of capital in order to design and manufacture the ASICs that ...


6

Yes, there are designs for Litecoin mining FPGA bitstreams, but they are not very efficient currently. ASICs are much more efficient and if anyone finds it lucrative to invest in development of Litecoin mining ASICs, they will push out GPU mining. (The efficiency ratio between ASIC and GPU will be lower than with Bitcoin though).


6

No. ASIC designs are all proprietary. This is controlled to the point where gaining information about the use for packaged chips is subject to a highly restrictive NDA. Some optimizations in use are non-public, and at any rate nobody is going to give away millions or tens of millions of dollars worth of NRE cost to their competitors. It seems unlikely that ...


6

That particular miner is way overpriced. Nobody should buy it at that price. The seller either listed an incorrect price, or is very confused about the current market for mining hardware, or is hoping to find a customer who is a sucker. For comparison, the Antminer S5+ has a (claimed) hash rate about 7x higher and costs about 1/4 as much, making it about ...


6

From the research I have done to understand the minimum difficulty it boils down to a balance between server/client bandwidth limitations and time to put at risk. The pool which you connect to distributes work for miners to solve. The more difficult each "package" of work sent to you, the longer you will take to find a solution and reply back to the pool ...


5

Try this site for schematics: https://github.com/BitSyncom/avalon-ref If you know the answer, don't be a jerk. Just answer the question. It helps to have answers/discussions for the same issue in many different places. This is one of the first pages that comes up when you search "asic schematics"


5

No, Bitcoin ASICs can not be reused for any other purpose, unless something were created that uses the exact same hashing technique. Unlike what some ill-informed radio talk show hosts say, the mining network is cryptographically incompatible with SHA256 password cracking, the block chain itself is not a conspiracy by the Russians as a rainbow table. ...


5

Any mining device can be used without alteration for mining a specific alt-chain, as long as the chain's proof of work is the same (double-SHA), and the size, encoding and position of the timestamp and nonce fields is the same in a block. The latter ensures that devices that increment those fields internally would not be altering other parts of the block ...


5

Mining was never supposed to be profitable. And it's a derivative of bitcoin which is already risky speculation. Don't add the extra, annoying risk-without-an-upside of wondering whether BFL will ship your machine in time to turn a profit. Even they state that there's no guarantee that their machines are profitable. If you are sure that the price of ...


5

The term ASIC is not associated with software but hardware. It means Application-specific integrated circuit and we should call it processor. For comparison with FPGAs, see for example Xilinx's site. Typically you need some mining software like cgminer or bfgminer. With these software you should use various types of "processors" to mine with. The most ...


5

Nope, ASIC implies a physically designed chip only meant for doing 1 thing. And bitcoin ASICs are only capable of SHA hashing while litecoin demands scrypt hashing.


5

I'm reproducing figures 2 and 3 from the paper below to provide an alternative interpretation. Fig 2: Fig 3: Historically, mining is composed of an inner loop (red) and an outer loop (green). Each run through the inner loop, the nonce is incremented. This affects only Chunk 2 and causes all of the blocks in red to be re-evaluated. You can only do this 4 ...


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