Posts Tagged ‘Bitcoin interest

ProgPoW or Programmatic Proof-of-Work can be seen as the successor of the Ethash algorithm with enhanced ASIC resistance and while it has been available for a while there hasn’t been that much going around the new algorithm up until recently. The fact that Ethereum (ETH) is considering the switch from Ethash to ProgPoW in the near future has sparkled interest in the algorithm and we may soon start seeing more coins and miners talking about the use of that particular algo. Some of you might remember that Bitcoin Interest (BCI) was the first crypto coin to switch to the ProgPoW a couple of months ago. And while BCI hasn’t been doing that well actually, before or even after the fork to ProgPoW, it is still interesting to note that it was the first to use it and it also provided pre-compiled binaries of the initial miner for ProgPow.

Meanwhile there hasn’t been that much alternative miners up until recently that had support for ProgPow, probably due to the fact that further significant optimizations in terms of performance might not be possible for the available mining hardware. One of the more recent and not very popular yet miners available with ProgPoW support is TT-Miner, a closed source miner with 1% developer fee available only for Windows and working only on more recent Nvidia GPUs. TT-Miner (TradeTec Miner) also supports Ethash, UBQhash and MTP aside from ProgPoW and in our limited experience it has performed pretty good on a variety of Nvidia GPUs.

Another really fresh ProgPow miner that was just made available and that apparently needs more work is Progminer. It is forked from Ethminer and the source is available along with compiled binaries for Windows and Linux, do note that there are separate pre-compiled binaries available for AMD and for Nvidia GPUs, so make sure you download the correct one. This is probably the best miner to go for at the moment for ProgPoW specs wise, unless you have some trouble making it work on your particular hardware as we have encountered some issues already… Feel free to report your issues (if you have) and what performance running any of these ProgPoW miners in the comments below.

A few days ago the Bitcoin Interest (BCI) fork of Bitcoin has successfully switched to the ProgPoW algorithm, becoming the first crypto coin to actually utilize this new algorithm. ProgPoW is a proof-of-work algorithm designed to close the efficiency gap available to specialized ASICs. It utilizes almost all parts of commodity hardware (GPUs), and comes pre-tuned for the most common GPU hardware utilized in the Ethereum network. The design goal of ProgPoW is to have the algorithm’s requirements match what is available on commodity GPUs, so if the algorithm were to be implemented on a custom ASIC hardware there should be little opportunity for efficiency gains compared to a commodity GPU. This all means that in theory the ProgPoW algorithm will not see ASIC mining hardware, due to no opportunity to get much faster speeds compared to what a GPU is capable of delivering. This essentially means that ProgPoW should in theory be a really ASIC-resistant proof of work algorithm…

If you are interested in more details you can check the official BCI website, and miners would most likely be interested in the mining software, pools and a Bitcoin Interest mining calculator in order to see what is the current mining profitability of your GPU rigs. Here you can also find a BCI Block Explorer to see how are things progressing with the Bitcoin Interest blockchain. You might also be interested in the Bitcoin Interest GitHub repository for the official wallets, miners and so on. BCI is currently being traded on a couple of exchanges including Bitfinex, Stocks.Exchange, HitBTC, Exrates and Trade Satoshi.

BCI ProgPoW Miners:
Nvdia ProgPoW miner for Windows
AMD ProgPoW miner for Windows
ProgPoW miners for Linux

BCI Mining Pools:
LuckyPool
AltPool
Suprnova
CoinBlockers
ProgPool
NibiruPool
BasementPool

bter-investment-plan

The Asian crypto currency exchange Bter has made available to its users an Investment Plan opportunity, in partnership with the JUA, giving users 10% yearly interest rate for Bitcoins held in their accounts. You need to enroll into the Investment plan to have the BTC in your account bring you interest rate and the good thing is that your coins do not get locked up, you can still trade with them or withdraw them at any time. The interest rate is being paid on a daily basis, depending on the balance you have available with the current early interest rate at 10.52%. Bter is able to offer this in partnership with JUA, a large scale mining farm operator, as apparently the funds are used as investment in JUA’s farms and the interest is provided by the mined coins. It is pretty much the same principle used by the HaoBTC online wallet service, but here you get paid a slightly higher interest rate on a daily basis and you can use the coins to trade in the exchange making some more extra profit.

To check out Bter’s Investment Plan with 10% yearly Interest Rate on your BTC balance…


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