All About BTC, LTC, ETH mining as well as other alternative crypto currencies
A good sign that there is a lot of user interest in the new Lyra2RE that VertCoin (VTC) has recently forked to is that services for renting and leasing hashrate are starting to add support for it. Today NiceHash and WestHash have added support for the Lyra2RE algorithm and while it may not be the most profitable algorithm according the stats on profitability it is still very profitable (SHA256 is the most profitable at the moment for some reason, making it interesting to sell hashrate than to mine Bitcoins directly). So if you are mining VTC directly and then selling it for BTC, then you might want to make it easier by directly pointing your hashrate to NiceHash or WestHash. Interestingly enough now that VertCoin is no longer Scrypt-N the interest for hashrate at services that offer you to rent an lease has gone low as people are apparently moving to Lyra2RE. It will be interesting to see if the interest in Lyra2RE and VTC will continue to increase or it will just be a temporary thing. If the difficulty continues to rise and the exchange rate of VertCoin does not start rising the profitability of VTC will suffer and people will start moving to more profitable coins to mine. As a result of people mining and selling VTC for BTC we already saw a drop in the VertCoin exchange rate today when some people apparently dumped the coins mined immediately after the switch of the algorithms while the difficulty was low.
It was anticipated that VertCoin (VTC) will hardfork to the new Lyra2RE algorithm at around 16th this month at block 208301, however we have reached the fork a bit earlier. So if you are mining VertCoin you should switch to the new Lyra2RE GPU miners and to pools that have already switched to the new algorithm. Some people have anticipated that after the fork the price of VTC will increase, but this did not happen as currently VertCoin is quite profitable to mine and sell directly and apparently a lot of people are doing exactly this resulting in exchange rate dropping. This is just the first day after the fork, so we should wait and see how the Lyra2RE fork will affect VTC – will it help the coin or on the contrary.
If you are getting ready for the upcoming VertCoin (VTC) fork from Scrypt-N to Lyra2RE algorithm that is planned to happen in about 10 days, then you might want to update your wallet. Since this is a hardfork you will need to upgrade your wallet to the new release 0.9.0.0 and also to be able to continue mining VTC you will have to get the new miners with Lyra2RE support. The good news is that we already have miners for both AMD and Nvidia GPUs available, even though they are early release candidates you cna try them out locally on testnet before the actual fork happens and pools will switch to Lyra2RE mining for VertCoin around 16th this month at block 208301. Below you can find links for the source code of the miners along with official windows binary releases available on GitHub, tpruvot has also added support for Lyra2RE to his ccMiner fork and we are probably going to be seeing more forks with Lyra2RE support getting added soon.