Bitcoin Hash Functions Explained - CoinDesk

A Bitcoin Miracle (Story)

Ian had started mining bitcoins with all his friends in high school, as a hobby. He had researched the concept and realized it would be a fun thing to get involved in. His interest in it had been perked by his econ professor, when they discussed the pro's and con's of different types of currencies / payment methods in history. With his after school job stocking shelves he had saved up a bit of money and all he had to do was convince his parents the extra electricity him and his friends would be using of theirs, with the computers running in the basement. To save on costs, he wanted to keep the computers as cool as possible, using as much "passive" cooling as he could get away with. At dinner he spoke to his father, Ted, who like most parents, not only didn't understand what he was talking about, but claimed it was illegal on some level. "You can't just make money from thin air! The answer is no". Begrudgingly Ian went to his room and logged on to his and his friends favorite IRC server to let them know of the answer. Luckily Ian's bestfriend, Sara, had gotten the go ahead from her parents, who were thrilled she was interested in computers. They knew that any employment opportunities in the future their daughter would chase, would involve a strong grasp of current computing technologies. Unlike Ian's dad, Sara's parents had asked her how Bitcoin mining worked, and after she had explained it, her parents realized their daughter and friends weren't going to be actually printing money from thin air, but employing hardware and software to work for it. And electricity. They all agreed to meet tomorrow to plan it.
They met at lunch, outside, and sketched out the amount of money they'd need to spend in the start, as well as a monthly amount of cash they'd give to Sara to offset the cost of the electricity. They all were pretty amped about it, other then Ian. Ian returned home and decided that he'd do some mining on his own, regardless of what his father had said. He'd just sacrifice his own rooms electric power, so his father wouldn't ever notice it. This meant no more Xbox, no more air conditioning, and no more mini fridge. He built a small space in his closet, that had a hole for an air duct into the attic. With proper airflow achieved he began the process of transferring all his files from his desktop to his netbook. He had enough money for more graphics cards, but not an entire separate machine. He maxed out his computer with 4 HD 5830's after some research on cost/MHash, installed Ubuntu on the computer, started up cgminer on it, and configured the machine to mine with a few pools. He had them send bitcoins to a wallet he had made, in a truecrypt volume. Feeling pretty excited about it, he turned off his AC, and tried to fall asleep in the summer night.
Weeks and months and then a few years passed by, with some of Ian's time being spent at Sara's basement with the rest of the group, building their mining rigs, powering them on, configuring their mining pool, and making sure everything was running properly. One of Ian's friends dad was an engineer, and they had been able to borrow an infrared thermometer gun to double check the temperatures of the cards. Things were going real well. And when things are going well, something bad is bound to happen.
Ian began feeling more and more tired each morning. At first he thought it was because he was sleeping without the AC on, so he tried sleeping on the couch in the living room. Things only continued to get worst. Ian's mother took him to a doctor that accepted their health insurance, and after waiting a few weeks for blood tests, it turned out Ian had to have an MRI to verify a few things. The doctors soon saw the cause of his problems, which was a brain tumor that was causing elevated pressure in his head. Ian and his family went home to discuss what they would do, and how they'd pay for it.
While Ian's parents figured out a way to pay for surgery, they heard a crash come from the staircase. Ian had feinted on his way up to his room. As they carried him to the car all they heard him mutter was "bitcoins". Figuring it was due to him feinting they rushed him to the emergency room at the local hospital, where Ian was put in to a chemically induced coma, to prevent any brain damage.
Ian's friends came to visit him, but they visited less and less each week. One day, with only Ian's parents and Sara in the hospital room, the father mentioned to Sara the last thing Ian had said to him was something about bitcoin's, and he then told her about the fight he had had with Ian the year before. She smiled and told him about how they had ended up doing it at her basement, explaining what it was, and how most of their coins they had spent on pizza. She told him that the price of a bitcoin was rising, in U.S. dollars. The father smiled, realizing that his son may have been right all along, about the importance of a decentralized currency, and after Sara's explanation, it truly wasn't printing money from thin air. There was nothing illegal about it. A $20 dollar bill wasn't illegal because it could be used to buy drugs, so why should a bitcoin be illegal?
Later that night, Ian's father was going over the family bills that seemed to keep stacking up, trying to figure out how to pay for Ian's surgery, when he saw the electric bill was much higher then usual. He had recently turned the AC on in Ian's room, and plugged his mini-fridge in after stocking it with his favorite soda's, in anticipation of the day his son would come home. He went up to Ian's room and heard a whirring noise coming from Ian's closet. Behind a stack of comic books and shoe boxes he found Ian's desktop. "What was it doing back here?" He decided to give Sara a call, though it was late, she lived across the street so it wouldn't be a problem. He showed her what he had found, and after some clicking and typing, she hugged him and screamed for joy. Confused he asked her what was she so happy about. She showed him Ian's Bitcoin wallet, which was still mounted, and explained that Ian had been mining privately Bitcoins for awhile now. His Bitcoin wallet showed 1803.78004 BTC. Before Ian's father could ask why this was good news, Sara showed him the current rate of a bitcoin on mtgox, and after some calculations, Ian's father realized enough money existed to pay for Ian's surgery!
Sara spent the rest of the night setting up accounts on various BTC exchanges, transferring funds, and then trading bitcoins for U.S. dollars. The next day was spent going from bank to bank, to pick up wire transfers, and then it was time for Ian's surgery.
When Ian recovered from the surgery, Sara explained to him what had happened, while Ian's father and mother held his hands. Ian's dad apologized and told him he'd support his bitcoin hobby. Sara interjected and caught Ian up on how GPU mining was soon being replaced with ASIC mining. Ian looked up at his father and casually mentioned "Well... my birthday is coming up..."
|Just something that came to me on my bus ride this morning
submitted by qwertytard to Bitcoin [link] [comments]

