Saturday, 30 November 2013

Bit coin mining with the pi

I've been running minepeon for a week now with a usb asic 335mbs dongle and in slush's mining pool. In just over a week I have watched bitcoin s go from $700 a coin to over $1200 considering these started out at less than a dollar each a few years ago things have improved greatly, especially since silk row was shutdown where a lot of bitcoins had been traded. With the darknside currently shut down by FBI it means in theory that the bitcoins can now only be spent legally thus increasing their value and the recent price surge on mtgox bitcoin exchange.

So for a weeks work I've made only £2 and probably nothing after I take out electric, but I have a butterflylabs unit coming my way which will increase income by twenty times and therefore make some coin. Yes it be nice to make money from it, but I would like to do this for the longhaul as I see the price increasing much much higher yet.

1 comment:

  1. Just keep in mind that bitcoins are constantly becoming harder to mine. No matter how good the mining hardware is, it will become less effective over time as the difficulty increases.


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