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Bitcoin and Its Possible Impact on Insurance
There are various hardware choices and methods to use to mine bitcoin. Whatever hardware and method you choose, you'll either use your CPU or GPU, an FPGA, or the new ASICs. With the current difficulty over 2 billion, using a CPU is just a waste of time and money. A good ATI video card can still get a decent amount of Bitcoin, but at this point you really need to use an ASIC, or buy shares of GH at the online mining sites, shown below.
For example, a decent CPU today can get 300Khps (Kilohashes per second), while a good GPU can get 500Mhps.
An FPGA might get anywhere from 100-800Mhps and higher, and an ASIC can get 4.5Ghps up to 1.5Thps! See the Mining hardware comparison wiki page for details.
Check out my Bitcoin ASIC Miners page for more info on ASICs.
Check the Bitcoin mining profitability calculator to see if your hardware or the hardware you're looking at getting is worth purchasing, and if the energy use will still make it profitable or not.
Since bitcoins can only be harvested when solving a block, it can take an individual months, even a year, to solve a block on their own. Unless they are running a huge mining rig with hundreds or thousands of Ghps, it's not really worth it. That is what is great about mining pools.
CEX.io - Bitcoin Commodity Exchange
The first commodity exchange to trade GHs (GigaHash per second) of their mining equipment. You earn Bitcoin based on how much GHs you have in your account. They also sell BitFury chips and futures contracts.
Bit-Mining is new and offers Bitcoin mining services. You can purchase GHs and begin mining right away!
Check out my guide on How to Mine Litecoin.
A mining pool is a group of miners all working together to solve blocks, and then sharing the rewards. The more work a user contributes, the bigger share of the bitcoins they get. This is great for most users.
I currently use CEX.io when I mine with my BFL ASIC since I can buy GH there instantly and add to my hashrate.
Multi-currency Mining Pools
Bitcoin Mining Pools
Litecoin Mining Pools
Dogecoin Mining Pools
Invest in Bitcoin and Mining
See the Invest in Bitcoin page.
Ok, now that you have a mining pool, it's time to install a miner. Here are some you can choose from. Some pools prefer a certain miner, so check the site to see which one you need.
The Litecoin client has a built-in miner, which is very convenient. I use this when I'm on Linux, and ScryptMiner when I'm on Windows.
Mining Through Your Browser
BitcoinPlus - Mine through your browser!
If you wish to run the miner and support the site, go here.
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