Mining is the process of spending computing power to process transactions, secure the network, and keeps everyone in the system synchronized together.Anybody can become a Bitcoin miner by running Bitcoin mining software and Bitcoin mining modules with specialized Bitcoin mining hardware.Mining software listens for transaction broadcasts through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions.The video below of a Bitcoin mining farm in China will give you a better idea of just how competitive Bitcoin mining has become: The proof of work is also designed to depend on the previous block to force a chronological order in the block chain.The total Bitcoin network hash rate is publicly available and can be used to estimate the network's total electricity costs.Some miners, for example, [use the heat generated by bitcoin miners to supplement regular heating systems](http://www.waters.nyc/writing/325).Mining makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks that occurred after the target transaction.

These abbreviations stand for the hashing power that your miner is generating.MH/s stands for megahash per second and GH/s stands for gigahash per second.There is a direct correlation between how fast your miner works and how profitable it will be.W/Gh and W/Th are abbreviations for watts per gigahash and watts per terahash.These metrics calculate how many hashes a miner can run per watt of electricity.Mining hardware with lower W/Gh and W/Th are more efficient.Currently, the Antminer S7 and Avalon6 are the most efficient miners available for purchase, at 0.25 W/Gh and 0.29 W/Gh, respectively.You can use bitcoin mining profitability calculators to calculate the profitability of mining under varying circumstances, to include difficulty increases, power consumption, and average hashrate, for example.The term "hashing" means how quickly your hardware is processing data from the Blockchain and solving the complex mathematical equations that are required to earn bitcoins.A mining pool is a group of miners who have shared their hashing resources to solve blocks together and the rewards are then distributed amongst the members.

Let's say Bob runs a Bitcoin mining farm with 1% of the Bitcoin network hash rate.His machines only find, on average, one out of every 100 blocks.ethereum upgradeBob becomes impatient and wants more frequent payouts.trusted bitcoin casinoHe joins a mining pool with 20% of the network hash rate.litecoin coreInstead of getting paid on average once per 100 blocks, Bob now receives smaller but more frequent payouts every five blocks.bitcoin nigeria exchangeA Graphics Processing Unit powers most computer video cards and can be used to mine Bitcoins.bitcoin no id redditA share is merely an accounting method to keep the miners honest and fairly divide any rewards earned by the pool.bitcoin ces 2014

A Bitcoin mining module is usually a worker as assigned in the Bitcoin mining software.For example, four GPUs are plugged into the motherboard constituting the Bitcoin mining hardware.Then the Bitcoin mining software identifies each GPU as a unique worker.So, this small Bitcoin mining rig would be composed for four Bitcoin mining modules.An Application-Specific Integrated Circuit is a special chip designed specifically for mining Bitcoin and is much more energy-efficient and faster than GPU or FPGA mining.A Field-Progammable Gate Array was already an established hardware product that can be used for different purposes, but in this case the technology was repurposed for mining Bitcoin.The mining rewards and transaction fees for each block can be viewed online with any block explorer.In the example above, we get information on block #408450:Got your shiny new ASIC miner?Wondering when it will pay off?If you enter your hash rate below, this page will calculate your expected earnings in both Bitcoins and dollars over various time periods (day, week, and month).

It will not attempt to extrapolate difficulty or price changes -- it provides only instantaneous calculations (how much you'd make if all conditions remained as they were right now).Next difficulty retarget occurs at block 473759.0 (eta 7.5 days): 7.00196356322e+11 / -1.6% [est.] Has this service helped you?_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote down vote favorite 10 I started mining on a friend's computer and it shows 300 kH/s.But when I research other peoples' hash rates I usually see MH/s.Are these speeds the same as kilobytes and megabytes?Also, when I say 300 kH/s does that mean 300,000 Hashes generated per second?hashpower terminology up vote down vote Sure: 1 kH/s is 1,000 hashes per second (sometimes mistakenly written KH/s).1 MH/s is 1,000,000 hashes per second.1 GH/s is 1,000,000,000 hashes per second.1 TH/s is 1,000,000,000,000 hashes per second.

1 PH/s is 1,000,000,000,000,000 hashes per second.up vote down vote Hash rate denominations 1 kH/s is 1,000 (one thousand) hashes per second 1 MH/s is 1,000,000 (one million) hashes per second.1 GH/s is 1,000,000,000 (one billion) hashes per second.1 TH/s is 1,000,000,000,000 (one trillion) hashes per second.1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second.1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second.Conversions 1 MH/s = 1,000 kH/s 1 GH/s = 1,000 MH/s = 1,000,000 kH/s 1 TH/s = 1,000 GH/s = 1,000,000 MH/s = 1,000,000,000 kH/s and so forth SI unit prefixes The denomination of hash rates follows the International System of Units (SI).kilo-, mega-, giga-, tera-, peta-, exa-, hereby describe prefixes increasing by a factor of one thousand.Please note, that the symbol for kilo- is a lower-case "k".As "K" is the symbol for kelvin, the unit of thermodynamic temperature.The following table from Wikipedia shows an overview of the prefixes, symbols, and factors they correspond to.

Inconsistency of kilobyte, megabyte, and gigabyte The computer industry's use of kilobyte, megabyte, and gigabyte is inconsistent with the SI.The Joint Electron Device Engineering Council (JEDEC) has redefined the prefixes kilo-, mega- and giga- in correspondence with bit and byte as powers of 1024 instead of 1000.Higher prefixes were not redefined by JEDEC.In order to avoid this inconsistency, the International Electrotechnical Commission (IEC) has proposed the binary prefix which uses kibi [Ki], mebi [Mi], and gibi [Gi] for 1024¹, 1024², and 1024³ respectively.The following table from Wikipedia gives an overview.up vote 4 down vote kH/s means thousands of hashes per second.MH/s means millions of hashes per second.GH/s means billions of hashes per second.300 kH/s is 300,000 hashes per second or .3 MH/s.up vote 2 down vote Hello I would refer you to wikipedia Metric prefixes.Hashes are measured in standart SI metric prefixes such as Kilo - 1 000 Hashes/s Mega - 1 000 000 Hashes/s Giga - 1 000 000 000 Hashes/s E.G.