I am planning 2 x 290x for bitcoin mining. Of get ASIC. I saw one 400GH/s for just 2.5K USD.
Use GPU to mine scrypt coin, use ASIC to mine bitcoin.
Unless new cgminer software can optimise 290x to raise speed to 1000 kh/s, get 7970 or 7950. They are the best p/p currently.
what is all these about?
any1 can explain in a few line or make into layman term?
why mineing require so much gpu power and not cpu ?
it is like how ppl use Firepro or Quadro card instead of CPU
for more info
whitepaper
http://bitcoin.org/bitcoin.pdf
Abstract. A purely peer-to-peer version of electronic cash would
allow online
payments to be sent directly from one party to another
without going through a
financial institution. Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of the sequence of
events witnessed, but proof that it came from the largest pool of CPU power. As
long as a majority of CPU power is controlled by nodes that are not cooperating to
attack the network, they'll generate the longest chain and outpace attackers. The
network itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the network at will, accepting the longest
proof-of-work chain as proof of what happened while they were gone.
