PinIdea X11 USB ASIC Miner DU-1 Coming Soon

17 May
2016

pinidea-x11-asic-miner

PinIdea is the second company to release X11 ASIC miners and apart from their large DR-1 miners that apparently had some issues with shipping they are ready to start shipping smaller X11 USB ASIC miners in a few days. PinIdea X11 USB ASIC Miner DU-1 is supposed to offer about 9 MHS X11 mining hashrate with about 7 Watts of power usage (1.4A at 5V), so you will need to use these with powered USB hubs capable of 2A per port to have some extra headroom. The price of the X11 USB miner DU-1 is set at 9 DASH or about $65 USD with the current exchange rate of DASH/USD (the price should include shipping cost) with shipping scheduled to start on May 24th.

The small X11 USB ASIC miners should help provide the decentralization that X11 crypto coins need after the first large ASIC miners hit the market with a lot of hashpower in the hands of a few users. Not to mention that many people will probably get these miners just for fun and not considering ROI time and such as even though they are not that much powerful, they are still something fun to play with if crypto mining is your hobby.

We have actually pre-ordered the large PinIdea DR-1 X11 ASIC miner a while ago as we wanted to review it as we did with the iBeLink X11 ASIC miner, but due to the issues the company had with shipping and miners arriving damaged we got a refund until they resolved the issue. Meanwhile PinIdea has already announced a new X11 ASIC miner called DR-2 that will be a redesigned and improved DR-1 offering 600 MHS of hashrate at 335W of power usage in a smaller and more silent enclosure. The catch is that the new miner will be available in August and that is quite some time from now and we are probably going to wait for this one to get it for a detailed review.

– To get some more details about the upcoming X11 ASIC miners from PinIdea…

The Gatecoin Crypto Exchange Has Been Hacked

15 May
2016

gatecoin-logo

The Hong Kong based crypto currency exchange Gatecoin has been hacked and had apparently lost a lot of Ethereum and some Bitcoins stollen by the hackers. The official announcement released by the exchange says that the breach of their system caused a los of 15% of their crypto-asset deposits. In total the breach resulted in the loss of 185000 ETH and 250 BTC, which is equivalent to $2 million USD according to Gatecoin. If you were using the exchange and had some funds in it you might be interested in the following announcement:

A bespoke platform designed to enable all Gatecoin clients to withdraw their remaining funds in BTC, DAO, DGD, REP, USD, EUR and HKD will be released on May 28, 2016. The exact date when withdrawals for clients’ ETH funds has yet to be confirmed.

All DGD, REP and DAO funds are secure and Gatecoin has funded the DAO contracts for DAO token holders. 5% of all BTC funds were compromised in the breach, but 95% remain stored in multi-sig cold wallets along with the remaining crypto-assets.

All fiat currency funds held in USD, EUR and HKD are secured in segregated client accounts and can be withdrawn by clients after May 28, 2016.

The Gatecoin team is currently working on raising additional funding to cover the losses of BTC and ETH and hopes to be able to reimburse all customers that have experienced losses as soon as possible.

– Visit the official Gatecoin exchange website for the full announcement regarding the situation…

The C-Cex Crypto Exchange Has Introduced Ethereum Markets

14 May
2016

c-cex-crypto-exchange

The crypto currency exchange C-Cex has introduced Ethereum (ETH) trading markets that include over 100 crypto currencies. Prior to launching the ETH markets there were BTC, USD, LTC and DOGE markets available and now you can trade many coins directly for Ether coins. The ETH markets are new, so there is not much trading activity yet or big volumes, but it is nice to see that Ethereum is getting more attention and we are starting to see it becoming available for direct trade against many other coins. It may not be long before we start seeing ore exchanges adding ETH markets along LTC or DOGE markets following in the footsteps of this exchange. We’ll have to see, but if Ethereum keeps its high exchange rate and the interest from users continues to grow it will continue to replace LTC as the most popular altcoin market trading pair.

– To check out the newly introduced ETH markets at the C-Cex crypto currency exchange…

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