Archive for the ‘General Info’ Category

ghash-io-ltc-mining-pool-status-update

We have already stopped using the Ghash.io Litecoin Mining Pool after the initial problems and changes of rules to the one week double mining awards for LTC promotion that CEX.io was running. We did recommend to our readers to do the same as we were really disappointed by how things were handled and the problems that were appearing. It seems however that what we have experienced as issues in the first day wasn’t the only problem, we got reports from readers that apparently still remained mining at the pool after that for more issues. Below is a quote from one such reader:

I would like to inform you of cex.io’s poor behavior. Notwithstanding your warnings about the LTC Promo, I was using their LTC pool for the last 2 days.

Here is the current state of things:

* They allowed a multipool to participate in the 2x promo(easily pushing the hash rate over the 2x limit of 25Gh/s)

* Agreed to pay for server error that kept our machines hashing without getting paid for 10 blocks. Then said “the support member was wrong ” when he said we “would get paid, so keep your machines running on the pool”.

* Randomly hashing blocks(3) without receiving payment(blocks not orphaned)

* Currently(as of this writing) having LTC withdraw issues. Users are reporting a “insufficient funds” error, despite having 5+ LTC.

All of these issues are experienced by many users. This is a very bad start to a site that looks so promising. In any event, I simply wanted to pass on this information in an attempt to prevent others from possibly getting Goxed.

There are a little over 3 days that remain until the end of the Doubled rewards for LiteCoin mining at the Ghash.io mining pool and we are again going to recommend you to stay away from the pool. Currently the multiplier is x1.25 and will hardly go back to x2 as the hashrate of the pool needs to drop in half. And if you experience a few more issues in the remaining time you could easily end up with the same or even lower than x1 the expected earnings from directly mining LTC in another pool.

cex-io-ltc-pool-issues

After the announcement of the dual mining awards for the new Ghash.io Litecoin mining pool and then “changing the rules” on the go two times already, now it seems the LTC mining pool at the CEX.io operated service is experiencing some temporary issues. A series of blocks (11 in total) in the LTC pool are getting no confirmations, probably marked as orphans, however this is about 3 hours of mining time literally wasted for the people that expect to be getting double awards for their hashrate. We have already gave our recommendation to move your miners from the LTC pool as soon as they started adding extra rules some time after the initial announcement for double mining awards. So if you still haven’t done so, we are again going to recommend that you do this now, because with a few more rule changes and issues in the pool there is a chance that you might end up with less than the normal LTC mining profit for a week instead of the promised 2x (or up to 2x in the best case). It seems that CEX.io were not fully ready to launch their LTC mining pool and they were not ready to handle the overwhelming user interest to their 2x mining award and they are not handling it well even after changing the rules for the 2x award.

coindesk-bitcoin-report-contents

This is something interesting that help people that are not to the whole Bitcoin and crypto currency thing to get up to speed with what is going on and what new trends are emerging – the State of Bitcoin 2014 report by CoinDesk. This is not a “what is Bitcoin” or “how to mine” type of guide, but instead is an overview of key crypto currency trends, challenges, and opportunities, while also highlighting the most important developments over the last year. If you are new to the whole world of Bitcoin and other crypto currencies this report in PDF format may give you a good short overview of the market and trends, and give you some pointers to what more you should read and ask more experienced people about. Note that we are also here to help with any questions or trouble that you may have when it comes to crypto currencies as we believe that information and knowledge should be shared and we are already doing it here by sharing our knowledge and experience in the world of crypto currencies.

To download the complete CoinDesk State of Bitcoin 2014 report in PDF format…


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