Build your own Bitcoin Cloud Miner!

CEX.IO is the first and leading commodity exchange in the Bitcoin community. You can buy or sell GHashes, Futures Contracts for the Bitfury ASIC chips or just trade on the increase or decrease of chip values.

They are the first exchange that offers an opportunity to buy GHashes and avoid all the usual problems you can face when buying mining equipment, like the frequent delays in delivery, breakage losses, the need for a sufficient power supply or cooling devices, and many other things, that you will probably encounter.

Will You Be Buying Your Next House With Bitcoins?

Will You Be Buying Your Next House With Bitcoins?

Bitcoin ATM in Canada

RAW: World's first bitcoin ATM user

Looks like BitCoin ATM's are available in Canada. I wonder if this would ever happen in the United States.

http://www.cbc.ca/player/Shows/ID/2415018776/

Difficulty - The bane of Bitcoin Mining

Well, I already knew that as difficulty went up that it would make mining harder and decrease my Bitcoin earnings.

However, I didn't expect it to drop this rapidly.

As you can see on http://bitcoindifficulty.com/, the difficulty seems to be quickly rising to infinity.

I'm unsure how this is going to affect me in the long run.

Upgraded My Miner

Ordered some more USB ASIC Miners. I'm right around 3.6 Gigahash now. With the current exchange rate I'm producing about $4 in Bitcoins per day.

Still not enough to get rich with or even enough to really feel it's a business, but some exra money is a good thing.

Peer to Peer Bitcoin Lending

Found BTCjam, a site that does Peer to Peer Bitcoin lending. I've made some micro-loans already and have posted some minor loans to show activity and posted a loan to pay off and upgrade my Bitcoin Miner.

More info on BTCjam can be found on Facebook, Linkedin, and Twitter.

My First Bitcoin Miner

Started a Bitcoin miner about a week ago. Had a old laptop and figured I'd try to make some cash with it.

Knowing that a graphics card in a laptop isn't robust enough, I started searching for a way around this issue and discovered ASIC miners, thanks to the Mining hardware comparison page on the Bitcoin Wiki.

Wanting to start small I went with 2 Block Erupter Sapphire made by ASICMINER. These are currently available at the BTCGuild store for 0.6 BTC however, I paid to much for my first one via Amazon. I also ordered an ARTIC Breeze USB Fan and a Satechi 12 Port USB Hub. In retrospect,the choice of USB hubs may also be in error, being that the Block Erupter draws 2.55 Watts and the hub is only powered at 10 Watts. This tells me the hub can't support over 4 Block Erupters, but time will tell.

I'm currently running 2 ASIC Block Erupters and over the week, I've been producing .0009 Bitcoins a day. Not enough to get rich, but comes out to about $30 a month and pays just a hair over half of my Internet bill.

For my mining pool, I'm currently using BitMinter.

Storing your Bitcoins

Bitcoin's are stored in a wallet.

Your Bitcoin wallet lets you transact with the world. It gives you a Bitcoin address that can receive coins from other users and lets you send those coins.

Similar to email, you can receive Bitcoins when you are offline, and all wallets are compatible with each other.

Wallets are Software, Mobile and Web based. They can also be combination of several types.

Some examples of wallets are:

Coinbase and Blockchain.info are both popular Web and Mobile wallets.

Other options are available here.

What is Bitcoin?

From: http://www.weusecoins.com/