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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

Elon Musk Teases Bitcoin Maximilsts Once Again

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The CEO of Tesla, SpaceX, and The Boring Company, has taken another humoristic stab at BTC maxis by asking how many are needed to change a light bulb. The wave of comments didn’t disappoint from names like Michael Saylor, Dan Held, Raoul Pal, and more.

  • Ever since the start of the year when Musk said he regretted not buying bitcoin years ago and later revealed that his EV company had actually purchased $1.5B in BTC, the billionaire has frequently been engaging with the community.
  • Most of the discussions used to be in a positive manner, but it all changed when Tesla disabled BTC payments citing environmental issues. When Musk started bashing the cryptocurrency for its high energy consumption levels, most Bitcoin maximalists changed their tunes as well.
  • However, it seems that Tesla’s CEO sees most of it from a humoristic point of view and the latest example, which came earlier today, supports this idea.
  • He reiterated a popular question on Twitter – ”How many Bitcoin maxis does it take to screw in a lightbulb?” Later on, his own response was also quite ironic.
  • Some popular BTC maximalists and other cryptocurrency commentators quickly offered their opinion on the matter. Michael Saylor, the CEO of MicroStrategy, was among the first who also caught the irony – “if you give us 10 minutes, maybe we can hash out the answer,” referring to how the Bitcoin network works.
  • Peter McCormack, the podcaster who recently interviewed the President of El Salvador on the country’s BTC adoption, took a stab at Musk, while Raoul Pal spoke about his views on what the BTC maxi tribe represents.
  • Interestingly, Dan Held, the Head of Growth at Kraken, responded with a reference towards Elon Musk’s favorite meme coin – Dogecoin.
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Source: https://cryptopotato.com/elon-musk-teases-bitcoin-maximilsts-once-again/

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Blockchain

Bitcoin’s Dominance Rises as BTC Reached a 4-Day High at $35,500 (Market Watch)

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Although bitcoin failed to continue upwards after its intraday high of $35,500, its dominance over the market has increased further. This comes as most alternative coins have stalled, except for Dogecoin, which is up by double-digits.

BTC Dominance on the Rise

After the mid-week crash, in which bitcoin slumped below $30,000 for the first time since January, the asset’s performance has been calmer. It recovered most losses and even spiked to just shy of $35,000 on the following day but failed to continue higher as reported.

The bears drove it south to around $32,000, but the trajectory quickly reversed in the following hours. BTC started climbing again and added more than $3,000 of value.

As a result, it charted a four-day high of approximately $35,500. Despite losing over a grand since then, its dominance over the market has actually increased.

The metric comparing BTC’s market capitalization with all other cryptocurrencies is up to 47%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Stall While DOGE Pumps

Most of the alternative coins have remained stagnant on a 24-hour scale. Although Ethereum recovered from its most violent stages of the crash, it still fails to overcome $2,000 decisively. As a result, ETH trades just north of $1,900 for a second consecutive day.

Binance Coin jumped higher in the past 24 hours and even exceeded $310 at one point, but has retraced since then and is currently around $290. Cardano, Polkadot, Bitcoin Cash, and Chainlink are slightly in the red since yesterday.

In contrast, Ripple, Uniswap, Litecoin, and Solana have marked minor gains. Dogecoin is the most impressive performer once more from the larger-cap alts following a 10% increase to $0.26.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More fluctuations come from lower- and mid-cap alts. Celo (20%) has surged the most, followed by Nano (16%), Siacoin (12%), THORChain (12%), Curve DAO Token (11%), and Waves (10%).

Klaytn has lost the most from yesterday after a 14% drop. Nevertheless, the cumulative market capitalization of all cryptocurrency assets has remained just shy of $1.4 trillion.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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Source: https://cryptopotato.com/bitcoins-dominance-rises-as-btc-reached-a-4-day-high-at-35500-market-watch/

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XRP, Chainlink, VeChain Price Analysis: 25 June 

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As the market continued to make slow and steady recovery, some altcoins bounced back up earlier than expected while others highlighted more volatility and steeper ups and downs.

With new updates in the SEC v. Ripple lawsuit rearing their heads every other day, XRP hiked after the 21 June fall. VeChain, on the contrary, made headlines after VeTrust, built on VeChain Thor, got adopted by a local Chinese government for better COVID-19 risk management.                                                                                                

XRPSource: XRP/USD – TradingView

XRP made a swift recovery as it noted 22% gains from its 22 June levels. The asset, after testing the $0.775-support on 21 June, fell below this level and tested the lower support at $0.55. XRP, after testing its lower support, later bounced back and highlighted considerable price gains.  

The Bollinger Bands for the asset noted a slight convergence that saw reduced volatility and a less expanded price range as the asset made recovery from its lower lows. Further, bullish momentum could be observed building on the Awesome Oscillator with the appearance of green bars. 

The Relative Strength Index for XRP was heading towards the neutral zone and had a reading of 38.43 at press time. The RSI’s uptick underlined an increase in buying pressure, one which pulled the asset from the oversold zone on 23 June. However, sellers were still dominant at press time.

XRP was trading at $0.67 at press time and if its northbound price movement continues, it can test the  $0.775-resistance as well.  

Chainlink [LINK]Source: LINK/USD – TradingView

LINK was trading at $18.9 at press time and was down 64.01% from its ATH with a breakeven multiple of 2.78. The alt’s price, after testing the $17.3 support, bounced back and made decent recoveries. The 15th ranked coin had a 24-hour price hike of 3.80% and a 7-day price dip of 16.30%. 

In light of the appearance of green candlesticks on the chart, the prevailing trend was slightly bullish. This corresponded with the Parabolic SAR’s white dots that have appeared below the candlesticks since the beginning of 24 June. Further, the Squeeze Momentum Indicator pointed to an active squeeze release (white dots) and projected a bullish trend in store for the asset. 

Finally, the MACD and Signal lines underwent a bullish crossover on 24 June, pointing towards a market recovery for the alt. This could lead the asset to rally towards the $25.9-resistance if recoveries continue.

VeChain [VET]Source: VET/USD – TradingView

VeChain was trading at $0.08 at press time and was ranked 21st on CoinMarkerCap. The alt saw decent recoveries after the 21 June price fall, and its 7-day price dip was 23.29% while its 24-hour price gain was 5.50%. The asset was down 70.14% from its ATH and had a breakeven multiple of 3.35. 

Bollinger Bands for the asset highlighted increased volatility and pictured a more expanded price range as the asset made recovery from its lower lows. Capital inflows for the asset were neutral, according to Chaikin Money Flow, with outflows still dominant in the market.

Finally, the Average Directional Index (ADX), highlighted a non-directional market. Once ADX is under 25, an uptrend can be expected to become stronger. The alt, after testing its lower support at $0.07, bounced back up and if the price rallies further it could touch the resistance level at $0.098.


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Source: https://ambcrypto.com/xrp-chainlink-vechain-price-analysis-25-june

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