Mathematical answer: you contribute, albeit very little.

Reasonable answer: don't bother. Neither do you have a substantial gain, nor the Bitcoin network. If you like the idea and want to support it, buy some bitcoins and spend them, or offer services for Bitcoins and spend your earnings. That will really make a difference.

Think of it like doing the lottery.  There may be a very small chance of you solving a block but it could just happen, and then you've definitely contributed, and gained some shiny new bitcoins in the process. 

but isn't it true that the greater the hashing power of the network as a whole, the faster blocks get created, at least up to the pt where the difficulty level is increased every 2 wks, so that his small yet incremental contribution does help toward that goal?

You do start a garden in your backyard to help the world's hungry.  You set an example for them.  If you are hungry, grow food.  If you are thirsty, make clean water.  Physician, heal thyself.

Think about sifting for gold in a river.  Are you working?  Sure.  Are you personally creating value?  Not exactly, you are just holding a sieve in a river.  The value came before you ever stepped into the water, but noone else was there to catch it.

'Xactly!

people who mine at a loss are not helping the bitcoin community optimally.  You would more optimaly help the community from taking the money you would have spent on electricity and putting that into buying bitcoins.  You will help the bitcoin community more, and gain more many more bitoins in total for yourself.

I thought you had to solve a block to verify transactions? I know you have to solve a block to add transactions to the chain. I thought that adding a block to the chain was what verified the transactions in it. I'll do some more reading...

Thanks for everyone's thoughts and comments. I'll run the client and let it use a couple of CPUs when I have the computer on. You can't win the lottery if you don't buy tickets. A slim chance is better than none. And I'll buy some bitcoins to supplement the few I earned mining in a pool.

I know this is an old post, well sort of. not very old though but it is important o leave a note here for future visits of bitcoin supporters.


Well it is not always abut mining.

If you want to support bitcoin here is a list of what can be done in an ascending priority according to its importance and contribution to bitcoin cause (well up to my knowledge):

1) Leave your CPU running 24/7 while running the bitcoin client, not mining just running the client.
2) Buy some bitcoins and spend them in something you need. Even better do it on a a regular basis for let us say your weekly/monthly grocery .. etc.
3) Buy some bitcoins and hoard them as long as you do not need their value.
4) Transfer a portion of your long term investment (like retirement plan money) into bitcoins instead of gold or banks.
And Finally,
5) Cut a percentage of your weekly, monthly or whatever pay check to buy bitcoins as a long term investment (Hoarding)!.



This would Spread the currency and maximize its value.

Of course order might be different here for some other opinions, specially about hoarding, but again it is both about spreading teh currency as well as maximizing the demand (need) for it.

Couple hundred million users like that and !!

Wollah! Bitcoin is major world-class currency.!

Well yes that is true I forgot to add

10) Using GPU mining as a heating system. umm I do not think CPU mining can be useful as a heating system.