web analytics
July 5, 2015 / 18 Tammuz, 5775
At a Glance
News & Views
Sponsored Post


How Do You Mine for Bitcoins?

Cloudhashing Article Photo

Photo Credit: Cloudhashing.com

So why does a company that essentially prints money even need to find investors? “It’s all about economies of scale,” notes Gilkey, “the more investors we have, the better price we can get on hardware, power, and data center space.” Since mining is a competitive activity, the higher percentage of the bitcoin network controlled the better. Currently CloudHashing controls approximately 10% of the Bitcoin network but Gilkey says that the company’s goal is to raise that to 25-30 percent of the Bitcoin network by the end of this year.

Ryan Oquin, CloudHashing’s Marketing Coordinator, explains why Bitcoin may very well be the currency of the future; “When the internet first became widely used, it became necessary to figure out how to bring money to the internet. Unlike other types of money which were forced to adapt and figure out how to work with the Internet, bitcoin is a currency that is based on the internet.” Bitcoin also has certain other distinct advantages over more traditional currencies. “If I want to send you a million dollars from halfway across the world,” says Gilkey, “If I use bitcoin you would have it within about half an hour and it would cost around a dollar in transaction costs. Compare that to transferring a million dollars through a bank – that would take much longer and cost much more in transaction charges”.

Cloudhashing offers 12 month contracts to its investors. CloudHashing investors receive percentages of the bitcoins mined by the CloudHashing system into their account pro-rated to the amount of space the investors purchases.

Whether Bitcoin proves to be a wise long term investment is still very much up for debate. Government regulation and security concerns have caused enormous volatility in the bitcoin market over the past year. However, if one wants to get involved in the exciting world of Bitcoin investment, CloudHashing.com is definitely worth a serious look.

About the Author:


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “How Do You Mine for Bitcoins?”

Comments are closed.

Current Top Story
Iranian FM Javad Zarif and US Secy of State Kerry on the Fourth of July.
Report: Iran Deal Reached — on Sanctions Relief
Latest News Stories
No eating today.

In three weeks, the Fast of the 9th of Av will be on the 10th of Av.

Prime Minister Netanyahu seen shaking hands with Shas leader Aryeh Deri in the Knesset.

Netanyahu falsely accused Bennett of signing a coalition agreement that returns more power to Hareidim.

Iranian FM Javad Zarif and US Secy of State Kerry on the Fourth of July.

US-led talks with Tehran appear to have reached a deal on sanctions relief: but what about access to Iranian nuclear sites?

ISIS-linked Sinai Province terror group prepares to fire missiles at Israel from the Sinai Peninsula.

Arab leaders realize the existential threat posed by ISIS: Tunisia is at a state of emergency; Egypt has declared “war.”

Six terror fugitives were arrested by IDF soldiers overnight in Judea and Samaria.

PM Netanyahu this week identified ISIS and Iran as Israel’s primary threat. It is a planetary threat that carries the promise of peace.

Temple Mount activist Rabbi Yehuda Glick talks peace in Istanbul with a state official and on A9TV with Islamic scholar Adnan Oktar.

Yifat Shoham, one of the longest-running directors of Leumit HMO in Arad, has passed away. Baruch Dayan HaEmet.

Once again, rioting Arabs succeed in preventing Jews and other visitors from entering the Temple Mount.

Kerry spent the Fourth of July talking with his Iranian counterpart, Mohammad Javad Zarif.

Thirty Policemen escorted a total of 21 neo-Nazi in the “anti-Jewification” protest that flopped.

ISIS released a video of a modern-day replay of the thirst for blood in ancient Roman amphitheaters.

The woman who once kissed Suha Arafat has a different attitude when it comes to funding her campaign for president.

A third Grad rocket was found in the Eshkol region on Saturday.

If Lapid decides that his party will support the proposal in the Knesset, he will go down in history as the man who saved Israel’s gas industry and credibility.

The House of Bishops, led by Presiding Bishop Katharine Jefferts Schori, overwhelmingly defeated the Boycott, Divestment, Sanctions resolution.

More Articles from Yehuda Raskin
Cloudhashing Article Photo

If bitcoins aren’t issued by any sort of government agency, or printed in any mint, where do they come from, and how do you get them?

Restaurant-Front-033012

Armed with a clever name, an award-winning chef, and a remarkable menu, Meat Me is poised to take the world of Kosher cuisine by storm.

Noach Dear has worn many hats during his nearly 30 years of public service. The hat he currently dons is that of a jurist, as he presides over a courtroom in Downtown Brooklyn, which handles all of the consumer debt cases in the borough. Each and every day, in Judge Dear’s modest courtroom, a real-life drama unfolds as hardworking people, struggling to make ends meet, step up to the bench in a desperate effort to deal with mounting piles of debt they have scant hope of repaying. While these litigants may not be seeking millions of dollars or trying to avoid a stiff prison term, they are facing a frightening situation in which their families’ financial futures are hanging in the balance.

Gussie Levine is a 99-year-old great-grandmother who worked as a teacher for the New York City Board of Education for many years. She volunteers for many worthy causes, and has participated in a new educational program, Mobilization for Youth – working with children of all ages.

Kosherfest, the kosher food industry’s largest annual trade show, in many ways, is similar to hundreds of other trade shows held each year by every other industry across the country. A significant difference, however, is that while other shows are pointless and boring for those not involved in the industry, Kosherfest can be enjoyed by anyone who appreciates fine kosher cuisine.

The sea of people pouring out of the elevators on the tenth floor of Sotheby’s varied greatly in their age, dress, and religious associations. But as they entered the exhibit, they shared a universal expression of awe and reverence. Thirteen thousand rare and ancient books looked down from the shelves and the crowd stared back in fascinated silence.

The sea of people pouring out of the elevators on the tenth floor of Sotheby’s varied greatly in their age, dress, and religious associations. But as they entered the exhibit, they shared a universal expression of awe and reverence. Thirteen thousand rare and ancient books looked down from the shelves and the crowd stared back in fascinated silence.

Printed from: http://www.jewishpress.com/news/business-economy/how-do-you-mine-for-bitcoins/2014/05/21/

Scan this QR code to visit this page online: