Our Conclusion About the Scryptcc Scrypt Cloud Mining Service

2 Mar
2014

scryptcc-scrypt-cloud-mining-service

After using the scryptcc cloud mining service for a over two weeks already we are ready to draw our final conclusions about it. Initially the service seemed very promising with a few things that needed to be fixed and some extra polishing of the already available features, so we had high hopes and have invested into it until going up to 400 KHS worth of Scrypt mining power. We were buying from the second batch of 100 MHS (total of 200 MHS or 200000 KHS) were sold by the service provided to users and we have also reinvested our earnings into more kilohashes. And as expected when the second 100 MHS batch was sold out the price per KHS started to increase as you had to buy from other users that are selling their already purchased hasrate. As predicted this meant that if you went early and bought from the “cheaper” KHS you could also profit by selling them later at a higher price, along with the earnings you will get by them mining for you.

Everything seemed to work fine and we’ve received our mined earnings every 10 minutes into the account balance, though we’ve noticed some bugs and have reported them to the support. We got response from the support that they will look into them and even suggested some workarounds. That was during our first days of use of the service, so we were not aware that the support will be so bad in terms of not fixing anything ad even not responding anymore to our numerous reports about the fact that the problem still exists two weeks after our initial report about it. We suspect that other users have also reported these problems and they are still not being addressed and we got only promises and excuses that the service is still in Beta and the reason for issues is that. Now, more than two weeks have passed since we started testing the cloud mining service and the issues still persist, so we were fed up and decided to sell our KHS and stop using the service. When money or crypto coins are invested into some service or product you expect to get something worth these money in return, and apparently we are not getting proper support, so we better stay away…

Selling the 400 KHS hashrate that we’ve had purchased in the service along with the profit from mining for this time, we ended up making about 0.05 BTC profit which is not bad. However we wanted to invest into more Scrypt hashing power as well as to continue using the service for longer periods of time. With this level of support, or the lack of such, we have decided to get out of the service with small profit and not risk having a more serious issue that will have to wait for who know how long to be resolved and that could lead to loosing money or coins. Our final advice is to stay away from the scryptcc cloud mining service and if you have already purchased some KHS there you might want to sell them and reinvest the coins into another more reliable and better service. We have done that and are already trying another alternative services and may revise our conclusion in a few weeks of time if there is some improvement.

SolarCoin (SLR) Scrypt-based alternative cryptocoin

2 Mar
2014

solarcoin-logo

SolarCoin (SLR) is an alternative digital currency with a built-in mechanism to incentivize the generation of global solar electricity. By simply mining and/or exchanging SolarCoin just as you would any other digital currency, you are contributing to the development of clean renewable solar energy! Solar energy, unlike fossil fuels, does not place excess heat or carbon into the atmosphere. The creation of new renewable energy resources by SolarCoin results in a nearly carbon neutral mining footprint.

SolarCoin is a Scrypt based alternative digital currency decendant of LiteCoin. It uses the traditional hashcash proof of work method to reward a community of miners who support the SolarCoin network. But SolarCoin’s true innovation comes from its secondary proof of work reward: the Solar Proof of Work. Green solar energy producers are entitled to receive one SLR for every MWh electricity they generate. In order to claim a Solar Proof of Work reward, solar plant owners must submit 3rd party verified energy generation certificates such as a Solar Renewable Energy Certificate (SREC) or equivalent country specific documentation. All Solar Proof Of Work rewards will be stored as transactions in the blockchain.

Website:
– http://solarcoin.org/

Block Explorer:
– https://chainz.cryptoid.info/slr/

Coin Specifications

  • Scrypt Algorithm
  • 98.1 billion total SLR coins
  • 100 coins per block, halving every 525,600 blocks (once a year)
  • 1 Minute Block Targets
  • 1440 Block Difficulty Adjustments
  • 140 Character Transaction Messaging

Wallet:
– Online Staking Wallet
– Windows
– Linux
– Mac OS

Source Code:
– at GitHub

Ports:
– RPC Port: 18188
– P2P Port: 18181

Mining Pools:
– http://www.rosemining.com/
– http://solar.prominer.org/
– https://slr.luckyminers.com/

Coin Exchanges:
– Livecoin
– Bleutrade

Download cpuminer for Gridseed 5-chip GC3355 ASICs with Reduced Power Usage

2 Mar
2014

cpuminer-for-gridseed-5-chip-asic-fixed-power-usage

In our recently published first impressions from the Gridseed 5-chip Scrypt ASIC devices we have mentioned that with the provided cpuminer mining software the power consumption of these devices will remain high (up to 60W) even when only mining Scrypt cryptos. Normally the power consumption for scrypt mining with these devices should be about 6-8W, but it seems that the originally provided mining software had an issue. Gridseed have apparently provided an updated cpuminer, however only as a source that you needed to compile and there was no version available for Windows, so we have spent some time and efforts in order to compile the fixed version and provide you with a downloadable executable for Windows.

gridseed-5-chip-scrypt-asic-fixed-power-usage

As you can see after starting the new fixed version of cpuminer on our 5-chip Gridseed CG3355 ASIC device we now have 8W of power consumption instead of the 56W that we previously had with the older version of the cpuminer software. So if yo are using the older version, then you should update immediately to the new one as it will significantly reduce the power usage of the device to the promised level for Scrypt mining. Note that this reduction in power usage may also help you get slightly higher overclock, though such is not guaranteed. Note that we have compiled and provide you with a downloadable version of the fixed cpuminer for Windows only, use the link below to get it.

– You can download the fixed cpuminer for the 5-chip GC3355 ASICs for Windows OS here…

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