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Mining and Dogecoin - Some FAQs
Hey shibes, I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts! Feel free to add information to that thread or correct me if I did any mistake.
You downloaded the core wallet
Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here. Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.
You downloaded a GPU/CPU miner
Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!
Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain." - langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!
Mining solo versus pool
So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.
Buying an ASIC
You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...
You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.
Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc. Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same. Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.
Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!
Folding at Home (Doge)
Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much. Thanks for reading _nformant
As part of my ongoing effort to develop stupid shit for Garlicoin, I present you: W-addresses!
“Wait, what?!” I hear you asking? Well…(buckle up, this is another one of my technical posts that goes on, and on…) For some time now, I have been using native SegWit (Pay-to-Witness-Public-Key-Hash, P2WPKH) transactions for myself. Mostly because they have a 75% fee subsidy on signature data (which comes out on ~50% fee subsidy on the entire transaction, depending on the type of transaction) and I am dutch after all ;-) It turns out that Garlicoin Core kind of supports them and kind of does not. If you manually register the transaction redeem script to your wallet (using the addwitnessaddress command) it will start recognizing them on the blockchain but gets kind of confused on how to deal with them, so it registers them all as ‘change’ transactions. Still, this means you can receive coins using these types of transactions and pay with them in all ways you can with regular Garlicoins, except your transactions are cheaper. However, sending coins using native SegWit is quite a hassle. You can basically only do it by creating your own raw transactions (createrawtransaction, edit it to make it native SegWit, fundrawtransaction, signrawtransaction, sendrawtransaction). On top of this, any change address the wallet creates are still legacy/normal Garlicoin addresses, so you will end up with a bunch of unspent transaction outputs (UTXOs) for which you have to pay full fee anyway. I decided we (I) could do better than this. But first a few steps back. What is this native SegWit anyway and weren’t people already using SegWit? Wasn’t there a user that just after mainnet launched accidentally made a SegWit transaction? So what the hell am I talking about? To understand this, you will need to know a few things about what SegWit is and how Bitcoin Garlicoin transactions work in general. Note that this bit gets really technical, so if you are not interested, you might want to skip ahead. A lot. First thing to understand is that addresses are not really a thing if you look at the blockchain. While nodes and explorers will interpret parts of a transaction as addresses, in reality addresses are just an abstraction around Bitcoin Script and an easy way send coins instead of asking people “hey, can you send some coins to the network in such a way that only the private key that corresponds to public key XYZ can unlock them?”. Let’s look at an example: say I ask you to send coins to my address GR1Vcgj2r6EjGQJHHGkAUr1XnidA19MrxC. What ends up happening is that you send coins out a transaction where you say that the coin are locked in the blockchain and can only be unlocked by successfully executing the following script:
The first byte (0x26, or 38) is the version byte. This tells the clients how the interpret the rest of the script. In our case 38 means Pay-to-Public-Key-Hash (P2PKH), or in other words the script mentioned above. The part after that is just the SHA1 hash of the public key and the final 4 bytes are a checksum to verify you did not make a typo when entering the address. Enter SegWit. What SegWit exactly is depends on who you are talking to, however it mostly is a different transaction format/protocol. The main change of SegWit is that signature data is not longer included in the transaction (fixing transaction malleability). Instead transaction data is sent separate from the transaction itself and outside of the (main) blocks. This is not really that much of an issue, except for the fact that people wanted to enable SegWit as a soft-fork instead of a hard-fork. This means that somehow unupgraded nodes needed a way to deal with these new transaction types without being able to verify them. The solution turned out to be to make use of an implementation detail of Bitcoin Script: if a piece of script executes without any errors, the last bit of data determines whether the transaction is valid (non-zero) or invalid (zero). This is what they used to implement SegWit. So what does this look like? Well, you might be surprised how simple a P2WPKH (the SegWit way of doing a P2PKH transaction) script looks:
Yes. That’s it. The first byte is the Witness program version byte. I.e. it tells you how the other data should be interpreted (very similar to how addresses work). Then there is the hash of the public key. As you can see, SegWit does not actually use Bitcoin Script. Mostly because it needs old nodes to ‘just accept’ its transactions. However interestingly enough, while the transaction format changed, the transaction data is pretty much the same:
I want to pay to a hash of a public key
This hash is XYZ.
This means that these kind of SegWit transactions need a new way of addressing them. Now, you might think that this is where the ‘3’ addresses on Bitcoin or the ‘M’ addresses on Garlicoin come in. However, that is not the case. These addresses are what are called Pay-to-Script-Hash (P2SH) addresses. There scrypt is like this:
Huh? Yeah, these are a very special type of transactions, that kind of go back to the “hey, can you send some coins to the network in such a way that only the private key that corresponds to public key XYZ can unlock them?” issue. These transactions are a way to have arbitrary smart contracts (within the limits of Bitcoin Script) to determine whether a transaction output can be spend or not without the sender of the coins having to deal with your scripts. Basically they use a hash of the “real” script, which whoever owns the coins has to provide when they want to spend them, as well as the specific inputs required for a script. This functionality is for example used in multi-signature (MultiSig) wallets, without requiring someone sending money to these wallets having to deal with random bits of information like how many signatures are required, how many private keys belong to the wallet, etc. This same method is used for so called P2SH-wrapped SegWit transactions (or P2SH-P2WPKH). Consider our earlier SegWit transaction output script:
Or 00144e9856671c3abb2f03b7d80b9238e8f5ecd9f050 in low-level hex. The P2SH script for this would be:
Which would give us address MNX1uHyAQMXsGiGt5wACiyMUgjHn1qk1Kw. This is what is now widely known and used as SegWit. But this is P2SH-wrapper SegWit, not native or "real" SegWit. Native would be using the data-only SegWit script directly. The reason for using the P2SH variant is mostly about compatibility. While SegWit nodes understand these newer transactions, they were never officially assigned a way to convert them to addresses. Hence, they will show up in blockchain explorers as Unparsed address  or something similar. Then there is also the whole thing about old nodes and relaying non-standard transactions, but I will skip that bit for now. Bitcoin is using/going to use new BECH32 addresses for native SegWit transactions, which looks completely different from the old Base-58 encoded addresses. However, right now, especially on Garlicoin, you cannot really use them and have to use the P2SH variant. But why not use these new cool transaction types without having to deal with all that useless and complex P2SH wrapping, right? Right? … Well, I went ahead and gave them their (unofficial) address space. So last thursday I made some changes to Garlicoin Core, to make dealing with these native SegWit transaction a lot easier. In short, the changes consist of:
Assigning address version byte 73 to them, in other words addresses starting with a ‘W’ (for ‘witness’).
Allowing the use of ‘W’ addresses when sending coins.
Make the wallet automatically recognize the SegWit transaction type for any newly generated address.
Add the getwitnessaddress command, which decodes a version 38 ‘G’ address and re-encodes the same data as a version 73 ‘W’ address (unfortunately it is not as simple as just changing the first letter). Note that this can be any address, not just your own. (That said, you should not send SegWit transactions to people not expecting them, always use the address given to you.)
Added the usewitnesschangeaddress configuration setting, to automatically use the cheaper SegWit transaction outputs for transaction change outputs.
(Since using the 'W' address only changes the way coins are sent to you and the private key used for both transaction types is the same:) When receiving coins they show all up under the original ‘G’ address, whether a SegWit or legacy/normal transaction type was used. The idea behind this is that both are actually the same "physical" (?) address, just to the way to coins to it differs. Address book entries are also merged and default to the ‘G’ address type.
Anyway, I don’t expect people to actually use this or it getting merged into mainline or anything. I actually mostly made this for myself, but thought I should share anyway. I guess it was also a nice opportunity to talk a bit about transactions and SegWit. :-) Btw, I also changed my pool to allow mining to ‘W’ addresses, to make coin consolidation cheaper (due to the SegWit fee subsidy). Right now this is only for instant payout though (as I would have to update the wallet node the pool is using for daily payout, which I haven’t done yet). Also note that you can actually mine to a ‘W’ address (and therefore use cheaper transactions) even if you are running the official, non-patched version of Garlicoin Core, however:
You need to manually convert your ‘G’ address to a ‘W’ address.
You need to run the addwitnessaddress command (Help -> Debug Window -> Console) to make the wallet recognize SegWit transactions (you can ignore the ‘M’ address it produces).
The wallet might get a bit confused as it does not really understand how it got the coins. This is mostly notable in the ‘Coin Control’ window if you have it enabled. Apart from that everything should still work though.
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
This post is a temporary resting place for FAQs while we wait for the release of VertDocs.
What is Vertcoin?
Vertcoin is a digital peer to peer currency focused on decentralization and ASIC resistance. Vertcoin is aiming to be easily accessible to the everyday user without extensive technical knowledge. Vertcoin has started to lower the barrier of entry with lots of video guides and the development of the One Click Miner (OCM).
Why does ASIC Resistance Matter?
