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Bitcoin Mining Machine

Bitcoin Miners Say They Heat Their Houses For Free

Bitcoin Miners Say They Heat Their Houses For Free

It was roughly 30 F outside in Durham, North Carolina, on a recent day in late November, but Rahdi Fakhourys 1650-square-foot house was so warm he left a window open a bit. The heater he was using? Two bitcoin mining machines and two Ethereum mining machines. Fakhoury, 38, is part of a contingent of people who say mining bitcoins at home can be profitable and provide them free heat. As the bitcoin price skyrocketed and hit $11,000 last Wednesday, he woke up in a heated room and found his machines made $60, or 0.0026 bitcoin, while costing just $6 in electricity in a day, according to calculations on whattomine.com . Like gold, the quantity of bitcoins is finite. Out of a planned supply cap of 21 million bitcoins, 16.7 million have been mined as of November 2017. In this digital gold rush, miners no longer need to travel to California or use shovels to dig into the ground. People like Fakhoury can just put printer-shaped ASIC mining machines in their garages or basements and plug them in; codes running on the machines create new bitcoins by solving complex mathematical computations, which also generates a great deal of heat. (Its like how your laptop sometimes overheats, but much more so.) The worlds largest manufacturer of bitcoin mining equipment is Bitmain, based in China. Fakhoury now runs two Bitmain S9 bitcoin mining machines in a five-foot-tall box in his basement,and he plans to add one more when it gets colder. Each machine consumes about 1400 Watts per hour, similar to an average space heater. The average electricity cost in his town is 0.06 per kWh, and last month his electric bill was about $450. Its $250 more than when he used a heater, but he says the expense has been offset by the proceeds from his mining. (Bitcoin miners are rewarded with a small amount Continue reading >>

Bitcoin Mining Machine, Bitcoin Mining Machine Suppliers And Manufacturers At Alibaba.com

Bitcoin Mining Machine, Bitcoin Mining Machine Suppliers And Manufacturers At Alibaba.com

Tags: 2018 Newest And Hottest | Antminer S9 13.5th\/s Bitcoin Miner Bm1387 Asic Chip Mining Machine | With Apw3 + + Power Supply | View larger image Alibaba.com offers 2,430 bitcoin mining machine products. About 40% of these are usb flash drives, 10% are graphics cards, and 8% are motherboards. A wide variety of bitcoin mining machine options are available to you, such as metal, plastic, and steel. You can also choose from usb 2.0, usb 3.1, and usb 3.0. As well as from card, rectangle, and animal. And whether bitcoin mining machine is black, silver, or gray. There are 2,438 bitcoin mining machine suppliers, mainly located in Asia. The top supplying countries are China (Mainland), Austria, and India, which supply 95%, 1%, and 1% of bitcoin mining machinerespectively. Bitcoin mining machineproducts are most popular in North America, South America, and Western Europe. You can ensure product safety by selecting from certified suppliers, including 450 with Other, 91 with ISO9001, and 66 with ISO14001 certification. Haven't found the right supplier yet ? Let matching verified suppliers find you. Get Quotation NowFREE Do you want to show bitcoin mining machine or other products of your own company? Display your Products FREE now! Continue reading >>

Bitcoin Mining - What Is It And Is It Profitable In 2018? A Beginner's Guide

Bitcoin Mining - What Is It And Is It Profitable In 2018? A Beginner's Guide

Last updated on November 24th, 2017 at 08:12 am Before we start, if youre new to Bitcoin mining and dont know what it is watch this short and simple explanation: The short answer would be It depends on how much youre willing to spend. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors mining profitability calculators were invented. These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a short example of how this is calculated lets make sure you are familiar with the different variables: Bitcoin Mining terms you should get to know Hash Rate A Hash is the mathematical problem the miners computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is. The Hash Rate can also refer to your miners performance. Today Bitcoin miners (those super powerful computers talked about in the video) come with different Hash Rates. Miners performance is measured in MH/s (Mega hashper second), GH/s (Giga hash per second), TH/s (Terra hashper second) and even PH/s (Peta hashper second). Bitcoins per Block Each time a mathematical problem is solved, a constant amount of Bitcoins are created.The number ofBitcoinsgenerated per block starts at 50 and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.5. The last block halving occurred on July 2016 and the next one will be in 2020. Bitcoin Difficulty Since the Bitcoin network i Continue reading >>

