Miner problem: big changes are coming for Bitcoin's working class

theverge.com 16 Nov '12, 2pm

Miner problem: big changes are coming for Bitcoin's working class

Bitcoin has been described as cash for the internet, but gold is a more appropriate analogy. Anyone can "mine" Bitcoins on their own computers by running a program that’s designed to produce a 64-digit number in a resource-intensive way. This program randomly computes a cryptographic "hash" over and over until the result is below the number the network is looking for. The network rewards the first miner to get the right answer with 50 Bitcoins and then the process starts again. Only 21 million will be created in total, mimicking the scarcity of a precious metal. The race to mine them has attracted a rush of digital ‘49ers. There are many, likely thousands, like O’Shea.

Full article: http://www.theverge.com/2012/11/16/3649784/bitcoin-mining...

Tweets

@kylesturgeon » 10 Dec '12, 7pm
Interesting piece on 'mining' Bitcoin, especially after re-reading Daniel Suarez's first 2 books. [link]
@brunosalvino » 10 Dec '12, 12am
@jovemnerd "Decay": longa-metragem sobre zumbis, criado por físicos e filmado no LHC. [link] [link]
@nicoboettcher » 04 Dec '12, 11am
Se vienen cambios para la minería de bitcoins. Atentos chicos de la deepweb! [link]
@JumpCutEnt » 29 Nov '12, 10pm
RT @lisaelau: A closer look at Bitcoin [link] via @verge
@lisaelau » 29 Nov '12, 10pm
A closer look at Bitcoin [link] via @verge
@twiteis » 23 Nov '12, 3pm
@luizcruz Não. Apenas comprei alguns. Pra quem deseja entrar no mundo da mineração, recomendo ler: [link]
@twiteis » 23 Nov '12, 2pm
@mrquinta @danieldrehmer @andrevilas Pra quem deseja entrar no mundo da mineração, recomendo ler este artigo: [link]
@alfonsotames » 20 Nov '12, 4pm
El exótico mundo del Bitcoin Mining: [link] cc @AlfredoNarvaez @oso
@BitcoinOz » 20 Nov '12, 8am
Adrianne Jeffries - Miner problem: big changes are coming: [link] #bitcoin
@watsonwelch » 19 Nov '12, 10pm
Bitcoin prospecting. [link]
@clarenattress » 19 Nov '12, 6pm
RT @ManBartlett: Fascinating RT @adrjeffries: The hard life of a #Bitcoin miner: [link] via @verge
@faridzenon » 19 Nov '12, 1pm
aku masih tak faham macam mana orang boleh terima mata wang ni untuk jual beli -The Verge: [link] #fb
@philclandillon » 19 Nov '12, 11am
Fascinating article about Bitcoin "miners". I knew a bit about the currency already but I had no idea this was going on [link]
@TomWhitwell » 19 Nov '12, 11am
MInd-bending piece from @adrjeffries on Bitcoin mining [link]
@mwilliams1q23 » 19 Nov '12, 3am
Interesting article on Bit Coins. All desire to get involved have been squashed. [link]
@Trique303 » 18 Nov '12, 10am
RT @Urbster: Chips die nur fürs Bitcoin-Mining hergestellt wurden. m( [link]
@Urbster » 18 Nov '12, 9am
Chips die nur fürs Bitcoin-Mining hergestellt wurden. m( [link]
@thejedi » 18 Nov '12, 3am
This is pertinent to my interests... perhaps yours... if you like bitcoin [link]
@mike_br » 17 Nov '12, 11pm
[link] BITCOINS
@JamesDiGioia » 17 Nov '12, 4pm
Bitcoin is really a fascinating concept, and these changes are no different: [link]
@matthall2000 » 17 Nov '12, 3pm
Bitcoin miners: This is amazing and bizarre and possibly sad. Feels like the future though. [link] via @verge