ASICs (Application Specific Integrated Circuits) are dedicated mining devices that can only mine one algorithm. Coins like Bitcoin and Litecoin both made GPU mining obsolete when SHA-256 and Scrypt ASICs were created.
ASIC Resistance and How it Makes Vertcoin Decentralized
Vertcoin believes that ASIC resistance goes hand in hand with decentralization. ASICs are made by companies like Bitmain and almost all the original sellers of ASICs sell on a preorder basis. When pre ordering an ASIC you are buying from a limited batch that the ASIC company has produced. Often times the batch will not be fully filled and the ASIC company will often have left over ASICs. When the ASIC company has left over ASICs they will put them to work mining. Soon enough the ASIC company will have a very large amount of unsold ASICs that are mining and slowly the ASIC company starts to own a large part of the network’s hashrate. When an ASIC company(s) starts to own a large majority of the hashrate the network can become very centralized after a while. Having your network consist of a few large companies can be very dangerous as they could eventually get 51% hashing power and 51% attack your network, destabilizing the network. When your network is made out of a lot of smaller miners, like Vertcoin, it is much harder for your network to be 51% attacked, therefore increasing network security. By having centralized hashing power your coin effectively centralizing the network as the centralized hashing power can deny transactions and stop any activity they don’t want.
What Ways is Vertcoin Superior to Litecoin and Bitcoin?
Network Difficulty Adjustments with Kimoto Gravity Well
Vertcoin uses a difficulty adjustment called Kimoto Gravity Well which adjusts the difficulty every block, whereas Bitcoin and Litecoin’s difficulty changes every 2016 blocks. By adjusting the difficulty every block Vertcoin’s block time can stay consistent by adjusting for the fluctuation in network hash rate from hash rate renting and part time miners. If a large miner switches off Bitcoin or Litecoin mining the network could be slowed to a crawl until 2016 blocks are mined and the difficulty can change to adjust for the new network hash rate. We observed this happen to Bitcoin when Bitcoin Cash became more profitable than Bitcoin and Bitcoin’s network hash rate saw a steep fall off, slowing the network to a crawl. If this was to happen with Vertcoin the difficulty would adjust after 1 block was mined, allowing Vertcoin to always be profitable to mine.
Anyone can Meaningfully help Verify Transactions
In Proof-of-Work crypto currencies miners help secure the blockchain and get rewarded with the block reward. In ASIC mineable coins like Bitcoin and Litecoin you can’t meaningfully verify transactions unless you pay 1000-2000$ for a ASIC miner. When you mine with a CPU or GPU in a ASIC mineable coin you make no meaningful impact on the network. It is like trying to break concrete with a shovel while everyone else has a jackhammer.
Simple Upgrades Aren’t Held back by 1-2 Large Miners
In ASIC market people buy ASICs in batches in a preorder. With Bitcoin ASICs there is not enough demand for ASICs so the batch often doesn’t get sold out so now the manufacturer has spare ASICs. Now that the manufacturer has spare ASICs they will often start mining with them and eventually the ASIC company has one of the highest hash rates. If the ASIC company doesn’t want a certain upgrade to go through, for example SegWit, they can vote with their hash rate to hold back the upgrade forever or at least until people who want SegWit get more hash rate.
You Have a Say in Protocol Rules and Consensus
In Bitcoin you are a passive observer because you can only issue transactions and you have no part in the process after that. In Vertcoin you can be apart of the process for deciding the ordering of transactions and deciding what transactions get into blocks.
Block Rewards and Transaction Fees are Distributed Evenly
In Bitcoin and Litecoin the block rewards and transaction fees are often given to the large miners in China due to mining centralization created by ASICs. Vertcoin distributes its mining rewards to people all around the world thanks to the mining decentralization.
When will Atomic Swaps Be Ready?
Atomic Swaps can be done in two flavors: On-chain and Off-chain (via Lightning Network). On-chain swaps were actually done already using Blocknet, you can see it in use on Youtube. We're looking into doing it again using Interledger. However our main focus is to do off-chain Atomic Swaps using Lightning Network technology. Because it has the same benefits as Lightning transactions: No network fees and instant transactions. For off-chain swaps we need Lightning Network to be fully operational. It's difficult to give an ETA on that since we aren't the ones developing it. U/gertjaap posted a video on the current state of the Lightning Network for Vertcoin a while ago, which you can see here. This was actually the "bleeding edge" of Lightning Network at the time. was able to use it on VTC's main net, meaning that our blockchain is ready for the good stuff. As you can see however, it can't yet be considered production ready (most users would want a little better UX than a command line app). Now off-chain Atomic Swaps is a technique based on the same principles as Lightning Network, but adds an extra complexity for it being across chains. So it's basically the same as a "multi hop" Lightning payment, which is not yet built by any of the implementations. They're still working hard on making the single-hop payments robust. So in order for AS to be possible, LN has to be fully operational. A timeline cannot be given at this time, because frankly we don't know. The implementation of Lightning Network we feel has the most potential is LIT, because it supports multiple currencies in its protocol (where LND is bitcoin-only at the time and requires significant work to support other currencies, which is an essential part of being able to work across multiple blockchains). LIT is open source and there's nothing secretive about its progress, you can see the development on Github. We even have our lead dev James Lovejoy (u/jamesl22) close to the action and contributing to it where possible (and our team as well through testing it on the Vertcoin chain). So we're not developing LN or AS ourselves, we're just ready with our blockchain technology whenever it becomes available. If we have any real progress that has some substance, you can expect us to let the world know. We're not interested in fluffy marketing - we post something when we achieve real progress. And we are not keeping that secret.
How do I Choose the Right Vertcoin Wallet?
Deciding what Vertcoin wallet you should choose can be a difficult process. You can choose between three different wallets: Core, Electrum and Paper. Once you decide you can use the "How to Setup Your Vertcoin Wallets" video guide to assist you.
The Core wallet is the wallet that most people should use. It will store the entire blockchain (~2GB) on your computer. The Core wallet is the only wallet that fully supports P2Pool mining. You will also have to use the Core wallet if you plan to run a P2Pool node or any Vertcoin related server.
The Electrum wallet is a light wallet for Vertcoin. You do not have to download the blockchain on your computer, but you will still have your own private keys on your computer. This is recommended for people who don't need to store Vertcoins for very long and just need a quick but secure place to store them.
The Paper wallet is as the name implies, a physical paper wallet. When generating a paper wallet you will get a pdf that will need to print out. A paper wallet is normally used for long term storage since it is the safest way to store Vertcoins. A paper wallet can also be called "cold storage." Cold storage references the storage of your coins offline, preventing you from getting hacked over the internet.
Ledger Nano S
The Ledger Nano S is a hardware wallet designed by Ledger. A hardware wallet is similar to a paper wallet since it is normally used for cold storage. The hardware wallet is on par with the security of a paper wallet while being easy to use and setup. Note: You should never mine directly to a Ledger hardware wallet.
You can get the latest version of the One Click Miner in the Vertcoin Discord. The download is pinned to the top of the #oneclick channel.
What do all the Numbers Mean on P2Pool’s Web Interface
I've seen a lot of confusion from new miners on public p2pool nodes, so here's a primer for the most common static node page style, for first time miners: https://imgur.com/K48GmMw
Active Miners on this Node
Address - This is the list of addresses currently mining on this node. If your address does not show up here, you are not mining on this node.
This is a snapshot of your hashrate as seen by the node. It will fluctuate up to 15% from the hashrate you are seeing on your mining software, but will average out to match the output in your mining software.
This is the amount of your hashing contribution that is rejected, both in hashrate and as a percentage of your total contribution. Running your own p2pool node minimizes this number. Mining on a node that is geographically close to reduce lag also minimizes this number. Ideally you would like it to be less than 1%, but most people seem happy keeping it under 3%.
This speaks for itself, it is the difficulty of the share being currently worked on. Bigger numbers are more difficult.
Time to Share
This is how long you need to mine before you will receive any payouts, or any "predicted payout." The lower your hashrate, the higher your time to share.
This is the reward you would receive if a block was found by p2pool right now. If it reads "no shares yet" then you have not yet been mining the requisite amount of time as seen in the previous "time to share" column.
This is the total hashrate of all the miners mining vertcoin everywhere, regardless of where or how.
Global Pool Hashrate
This is the total hashrate of all the miners mining vertcoin on this p2pool network, be it the first network or the second network.
Local Pool Hashrate
This is the total hashrate of all the miners mining Vertcoin on this node.
Current Block Value
This is the reward that will be given for mining the current block. The base mining reward is currently 50 VTC per block, so any small decimal over that amount is transaction fees being paid by people using the network.
Network Block Difficulty
This is the difficulty of the block being mined. The higher the number, the higher the difficulty. This number rises as the "Network Hashrate" rises, so that blocks will always be found every 2.5 minutes. Inversely, this number falls when the "Network Hashrate" lowers as well.
Expected Time to Block
This is a guess at how much time will elapse between blocks being found by this p2pool network. This guess is accurate on average, but very inaccurate in the short term. Since you only receive a payout when the network finds a block, you can think of this as "Estimated Time to Payout."