Is ASICMiner worth it ?

Hello, I'm new to Bitcoin mining, I mine with my GTX 750 Ti, just for fun, just to test :) I mine at 170 Mhash/s. I have a RaspberryPi but I don't use it, and I wanted to transform it into a little Bitcoin miner with ASICMiner (ASICMiner Block Erupter USB 330MH/s Sapphire Miner) like that: http://www.amazon.com/ASICMiner-Block-Erupter-USB-Sapphire/dp/B00CUJT7TO
So I wanted to ask; Is it worth it ?
Cordially, bmx22c.
submitted by bmx22c to Bitcoin [link] [comments]

To the moon! Dogemining with BFGMiner, Debian, and ATI.

Visitor from the future! Hello. I'm a newbie digger and recently setup my first dedicated mining box in Debian. I'm not the most experienced Linux user, but the machine had started with Debian Squeeze and I couldn't find its old Windows key. (Also please forgive formatting errors, I'm new to this whole "Reddit" thing as well.)
I found a number of guides to misdirect me on my way, so I decided to write up a sort-of (or at least hopefully up-to-date) guide to create a Dogecoin miner on Debian with AMD cards, using BFGMiner to mine coins.
Expert digging shibes: I would certainly appreciate feedback to improve this guide.
This is not a headless mining guide. I have not reached that level of mastery yet, though I believe it is well within reach.
HOWTO
You can refer to this wiki source to understand the output from BFGMiner 3.10.0. The one gotcha I've observed is that BFGMiner will happily start off showing hash rates in KHash/sec, and after the first accepted block it will jump to MHashes/sec. When I first saw my hash speed appear to drop from "250" to "0.2", I panicked a little before seeing it had changed its orders of magnitude.
If you think you're still mining slowly, you might need to bump up the intensity for BFGMiner. Higher intensity means more work, and it's possible to create hardware failures if you set it too high. For my HD 5870s, I use an intensity of 12. You can either set the intensity by adding "-I 12" to the ./bfgminer line of doge_dig.sh, or you can adjust the value by pressing M in BFGMiner and working through the menu system from there.
Bonus: Multiple cards
What happens if I have multiple ATI cards on one rig, you ask? I had the same problem, and OpenCL would only recognize one of them! It turns out that there's an easy solution, but it costs $1.25 in resistors from your local radio shack: http://www.overclock.net/t/384733/the-30-second-dummy-plug
Plug the finished product from there into your second card. If you have more than two cards, you'll need to make one for every card you want to recognize without a monitor attached to it. Reboot and restart your mining, BFGMiner should recognize all of your cards now.
In theory, the above technique should allow you to run completely headless, as long as you also install SSH and be sure to have your script export DISPLAY=:0 before running BFGMiner. I haven't tried this, though.
Happy mining and welcome to the Moon! I hope this is helpful to someone.
submitted by indigodarkwolf to dogeducation [link] [comments]

