Posts Tagged ‘scrypt mining’

Scryptcc Exchange Rate per KHS Starting to Go Up

22, Feb 2014

scryptcc-current-cloud-mining-hashrate

The second batch of 100 MHS that was released for sale at the Scryptcc cloud mining service by the service providers has been completely sold. This means that currently all of the trades of KHS going on at the exchange are between users that have purchased hashrate and as a result the exchange rate has started to go up. The initial price per KHS was 0.00144444 BTC and now the cheapest price you can purchase has gone up to 0.00144998 BTC per KHS and will probably continue to increase if the demand goes up. The Scryptcc hashrate provided by the service is total of 200 MHS of Scrypt mining power out of which we have purchased some extra KHS going from the 239 KHS that we’ve already had to 404 KHS as a part of our testing of the cloud mining service.

scryptcc-current-break-in-time-calculator

With the current exchange rate per KHS at Scryptcc going up means that if you purchase hashrate now the break even in time will be longer than if you have purchased a few days ago. The return of investment time of course also depends on the current profitability of the alternative crypto currency being mined by the service and the Income Calculator reports 174 days at the moment. Today we also got a message from the support that they are working on some of the problems we have reported, so hopefully in the next few days they will be finally able to resolve the issues that are more of an annoyance than something serious, but still need to be fixed. We’ll keep you updated on the progress of our testing as for now we are going to keep reinvesting what we earn from the 404 KHS that we currently have purchased. If the price per KHS continues to get higher we may also decide to sell some hashrate as so far we have only been purchasing KHS, as this is a good way to make some extra and quick profit, unless of course the service providers decide to add another batch of 100 MHS for sale.

– For more information and to try out the scryptcc cloud mining service yourself…

Rubycoin (RBY) Scrypt-based alternative cryptocoin

21, Feb 2014

rubycoin-logo

Rubycoin (RBY) is digital money used for secure and instant transfer of value anywhere in the world, with no borders or limits. There is no government, company, or bank in charge. Utilizing blockchain technology, Rubycoin are issued and managed without any central authority. Every user with a Rubycoin wallet plays an important role in processing transactions on the decentralized, peer-to-peer network. Interest is earned by each participant and users stay in full control of their money.

Website:
– https://www.rubycoin.org/

Block Explorer:
– https://chainz.cryptoid.info/rby/

Coin Specifications

  • Scrypt Algorithm PoW + PoS
  • Max Supply: 60 million coins
  • Block Reward: For the first 5 months, rewards step down from 500, 250, 125, 75, 50
  • Block Target: 150 seconds
  • Difficulty Retargetting: Every block
  • Premine: 2%
  • Proof of Stake (PoS) reward: 4 RBY
  • Block Time: 90 seconds
  • Minimum Stake Age: 500 blocks

Wallet:
– Online Staking Wallet
– Windows
– Linux
– Mac OS

Source Code:
– at GitHub

Mining Pools:
The coin is now PoS only, no mining pools available.

Coin Exchanges:
– Yobit
– Bittrex

Checking How Profitable is Scryptcc Cloud Mining Actually

20, Feb 2014

scryptcc-income-calculator

The scryptcc cloud mining service is pretty much the first more serious Scrypt cloud mining service appearing on the market and it has already drawn some attention to it. While the service is still in beta, some things are left unknown for the users and there are some bugs to fix and the people behind the service are not acting very fast on these unfortunately, things look promising and the mining process seems to run stable and be reliable enough for investing in some KHS to give it a try. But the big question here is how profitable actually is to rent KHS there? According to the scryptcc Income Calculator you can expect to break even in something between 90 and 180 days and the time varies often when you check the results from the calculator. The problem with the Income Calculator is that it uses static values assuming that everything remains as it is at the current moment – KHS price, crypto profitability etc. and that may not be true over a long period of time such as half a year for example. Still you can get some sort of a general idea on what to expect.

litecoin-difficulty-mining-calculation

We decided to do some calculations on our own however. According to the calculator our total investment for buying 234 KHS at the moment is going to be 0.33799896 BTC ($212.94 USD), so this is the amount fo coins we need to mine with the rented hashrate. The daily income we can expect from the 234 KHS is 0.00173981 BTC, and if we are going to be mining with 234 KHS directly litecoin we are going to earn 0.07341 LTC per day with the current Litecoin difficulty. If we convert the 0.07341 LTC to BTC at the moment we get 0.00184793 BTC, so if they are mining directly LTC they will be loosing money (they probably mine DOGE or similar more profitable than LTC alternative crypto). So by using the scryptcc cloud mining service you will be better of than having a mining rig at home mining directly LTC, because you will not have to buy the hardware, set it up, pay electricity bills and deal with the heat. It might not be as profitable as mining DOGE or another more profitable than LTC crypto, because they do subtract some percent from what you are earning as a maintenance fee, but you don’t have to do anything yourself either. So things are looking pretty good so far…


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