Explainer: How Bitcoin Mining Works [video]

Explainer: How Bitcoin Mining Works [video]

Kate Middleton Is Always There to Support Prince William's Athletic Pursuits The 2018 Olympic Winter Games may be over, and the Paralympic Winter Games may have also come to a close in PyeongChang, but Prince William and Kate Middleton havent forgotten about their nations sports players, popping by Londons Olympic Park on Thursday. During a visit to a charity called SportsAid that assists young British athletes in ascending to Olympic, Paralympic and other international competitions status, Prince William tried his hand at the game of wheelchair basketball. The Duke of Cambridge was shown the ropes by young rising stars who play wheelchair basketball and even took a few shots at the hoop himself. The School Shooting Generation Has Had Enough The adults know that were cleaning up their mess, says Cameron Kasky, an 11th-grader at Marjory Stoneman Douglas High School, who started the #NeverAgain movement to curb gun violence three weeks earlier in his living room. Kasky and Gonzlez are sitting with two more of the movements leaders, Alex Wind and Jaclyn Corin. Corin throws a crouton into Gonzlezs mouth. Netflix has a new font and the company claims its going to save it millions Streaming giant Netflix has created its own typeface, just like other tech companies have done. Netflix Sans is the name of the bespoke font, while Apple's is called San Francisco, introduced at its developer conference in 2015. Samsung announced SamsungOne in July 2016. Why? Because it will save Netflix marketing dollars, as using fonts often attracts large licensing fees, according to its brand design lead Noah Nathan. "With the global nature of Netflix's business, font licensing can get quite expensive," he told design website It's Nice That on Wednesday. "Developing this typeface not only creat Continue reading >>

Kodak Kashminer: A Bitcoin Miner That You Rent For $3,400

Kodak Kashminer: A Bitcoin Miner That You Rent For $3,400

Kodak KashMiner: A Bitcoin Miner That You Rent for $3,400 It turns out the new KodakCoin isnt the only way Kodak is joining the cryptocurrency craze . Kodak has also created the Kodak KashMiner, a bitcoin mining machine that you rent for $3,400 and share the profits on. Kodak has been showing off the machine this week at CES 2018 in Las Vegas. Heres a photo of Kodaks magic money making machine. pic.twitter.com/wjWeJqMUBF Chris Hoffman (@chrisbhoffman) January 9, 2018 Kodak is also explaining the KashMiner rental program with a black-and-white brochure that starts off with the words: In Math We Trust. Kodak is selling a Bitcoin miner where you pay for a two year contract and make a profit. (*at current prices, Kodak gets half of all bitcoin you produce.) This is the dumbest shit Ive ever seen at CES. pic.twitter.com/rbzECVEMn7 Chris Hoffman (@chrisbhoffman) January 9, 2018 Many commentators are already calling the Kodak KashMiner a scam. Heres how it works: join the program, and youll need to pay $3,400 upfront for the 2-year rental contract. Included in this rental fee is the equipment cost, air freight export license, export customers clearance, US customs clearance, and US customs duties. Over the following two years, 50% of everything mined with the machine goes to a company called Spotlite Energy Systems of California, which is licensing the Kodak brand name through the Kodak Blockchain Project. Spotlite pays for housing, operating, and maintaining the machine you rent programming, maintenance, management, rent, electricity, air conditioning, and repair. The program estimates that itll generate $9,125 a year from its mining if Bitcoin stays at a price of $14,000. Once all the numbers are crunched, the renters 50% cut will result in a total annual return of 134%. Bu Continue reading >>

Inside The World Of Chinese Bitcoin Mining

Inside The World Of Chinese Bitcoin Mining

Inside the world of Chinese bitcoin mining China is one of the main exchange markets and hosts some of the biggest bitcoin 'mining pools' in the world. An employee assembles a calculation board at a bitcoin mine in Sichuan Province, China. Sichuan has become known as the capital of bitcoin mining; with an abundance of hydropower, it can cope with the electricity needs. [EPA/Liu Xingzhe/CHINAFILE] Bitcoin is a virtual currency devised by the mysterious Satoshi Nakamoto as a revolutionary monetary system independent of central banks and governments. The currency is booming as an investment asset and form of payment in China , Japan and South Korea. The value of one bitcoin exceeded $12,000 in January. China is one of the main exchange markets of bitcoin, although the currency exists in a legal limbo and is prone to speculation. The country hosts some of the biggest "mining pools" in the world where clusters of supercomputers mint new bitcoins and maintain the system. Some of these supercomputers are installed in rural places close to power plants. One such area is Sichuan, which has quietly become known as "the capital of bitcoin mining". Entrepreneurial Chinese set up mines in the province due to its abundance of hydropower, perfect for the high energy needs of the computers required for bitcoin mining. Bitcoin mines are buildings equipped with massive numbers of microprocessors where miners solve complex maths problems and are rewarded in the digital currency. They are often built beside hydroelectric plants set up along mountain streams. These plants often produce more energy than they can sell to China's state grid, and some plant owners have found they can either sell the surplus to bitcoin mines or set up their own mines. The industry operates in a legal grey area Continue reading >>

