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• - January 19, 2018 • - December 28, 2017 • - December 23, 2017 If you have any spare, unused hard disk space on your computer, then you could be putting it to use to earn some extra income. On a regular home computer you won’t exactly earn a fortune, but it won’t really cost you anything either. If you have any external hard drives lying around and a computer you can leave running 24 hours per day then maybe you can earn a reasonable extra income, but of course you will have to factor in the cost of electricity for leaving them running all the time. Each of the different services listed here use cryptocurrency tokens – peer-to-peer digital currencies – to pay users according to their contribution. These digital currency tokens which you will earn can be used to purchase other services on the network, or they can also be exchanged for Bitcoin or your regular national currency. As this is a pretty new field of enterprise with many services still in the early stage of development I have included on this page both established services and emerging ones which are not yet ready to use but which are worth keeping an eye on.

Burst Burst is an ‘alt coin’ – a digital currency designed as an alternative to Bitcoin which includes additional features and functions. P2P digital currencies like Bitcoin use something called ‘Proof of Work’ to help secure the network and create a consensus across the network about how many coins each person rightfully owns. The developers of Burst have created a novel take on this which uses ‘Proof of Resource’ rather than proof of work. The resource in question is computer storage space. Because of this you can use spare disk space to ‘mine’ Burst – to help secure the network and earn Burst coins as a reward.

How to plot your hard drive for Burst. Time and processing power to create. Plotting the disk space you wish to dedicate to mining BURST can be. Topic: [ANN] [BURST] Burst Mining System - A new. So might actually slow down the overall time of processing a. So currently the v1.1 jar only will mine. Considering the extremely low power. I'm not trying to shoot down the idea of mining burst on a raspberry pi. The Official BurstCoin Cryptocurrency Hub. Topic: [ANN] jminer v0.4.6 - GPU assisted PoC-Miner for Burstcoin (BURST. Win7 has strange caching issues on BURST mining!). AMD Accelerated Parallel Processing. In order to mine Burst, you first have to plot the disk space you want to use. This is the only energy-consuming manipulation and only has to be done once.

The storage you contribute to the network is not used for anything other than saving ‘plots’ which can be periodically checked to make sure that your really are contributing that amount of space. As a result it may be considered wasteful, but on the plus side the data does not need to be constantly available, so you do not need your computer to be switched on and connected to the internet 24/7.

Cons • Requires multiple software downloads and may not be considered user-friendly by non-technical users. • May be considered wasteful as the space is not used for anything • The Burst token is not widely used for anything, so it may not retain its expected value. For more information: Maidsafe Maidsafe is an ambitious attempt to create a new internet. The SAFE network is all about creating ‘Secure Access for Everyone’ who wants to use the internet without fear or hackers or having their privacy breached by spies.

Our current internet infrastructure relies on having servers which store websites’ code and data and then serve it up to regular users when they request it by visiting a particular web address. Maidsafe want to help us to do away with this centralized structure to create an encrypted serverless internet. When it launches later this year, users will be able to join the SAFE network as ‘farmers’, contributing their disk space to store the data for websites and apps which can then be served up to other users whenever necessary. For providing this service they will be rewarded in Safecoin.

The data will shredded and encrypted so it remains private at all times and cannot be stolen or spied on. Rather than buying or renting a server to host their websites and apps, business owners will buy Safecoins to pay the network for whatever resources they need. Other users may also purchase Safecoin to use the network for cloud storage, and in the future the same system may be used for sharing other computer resources such as processing power or internet bandwidth. Cons • Not yet ready to use • If your computer is not left on at least most of the time, then you may still be at a significant disadvantage in earning power compared to users who can.

For more information: Storj Storj is a peer-to-peer cloud storage service. You can use it to offer your spare disk space for rent or to store your photos and other media privately in the cloud.

Apps can also use the same storage space, for example to store and stream videos for a decentralized YouTube-like service. Cons • There is a heavy penalty is you can’t leave your computer running 24/7 • Currently only available to a closed group of users who contributed to the project’s crowdfunding. For more information: VTorrent Vtorrent aims to combine digital currency with torrents, creating an economy which will provide a higher quality and more reliable service.

