It’s been impossible to go on the internet or pickup a newspaper over the past few weeks and not read about Bitcoin.The cryptocurrency has captured the interest of everyone from hedgefund managers to economists to anti-government groups.For many, the coverage has created more questions than answers, ranging from inquiries about the legitimacy of Bitcoin as a currency to more simple matters such how, “How does one spend a Bitcoin?” Most of all, people are asking “How do I get Bitcoins?” And, unlike so many things, it’s easier to do than it is to explain.For now, we’ll skip the academic explanation of what it means to mine a Bitcoin and why you are mining, not creating.This article will be a practical guide to mining Bitcoins at the amateur level.Yes, it’s late in the game — Bitcoin started in 2009 and the growth since then has made the ecosystem extremely competitive — but it can still be both productive and enjoyable (if computers and economics interest you).I’m no Bitcoin expert, but it’s something that I’ve spent some time tinkering with over the past few weeks.

Basically, this guide should streamline the process if you are looking to get into Bitcoin mining and answer some questions if you are curious about how you can get into Bitcoin without fully understanding this.bitcoin idagThe goal of this article is to answer two simple questions: “How do you mine Bitcoins?” and “Can I make money mining Bitcoins?” In keeping with the questions, everything will be put in the most basic, most practical terms possible.kurs bitcoin 2013As noted above, mining Bitcoins is a easier to do than to fully explain.bitcoin regulation singaporeAt the most basic level you get a computer, you setup a mining program, then you let the system do lots and lots of math.bitcoin calculator source code

There are some complications, like which Bitcoin mining program to use (GUIminer for Windows is the most simple) and where to store what you earn (you can have a local or internet-based wallet), but these aren’t things you need to over-think.bitcoin 1933pThe best thing to do if you want to keep this exercise practical is to get cracking.pyopencl bitcoin minerThis means joining a pool.bitcoin krugmanThere is an element of randomness to Bitcoin, but the only way to ensure an individual will earn anything is to join a pool.conversor bitcoin a euroThis will turn your one-person mining operation into a tiny part of a much larger one.bitcoin pdf deutsch

It’s a simple concept — you’ll be paid based on the amount of work your computers do — but the payment systems and related calculations get very complex.The best way to think about it is like this: a single computer operating on its own (known a “solo”) could work for years and never earn a single Bitcoin.This was different in 2009, but Bitcoin is a self-correcting system, and the more people that mine, the harder it gets to earn.Because 0.0001% of something is better than 0% of nothing, you’ll want to find a pool. is easy to use and has a very nice web interface.With your pool chosen and your miner downloaded there will be a setup process that ranges from a simple 2-minute operation to a multi-hour, extremely frustrating fight with your computer.I’ve been through both, and the first is preferable.There is one main thing to know about the setup: mining only works with an AMD GPU.Yes, you can set up an operation with a Nvidia graphics card and a CUDA miner, or you can mine with a CPU, but because of the type of calculations being done, you will suck down more power than you can earn back with either.

A good AMD graphics card (think AMD 7700 series and above) will perform twice as well as Nvidia’s top tier models and multiple hundred times better then the best Intel CPU.According to ExtremeTech’s Bitcoin expert Joel Hruska, “A $149 Radeon 7790 performs nearly as well as Nvidia’s [$1300] GTX Titan and is twice as fast as the [$500] GTX 680.” This is all measured in terms of megahashes per second (Mh/s), the key metric of mining.Next page: Bitcoin mining hardware and the associated costs…Based on shared data, this is the 12th overall best mining GPU and currently offers the 5th best kH/$ and 11th best kH/W ratio.Short Answer: You can mine or exchange for absolutely any cryptocurrency.Long Answer: There are two types of cryptocurrencies, based on two underlying algorithms.GPU's and the AMD Radeon HD 7770 are best at mining for Scrypt-based cryptocurrencies, so you should mine directly for Litecoin (LTC), Fastcoin (FST), Dogecoin (DOGE) -- or one of a ton of the profitable-to-mine altcoins such as Lottocoin (LOTO), Globalcoin (GLC), Tagcoin (TAG), Luckycoin (LKY), Diamond Coin (DMD), Galaxy Coin (GLX), Stablecoin (SBC), Worldcoin (WDC), CHNCoin (CNC), Goldcoin (GLD), Digitalcoin (DGC), Anoncoin (ANC), BBQCoin (BQC), Bottlecaps (CAP), Phoenixcoin (PXC), Neocoin (NEC), Grandcoin (GDC), Netcoin (NET), Megacoin (MEC), Emerald (EMD), Cosmocoin (CMC), Mincoin (MNC), Franko (FRK), Feathercoin (FTC), Casinocoin (CSC), Bitbar (BTB), HoboNickels (HBN), Mooncoin (MOON), Novacoin (NVC), Litecoin (LTC), Catcoin (CAT), Philosopherstone (PHS), Noirbits (NRB), Cinnamoncoin (CIN), CryptogenicBullion (CGB), Alphacoin (ALF), Earthcoin (EAC), Spots (SPT), and ExtremeCoin (EXC).

