Initechonline.net » BTC http://initechonline.net The Start of something not so interesting... Sun, 11 May 2014 04:52:59 +0000 en-US hourly 1 https://wordpress.org/?v=3.9.40 There be gold in those Bits http://initechonline.net/?p=235 http://initechonline.net/?p=235#comments Wed, 09 Apr 2014 00:24:50 +0000 http://initechonline.net/?p=235 SO… I decided to toy around with Bitcoin mining. Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain. Each time a block is processed the processing party […]

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I decided to toy around with Bitcoin mining. Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain. Each time a block is processed the processing party gets rewarded with 25 Bitcoins (~$12500.00). It is impossible to mine on your own and be profitable so I joined a mining pool. The pool I am using is slush’s pool or Bitcoin.cz. The pool uses a score system and the pool fee is 2%. The rig I bought consists of two Avalon ASIC 60 GH/s miners, I have them overclocked at around 63 GH/s each for a total of 125 GH/s. At the current difficulty I should make anywhere from 130.00-150.00 a month mining minus electricity.

bitcoin

The only bad part is these guys put off a lot of heat…I MEAN MEGA HEAT

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