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Latest Shipment of Avalon ASICs Could Increase Bitcoin Network Hashrate By 500%

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. As TGB forecast back in May, the first shipments of Avalon’s ASIC chips have started arriving. Images were posted on BTCMan.com and the bitcointalk.org forums showing large quantities of chips arriving at a warehouse. The photographs were release by Fujian Yan Tan, a retailer of Avalon ASIC boards, who plans to resell the ASIC chips after mounting them in the boards. Low estimates for Avalon’s total shipped mining speed range from 105 TH/s to almost 1,000 TH/s. Low Estimates Are 105 TH/s, Likely Much Higher Although slightly …

Jul 11, 2013 Posted by Phillip Archer In Mining, News Tagged ASIC, Avalon, Bitcoin, Bitcoin Mining Dashboard, Creation, Lucrative Business, network speed, TH Comments 8

Bitcoin Network Speed 8 Times Faster than Top 500 Supercomputers Combined

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. The bitcoin network hashrate estimate on bitcoinwatch.com passed 1 exaFLOPS (1,000 petaFLOPS) this week – over 8 times the combined speed of the top 500 supercomputers. Experts will be quick to point out that this estimate is flawed, since no FLOPS are actually used in bitcoin mining. FLOPS stands for FLoating-point Operations Per Second, and is frequently used as a standard to measure computer speed. Bitcoin mining uses an integer calculation and almost no floating-point operations, so converting bitcoin network speed to this standard is …

May 12, 2013 Posted by Phillip Archer In Featured, Mining, News Tagged ASICS, Bitcoin, Bitcoin Mining Dashboard, Creation, FLOPS, LINPACK, network speed Comments 69

ASIC Miner Auction: 10 Block Erupter Blades

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. UPDATE (4/20): The winners have been announced, and paid ฿75-76 each for each of the cards. This netted shareholders an estimated 0.00188 per share. Friedcat has announced this is only the first of a series of auctions so ASIC Miner share holders can expect these special dividends more frequently in the coming weeks. Update 2 (4/27): The second round of auctions just completed. 50 blades were sold in a price range of 50 to 65 BTC each. ASIC Miner, the first public ASIC mining company, has …

Apr 17, 2013 Posted by Phillip Archer In Mining, News Tagged ASIC, ASIC Miner, Bitcoin, Creation, Mining Reddit, PC, Quick Installation, trading, UPDATE Comments 1

The Evolution of Mining

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. This is the second part in a 4 part series discussing the current state of bitcoin mining: What is bitcoin mining? The evolution of mining Current ASIC Hardware Bitcoin mining – public companies There have been four significant phases of mining since Bitcoins inception on January 3rd, 2009: personal computer’s processors (CPU), graphics cards (GPU), programmable cards (FPGA), and ultimately fully customized circuits (ASIC). We’ll discuss these in context of the bitcoin eco-system, and as a preface for our next two sections on ASIC hardware …

Apr 2, 2013 Posted by Phillip Archer In Bitcoin 201, Mining Tagged Application-specific integrated circuit, ASIC, Bitcoin, Bitcoin Mining Dashboard, Central processing unit, CPU, Creation, Field-programmable gate array, Gensis Block, GPU, Graphic Processing Units, History, NVIDIA, software Comments 2

What is Bitcoin Mining?

Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. This is an introduction to the concept of bitcoin mining – the process of verifying transactions on the bitcoin network. I wanted to publish the first series of posts about the current Bitcoin mining environment, but that seems like it would be fairly challenging to do without first doing an overview of what mining is. I’ll try and keep this as short as possible, but it’s definitely the most complex aspect of the bitcoin system. This is the second part in a 4 part series …

Apr 2, 2013 Posted by Phillip Archer In Bitcoin 201, Mining Tagged Bitcoin, Bitcoin Mining, block, Block chain, chain, Creation, Hash function, ID, Miner, SHA, transaction Comments 2