All About BTC, LTC, ETH mining as well as other alternative crypto currencies
One of the main issues for users that are into altcoins are coins switching to PoS (Proof of Stake) or supporting both PoW (Proof of Work) and PoS (Proof of Stake) is that they need to run multiple wallets all the time usually with very low interest rate to keep them motivated. Of course the idea of PoS is to keep the network operational and with multiple nodes by stimulating users with rewards to keep their wallets running all the time, but this rarely happens as planned. This is precisely why the user interest usually drops in coins once they go to PoS pretty quick, but there is an interesting solution that might help users not loose interest in PoS coins and avoid the inconvenience of running multiple coin wallets all the time. Staisybit is an online wallet for multiple crypto coins that allows users to keep their coins stored in it and have them staked, earning rewards based on the interest rate that each coin has with very low fees. This will save you the trouble of running multiple wallets that can be heavy on the computer they are installed and require a lot of resources, especially if they are more than just a few coins. The drawback will be a smaller number of users running the wallet and supporting the network of the specific coins as the service runs a single wallet per coin with multiple users, but then again it is also about the convenience of the users.
Staisybit has been available for a while apparently, but it is not very well known among users apparently and is not very popular, even though it provides interesting service and is easy to use and works well. Currently the service has support for 13 different coins with PoS, they are: Bitz (BITZ), Blackcoin (BLK), Diamond (DMD), Energycoin (ENRG), Europecoin (ERC), Fuelcoin (FUEL), Noblecoin (NOBL), OKCash (OK), Shadowcoin (SDC), Sterlingcoin (SLG), Vericoin (VRC), CoinMagi (XMG) and Quotient (XQN). Once you register (set a secure password with small and big caps and numbers) you need to Open Wallet for the supported coin you like and send in some coins in order for the staking to start. The service can use a bit of polishing and needs some more information and details such as info on all supported coins as some of them might not be familiar to many users etc, but is still quite good and might be useful to some users.
We have compiled a short table showing how much Bitcoin you could mine with 1 THS hashrate starting November 1st up until the estimate for February 1st this year. This period covers 3 months and as you can see the coins mined for just these 3 months pretty much halved due to the rapid increase in the network hashrate and thus the network difficulty. The table shows the numbers of coins you could expect to have mined without any cost for electricity for own hosted mining hardware or maintenance fees for cloud mining. The end result is pretty much the same however – the profit for miners has declined significantly, especially for the ones using older hardware with more electricity being used.
What some of you might not remember that well already is that prior to November last year the exchange rate of Bitcoin was in the $200-230 USD range and around November 1st it was already in the three hundreds, briefly peaking up to about $500 USD. For the last three months the price of BTC has essentially almost doubled, so considering that the difficulty has also doubled miners should still be getting roughly the same amount of USD when they convert the mined BTC, even though the coins mined are half of what they were before.
Later this year another important event for Bitcoin is going to take place, in about 6 months we are expecting to see the second halving of BTC block reward from from 25 to 12.5 coins. This essentially means that the coins mined will yet again drop in half with many expecting that the price of Bitcoin will compensate by increasing further from the level it is now. If this happens we might as well see 1 BTC traded for about $1000 USD as early as this summer…
Raspnode is a project created to help people get Bitcoin, Litecoin, and Ethereum nodes, wallets, and related cryptocurrency software on their Raspberry Pi 2 micro computers. Raspnode was launched last year as a Kickstarter project, but now the project’s website also contains detailed guides on how to run a full node for Bitcoin, Litecoin, and Ethereum. Since Bitcoin and Litecoin are already “old news” you might be more interested in how to setup a RPi 2 system with a full Ethereum node using the Go Ethereum client (geth) or Python Ethereum client (PyEthApp). The guides are comprehensive and detailed enough, so that they should be easy to understand and be followed by not so advanced users, so you might want to give them a go if you have an unused Raspberry Pi 2 lying around.