To celebrate the release of Daft Punk’s Random Access Memories on 5/21 (next Tuesday) Stereo Chromatic will be streaming a special live broadcast from 10pm EST to Midnight via www.stereochromatic.com. Playing all of our Funk, Pop, Electronic, Hip-Hop and Dance favorites along with some original tunes from local Dayton artists. We will also be giving away copies of R.A.M. during the show but you have to tune in to win!
Bitcoin is a peer-to-peer electronic cash system. It’s purpose is to solve the double spending problem and 3rd party trust system that is inherit in most modern currency systems. It was first proposed by Satoshi Nakamoto in this paper – http://bitcoin.org/bitcoin.pdf.
Every 10 minutes, 25 Bitcoins are generated by the network. Every miner or mining pool is competing to find those 25 coins.
In 2017, that number will be halved to only 12.5 bitcoins being generated every 10 minutes.
The system can only create a total of 21 million bitcoins. This limit will be reached in the year 2140.
Bitcoin mining is basically a modern day computing arms race. Whoever has the most computing power essentially has a better chance of solving the blocks. Costs include hardware, internet connection and power consumption. To setup your own Bitcoin miner, check out our tutorial here.
First things first. You need to make sure you have the right hardware to mine. Check the link below to find your video card and make a note of its Mhash/s speed.
The recent Bitcoin surge has greatly effected the video card market prices. In general for GPU mining, you want a decent ATI Radeon HD card. Solving the hash is an integer operation and since most Nvidia cards do floating point calculations, they are not optimal for mining.
Ok, so now you have the right hardware. Next, you want to download Bitcoin-QT (http://bitcoin.org/en/
Sign up for an account at Slush’s Pool (https://mining.bitcoin.cz/) and create a worker. Go to My Account and copy in your Bitcoin wallet address and then write down your worker ID and password. Switch over to GuiMiner and add the worker. Make sure you have slush’s pool selected. Now you are ready to start mining! Press Start Mining and the app should connect to the pool and start doing its thing. You should see the hash rate at the bottom right and current shares on the left.
Remember when I said to take note of your Mhash/s speed? This is needed to set the difficulty of your worker. Go back to My Account at Slush Pool and edit your worker. Select your hash rate and the difficulty will be updated. You can also set this value on GuiMiner.
That’s it! Happy Mining!
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