This project is still at a relatively early stage so many of the details have not yet been ironed out, but the basic idea is to reward both uploaders and seeders, encouraging users to put in to the network more than they take out and thus ensuring both more content and faster speeds for all users. What this means is that you can use your disk space to host videos, music files and more, making them available to other users of the network.

BPMC Red Fury USB • 2.5 GH/s • 1.00 W/GH • 1.6 ounces • • • 0.00006672 • Overview - Table of Contents • • • • • • • • • Before we begin. Before you read further, please understand that most bitcoin users don't mine!

But if you do then this is probably the best deal. Bitcoin mining for profit is very competitive and volatility in the makes it difficult to realize monetary gains without also speculating on the price. Mining makes sense if you plan to do it for fun, to learn or to support the security of Bitcoin and do not care if you make a profit. If you have access to large amounts of cheap electricity and the ability to manage a large installation and business, you can mine for a profit. If you want to get bitcoins based on a fixed amount of mining power, but you don't want to run the actual hardware yourself, you can purchase a mining contract. Another tool many people like to buy is a which enables people to load a debit card with funds via bitcoins. What is Bitcoin mining?

Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.

Technical Background During mining, your Bitcoin mining hardware runs a (two rounds of SHA256) on what is called a. For each new hash that is tried, the mining software will use a different number as the random element of the block header, this number is called the nonce. Depending on the nonce and what else is in the block the hashing function will yield a hash which looks something like this: 93ef6f358fbb9d4c63735b7fe5bdaac821de96a53a9a You can look at this hash as a really long number.

(It's a hexadecimal number, meaning the letters A-F are the digits 10-15.) To ensure that blocks are found roughly every ten minutes, there is what's called a difficulty target. To create a valid block your miner has to find a hash that is below the difficulty target. So if for example the difficulty target is 0000 any number that starts with a zero would be below the target, e.g.: 0787a6fd6e0782f7f8058fbef45f5c17fe89086ad4e78a1520d06505acb4522f If we lower the target to 0000 we now need two zeros in the beginning to be under it: 00db27957bd0ba06a5af9e6c2a7028cf9a08fa125e49f15cae4979 Because the target is such an unwieldy number with tons of digits, people generally use a simpler number to express the current target. This number is called the mining difficulty. The mining difficulty expresses how much harder the current block is to generate compared to the first block.

So a difficulty of 70000 means to generate the current block you have to do 70000 times more work than had to do generating the first block. To be fair, back then mining hardware and algorithms were a lot slower and less optimized. To keep blocks coming roughly every 10 minutes, the difficulty is adjusted using a shared formula every 2016 blocks. The network tries to change it such that 2016 blocks at the current global network processing power take about 14 days. That's why, when the network power rises, the difficulty rises as well.

Bitcoin Mining Hardware CPU In the beginning, mining with a CPU was the only way to mine bitcoins and was done using the original Satoshi client. In the quest to further secure the network and earn more bitcoins, miners innovated on many fronts and for years now, CPU mining has been relatively futile. You might mine for decades using your laptop without earning a single coin.

GPU About a year and a half after the network started, it was discovered that high end graphics cards were much more efficient at bitcoin mining and the landscape changed. CPU bitcoin mining gave way to the GPU (Graphical Processing Unit).

The massively parallel nature of some GPUs allowed for a 50x to 100x increase in bitcoin mining power while using far less power per unit of work. While any modern GPU can be used to mine, the AMD line of GPU architecture turned out to be far superior to the nVidia architecture for mining bitcoins and the ATI Radeon HD 5870 turned out to be the most cost effective choice at the time. FPGA As with the CPU to GPU transition, the bitcoin mining world progressed up the technology food chain to the Field Programmable Gate Array. With the successful launch of the Butterfly Labs FPGA 'Single', the bitcoin mining hardware landscape gave way to specially manufactured hardware dedicated to mining bitcoins. While the FPGAs didn't enjoy a 50x - 100x increase in mining speed as was seen with the transition from CPUs to GPUs, they provided a benefit through power efficiency and ease of use. A typical 600 MH/s graphics card consumed upwards of 400w of power, whereas a typical FPGA mining device would provide a hashrate of 826 MH/s at 80w of power.

