All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The cloud mining services CEX.IO has added a new trading pair in their exchange, so now you can sell your IXC for BTC directly without having to move them to another exchange. The iXcoin is merge mined with Bitcoin, so you actually get it as a bonus that adds something extra to your Bitcoin profit when mining BTC either with cloud hashrate that you have purchased or by mining at the Ghash.io mining pool with your own mining hardware. The exchange already had Namecoin (NMC) trading and so now the only thing left from the merge mined coins with Bitcoin that needs to be added is the DEVcoin trading. The service has already hinted us that they plan to add USD support to their exchange option that would also allow customers of the service to buy cloud mining hashrate with cash and not only with coins. And with more and more Scrypt ASIC miners starting to hit the market it might not be too long before they also start adding Litecoin cloud mining as an option along the already offered Bitcoin cloud mining option. There are still no dates announced when these features will be made available however.
The cloud mining service CexIO has introduced new interesting feature on their mining pool GHash.io, namely multipool mining with automatic switching to mine the most profitable crypto coin. The Multi Pool Pro as the service calls its new feature uses the integration with the other services and features such as Bitcoin cloud mining and trading and all goes under a single account. This new feature will be drawing some users for sure as the policy of 0% mining fee for the pool is something that is attractive for many miners. Since the service is still very new the hasrate at the Multipool is not that high, though it is already past 1.5 GHS and continues to grow.
The list of currently supported crypto currencies for the multipool feature include: LTC, MEC, DGB, AUR, WDC, FTC, SXC, DOGE, 42 and CAT. And since the CexIO account balance is being used not all of these coins are supported and you need to use the auto conversion features that allows you to get the mined coins automatically converted to either BTC or LTC. There is also an option to not autoconvert LTC, DOGE, FTC and AUR as you have wallets available for these cryptos inside the service already available.
After the end of the week long CexIO promotion with up to double rewards for their new Ghash LTC mining pool most of the users have left their pool, but still they’ve had about 7-8 GHS worth of mining hashrate remaining. Probably people that are mining there just because of the 0% pool fee, something that can easily be compensated if mining in pools with automatic alt coin switching based on profitability. Interestingly enough today the hashrate in the LTC mining pool has jumped to over 20 GHS with no apparent reason. The only way for this to happen is if some of the other larger pools is forwarding their mining hashrate via a proxy to the CEX mining pool, or if somebody is using a kind of man in the middle attach to do so and forward some pool’s hashrate to mine for his own account. So you might want to keep a closer look at your miners and profitability today in the pool you are currently mining at just to be sure. At the same time the total network hashrate for the Litecoin is showing some significant drop, so the next difficulty adjustment will most likely bring down the difficulty. This could however be a direct result of some new alt cryptos that are attracting a lot of users to switch to them due to significantly higher profitability than directly mining for LTC or with the potential for such.
Update: It seems that after passing 30 GHS total LTC pool hashrate the Ghash.io mining pool is starting to have issues again, though it is possible that they might be getting DDoS attacks as well as apparently other mining pools do at the moment. This is creating problems not only for the LTC mining pool, but for the BTC mining pool there as well. So it might be a wise idea to move to another pool if you are mining there at the moment in order to avoid possible downtime. Of course you should have multiple backup pools available in order to be able to handle such problems without any downtime, but many people still seem to set just a single mining pool in their miners. And while at the moment Ghash.io is having trouble and you might just see a CloudFlare warning instead of the actual pool website, the other “main” website of the service CexIO seems to be running just fine. It is not very clear what is happening with the people that have purchased cloud mining hashrate for the moment, but since the pool is down it is possible that the mining hardware for the cloud mining service might not be able to operate as well, though in such cases the users are usually getting compensated for the downtime of the cloud mining hashrate by the service after the issue is resolved. And it seems the downtime was very brief and the service is starting to get back to normal…