Now, 50 BTC will give you $ 434,000 each. A month ago, when the trading price was nearly $ 20,000, that so-called "hobby" could bring in millions of dollars.
Surprisingly the first value intended for bitcoin does not come from any big company from a hungry guy named Lazlo Hanyecz, in 2010 posted on the Bitcointalk forum with the subject: 'Change pizza get bitcoin? '
I will pay 10,000 bitcoin in exchange for some pizzas, maybe 2 big ones for the next few days. I usually save pizza to eat later. You can do it yourself and bring it to my house or call from some store .
Finally, there were people who accepted it and Hanyecz got a meal that 8 years later would cost $ 8.6 million.
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More importantly, in October 2010, the code for digging bitcoin using a GPU was widely released. As digging becomes more difficult, the need for better equipment also increases and that is when the GPU enters.
Previously you could dig virtual money with just one GPU
Digging a bitcoin with a GPU doesn't need any super skills. With several hundred dollars, almost everyone can do it and the calculation requirement is also low. But that soon changed when virtual money was noticed.
According to a study by Professor Michael Taylor from the University of Washington: "The effort to improve the computational speed by GPU has pushed the computation limit in very strange ways. The general standard has changed when 5 GPUs are used with 1. AMD motherboards are inexpensive, minimal DRAM, connect via 5 PCI Express extension cables to reduce motherboard costs and use power more efficiently for GPUs ".
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In the end, ordinary people can also make money with the blockchain's magic and encryption technology. Unless digging bitcoin becomes more difficult and the power requirement is too much for a hobby. By June 2011, the FPGA (Field-Programmable Gate Arrays) could become a trend.
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When FPGA is used for this particular purpose, digging is different. Its biggest advantage is less power consumption than simple GPU settings 3 times for the same task.
FPGA must quickly make way for the Application-Specific Integrated Circuit (ASIC) and Bitcoin from a hobby that has become an industry.
Now you have to invest in ASIC if you want to dig virtual money
While FPGA needs users to edit after buying, ASIC is created specifically for one purpose, here is to dig virtual money. That's why ASIC excavators are still standard.
Bitcoin's future is unpredictable and there are many other alternative currencies you can dig without having to spend millions of dollars on storage, machinery and electricity.
See more:
How to dig bitcoin without wasting electricity
Guide to digging Bitcoin for beginners
6 best Bitcoin digging software for Windows, Mac, Linux
the state bank has confirmed that the issuance, supply, use of bitcoin and other similar virtual currencies will be sanctioned for administrative violations ranging from vnd 150 million to vnd 200 million.
what is bitcoin faucet or bitcoin faucet? bitcoin faucet is bitcoin faucet, reward system, in the form of website, application. these bitcoin tubes will distribute rewards in satoshi format, a bitcoin currency, for visitors who have completed captcha or tasks requested by the website.
as the value of bitcoin is increasing, more and more people are interested in virtual currencies that are created based on bitcoin and have new features that bitcoin does not have.
chinese authorities have recently released a arrest warrant for a man after investigating that he stole electricity from an oil well for bitcoin mining.
10 years ago, the world's first bitcoins were born. since then, bitcoin has been fraught with hacks, steep price swings, and intense regulatory scrutiny.
recently, developers have discovered a critical security hole of bitcoin, even more dangerous than a 51% attack, which could cause the entire system of this cryptocurrency to collapse. .
effective extraction of cryptocurrency will save you money and resources. the trick is to maximize the speed per watt or reduce the overall energy of the system. below are the component and configuration settings needed to maximize the energy performance of computers that help ethereum cryptocurrency mining.
when talking about blockchain there is still much controversy. some people worry that bitcoin may be just a bubble, many people believe that technology behind it is a breakthrough, and that technology will continue its path until it is accepted and integrated with the internet. .