Why is P2Pool Recommended Over Traditional Pools?
P2Pool is peer to peer allowing a decentralized pool mining system. There are many nodes setup around the world that connect to each other too mine together. Many other coins have 1 very large pool that many miners connect to and sometimes the largest pool can have 51% or more of the network hash rate which makes the network vulnerable to a 51% attack. If P2Pool is the largest network then that prevents the Vertcoin network to be susceptible to a 51% attack as P2Pool is decentralized.
PPLNS Payout System
P2Pool uses a PPLNS (Pay Per Last N Shares) payout system which awards miners more the longer they mine, sort of like a loyalty system. A drawback to this system is that part time miners that aren't 24/7 won't be able to earn that much.
While Network 1 is catered towards 24/7 miners and people who have dedicated mining rigs, Vertcoin has a second P2Pool network where part time miners and miners under 100 MH/s can go to mine.
Mines Directly to Your Wallet
P2Pool mines directly to your wallet and cuts out the middleman. This reduces the likely hood that the pool will run away with your coins.
Since P2Pool is decentralized and has different nodes for you to choose from there will be no downtime because the P2Pool network does not die if one node goes down. You can setup a backup server in your miner so that you will have no downtime when mining.
Anonymity and Security
When using P2Pool you use a wallet address making your real identity anonymous, you are simply known by a random 34 letter string. Along with using a wallet address instead of a username there is no password involved P2Pool preventing the possibility of cracking your pool account (If you were on a traditional pool,) and stealing all your coins.
How do I Find a Nearby P2Pool Node
You can find the public p2pool nodes the the P2Pool Node Scanners. If you want to find a network 1 node go here. If you want to find a network 2 node go here.
The quickest way for you to get help is for you to join the Vertcoin Discord Group. We almost always have knowledgable Vertans, whether that be developers or experienced Vertans, online to help you with whatever problems you may have.
How can I donate to the Developers?
You can donate to the dev fund at https://vertcoin.org/donate/. You can select what you want your funds to go to by donating to the corresponding address. You can also see how much funding is required and how much we have donated.
The Vertcoin developers currently have a trello board where you can see the goals and what the status of said goal is. You can also vote on what you want the Vertcoin developers to focus on next.
What is the Status of the AMD Optimized Miner?
The AMD Optimized Miner internal beta is aiming to be ready by the end of September. The AMD Optimized Miner is currently being developed by @turekaj on the Vertcoin Discord. He currently does not have a Reddit account and Discord is the only way you can contact him.
What Does Halving Mean?
Halving means that the block reward for miners will be split in half. Halving happens around every 4 years for Vertcoin or 840,000 blocks. This means around December miners will only receive 25 VTC per block instead of the current 50 VTC per block. If you would like to add another question to this list please comment it and I will get around to adding it ASAP.
Whats considered a STABLE and TRUSTABLE pool for DGB Mining on scrypt algo? theblocksfactory.com; when i check their BitcoinTalkThread i see several people complaining about pending payments Hash-to-coins.com: similar issues Mining-dutch.nl; lot of network errors lately, yesterday 3 blocks in 1 day. Can anyone recommend me a decent pool with a decent hashrate, where payouts go smoothly?
How to Earn Money Mining Virtual Currency With Your Average Computer - A Full Guide
Lately I've been exploring some alternatives to the typical grind that is online work. I've always followed Bitcoin pretty closely and knew of Bitcoin mining, but I was also aware of how difficult it's become. The difficulty is so high it's not even worth trying with the average computer. However, as of late there has been an explosion of new virtual coins. There are now hundreds (if not thousands) being mined. There is debate on how much of a help or hindrance all these altcoins are to the world of virtual currency, but regardless they open up a lot of chances to earn money with your average computers unused resources. I decided to start digging into all the altcoins and find one that was new, easy to mine, had a solid and dedicated dev team, and a solid purpose so it's less likely to die off. What I ended up with was CasinoCoin. At the time it was sitting around $0.009 USD each, and fit all of my requirements. I took my two laptops with their i3 cpu's and no gpu's (20kH/s total) and set them to work mining at MooPool.com. A couple days later around the time I hit 300 coins the price jumped up to a peak of $0.11, and my poke at mining altcoin turned into $33. Now I'm not saying this is a ton of money, but consider the fact that I was only mining at 20kH/s on CPU's. Better computers (especially those with GPU's) will mine many more CasinoCoins. So with my recent tests a success I figured I'd share my findings and make an easy guide to mining virtual currency. This quick guide will be done for CasinoCoin over at MooPool.com since it's my coin of choice, but can be applied to any virtual currency. GPU Guide (You can run a miner for every GPU and CPU you have) To my knowledge the most efficient GPU miner at the moment is CudaMiner
cuda miner is a miner specifically designed for Nvidia's architecture. Nvidia's cuda cores are not well suited for alt coin mining, so cuda miner helps you to get the most of Nvidia cards. If you have an AMD GPU, cgminer is what you want to use. -zekezander
Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username & Password (--userpass account.worker:password) (If you have multiple GPU's you may need additional changes to your bat file, I'm not sure how to set this up.) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" worth 50CSC each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get CSC. Lastly you need to download a personal CSC wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. CPU Guide To my knowledge the most efficient CPU miner at the moment is Pooler CPU Miner Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username (-u account.worker) Password (-p Password) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" worth 50CSC each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get CSC. Lastly you need to download a personal CSC wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. Turning your CSC into USD In order to sell your CSC you will need to use an exchange. So far Cryptsy(Ref) - Cryptsy (Non-Ref) is the only site that does CSC exchanges. When you're happy with the price sell off your CSC for BTC. Next take your BTC and send it to CoinBase(Ref) - CoinBase(Non-Ref) where you can easily sell it for USD and have it sent to your bank account. Hope this helps some of you out, Happy Mining! If you found this of use and would like to donate these are my wallets, or you can just mine with the sample .bat launchers for a bit :) CSC: CZcoArhSWT4hYPYUkVVvV5NswL3AvBBH3W BTC: 152GbYdHrU8QtCf4YpJaqNR5WPR6ZpTC4q
West Coast USA Digibyte Scrypt P2Pool Node. 0% Fee
Hey all, I recently put up a DGB mining node for any miners out there. Scrypt only for now but if anyone is interested in mining via the other algorithms I can certainly look into setting one up! If you're not familar with P2Pool, it's a little different than other pools. Read more about that here. Anyways, I welcome any of you to join my Scrypt pool if you're interested in checking it out. There's a link to our mining group discord at the top of the pool as well if you want to drop by/have any questions! Just know it takes a day or so for your payouts to ramp up to max, but typically it pays out better than other mining methods from my tests. Location: San Diego, CA USA Connect to: stratum+tcp://dgb.brutang.work:5025 Worker: your DGB wallet No password. Web Interface: http://dgb.brutang.work:5025/static/
REAL LEGIT and PRO Ekrane - a platform for providing services in all mining process
Ekrane - a platform for providing services, for working with the use of cloud mining, PoS -forging mining and browser-based mining. Fundamental crypto-business : Cloud mining, Masternode, Browser mining, Mining-mix The legal side is the company EGALITY (LMD), technical development - E-GAME (AVG). Ekrane - implemented as a multifunctional tool, a unique service for business, with a user-friendly interface and a simple management model. The goal of the development was to simplify the provision of services in the field of cryptichesh extraction with available methods and to unite into a single mechanism, in the form of a business building strategy, accessible to each participant of the process. Equipment: Rental capacity. Now Ekrane not only leases the computing power of a hasht for bitcoin, litecoin, ethereum and other complex algorithms, but also invests in the power of partners to increase the flow of profits. At the moment, we are expanding the spectrum and increasing the capacity of cloud-based crypteshesh, using a hash lease in special cloud services, accumulating power in their data centers and farms. This is a new model of earnings, which creates groups (mining pools), with one goal: to get more revenue, in comparison with the usual distributed mining, due to the equipment management by the contractor, the technical and software components. The capacity rent spectrum is directed to special crypto-currency farms, which are computer complexes with a large number of ASIC-devices united into a single computer network of algorithms. Contracts for cloud mining with services: Lifetime Technology (Thailand) Co. Ltd (cryptominingfarm); (Flymining); (Eobot); (Bits2u); (Hashing24); (F2Pool Discus Fish); (BWPool) allow you to provide rental and power purchase services, under the algorithms SHA3, SHA256, Scrypt, Scrypt-N, X11, X13, X15, accumulated data centers and farms. You can apply for a loan to purchase hashrate power (the maximum size is 0.01 BTC) or a loan for the Masternode investment (maximum is 0.03 BTC). The loan period - until maturity, the interest rate is fixed and amounts to 12%. Loans have a designated purpose and can be used to purchase or increase the power of a hashrate. After the loan is issued, the funds must be used as intended within a period of not more than 168 hours from the moment of registration, otherwise the loan amount and interest will be withdrawn from the wallet for purchase balance and the loan service will not be available in the future. Repayment of the loan is as follows: for any accruals to your wallet for payouts, 50% of the accrued funds are automatically withdrawn in order to repay the loan. Withdrawal of funds will be stopped after the loan amount and the discounted interest rate has been fully repaid (12%). Loans are available only to users who used the starting hashrate power of cloud mining. The user can not make more than one loan at a time. The next loan is possible only after the full repayment of the previous one. Be careful, activate the credit limit only for the use of funds for the intended purpose. Be careful, activate the credit limit only for the use of funds for the intended purpose. The minimum deposit amout: - For Rent: 0.0075 BTC. - For Purchase: 0.05 BTC. - For Masternode: 0.1 BTC. - For Mining-mix: 0.002747 BTC. The minimum payout amount: 0.0015 BTC. Referral program depending the Level: - Partner-Mining: 2.5%+1.5%+1%+0.75%+0.5%+0.25%+0.2%+0.15%+0.1%. - Partner-Invest: 6%+4%+1.5%+1%+0.5%+0.4%+0.3%+0.2%+0.1%. - Partner-Masternode: 5%+2.5%+1%. The fee is fixed and amounts to 1000 satoshi per partner. Charging is carried out on the wallet for withdrawal. Under the terms of the program, all invited partners must be active: - activation of the account is obligatory by confirmation by email; - activation of the bonus capacity of cloud mining in the "Base" tab is mandatory. Payment methods: Bitcoin. START HERE AND BE A REAL PROFESSIONAL of Mining: https://ekrane.net?reg=bevzeogwepcfdhx
OK, let's try this again, as my first attempt was misunderstood... GHash.io is about to unleash multipool hell on dogecoin. Get of your rear ends and do something about it before we get screwed over just like we are with Wafflepool.
