OUYA Now Accepts Bitcoin!

[rem0te]

Good luck with trying to mine bitcoin. They way they work is that each bitcoin "mined" require an increasingly complex algorithm to be solved. Imho, the complexity as reach a point where generating bitcoin is speculative investment as the cost in hardware (initial purchase + wear and tear, and mining is VERY demanding on hardware) and electricity will actually cost you more than you will generate. Unless you like risking losing money, and you'd need to risk a lot to make it worthwhile, I wouldn't try it

[dikidera]

Good luck with trying to mine bitcoin. They way they work is that each bitcoin "mined" require an increasingly complex algorithm to be solved. Imho, the complexity as reach a point where generating bitcoin is speculative investment as the cost in hardware (initial purchase + wear and tear, and mining is VERY demanding on hardware) and electricity will actually cost you more than you will generate. Unless you like risking losing money, and you'd need to risk a lot to make it worthwhile, I wouldn't try it

Wow, I had to register just to educate you on Bitcoin. The complexity is not increased on each bitcoin mined, it increases every 2016 blocks, if it takes 2 or more weeks, the difficulty(complexity) goes down, if it took less than 14 days, the difficulty goes up to compensate for an increase in hashrate.
Also, power is no longer a factor here, power efficient miners are being created, ASICs, but cost a couple of thousand dollars. I hate to say it, but the research into Bitcoin ASICs and future Litecoin ASICs was probably harder and more expensive than this console.

Mining itself is pretty much bruteforcing, because you are hashing a block header looking for a number that is smaller or equal to a target number(the difficulty).

I've mined Bitcoin for 2 and a half years, long before OUYA even existed.

[jonbonazza]

Good luck with trying to mine bitcoin. They way they work is that each bitcoin "mined" require an increasingly complex algorithm to be solved. Imho, the complexity as reach a point where generating bitcoin is speculative investment as the cost in hardware (initial purchase + wear and tear, and mining is VERY demanding on hardware) and electricity will actually cost you more than you will generate. Unless you like risking losing money, and you'd need to risk a lot to make it worthwhile, I wouldn't try it

Last I checked, with the current cost of hardware and an average cost of electricity, you would be able to make back your investment in 6 months.


EDIT: This is freaking awesome! Now, if only we could pay for games in bitcoins on the console itself. lol