Posts Tagged ‘LTC cloud mining’

Some More Thoughts About the MarketsCX LTC Cloud Mining Service

18, Mar 2014

markets-cx-exchange-rate

It has been about a week already since we have discovered the new Markets CX LTC cloud mining service and have started testing it. We have decided to give it a try as it was new and interesting, so we have invested 5 Litecoins to purchase about 120 KHS worth of cloud mining hashrate at a price of 0.0410 LTC per KHS. Initially we’ve had some concerns about the service that is claiming to be using Gridseed ASIC devices to provide so attractive prices for cloud mining hashrate as compared to other services that are still using GPUs. You can check our first impressions from the MarketsCX Litecoin cloud mining service and see some of the concerns and issues that some readers that have decided to try it out as well have reported.

The good news is that a week later and the service is still here and works and today we’ve got an official reply in the comments section of the article with our initial impressions seemingly from the Support of the service. This is the reason why we’ve decided to give some updates on our experience with the Markets CX service so far and below is a quote of the post regarding some of the issues reported in the comments above:

Guys, indeed there were some technical problems a few days ago. Some user accounts with dots and uppercase characters in their E-mail addresses were affected. We have successfully solved this problem. No LTC, KHS or mining profits were lost.

It is nice that they are keeping an eye on what other people are talking about their service and taking the time to respond to users with issues that are not posted on their website, though their onsite support seems a bit slow in responding apparently. Up until today we’ve had no issues with the service so far, and today was a bit of a delay when we have requested an LTC withdraw – we did not receive a confirmation email shortly after requesting the withdraw (previously we got it in less than a minute). So we’ve sent a support ticket about the problem and have requested multiple times a withdraw to test if we are going to receive an email. A bit more than an hour later we got a confirmation email and the withdraw was completed, so we’ve closed the ticket (we got no answer, but maybe the issues was addressed). So a few more hours later we’ve requested another withdraw to see if the problem with the delay still exists. Again we did not get a confirmation email within a few minutes, but requesting the withdraw again and we got the confirm email in a moment (again just one with two requests made).

Another thing that we did not like much about the service is the rapid decline in price per KHS, we have purchased hashrate just a week ago at 0.0410 LTC per KHS and back then this was very reasonable price and now the price is 0.02442 LTC per KHS. We are not sure if this is because of users that are dumping their hashrate or by the service pushing new hashrate at a lower price, but we are not very happy that in just a week time our hashrate lost almost half of its value (a common problem with cloud hashrate services with trading exchanges). Currently there are more than 34 MHS worth of hashrate available on the exchange, so at the moment you can buy some cheap LTC mining hashrate. We do recommend caution though as this is still a new service and we still do have some concerns, so not a good idea to invest a lot of Litecoins in it for the moment. If you are interested in checking it out you can get with a few LTCs like we did, as it is probably not a good idea to invest in thousands of KHS for the moment!

– For more information about the Markets CX Litecoin cloud mining service and to try it out…

More Issues With the Ghash Litecoin Mining Pool and the “Double” Reward Bonus

17, Mar 2014

ghash-io-ltc-mining-pool-status-update

We have already stopped using the Ghash.io Litecoin Mining Pool after the initial problems and changes of rules to the one week double mining awards for LTC promotion that CEX.io was running. We did recommend to our readers to do the same as we were really disappointed by how things were handled and the problems that were appearing. It seems however that what we have experienced as issues in the first day wasn’t the only problem, we got reports from readers that apparently still remained mining at the pool after that for more issues. Below is a quote from one such reader:

I would like to inform you of cex.io’s poor behavior. Notwithstanding your warnings about the LTC Promo, I was using their LTC pool for the last 2 days.

Here is the current state of things:

* They allowed a multipool to participate in the 2x promo(easily pushing the hash rate over the 2x limit of 25Gh/s)

* Agreed to pay for server error that kept our machines hashing without getting paid for 10 blocks. Then said “the support member was wrong ” when he said we “would get paid, so keep your machines running on the pool”.

* Randomly hashing blocks(3) without receiving payment(blocks not orphaned)

* Currently(as of this writing) having LTC withdraw issues. Users are reporting a “insufficient funds” error, despite having 5+ LTC.

All of these issues are experienced by many users. This is a very bad start to a site that looks so promising. In any event, I simply wanted to pass on this information in an attempt to prevent others from possibly getting Goxed.

There are a little over 3 days that remain until the end of the Doubled rewards for LiteCoin mining at the Ghash.io mining pool and we are again going to recommend you to stay away from the pool. Currently the multiplier is x1.25 and will hardly go back to x2 as the hashrate of the pool needs to drop in half. And if you experience a few more issues in the remaining time you could easily end up with the same or even lower than x1 the expected earnings from directly mining LTC in another pool.

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.


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