Bitcoin Forum

“The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

The importance of the above quote struck me last night. So I want to throw in my .02 btc of being an honest node and add some hashing power. I'm not worried about spending a few more dollars on electricity than I make in bitcoins because Bitcoin has already treated me so well.

I mined on my laptop back in the day but stopped when it went to GPUs. Now, looking at mining has the same effect on me as the first time I encountered Bitcoin itself. It's confusing for us non-miners. So perhaps an expert or two could help clear up the confusion.

My question: What's the lowest impact, cheapest method of adding 1-2 gigahashes/s to the network? As said, this is just to be an honest node as I'm not worried about profit from mining.

Thanks!

The "being an honest node" argument with just 1-2GH/s is moot, because with such a low hashrate you're probably going to mine on a pool anyways.
In that case it's not you, but the pool-operator who has to be honest (and you don't really have any control about that).

But to answer your question: the cheapest way in terms of initial investment is probably to grab some used ATI GPUs on ebay, although the energy-cost is quite high for the long term. Another way would be to grab some used FPGA boards, higher initial investment, lower energy-costs. Or just wait a few more months and hope for ASICs to be available/affordable.
And that's about all methods around for everybody.  :D

So it would serve my interests to do my research first into who's running the pool.


And that's what I wanted to know. Thanks for the quick answers.

Good for you for realizing the importance of why Bitcoin is so important.  Impartiality.


So, now, with the right philosophic point of view, go get yourself some ASIC's.

Where can we get some? Butterfly labs seems to be DOA and Avalon is sold out.

Yeah this is what I'm waiting for.  It's OK if I miss the gold rush but will definitely want something simple hashing in the background at low cost once the technology matures a bit.  I'd bet plenty others are in the same boat.

I'd want a simple small device that I can plug into my computer's USB port and starting bitcoin mining at 10 GH/s or 20 GH/s. When there are about a few hundred of us little folks doing that, we'd help secure the network. Fees can also be lowered.

Use P2Pool, and then you're an honest to god honest node.

Or really, if your motivation is primarily to secure Bitcoin— feel free to solo mine. Your expected return is as good or better, and if you're not in it for the income the fact that its a bit of a lottery shouldn't turn you off.