Bitcoin Mining with USB Block Erupters on Raspberry Pi

This entry is part 4 of 4 in the series Block Erupter ASIC Mining

It’s December 24th and I know you are all eagerly anticipating Santa. Guess what, this year, I am Santa and, boy, do I have a present for you, my readers! And what can be better than (you know it!) an article on how to set up your very own mining rig with Block Erupters on Raspberry Pi. Incidentally, the steps documented here would work for any type of ASIC mining with minor modifications. Mining Rig Components Raspberry Pi Raspberry Pi is pretty much the ideal platform for …

Bitcoin at $1,000. Litecoin at $25. Enough said.

Bitcoin hit $US 1,000 on MtGox. Bitcoin is experiencing a meteoric rise which has become characteristic of the value of this most prominent of crypto-currencies. If this particular spike is similar to previous ones, we will see BTC going up and then dropping about 30% of the value and stabilizing between resistance floor and ceiling. The skyrocketing bitcoin is pulling up other crypto-currencies, most prominently LTC that is now trading at $US 25 on BTC-e. …

Pirates, and Hackers, and Gambling. Oh, my!

Ahoy, lad, its money after all August 2013, Texas. Trendon Shavers (a.k.a. Pirateat40), owner of Bitcoin Savings and Trust, is being sued by Securities and Exchange Commission (SEC) over claims that he swindled his investors in a Bitcoin Ponzi scheme. Shavers, who tried in his defence to represent the argument that Bitcoins investments are not a subject to U.S. law regulations, is not too happy with the judge’s Tuesday’s ruling: “Bitcoin is a currency or form of money, …

Bitcoin Securities – A New Frontier

This is a guest post by Duncebucket, professional trader/investor on the TSX/NYSE with a special interest in bitcoin and investments denominated entirely in BTC. Understanding Bitcoin Securities Bitcoin, the decentralized virtual currency which has long remained the interest of hardcore enthusiasts, has witnessed an explosion in popularity over the course of 2013. With the ensuing media coverage and rapid price appreciation the infrastructure behind the currency has moved beyond …

Mine Litecoin with Block Erupter ASICs

This entry is part 3 of 4 in the series Block Erupter ASIC Mining

I often get asked the following question: “Is it possible to mine Litecoin with Block Erupter ASICs? The answer is: Unfortunately it’s not possible. Let me explain in more detail. Bitcoin is based on SHA256 algorithm. Block Erupters use ASICMiner chips designed to do one thing – calculate double SHA256 hash. This specialization allows them to be highly efficient at Bitcoin mining and consume minimal amount of electricity. They can also be used to mine alternative coins based …

Hybrid Mining Bitcoin and Litecoin

This entry is part 2 of 4 in the series Block Erupter ASIC Mining

I recently realized is that I am in a somewhat unique situation. Since I’ve combined both GPUs and ASICs in the same mining rig, I have capability of mining Bitcoin and Litecoin, and also a  full spectrum of other cryptocoins on a single machine. Today I will show you how to mine Bitcoin and Litecoin using a hybrid GPU/Block Erupter ASIC mining rig. The article assumes that you already have a good understanding of mining. If you are just starting out and don’t have experience, …

Top 10 Terms for Bitcoin Beginners

This article is a guest post by DrWe, author of coinblog.ca. Techies are like superheroes to me. They have special powers and speak a foreign language. Computer gurus are not actually geeks, but gods of the information age, and I feel inferior in their presence, like I need to kneel and bow or something. Tech-savvy individuals possess a powerful and intimate knowledge of the cyber-universe, and although I can’t prove it, I think many of them make love to their computers at …

Canada is a Bitcoin Mining Leader

Bitcoin – a distributed digital currency – doesn’t get created by fiat (government’s order). Instead it is generated via a process called mining that uses computers to perform cryptographical calculations. Just like real world mining, Bitcoin variety is tough, so people form mining pools and contribute their collective computational (also called hashing) power to the pool in exchange for a share in virtual bounty. If you need more information on basics of mining or how to get …

Block Erupter ASIC Miners are Here!

This entry is part 1 of 4 in the series Block Erupter ASIC Mining

Two days ago I got two USB Block Erupter ASIC miners in the mail that I ordered last week from wtcr.ca.   This may not seem like a very exciting thing to those of you who have already been using Avalons, Jalapeno’s and Erupters. For me, though, this is the first foray into ASIC mining, and I am as excited as this guy. The Erupters came in neat little packages well protected from roughness of a typical postal delivery, in stark contrast with Butterfly Labs shipping fiasco. …