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58 Facts about Bitcoin

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Bitmain jumps into the X11 arena with their new miner: Antminer D3

Bitmain has begun making hardware for different algorithms aside from sha-256 (Bitcoin algorithm). They created one for scrypt and now, they've created an incredibly fast miner for the X11 algorithm.

Antminer D3 - SpecificationsHash rate: 15 GH/s (Variation of ±5% is expected)Power consumption: 1200W (at the wall, with Bitmain’s APW3 PSU, 93% efficiency, 25°C ambient temp).Dimensions of the miner: 320*130*190mmHashing algorithm: X11
Antminer D3 - Profitability Check these links for the latest profitability data: CryptoCompare CoinWarz
As a summary, it looks like ROI for this hardware is about 11 days. This is an incredible value for new hardware and i hope we see more ROI's like this!
Summary Very interesting new miner on the block with very, very high ROI. Definitely, something miners should consider if you're looking to upgrade your current gear, or even coming into mining for the first time!

Using your Bitcoin in everyday purchases and withdrawing it straight to cash

A lot of Bitcoin users love the currency, but if you need to use some of it in the real world, there are generally speaking a ton of hoops, as well as long wait times.

For instance, a normal workflow would be:Transfer Bitcoin to exchangeExchange Bitcoin to local currency (USD, CAD, etc)Wire the currency to a third party serviceTransfer to bank So there is a lot of room for improvement here.
Bitcoin Debit Card You've likely heard of these, especially if you've been in cryptocurrency for a while but they are actually pretty great to have.
I use WageCan and haven't had one bad experience so far. I want to outline the positives and negatives of these kinds of services (but specifically WageCan).
ProsUse your bitcoin for everyday purchases.Withdraw money from ATMs.Bitcoin you leave in your wallet earns 0.009% interest every day.Cheap debit card Cons Transaction feesDepending on the card you may need to wait a short period of time from loading to using
To summarize, as with any se…

Best Scrypt Miner To Date

As we all know, mining changes quickly no matter what currency you're looking at.

For a while, scrypt mining really dropped off my radar with lack-luster hardware, it just didn't seem like a viable choice. Recently, however, there has been some great hardware released with very reasonable power consumption.

Enter: Antminer L3+ This miner is an absolute beast with some of the greatest ROI in the current mining marketplace. Here are the specs: Power: 800Hash Rate: 504.0 MH/sMines: LitecoinPower cost per day: $ 2.30Return Per Day: $ 39.35Profit Ratio: 1708%Return Per Week: $ 275.48Return Per Month: $ 1,180.61Return Per Year: $ 14.36 KCost per MH/s: $ 3.26Payback period: 41 daysAnnual Return Percentage: 873%
Theses units sell for about 1600USD a piece and at the 800W power consumption, you may be able to run 2 comfortably off of one circuit. 
The one drawback is the purchasing/delivery. Each unit is generally a pre-order or if it's not, the price of each unit is inflated a lot …

Setting up a self maintaining miner (Windows GPU CPU miner)

Problem I run a 125MH/s ETH GPU mining rig but I was having issues where it would restart intermittently and when it would come back online it would obviously stop mining and i would lose mining time because of it.
Solution
Automatic restart Run your miner automatically on startup This is actually a very simple way to keep your miner in check so you don't encounter much or any down time. As an added bonus, it's very simple to set up.
Automatic restart Search for "task scheduler" in your windows search bar and open it.



Now select "Create Task..." from the right side panel. Give your task a name and check the "run with highest privileges" checkbox





Go to the "Triggers" tab and click the "New..." button. Here you should select "Daily" and select a date and time you would like this task to be run. Once you're done with your selection, click "OK"





Go to the "Actions" tab and click the "New...&quo…

Mining ZCash(ZEC) on windows

I spent some time trying out a few different pieces of software to try to figure out one that works best for me. I have 2 good options for mining ZCash, both for the coin and using NiceHash to auto convert it to BTC for you.

Option 1
Download the NiceHash MinerRun the miner (install steps)Put in your btc address and your worker nameRun the benchmark (depending on your number of devices this can take some time, however, it's worth it).Once the benchmark has completed, simply click "Start" This option will be mining with NiceHash, however, it auto converts coins into btc. This may not be what you're looking for, so see option 2.

