We come across innovative concepts everyday. Bitcoin is one of them which has gained a lot of popularity over the last few months.It's a crypto currency and a new virtual monetary unit for exchanging goods and services with others in the P2P network.

How do you earn Bitcoins?

This is the interesting part for the tech savvy people. You earn Bitcoins by investing your CPU/GPU clock cycles to use. The more work your hardware does to create a Block of Data, the more you earn! This is indeed good and you have a complete control over it.

How much can you earn?

If you have a latest CPU or a GPU, then you stand a good chance to earn Bitcoins. You can either work on a Block of Data from Bitcoin Network in a Solo mode or be a part of the many pools out there and work along with other miners to build up a block of data.

In the early phase of 2011, when not many were aware of Bitcoin and how to mine them. We did not have many participants who were putting their GPU cycles to use this way. As a result, the difficulty was less and you stood a better chance to earn more Bitcoins.

As the word spread around, more and more users started building up GPU Clusters just to mine Bitcoins.

What are the factors to be considered?

When the Bitcoin Mining Concept started, a new single GPU Core would be sufficient to earn a good amount of Bitcoins.

But today, you don't stand a chance to mine Bitcoins with a single GPU Core. There are people building up Bitcoin Mining Rigs with many GPUs working in parallel.

The way I see it, the probability of you making Bitcoins is directly proportional to how superior your GPU hardware is compared to others.

You get a share of Bitcoins proportional to the amount of work done by your GPU hardware.

Let's look at some stats now. There are various Bitcoin Mining Calculators setup online that give you a projected estimate of how many Bitcoins you can earn depending on your Hash Speed.

Source: deepflash.blogspot.com