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Bitcoin Scrypt (BTCS) Scrypt based cryptocoin

18, Jan 2014

bitcoin-scrypt-btcs-crypto

Bitcoin Scrypt (BTCS) has been developed and designed using the Scrypt mining algorithm to help keep it decentralized and not become centralized with the use of specialized and expensive ASIC mining hardware. This version of Bitcoin can be mined using your GPU meaning everyone in the community at least has a fair chance to mine this coin.

Website
– http://bitcoinscrypt.co/

Block Explorer / Crawler
– http://blocks.btc2.pw/

SPECIFICATIONS

  • Scrypt Algorithm
  • Difficulty re-targets nTargetTimespan = 120 / nTargetSpacing = 120 / nInterval = nTargetTimespan / nTargetSpacing
  • 50 coins per block
  • 21 million total coins

DOWNLOADS
– Windows

Source Code
– at GitHub

PORTS

  • RPC Port: 30200
  • P2P Port: 30201

POOLS
– http://btc2.cryptominer.net/
– http://btc2.miningpool123.com/
– http://btcs.broken-arrow.pl/

EXCHANGES
– C-Cex

BBQcoin (BQC) Scrypt based cryptocoin

17, Jan 2014

bbqcoin-bqc-scrypt-crypto

BBQCoin (BQC) is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. BBQCoin provides faster transaction confirmations (2.5 minutes on average) and uses memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The BBQCoin network is scheduled to produce 88 million currency units.

Website
http://bbqcoinfoundation.org/

Block Explorer / Crawler
http://bbq.cryptocoinexplorer.com/

SPECIFICATIONS

  • Scrypt Algorithm
  • Each block generates 42 coins
  • Difficulty adjustment 60 blocks
  • block generated every 1 minute
  • Will never cease generating coins. About 2 Billion Coins in 300 Years.
  • Block reward halves every 24 million blocks or around every 45 years.

DOWNLOADS
Windows

Source Code
at GitHub

COIN GENERATION SCHEDULE

  • ~45 years total generated = ~1,008,000,000 BQC
  • ~91 years total generated = ~1,512,000,000 BQC
  • ~137 years total generated = ~1,764,000,000 BQC

PORTS

  • RPC Port: 19332

POOLS
http://www.bqcpool.com/
http://bbq.ltcoin.net/
https://www.bbqpool.net/

EXCHANGES
– Bter
– Cryptsy

Real world example with Primecoin (XPM) mining

16, Jan 2014

primecoin-xpm-earnings

We already talked a bit about the Primecoin (XPM) alternative cryptocurrency and have mentioned that it has good potential for growth, so it might be a good idea to mine some XPM now and keep them with the idea that the exchange rate will increase along with the interest in this crypto currency over time. At the moment Primecoins can only be mined with the CPU of a computer, so you can combine Primecoin mining on the CPU with Litecoin mining on the GPU on the same system and make some extra profit from that if you are already mining LTCs on one or more computers. You can of course mine XPM on pretty much any computer, but the more powerful the processor is the better and the same goes for the number of cores, the more – the better.

We’ve decided to give it a go with two systems using different processor for 24 hour time period in order to see what profit we are going to make. Both of the systems are mining Litecoin on the GPU, but that does not interfere as long as you set the cgminer processor affinity to just a single core if using Windows. We have decided to use one of the biggest Primecoin pools for the test – ypool, though the pool also offers other alternative cryptocurrency mining options.

The two CPUs we’ve used for mining are:
– Intel Core i5 2500K Quad Core 3.3 GHz
– AMD Phenom II X6 1100T Six Core 3.3 GHz

The pool we used for XPM mining is ypool:
– 3% fee
– 1000 confirmations per block

The total earnings for 24 hour period (confirmed + unconfirmed):
– 0.3565483 XPM

The value of the Primecoin mined for 24 hours is as follows:
– 0.04838065 LTC
– 0.00139265 BTC
– ~1.15 USD

A little over $1 USD per day does not seem that much of a profit for the moment, but that is only if you sell the Primecoins now, the wise idea however would be to mine now and save the coins for later, expecting to the exchange rate to go sky high. Anyway, it is up to you to to decide if you want to mine and sell now or mine and save the coins for later.


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