Posts Tagged ‘Ghash.io scrypt’

Doubled Rewards for Litecoin Mining, LTC Cloud Mining Coming Soon, Bitcoin Cloud Mining Preorders as new Features on CEX

14, Mar 2014

litecoin-double-cex

It seems to be official now after digging a bit around the CexIO website we found some information that “LTC Cloud mining is coming soon” and adding the Litecoin mining pool at Ghash.io is apparently only the first step. The currently running promotion for doubled rewards for Litecoin mining for a week in the new LTC pool is apparently a good trick to attract a lot of user attention and after this week ends the service will most likely start offering LTC cloud mining and trading to go along with the already available BTC cloud mining and trading functionality. And apparently things are already working pretty well with the current pool speed of the Litecoin mining pool at 5.76 GHS and growing as more and more people are joining in. The 100% extra profitability promised over the standard LTC mined is an offer that is not easy to pass at the moment with the not so high profitability of other alternative cryptos, so the news is spreading pretty fast.

The CexIO account Balance page already shows some new things such as the FHM and FHA balance that apparently stands for future mining contracts. 1 FHA and 1 FHM stands for futures contract for 1 GHS that will start mining for you on 26th of April and May respectively with both already traded on the website’s exchange. The purchase of future hashrate at a much lower price of 0.00399999 BTC per FHA or 0.00399999 BTC per FHM. The total FHA (April) is 1000000 GHS (1000 THS) and the total FHM (May) on the exchange is 900000 meaning that apparently there are 900000 GHS (900 THS) more that will be added at CexIO and you can pre-order now. It is very much like pre-ordering a BTC ASIC, but with an exact date for delivery and easier to calculate the break even in time. This however does not mean that these future cloud mining hashrate contracts will be profitable as there are many variables to take into account as well as with pre-orders for ASIC hardware.

More About the New Scrypt Mining Pools on Ghash.io

13, Mar 2014

ghashio-new-mining-pools

The Ghash.io mining pool that is a part of the CexIO Bitcoin cloud mining service has been silently adding new Scrypt-based pools, starting with a Litecoin (LTC) mining pool in the last few days. The initial addition of LTC pool was a sign of a possible upcoming LTC cloud mining, however after the addition of a DOGE, FTC and AUR pools to the service we no longer consider this to be the case. That and the fact that the account Balance section at CexIO did not get new currencies available hints to another thing.

It seems that the idea of the service is to attract new miners that are using GPUs for mining by adding Scrypt mining pools, miners that would apparently get paid directly in Bitcoins regardless of the Scrypt crypto they are mining. The Ghash.io pool even announced doubled rewards for LiteCoin mining in order to attract more miners, however when the countdown just reached 0 it started to increase, so we are not sure what and how is this going to work. The whole idea here is probably to attract more customers to purchase and trade GHS for cloud mining Bitcoin, but as long as you get an extra bonus why not take advantage of it while it lasts.

Update: it seems that they have fixed the countdown issues, now it says:
Doubled rewards for LiteCoin mining ends in [6 days, 22 hours, 5 minutes, and 53 seconds]

Also we’ve have received our first reward from found block and it was credited to the LTC account in Litecoin at CexIO, but we are not yet sure what is the situation with the other alternative Scrypt coins that already have pools setup and working. There has been an update for the the DOGE, FTC and AUR currency sign in the pools, but the account Balance page still does not have these new crypto currencies available. Note that the CEX and Ghash websites use the same account, so you only need one registration to be able to use them.

– For more information about the Ghash.io mining pool and to try the LTC mining functionality…


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