GHash.io (the single largest Bitcoin mining pool https://blockchain.info/pools) is currently beta testing a Scrypt Multipool that will mine Dogecoin, among others, and dump/convert to either BTC or LTC on their own CEX.io exchange. Nothing we can do will stop this. It's going to happen. However, if we as a community, could convince them to at least offer a payout in Doge as well as BTC & LTC at least that will minimize the damage somewhat. Because then other coins would be sold and converted to Doge resulting in less Doge dumped on the market. If I'm wrong here, please feel free to let me know. Otherwise, here is their twitter https://twitter.com/ghash_io or you could also sign up for an account and send a request to their support desk. A lot of people have been asking for something like this around here lately anyway (a multipool that pays out in Doge).
BITPOWER ANNOUNCES HASHLOFT.IO: MULTI-ALGO MINING POOL
We are pleased to announce HashLoft (https://hashloft.io/) which is open for users all around the world. Bit Power International Inc.(BITPOWER - https://www.bitpower.io) has invested significant resources into developing the most efficient, AI & ML driven Multi-Algorithm Mining Pool. HashLoft currently supports SHA-256, SCRYPT and X11 algorithms, with many more to come. Hashloft’s unique and user-friendly DeversiPay™ payout system, easily allows payouts to be received in Bitcoin, Bitcoin Cash, Litecoin, DASH, and many other popular coins by having a fraction of your income distributed across several cryptocurrencies. HASHLOFT.IO IS CONNECTING THE WORLD Soon we will have optimal geo-distributed mining pool with connection points deployed around the world to improve performance, provide redundancy, and ensure the highest levels of uptime are met. Miners will be automatically routed to their closest geographic location, including: • United States • Europe • …and more to come FEATURES HashLoft provides a special Multi-Algo mining pool which creates the ability to mine any cryptocurrency coin from the most popular hashing algorithms. HashLoft’s flexible platform delivers both public and private pools for enthusiasts and mining farm operators with capabilities ranging from: • Best in class, User-Friendly Pool Management and Control system • Advanced AI and ML-driven logic allowing extraordinary coin hopping efficiencies • A unique payout system allowing fractional multi-cryptocurrency distributions in the coins of your choice • Best-in-class support for ASICs (GPUs is coming in the nearest future) of different vendors and hashing algorithms • Graphical displays for hashing speeds, income and pool statistics. • Up to 3% fees and PPS earnings. Pool Registration, Support, & Ticketing System HashLoft is a VIP, by request, member’s only pool. Interested parties are able to request membership by submitting the Private Registration Request form located on the HashLoft.io website. Upon successful verification and user validation by HashLoft’s Security Team, the user will receive multiple e-mails with the requisite HashLoft credentials. Please note that each HashLoft account request is manually vetted and reviewed by our Security Team prior to being accepted. HashLoft provides fanatical support delivered by Real-People! Your feedback is important for us to develop and improve our products. Ticket page: https://support.bitpower.io Getting Started In order to start mining you basically need just two things, create an account with our pool and setup your miner. 1. Sign-up for a new account • Sign-up (https://hashloft.io/pool_new/signup) and wait for a confirmation email. • Login (https://hashloft.io/pool_new/login) to your account. 2. Configure Your Device In order to mine on HashLoft, your miner(s) must be pointed to one of HashLofts stratum servers below and user credentials for your account have to be specified. HashLoft currently supports several distinct endpoints that support Coin-Switching. • Coin-Switching – leverages HashLoft’s proprietary AI/ML coin-hopping algorithm to automatically mine the most profitable coins at a given time, within a specific cryptographic hashing algorithm. HashLoft users can easily leverage this technology by selecting the appropriate crypto algorithm supported by their miners and HashLoft will generate the connection endpoint. o Scrypt o SHA256 o X11 2.1 Click on the Settings page, in the top, left corner of the HashLoft website, as shown below: https://preview.redd.it/6zon51v3rpw11.png?width=1496&format=png&auto=webp&s=0ca045eb211a59f2d8855922f197788be705613c 2.2 Scroll to the “ENDPOINTS” section located towards the bottom of the page. To leverage HashLoft’s proprietary AI/ML coin-hopping algorithm to automatically mine the most profitable coins at a given time, as a first step, select the appropriate cryptocurrency algorithm supported by your miner, by selecting the algorithm from the drop-down box shown in step 2 below. As an example, for Bitmain AntMiner S9 select SHA256, for Bitmain AntMiner L3+ select Scrypt, for Bitmain Antminer D3 select X11, etc. The final step is to click on the “Generate Endpoint” button. https://preview.redd.it/qtoxxcp7rpw11.png?width=1473&format=png&auto=webp&s=2fc3d6564a9f4e06b3b44f7bd05035d65ff80c22 2.3 A similar popup screen will appear with the Login, Password, Algorithm, and URL details that you will need to use when configuring your miner(s). PLEASE NOTE: The above image is a representation and does not contain your actual configuration. https://preview.redd.it/8h47eccbrpw11.png?width=504&format=png&auto=webp&s=611962a208d7d9ad8c715415f58016d21ecbbe41 NOTE: The above image is a representation and does not contain your actual configuration. NOTE: The password can be an arbitrary text since there is no security issue present here. If someone tried to connect to our servers with your credentials, he would be just mining for your benefit. 3. Setup your payout address To collect your reward you have to set a payout address. It can be done through the Wallet section of the HashLoft pool. The Wallet section allows you to configure multiple wallet addresses for payout, set coin for payout, set payout proportions, and/or withdraw currently mined coins in their present currency without any exchange. If you don’t have an address, you need to get a bitcoin wallet first: • bitcoin.org • bitcointrezor.com To define a wallet address for a specific cryptocurrency, click on the “Define New Payout Wallet” button, select the desired cryptocurrency coin, input your wallet address, and set the desired payout proportions. After all settings have been verified, press the “Save” button. Screenshots Main Dashboard - Many professional miners call HashLoft Multi-Algorithm Mining Pool as one of the simplest and most user-friendly Pools! https://preview.redd.it/9rngyskbspw11.png?width=994&format=png&auto=webp&s=7087a01c55ff9a25b1f4e93a27fb628673aa5cba Payouts/Wallets - Hashloft.io provides the ability to mine any cryptocurrency coin from the most popular hashing algorithms and allows you to configure multiple wallet addresses for payout, set coin for payout and set payout proportions! https://preview.redd.it/hv3obszdspw11.png?width=994&format=png&auto=webp&s=31ec75d9a93e5f7a051d95a8713b94f83da7d9fc
Several people have started to agree with me recently that litecoins aren't dead yet. But I wasn't quite able to give a concrete answer as to why, until a comment reminded me that litecoins are the most widely traded of all the altcoins. BTC-e, for example, doesn't deal in phoenixcoins and ronpaulcoins. Being widely traded is a significant advantage, even if the coin doesn't itself have any advantages. I'm not sure why ASICs are relevant to the price of altcoins. ASICs are going to be distributed amongst miners just like they were with bitcoins; this just makes the miners fight a losing battle with each other, costing each other money. As long as one person doesn't get all the ASICs, it doesn't have any effect on network security. A while back, all the speculation was that litecoins would overtake bitcoins once Mt Gox accepted them for trading. In the interim, however, we have several major exchanges trading them. When an exchange wants to expand into altcoins, they don't look towards the trendiest new thing; the first mainstay they adopt is litecoins. The other advantage litecoins have is that there is a certain amount of "lock-in" with other coins. I've already commented about the concept of technological "lock-in." In this case, you have exchanges like Cryptsy that denominate some altcoins solely in litecoins. I found out that there is a class of altcoins that can only be traded Bitcoins -> Litecoins -> Altcoin. Even if you don't want litecoins, you still have to buy them if you want to play the game with these "penny stock" coins. That keeps their price high because even if merchants do not accept them, they still have utility and "acceptance" by exchanges. Also, a quick thought to ponder: a lot of the reason why people buy bitcoins is that bubbles crash, things change, and bitcoins are still around. Have litecoins reached the point where people expect them to die, they don't, and therefore they think there must be something to them?
