As he trekked off to Peru for his vacation, I settled in with the little black box.īutterfly Labs is a company that has drawn a fair amount of controversy for what the Bitcoin community at large perceives as a string of broken promises. I told Cyrus to send me the Butterfly Labs miner. AdvertisementĪnd yet here was the opportunity to take a piece of hardware I'd never heard of and see if I could use it to magically create some money out of nowhere.
#Macminer accepted 2 of 3 how to
I just knew that people eventually try to trade them in for cash somehow (but how to do that was also a total mystery). I certainly didn't know how to "mine" bitcoins myself or what to do with the things once I had them. Bitcoin? That's the electronic currency that's quickly rocketed from lame nerd project to ludicrously valuable hot topic, right? I didn't know a lot about the world of Bitcoin other than the fact that "mining" them involved people building custom PCs with tons of video cards to handle the math. Do you want to see if you can get the thing working while I'm out?" I'm working on a story about the company, but I'm about to go on vacation. "There aren't that many in the wild right now. "I've got a Butterfly Labs Bitcoin mining box," he explained. A newbie and his minerĪrs Senior Business Editor Cyrus Farivar tapped me on the shoulder a few weeks back with a proposition. The BFL miner: A video introĪllow me to introduce you to the Butterfly Labs 5GH/s "Jalapeño" Bitcoin miner. The short answer: every day, that machine magically generates something like $20 in bitcoins. Why on earth would anyone want such a disagreeable little machine in their home? If I moved it into my office and could stand the noise, I could keep a cup of coffee comfortably warm on top of the thing. In a year, it will consume almost $100 worth of juice-and that's on top of the $274 it costs to buy the box in the first place.
#Macminer accepted 2 of 3 full
Every day, it sucks down about one full kilowatt-hour of electricity. There is a whirring, whining presence in my dining room. Gold in them bits: Inside the world’s most mysterious Bitcoin mining company.How a total n00b mined $700 in bitcoins.In part two, we share our experiences running a Bitcoin miner for a couple weeks. In part one, we looked at the company and the experiences customers have had with it.
This is the second in a two-part series exploring Butterfly Labs and its lineup of dedicated Bitcoin-mining hardware.
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