Bitcoin is a form of decentralize digital currency, so unlike other digital currency services (like e-gold), bitcoin is not susceptible to be frozen, seized or invalidated. Bitcoin can be transfered transfered directly from person to person directly without intermediaries.
Bitcoin are generated over the internet by application called bitcoin miners using a set of algorithm to ensure that the number of generated bitcoin is within predictable and limited range. Though with the numbers of bitcoin in circulation today means that it would require significant processing power to generate bitcoins, it doesn’t stop anybody who are willing to try and mine them.
For a brief introduction to Bitcoin, please watch :
Bitcoin Miner on Ubuntu ?
Enter OpenCL and Bitcoinminer.py which allows bitcoin to be mined using a much more efficient GPU power (certain models of Nvidia and ATI graphic cards only, with appropriate drivers).
Step 1: To install the miner, you need to “install python-pyopencl subversion.
Step 2: Then you need to use subversion to obtain python-jsonrpc, by running:
svn checkout http://svn.json-rpc.org/trunk/python-jsonrpc
sudo python setup.py install
Step 3: Then you need to generate bitcoin.conf file:
echo "rpcuser=username" > .bitcoin/bitcoin.conf
echo "rpcpassword=password" >> .bitcoin/bitcoin.conf
Step 4: After that, download BitcoinMiner files
wget --no-check-certificate https://github.com/m0mchil/poclbm/raw/master/BitcoinMiner.cl
wget --no-check-certificate https://github.com/m0mchil/poclbm/raw/master/BitcoinMiner.py
wget --no-check-certificate https://github.com/m0mchil/poclbm/raw/master/poclbm.py
Step 5: Download bitcoin server for linux
tar xvf bitcoin-0.3.19-linux.tar.gz
Step 6: Then finally, running the miner
python poclbm.py -d 0 --user username --pass password
The parameter -d 0 denotes that the miner will use GPU #1 for its bitcoin mining generation, increment it to -d 1 for GPU #2 and so forth. Change the “password” and “username” parameter from Step 3 and Step 6 appropriately to keep people from reaping the fruits (read: steal bitcoins) of your mining operation.
For more information about mining bitcoins and about Bitcoin in general, please visit : WeUseCoins website