Mining

Best Mining Pools This Year!

Mining the more popular cryptocurrencies like Litecoin and Bitcoin is no longer an activity you can expect to profit from as a solo enterprise. The solution is to join a mining pool, a series of connected servers working in unison across an internet connection that pool their considerable resources to generate data blocks. Whatever reward they make between them is then split among all the pool’s participants. Here are some of the best mining pools to consider joining in 2018. Slush Pool Slush Pool is the longest established mining pool currently in existence, as well as one of the largest, accounting for 11.4% of all mining activity. Boasting a simple sign-up process and a comprehensive website offering a lot of advice to less experienced miners, Slush Pool is a popular place to star...

80% Of Total Bitcoin Supply Is Mined!

This week marked a significant milestone for cryptocurrency giant Bitcoin as it was announced that 80% of the Bitcoin supply (some 16.8 million individual bitcoins (BTC)) had been mined. This means that there are only 4.2 million bitcoins available to be mined before the entire supply of the digital currency has been exhausted. The 21 million Bitcoin cap was built into its original protocol by founder and developer Satoshi Nakamoto. It was mentioned in the company’s White Paper from 2008 and was included as a way of introducing an enforced scarcity into a digital commodity. It’s a fundamental rule of trading that scarcity generates demand, and demand makes a given commodity more valuable. When all the network’s Bitcoins have been mined, obtaining them will be even more difficult, a state o...

Mining Bitcoin could use more energy than Argentina

Global banking giant Morgan Stanley has predicted in a memo to its customers that the mining of Bitcoins could use up more electricity throughout 2018 than the country of Argentina. Bitcoin mining is the energy-intensive method by which the cryptocurrency both tests and validates transactions in which it has been used, as well as creating new coins. The process involves users confirming the veracity of payments made with the digital currency, forming a stable and reliable ledger of transactions which supports Bitcoin’s reputation as a safe and secure form of payment. In return for completing this verification service (such verified transactions being arranged in blocks – the cryptocurrency equivalent of a page in an accounting ledger), users are given the opportunity to receive a new batch...

Public Wi-Fi users could mine cryptocurrency for you

Finding a method for using other peoples’ computers to mine cryptocurrency is something that many cryptocurrency owners have fantasised about, but as Bitcoin has grabbed the headlines in recent months, some have taken things a step further. Two of the most common methods discovered to date involve infecting other machines or website with mining software or scripts designed for cryptojacking. Another method, discovered last month in Buenos Aires, consists of injecting mining code in pages served to users of public WI-Fi networks. This particular incident led a Barcelona-based software developer to investigate how such attacks could be automated. The latest method works by putting the hacker’s machine between the Wi-Fi router and the devices of people accessing free Wi-Fi, making it possible...

The clash of cultures…

It is said that for a German and a Finn, the truth is the truth, in Japan and Britain it is all right if it doesn’t rock the boat, in China there is no absolute truth, while in Italy it is negotiable. Culture clash occurs when a large number of people with similar values are confronted by another group with different values. This is exactly what is happening in crypto community at the moment as more and more people contribute to the growth of various coins, partake in ICOs and not to forget trade coins via exchanges. What was once seen as a gimmick and a far-fetched dream, the decentralised nature of digital currencies is finally making inroads into the mainstream. Despite the rapid “popularisation” of blockchain, which for the majority of mainstream population occurred largely over the co...

The End Of Bitcoin’s Cheap Energy Feast

China is cracking down on the power use by Bitcoin miners, meaning any cheap energy that was once available is now not there. The trouble comes when you consider that the entire electricity system is oversupplied, which has led the producers of wind and solar power to cease the generation of electricity. This has been a huge problem that has been plaguing the country for years. One third of wind generation and a quarter of solar energy in the North Western provinces of Xinjiang and Gansu was curtailed in the first half of 2017, and fossil fuel generated plants have remained out of use for years, causing utilisation rates to have barely broken in nearly four years. But, despite this, Bitcoin has been a massive hit for generators; however, this comes at a huge price. the electricity that is ...

