Archive for the ‘General Info’ Category

Basic Steps to Split Your Coins Into XBT and BCH Wallet

1, Aug 2017

Kraken has posted a short and useful guide on the basic steps that you need to take in order to safely and securely split any local Bitcoin (BTC) wallet and get the same number of Bitcoin Cash (BCC/BCH) coins. We do recommend that you follow these steps just to ensure that any BTC that you have in your wallet will remain safe and secure and in your possession in case of some malicious code included in any of the wallets you may decide to use. Below is the short guide from Kraken quoted.

1. Wait until after the fork when a few BCH blocks have been mined.
2. Move all your Bitcoin (XBT) to a new wallet with a new private key. BCH has replay protection, so you will be able to move your XBT without moving your BCH.
3. Wait until your Bitcoin is confirmed in the new wallet. Be sure to complete steps 1-3 before moving to step 4.
4. Install a Bitcoin Cash (BCH) wallet and enter the private keys of the original wallet (the wallet you just moved your Bitcoin out of). To be maximally safe, the BCH wallet should be installed on a different machine than the one that has your new Bitcoin wallet on it. You can find a list of BCH wallets on the Bitcoin Cash website.
5. This step isn’t necessary, but as a final step you may want to move your BCH to a new BCH wallet with a new private key, just to help ensure you don’t mistake your BCH wallet address for the XBT address it used to be.

Kraken does not recommend a wallet, we aren’t going to do it either for the moment, but we have successfully used the Bitcoin ABC wallet on multiple systems, though the migration process was not entirely problem free. There are still some things that need polishing and bugs cleared now that Bitcoin Cash has forked successfully, so hopefully these will quickly be resolved. For the moment deposits to exchanges for BCC/BCH are still not active, so even if you hurry and set up everything and claim your Bitcoin Cash coins you would not be able to move them to an exchange anyway…

Official Information From Genesis Mining Regarding Delayed Payouts

26, Jul 2017

Users of the Genesis Mining cloud mining service have reported that the last few days they did not get their regular daily payments. Today the company has revealed details for the reason of the payment delays and their plan to get back things to normal as soon as possible. It seems that on July 21st there has been a hacker attack that has resulted in some disruption on the normal operation of the cloud mining services though the actual mining operations have not been affected.

Every single one of our customers will receive their missing payouts as soon as we’re sure about the safety and integrity of our payment system. One of the advantages of the daily payout system is that it helps prevent actual losses, even in moments like these that cause delays.

The next payout is being scheduled, and all missing mining profits will be paid out to our users during the coming days. Genesis Mining will cover the full amount, and you will receive all of your payouts. The mining profits will be released gradually with the usual daily payouts, so you will receive two payouts a day instead of the usual single payout per day, until all missing payments are complete.

The good news is that things will get back to normal very soon and all payments due to users will be processed and sent, so no actual loses for anyone using the cloud mining services of the company, just a bit of inconvenient delay in getting paid.

– To read the full official explanation about the situations with the delayed payments…

AMD Polaris ETH Mining Performance Drop Might Not Actually Happen

25, Jul 2017

If you remember last month we have warned that a possible Ethereum Hashrate Drop for Radeon RX400/RX500 GPUs is Incoming. The slow decrease of mining hashrate for Ethereum (ETH) on AMD Polaris-based GPUs was a bit puzzling as it was actually not related to the video memory, so 4GB and 8GB models were affected. Do note that at some point though cards with 4GB video memory might still start dropping in terms of mining performance anyway as the DAG size starts getting close to the amount of video memory available.

It turns out that AMD may actually be working on a driver fix to resolve the problem according to information published by Claymore on the Bitcointalk forum. Apparently the upcoming AMD Vega was also affected by the same problem, though it has been already resolved with driver fix and in two weeks or so a fix for Polaris may be release via a driver update as well. Hopefully a driver update that will not be WHQL and allow the use on AMD GPUs with modified video BIOSes as most AMD Polaris-based Ethereum GPU mining rigs are using modified memory straps for better performance.

On a side note, something regarding AMD’s new Vega GPUs for mining Ethereum from Claymore, in case you have missed it:

“Vega is … hot. In stock it takes about 400-450W in dual, 300-350W in ETH-only mode at about 33MH/s. And it’s throttling like hell. It’s very good in dual mining mode, but it’s too hot.”

So most likely the new AMD Vega GPUs will not turn out to be a great choice for mining, though who knows… people are using GTX 1080 Ti’s at 250W TDP or even more with some OC for mining and are happy with the results. Even though it might not be great for mining Ethereum, the new AMD Vega, just like with GTX 1080 Ti, might still end up a good solution for Equihash or any other popular altcoin algorithm for example.


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