Forum: Cryptocurrency

Bitcoin Mining 2015: ASICs, Difficulty, and More

Huge facilities all over the world are now packed with Bitcoin mining hardware. A single facility near the Arctic Circle in Sweden boasts 45,000 machines running around the clock.

Why? Well, if your computer finds the correct answer to a problem in computing a hash algorithm, your bitcoin wallet address is built into the answer with 25 more bitcoin. Also, your bitcoin address collects the transaction fees implicit in that answer. You get these additional bitcoin after 99 further blocks are built onto the system. Today, at $196 per bitcoin, the 25 new bitcoin are worth $4,900. So, there are good reasons to dedicate additional computing power to the task.

Bitcoin Mining continues to grow....

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