Tuesday, April 30, 2013

Insanely Cool: Bitcoin mining involves creating Frankenstein-like computers

You’ve probably heard of gold mining before and the conventional method of digging some sort of hole or tunnel in the ground and hunting for precious minerals?

These savvy individuals have created computer monstrosity devices, specifically designed to mine Bitcoins on the internet. Bitcoins are an untraceable virtual currency that have grown in popularity on the more shady side of the internet.

Bitcoins are protected by complex mathematical problems that help maintain the network’s public transaction’s logbook. Bitcoin miners receive 25 bitcoins for every mathematical problem they solve. 

According to The Daily Dot, most Bitcoin miners work in pools where the 25-bitcoin reward is cut up and distributed among a group. For the investment, though, 25 Bitcoins really isn’t a significant amount of money.

In this video, a Bitcoin miner cools down his computer rig with liquid nitrogen. That seems safe, right? - Read more here: http://o.canada.com/2013/04/30/bitcoin-mining-involves-creating-frankenstein-like-computers/

Cooling a Bitcoin Mining Farm with Liquid Nitrogen

Monday, April 29, 2013

Incredible Video: Butterfly Labs Jalapeno ASIC Bitcoin Miner: Unboxing and Demo

Butterfly Labs Bitcoin ASIC Miner - Mining Bitcoins for Free - New Bitcoin World - Latest Bitcoin News, ASIC Bitcoin Mining, BTC, LTC, Litecoin
Ladies and gentlemen, I present to you the Butterfly Labs Jalapeno - in the wild and hashing happily.

Butterfly Labs Jalapeno ASIC Bitcoin Miner: Unboxing and Demo

Tuesday, April 23, 2013

Amazingly Incredible News: Butterfly Labs ships Bitcoin ASIC Mining Jalapeños to customers

The day has arrived, the Butterfly Labs forum Latest Update reads “Jalapeños are making their way to their new homes. http://ow.ly/i/1WUo4nam″.

They have even provided us with a photo of a few of the ASIC bitcoin miners sitting on a trolley presumably waiting to be picked up and delivered to their new owners.

While there is no mention yet of numbers that have been shipped or when the other Butterfly Labs devices like the BitForce Single or Little Single will be shipping this will be welcome news to bitcoin miners everywhere.

Butterfly Labs was the first of the bitcoin manufacturers to announce that they will be upgrading their existing range of FPGA devices to ASIC early last year and started taking pre-orders on June 23rd last year, nearly 10 months ago. Since then they have had a series of technical and logistical problems in their quest to bringing ASIC devices to market. - Read more here: http://mineforeman.com/2013/04/23/butterfly-labs-ship-jalapenos-asic-bitcoin-miners-to-customers

Wednesday, April 10, 2013

Mining Bitcoins for Free

Pyramining.com - I just tested this bitcoin mining service. You can rent hashing power for a great return. It's a great way to do Bitcoin mining if you don't have needed machinery to do mining yourself. There is also network marketing aspect in this. You can increase your bonus by getting more people onboard. The more you get referrals, the higher your bonus will be. In Pyramining website you can see Hall of Fame list and awesome bonus percentages like 5747.4% - Nice! Anything from 0.1 BTC and up can get you in, but the best mining results comes from 5 BTC and up. More you invest - more you get backHighly recommended service :) You should definetely use me as referral - I have deposited 14.4 BTC (Now its like 136 USD / BTC = total = 1958 USD) for this great thingie, and will be adding more in the future. All is One - One is All - Everyone will benefit from this! All get their payements when being patience.

