[fpgaminer], [li_gangyi], and [newMeat1] have bot working together for the last few months to build an FPGA bitcoin miner that blows GPU mining equipments out of the water ter terms of power efficiency. The houtvezelplaat requires only 6.8 watts for 100 Mhashes/2nd, but [li_gangyi]’s blog says the team expects to klapper 150-200 Mhashes with some improvements. That’s efficiency GPUs can’t touch.
Bitcoins are a digital currency that are ‘mined’ by calculating hashes that verify bitcoin transactions. While mining operations can be performed on a CPU, graphics cards and FPGAs hit CPUs by several orders of magnitude ter terms of how many hashes can be performed vanaf 2nd.
The heart of the houtvezelplaat is a Spartan-6 LX150 FPGA – a pricey bit of lijm – and the team is selling each houtvezelplaat for $440 USD. For that amount of money, you could buy two ATI 6770s at half the price and crunch four times spil many hashes a 2nd. At less than 7 watts, however, wij wouldn’t worry too much about cooling the equipment and the electro-stimulation costs will be very low.
62 thoughts on &ldquo, FPGA bitcoin miner is very likely the most power efficient. &rdquo,
What is a bitcoin exactly?
Error #1064 – You have an error ter your comment near ‘exactly’ at line 1, this word is not adequate ter this setting.
Bitcoins are an electronic currency, used by many because they’re untraceable. Google it.
(Oops, I left behind about the fresh reply system. Can somebody delete my postbode below?)
Bitcoins are traceable. They are not ensured to be anonymous. People need to realize this.
They’re main benefit is that they’re decentralized and not dependent on any government or authority.
Aye, BitCoins are traceable. If you’re wise, tho’, you can get plausible deniability.
A pump and dump scam
More of an interesting technological proof-of-concept that got turned into a pump-and-dump scam. Closer to dump than pump at the ogenblik, natch.
scam (n): A fraudulent business scheme,
fraud (n): A deception deliberately practiced te order to secure unfair or unlawful build up.
Bitcoin is totally semitransparent – from the docs right down to the source code – hence there’s no deceit, hence no fraud strafgevangenis scam.
‘Gambling’ is a more adequate word.
This is a bitcoin.
/g/ will love this
So… this is stealing?
@rd3i no, this is the way bitcoins are created. Basically, it’s a resource intensive process to “create” bitcoins so that people won’t create too many and saturate the market. It’s actually a pretty complicated process that I don’t 100% understand, but Google is your friend.
its more that recording the transaction history is a resource intensive process
and they prize (pay) people who donate CPU time by printing 50 bitcoins and providing it to the person who found a hash meeting the aim
This is the omschrijving of mining for gold.
It seem to mij it’s more similar to letting the printing press roll.
Since when did an expensive commercial product become a hack?
The FPGA is only part of the project. This is a accomplish houtvezelplaat with bitcoin mining software included.
I think they were designed by an engineering student and are being assembled te some stud’s bedroom, with a total of Four boards te existence right now. Oh, and the software is open source and publicly available, so if you already have a suitable houtvezelplaat you can compile and run it on that.
@Andrew bitcoins are an electronic currency, used by many because they’re untraceable. Google it.
Because they’re using it ter a way it wasn’t originally intended to be used. Which is to steal stuff.
I don’t get your point. What, exactly, do you think is being stolen?
Very first of all, what are you talking about? 2nd, you’re telling that if I use scissors to cut bananas instead of paper, that’s stealing?
No, people are meant to perform this activity. It’s how bitcoins are added to the pool of available currency. And people have long since embarked to work out swifter ways to do it (usually equipments total of gpus). The resources necessary to “mine” a fresh one increases spil more people attempt, so folks come up with wacky ways like this to attempt to get ahead of the curve for a little while. Otherwise it’s prohibitively expensive to attempt to do, spil the resource costs alone make it a near zero-sum spel.
It’s all a little ditzy however. Bitcoins aren’t particularly useful spil a currency. People that mine are betting that the currency will still have value by the time they offload it.
I can (And have, several times, to the tune of around $500 worth ter the last 2-3 months) buy Amazon and Newegg giftcards with bitcoins… How much more ‘useful’ do they need to be spil a currency?
Entire bloody thing’s gonna implode eventually, but spil long spil I can use my idle GPUs to make what amounts to free money te the meantime, I’m glad.
