Apr 16, 2013

How to mine bitcoins?

The ups and downs of bitcoins has been the focus of a lot of ink over the past month or so, but there is one thing that never seems to be fully addressed: Where do you get bitcoins in the first place?

Here's a good background article on mining bitcoins.


"Mining, or generating, is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to respend coins that have already been spent elsewhere.

Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block."
After bitcoin's loss in value earlier this week, I don't know if you are still interested, but if you are:

How to mine bitcoins:

How to get them the old fashioned way (buy them):
Answer this