Archive for the ‘Crypto News’ Category

It seems that there is a new option available for miners that want to run more GPUs on a single mining rig. We got a tip that there is a new riser card available on AliExpress claiming to be capable of splitting a single x16 PCI-E slot to 8x USB 3.0 type of connectors for use with the respective x1 PCI-E extenders. In theory this should allow miners to get up to 8 GPUs running from a single x16 PCI-E slot, so practically any motherboard should become miner friendly solution. However there is an important thing that needs to be considered, this expansion board seems to require motherboards that do have the Above 4G Decoding (TLOUD) option available in the BIOS. The expansion card is available for a price of around $100-$120 USD from China, so no that cheap actually… it relies on a PLX PCI-E Switch, so no wonder it does not come very cheap.

We have not yet tested this solution, but it seems interesting and may offer an alternative solution for people to build mining rigs with more than the most common configuration of 6x GPUs. Now that we do have motherboards that are capable of 12 or even 13 GPUs out of the box however pricing is also going to be a very important factor and at the moment at this price from China this expansion board is actually not that attractive. Not to mention that there could still be some compatibility issues as it may not work on all motherboards as you might expect, especially on a bit older motherboards that do not come with Above 4G Decoding (TLOUD) option.

To check the PCI-E 16X to 8 Port USB 3.0 Expansion Card on AliExpress…

It seems that the last few days and probably until 1st of August a lot of people are consolidating their crypto coin holdings into Bitcoin (BTC) in order to take advantage of the Bitcoin Cash fork and the fact that they will get the same amount of BCC as they hold BTC. As a result we are seeing a drop in the prices of altcoins and a peak of the price of Bitcoin as people are selling altcoins for BTC apparently.

If you want to take advantage and be able to claim any BCC coins for any Bitcoins you currently own you need to be careful how and where you store your BTC. Obviously the best solution would be to run a local wallet and have full control over your wallet’s private key, but some people prefer to have their coins in crypto exchange so they are available for quick trades. If you want to keep your BTC on an exchange, but still want to be able to get Bitcoin Cash coins you will need to make sure that your coins are on an exchange that will support BCC and not all of the big and popular ones will do initially or at all. Furthermore if you are planning on dumping or trading any BCC coins then you might want to be extra careful as the first few days it is highly likely there will be huge volatility in the price of Bitcoin Cash.

Another important thing, Bitcoin Cash is initially using BCC as a coin ticker and that may be a bit confusing as BCC is already being used by BitConnect. As a result some exchanges may actually use a different coin ticker symbol instead of BCC in order to avoid confusion or maybe create even more. It is possible that Bitcoin Cash may be listed with BCH as a ticker on some crypto exchanges, so make sure you do not make mistakes and trade the wrong coin asset.

Crypto Exchanges and their BCC support:
Coinbase – no BCC support for now
Poloniex – no initial BCC support, may add it later
Kraken – will provide BCC coins and offer trading
Bitstamp – no initial BCC support
Bittrex – will credit BCC, may add trading
GDAX – no initial BCC support
Bitfinex – will be distributing BCC, no information on trading
Gemini – no initial BCC support
Shapeshift – no initial BCC support
Cryptopia – no initial BCC support

There of course are not all of the crypto exchanges out there, just some of the major international ones that we have covered. If you are suing the services of a smaller or a local crypto currency exchange, then it is best to inquire them about their position regarding the support of Bitcoin Cash and if they will be crediting BCC/BCH coins to their users and if they will be offering trading as well. For now Kraken seems like a good choice to store your BTC if you want to be able to get BCC/BCH coins and after that be able to trade them. Of course there is a number of other exchanges that announced they will be most likely be supporting Bitcoin Cash such as ViaBTC, OKEX, LiveCoin at launch as they were already mentioned in the announcement thread on Bitcointalk.

Yesterday the BTC-e crypto currency exchange went offline with some unexpected technical issues cited as the problem. The website is still not available online and there has been some unexpected, yet interesting development happening in the meantime. Reuters has reported that Greece arrests Russian suspected of running $4 billion bitcoin laundering ring and the person in question (Alexander Vinnik) is apparently associated with BTC-e in some way or another and the exchange has apparently been used for money laundering according to the information. Meanwhile WizSec has released an update regarding the MtGox hack tying the person in question with laundering the Bitcoins stolen from MtGox (not the actual “hacker” or hacker it seems). Apparently more details regarding the MtGox connection, the BTC-e case and money laundering are yet to follow…