Bitcoin Mining Profitability – An Example

There is quite a bit of hype about Bitcoin mining and the profitability. This post will track the profitability of ordering Avalon ASICs Bitcoin Miners. Keep in mind that the situation changes rapidly and ordering a Bitcoin miner has generally involved making a preorder and waiting months for delivery. Developing new hardware can de difficult […]

Bitcoin and IP Address Privacy

By Milly Bitcoin – May 16, 2013

The Electronic Frontier Foundation (EFF) released a statement today about Bitcoin. It states in the footnote “the network doesn’t actively conceal the IP addresses from which transactions were initiated.” This article explains how IP addresses are handled on the Bitcoin network.

If you use a web wallet or […]

HELP.org Launched to Provide Bitcoin Donation Support

Atlantic City, NJ (May 16, 2013) – HELP.org, a new web site, provides free assistance for accepting Bitcoin donations. Bitcoin is a decentralized Internet currency with no central authority. It works by users sharing a transaction database via peer-2-peer connections. Due to the decentralized nature of the system there are no restrictions like a bank […]

What Problem is Solved by Bitcoin Miners?

By Milly Bitcoin – May 16, 2013

One of the most common questions about Bitcoin mining. What are they doing? What problem are they trying to solve? Can it be solved with pen and paper? Are they wasting resources? Are they using the computer power to hack something?

The problem being solved involves cryptography. To […]

Decoding Messages in the Bitcoin Blockchain

By Milly Bitcoin – May 16, 2013

There have been several recent articles about messages placed in the Bitcoin Blockchain. The Blockchain is the database of transactions that is shared among users via peer-2-peer software. In this way a central authority, like a bank, is avoided. Some of the more sensational stories claim “child porn […]

Amazon Coin and Bitcoin – Apples and Oranges

By Milly Bitcoin – May 14, 2013

This week Amazon announced their “Amazon Coins”. It is described at their web site as:

Amazon Coins is a new way to buy and enjoy Kindle Fire apps, games, and in-app items for less. Save up to 10% on apps and games by purchasing Amazon Coins.

This is […]