If you are not interested in Mining. Then you might be looking for free Bitcoins, this is right place for you! Here is a list of sites where you can get Free Bitcoins. http://www.newbitcoinworld.com/2013/03/list-of-sites-to-earn-free-bitcoins.html

This is maybe the best opportunity to invest for the future! Bitcoin gains more and more value when compared to normal currencies. Euro crisis and dollar collapse will drive bitcoin through the roof! Check out this article: Silver and Gold: A Hedge Against Inflation, Bitcoins: A Hedge Against Silver Manipulation? and this awesome video: Bitcoin to kill The Fed  Max Keiser, Bitcoin Millionaire "Bitcoins can go to $100,000... a million dollars..."
Here is also one good Bitcoin video about financial perspective in Russia Today: Keiser Report (seen below in embedded video). Now is the right time to get your Bitcoins rolling and earn more for you. The answer is Pyramining.com Why? Because you can make easy money with low cost and a little patience. Bitcoin is going to be the next big thing in the world. Spread a word and promote this site http://www.newbitcoinworld.com and you'll get more of major high end information about Bitcoin and it's relation to finance, prosperity and abundance. Bitcoin is the future of money markets - Free of Elite Bankster's manipulation. Learn more here: Currency of the Revolution by Danny Panzella - Bitcoin Summit.
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss both the Dow and bitcoin hitting an all time high as the Fed continues to print $85 billion per month for Wall Street handouts whilst the sequester cuts $85 billion from services to the poor, the elderly and soldiers. They also talk about house prices tripling to all time highs in Hong Kong (thanks to quantitative easing) whilst 'surreal' ghost cities are built in mainland China but which nobody can afford and about how incomes in America are collapsing - thanks to quantitative easing. In the second half of the show, Max Keiser talks to Charles Hugh Smith of OfTwoMinds.com about both socialism and capitalism leading to debtism.
Keiser Report: Bitcoin Millionaires vs Paper Billionaires (E416)

Monday, April 8, 2013

How to earn free Bitcoins - List of good sites (updated 2013-05-09)

Start Using Bitcoins:

You will need a wallet to receive coins and you can get one for free.
  • BlockChain.info Wallet - Its a Hybrid Wallet with many functions, and one of the best imo.
  • Bitcoin-Qt - Is a bitcoin wallet client, which was originaly started by Satoshi Nakamoto and is open source.
  • Instawallet.org - This is an online Bitcoin wallet. It builds a unique url for access.
There are also more clients with many other features ~> Click here

There are a number of sites that exist that enable you to earn bitcoins for free or by completing basic tasks. The amount of bitcoins you can earn is usually very low, so these sites are generally designed for newcomers to Bitcoin.

These sites are extremely important to the Bitcoin community as it provides an easy way for newcomers to get their first bitcoins without the need to invest anything other than time.

List of sites to earn free Bitcoins

Recently added:

Been here for a while:

  • Bitvisitor - get paid to watch websites for 5 minutes.
  • Netlookup - ad-supported. Providing free bitcoins every 24 hours.
  • BitcoinAddict - free bitcoins every 24 hours. Chance to win jackpot.
  • Bitcoin faucet - One time payout per Google account.
  • BunnyRun - select a bunny & get paid on the basis of its position in a race.
  • Bitcrate – ad-supported. Break crates to get bitcoins. Different crates have different amounts.
  • DailyFreeBitcoins - free bitcoins every hour, ad-supported.
  • Coinad - free bitcoins every hour for account holders, every 24 hours for visitors.
  • Coinurl - url shortener, get paid by shortening links
  • Bitcoiner - ad-supported. Free bitcoins every 24 hours.
  • Bitcoin Captcha - free bitcoins from a pre-selected pool.
  • Earn Free Bitcoins – get paid to watch websites (allows NSFW/Adult Content)
  • BTCFree.tk - free daily bitcoins
  • Coinreaper - free bitcoins, BITCOIN Reaper, Free Bitcoins for you here
  • BitStart .biz – scroll down to the bottom or buy an ad for profit.
  • BTC 4 Free .com - fill out surveys to earn bitcoin.
  • Free digital money .com – try apps, surveys, ads, trials etc. (advertised rewards are not who bitcoins but micro-bitcoins)
  • Coinworker .com - do tasks to earn bitcoins.