Max Keiser recommends Darkcoins; I do not
Max Keiser put out a tweet trying to sell darkcoins to his followers, saying he thinks they will recover after their recent bug-fueled crash. Remember that Keiser was also the one who said to buy the essentially 98% premined Quarks too, and that failure alone might be reason enough to ignore whatever he says. I like the idea that when an altcoin has a lot of hype, it's not time to buy it. Darkcoins may have some benefits, but there is so much hype around them that there is almost certainly a bubble there. Don't confuse that with the idea that darkcoins won't have a niche in the future. However, just like bitcoins, there are times when hype gets out of proportion to the advantages the technology has.
Today's altcoin mining report
Altcoin mining profitability is all over the map today. If I had started testing this pool back during the last cycle, it would have been interesting to see if we could deduce any patterns from this data. As you can see in the charts at: http://shoemakervillage.org/temp/altcoins2014-06-07.jpg there are about 20 coins that are constantly switching as the most profitable. This may be partially a result of those new coins that have extremely fast difficulty adjustments. The chart isn't as useful without being able to mouse over the bars, but it gets the general point across just seeing all the colors. People obviously do not value most altcoins for their specific features anymore; most of them are just a game. There is one trend that is not all over the place: http://shoemakervillage.org/temp/altcoins2014-06-07-2.jpg The expected payout of scrypt coins is at $1.33/Mh/day now, which is completely opposite the trend of increasing bitcoin prices.
The effects of orphanage
Some altcoins reduce the block confirmation time by making the coin ridiculously easy to mine. There's no advantage to creating an altcoin that has huge numbers of blocks, because then all that happens is that your "confirmed' transaction is more likely to get orphaned. In testing, I was getting 30% orphanage rates on some of these fast coins. Look at what happened last night in the course of a few blocks: http://shoemakervillage.org/temp/altcoins2014-06-07-3.jpg However, I'm still trying to figure out whether orphanage actually reduces the pool's revenue or not. The conclusion I'm coming to is that it only cuts miners' revenue from the expected value if your orphan rate is higher than the average orphan rate of the network. If everyone has 30% of blocks rejected, then the blocks are still being created at the same rate and everyone gets the same amount of money. You only lose money if you have more orphans than everyone else does. Am I missing something here? If not, then orphanage is only an indicator of a bug or of monetary losses if I have orphaned blocks for long networks like bitcoin, where having another pool finding a block within a second or two is very unlikely.
None of the altcoins has the innovation that bitcoin needs
The only true innovation from any altcoin that would pose a threat to bitcoin is if someone came up with a yet-unknown solution to the 1MB transaction limit, that will be permanent for an indefinite period of time, and released a new coin with it. Some people mistakenly say that people will switch to altcoins to get around the block size limit, but that isn't the case because the most any altcoin has done to resolve it is to make blocks more frequent, which only raises the limit to some hardcoded value. Raising the limit to some hardcoded value isn't "solving" the problem, it's just putting it off into the future. Don't make a mistake and buy altcoins thinking that some altcoin is going to address that limit, because none has.
Altcoin code is a mess
Altcoins are a mess, when you are trying to compile their code. If you haven't done this with many coin daemons, which most probably haven't, then you probably don't know that almost all altcoins are just clones of bitcoin with some minor changes. This is one of the reasons why bitcoins have such an advantage, because you can't be innovative when you just copy stuff from the bitcoin developers. What some people don't know is that most altcoins aren't even doing that. There are a few altcoins that have changed little in many years, so instead of incorporating fixes that have been included in bitcoin since then, those coins never upgraded to newer block templates and they don't include the latest features. It also means that bugs that were later fixed are still present in those coins. Some coins, like namecoin, are in horrible shape and for many, it's a matter of time before this code aging causes some sort of security issue to be discovered.
Dogecoins are doomed?
Dogecoins are supposedly doomed. The idea is that the block reward is decreasing too rapidly, and the price of dogecoins needs to rise to avoid a 51% attack. I'm not so sure that the developers of dogecoins will just roll over and die, given how large that community is. More likely is that if the price stays stable and more block reward decreases occur, they will release a fork to stop the reward decline earlier than expected. That will devalue dogecoins significantly. If the hashrate of dogecoins starts to drop, I would get out. I don't think the network is "doomed," but I do think that the only solution to the problem is to devalue coins, and you obviously don't want to be holding when that is announced.
Negative "interest" rates
Apparently, the speculation now is that negative interest rates are going to spread to the rest of the world, and that banks will start charging an account maintenance fee, along with eliminating interest payments. In that case, what is the purpose of using a bank? I won't be keeping a checking account if that happens. Instead, I'll close my account, buy a safe and store cash in it, using banks only to trade stocks. I don't think I spent a single dollar in actual cash for the past year before this, so this is a technological regression. What kind of world is this where it is a better idea for me to store wads of cash in a safe instead of putting it in a bank, where they actually take money from me?
How To Dig For DogeCoin With Your Average Computer - A Full Guide
Hello fellow doge's! I posted this guide over at /beermoney and and it received a huge amount of attention. I figured I would modify it for the the DogeCoin pool to help you guys out! Hopefully it helps some of you get started. -Note* This guide was written for CasinoCoin, but I'll modify the information to apply to DogeCoin. Lately I've been exploring some alternatives to the typical grind that is online work. I've always followed Bitcoin pretty closely and knew of Bitcoin mining, but I was also aware of how difficult it's become. The difficulty is so high it's not even worth trying with the average computer. However, as of late there has been an explosion of new virtual coins. There are now hundreds (if not thousands) being mined. There is debate on how much of a help or hindrance all these altcoins are to the world of virtual currency, but regardless they open up a lot of chances to earn money with your average computers unused resources. I decided to start digging into all the altcoins and find one that was new, easy to mine, had a solid and dedicated dev team, and a solid purpose so it's less likely to die off. What I ended up with was CasinoCoin. At the time it was sitting around $0.009 USD each, and fit all of my requirements. I took my two laptops with their i3 cpu's and no gpu's (20kH/s total) and set them to work mining at MooPool.com. A couple days later around the time I hit 300CSC the price jumped up to a peak of $0.11, and my poke at mining altcoin turned into $33. Now I'm not saying this is a ton of money, but consider the fact that I was only mining at 20kH/s on CPU's. Better computers (especially those with GPU's) will mine many more Coins. So with my recent tests a success I figured I'd share my findings and make an easy guide to mining virtual currency. This quick guide will be done for CasinoCoin DogeCoin over at MooPool.com since it's my coin of choice, but can be applied to any virtual currency. GPU Guide (You can run a miner for every GPU and CPU you have) To my knowledge the most efficient GPU miner (for Nvidia) at the moment is CudaMiner
cuda miner is a miner specifically designed for Nvidia's architecture. Nvidia's cuda cores are not well suited for alt coin mining, so cuda miner helps you to get the most of Nvidia cards. If you have an AMD GPU, cgminer is what you want to use. -zekezander
Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username & Password (--userpass account.worker:password) (If you have multiple GPU's you may need additional changes to your bat file, I'm not sure how to set this up.) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" currently worth anywhere from 1 to 1,000,000DOGE each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get DOGE. Lastly you need to download a personal DOGE wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. CPU Guide To my knowledge the most efficient CPU miner at the moment is Pooler CPU Miner Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username (-u account.worker) Password (-p Password) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" currently worth anywhere from 1 to 1,000,000DOGE each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get DOGE. Lastly you need to download a personal DOGE wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. Turning your DOGE into USD In order to sell your DOGE you will need to use an exchange. So far to my knowledge Cryptsy(Ref) - Cryptsy (Non-Ref) is the only site that does DOGE exchanges. When you're happy with the price sell off your DOGE for BTC. Next take your BTC and send it to CoinBase(Ref) - CoinBase(Non-Ref) where you can easily sell it for USD and have it sent to your bank account. Hope this helps some of you out, Happy Mining! If you found this of use and would like to donate these are my wallets, or you can just mine with the sample .bat launchers for a bit :) DOGE: DFNLiSF9NMpyG3hJmna79A1r2BiCtHkN5L CSC: CZcoArhSWT4hYPYUkVVvV5NswL3AvBBH3W BTC: 152GbYdHrU8QtCf4YpJaqNR5WPR6ZpTC4q
Bitcoin and Scrypt Cloud Mining Contracts with HashFlare Now Available at Lower Prices
Passive income with crypto mining is now even more accessible with premier cloud mining hoster HashFlare announcing a special 5% discount on first-time purchases of cloud mining contracts. HashFlare customers need only apply the discount code HF18TOTHEMOON to their purchase order to enjoy cloud mining contracts for a low price of $4.20 per 1 MH/s. Limited period, Limited Availability Already among the lowest-priced products of its kind, these contracts, used for mining Bitcoin and other popular alternative cryptocurrencies, are now 40% cheaper than previously available, thanks to positive results in recent market performances which HashFlare is now transferring to its customers. The 5% special discount will apply on a range of mining algorithms, including SHA-256, SCRYPT, ETH and EQUIHASH, allowing even better profitability margins on a range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin and DASH. SHA-256 — $0.60 per 10 GH/s Scrypt — $1.80 per 1 MH/s The Leading Pioneer of Cloud Mining Services With over three years of successful operations, HashFlare has been offering passive income opportunities via shared cloud mining options on its platform, allowing anyone in the world to take part in the exciting and profitable cryptocurrency mining industry. Users can access a full-feature platform that includes the ability to select mining pools, view proof of hash rate and request for instant payouts. This allows for more advanced account management, giving users the ability to monitor real-time hashrate subscriptions and switch over to more profitable mining pools at any time. Cryptocurrency mining represents the work performed to secure the various blockchain networks upon which the world’s major cryptocurrencies operate, with mining activities helping to secure the network as well as verify and validate transactions made over the network. However, retail customers are faced with a high entry requirements, with highly complex and technical requirements making it difficult to enter the industry. Cloud mining services such as that offered by HashFlare lowers this entry requirement, making it easy for anyone to participate in the new crypto economy, owning a share of hash power without needing to worry about overheads management, equipment maintenance and technical operations. Raising the Bar Many have reviewed the successful use of HashFlare offerings, such as this popular cloud mining review site, acknowledging HashFlare’s long standing reputation in being one of the most reputable and secure providers available today. To experience the features and look at options available on the the HashFlare platform, register now for a free account and apply the discount code HF18TOTHEMOON to your first purchase of a cloud mining contract. Furthermore, you can earn referral commissions via the HashFlare affiliate program that rewards you with 10% on every new registration that also purchases a new contract. Discover the opportunities for you to participate in the crypto mining industry with the best value offer on the market with HashFlare, the cloud mining service provider with zero maintenance fees, at https://hashflare.io.
