GETTING STARTED AS A BITCOIN MINER
A concise guide to Bitcoin mining :
Before choosing hardware, make an analysis of the following vital factors –
- Hash rate
- Energy consumption
HASH RATE = the number of calculations performed each second via hardware to try to decrypt an encoded sequence of numbers. These are measured in MH/sec (Megahashes per second), GH/sec (Gigahashes per second) and TH/sec (Terahashes per second).
Choose hardware that gives the HIGHEST hash rate as it offers the best chance of solving a transation block.
For a comparison of mining hardware hash rates = https://en.bitcoin.it/wiki/Mining_hardware_comparison
ENERGY CONSUMPTION = how many hashes the hardware will perform for every Watt of electricity used in the process of mining. You will need to divide the hash rate by the number of Watts used.
HARDWARE BY CATEGORY –
A combination of a computer’s CPU (Central Processing Unit), combined with a Graphics card’s GPU (Graphical Processing Unit) and a Motherboard that is suitable for adding multiple boards in order to maximise mining power.
This hardware method can be used to mine other cryptocurrencies besides Bitcoin, that use an alternative ‘proof of work’ algorithm called ‘Scrypt’, opening the way for miners who want to switch between different currencies.
An integrated circuit designed to be configured after being built. An FPGA (Field Programmable Gate Array) customised specifically for mining with significantly higher performance levels than CPU/GPU usage. A single-chip FPGA has been reported to operate at approximately 750 MH/sec so by equipping your hardware with more chips would boost power.
A purposely designed and built integrated circuit (Application Specific Integrated Circuit) that mines Bitcoins at vastly accelerated speeds and requires much lower electricity consumption. These units have been reported to reach speeds of between 5 to 500 GH/sec with future advances promised by manufacturers as high as 2 TH/sec.
For general information about Bitcoin = http://en.wikipedia.org/wiki/Bitcoin
Once you’ve kitted yourself out as a Cryprocoin miner visit our mines at http://computerstudio.eu/$cryptocoin-mining-pools.php