Chinese Bank Rumors Cause Panic Sale and BTC Price is Going Down

27 Mar
2014

bitcoin-exchange-rate-going-down-again

Today the Bitcoin exchange rate started going down again and the reason seems to be some new rumors that the Chinese national bank is going to prohibit the trading of Bitcoins and other cryptos by not allowing banks to service the payments for crypto currency exchanges by ordering all Chinese banks and payment processors to close accounts of Chinese Bitcoin exchanges by 15th or April. It seems that this is still just a rumor as there is no official information, though some news services in China are apparently reporting the news and the result is as expected – panic sale. Some of the big Chinese crypto exchanges have reported that they are not aware of any official announcement and it is all just a rumor, but the information in question could just be sent to banks directly, though at the end of last year the central bank has issued official warning about trading of Bitcoins and this has caused panic and significant drop in the price of BTC that had previously hit a record high price. It seems that soon enough we’ll see if this time it was all just a hoax if the price starts to recover back to the normal level or we’ll get to see an official announcement…

About the Cloud Hashing Bitcoin Cloud Mining Service Profitability

27 Mar
2014

cloudhashing-cloud-mining-plans

Aside from CexIO there is another old enough service offering with long enough history in order to be able to consider it as a trusted in terms of Cloud Mining services for Bitcoin mining. That service is called Cloud Hashing and we’ve been keeping an eye on it for a while already, though we were a bit reserved about investing some coins in it due to the quite high process they have. You can rent 85 GHS for $999 USD, 370 GHS for $3999 USD or 1 THS for $8999 USD, the lower the cloud mining hashrate the less attractive it is in terms of break even time. The prices cited here are quite high and they are for 1 year contract, so we took the numbers in a Bitcoin mining calculator that is supposed to give us an idea on when you can expect to break even and the results weren’t promising at all. Do note that the calculator uses some fixed values that we gave it like 15% increase in difficulty each time and a fixed price for Bitcoin at about $560 USD. In a year the price of Bitcoin could be double than what we have at the moment, the difficulty increase may be lower or higher, so there are quite a few unknown variables to take into account.

cloudhashing-85-ghs-roi-calculator

Running the numbers for the cheapest 85 GHS cloud mining hashrate plan we got a really disappointing results, as you can see in the graph above if the conditions do not change in favor of serious price increase for the Bitcoin there is absolutely no chance to get even in just 1 year (the period of the mining contract) and even if the contract duration was 2 years you will still be in the red. Going for the 370 GHS plan also returns pretty much the same unfavorable results, and even the 1 THS plan at the current price is way too high. In order for these BTC cloud mining hashrate plans to be profitable for sure with the current conditions they need to be half the price to what they currently are. Otherwise you are most likely going to loose money instead of earn investing in the cloud mining hashrate at the current prices that Cloud Hashing has… that is if the price of the BTC stays at the same level for another year. If the price gets twice than what it is for the moment you can actually make some money, however the risk is higher and no guarantees that this will happen. Our friends at the 5 beste bitcoin casino sites Nederland 2023 advise all investors to be careful if you are considering investing in cloud mining hashrate in that service. We are probably still going to get a plan just so that we can properly test the service when we have some spare resources to invest there.

– For more information about the Cloud Hashing Bitcoin cloud mining service…

Updated ccMiner 0.5 with Performance Improvements for Heavycoin (HVC)

27 Mar
2014

ccminer-new-version-performance-improvement-hvc

After some updates for Groestlcoin and Fuguecoin in the previous releases, the new ccMiner 0.5 comes with a significant performance improvement for Heavycoin (HVC) mining on Nvidia-based GPUs. The new version of the mining software brings up to twice the performance improvement on older cards and it can go even up to triple on GTX 750 Ti Maxwell cards, so it is good to update if you are still using the older version of the miner. The new release of ccMiner does add the option -d for selecting a particular device that you should know from using CudaMiner. You can download the official binary release for windows below and you can also compile from the source as well. The new version comes with precompiled binaries for Compute 2.0, 3.0 and 3.5 cards, so on older cards you will most likely have to run the 2.0 compiled binary and for the 700 series the Compute 3.5 should be the best option. Our tests have shown that we got more than twice the performance on a GTX 780 Ti graphics card where with the latest version we are getting around 23 MHS mining HVC as you can see on the screenshot above. With that level of performance the AMD GPU miner for Heavycoin is left way back with much slower performance you can get from a high-end GPU, even though that software miner also gets performance optimizations.

– Download the latest CCminer with pptimized HVC performance compiled for Windows…

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