Learn how to mine Bitcoin with just a pencil and paper

By Shawn Knight
Sep 29, 2014
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  1. Interested in mining Bitcoin but don't have any hardware to commit to such a project? No problem, just grab a pencil and some paper and crunch the numbers by hand! Surprisingly enough, it's not all that difficult although it is...

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  2. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,341   +1,939

    Well that was extremely clear (like mud).
  3. VitalyT

    VitalyT Russ-Puss Posts: 3,114   +1,379

    And fast!
  4. Adhmuz

    Adhmuz TechSpot Paladin Posts: 1,618   +494

    And then after you calculate these numbers, who buys them and why is this of any value to anyone? I'm more interested in knowing where all these calculations go and serve what purpose. This is essentially decrypting for the sake of decrypting? Or vice-versa. This is great, taken from the Bitcoin WiKi "Bitcoins have value because they are useful and because they are scarce. As they are accepted by more merchants, their value will stabilize." or "Bitcoins have value because they are useful as a form of money." Because they are useful and because they are scarce... That just increases the value further evidently. I really can't wait for this Bubble to burst, and all the people who wasted electricity will have nothing to show for it, because, Bitcoins have NO backing currency or gold or anything.
  5. 7 Billion people hashing the bitcoins all days and all nights and no need computers anymore, we all just counting our money always, oh heaven here.
  6. Don't knock it, it's the mathematicians equivalent of doing a crossword (which I find incredibly boring)
  7. Darkshadoe

    Darkshadoe TS Guru Posts: 571   +112

    So can you do this on an abacus?
  8. I have a Bachelor of Science in Applied Mathematics which included a lot of numerical mathematical (I.e. solving math problems with computers) and all the practical computations are SIMPLE. Actually most of them are just linear equations (e.g. 5 + 3*x = 9, solve for x), the point is that you have to solve lots and lots and lots of them to do anything practical.

    If you want to do complicated math (e.g. non-linear equations) with the computer then you have to use sophisticated software (e.g. Maple, Mathematica) but that is so hardware intensive its not used beyond research and academia. Practical software used by engineers for real-life applications will mostly solve linear equations. This follows naturally from the fact the ALU inside the CPU can only do simple logic & arithmetic functions.

    So basically what I am saying is that anything the computer can do, a human can do with pencil and paper, even weather prediction was first suggested in 1922 to be done with a large number of people working in concert.

    I hope this article was just click-baiting and that the writers & editors of this website have a better understanding of computers that what it would imply.
  9. 3of12

    3of12 TS Rookie

    Its just hashing for the sake of hashing. There is a predetermined amount of blocks, this is true of all the currencies. They are not meant to be backed by anything, since the dollar gets along fine on the piss tiny amount of gold we have to back it. But what caused it's death is people trying to use it in brick/mortar stores when it was always meant to be "digital cash", ie an untraceable online currency that requires no personal information to use it. Buying it, then trying to spend it in a physical store has zero convenience for you or the store, and proves how limited the public's imagination and understanding are conversely.

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