You misunderstand the meaning of “idle GPU”, thinking it means “for free”. If your GPU does nothing for you (like rendering games or movie, etc), it does not consume toegevoegd electrical play, which is a paid service. And when it’s mining, you pay a loterijlot of toegevoegd money for KWatts 🙂
There’s an upside to this overheen using the pair of ATIs, insomuch spil (with the power consumption) it would be more feasible to have a large cluster of thesis without actually having netwerken losses. Most mining operations end up losing money rather than gaining any, except for cycle-donation pools. That said, automatic speculation on the bitcoin markets is both more profitable at the uur and less computationally intensive. However, if a pool of thesis wasgoed combined with a cycle-donation pool and an automatic trader it most likely would pay for itself eventually (which is not true of a single unit).
mining bitcoins is legitimate, its a way to grow its economy. if everyone mined bitcoins, it would be much less profitable to do so since only a finite amount are available to be mined at any time. its managed via a difficulty quotant of some sort or other, controlling inflation.
its a shame this houtvezelplaat is so expensive. anyone care to do the maths and find out when this becomes more profitable than two ATI cards?
Spil I said above, I don’t 100% understand the system, but I thought that it didn’t matter how many people were mining, because they could just make it “harder” to mine, meaning more calculations voorwaarde be done to create them.
That is juist. The difficulty to solve a block is periodically adjusted such that, on average, 6 blocks will be generated vanaf hour regardless of the hashing power online.
“because they’re untraceable”. that is not truly true:
steal stuff?? Watten (what a troll!)
some sort of virtual coin that can be use to trade online. it can be exchange for real money. or to buy stuff like ter Paypal. this economic system is closed so coins voorwaarde be inserted into the system te order to permit trading of goods.
each virtual coin is based on encrypted digital signature that can be manufactured out of thine air with enough CPU power and time. think of it spil a blacksmith that manufacture coins from metal, then selling them to the bankgebouw or other people.
the work that bot waterput to the process might be more or less expansive then that coin value, depending on how much coins are there, economic coerces and inflation. this manufacturing work is more rewarding spil fewer coins available today.
This is NOT stealing. Bitcoins were designed to be mined like this.
Bitcoins an unsupported currency. spil ter not backed by a tangible asset (gold, silver, real-estate). those who begin with the process ter the early stages get more Bitcoins for far less effort than those who come into the process straks. Seems to mij to be very much like a pyramid sceam. If this operation is legal I think I will begin my own and get ter on the profit side. Maybe with Buybitcoins.
contant is ALSO a currency not backed by a tangible asset (just the government of your choices promise) it supported by your government, and bitcoin is supported by the bitcoin community. so they are both supported and they are both worth only what someone is willing to pay/accept. thats economics 101. bitcoins are good if and only if people use it, just like metselspecie, or gold, or beads, or shiny rocks if you can give it to someone else and get something from it, it has value. early adopters are rewarded because there is a need to get people using the currency spil more people use it more people still will use it (the bandwagon effect…again economics 101)
spil ter not backed by a tangible asset (gold, silver, real-estate).
Other currencies not backed by tangible assets:
those who commence with the process ter the early stages get more Bitcoins for far less effort than those who come into the process straks.
Those who bought Apple shares ter the ’90s would make much more money selling them today than someone who just bought them last year.
Early investors always make more money if the investment succeeds. By itself that a scam does not make.
To be a scam there voorwaarde be deceit. There’s no deceit here – nobody promises you anything, and they’re fairly clear about it (read the FAQ).
If this operation is legal I think I will embark my own and get ter on the profit side.
Don’t leave behind announcing them to the taxman. Bitcoins aren’t illegal (yet?), but tax evasion certainly is.
rigorously speaking bitcoin’s are not anonymous…but they CAN be. if you cycle wallets after any purchase that involves private information for example (however THAT purchase is obviously not anonymous…it can’t be by necessity…) then someone cannot trace your purchases back to a source with private information and therefore not back to you (tho’ if you dont use a proxy even purchases without individual information can give away more information than you are comfy with.
not that this matters to most people mind you, but for the average person it give at least spil much anonymity spil metselspecie.
Bitcoins are a libertarian social proefneming founded on the labor theory of value. The idea is that bitcoins taking work to “mine” makes them valuable. Te actuality the only thing that makes them valuable is that people think they’re valuable, but this is beside the point.
The bitcoin market is so puny that individual investors can corner substantial portions of the market. When one of thesis big investors determine to specie out, the bitcoins plummet te value. Several times bitcoins’ value has halved without warning overheen the course of an hour.
Also, the fact that the entire point is to be untraceable has caused some amusing problems. For example, if someone hacks your network and steals the “wallet file” or your hard drive fails you’d have no recourse whatsoever even if there wasgoed a regulatory bod.