Network marketing / Multi-level marketing sites

Betting & Casino and other interesting sites:

Original Satoshi Nakamoto Bitcoin Intro (.pdf file )

Spending Bitcoins:

There are lots of merchants accepting bitcoins, and everyday this list grows, from virtual bussiness to retail bussiness.

  • SatoshiDice - SatoshiDice is the world's most popular Bitcoin betting game. Win up to 64,000x your bet, instantly. All rolls are verifiable using the blockchain.
  • Bitmit - buy and sell goods with bitcoin
  • BitcoinStore - Over 500k electronic products for sale (Amazon competitor)

 Extensive list of merchants accepting bitcoins -> Click here

[ Related posts ]:

Amazing! The Boom of Bitcoin: Digital currency goes Viral!

A new currency is taking the world by storm and has seen its value surge more than 1000 per cent from about $15 to nearly $170 since the beginning of 2013.

Bitcoin is a decentralised, anonymous, digital-only currency that's lately got a lot of public attention and sparked a trading frenzy.

Not managed like a typical currency, Bitcoin belongs to no particular country, is not minted on plastic, paper or metal and under the control of no central bank.

And yet it has reportedly enabled a US citizen to buy Porsche Cayman last month!
How Bitcoin works 
Bitcoin was originally developed in 2008 by a computer developer using the pseudonym "Satoshi Nakamoto", who published a paper describing how it could work.

The goal of creating Bitcoin was to have an alternative currency that could not be devalued by governments or central banks.

A report compiled by Business Insider says just after a year of being introduced, they started being traded and mined.

The online currency now totals $1.8 billion and is accepted by various merchants and services internationally.

Bitcoin generation is based on a highly complex computer algorithm, programmed to generate a fixed number of Bitcoins per unit of computing time.

They can be bought with money and can also be "mined".

The Motley Fool Australia explains that obtaining Bitcoins is similar to opening an account through a bank. “All a user has to do is visit Bitinstant and convert a local currency into the virtual money. The currency is traded just like any other, with the most popular exchange being Mt.Gox.”

In order to trade via a bank transfer you need to “link” your bank accounts using the login details associated with said bank account. - Read more here: http://au.pfinance.yahoo.com/education/forex/article/-/16641752/the-boom-of-bitcoin-digital-currency-goes-viral

Cool! Bitcoin Boom: Is This the New Safe Haven?

April 5 (Bloomberg) -- Convergex Group Chief market Strategist Nick Colas doscusses trhe future for Bitcoin. He speaks on Bloomberg Television's "Lunch Money." (Source: Bloomberg)

Bitcoin Boom: Is This the New Safe Haven?

Thursday, April 4, 2013

Luke-Jr shows off the first Butterly Labs ASIC bitcoin miner

Luke-Jr developer of the popular BFGMiner bitcoin mining software has spent a bit of time at Butterfly Labs headquarters working on driver support for their new ASIC bitcoin mining devices and has released photos today on BitcoinTalk showing us photos of what he says is a prototype Butterfly Labs Little Single ASIC hashing.

If you look at the image above it shows two ASIC bitcoin mining devices on the left and one of them seems to be plugged in and running, above that you will see a power meter showing that there are 179 watts being used. The laptop is running BFGMiner running one Butterfly Labs device at what looks to be somewhere around 23 to 24 GH/s.

While those are not the specifications for the Little Single (originally meant to be 30 GH/s at 30 watts) this is just a prototype that Luke-JR is using to perfect mining software support for BFGMiner. - Read more here: http://mineforeman.com/2013/04/02/luke-jr-shows-off-the-first-butterly-labs-asic-bitcoin-miner

Butterfly Labs increases prices and decreases hash rates on the ASIC bitcoin mining devices

After the bad news last week that Butterfly Labs missed their power estimates for the new range of BitForce SC ASIC bitcoin miners and the underperforming glance Luke-Jr showed us of an actual device hashing Butterfly Labs has shocked the bitcoin mining industry by altering their entire product line.