Option 2Download the latest release of nheqminerExtractCreate a run.bat file Here's a couple examples for your run.bat file ExamplesAMD 1 GPU nheqminer_zcash.exe -l usa -u YOUR-ZCASH-ADDRESS-HERE -t 6 -od 0
NVIDIA 1 GPU nheqminer_zcash.exe -l usa -u YOUR-ZCASH-ADDRESS-HERE -t 6 -cd 0
These .bat files are for a pc running 1 gpu and an 8 threa…

Creating GPU mining rig (Ethereum)

I've decided to build a GPU mining rig, primarily focused on ETH at the moment.
Here's a run down of the hardware in my rig:
5 AMD RX 480 GPU'sGPU Shack Bundle1300W PSU


So, we're looking at about 750W power consumption and about 125MH/s speed for ETH. Since I'm Canadian, here is a breakdown of my costs and ROI (roughly).

Now that we have seen the hardware we're using and approximate ROI, let's build an open air rig to house our new hardware. We're not going to need a whole lot, of course you can build yours differently than I build mine.

Here's a really simple parts list for this build, sizes may vary:

1 Piece of Plexiglass (large enough for motherboard & PSU)7 feet of L-shaped Aluminum15 screws & nuts Once you have all your pieces just cut aluminum to size. You need to cut 4 pieces to create a base for your plexiglass that holds your motherboard and PSU. 4 legs that give about 10 inches of clearance between your plexiglass and your GPU rack.…

Bitcoin Halving

As a good chunk of the bitcoin community is very aware, the bitcoin mining reward will be getting halved very soon, and this could mean a few different things

When About 31 days from now (check http://www.bitcoinblockhalf.com/) the bitcoin mining reward will be halved from 25 to 12.5 bitcoin (this occurs 210,000) for each solved block, this means that the supply will lower significantly for bitcoin world wide.

What does it mean This means things to different people. For an opportunist, I think quite a few people will buy a few BTC now, and dump after the halving because a lot of people are speculating that the price will rise because of simple supply and demand.
For miners, they will probably be making approximately the same  (in USD or CAD) as they used to, however the actual amount they receive in bitcoin will be half of what they received previously.
If the price remains constant, and does not rise, that could mean the majority of miners shutting down however which could be very b…

COINCUBE - automatic trading platform

COINCUBE - automatic trading platformWhat is COINCUBE?COINCUBE is an automatic trading platform for bitcoin. It uses your chosen API (coinbase, bitfinex) for an exchange to use your bitcoin to grow your investment. They use an algorithm called WAVE to trade bitcoins into and out of whatever currency you choose (USD, EUROS, etc.). They charge either a flat rate or a performance based rate, performance based rates make more sense because then you only pay if you make money. Security How COINCUBE works allows you to have all your holdings in your own account. For instance, I use the Bitfinex exchange in my "CUBE". All the bitcoin I'm using with the platform sits in the exchange account of your choosing, meaning you have control to take your bitcoin whenever you'd like.

They also have 2 factor authentication on your account if you choose (which i always recommend), it's a solid step to a more secure platform and even if they get through that, the bitcoin doesn't e…

Mining in the Outdoors

Forget the heat, lets mine in the snow
So, I've been mining inside for about a year, normally with one or two pieces of hardware. I lived in a one room apartment then, so the heat and noise was a bit crazy. Luckily I live in a proper several room flat with a fairly large balcony, which will now be the new stage for my small mining farm.

What's involved So all that's really involved is as follows:

1 x large rubbermaid storage unit2 x 6 inch vents2 x 4 inch vents1 x 6 inch blower fane1 x 4 inch blower fan2 x 3 slot extension cords1 x router3 x ethernet cords1 x piece of cardboard for a divider3 x miner PSU3 x Antminer S5

Here's a little video of the rig that I have set up:



So now you should have an idea of exactly how it's set up. There's many ways to build an outdoor unit like this, but this was just my vision.

I just wanted to go through some of the reasoning behind how its set up, to help educate some of your decisions if you plan on making something like this…