GPU's and the AMD Radeon HD 7770 can also mine SHA-256 based coins, such as Bitcoin (BTC) (the most famous), Peercoin (PPC), and Namecoin (NMC); however, it's usually not profitable to do so.The reason is that you'll have higher electricity costs than everyone else and won't be able to make a profit.Unless you don't pay for your own electricity - then you can still make a profit!You'll still be heavily outgunned if you're mining SHA-256 currencies with only a GPU though.Thus, if you do want to mine Bitcoin, Peercoin, Namecoin, Terracoin, or other SHA-256 based cryptocurrencies, you should use an ASIC Miner.These types of miners don't use a graphics card.Instead, they use a specially-designed circuit.They're far more power efficient.And also offer you far more bang for your buck.For example, this rig mines at between 30 and 38 Gh/sec -- well beyond the maximum hash rate you will see from any GPU currently on the market -- yet at a comparable price.I personally mine scrypt-based currencies (quite often Dogecoin) using GPU's only.

Then I convert my Dogecoin into Bitcoin if I want Bitcoin.The sky is the limit, subject only to how much you pay for electricity and your cash on hand.A huge number of currencies can be mined profitably right now.So the more GPU's you buy, the more you can make each day.This is the best article I found.It's also how I built my first mining rig.The Litecoinmining Subreddit is also a great place to check out regularly.AMD R9 290X (880 kH) AMD R9 290 (817 kH) AMD R9 280X (732 kH) AMD Radeon HD 7970 (710 kH) AMD Radeon HD 7950 (670 kH) AMD R9 270X (470 kH) AMD R9 270 (445 kH) AMD R7 265 (440 kH) AMD Radeon HD 7870 (385 kH) - $395 AMD Radeon HD 7850 (372 kH) Nvidia GTX 750 Ti (295 kH) - $130 AMD Radeon HD 7790 (243 kH) AMD Radeon HD 7770 (185 kH) Nvidia GTX 750 Ti (62W) - $130 AMD Radeon HD 7790 (84W) AMD Radeon HD 7850 (122W) AMD R9 270 (140W) AMD R7 265 (150W) AMD R9 270X (185W) AMD Radeon HD 7770 (185W) AMD Radeon HD 7950 (240W) AMD Radeon HD 7970 (270W) AMD R9 280X (290W) AMD R9 290 (300W) AMD R9 290X (312W) AMD Radeon HD 7870 (385W) - $395 Nvidia GTX 750 Ti (4.7) - $130 AMD R9 270 (3.2) AMD Radeon HD 7850 (3.0) AMD R7 265 (2.9) AMD Radeon HD 7790 (2.9) AMD R9 290X (2.8) AMD Radeon HD 7950 (2.8) AMD R9 290 (2.7) AMD Radeon HD 7970 (2.6) AMD R9 270X (2.5) AMD R9 280X (2.5) AMD Radeon HD 7770 (1.0) AMD Radeon HD 7870 (1.0) - $395 Nvidia GTX 750 Ti (2.3) - $130 AMD Radeon HD 7870 (1.0) - $395 AMD Radeon HD 7970 (0.0) AMD R9 290X (0.0) AMD R9 270X (0.0) AMD Radeon HD 7770 (0.0) AMD Radeon HD 7790 (0.0) AMD R9 280X (0.0) AMD R7 265 (0.0) AMD R9 270 (0.0) AMD Radeon HD 7850 (0.0) AMD Radeon HD 7950 (0.0) AMD R9 290 (0.0)