More Testing of the Scryptcc Scrypt Cloud Mining Service

16 Feb
2014

scryptcc-income-calculator-roi

After day and a half of use of the recently launched scryptcc cloud mining service we can continue sharing our experience from the service. The Income Calculator is showing shorter time for break in now, meaning that the profitability of the coins mined has increased and now we are getting more like 100-120 day than up to 180 days for return of investment (without reinvesting the earned coins) though this value still varies a lot constantly. We’ve started getting 68 KHS at first just to test the deposit of BTC, then have increased the purchased hashrate to 232 KHS and since then we’ve been reinvesting all of the mined coins back into KHS and we are already at 234 KHS, so two more purchased with the mined coins… not bad at all for now. We are reinvesting only the mined coins, because we are still going to be testing the service for a while more before depositing more coins in it to purchase more KHS.

scryptcc-buy-sell-orders-list

Currently the exchange at scryptcc has little over 73150 KHS (73 MHS) of hashrate for purchase at a price of 0.00144444 BTC per KHS. This is the hashrate being sold by the service from the available mining power (a second batch of 100000 KHS) that is on the market at the standard price. As soon as it gets sold the trades will go between users who have purchased some of this hashrate, so we can expect that there will be an increase in the price per KHS. With that said it is also going to be a good idea to purchase KHS now and then sell them at profit if you are not interested in mining on the long run. And while you wait for the price to get higher, something that can take a few days, you can still make some extra mining profit, so it seems as a win-win situation.

We have also already contacted the scryptcc support with a few minor issues that we’ve had. We’ve already explained that the service is still very new and in Beta and although things are running quite smoothly, there are still some small things to polish left, but again nothing serious. The support is already looking into these and hopefully they will fix them soon, so should you decide to try the service do report some problems you find and send in your suggestions to the Support – this will help everyone else using the service, not only you. We are going to share more of our experience using the service in the following days, but we would recommend you to try it out yourself as well by getting a few KHS as a test if you are interested in it now.

– Our initial thoughts and experience from using the scrypt cloud mining service…
– More from our experience in using the scryptcc scrypt cloud mining service…

More About the BTC Robot Automated Bitcoin Trading Robot

16 Feb
2014

btc-robot-automated-bitcoin-trading-robot-report

Three days have passed already since we have started testing out the BTC Robot automated Bitcoin trading robot, so it is time to report how things are progressing so far. Nothing much has happened since we’ve started using the software for automated trading, though we suspect that the reason for that is the current BTC market situation and the way that the trading bot operates. The fact that MtGox and Bitstamp – two of the largest BTC exchanges are currently not allowing Bitcoin withdraws due to possible vulnerability in the BTC transactions has created some chaos on the market and the exchange rate is going mostly down as a result. Even though the BTC Robot actually trades on the BTC-e exchange that has not suspended any of its operations regarding BTC withdraws or deposits and the BTC/USD exchange rate is fluctuating the robot is not executing trades on it. Even considering the fact that we’ve set the Aggressive trading option that should be more active on executing trades with a bit higher risk, but also with supposedly higher profit on success there are no trades because of the weird situation on the market. Hopefully things will get better soon and the trade bot will be able to trade properly soon, or the authors will implement a different trading strategy that will be effective even at the current market situation.

btc-robot-trading-strategy-explained

What you cannot normally learn before you purchase the BTC Robot automated Bitcoin trading robot is the trading strategy it relies on. Normally these automated trading solutions rely on some sort of market indicators such as EMA to “know” when to buy and sell to generate you profit. This solution however relies on a slightly different market indicator, it compares the current price at MtGox and compares it to the exchange rate at BTC-e to decide if it should buy or sell. The software uses three different indicators to make its decisions and they have different values for each of the preset modes you can choose from – Conservative, Medium and Aggressive mode or use your own custom settings. Below you can find the default trading settings for the three modes and in the Custom mode you can change them as you wish in order to get better results – less risk and profitability or higher risk and profitability.

Conservative:
Rmin = 0.09
Rmax = 0.12
R step = 0.01

Medium:
Rmin = -0.01
Rmax = 0.11
R step = 0.012

Aggressive:
Rmin = -0.01
Rmax = 0.11
R step = 0.02

One more important thing to note, especially if you are getting the Silver Plane where you get the BTC Robot as a downloadable software to install on your own computer as we did, instead of a version of the bot preinstalled in the cloud. You can only install the trading software on one computer as it does not checks, so do not install it on a laptop at work for example just to test it first – go directly to a dedicated computer that can be online 24/7 at your home. We have contacted the support to see if we can move the software to another computer as now we have to keep online a laptop that we installed it for a quick test running and on all the time, so this is just a bit of inconvenience, though the support helped us resolve the issue and the software has been moved on another system. Going for a cloud-based service with the other two plans will probably be much easier and problem free solution, so you better consider these.

– Check out our initial thoughts about the BTC Robot automated Bitcoin trading robot here

On the Hunt for the Most Profitable Crypto Coins

16 Feb
2014

coinwarz-crypto-profitability

CoinWarz is another service where you can keep track of the profitability of the various alternative crypto coins in order to hunt for the most profitable one at the moment to get the best out of your hashrate, especially if you do not have a lot of it available. This service provides a mining and profit calculator that works with the supported cryptos, so you get actual profitability data based on your hashrate and power consumption for each crypto coin. It also checks and reports the best exchange rate at which exchange as this is also an important part for calculating the crypto profitability correctly. The list of alternative cryptos includes both scrypt-based ones as well as sha-256, so this service is useful not only for GPU miners, but also for ASIC miners that are interested in making some more extra profit by mining alternative cryptos instead of LTC or BTC directly.

Have in mind though that the profitability of alternative crypto currencies is very dynamic and if you start mining a crypto with very high profitability due to low network hasrate and difficulty, the situation can quickly change is a lot of other miners also follow in your footsteps. So it is important to be fast in finding the right pool and starting to mine the highest profitability crypto in order to maximize your profit – you can check our alternative crypto “cheat sheet” information that we have available here to help you in that. For example at the moment the most profitable alternative scrypt crypto is 42 (42), followed by DigiByte (DGB) and Globalcoin (GLB). The situation with SHA-256 alternative cryptos shows that eMArk (DEM) is the most profitable, followed by Betacoin (BET) and OpenSourcecoin (OSC).

– For more information and to check out the CoinWarz alt crypto profitability list…

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