The BitForce Jalapeno that was to do 4.5 GH/s and cost $149.00 will be replaced with a 5 GH/S Bitcoin Miner for $274.00.

The BitForce Little Single 30 GH/s Miner for $649.00 will now be a 25 GH/S Bitcoin Miner costing $1,249.00.

Finally The BitForce Single 60 GH/s for $1,299.00 is replaced with 50 GH/S Bitcoin Miner for $2,499.00.

Unfortunately the BitForce Mini Rig for 1,500 costing $29,899.00 is now marked as out of stock and has no replacement at present.

I have not been able to find out what will happen to people with ‘pre-orders’ as of yet (some going back a full eight months) but when I find out, I will update this article. - http://mineforeman.com/2013/04/05/butterfly-labs-increases-prices-and-decreases-hash-rates-on-the-asic-bitcoin-mining-devices

Monday, April 1, 2013

Bitcoin Developer Receives First Butterfly Labs ASIC

Bitcoin developer Luke Dashjr has reported that he received the first Butterfly Labs ASIC to reach the hands of consumers. The device is still far from full capacity, pushing out only 25 GH/s at a power consumption of 180 watts, but this is nevertheless the first definitive proof that Butterfly Labs is producing a legitimate product, and is not too far from finally releasing its first batch.

Butterfly Labs’ Josh Zerlan also recently provided updates on the state of Butterfly Labs’ production in an IRC channel. The core of the conversation is this:

BFL_Josh: Well guys, I had planned on updating everyone with a video of a board hashing here in KC tonight, but I haven’t been able to get that together yet, so I’m probably going to have to push it off until tomorrow. We are targeting a start of shipment next week, but I’m not quite ready to commit to that at the moment, given our past estimates. It’s imminent, though.
Lab_Rat: It hashes????
BFL_Josh: Yes, it hashes

Further down in the conversation, Zerlan provides the main reasons for the current delay. Zerlan writes: “We may miss our power targets, that’s been part of the hold up… we think there’s a problem with the power consumption and we’re trying to figure out where it’s having an issue … What’s causing even more consternation is the fact that the wafer we burned for tests runs at far less power than a second wafer we mounted on the BGA package… so it may be a wafer by wafer thing, and since we only have two datapoints, it’s hard to nail down the issue.” To many in the field, these difficulties are unsurprising; in mid-January, Avalon founder Yifu Guo wrote on the topic “recently they changed it to 1.2W, but they won’t even reach that. We ran 65nm simulations and they should be around 3W.” But to many of Butterfly Labs’ customers, who have now suffered from six months of delays, power consumption does not even matter; given that every extra day represents a lost opportunity for profit that will never come back, almost any level of power consumption is acceptable if it means that the devices will ship faster.

Butterfly Labs’ shipment has been awaited by the community for nearly ten months; the company was in fact the first to start accepting pre-orders in June 2012. Although the original shipping date was scheduled for October, the company suffered a number of delays that changed their expected shipping date first to late November, then early January, then mid-February and finally where it is today. In the meantime two other major ASIC producers, Avalon and ASICMiner, have also started hashing, and are partially responsible for raising the network hashpower from 20 TH/s to 55 TH/s over the past three months (the other contributing factor being the rapidly increasing BTC price). However, the community is still watching Butterfly Labs intently for one key reason: its potential hashpower. Although the output of Avalon and ASICMiner has been small, with Avalon’s first release being 20 TH/s and ASICMiner’s launch 12 TH/s, Butterfly Labs’ preorders altogether make up over 60 TH/s – more than is currently on the entire Bitcoin network. - Read more here: http://bitcoinmagazine.com/bitcoin-developer-receives-first-butterfly-labs-asic/