NOTE for CPU mining: The default CpuMiner-Opt binary has been changed to the sse2-version that is compatible with more systems. To change, please refer to the CPU mining guide on the Awesome Miner help pages.
Adjust to Zpool SHA-3 (Keccak) profit reporting change
Cast XMR Miner 0.8
Removed flickering in View Details dialog
Correction to benchmarking feature when custom exe-file is specified for CpuMiner-Opt
Correction to Awesome Miner API method for executing rules
NOTE for Managed profit switching: For zpool, Hash Refinery and GranatGas pools, the default is now to append c=BTC to select Bitcoin payouts. To disable, go to the Options dialog, Profit Switching section.
Select all/none buttons for Benchmark dialog
Correction to DSTM API for specific device values
Antminer API Access automatic configuration will only trigger if miner has been in restricted mode more than once within a time period
Correction to statistics triggers on External Miners
Correction to application slow response under certain conditions
Cast XMR miner supported as Managed Miner
New settings for wait time before terminating mining software and delay for auto starting miners on bootup
Command line and custom exe-file configurable per Managed Profit Miner
Remove miner added to context menu in miner list
South African Rand added as display currency
E-mail configuration includes a button for sending a test message
Disabled Blake2b (sia) on Ccminer
Correction to Wallet balance list
Correction to benchmarking
Claymore Ethereum Miner 10.2
Adjusts to new the zpool SHA-256 profit reporting
Correction to the pool list for DSTM Zcash miner when running as External Miner
Correction to pool change operation on Claymore Zcash miner running as Managed Miner
XMR-Stak miner can be monitored as an External Miner
More flexible configuration of Block Explorers for the wallet balance feature to support more coins. Bitcoin Cash, Bitcoin Gold and Ethereum Classic are now supported by default.
Correction to profit threshold feature
Profit switcher can be configured with a threshold to not make a switch on small profit improvements
Configurable to display Antminer chip temperature in the miner list
Configurable to display average temperature in the miner list
Added feature to faster find a miner in the list, via the new Find toolbar
Command line parameters configurable per pool for the profit switcher in the Options dialog, Online Services section.
A miner group can be defined as the default group for adding new miners
Network scan for External Miners will only consider IP address, not port, to identify if it's a new miner
DSTM Zcash Cuda Miner supported
Correction to Offline Detection of Managed Miners
Notifications via Telegram using Cloud Services
Support variables in notifications messages and Webhooks, to provide dynamic information based on the miner that triggered the notification. See Notifications help page on the web site for details.
New Rule action to apply a Managed Template to one or more miners
Filtering of miners in the Options dialog to faster find a specific miner by name. Filtering also supported when applying Managed Templates.
Show IP address of the selected miner in the Summary tab
Correction to Performance History when generating reports including both daylight saving time and standard time
Correction to Bitcoin network hashrate
Increase from 5 to 7 customizable coins with exchange rates in the status bar
Awesome Miner API includes ASIC miner hardware type in response
Added New Zealand dollar as display currency
Adjust to recent change for Zpool Scrypt, where profitability is specified in TH/s instead of GH/s
Adjust to recent change for Nicehash Scrypt and Lyra2REv2, where profitability is specified in TH/s instead of GH/s
Correction to profit switcher dual mining scenario where it could crash on some configurations.
Version 4.1 IMPORTANT: CcMiner 2.2.2 requires nVidia Drivers 384.xx or later for Cuda9 support.
GPU Clocking profiles configurable per Profit profile and per algorithm for the profit switcher
Set worker name and wallet address per Managed Profit Miner when using custom pools with the profit switcher
View profit switching decisions for External Profit Switcher in View Details dialog
Configurable pause time between stop and start of mining software by the profit switcher, via Options dialog Advanced section.
Added GranatGas and HashRefinery to the profit switcher
Pool configuration via built-in web interface (disabled by default)
Pool permissions configurable per user group
Worker name for pools can use alias [ComputerName] to be replaced by the name of the computer running the mining
Webhook can be customized per notification action, to override global webhook settings
Added pool setting to ignore worker name specified on miner
New setting to include revenue per month in group summary in Miners tab
Notifications and rules
Notification operations available for non administrators via the built-in web interface, only operating on the notifications for the specific user
New action to set Antminer default pools
New trigger to detect low device count for a miner, to find out when a GPU is missing
New trigger to detect low fan speed, to find failing GPU fans
The trigger for detecting pool URL can also match a specified worker name
Show more devices temperatures in the Status column
Show Bitcoin values with more decimals when needed
Filter Online Services based on selection of Profit Profile
Hyperbit BWL21 ASIC miner support
Ethminer (nVidia) can be monitored as External Miner by selecting Claymore Ethereum Miner as software
New provider for exchange rates for the local currencies
Claymore Ethereum Miner 10.1
Correction to the profit switcher, Coinwarz API, GPU clocking configuration, e-mail sending performance and a several minor corrections
Increase the number of characters allowed for Webhooks
Number of restart attempts for a crashed miner is made configurable in Advanced section of Options dialog
Include hostname in API response for miners
Correction to the multi-user configuration in the Security section of the Options dialog
Correction to Block explorer for Litecoin
Added scrolling to Options dialog, for low resolution displays or large font sizes on some Windows languages
Workaround for toolbar display issue when using Windows in Korean language
Several minor corrections
New setting for configuring and enforcing an API key for the Awesome Miner HTTP API
Claymore CryptoNight GPU Miner 10.2
Corrections to algorithm launch parameters for some mining software
Improved branding support of Awesome Miner
Awesome Miner API introduces a new method for getting the same summary information as being displayed on the dashboard
Awesome Miner API methods supports filtering the responses to only include information that the specified user is allowed to see
Several minor corrections
Antminer D3 supported
Support IP address variables in the Worker name field of the Pool Properties.
Added Philippine Peso as display currency
Better support for CpuMinerOpt by adding the possibility to specify exe-file name of the mining software. Some CPU types requires instruction sets provided by a different CpuMinerOpt executable.
Remote Agent icon can be configured to be hidden
Improvements to profit switcher, including a history of previous profit switching decisions in the View Details dialog
Added Japanese Yen as display currency
Several corrections, including use of new Blockchain API to show BTC balance
Awesome Miner Cloud Services
Cloud Services is an optional subscription service that adds additional features to Awesome Miner
Web interface hosted in the cloud. All monitoring statistics are pushed to the cloud by Awesome Miner and can be accessed from any computer, tablet or smart phone.
