Tuesday, 20 March 2018

Monero Forking To Stop Asics

As you might have seen in seven days roughly Monero will be forking to a new algorithm, CryptoNightV7. Why you may ask? Well this is because of a new breed of ASICs that have been released by Bitmain and another mining company. I cannot tell you enough do not fall for buying into the cryptonight ASIC miners, by the time you get it you will never ever make a return on it. Especially with all the main CryptoNight coins looking to fork over to a new ASIC proof algorithm

Bitmain are currently selling these miners for $7000 and are expected to be dispatched in May, which means by the time you get this miner Monero will have forked and expect earnings to be drastically lower. Normally I support Bitmain having bought from them for a long time, but these stand out to me as a big no no. Especially if you look into XMR's network hashrate the last few months you can almost see where these have been introduced. Some of you might be willing to take a gamble or a risk on these as the figures look to good to be true, please be careful and if you do get one please send us some feedback

XMR Countdown clock can be seen here

Tuesday, 13 March 2018

Resources For Learning Cryptocurrency Trading

As some of you may know who follow my Twitter I have decided to take on trading, I am still trying to mine as much as possibly but learning trading signals is something I have always wanted to learn. Its very daunting at first almost like learning a new language but once you start doing a few online courses and playing with a few trading exchanges it all starts to become a little less scary.

I am still very new in trading but I would like to share with you guys some of the resources that I have been using to learn more about technical analysis and also just the terms used in trading. When I first heard people talking about being 'Bullish' and 'Bearish' I was like what the hell are these people going on about.

Hopefully these will provide you with a bit of help as it did me

Beginner Technical Analysis

Purpose Built Crypto Heater

When you think you have seen majority of innovations in the crypto world something always comes along to surprise you and the QC1 will definitely do that. The QC1 is the world's first purpose built crypto mining heater, which will mount to your wall heat your house and mine your favourite coins. The heater has two RX580 graphics cards inside which they say will mine at a steady 60MH/s while heating your home

Think of it as a computer and the whole outside is a huge passive cooling system, it uses 650 Watts but in case of the room being really cold it also has two inbuilt resistors to provide additional heating.

Now I have a few issues with this product....  Firstly, what the hell are you going to do in the summer? You want to do some mining but its hot outside you aren't going to turn your heater on to start mining. Secondly the price, it has a retail price of 2900 Euros which is roughly $3575 which for two RX580's to mine only in the summer in quite frankly ridiculous. As you can imagine the QC1 I am pretty sure unless you have free electricity will never provide you with a return on your investment and as the mining world moves forward and the RX580's become old and slow you will be left with an inefficient heater.

So if you leave somewhere that is permanently cold and have free electricity then this could be what you have been searching for. If not don't bother

You can check out the QC1 for yourself over on the official website https://www.qarnot.com/crypto-heater_qc1/

Monday, 12 March 2018

Trade Bitcoin Futures On Bitmex

Bitmex is an important website for anyone who has been trading for a little while and now is ready to start trading Bitcoin futures, or other altcoin futures for that matter. They allow you to buy contracts on future contracts with the price going up or down. The also offer leverage on each trade allowing you to x10 x100 your trade if you have enough BTC within your account to cover liquidation

Serious money is to be made on Bitmex and I am currently trying to learn Technical Analysis, although Bitmex is not for new starters. It is very easy to lose everything with how quick the price swings, if you don't really know what your doing you could end up in negative equity.

As an exchange Bitmex has been around for a while now and has proved itself it be a huge success with seasoned traders. The integration of trading view allows serious charting on the selected currency you wish to trade. I advise you check it out but again refrain from going on all if you are not sure what you are doing

Check out Bitmex Here

Next few days as we are trying to learn Technical Analysis I will load up some resources that we have been using

Saturday, 10 March 2018

Nanex Exchange, Dedicated Nano Pairs

Anyone who has been hanging around the blog for a little while now knows that I am a major supporter of Nano, the currency is a huge change to the crypto world and I think we will really see it wake up this year. Today I am going to point you into the direction of Nanex exchange which is the only exchange to deal exclusively in Nano pairs.  The currently trade BTC/NANO, ETH/NANO, BTCP/NANO, LTC/NANO and GRLC/NANO. All we need is USD/NANO and I think it will be perfect

The platform is very friendly to use and extremely fast, also it is starting to grow extremely fast. Today writing this they have managed to surpass the $1,000,000 trading volume required to get entry on coinmarketcap.com. Once they manage to get listed in the coinmarketcap markets again expect the exchange to grow even more

You can check out the exchange here at https://nanex.co/
Also checkout their twitter which is also pretty active https://twitter.com/nanex_co

Monday, 5 March 2018

How To Mine LUX Coin

LUX coin has only been around 4 months at the time of writing this but it is already proving a little gem to mine with GPU's. There isn't much information on it and because the algorithm is not featured on whattomine.com's list yet it still returns a nice profit. Its uses an algorithm that I didn't even know existed until I was recommended to mine the coin PHI1612. 

Also the wallet for LUX is pretty nice and allows you to stake so lets get started

First Download the wallet, install and start syncing it, you can download it from the official website here

Next we need some mining software, I've been mining with my Nvidia 1070 and from what I can see you can also mine with AMD but I am not 100% sure. Download the Nvidia miner here 

Possible AMD miner here

Also I have created a simple BAT file to start mining, copy it to the CCminer folder and and right click and edit it. Change the red circled area to your own LUX wallet address. Download the bat file here

The bat file is setup to mine at altminer.net unimining.net, after you have changed your username head over to the website and enter your address to see your stats. The address will look something like this unimining.net/?address=LTGt7iFM2z7fNGmRgU8DrnKtnZvi1hbtgi

If you choose the AMD miner I still advise using altminer pool but obviously our bat file will not work with SGMINER

If there is anything I have forgotten do post a comment and let me know