How To Mine Bitcoins And What Exactly Is Bitcoin GPU?

September 2, 2013

Will you do it for fun or are you aiming to make some good profits out of the venture? What bitcoin mining hardware will you use? Many people do this for the profits since bitcoins are very expensive. There is a long story behind bitcoins and how they started. It is alluded that one scientist who called himself Satoshi Nakamoto advanced the idea of mining Bitcoins, but the truth is that there was no Satoshi Nakamoto as this person used a pseudonym and never came forth to claim his place in the books of history. However, if you are not a coder or a programmer, then you may not be interested in the long coding story behind how to mine bitcoins and therefore, you just want to know the simple basics of how you can get started.

With people looking for an easier way to save their money secretly such that it cannot be taxed at will by the authorities as happened in Cyprus in the recent financial crisis, the process to mine bitcoins has become so important with time. Since only 21 million of them are allowed to be in circulation anytime, it means that with more demand and less supply, their value has simply risen soared. If you are looking for a way to mine bitcoins, this article will provide you with information about that. Where do you get started? What types of bitcoin mining hardware do you need to get started? These and more questions will leave you more enlightened about the whole process, without necessarily going into technical jargon.

Why do we use bitcoin mining hardware, and why do we call it “mining”? Because it can be arduous, only akin to extracting gold, diamond or oil from the bowels of the earth. However, if you can afford it, you can buy your coins from the market and that will simply drive their value up. You will do better to mine bitcoins and save money as you do it. Now, this brings in another aspect of the whole process. What bitcoin mining hardware will you use? You see, this process is hitched on the hardware rather than the software. The latest craze in the market is to go for GPU bitcoins.

Now, consider using the GPU as the bitcoin mining hardware because it has more advantages than using the CPU. You see, the process is so intensive such that if you use the CPU to mine bitcoins, you will have to stop doing anything else with the computer. However, with the GPU (Graphics Processing Unit), it is not the executive, or the central processing unit that controls all the other functions in the computer. It is also capable of doing higher megahashes per second. Megahashes per second is the rate by which the mining rate for bitcoins is measured. With the CPU for example, you will be able to do about 13 megahashes per second while with a Radeon Card or its equivalent is capable of doing 270 megahashes per second, while at the same time you can continue working with your computer. It is better to mine bitcoins than to buy.

Source: www.btcfaq.com