In 2013, chinese manufacturers developed the first ever ASIC miner (more on this later) which was far more efficient than all of its predecessors and to this day ASIC Miners have become the standard mining hardware of choice for mining Bitcoin.ĪSIC miners or application-specific integrated circuit miners are designed with one purpose and one purpose only, and that is to mine cryptocurrency. Shortly after GPU mining Bitcoin was enabled, another developer discovered how to mine Bitcoin using FPGA hardware, which resulted in GPU mining being put to rest as well. Hence, CPU mining Bitcoin was put to rest in terms of mining Bitcoin.
However, in 2010, a developer discovered that GPU or Graphical processing units (used in high end Gaming PCs) were even more efficient at Bitcoin Mining than CPUs. This was the beginning of the digital gold rush for early adopters. Mining Bitcoin using computing hardware in a race against each other by performing random guessing games of complex math problems for a chance to earn Bitcoin.īack when Bitcoin was brand new in 2009, and no one knew what its value would be today, you could mine around 50 Bitcoin a day on a laptop equipped with a CPU only. You can either pay real money to acquire it, exchange it with another cryptocurrency, or earn it through mining.
Bitcoin itself is a form of cryptocurrency that is used to exchange money between users safely.
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