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A Very Brief History Of Mining In 2009, people could mine successfully on their laptops and home computers, using the CPU (Central Processing Unit) to do the calculations. There seemed to be a gentleman’s agreement not to use more powerful GPUs (Graphics Processing Unit, the proccessing chips that display your monitor and laptop screens) that were more efficient and faster at running this specific calculation, but harder to set up. However that gentleman’s agreement seems to have broken down, and GPU mining made CPU mining obsolete, driving a large increase in mining difficulty between 2010-12. As the price of bitcoin and so the value of the reward increased, people started investing in mining equipment, and began manufacturing chips called ASICs (Application-Specific Integrated Circuits). These are good for nothing except hashing / mining (so take popular comparisons with the world’s supercomputers with a pinch of salt). This was the next revolution in hashing power, starting in 2013. A GENTLE INTRODUCTION TO BITCOIN MINING 10PDF Image | Introduction To Bitcoin Mining
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