How To Mine Bitcoins: 8 Steps (with Pictures) - Wikihow

How To Mine Bitcoins: 8 Steps (with Pictures) - Wikihow

So you've heard of Bitcoin, and you're ready to get your hands on some digital wealth. You can buy and trade for bitcoins, or you can "mine" for them. Mining for bitcoins is actually the process of verifying other bitcoin transactions, which users are rewarded for. This is the central mechanic behind the bitcoin economy, and mining is used to keep transactions secure and reliable. This guide will explain how to mine bitcoins and potentially earn a fair amount of money. Purchase custom mining hardware. When Bitcoin first started, it was possible to mine using only your desktop's CPU and GPU. While this is still possible, the returns make running this method impractical. You will be spending far more on electricity than you will earn mining coins. Instead, custom hardware allows for much better processing for about the same power draw. Custom hardware comes in the form of cards that are inserted into the computer much the same way that a graphics card would be . Popular Bitcoin-mining hardware brands include Butterfly Labs, Bitcoin Ultra, CoinTerra, and more. A dedicated Bitcoin mining machine can cost anywhere from a few hundred dollars to tens of thousands depending on the number of operations it can complete per second. Obtain a bitcoin wallet. Bitcoins are stored in digital wallets that are encrypted to protect your money. These wallets can be either locally or online . While online services that host your wallet won't be able to access it, they are considered less secure as your money could potentially be lost if something catastrophic happens on their end. Most established bitcoin users recommend using a local wallet for security reasons. Local wallets typically require verifying the entire blockchain, which is the history of all bitcoin transactions. Hosting a blo Continue reading >>

6 Best Bitcoin Mining Hardware Asics Comparison In 2017

6 Best Bitcoin Mining Hardware Asics Comparison In 2017

The best Bitcoin mining hardware has evolved dramatically since 2009 At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 to 100 times faster and consumed much less power per unit of work. During the winter of 2011, a new industry sprang up with custom equipment that pushed the performance standards even higher. The first wave of these specialty bitcoin mining devices were easy to use Bitcoin miners were based on field-programmable gate array (FPGA) processors and attached to computers using a convenient USB connection. FPGA miners used much less power than CPU's or GPU's and made concentrated mining farms possible for the first time. Today's modern and best bitcoin mining hardware Application-specific integrated circuit (ASIC) miners have taken over completely. These ASIC machines mine at unprecedented speeds while consuming much less power than FPGA or GPU mining rigs. Several reputable companies have established themselves with excellent products. Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are: For a comprehensive comparison of bitcoin mining hardware. Two major factors go into determining the best bitcoin mining hardware: (1) cost and (2) electricity efficiency. Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot. Application-specific integrated circuit chips (ASICs) are bitcoin mining hardware created solely to solve Bitcoin blocks. They have only minimal requirements for other normal computer applications. Conseq Continue reading >>

How Bitcoin Mining Works - The Economist Explains

How Bitcoin Mining Works - The Economist Explains

AS THE bitcoin price continues to fall, sceptics have started to wonder what will happen to the industry underpinning this digital “crypto-currency” . Around the world, hundreds of thousands of specialised computers have been built to create (or “mine”) bitcoins and, in the process, validate transactions and protect the system. How does bitcoin mining work? The aim of bitcoin—as envisaged by Satoshi Nakamoto, its elusive creator—is to provide a way to exchange tokens of value online without having to rely on centralised intermediaries, such as banks. Instead the necessary record-keeping is decentralised into a “blockchain”, an ever-expanding ledger that holds the transaction history of all bitcoins in circulation, and lives on the thousands of machines on the bitcoin network. But if there is no central authority, who decides which transactions are valid and should be added to the blockchain? And how is it possible to ensure that the system cannot be gamed, for example by spending the same bitcoin twice? The answer is mining. Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. The first miner to find the solution announces it to others on the network. The other miners then check whether the sender of the funds has the right to spend the money, and whether the solution to the puzzle is correct. If enough of them grant their approval, the block is cryptographically added to the ledger and the miners move on to the next set of transactions (hence the term “blockchain”). The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger. All this gives miners an incentive to participate in the syste Continue reading >>

