Thursday 21 November 2013

Bitcoin mining on the pi

After reading about the recent hike in bitcoin prices, a decentralized banking system, i took the plunge and purchased a bitcoin miner usb. I have also downloaded MinePeon for pi which im in the process of setting up and have also set up a account with Coinbase Donate Bitcoins I know im not going to become a millionaire with this but its an interesting little project which i will blog about as i go on my adventure. Donate Bitcoins

2 comments:

  1. I've dabbled with bitcoin mining before, back when it was possible to do it with just the standard video card in my computer. Recently, I got the itch again, and ordered 4 of the Block Erupter usb devices. I set my pi up to run them all 24/7 and joined them to a mining pool. I had a few glitches at first which caused some downtime, but I'd say it's been up and running for a total of around 2 weeks now. In that time, I've earned almost .02 BTC.

    Fortunately for me, I unknowingly timed things just right, as I only paid about $12 for each block eruptor. Since the value of BTC has skyrocketed in the last few weeks, they devices are much more expensive now. If my mining continues earning at the same rate and bitcoin values stay about where they are now, I figure I should hit break-even on the adapters around mid-January. If I do, that's a bonus. It's not often that a little toy project ends up paying for itself...

    ReplyDelete
  2. I've got an erupter at moment but have ordered a red bit fury which should be here in a couple of weeks. I know its gonna be hard to earn money with them, but it would be nice to earn a couple of bitcoins so I can say I was there so to say. Anything else I make will just be used to upgrade equipment or buying raspberry pi stuff just like any money earnt from the adverts on my blog (hint hint please click) ;)

    ReplyDelete

Please feel free to comment would love to hear your ideas.