What are Bitcoins?
“A decentralised digital currency”
A bitcoin wallet program (in Qt) in the process of downloading the entire blockchain (a shared public transaction log where all confirmed transactions are included).
This takes a while (over 6GB) and it is quicker to sign up for wallet somewhere else eg coinbase.com
When I send a coin What happens?
A Transaction is a transfer of value between bitcoin addresses that gets included in the blockchain. All transactions are broadcast between users and confirmed by the networks through mining.
What is Bitcoin Mining?
A process that helps manage bitcoin transactions as well as create new “wealth” ...."
A distributed consensus system that is used to confirm waiting transactions by including them in the blockchain.
What is the difference between GUIMiner (where I’m mining through slush’s pool) and the Bitcoin wallet program?
ie will the BitCoin wallet program help the whole process too.. does it mine?
http://techcrunch.com/2013/04/08/how-to-mine-bitcoins/ - good simple article on how to
good history on mining
GPU - ATI Radeon HD 5870 turned out to be the most cost effective at the time (50 - 100x increase in mining power)
FPGA - Field programmable gate array (less power eg 400W GPU to 80W FPGA at 826MH/s)
ASIC - Application specific integrated circuit.. 60GH/s for 60w
Mine using java on a website
http://www.bitcoinplus.com/generate - have generated a tiny bit of BTC buy can’t transfer as there is a 0.01BTC fee
doing 1.5MH/s on i7 laptop - no graphics card usage
CGMiner - python OpenCL bitcoin miner
i7 laptop - NVidia GeForce GT 550M
try running rpcminer-cuda -aggression=8 - for pool mining
Guiminer - python
doing 17.7 MH/s on via slushes pool (only on GPU and 1 CPU)
work - 2* MSI R7970
try CGMiner or GUIMiner?
http://bitclockers.com/ - a bitcoin mining pool (not accepting new)
https://mining.bitcoin.cz - aka slushs pool
http://preev.com/ - bitcoin converter
18MH/s are being done on my laptops graphics card
1.5 MH/s were being done by the java app on 8 CPU’s