Tag archive: Charles Schumer

Bitcoin prices plummeting, costs more to mine the digital currency

October 17, 2011 |

The trading price of Bitcoin has been on a steady decline over the past few months falling to less than $3.00 as of today. This brings the price lower than the average cost it would take to build a 'mining' system as well as the electricity costs to run it. Mining is a way to collect Bitcoins by running software on a computer as an individual. The user can also join a mining group to combine computing power and work together to earn… Read More