Best Bitcoin Miner
Best Bitcoin Miner Of
2013 (so far…)
So what is the best bitcoin miner in existence today? Although there is quite a bit of debate, there is simply no argument that the Butterfly Labs 7 G/hash Upgraded Bitmining rig will make its presence felt in the industry once it is officially released later in the month.
The fact that this type of rig and the whole process of bit mining in general is a relatively new industry, going with an already trusted and established name should certainly provide dividends over the following year.
I’ve done research, once bitcoins stabilize again(we have to wait a day or two as people just basically ddos’d everything bitcoin they could to make prices stop, sold all of their coins, then stopped the ddos, watched prices crash, and then bought all those bitcoins back and more and got a huge profit per bitcoin.
The reason bitcoins are so difficult to mine are the fact only one is minted every 10 minutes, so to make sure that the blocks aren’t being depleted and people aren’t taking advantage of the system is to make it more and more difficult to mine as the hashrate increases, this will be a major detriment as soon as the ASIC miners are released.
Bitcoin is also a few years old now, and I did a calculation if we let bitcoins get in the $200 stabily and say you had a free computer with a HD radeon 7950 you would be making about $6-$8 a day if you use a 500 watt power supply and have an 8 cent per kilowatt electric bill(which is what I have). overall if you get a really nice free setup then yes I would suggest that you go ahead and start mining bitcoins and sell them as if you would forex, but as for investing I would not suggest it.
For a while they were using graphics processing units. Now the big miners use custom ASICS. The returns on mining bitcoins are very low … it’s not a get rich quick scheme by any means. You know you can google all this.
The power that is required makes it sound like this mining venture isn’t worth it. Also, the way the bitcoin source code is made sounds like it was intentionally made very complicated for average computers to process. Will bitcoin mining be favored for the rich people at the beginning?
Bitcoin sounds like it can be a trusted form of trading, the biggest challenge may be whether it can become socially acceptable and understood. But it seems like smaller forms of digital currency mining is already taking place.
A few years ago I traded my gold in world of Warcraft for a game time card.
Check Out The 7 Week Bitcoin Mining Experiment In The Video Below…