@KristoferBratt » 17 Nov '12, 9am
En kopp kaffe och lite kuriosa smakar alltid gott [link]
@mcbridematt » 17 Nov '12, 2am
Bitcoin mining transitioning to ASICs: [link]
@JeffreyNewman » 17 Nov '12, 2am
RT @agylover: @JeffreyNewman bitcoin mining made complex [link]
@Pyramining » 17 Nov '12, 1am
Get ahead of the revolution with #pyramining [link] [link] #bitcoin
@decryption » 17 Nov '12, 1am
I should have been a bitcoin miner [link]
@BitcoinOz » 16 Nov '12, 11pm
RT @BitcoinAU: The Verge has a feature article on Bitcoin Mining:... [link]
@BitcoinAU » 16 Nov '12, 11pm
The Verge has a feature article on Bitcoin Mining:... [link]
@eebrah » 16 Nov '12, 10pm
@dennisMungai [link]
@seanrioux » 16 Nov '12, 9pm
Fascinating read on the bitcoin gold rush. We live in a sci-fi novel. [link] via @verge
@agylover » 16 Nov '12, 9pm
@JeffreyNewman bitcoin mining made complex [link]
@adrjeffries » 16 Nov '12, 8pm
If you missed it earlier, today's #btc pun and story. Miner problem: big changes are coming for Bitcoin's working class [link]
@Rahaaaaat » 16 Nov '12, 5pm
Holy shit we are living in the future [link]
@snginther » 16 Nov '12, 5pm
RT @joshuatopolsky: Miner problem: big changes are coming for Bitcoin's working class [link]
@beala » 16 Nov '12, 4pm
RT @adamgurri: Miner problem: big changes are coming for Bitcoin's working class [link] via @verge
@jadabeetle » 16 Nov '12, 4pm
A couple of good articles about Bitcoin mining and ASICs [link] [link]
@3spressomachine » 16 Nov '12, 4pm
Miner problem: big changes are coming for Bitcoin's working class: That's absurd," Guo recalled on a recent bliz... [link]
@Blacklisttv » 16 Nov '12, 4pm
Looking for a new career? Mine Bitcoin. [link]
@clifreeder » 16 Nov '12, 3pm
This seems smart: "I would estimate that a majority of the Bitcoin network was built off of credit card debt." [link]
@ManBartlett » 16 Nov '12, 3pm
Fascinating RT @adrjeffries: The hard life of a #Bitcoin miner: [link] via @verge
@psdwordpress » 16 Nov '12, 3pm
#wordpress Miner problem: big changes are coming for Bitcoin's working class [link]
@FintechBot » 16 Nov '12, 3pm
Miner problem: big changes are coming for Bitcoin's working class [link] by @Verge #FinTech
@charleslaw » 16 Nov '12, 3pm
Interesting read “@verge: Miner problem: big changes are coming for Bitcoin's working class [link]”
@trufae » 16 Nov '12, 3pm
RT @BitCoinReporter: Miner problem: big changes are coming for Bitcoin's working class - The Verge [link] #bitcoin
@USAgadgetnews » 16 Nov '12, 3pm
Miner problem: big changes are coming for Bitcoin's working class [link] #Gadget #News
@geekstove » 16 Nov '12, 3pm
Miner problem: big changes are coming for Bitcoin's working class [link] #tech #IT #fb #geek
@OnlireeksTech » 16 Nov '12, 2pm
#Tech Miner problem: big changes are coming for Bitcoin's working class [link] #Onlireeks
@evanrodgers » 16 Nov '12, 2pm
What drives Bitcoin anyway? Uncover the gritty reality of the internet's digital currency in this in-depth report - [link]
@viafoura » 16 Nov '12, 2pm
RT @verge: Miner problem: big changes are coming for Bitcoin's working class [link]
@piyachattt » 16 Nov '12, 2pm
Miner problem: big changes are coming for Bitcoin's working class: New chips from Butterfly Labs, a l... [link] via @verge