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Jan 9, 2014

The Bitcoin-Mining Arms Race Heats Up

Posted by in categories: bitcoin, business, computing, economics, hardware


Behind this week’s coverJoel Flickinger’s two-bedroom home in the hills above Oakland, Calif., hums with custom-built computing gear. Just inside the front door, in a room anyone else might use as a den, he’s placed a desk next to a fireplace that supports a massive monitor, with cables snaking right and left toward two computers, each about the size of a case of beer. Flickinger has spent more than $20,000 on these rigs and on a slower model that runs from the basement. They operate continuously, cranking out enough heat to warm the house and racking up $400 a month in electric bills. There isn’t much by way of décor, other than handwritten inspirational Post-it notes:

“I make money easily,” one reads. “Money flows to me.” “I am a money magnet.”

Flickinger, 37, a software engineer and IT consultant by trade, doesn’t leave the house much these days. He’s a full-time Bitcoin miner.

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  • Hank on January 10, 2014 9:24 am

    In my experience people generally don’t really understand the basics of bitcoin.

    For everybody who want to practice with bitcoin, at the following website you can receive free bitcoins:

    http://freebitco.in/?r=202775

    All you have to to is fill out your bitcoinadress and create a password, there is no registration procedure. You receive free bitcoins every hour in some sort of lottery (up to +- 0.2 btc!). They really pay out. The fun part is that you can use your winnings to play higher/lower to win additional coins.