Mining operations can also be controlled via the cloud without any firewall configuration
SMS notifications, send SMS as rule action and send SMS manually
Listen to Awesome Miner heart beat and send a notification if missing
Multiple instances of Awesome Miner can all send data to the cloud, and each site can be individually viewed from the Cloud web interface
More flexible algorithm configuration. New algorithms can be defined by user and configured for each mining software.
More flexible Online Service configuration
Managed Software can be added and used by both Managed Miners and by the Managed Profit Switcher. Define custom command line arguments for new algorithms per mining software.
GPU clocking profiles can be defined and automatically applied when a Managed Miner is starting and/or stopping. Works without any dependencies on the mining software being used.
New algorithms and coins added
Display Claymore miner invalid shares as HW errors
Ccminer 2.2 replaces older Ccminer SP-mod
Claymore Ethereum Miner 10.0 (changes GPU order - may require updates to 'Map to system monitoring' in Awesome Miner)
Claymore Zcash Miner 12.6
iBeLink fully supported with temperature
Antminer R1-LTC hashrate correction
Better detection of Antminer types in the network scanner
Benchmarking of algorithm hashrates
Profit switching improvements, including configuration to disable individual algorithms per pool and separate dual mining hashrates
Managed Profit Miners can be configured with environment settings like Managed Miners, where window mode and processor settings can be defined.
Managed Profit Miners can override global worker names for default profit switching pools
Better support for multi-algorithm coins like Digibyte
Configurable to use current or 24 hour statistics for profit switching and profit display
The coins listed with exchange rate in the statusbar can be customized
Added 6 more currencies, to support display in local currencies for more countries
Moved e-mail server configuration to a separate section in the Options dialog
Add user defined WhatToMine coins not listed in the main API
Window glass mode can be configured
Rules, integration and configuration
New HTTP API's: Perform operations on a single notification. Includes Group Id information for miners. Get list of Managed Templates and apply templates to a miner.
Custom e-mail address can be set for a notification action, to override the global e-mail address to send notifications to
Rule triggers to detect when the computer is idle and used, to support start of mining when the computer is idle
Rule action to execute command (any application) on remote miner and also access the the remote execute feature from the System tab
Execute action can use the variable [Host] for the parameters, to launch external applications with the hostname/ip of the miner as a command line argument.
Web interface includes secondary hashrate if available, coin information in smart phone mode and corrections to notification display in multi-user environments
Both worker name and password field can use variables [IP1], [IP2], [IP3], [IP4] to replace with IP address segments for External Miners
SSL configuration for built-in web interface
Webhooks as notification target and rule action
Corrections to SMTP library to support Office 365 accounts
Correction of Block Explorer request for zcash for the Balance feature
Adjusted for new hashrate reporting on some algorithms at Nicehash and zpool
Overview - Table of Contents Introduction to Earning in Bitcoin Work for Bitcoin Sell for Bitcoin Affiliate Programs Gambling Bitcoin Mining Hardware Mining Cloud Mining Introduction to Earning in Bitcoin Bitcoin is the most popular digital currency in the world today. Bitcoin cloud mining is the fastest way to immediately begin earning bitcoins. Bitcoin is built using very complicated cryptographic principles, and supported by countless individuals and companies from all around the world. By early 2016, total Bitcoin market capitalization had crossed USD 7 Billion, making it almost as valuable as the GDP of a small country like Bahamas. All the other digital currencies together do not constitute even 20% of Bitcoin’s market capitalization, underlining the its dominance and importance in the world of digital currencies. With such a huge amount of world’s capital available in the form of Bitcoins, the number and types of opportunities to earn in bitcoins are increasing by the day. In this article we will discuss such opportunities that help us earn bitcoins. We will start with the easiest, or the one that is applicable for the maximum number of people, and then move to the tougher ones. In the end we will cover earning bitcoins by mining. Bitcoin mining is not an easy way to earn bitcoins, but we do have a number of easier ones we will discuss first. So lets start with ‘earning bitcoins by offering your services’ Work for Bitcoin Perhaps the easiest way to earn bitcoins is to work online or in real life for bitcoins. Because of the huge size of the bitcoin eco-system, a number of such opportunities and jobs are available. With Billions of dollars invested in Bitcoin by tens of thousands of people, there is a real market in Bitcoin, where you can find jobs for freelancers, software developers, writers, and others who get paid in bitcoins for their services. Software development, writing, design, making websites or apps, audio transcription, are some of the most active types of jobs. You can easily discover the types of jobs by going over the more popular job boards for bitcoin related work. The following job boards or forums are some of the best places to look for such jobs or gigs. Freelancing XBTfreelancer Cryptogrind Bitlancerr Coinality Bitgigs Jobs4Bitcoins Rein Project Crypto Jobs List Market Places OpenBazaar Purse.io Bitify /bitmarket 21 Market Video Streaming Watchmybit Streamium.io Tasks Bitasker BitforTip WillPayCoin File/Image Sharing Supload.com SatoshiBox JoyStream Advertising CoinAd A-ads Coinzilla.io Also, check BitcoinGames for ideas on earning bitcoin and blockchain game assets. Sell for bitcoin You can also get Bitcoin by selling your old laptops, phones or other items for Bitcoins. Such types of transactions are happening more and more, and a lot of buyers are already buying anything from iPhones to even cars by paying with Bitcoins. For Americans, Craigslist.com is your best bet when you want to find such buyers. You can mention in your ad that you are willing to take payment in Bitcoin. This way if anyone wants to buy the item for you for Bitcoin, they can contact you and make an offer. The same principle applies to other online marketplaces such as gumtree for UK, kijiji for canda etc. Affiliate Programs Affiliate programs allow a promoter of a business or product to earn money or bitcoins by refering new clients to such businesses or products. For example, amazon.com has a popular affiliate program, where you can earn commission ranging from 2% to 20% for refering clients to products listed on amazon.com. Amazon normally pays in dollars, but there are a number of other sites and businesses which pay you in bitcoin for acting as their affiliate. Some of the more popular affiliate programs that pay out in Bitcoin are by the sites: cex.io, coinbase.com, okcoin.com and namecheap.com, among others. You can find a larger list of such affiliate programs on the bitcoin wiki page for Affiliates. Gambling We do not recommend gambling for every player or every user; we find that gambling is only suitable for people who know how to win at it. However, if you are one of such lucky users who have some tricks up their sleeves, and can manage to win at games such as poker, then you will find that earning bitcoins is not that hard. One of the many applications of bitcoin since the very beginning have been in betting games or gambling. Because of the relative anonymity of bitcoin, and the lower fees, it is very suitable for gambling related applications. Indeed, one such game, satoshiDICE, has been running since 2012, and has paid out a huge number of bitcoins in innumerable transactions to its winners. There are many such games, which you can find be googling. If you want to gamble totally anonymously, you can play gambling or betting games that are available only on darknet or .onion sites. Such sites allow you to browse them anonymous by operating on the tor network, which is a secure network that allows users to browse .onion websites without exposing their own IP address. Bitcoin Mining For each block that is added to the Bitcoin Blockchain, a number of bitcoins are rewarded to the creater of that block. This reward is currently, as of June 2016, 25 bitcoins per block, and it halves every four years. The next halving will be in July 2016. Creating or finding the new blocks, and therefore winning the reward of 25 bitcoins for each block you create, is called bitcoin mining. To do bitcoin mining successfully, you need very powerful computers, which compete with other computers to find the next block. The speed or power of computer that do bitcoin mining is calculated in hashes calculated per second. There are two ways to do bitcoin mining: one is to own hardware or computers that do the mining, and second is to hire the hardware from a third party, usually online, and do the mining on the cloud. Let us discuss the advantages and disadvantages of both in next two sections. Hardware Mining When you own the hardware that does the calculations and mining of bitcoins, its called hardware mining. Hardware mining is the more popular or prevalent of the two types of mining we mentioned. One of the biggest factors which comes into play when doing bitcoin mining using your own hardware is the price of electricity. If you pay top price for electricity, then bitcoin mining may not be your cup of tea. Another related factor is infrastructure needed to cool the hardware; since every cpu generates some amount of heat, you may need to cool the hardware in case they become too heated. No wonder that some of the most successful miners work from China, specially Tibet, where they can get cheap electricity, and their cooling costs are low due to high altitude which reduces the ambient temperature for them. For a more in-depth information on how to setup your hardware mining equipment, have a look at the Antminer setup page. Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are: AntMiner S7 AntMiner S7 Bitcoin Miner 4.73 Th/s 0.25 W/Gh 8.8 pounds Yes $479.95 AntMiner S7 Bitcoin Miner 0.1645 AntMiner S9 AntMiner S9 Bitcoin Miner 13.5 Th/s 0.098 W/Gh 8.1 pounds Yes $1,987.95 AntMiner S9 Bitcoin Miner 0.3603 Avalon6 Avalon6 Bitcoin Miner 3.5 Th/s 0.29 W/Gh 9.5 pounds No $499.95 Avalon6 Bitcoin Miner 0.1232 Cloud Mining There are a number of service providers that allow you to rent computational hardware from them, which can then be used to do bitcon mining. Some of these services are designed with bitcoin mining in mind, whereas others such as Amazon AWS are general purpose services that can also be used to do bitcoin mining. Some of the cloud mining services which can be used to do bitcoin mining on the cloud are: Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s. Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available. Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible. Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more. Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin. Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200. Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out. NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices. Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months. MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s. Written by Bitcoin Mining on May 4, 2016.
