60

Go to http://bitminter.com/test and click the "test start" button. If you have Java installed the miner should launch. Click "engine start" on your GPU(s) to start mining and the GUI will show how many bitcoins per day you will make (on average). Note that you are actively mining in a pool without getting paid. This test page launches a version of the miner ...


54

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 ...


25

EDIT: My original answer may have made sense back when the question was asked, but now it is clear that Butterfly Labs cannot be trusted. As they say, "fool me once, shame on you; fool me twice, shame on me". After all the delays and controversies with their FPGA line, they have given their word that with the experience gained they really will be able to ...


25

TLDR; forget about it. The ASICs are optimized for bitcoin mining. Not just Sha256(Sha256(x)) hashing, but very specifically bitcoin mining. You can't even use them for the Sha256(Sha256(x)) hashing in the rest of the bitcoin system, like hashing transactions. The ASICs are made for hashing 80 bytes, where you give them the midstate from hashing the first ...


25

There's a factor called Difficulty, the more hashing power exists on the network the more difficulty exists, therefore it's harder to mine coins. Right now The difficulty factor would let you recover your money fast because almost no one has ASIC chips, when they ship in bulk the difficulty factor will rise to 30-120 million during the year. To know by how ...


21

Yes, you can use a Bitcoin mining rig to heat your home. Whether or not it's worth doing depends on a number of things, such as: Whether you have a heat pump, or would otherwise install a heat pump (they generally give you 3kW of heat for around 1kW of electricity) Whether of not you have other heating that is more cost effective than electric heating (eg ...


21

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

First a bit of perspective on FPGA mining. ​ Around 2011 some miners started switching from GPUs to FPGAs, (Field Programmable Gate Arrays), after the first implementation of Bitcoin mining came out in Verilog, (a hardware design language that’s used to program FPGAs). The general rationale behind FPGAs is to try to get as close as possible to the ...


15

Summary: different approach to calculations. Nvidia GPUs are more like CPUs, in that they have only a few processors that do work, but faster. ATI GPUs have slower processors, but a lot more of them. You can find a more complete description on the relevant wiki page : Firstly, AMD designs GPUs with many simple ALUs/shaders (VLIW design) that run at a ...


14

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 ...


13

Companies that manufacture mining equipment don't just mine with their own hardware for a variety of reasons: They may not be able to obtain low prices on electricity, making it more profitable for others to mine than for them to mine. They may not be able to make use of the heat generated, making it more profitable for others to mine than for them to mine. ...


13

Not if you don't have one already. The trouble is that you don't know when you'll receive your device and, as @user3418 says, the difficulty will be rising in the meantime. Butterfly Labs (who manufactures the device you're talking about) has only just started delivering devices, and already has a large number of pre-orders. You probably wouldn't receive ...


12

Well, the ASICs machines would probably be more and more refined over the years (like processors), they can get bigger and so forth. So that will probably be the progress for a long while. Asides that, we have the quantum computers that might be the next big leap forward for all fields of computer science, but for now they can only do really small ...


12

It is not guaranteed that purchasing mining equipment will generate in its lifetime more than it cost to purchase. That depends on the future of BTC price and the difficulty, both of which are hard to predict. Those who believe, for whatever reason, that it will indeed be profitable, will purchase devices. But most companies selling mining hardware are in ...


11

There is a nice wiki page here: https://en.bitcoin.it/wiki/Mining_hardware_comparison The raspberry pi is listed by its processor in the arm section: ARM1176JZ(F)-S. It gets 0.2 Mhash/s when clocked at 800 MHz.


11

The very basic idea of an FPGA is that it can be loaded with a specific firmware (a layout of logical gates, in essence). That page contains the firmware you'd need to load onto a Xilinx FPGA (A Spartan 6) in order to use it as a mining device. ZTEX refers to a suite of the FPGA, and various IO controllers (USB, etc.). Roughly speaking, the steps you'd need ...


11

Keep in mind that difficulty also evolves over time: the more hashes the network produces, the higher the difficulty becomes. As of this writing the difficulty is 148,819,199. By my computation, each additional 275GH/s rig that joins the network will increase the difficulty by about 40,000; if 4,000 of them are sold, the difficulty will more than double (...


11

Any CPU can still be used to mine Litecoin, although much less effectively as a modern AMD GPU could. Mining with a CPU gives you very bad hashrate therefore I wouldn't recommend it. Even a high end CPU will not give you the hashrate of a mid range GPU. You should use a graphics card (GPU) to mine litecoins or switch to another coin Additional Information:...


10

If: D is the current difficulty H is your hash rate in Mhash/s B is block reward in BTC Then you can expect to earn: (H*B/D) * (60*60*24 * 65535 * 10^6 / 2^48) = (H*B/D) * (5.662224e15 / 2^48) BTC per day (1) or roughly: (H*B/D) * 20.11626 BTC per day (2) The current block reward B is a little over 12.5 BTC if ...


9

The Raspberry Pi uses the VideoCore IV series of GPU, which to my understanding are either a single or dual core GPU running at or around 700 MHz. Since the primary benefit of GPU mining is that you can run many parallel processes on the hundreds of cores typically found in most GPUs, the single-core nature of the VideoCore GPU undoes most of that benefit. ...


9

Beyond the concerns about BL's ability to deliver, should they be successful it's very questionable what kind of return you'll be able to get as an individual user even with the substantial increases in efficiency they promise. With Bitcoin mining, the number of coins dispensed in a given time period is fixed and self adjusting to the relative strength ...


9

The answer is constantly changing, but this is something you can calculate yourself. Look up the current Bitcoin difficulty value. Right now it is 460,769,358,091. Let's use scientific notation: 4.6e11. The difficulty determines the average number of hashes needed to mine one block. A minimum difficulty of 1 corresponds to 2^32 = 4.3e9 hashes, so we need ...


8

$/Mhash - that's a new one. Well, the metric used elsewhere is Mhash/$ which answers the question how much hashing a dollar's worth of a piece of equipment will produce. So if you really wanted $/Mhash (for referencing cost of certain equipment) then you could invert any Mhash/$ and get $/Mhash. Or, perhaps you are asking how many dollars are earned for ...


8

Regarding quantum computers: If a scalable quantum computer were built, the Bitcoin protocol would become insecure. Bitcoin addresses are derived from the public key in an elliptic curve cryptography system. The whole system depends on the owner keeping his/her secret key indeed secret. Quantum computers could solve efficiently not only the factoring ...


8

ASICminer did decide to keep the hardware and mine. They're selling shares with intent to payout the dividends from whatever profit is made. However, Avalon and BFL didn't choose the same path. As to why, some people believe it's far better to "sell the shovel" than "dig for gold". No one knows what the exchange rate or mining difficulty will be in 3 months ...


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. Bitcoin profitability is about choosing between buying BTC outright (Coinbase, or Bitstamp) or buying hardware ASIC miners and paying the ongoing electrical fees. Edit: To keep mining expenses low, you will need the cheapest form of electricity. This usually means coal in most regions. "Clean coal" doesn't exist. 10 years from now is a long time, ...


8

The part you are missing is that it is a preorder and the current estimate is that if you ordered now, you would likely not receive your mining hardware until April 2014. This site shows a good calculator and I have configured it to show the (lack of) profits you would make if you started mining with this miner starting in April: http://mining....


7

Yes and no. As far as FPGAs are concerned, I see no reason why you should not, technically, be able to handle a getwork on one of these and pass the work units to one or more FPGAs via USB. These units do not, however, have a PCIe slot nor do they have any connectors which, to my knowledge, are capable of connecting to an external PCIe enclosure box, so ...


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