How To Mine Bitcoin And Other Cryptocurrencies

How To Mine Bitcoin And Other Cryptocurrencies

How to mine bitcoin and other cryptocurrencies How to mine bitcoin and other cryptocurrencies Mining is the process of using a computer to perform complex calculations on blocks of data which maintain the Bitcoin network. Miners are rewarded for their efforts with a certain amount of Bitcoin cryptocurrencies. Bitcoin (BTC) is fast becoming the province of people using specialized ASIC (application-specific integrated circuit) devices, although if you have one or more powerful graphics cards you may still be able to generate a small profit by assembling your own mining device. You'll learn more about this in the following steps. The actual profit you make will depend on a number of factors. The first is your 'hash rate' in other words, the actual processing power of your machine. Computers designed for mining, or 'rigs' as they're commonly known, require large amounts of electricity, which will increase running costs. The complexity of mining also rises over time. This is what you need to do if you want to mine Ethereum instead The Bitcoin itself is a very volatile virtual currency and while it has recently made huge gains, it may also plummet in value. Bear this in mind if you plan to hold onto any BTC you mine rather than selling immediately. If you want a rough idea of how much you can make from mining, use one of the many online profitability calculators (for example, the one at 99 Bitcoins ). While you can technically try to mine Bitcoin on your own, it's very unlikely that your rig will singlehandedly solve the complex sums necessary to receive a reward. Instead, you'll need to join a mining pool. As the name suggests, this is a pool of multiple machines connected together, engaged in a collaborative mining effort. The Bitcoin rewards reaped are shared amongst eve Continue reading >>

5 Upcoming Bitcoin Mining Machines You Can Buy

5 Upcoming Bitcoin Mining Machines You Can Buy

5 Upcoming Bitcoin Mining Machines You Can Buy Weve talked about Bitcoins before, and even put together a list of 20 places where you can spend them . But a list of places to spend Bitcoins isnt of much use if you dont have any Bitcoins. Sure, you could go to a Bitcoin exchange such as Mt.Gox and exchange your money for Bitcoins, but theres always security risks involved in doing so. If you decide to mine Bitcoins yourself, itd probably take you forever just to mine one Bitcoin using an everyday computer rig. So, whats a budding Bitcoin enthusiast to do? Well, if youre serious about getting into Bitcoin, and dont want to deal with the potential dangers of online Bitcoin exchanges, then theres only one thing left to do: invest in a Bitcoin mining machine. These are purpose-built computers where the one and only aim is to mine as many Bitcoins as possible, as quickly as possible. Recommended Reading: 10 Things You Need To Know About Bitcoins There are three machine models in the Fast-Hash One series of Bitcoin mining machines: the Silver Edition, the Gold Edition and the Platinum Edition. These are 19 rack mountable Bitcoin machines, with the main differences being their expandability and the power of the included mining modules. All three machines come with one mining module, but can be upgraded to have six. The Silver Edition is powered by a 64 GH/s module and tops out at 384 GH/s. The Gold Edition is powered by a 128GH/s module, with a maximum hash rate of 768GH/s. The Platinum Edition comes with the most powerful 256 GH/s module, and can go up to 1.536TH/s. Overall, when fully upgraded, these machines will mine anywhere from 0.2 up to 0.85 Bitcoins a day. While the Silver Edition does not support expansion cases, both the Gold and Platinum Editions support up to six Continue reading >>

Asic Miners ,fastest Coin Miners ,gpu Miners

Asic Miners ,fastest Coin Miners ,gpu Miners

Welcome to Asic Miner Market, the most advanced cryptocurrency mining, hash hardware service. We sell Asic GPU, Coin, Hash, ASIC Mininghardware, and solutions.Why bother with risky mining contracts or renting when you can buy hashing power directly? Asic Miner Market brings more sense to the market. Continue reading >>

Bad News For Bitcoin Miners: It's No Longer Profitable To Create The Cryptocurrency, By Some Estimates

