How Does Blockchain Technology Work? January 24, Although it has no physical existence like gold doesit does have some bitcoin. How Does Bitcoin Mining Work? Jalapeno you can use the slider. After 5 month on 7. He wrote an e-mail asic which he literally threatened miner that he would sue the company both in the EU and in the US, as well as informing labs that they were breaking various butterfly.
NFL's new secret weapon for training world-class athletes: No, but I tracked down the donater - fulltimegeek - see his post here https: At the current Mt. The power draw is very low and this device should be profitable to run for a reasonably long time even if the BTC amount it earns is small. Butterfly Labs had initially promised something the size of a cup warmer, he says.
Butterfly recently viewed items bitcoin featured jalapeno. Indeed, an unofficial site has been set up to try and track the shipment queue. I miner tracking them down and calling them, to see if there was any flexibility in their delivery schedule, but I never got asic call or email returned. Labs could be a comfortable middle ground: However it did the job, as the product was intact. You will require a PC with an internet connection to run the mining software.
In bitcoin's case, its algorithm is interesting. Each bitcoin comes to life once enough challenging CPU-intensive calculations have been made.
Each bitcoin requires computational work to be expended in order to exist. This computational work is called "mining" because you have to grind and grind and grind processors to generate the numbers that become a bitcoin. Of more interest, especially in our little scam story, is that as time goes on, each bitcoin is harder to make. What might take, say, five million CPU cycles to make the th bitcoin might take 50 million CPU cycles to make the th bitcoin.
When I first got interested in bitcoin, somewhere in the middle of , it was almost impossible to mine bitcoin with conventional computers.
Even so, that's what interested me. Like every techie, I have a garage filled with old computers, old cases, a bin of spare motherboards, and so on. I figured it would be fun to rebuild these old machines into bitcoin miners. Filling a garage with money-making machines, what could be cooler?
But there was a gotcha to that plan. Bitcoin had gotten to the point where it would take far too long for a conventional PC to mine bitcoin. Just the power consumption vs. The new trend was building custom systems designed around the bitcoin architecture, with custom ASIC chips designed to calculate the bitcoin algorithm.
They were purpose-built machines designed to do nothing but mine bitcoin. Bitcoin mining operations were now measured in GHS gigahash per second. The core bitcoin operation is the hash calculation, so 1 GHS was one billion hash calculations a second.
Even at that rate, it could take days or weeks to mine a single bitcoin. By the end of , the bitcoin mining return-on-investment calculation had a number of variables: I had no intention of scaling bitcoin mining. My thought was it might be cool to fire up one machine, shove it in my air conditioned garage, and see if it made any money.
If it did, I might add more. Since using my old hardware was now out of the question, I started looking at where I could find bitcoin mining machines. Butterfly Labs, the now-notorious maker of custom-ASIC bitcoin machines, kept showing up on my radar. It appeared that if you were going to buy a bitcoin miner, that's where you had to go.
There were other vendors, but the more I looked into doing it at a profitable level, the more the tea leaves okay, the forums pointed to Butterfly. Want to make money mining bitcoins? Criminals have you beat. Bitcoins are becoming the "national currency" of criminals the world over and are becoming an increasingly poor investment for legitimate miners.
This is where my Spidey sense started to tingle. First, there was a waiting list for the machines. I wanted to do this project right then, not wait six months to do it. When I want to do a project, I want to do it right away. But the waiting list wasn't like your normal waiting list. You had to pay upfront, and then, when Butterfly Labs got around to shipping your machine, they'd send it to you. I firmly believe in the philosophy of don't charge until you ship.
The idea that Butterfly Labs was willing to take money upfront, and then -- at some unspecified time in the future -- ship the computer, well, that idea did not appeal to me at all. I did some additional research online and while some buyers indicated they liked the products from Butterfly Labs, others quite a measurable number of others were enraged that they hadn't gotten their machines after paying the full cost.
More to the point, there was some time-value-of-bitcoin math that was making me more uncomfortable with the prospect. Some of the machines Butterfly Labs was producing, if their gigahash per second claims were valid, would pay for themselves within a few months.
But, if it became necessary to wait three or more months, the complexity of the bitcoin calculation would increase, and those machines would no longer generate nearly the value they would at the time of order. In effect, by the time Butterfly Labs shipped the machines, they might not be fast enough to mine enough bitcoin to recover their cost, never mind generate any profit.
I fired up Excel and ran a bunch of spreadsheet simulations, using the GHS ratings provided by Butterfly Labs and factoring that against the constantly increasing difficulty of the bitcoin algorithm. Learn more about Amazon Prime. Interesting Finds Updated Daily. Share Facebook Twitter Pinterest. See All Buying Options. Unable to add item to List. Sorry, there was a problem. There was an error retrieving your Wish Lists. Have one to sell?
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The device I have is running with the case off with a better than stock fan. It runs cool at a temperature of about 37C. The heat sink is cool to the touch. You will require a PC with an internet connection to run the mining software. You can use cgminer, bfgminer or bitminter. It may run with others mining programs as well. Please note that these will vary and performance will also depend to some degree with which pool you are connected.
I think that the performance also depends at the temperature that it is running at and the additional performance that I am getting may be due to the open case and upgraded fan. The fan is an 80mm fan and replaces the stock 80mm fan.
Butterfly Labs BFL Bitforce GHS SC Bitcoin ASIC Miner BFG. Be the first to write a review. About this product. Picture 1 of 2; Picture 2 of 2. BFL Butterfly Labs Jalapeno ASIC Bitcoin miner SHA 5GH/s MH/s. Results 1 - 26 of 26 Jalapeno miner GH/s USB Butterfly Labs ASIC SHA Bitcoin. 1 used butterfly labs jalapeno bitcoin miner. Works perfect hashing as you read this. Comes complete with miner psu and usb. Mines between and Proof of work in pictures. You will receive the miner pictured. $ 26 bids. I'm thinking about getting a Butterfly Labs Jalapeno. From what I would run it using an EEEPc which draws about 10w on idle (assuming the miner does most of the work), so looking around: . The bitcoin mining scene just got way too "overheated" with ASIC manufacturers piling in the last 6 months.