Bitcoin Mining Hardware

Bitcoins are gaining more and more credibility and made their entrance in almost all domains. This is a reason for users to continue bitcoin mining and for companies to keep producing bitcoin mining rigs.

Now you have the possibility to pay for your news in bitcoins. ‘The Neighborhood Times’ is an online newspaper, but for reading its articles you have to pay a very small amount of money. Of course this articles are worth reading and you won’t be bombed with advertising during your reading.

A guy invented a platform that can be used by any blog owner that wants to ‘sell’ his blog posts.

The payment possibility is given by a platform designed for creating microtransaction-based paywalls on your blog content portal. The site will add only basic functions to your blog. Clicking on a link brings a pop up window asking for a few cents to read a post. You can also buy hours worth access or a day pass. This requires access and understanding bitcoin system or you could also pay in another currency also.

The app was launched using BitPay api, a service that allows for nearly seamless bitcoin integration. They provide a full tutorial on how to implement the platform. It is an open source project and the code was released a few days ago.

There are argues that bitcoins are merely a store of value in the same way that gold has been used in the last years. If we think about it in this way then there is not a currency as an investment vehicle and that might be the most dangerous line of thinking.

If we refer to gold we might describe it as a physical asset whose value over centuries has been dictated by its supplies  and demand, and by government intervention, of course.

We can refer to bitcoins in many ways and we can call them things, but none of them is tangible. Unlike, money, the storage of bitcoins is defined by servers, not by vaults, and the value of bitcoins is set using algorithms and not production.

If you are trusting in bitcoins to provide a store of wealth over the next years it means you are putting a tremendous amount of faith not only in a complex algorithm but in network servers and systems whose security can be doubt.

Bitcoin mining is a job for some people nowadays, bitcoin being the only income for them. Maybe some believe that bitcoins will make them rich like the people who own gold and are willing to invest in expensive bitcoin mining hardware. This are the people who will ensure bitcoin survival.

Like any other new and attractive  technology the bitcoin mining hardware had a fast rising. The reason is this virtual currency called bitcoin that drove everyone insane. Even there were more sceptics a lot of people embraced the idea and started using their own computers for mining or invested some money in a source of power like a GPU or a FPGA.

Preventing the magnitude of the event the leader companies in the field started selling dedicated bitcoin mining hardware even before they were produced. A lot of pre-orders were gathered and the most shocking thing was that the 1500 gh/s BitForce Mining Rig SC produced by Butterfly Labs that has a cost of approximately $60.000 sold out shortly.

Maybe there are some insane people in this world afterall or maybe there are just a lot of entrepreneurs. The thing is that reading the description for this hardware you can understand way it was sold before it was out from the production line. The mining rig comes with a touch panel control screen that is mainly a Nexus tablet. The system board has a lifetime warranty like any other products from Butterfly Labs. If this caught your attention  you can read more here.