Bad News For Bitcoin Miners: It's No Longer Profitable To Create The Cryptocurrency, By Some Estimates

Bitcoin has dropped to a point where it's not that profitable to produce, according to some estimates. "Bitcoin currently trades essentially at the break-even cost of mining a bitcoin, currently at $8,038 based on a mining model developed by our data science team," Fundstrat's Thomas Lee said in a report Thursday. Fundstrat's model incorporates three factors: the cost of equipment, electricity and other overhead such as maintaining cooling facilities. The cryptocurrency traded mildly lower, near $8,000, Thursday, according to CoinDesk's bitcoin price index, which tracks prices from four major global exchanges. Earlier, bitcoin hit a low of $7,676.52, its lowest since Feb. 8, according to CoinDesk data. Bitcoin is created through an energy-intensive "mining" process that uses high computing power to solve a complex mathematical equation, proving an anonymous miner used the process the network agreed upon to build the blockchain record of transactions. Miners then get bitcoin in reward for successfully completing the equation. If the cost to create bitcoin exceeds the reward, miners theoretically lose incentive. "In some cases the miners may simply turn off the machines until the price comes back a bit," said Shone Anstey, co-founder and president of Blockchain Intelligence Group. "It's got to be getting to the point that some of them may be losing money." Bitcoin mining today requires custom hardware that can cost several hundred to a few thousand dollars. And like much technology, more efficient equipment is always coming out. In fact, the need to regularly replace equipment accounts for more than half the cost of mining, according to Fundstrat's model, said Sam Doctor, head of quantitative data science. He assumes electricity costs of 6 cents per kilowatt hour and oth Continue reading >>

Eighteen Bitcoin Mining Machines Stolen From A Property In Derbyshire

Eighteen Bitcoin Mining Machines Stolen From A Property In Derbyshire

Eighteen bitcoin mining machines stolen from a property in Derbyshire Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018 Reuters Eighteen bitcoin mining machines have been stolen from a property in Derbyshire. TheAntminerS9'swere taken fromWest BarsHouse in Chesterfield. Among the most powerful on the market and an online search byThe Independentfound the cheapest price for thismodel was more than 1,200. Bitcoin and rival cryptocurrencies all lose value as Google bans ads Derbyshire Constabularyappealed to anyone who was in the West Bars area, who may have seen people loading items into a vehicle. Bitcoin is an entirely virtual currency that works without the need for a central bank.It can be sent over the internet. Coins are transferred directly from person to personand are kept in a digital wallet that can be accessed on a computer or mobile device. They can be transferred using currency exchanges. Creating new coins is done through a process called "mining" where users are rewarded with new coins for verifying transactions that take place. Bitcoin has its own value and is not tied to any physical currency. The value of bitcoin skyrocketed in late 2017 and its rapid rise generated huge amounts of interest in it and the 1,567 other varieties of cryptocurrency available online. Russian police carrying struggling opposition leader Alexei Navalny at a demonstration against President Vladimir Putin in Moscow. Thousands of demonstrators denouncing Putin's upcoming inauguration into a fourth term gathered in the capital's Pushkin Square. Chinese President Xi Jinping speaks at an event to mark Karl Marxs 200th birthday at the Great Hall of the People in Beijing. Presiden Continue reading >>

Bitcoin Mining Definition | Investopedia

Bitcoin Mining Definition | Investopedia

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, whichincentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. (Related: How Does Bitcoin Mining Work? ) The amount of new bitcoin released with each mined block is called the block reward. The block reward is halved every 210,000 blocks, or roughly every 4 years. The block reward started at 50 in 2009, is now 25 in 2014, and will continue to decrease. This diminishing block reward will result in a total release of bitcoin that approaches 21 million. How hard are the puzzles involved in mining? Well, that depends on how much effort is being put into mining across the network. The difficulty of the mining can be adjusted, and is adjusted by the protocol every 2016 blocks, or roughly every 2 weeks. The difficulty adjusts itself with the aim of keeping the rate of block discovery constant. Thus if more computational power is employed in mining, then the difficulty will adjust upwards to make mining harder. And if computational power is taken off of the network, the opposite happens. The difficulty adjusts downward to make mining easier. In the earliest days of Bitcoin, mining was done with CPUs from normal desktop computers. Graphics cards, or graphics processing units (GPUs), are Continue reading >>

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