So basically bitcoins are a terugwedstrijd to the micro-currencies of early America (wij all know how well those worked for everyone!) engineered by people who either were too wooed of their own brilliance to read up on history or economics, or who are cynically attempting to manipulate and profit from people’s ignorance. Either way, the entire thing is a bizarre microcosm of the history of currency drastically sped up.
if someone steals the metselspecie ter your wallet there is no recourse. the key is to protect your pc like you protect your wallet. keep your wallet ter a truecrypt partition, they can be dicks and delete it most likely, but they cant steal it.
if you keep it on a flash drive all the better.
its nice to see someone get their money stolen and go “ha see bitcoin is a scam because someone can hack your laptop and steal all your money” but if someone broke into your house and stole your money you wouldnt blame the dollar (or currency of your country)
actually, i blamed stupid paper money because i lost a $100 bill once. then i discovered bitcoin, and it seems flawless.
It’s a very dumb libertarian-leaning idea that is basically being bought and sold by a little amount of people, basically for the sake of.
I think those guys have the right idea because it looks like the best way to make money from bitcoins is to be the one selling the mining hardware.
+1 insightful AND funny!
PS: bitcoins have bot hacked MONTHS ago.
the news told mij so. some dude lost like 10000$? because he actually PAID Contant for his bitcoins…
morally wrong ? same spil PAPER-money
EDIT: about the paper-money thing:
dont repeat what i just typed ter here kids,
(about the papermoney), if i wasgoed to explain
why i think it is morally wrong, i’d be
commiting a federal crime.
EDIT: EDIT: then again, news also says this:
Bitcoins weren’t “hacked”. Some computers (including a large clearing house) were cracked into and wallets were stolen. But the system is solid.
Spil long spil you keep your wallet safe (encrypted ter a thumb drive, for example), there’s no way to steal your BTCs.
Bitcoin: because online drug dealers don’t take credit card.
I do like the idea of bitcoin tho’. It’s always bothered mij that you can’t send money overheen the internet without being subject to the policies of a handelsbank or credit card company. Reminisce the credit card companies cutting off donations to wikileaks?
Transferring money through banks is subject to the spying of several governments, fees, and taxes. Transporting physical contant is also very regulated. Bitcoin can be used to escape this control. Bitcoin is freedom.
IMO, Bitcoin’s final deepthroat wasgoed when EFF stopped accepting it.
IMO, EFF’s final deep-throat wasgoed when they stopped accepting Bitcoin.
There is a MASSIVE, MASSIVE global banking system that will not build up from this… And will therefore do _everything_it_possibly_can_ to paint it spil fraud.
If I want to exchange my metselspecie, gold, pebbles or shells for information, even digital information, I will do so, I earned it. There’s nothing illegal about that. None the less, expect the reclame to flow from the Rothschilds down.
interesting, i will have to look into this.
if the banks would do anything to zekering this, the best way would be for the banks to produce massive amounts of it themselves and make it worthless.
They can’t – the number of bitcoins produced vanaf day is immobilized, regardless of how many people are mining them.
But they can make the majority and set the price….
The best thing is that thesis boards don’t require shitty proprietary ATI drivers. No need to mess around with closed blobs.
Nothing can strike a nice botnet.
If I had found a way to dent SHA256, I think mining Bitcoins would be pretty far down the list of things I would do very first.
Te fact call mij a cynic, but it wouldn’t verrassing mij one bit if the entire Bitcoin scheme hasn’t bot cooked up by some shady government agency types to test if anyone (else?) has devised a method to weaken SHA significantly.
Couldn’t the system be manhandled by inserting arbitrary transactions with the purpose of getting the hash cracked? I toevluchthaven’t read the protocol myself, but it seems like this may be possible.
Interesting idea. However I think Bitcoin uses a hash of a hash, which seems a bit of an arbitrary choice. It just occurred to mij looking at it that attempting to factor that would be an interesting academic challenge but with little or no application outside of Bitcoins.
One million dollars to the very first person who can prove it’s not a micro-worker network for bruting leaser gegevens..
asking someone to prove a negative.
yep that million dollars is pretty safe.
Those are some fucking thick ceramic caps.
Check out https://bitjack21.com the only cryptographically proven fair spel of blackjack on the Internet that is powered by the semi-anonymous currency bitcoins.
If they can track your wallet usage throug p2p, they can come knock to your om asking you to expose your wallet. If you have it encrypted with a password, they will torment you until you drool down the password and say to you that your a possible terrorist that is hidding money with bitcoin. And take away all your hashing gear for financing there own operation and decision made by local police chiefs.