Computer Business Review

How to mine Bitcoin

by Joe Curtis| 07 February 2014

CBR’s easy step guide to becoming a cryptocurrency bazillionaire.

So. You know what a Bitcoin actually is. Now you want to get your hands on one.

No problem. Well, one problem: even a single bitcoin costs quite a bit of money (currently $809).

While you could go somewhere like to buy a fraction of a bitcoin, the more tech-savvy might be interested in trying their hand at mining it.

Mining is essentially a process of solving a series of increasingly difficult mathematical equations. Solving the current equation is rewarded with the release of a block of bitcoins - currently 50.

However, each time an equation is solved, the next becomes more complex. And because Bitcoin was created in 2007, the maths is now pretty tough.

That means more processing power is required to solve the latest equations, and even more in future, making the necessary outlay on hardware a tricky barrier to entry.

Don't worry though - we've made a list of useful steps to take to set you up as the next (legal) Ross Ulbricht.

Post a comment

Comments may be moderated for spam, obscenities or defamation.

Join our network

716 people like this.
1529 people follow this.


Buy the latest industry research online today!
See more

Suppliers Directory

Privcy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.