Bitcoin mining on your Mac

“Bitcoin is a decentralised crypto-currency; computers around the world constantly mine for bitcoins by solving complex mathematical problems,” Harry Guinness writes for Tuts+.Once a certain number of problems have been solved, a block of bitcoins is released.”

“The value of bitcoins has shot up since 2009 (though it has come back down from a peak of around $1,000 per coin to about $500 per coin),” Guinness writes. “This spike in value, as well as the resulting media attention, has resulted in a lot of interest in mining bit coins.”

“To mine Bitcoin on a Mac you’ll need a wallet with a wallet address,” Guinness writes. “You also need a Mac with a discrete GPU. This excludes all MacBooks bar the top 15-inch MacBook Pro with Retina display, and some models of 21.5-inch iMac. If your Mac doesn’t have a discrete GPU, you will need to pick up some of the external mining hardware described later on.”

Read more in the full article here.

7 Comments

  1. Oh, geez. I keep up with what’s happening in Bitcoin-land, because I find it alternately hilarious and mind-blowing, and I can tell you that Bitcoin-mining on a Mac’s GPU is a waste of time unless you join a mining pool, and even then, you won’t see much in the way of returns.

    Bitcoin mining is done these days on specialized computers called ASICs, developed specifically for the purpose of mining cryptocurrency. The difficulty of mining Bitcoin has increased to the point these days that the only people seeing any returns from mining are those who own ASICs, and specifically those who owns lots and lots of them.

    So if you’re thinking “Oh boy! My Mac can make me tons of free money when I’m not using it!”, think again. It’s been a long time since that was true.

    ——RM

  2. I’ve tried mining with my mac and its pointless. take you insane amount of time to make anything and way before then your mac will burn itself out. Its great way to shorten the lifespan of your mac.

    Only worth mining if you’ve got a climate controlled room filled with macs all mining together.

    but if you want to give it a try check out a mac app for mining called asteroid http://www.asteroidapp.com

  3. If you think bitcoin, litecoin and other crypto currencies will shoot up in value, your better off just buying some coins now and storing them in your wallet, plus backing up the data. maybe one day they’ll be much more valuable and you’ll make a nice profit. stay away from mining. some big tech companies have rooms dedicated to mining just in case they do shoot up in value.

    You can buy coins fairly easy on ebay

  4. I don’t understand exactly what’s being mined for. So you’re solving math problems. Why? Who uses these solutions and what are they used for? Are they just puzzles solved for the sake of solving them? Or are there real world problems being solved?

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