Bitcoin Fees Have Hit A New High

Bitcoin transaction fees have risen from $2 per transaction to a huge $37 in just over two months. This is a huge rise, and it could all be down to a simple reason – the network is completely overloaded. The initial increase came in early December, at the same time that Steam announced that it would stop accepting Bitcoin payments for games. They used the payment system BitPay, which has some high profile customers, including Microsoft, NewEgg and APMEX. This system lets merchants accept Bitcoin as payment, in exchange for their goods, and whilst many are citing BitPay as the reason behind the fees soaring, in reality, they only represent a small portion of the total cost of a typical transaction. Others are pointing their fingers towards the Bitcoin miners. Mining Bitcoins is incredibly e...

Why You Should Stop Mining Bitcoin On Your iPhone

Despite it seeming like an excellent money making opportunity; all of the work actually gets you very little in return – approximately $156 every year; however, this does not take into consideration the amount of electricity you would use, which is a lot!  If you have invested in some Bitcoins or other cryptocurrencies, and have considered venturing into the realm of mining, it is important that you read the following before doing so.   It might seem like an easy task, with the help from the use of mining apps; however these should be avoided, as they are usually scams, or developer exercises that have been designed to be so difficult to install and manage, that you could actually end up just wasting your time. Let’s look at MobileMiner, for example. This app requires prepackaged sources, ...

Hacked Starbucks Hotspot Used To Mine Cryptocurrency

A Starbucks store in Buenos Aires is unlikely to be top on your list of locations for you to find illegitimate mining of cryptocurrencies, but this is exactly what has happened. Caffeine lover Noah Dinkin got more than he bargained for, when he discovered that his laptop had been infected by malware after he had sat down to log onto the coffee shops free WiFi hotspot. The WiFi hotspot had been hijacked and infected with malware that syphons off processor power, which can then work out the calculations needed to generate and mine the cryptocurrency, all without the users knowledge. The chosen currency in this case was Monero. When he had discovered what was going on, he swiftly alerted Starbucks and the company worked quickly with its internet service provider to remove the malware from the...

Couple Put Entire Life Savings Into Bitcoin Mine

Sponsored by A couple have gone for an unusual way of making money for their future, by investing more than $100,000 into Bitcoin mining, purchasing the machines, electricity and the space to create more of the digital currency. The entrepreneurial couple have tried unusual money making decisions in the past, with one half of the couple, Amanda Ryland saying; “Most endeavours have been profitable…They may sound crazy, but I trust him [husband Dan Ingram].” Her husband justified his latest decision by saying; “If I was looking for get rich quick, I would have just bought Bitcoin, and just sat there and crossed my fingers – and that would be really taking a chance…I was looking for something that was a little bit more stable.” Successful miners, which involves using machines with high-level ...

Tesla Owner Mining Bitcoin For Free!

A Tesla owner claims to have come up with an environmentally friendly solution to mining Bitcoins, something that is becoming increasingly difficult as the popularity of the cryptocurrency soars. This solution could be the perfect answer to all mining problems, as the current mining rigs use so much power – they are accountable for using 0.13% of the world’s total energy consumption. This equates to more than the whole of Ireland! So how have they done this, and is it really the perfect solution? According to a Facebook post on the Tesla Owners Worldwide page, the owner has installed a Bitcoin mining rig in the boot of his Tesla Model S, which supposedly uses the free energy, which has been supplied by Tesla’s Supercharger network, allowing them to mine the Bitcoins completely free of char...

Black Friday!, Fill Ya Boots Crypto Miners

We all know that mining is not cheap so we need to take advantage of the many great deals available on Black Friday weekend. We have searched the web and found the latest deals. There is a mixture of UK and US deals to look through. Feel free to comment anything else that has caught your eye. If you like Destiny 2 you are on for an added treat. This ZOTAC GTX 1070 Mini is the cheapest GTX 1070 available right now. Newegg as it on offer at $419. It has been seen below $400, but today this is the best price. This is the best UK price we have seen. Zotac NVIDIA GeForce GTX 1070 Mini 8GB Graphics Card £372.99 at ebuyer This is on at just $499 the GIGABYTE GeForce GTX 1080 DirectX 12 GV-N1080WF3OC-8GD Video Card and the lowest price we have seen on GTX 1080 and a free copy of Destiny 2 to tempt...

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