Posts Tagged ‘cex.io alternative’

Bit-Mining Cloud Mining Service Having Issues with SSL Certificate

16, Mar 2014

bit-mining-ssl-error

The Bit Mining service for Litecoin and Bitcoin cloud mining is kind of down yet again, not long since they had another serious issue. Last week the service was apparently been hacked, but it was brought back online and this week the people behind it were trying to fix things and get everything back to normal and about a week now and it still is not fully back to normal. And while they almost did it, now the website is not opening again, giving an error about their SSL certificate not being valid. And this has been going on for more than a day now, though we have notified the support as probably other users did so already and they are apparently looking into the problem. If you disable the certificate validity check in the browser you can apparently login on the website, however this does pose a risk for your security and you should enable the validity check for SSL certificates after that.

The Bit Mining service has been available for a while now, but apparently things are getting out of their control. We just recently started testing the service and more specifically the LTC cloud mining that has been added not so long ago, but our experience so far with the service is more than unsatisfactory. Lots of downtime, problems and things that need more polishing, and along all that the the price drop of the hashrate, making it really not worth to invest into more hashrate. In fact we do plan to sell our 100 KHS of LTC cloud mining hashrate and stop using it and we would recommend you do the same thing if you have hasrate there, and when everything is back to normal we may consider trying the service again. Investing in cloud mining hashrate there for the moment is also not recommended, not until the issues they are having are completely resolved. Issues like that are really killing the users trust in services offering cloud mining hashrate as an alternative to using hardware miners, we’ll keep you updated on how things progress.

Buy Bitoin ASIC Now, Buy Future Mining Contract or Start Cloud Mining Now

14, Mar 2014

bitmaintech-antminer-s1-asic-miner

The fresh information from CEX.io about the addition of an option to buy future mining contracts for Bitcoin has made us thing and calculate how profitable are they if we compare them to what other options are already available to start mining immediately. We are going to do a comparison between the FHA contracts (purchasing cloud mining hashrate for the end of April) that you can already purchase to the currently being shipped Bitmain AntMiner S1 BTC ASICs and to a BTC cloud mining service that is already available and running by offering 5 year Bitcoin mining contracts, namely the PB Mining Bitcoin cloud mining service. We are going to compare how much it will cost you to purchase 1 Terahash (1 THS or 1000 GHS) worth of Bitcoin mining hashrate at each of these services.

1 THS of ASIC mining hardware currently shipping:
– 5x 180 GHS Bitmain AntMiner S1 overclocked to 200 GHs each
– This will cost you about 5 BTC for the moment for the miners
– You will need power supplies for about 2100W for them
– You will need to pay for 2.1 KW of power an hour for electricity
– Miners will be at your door in a week and you will start mining

1 THS of PB Mining cloud hashrate currently being sold:
– The current cloud mining hasrate price is 0.0083 BTC per 1 GHS
– You will need to pay 8.3 BTC at the moment for 1000 GHS
– The cloud hashrate will start mining for you in a few hours
– No extra cost for electricity or need to support hardware
– This is a long term mining contract for 5 years that you purchase

1 THS of CEX future cloud hashrate for end of April (FHA):
– The current contract price for FHA is about 0.00799999 BTC per 1 GHS
– You will need to pay 7.999 BTC for a purchase of 1000 GHS contract
– The cloud hashrate will start mining in about month and a half for you
– No extra cost for electricity or need to support hardware
– You can sell or trade the cloud mining hashrate contract at anytime

So it seems that all of the above options do have their own advantages, but there are disadvantages as well. It is up to you to decide what seems the most reasonable for you at this moment if any of the options is a viable alternative for you. Based on our experience, the AntMiners are very good product and the company making them is really fast and ships from stock (if ordering directly from them), not to mention the always up to date prices going down with the difficulty increase. The PiggyBack Mining cloud mining service so far is working great based on our few weeks of experience using it, they also update prices after difficulty increase. The use of CEX.io for cloud mining is not so good of long term investment in mining hashrate due to the higher prices driver by the users trading on exchange, but if you use the platform for trade and treat the cloud mining as just an extra profit while trading it is not a bad option.

New Crypto Difficulty, Coin Profitability and Cloud Mining

13, Mar 2014

litecoin-hashrate-difficulty-latest-chart

You have probably noticed the recent jump in Litecoin difficulty up to 4,738 (up with more than 20%) and the most recent difficulty adjustment to 4,719 which is actually a slight decrease. This has allowed some alternative crypto currencies to again become attractive alternative with better profitability than directly mining for LTC, so this may help keep Litecoin from new serious jumps in terms of difficulty for a little longer. This is however not certain as Gridseed is apparently shipping already serious quantities of their Scrypt-capable ASIC devices and if they are all used for LTC mining the difficulty may skyrocket soon again.

On the Bitcoin front there was just another increase in difficulty, this time it was surprisingly small compared to previous difficulty increases. The new BTC network difficulty is 4,250,217,920 up with just about 11.39% from the previous one, while the previous few increases were all with about 20%. This is actually good news for people that have ASIC devices that still need to earn the investment in purchasing them.

And a quick look on what is going on with the cloud mining prices after the new difficulty for LTC and BTC. It seems that with Gridseed ASIC devices hitting the market the LTC prices for KHS of cloud mining are starting to get lower and cloud mining Litecoin is getting even more atractive than investing in BTC cloud mining hashrate. Below you can find the current prices for BTC and LTC cloud mining hashrate at some of the bigger services offering them.

Bitcoin cloud mining hasrate prices:
– PB Mining – 0.0083 BTC per 1 GHS
– Bit Minng – 0.012 BTC per 1 GHS
– CexIO – 0.0157 BTC per 1 GHS

Litecoin cloud mining hasrate prices:
– MarketsCX – 0.0295 LTC per 1 KHS
– Bit Minng – 0.055 LTC per 1 KHS
– ScryptCC – 0.0576 LTC per 1 KHS


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