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It's also easy to overclock to 38 GH/s, though that bumps power consumption up to 280 watts. The Cube mines at 30 GH/s using some 200 watts of power, and as of this writing, they're priced at just $119 at JonesGearР’В (plus 5 percent off when you use coupon 'MacObserver'). With a fan on one end and a grilled opening on the other, it's easy to cool (see my tip below). It's a compact extruded-metal case that houses six blades that hold many Bitcoin mining ASICs on each one. Use coupon 'MacObserver' for 5 percent off. I haven't tested this device, but it runs at 2.2 GH/s without overclocking, and JonesGear has it for $19. JonesGear also has the YellowJacket 2.2-3.0 GH/s USB ASIC Miner based on the Nanofury chip (a Bitfury chip, to be specific. Like I said, they're great for dipping your toes, but for a little more money, you can get a really cool device called the ASICminer Cube. That would be an issue if you were planning on getting a lot of them, but I'm here to tell you not to get a lot of them.Р”Р„t $11.50 per GH/s, they're expensive. The U2 has a fat heat sink on it, as shown in the picture, which means for most USB hubs, you'll only be able to use every other port. There's another GUI app called Asteroid you can use, too.

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Mac users can use the command line version of either software, or MacMiner from Fabulous Panda, which puts puts a GUI on the command line apps. You can run them with CGminer and BFGminer on Windows and Linux. If you want to dip your toes into Bitcoin mining just to see what it's all about, this is the device for you. As of this writing, they're just US$23 new from JonesGear (use coupon 'MacObserver' for 5 percent off). They can be overclocked to 2.4 GH/s, too. This device hashes at 2 GH/s (giga-hashes per second), and it uses just 2 watts of power. It's literally a Bitcoin miner on a stick, a USB stick.

Let's get to the gear! I started with the least expensive and worked my way up from there:Р”В«ehold the Antminer U2. My advice is to do your research and only invest in gear at levels you are comfy with. If you think Bitcoins will rise in price, determining the value of Bitcoins mined today is massively subjective.

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Then, of course, you'll be free to buy new equipment of your own!Р”Р„nother consideration is future value.

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No calculator tells the full story, though, because you can sell your used gear on Ebay or Craigslist when it still has value to someone coming up the Bitcoin ladder. I like the Bitcoin Mining and Profitability Calculator at the best. Search for Bitcoin Mining Calculator, and you'll find a ton of them. In other words, if you spend $1,000 on mining equipment, how long will it take to generate $1,000 worth of Bitcoins- after you also pay for electricity. The question that experienced/serious miners look at is what their return on investment (ROI) will be.

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: Use coupon code ' MacObserver' to get 7.5 percent off your order. JonesGear: Use coupon code ' MacObserver' during the month of April to get 5 percent off your order. In the Wild West world of Bitcoin mining, that's worth a lot.Р”В«etter yet, both companies set up discount codes for you, my gentle reader, to use. I got one defective (manufacturer's defect) piece of gear from each company, and they both promptly replaced it.

I've bought several times from both retailers. retailers- JonesGear and -that not only offer excellent customer service, they back up the gear they sell. You can buy on Ebay, but I've found two U.S. The most intimidating thing about Bitcoin mining is where to buy that gear.

If you need more information on Bitcoins, check out my Bitcoin Primer, my review of a Bitcoin poker site, and my list of Bitcoin faucets that actually pay. On mining Bitcoins: it's an unending rat race. Today, however, you'll need to buy specialized mining gear based on ASICs (application-specific integrated circuits), but the good news is that there are several entry-level options available, and you can run them from your Mac, a Windows PC, or a Linux box. You used to be able to mine with your CPU, and then GPUs ruled the roost for a couple of years. The world of Bitcoin mining can be confusing if you're new.