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30 hours mining with 10ghs on CEX.io

May 2018 update – Please note both the mining pool and trading platform for CEX.io were discontinued several years ago. Now it operates as a UK based cryptocurrency exchange. Originally published November 2014. December 2014 – Our full review of gHash.io, the pool behind is CEX is here I set up a new account with CEX.io and then lodged some bitcoin on it, and purchased ten gigahashes of bitcoin mining goodness. Personally, I mine with a small amount on with CEX.io, with some privately hosted crunching power pointing at my main account with BTCGuild. Nothing major, just about 15ghs overall between the

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May 2018 update – Please note both the mining pool and trading platform for CEX.io were discontinued several years ago. Now it operates as a UK based cryptocurrency exchange.

letstalkaboutcex

Originally published November 2014. December 2014 – Our full review of gHash.io, the pool behind is CEX is here

I set up a new account with CEX.io and then lodged some bitcoin on it, and purchased ten gigahashes of bitcoin mining goodness.

Personally, I mine with a small amount on with CEX.io, with some privately hosted crunching power pointing at my main account with BTCGuild. Nothing major, just about 15ghs overall between the two. I’ve used the last six months after burning out my laptop monitor and nearly cooking my GPU mining litecoins (that’s a story for another blog post) to learn how the maths and economics behind bitcoin mining work, and argued with my wife about whether bitcoin is skynet or not, and see the law of diminishing returns kick in in time with the difficulty increasing fortnightly.

So with my private mining, I paid a fixed amount back in March for an agreed timeframe mining away. Luckily, my supplier lets me pick and choose where I want to point my mining at, so I also have stats for a later post about mining on CEX.io with your own hardware. While the amount of shares I’ve submitted there have remained relatively static for the whole six months it’s been running so far on BTC Guild, the interval before hitting the automatic cashpoint have gotten longer. But over the summer I blew most of what I had accumulated on some great steam games using Steamloader, and the rest I stuck onto CEX.io to give it a go. I’ll leave a review of the screens and stuff for a later post, but your miner will hash on the ghash.io pool, and use a shared account between the two sites.

So the process for me, was I had bought some bitcoins and got them sent to my Bitcoin Armory wallet (great and free for those looking for a secure desktop wallet). I went to the Balance page, got my address to send it to, put it into bitcoin armory and sent it. Bitcoin armory flashed up a message saying sent, and the lodgement showed up on the screen in a few seconds. I then realised I’d put too little in, and had put in an extra decimal point so did a second lodgement quickly. After about forty minutes, it had confirmed and been usable in my account. Back to the ghs/btc page, selected how much I had and bought just over 10ghs. This has been running for the last 30 hours, and shows quite well how the maintenance fees work. Block rewards are quite regular with them, given they have about a quarter of the market share, and after six confirmations on ghash the balance gets credited.

Unlike BTCGuild though, where you can just watch your number tick up until it hits the payout point, with CEX.io you have a full service of an exchange. Verify your details with them and you can lodge dollars, but the company is based in London so there’s a good chance Euro will be coming soon. So as you get rewards, you can choose either to let them build up, or reinvest them for fractions of bitcoins. This lets you add a couple of ghs if you want over time.

On my personal account, I saw a big swing in my rewards, like I had with BTCGuild around the overall pool strength. At one point it was 54phs, then it dropped down to 44phs or so, and i saw my block reward payout rise a lot, while the maintenance fee stayed the same. So this meant that when pool speed was high, and had blocks of hours between blocks, the maintenance fee took most of the reward, or in some cases more, but this was offset when there were two or three blocks in the same period.

So my first few days are below, and just keep in mind that ghash.io splits things into ~11 minute shifts, so the first hour and a half figures would include the ramp up in rewards and are stable further down. Where you see a buy order and the total drops, that’s where I’ve reinvested to get a fraction more of processing power. You don’t have to! 🙂

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Source: https://bitcoinsinireland.com/30-hours-mining-with-10ghs-on-cex-io/

Blockchain

Ethereum Wallet Transfers $215 Million Worth of ETH

ETH Whale moved 71,191 coins to an unknown wallet on 22 September.

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The network activity of Ethereum has jumped substantially since the start of this week amid the price volatility of ETH. Whale Alert, a prominent blockchain tracking and crypto analytics platform, recently highlighted a transaction worth $215 million involving the transfer of 71,191 Ethereum from an unknown wallet.

The mentioned transfer was executed on 22 September at 16:06 UTC. In a separate transaction, a crypto whale account moved 21,587 Ethereum from digital exchange Binance to an unknown wallet. Since the London Hard Fork, Ethereum’s overall whale activity has increased sharply.

The exchange supply ratio of Ethereum saw a jump in the last few days but the overall trend remained negative. The latest data from Santiment shows that some ETH holders dumped the world’s second-largest digital currency during this week’s market volatility.

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“During the recent dip, there was an influx of ETH to exchanges, likely indicating that some people have sold off during this dip. Overall, ETH supply on exchanges remains on a downtrend which is a good thing as it alleviates sell pressure. ETH’s Daily Active Addresses remains rather active over the past 6 months, indicating the health of the network is still strong,” Santiment highlighted.

Ethereum 2.0 and ETH Whales

Ethereum’s network upgrade is probably the most important development for the world’s second most valuable digital asset. Since the launch of Beacon Chain in December 2020, the ETH network saw a jump in large transactions. Ethereum whale accounts accelerated the movement and accumulation of ETH since the London Hard Fork in August 2021. On 21 September, a leading ETH whale account moved 75,730 coins to an unknown wallet.

After a sharp decline of approximately 20% in the last seven days, Ethereum is now back above the price level of $3,100. The cryptocurrency gained nearly 8% in the last 24 hours. The overall market cap of ETH touched $370 billion today. The cryptocurrency now accounts for 18.5% of the overall crypto market cap.

