Archive for the ‘General Info’ Category

It seems that the new AMD Radeon VEGA GPUs are starting to show some potential for mining, giving high performance at not so high power usage. VEGA 56 seems to be doing better as far as mining goes as it is already optimized for lower power consumption and not pushed too much in terms of operating voltage to reach higher GPU frequency, and it comes cheaper to buy and these are often two of the most important thing when talking about GPUs for mining anyway. People are already pushing the Radeon VEGA 56 over 1800 H/s for Monero (XMR) mining with a power usage of just about 160W per GPU.

This is possible using the XMR-STACK miner with 2 threads along with the AMD Beta Blockchain drivers and with HBCC on. Reducing the GPU frequency with 30% and the power limit with 20% and setting HBM memory at 950. Though apparently this requires a lot of memory per card at the moment and may be a bit unstable at times and not so user friendly as you still have to rely on Wattman for the GPU settings from within the driver. It is definitely showing a good potential for the VEGA GPUs.

For more information about the optimized Radeon VEGA 56 settings for Monero (XMR) mining…

The craze for ICOs (Initial Coin Offerings) seems to be going on and instead of things starting to calm down things are actually getting more and more intense, regardless of the news that some countries may be banning them or regulating them. Nowadays all we pretty much see in our sidebar with ads, provided mostly by Google, is pretty much all about ICOs and nothing more. We are also being contacted on a daily basis by a lot of people that are willing to advertise their upcoming or already running ICO or just do a coverage. We are not big fans of Initial Coin Offerings ourselves and writing about them or even directly advertising kind of means that we either approve or endorse them or at least this is what most people will think even if that is not our intention. We have been covering some ICOs in the past, just a few actually, as giving investment advice for ICOs especially has never been the idea or goal of this website. If we see a good idea and want to help promote the project and actually use the service or product that will or is being made directly as a result of an ICO we are going to share that information anyway. In such cases we are even investing something in that particular ICO ourselves, this is how much we believe in the idea. Even then however you should not threat that as an investment advice, you should still do your own research as we may not always be right on the spot…

With all of the above said our team does not track any or all ICOs that are currently appearing, starting or ending, they are quite a lot actually and if you do not specialize on that topic alone it will be hard to cover it all. We are not investors or traders and we do not give investment or trading advice, even if we do both of these as well from time to time. We are not against ICOs as a concept, in fact we have recently taken a part of such a project ourselves – Cryptum, a project that is developing a crypto mining board game among other things, though our interest was caught by that particular side of the project. It is not an ICO that promises great things such as decentralizing the board game business or putting board games on a blockchain, it has much more reasonable goals and a business plan that actually seems quite reasonable. Taking a part in that particular project has allowed us to get a pretty good insight on how things work inside an ICO and how many people try to make profit from such projects, not caring at all about the actual product or service (the ugly side of the business).

You are still welcome to contact us if you are running an ICO, planning to start one, or have even finished such a project. We would gladly check it out if we find it interesting and may even do a coverage here, but don’t just say you want to promote an ICO and you are contacting us for advertisement rates. If you are not able to explain what your project is about in just a few sentences in an understandable way, then don’t even bother writing to us. If you cannot do at least that, then maybe you should not be running an ICO at all… just repeating a couple of keywords such as decentralizing and putting whatever it is on the blockchain all the time probably would work for some people, but not for us. If you cannot explain your idea quickly and easily, then don’t even bother trying to!

When you are transferring a crypto currency from one address to another you need to pay a fee for the transfer to happen. With crypto coins like Bitcoin the fee is paid depending on the amount of the data that need to be included in a block for the transaction to happen, it is a single fee per Kilobyte of data that you have control over. Increasing the fee can result in faster inclusion in a block and faster processing of your transaction to get included in the Blockchain and the coins to move to the new address. Decreasing the fee from the recommended amount will usually result in slower confirmation time, but if the fee is too little your transfer may actually never happen. If the fee is too low and the transaction is taking too long to confirm you might try to Cancel Unconfirmed Bitcoin Transactions if you have used a local wallet like Bitcoin Core for example.

With Ethereum (ETH) the whole thing works a bit differently, though the general principle of paying a fee for transactions is pretty much the same. When you send Ethereum, transfer tokens, interact with smart contracts and so on you need to pay a fee in Gas, though the actual fee is paid in ETH anyway. With Ethereum you always pay a fee, even if your interaction with the blockchain is not successful or if it is successful. Here is an example, if you send some Ethereum coins to a smart contract and doing so with not enough Gas, the coins will not be sent, but you still will have to pay the fee and it will be deducted from your balance. With Bitcoin for comparison an unsuccessful transaction will not result in you still paying the transaction fees.

The total TX (transaction) fee you need to pay in Ethereum is calculated by multiplying the Gas Limit and the Gas Price you want to use for a transaction, you normally have control over the two values, but most of the cases you only change the Gas Limit. The Gas Limit is the maximum amount of Gas you are willing to pay for a transaction, you usually set it higher as you will only be paying the needed amount and not the maximum you have declared you are willing to spend. The second component, the Gas Price is normally preset at 21 Gwei to ensure a fast transaction, but at times this can be too much or too little. When there is a big ICO running or even a couple of smaller ones and there are a lot of transactions going on the Ethereum blockchain you might need to increase the Gas Price in order to avoid waiting up to a couple of hours for your transaction to finish. At the same time when the network is not so loaded you can significantly reduce the Gas Price to a level where you would still get very fast transaction, but at much lower total cost. Remember that the total fee for the transaction is being paid in ETH when you multiple the Gas Limit by the Gas Price, and you are being charged only the actually used Gas and not the whole limit you have set as a maximum you are willing to spend.

So it is really important to be able to easily track what is currently going on the Ethereum network and what is the Safe minimum Gas Price you can use in order to get your transaction executed relatively fast if you are not in a hurry and save on transaction cost or what to set as minimum if you want to have the transaction happen as fast as possible. For example the popular MyEtherWallet service has the Gas Price set by default to 21 Gwei and most people don’t change it as it ensures relatively quick transaction execution most of the time. If you check the current situation with the help of a service like ETH Gas Station for example at the time you want to make a transaction on the Ethereum network you can get a better idea on how much Gas Price to use and still get satisfying results.

What you need to remember is that the Gas Price is what decides how fast a transaction is going to be executed and not the Gas Limit, the limit is there to make sure you don’t overspend more than you are willing to pay. The final TX fee (Gas Limit * Gas Price) does not guarantee fast processing time with a very high Gas Limit, the important factor for faster processing is the Gas Price, provided that you have enough Gas Limit to execute the interaction on the Ethereum Blockchain. Note that there are times when you can easily go with just 1 Gwei Gas Price and still have a transaction executed in up to a few minutes, though at busy times you often have to use between 20-30 or even up to 50 Gwei Gas Price… higher than that it is usually unreasonable and it is recommended to wait a bit for the situation to calm down. So be careful and do not spend more for fees than you need to and if a quick check at a useful website can save you some ETH why don’t take advantage.

Go and check the ETH Gas Station website as it might be quite useful for some of you…


top