10 Jul '13, 10am

Portrait of a Bitcoin miner: How one man made $192K in virtual currency - TechHive #bitcoin

Portrait of a Bitcoin miner: How one man made $192K in virtual currency - TechHive #bitcoin

For all the attention that Bitcoin receives in the news , the most interesting peculiarity of this crypto-currency has largely been ignored. Sure, we’d all like to know whether the currency will ultimately succeed without any ties to a real-world economy. And Bitcoin’s rapid fluctuation in value over the past six months has certainly turned some heads. But how Bitcoins are actually created is all too often overlooked. The currency isn’t minted at will in a factory setting. Bitcoins don’t just magically appear out of thin air. Instead, they’re the products of complex software algorithms that run day and night on incredibly powerful computers. So who, exactly, has the pioneering spirit to “mine” the virtual currency, converting CPU and GPU cycles into something of real-world value? Part of Eric's GPU-based mining rig. It takes time, dedication, and an extraordinary amount of...

Full article: http://www.techhive.com/article/2043985/portrait-of-a-bit...

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Portrait of a Bitcoin miner: How one man made $...

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For all the attention that Bitcoin receives in the news , the most interesting peculiarity of this crypto-currency has lar...

Portrait of a Bitcoin miner: How one man made $192K in virtual currency

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