That 5x improvement allowed the first large bitcoin mining farms to be constructed at an operational profit. The bitcoin mining industry was born. ASIC The bitcoin mining world is now solidly in the Application Specific Integrated Circuit (ASIC) era. An ASIC is a chip designed specifically to do one thing and one thing only. Unlike FPGAs, an ASIC cannot be repurposed to perform other tasks. An ASIC designed to mine bitcoins can only mine bitcoins and will only ever mine bitcoins. The inflexibility of an ASIC is offset by the fact that it offers a 100x increase in hashing power while reducing power consumption compared to all the previous technologies.

Unlike all the previous generations of hardware preceding ASIC, ASIC may be the 'end of the line' when it comes to disruptive mining technology. CPUs were replaced by GPUs which were in turn replaced by FPGAs which were replaced by ASICs. There is nothing to replace ASICs now or even in the immediate future. There will be stepwise refinement of the ASIC products and increases in efficiency, but nothing will offer the 50x to 100x increase in hashing power or 7x reduction in power usage that moves from previous technologies offered.

This makes power consumption on an ASIC device the single most important factor of any ASIC product, as the expected useful lifetime of an ASIC mining device is longer than the entire history of bitcoin mining. It is conceivable that an ASIC device purchased today would still be mining in two years if the device is power efficient enough and the cost of electricity does not exceed it's output.

Mining profitability is also dictated by the exchange rate, but under all circumstances the more power efficient the mining device, the more profitable it is. If you want to try your luck at bitcoin mining then this is probably the best deal.

Bitcoin Mining Software There are two basic ways to mine: On your own or as part of a Bitcoin mining pool or with and be sure to. Almost all miners choose to mine in a pool because it smooths out the luck inherent in the Bitcoin mining process.

Before you join a pool, make sure you have a so you have a place to store your bitcoins. Next you will need to join a mining pool and set your miner(s) to connect to that pool. With pool mining, the profit from each block any pool member generates is divided up among the members of the pool according to the amount of hashes they contributed. How much bandwidth does Bitcoin mining take?

Newest Metaverse ETP ETP Miner. If you are using a for mining with a pool then the amount should be negligible with about 10MB/day. However, what you do need is exceptional connectivity so that you get any updates on the work as fast as possible. This gives the pool members a more frequent, steady payout (this is called reducing your variance), but your payout(s) can be decreased by whatever fee the pool might charge. Solo mining will give you large, infrequent payouts and pooled mining will give you small, frequent payouts, but both add up to the same amount if you're using a zero fee pool in the long-term. Bitcoin Cloud Mining By purchasing Bitcoin cloud mining contracts, investors can earn Bitcoins without dealing with the hassles of mining hardware, software, electricity, bandwidth or other offline issues.

Being listed in this section is NOT an endorsement of these services and is to serve merely as a Bitcoin cloud mining comparison. There have been a tremendous amount of Bitcoin cloud mining scams.: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.: Hashing24 has been involved with Bitcoin mining since 2012.

They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible. What is Bitcoin Mining? Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks.

The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere. Bitcoin mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady.

Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the proof-of-work function.

The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a 'subsidy' of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system. Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground. What is Proof of Work? A is a piece of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements.

It must be trivial to check whether data satisfies said requirements. Producing a proof of work can be a random process with low probability, so that a lot of trial and error is required on average before a valid proof of work is generated. Bitcoin uses the Hashcash proof of work.

What is Bitcoin Mining Difficulty? The Computationally-Difficult Problem Bitcoin mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network.

This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented.

See Proof of work for more information. The Bitcoin Network Difficulty Metric The is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes. As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.

The Block Reward When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply or use a. Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block.

In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income. Thanks Blitzboom and the guys from #bitcoin-dev for their help with writing the guide! Other Languages Arabic - Burmese - Chinese (Cantonese) - Chinese (Mandarin) - French - German - Deutsche Hindi - Italian - Italiano Japanese - Korean - Nordics - Polish - Portuguese - Russian - Spanish.