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Source: https://www.financemagnates.com/cryptocurrency/news/ethereum-wallet-transfers-215-million-worth-of-eth/

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Xfinite Announced its Collaboration with Algorand Foundation

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[PRESS RELEASE – BVI, September 22, 2021]

Blockchain platform Xfinite has announced its collaboration with Algorand Foundation, to build trust with public and permissionless infrastructure for a borderless economy. Xfinite and Algorand Foundation both have the mission of building an inclusive ecosystem, improving the way people interact with blockchain solutions.

Algorand Foundation aims to enhance blockchain development by leveraging its protocol and open-source software to reduce the barriers to blockchain adoption. Algorand’s technology gives everyone the opportunity to benefit from a scalable, fast, and trustworthy ecosystem combining a strong collaborative community with technology companies, developers, and users of the platform. Its consensus mechanism is pure proof-of-stake (PPOS), bringing even more security, speed, and sustainability to online transactions. Algorand is a world leader in carbon-negative technology. It also allows users to make payments at lower fees in a fraction of time.

It comes along with Xfinite’s vision to encourage blockchain mass adoption and revolutionize digital media, through innovation using customer experience, data-driven engagement, and ecosystem economics to support community growth. With this major partnership, Xfinite is developing modern and unique use cases running on blockchain technology. Using the technology behind Algorand, Xfinite can support brands and creators, offering a new way to interact with their consumers, whilst the audience is rewarded for consuming high-quality content. The Xfinite Entertainment Token, XET, is designed to reward Xfinite’s users and creators through tokenizing engagement and creating a circular economy.  XET has been listed on MEXC on 15th, September 2021.

Algorand offers features such as Algorand Standard Assets (ASA), a standardized Layer-1 mechanism to represent any kind of asset on Algorand’s blockchain. That means fast, secure, and low-cost operations like never seen before, once they are built directly into Algorand’s Layer-1. Through this robust blockchain, Xfinite reduces common challenges in the market like bad processes, intermediaries, fees, and delays, creating an incredibly efficient platform for users and organizations.

About Xfinite

Xfinite is a blockchain-based platform designed to re-establish trust between consumers, content creators, and publishers. The Xfinite ecosystem helps the media and entertainment industry combat advertising fraud by increasing transparency and creating a new habit of engagement. Xfinite has established various partnerships with global corporations in order to drive innovation and create new use cases for blockchain technology. Recent partnerships include Dailyhunt, SpiceJet, and Eros Now.

About Algorand Foundation

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists. With core beliefs in the establishment of an open, public, and permissionless blockchain, the Algorand Foundation has a vision for an inclusive ecosystem that provides an opportunity for everyone to harness the potential of an equitable and truly borderless economy.

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Source: https://cryptopotato.com/xfinite-announced-its-collaboration-with-algorand-foundation/

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NFTs are Helping to Save the Environment

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In the last decade, there has been a growing awareness of the importance of sustainability, both locally and globally. The current growth in technology has made it possible to do more with less, which has led to the rapid expansion of the global population while at the same time causing unprecedented destruction of our natural resources.

We also have an unprecedented understanding of climate change and its effects on our world. As a result, many people are seeking ways to live more sustainably, both personally and professionally.

Protecting the Rainforest

The Amazon Rainforest is in trouble. In fact, it’s in very big trouble.

In the last few decades, nearly a fifth of the Amazon has been deforested and converted to agricultural land for purposes like soybean farming and cattle ranching. Deforestation is the leading cause of Brazil’s greenhouse gas emissions. Globally, tropical deforestation causes around 20% of annual greenhouse gas emissions.

The rainforest covers 5.5 million square kilometers (2.1 million square miles), or 40% of South America’s area. It stores an estimated 120 billion metric tons of carbon — equivalent to 10 times the carbon humans release into the atmosphere each year. Yet, humanity is still actively destroying one of the keys to life.

Amazon Watch is a leading environmental organization fighting the degradation of the Amazon. This is one of the initiatives supported by Next Earth, the project selling NFT tiles from a digital replica of Earth. With each NFT purchase, 10% is allocated to environmental organizations like Amazon Watch.

Cleaning the Oceans

Our oceans are in crisis. The rapid degradation of the environment is putting marine life in danger, and many experts believe that we may be reaching a point of no return.

As the world’s population grows ever larger and more industrialized, it has put an increasing strain on our natural resources. With over three-quarters of fish stocks fully exploited or over-exploited, and it’s expected that by 2050 there with more plastic than fish in the oceans by weight, there are serious concerns about what this means for the future of our ecosystem.

The solution to this problem is not as simple as banning plastics – although that would certainly help – it will take a major overhaul of how we live our lives to change consumer behavior. But perhaps technology can play a part too?

The Ocean Cleanup is one initiative aiming to remove plastic waste from our oceans. As with Amazon Watch, an allocation of NFT purchases on Next Earth are donated to this environmental group.

Innovative companies like Next Earth have come up with solutions that make us rethink how we consume digital content; from virtual real estate, and soon to land art, which can be bought and sold as NFTs.

These NFTs allow people to express themselves by owning unique assets, rather than just being “branded” users on social media platforms or having their data tracked online. This allows them greater control over how they present themselves online, which has obvious benefits for society beyond just looking cool: freedom from conformity improves mental health.

Ultimately, NFTs are powerful in many ways: As tools for creative self-expression, and also as ways to support your famous environmental initiatives, from cleaning up plastic in the oceans to saving our precious rainforests.

Photo by Shai Pal on Unsplash

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Source: https://www.newsbtc.com/news/company/nfts-are-helping-to-save-the-environment/

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