Archive for the ‘Crypto News’ Category

New Gridseed 19.2 MHS Scrypt and 520 GHS SHA-256 Dual Mode ASIC Might be Coming

16, Mar 2014

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We got a tip from a reader that a new dual mining mode ASIC device based on Gridseed chips might be coming out soon. The device is supposedly capable of providing up to 19.2 MHS Scrypt and 520GHS SHA-256 is listed for with a price of $12888 USD on a Chinese online store and is being sold by a company called EastShore Trade. This is a pre-order and they claim the miner will be available “at the end of March”. The photo above of the actual miner does look Ok, though the photo itself and the claimed specifications do rise some doubts, so you should treat this information with caution for the moment!

This miner is apparently composed of 4 blades (only one blade shown on the photo or all 4 blades together?), each blade can mine at a speed of 130 GH/s for SHA-256 mining and 4.8 MH/s for Scrypt mining. So, the miner can mining at a speed of 520 GH/s for SHA256 mining and 19.2 MH/s for Scrypt mining in total. The total power consumption claimed is just 800W for the four blades and the power supply is apparently a part of the miner according to the information. The miner on the photo does remind us a lot in terms of design to the AntMiner S1 and the device apparently also comes with a LAN port, so it would be independent of a computer.

19.2 MH/s worth of Scrypt mining hashrate is achievable by using a total of 64×5 Gridchip GC3355 processors or a total of 320 chips providing 300 KHS each. With the total power usage of a non-overclocked 5-chip ASIC of about 5W we should be getting about 320W for Scrypt only mining mode if the calculation is correct. The problem comes with the SHA-256 mining part, with a 5-chip solutions needing roughly about 50W in BTC mining mode this would result in 3200W power consumption for the SHA-256 mining only or a total of 3500W without overclock for Dual Mining mode. So how come we see claimed 800W for the device, this could neither be the Scrypt only power usage, neither a single blade one (4 blades shod total in 3200W). And integrating a 3200W or 3500W power supply in a miner so small does not seem very believable (again is the photo of a single blade or of the 4 blades?). So do not be in a hurry with pre-orders at least until there is more clear information about this upcoming ASIC!

CoinSummit San Francisco Virtual Currencies Conference

15, Mar 2014

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CoinSummit San Francisco is a two day event connecting virtual currency entrepreneurs, angel and VC investors, hedge fund professionals and others who are looking to learn and network in the virtual currency industry. CoinSummit will take place on March 25-26 2014 at the Yerba Buena Center for the Arts in San Francisco, USA. The event is limited to 500 attendees, so it is quality over quantity and you need to fill a form to request an invitation in order to be able to attend it. The cost of attending CoinSummit is US$900 for pre-series A entrepreneurs, and US$1,900 for all others including post series A entrepreneurs, venture capital, angel and hedge fund investors, corporates, and service providers. Tickets are non-refundable and non transferable. Attendance is free for speakers. CoinSummit will offer 10 start-ups the opportunity to present in front of the entire CoinSummit audience. Startups will be selected on the basis of the size and attractiveness of the opportunity they are pursuing, the strength of their team, and their traction/metrics/achievements.

– For more information, list of speakers and additional information about CoinSummit…

Dual Mining Rewards for LTC at CEX Not So Dual Anymore

14, Mar 2014

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It seems that CEX.io did not expect so overwhelming users interest in their dual mining rewards for Litecoin mining in their new pool. The pool has almost reached 40 GHS of Litecoing mining hashrate in less than 24 hours since the announcement of the promotion for the double payout per LTC block. And in order to prevent getting 51% of the Litecoin network, now the reward multiplier will be adjusted according to the pool speed. For a total hashrate of the pool below 40 GHS the 2x multiplier will remain active, between 40 and 60 GHS the multiplier will be just 1.25x and for over 60 GHS it will will go down back to x1. And since the Litecoin pool hahrate has already gone very close to 40 GHS it is possible that soon the profitability of mining LTC at the CEX.io Litecoin mining pool might not be as good as if mining in alternative pools with automatic switching for the most profitable altcoin. So keep an eye on the pool hashrate if you have moved your Scrypt miners to the Ghash.io pool already to mine Litecoin and if the hashrate of the pool continues to rise so rapidly be ready to move back to other pools…

Update: It seems that CEX.io now wants to drive away all of the users they brought back to their pool. The 2x bonus awards that was initially without a limit and then was available with the total pool speed of up to 40 GHS has now been reduced for a pool speed of 25 GHS. We no longer recommend to stay at their Litecoin mining pool, get your miners away from there as they are really not handling the situation well… move them now and withdraw your mined LTC earnings. We don’t want to have to check every few minutes if they have changed their mind yet again and as a result to have mined less LTC that we could’ve if we used another pool with no rules that change all the time and probably neither do most of you!


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