Cloud Mining Advice: Genuine vs Scam Crypto Mining Sites
There are few confirmed crypto mining outfits out there that definitely do not scam people: Bitcoin.com - https://pool.bitcoin.com/index.html?code=ekmrxm (not the cheapest, but they do seem to have extra bonuses making up for it - and they are solid) Hashflare.io - https://hashflare.io/d586f47e (Cheaper than bitcoin.com and more mining options but also more blurry fees) Genesis Mining - https://www.genesis-mining.com/a/1914871 (One of the oldest mining outfits out there. In between hashflare and bitcoin.com in price but often sold out on BTC / Sha266 mining) Semi/possible scams:
All "mining" options offering daily growth of set sizes are basically scam as they do not actually mine at all, they live on the ponzi scheme of paying yesterdays joiners with todays money. It will pay for a while - then collapse and disappear. Stay away from offers like bitconnect, neoconnect etc - though sometimes referred to as mining, they do nothing of the sort
Nicehash is actually a genuine platform where you rent hashrates from private miners. You can rent for monero mining, oldschool sha266, scrypt, x11, x12 etc etc. You basically rent a mining rig, attach it to a pool and collect the coin. Hard to find outright profitable rentals, but some digging can reveal goodies. The reason it is in possible scams is the recent hack of nicehash emptying their bitcoin account, thus leaving is a bit uncertain if you will get paid and/or serviced. Nicehash is probably fine to use still - just be a bit cautious
Minergate. A simple mining option usable on phone/cpu/browser. People report hashrate skimming, minimum payout tampering, high fees on cloud options etc, but some also report actually being paid so it probably isnt a complete scam.
Fflakmining. They offer "free" hashrates on signup (released if you actually buy something). They lack proof of operations and dont seem to have independent verification to be found anywhere. But they do have a legit looking system and site, or in other words its a clever variation of mining scams - or it will actually turn out to be legit. Approach with caution but dont write them off completely either
You cannot use your sha256 ASIC to mine doge "directly" yet, but it's also not impossible, just in case you don't feel like mining BTC and converting it to DOGE, there have been pools that does that and pools that simulate that, and the choice is yours. Pools that payout in doge: Coinking - you can point your SHA Miner to this pool and use your dogecoin wallet as your username, you will be paid doge. http://coinking.io Eobot.com - Eobot simulates the speed you get from your sha256 into scrypt, it also supports cloud mining dogecoin, in other words no matter if your shares are valid or no, you still make constant amount of doge, and if BTC price goes up you will be making more doge at that point, if doge price goes down, you also be making more doge. here is my profile and how much dogecoins I made: https://www.eobot.com/use222203 This way doge goes to the moon faster as this is also simulating high demand for doge, you can go on and buy doge directly and miss the fun. so this was the best ways to use bitcoin hardware to mine dogecoin for new comers I hope you find this helpful.
Hey miners! I've made the bare minimum changes to p2pool to mine AUR. p2pool is a decentralized mining pool (no fees!) The code can be found here: https://github.com/tumist/p2pool-aur I'm currently running it on two nodes so that it bootstraps the network, but I've only got one CPU that I can use for mining so I'm not going to find any blocks by myself. To run p2pool-aur, make sure your AuroraCoind is running with the RPC server configured. Clone the repository (or download the ZIP that github offers), install the bundled litecoin_scrypt python module and run p2pool-aur with:
2014-02-07 00:44:46.909199 P2Pool: 144 shares in chain (148 verified/148 total) Peers: 1 (0 incoming) 2014-02-07 00:44:46.909252 Local: 37982H/s in last 40.0 seconds Local dead on arrival: ~0.0% (0-1%) Expected time to share: 1.1 minutes 2014-02-07 00:44:46.909273 Shares: 1 (0 orphan, 0 dead) Stale rate: ~0.0% (0-80%) Efficiency: ~101.4% (20-102%) Current payout: 19.9860 AUR 2014-02-07 00:44:46.909298 Pool: 548kH/s Stale rate: 1.4% Expected time to block: 2.6 days
Now you can point your miner to http://localhost:12347. God speed and good luck!
I knew nothing of cryptocurrencies before I stumbled across this subreddit looking for the origin of the doge meme - I had heard of bitcoin - but all I knew it from was it's connection to Silk Road. Although I am primarily a lurker, I have been taken aback by the kindness, generosity, and spirit of this community. I downloaded cgminer the other day and, after some frustrations, got it up and running. I started with rapidhash (I don't even know if that's a good pool to be on, I just picked one at random) and set my auto payout to 500. I was super excited when I woke up this morning to see the little notification box in the corner of my screen, but what really got me was realizing that I wasn't as much excited that I had those coins, but that now I could participate in tipping! I still have so much to learn. I just started looking at trying to build a scrypt mining rig for under $200, and I'm in way over my head, but doggone it if this isn't fun! tl;dr: such coin, many joy, so puppy, soon become great shibe!
Automines a basket of the most profitable alternative coins!
Our intelligent, built from ground up, server daemon determines the amount of mining power to allocate to each coin in our basket constantly! This reduces the payout variance when an individual coin profitability spikes or tanks during short intervals!
Payouts are determined in a modified PPLNS system, which takes into account each coin in the basket's mining difficulty and the shares submitted by each user during the payout interval.
Automatically exchanges and payouts in your desired coin! No more maintaining multiple wallets!
Currently supported payout coins (list will be updated to accomodate more coins in the near future) - bitcoin - litecoin - dogecoin To use, simply point your miner to pool.altcoinplex.com:5555 with your Payout Address as username, and Payout Coin as password. For bitcoin users, ./minerd --algo=scrypt --url=stratum+tcp://pool.altcoinplex.com:5555 -u -p bitcoin ./cgminer –scrypt -o stratum+tcp://pool.altcoinplex.com:5555 -u -p bitcoin ./cudaminer --url=stratum+tcp://pool.altcoinplex.com:5555 --userpass=:bitcoin For dogecoin users, ./minerd --algo=scrypt --url=stratum+tcp://pool.altcoinplex.com:5555 -u -p dogecoin ./cgminer -scrypt -o stratum+tcp://pool.altcoinplex.com:5555 -u -p dogecoin ./cudaminer --url=stratum+tcp://pool.altcoinplex.com:5555 --userpass=:dogecoin You can view some simple stats on your account (we are working on showing more detailed and informative stats) at http://stats.altcoinplex.com/users//.html For bitcoin users, http://stats.altcoinplex.com/users/bitcoin/.html For litecoin users, http://stats.altcoinplex.com/users/litecoin/.html
The alternative is joining the best Scrypt mining pool. If you’re not interested in investing in the market, and find it too volatile to trade in, then sticking with mining can be a viable solution, if you join one of these major mining pools and increase your chances of earning each day. Mining pools are basically groups of miners who work together, pooling their resources to mine coins ... Pool offers Instant Payout immediately when block found via Coinbase transaction. These are Newly Generated coins with no previous input and you may spend it after 101 confirmation by network. You will get 99% of block value to your address, no any shares calculation or complex payout schemas. Merged Mining Pool for Bitcoin, Litecoin, Dogecoin, Darkcoin, and other alternate cryptocurrencies. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. This small Bitcoin mining pool offers a PPLNS payment model, charging a 0.9% fee. With regard to payout, per each block found you will need to wait +101 block confirmations to get paid, which might take some time. The pool’s interface could do with an update as it’s not the most user friendly. It doesn’t have much in the way of features, but it does have two-factor authentication as an ...
Bitcoin Mining- First Payout EpicReviewGuys CC - YouTube
What is a mining pool and why is it best to mine Bitcoin and other cryptocurrencies on mining pools? Here is our review and explanation of mining pools, how ... BTC.com is a popular block explorer bitcoin mining pool. This tutorial will demonstrate how to mine bitcoin on btc.com mining pool. #bitcoin #miningpool #cry... Today i will review the website that proclaimed to be generating bitcoins quickly. Is it Legit or Not? Free Bitcoins Giveaway 0.01 For my subscribers! This R... After two months of Bitcoin mining with our Bitmain Antminer- http://bit.ly/AntMiner we finally get our first payout. But re-doing the math I can see where w... Bitcoin mining pool slushpool offers a new AI and a powerful dashboard. This tutorial will demonstrate how you can setup a worker on slushpool to mine bitcoi...