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Posts about startups by John Melonakos My Bitcoin Mining Experiment in EducationIdeas I should have started playing with bitcoins much sooner than today a la living in the future. There are two ways to get bitcoins: The integrity of the bitcoin ecosystem is maintained by people who use their own computers to validate bitcoin transactions.
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In return for offering your computational resources to the ecosystem, you get rewarded with mined bitcoins. As time passes, it becomes more and more difficult to earn bitcoins through mining.
My hash rates are: The low-hanging fruits are gone. This is by design. It was fun to learn how it works though. As time passes, it becomes more and more difficult to earn bitcoins through mining. So why not take advantage if you already have the hardware available….
This is by design. Early on, people would use GPUs t0 mine bitcoins, and as a GPU computing company, we heard a lot about that.
Now GPUs for bitcoin mining is obsolete; people instead buy ASICs specially designed for bitcoin mining. Today, I decided to experiment with bitcoin mining on my Windows laptop. Install MultiBit and Get a Bitcoin Wallet — Easy to do here.
Provides a unique wallet address to use to receive payments when they come. I added 3 workers for each of the 3 OpenCL devices on my laptop described below.
Each of those devices is cranked up full throttle. My hash rates are: The low-hanging fruits are gone.
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It was fun to learn how it works though. I have no idea if bitcoins will change the world or not.
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But they are really interesting. What experiments have you run in bitcoin mining?
What are your thoughts?