It's totally cool to be profitable (profit, hooray!), but it is a very scary situation to have a pool as large as Deepbit : The pool owner is in a position to change the rules of Bitcoin, since none of the pooled miners can verify that he is playing by the rules of the system , and the pool owner is not interested in putting in any safety measures to prevent his pool from obtaining a Bitminter shutdown notice. The Bitminter mining pool will shut down mining activities on 2020-07-01. The website will stay up until 2021-06-01 so you can cash out any crypto currency on your account. Bitcoin is P2P electronic cash that is valuable over legacy systems because of the monetary autonomy it brings to its users. Bitcoin seeks to address the root problem with conventional currency: all the trust that's required to make it work -- Not that justified trust is a bad thing, but trust makes systems brittle, opaque, and costly to operate. How to mine Bitcoins using your CPU (processor) on Windows (This works on all versions of windows, XP, Vista, 7, 8) using rpcminer. You can also use guiminer or bitmoose or a few other programs, but I have found the CPU mining on those to be unusually difficult sometimes, rpcminer is the only one that consistently works. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time.
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