Questions about mining

Hello everyone. I have been doing a bit of research on hardware that does well with this type of thing and I came across this site when reading through forums on configs and hardware setups: https://products.butterflylabs.com/
To my understanding most of the GPU setups are in kHash which is (1 mHash / .1 gHash). Am I correct on this or off on my reading? Also, are those ASIC's set up specifically for Bitcoin mining ONLY and not Litecoin mining (as of right now)? Just seems like those will make any GPU setup completely obsolete. I was looking at some hardware setups to build some towers that would get about 500 kHash a piece (assuming I set them up right) according to this site: https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison#wiki-Nvidia_GPUs
So first off I will be testing this out with my normal PC to see if I can get it working and then if it goes smoothly look into getting some dedicated rigs. So my question is, where should I put my money in terms of hardware? Will GPU mining be the most efficient for the time being with Litecoin mining or will holding out to get one of the ASIC setups?
Sorry if I have a lot of noobie questions, just trying to make sure I understand this correctly before making any decisions.
Thanks!
submitted by VR4Gazm to litecoinmining [link] [comments]

bitcoin mining CPU AMD A8-5600 max mining speed 4 Mhash/s Test Scanning Stainless Steel BITCOIN WALLET view $1K and 15 Mhash Worth of Bitcoin Mining Rigs - IS GPU MINING STILL PROFITABLE? - Mining Adventure3 5+ Mhash/sec Worldcoin/Litecoin (LTC) mining rig Hash-hole Test 1 Mining Bitcoin In My Garage

Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Although Bitcoin’s exact hashing power is unknown, it is possible to estimate it from the number of blocks being mined and the current block difficulty. Notes Daily numbers (raw values) may periodically rise or drop as a result of the randomness of block discovery : even with a hashing power constant, the number of blocks mined can vary in day. Find hashrate of graphics card's and submit yours to help others. Also find graphics card power consumption, which driver version to choose, tweaks and suggestions. Bitcoin Wallet Guide. Bitcoin wallets are programs that allow you to send and receive Bitcoin. However, in order to choose the best wallet for your needs there are a lot of factors to take into account. In this post I'll cover everything you need to know about wallets and also review the best Bitcoin wallets around. Read More Hash per second is an SI derived unit representing the number of double SHA-256 computations performed in one second, referred to as hash rate.It is usually symbolized as h/s (with an appropriate SI prefix).. Use in hardware specifications. The hash rate is the primary measure of a Bitcoin miner's performance. In 2014, a miner's performance was generally measured in Ghash/s, or billions of

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bitcoin mining CPU AMD A8-5600 max mining speed 4 Mhash/s

Here's how Day 4 of investing $500 or .049 bitcoin through SierraHash Cloud Mining went. Was the third day payout worth it? Here's an update video on SierraH... mine bitcoin using amd a8 - bitcoin mining CPU AMD A8-5600 max mining speed 4 Mhash/s. mining on cpu wery slow becose 4 mhash\/s its maximum speed of mining with cpu amd. mining, bitcoin, crypto, bitcoin cash, nvidia, amd, server, graphics cards, gpus, ethereum, nicehash, dash, bitmain, asic, currency, altcoin, cryptocurrency. This is just a brief look at my 5+ Mhash/sec litecoin mining rig. It uses a total of 9 7950's and a single 5870. At the current difficulty level, it is mining about 430 litecoins a month. Edit: as ... If you are feeling Generous. 1HtszptLXskCrwoVSLUeEugLB2P8S43vUL Just set this up out of boredom and wanted to see how it all works as Asic miners make this easy to do ...

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