-By Milly Bitcoin® – December 27, 2013.
Milly Bitcoin’s Mining Rig
The US Department of Treasury, Financial Crimes Enforcement Network (FinCEN) has issues ruling that clears up an issue for Bitcoin mining. The issue involves whether someone who mines Bitcoins for themselves can trade them for cash at an exchange or spend them directly […]
-By Milly Bitcoin – October 27, 2013.
The Bitcoin “Blockchain” is the database of Bitcoin transactions. It is basically a ledger and all Bitcoin balances can be obtained from it. A section is added to the database about every 10 minutes on average. Each block on the end depends on all the blocks before it […]
By Milly Bitcoin – June 9, 2013
There are currently several alternate uses of the Bitcoin blockchain. these proposals include using the Blockchain as a notary service (for instance, proof of existence splits a hash into 2 pieces and creates unspendable output. Bitcoin Time Stamp does something similar but transforms the hash into valid transactions). […]
By Milly Bitcoin – June 2, 2013
Atlantic City Bitcoin has requested an administrative ruling for Bitcoin mining. The US Treasury, Financial Crimes Enforcement Network (FinCEN) issued guidance on virtual currencies a few months ago. FinCEN also recently seized bank accounts of a company owned by Mt. Gox, the largest Bitcoin exchange.
Previously FinCEN responded […]
By Milly Bitcoin – May 26, 2013 – Updated Regularly with New Data
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 […]
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 […]