Do you want to get in on Bitcoin mining?

bitcoin mining

If you have been following the news lately, you probably have heard about the online currency of bitcoin. Bitcoin is a crypto currency where people use computer hardware to solve complex algorithms in exchange for the chance of finding a “block” of coins.

The reason you may be interested in this is that within the last week the price of a single bitcoin has gone into the $800 dollar range. I know this peaked my interest as well. In fact, I have been mining bitcoin on and off for a few years now.

Getting into bitcoin mining can be a little more difficult than you can imagine. You find the coins by completing hashes. The more hash power and blocks that are found, the harder it becomes to find the next block. When the difficulty goes up, your old computer hardware is probably not going to cut it anymore.

If I mine for a solid week almost 24/7 on my current desktop, which is running 2 6870s for graphics card, I will make about .001 bitcoins, which equates to a little over a dollar. This is not worth it for me. However, if I were to buy a new machine that is meant for mining bitcoins only, for a few thousand dollars, I would be able to mine so much more than .001 bitcoin a week. In fact, I could potentially make 1 bitcoin a day if I get lucky.

I have been searching around for one of these systems lately, and found a website that talks about many bitcoin miners. A bitcoin miner that is built for the sole purpose of mining bitcoins is going to be your best bet to actually turn a positive ROI with this crypto currency.

If I decided to buy one, I will report back here. Until then, I will continue mining on my current desktop with free electricity to keep myself warm in the winter!

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