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Why not to mine coins on your laptop – a €600 lesson

May 2018 update – This article was originally written in 2015, and remains valid when discussing bitcoin/BTC mining. However, in the meantime a variety of altcoins and forks of bitcoin can use GPU mining, although the risks outlined in the article below still remain. So last year (2014), well before I invested in my own ASIC hardware for this site, I dabbled in bitcoin mining on my own personal laptop. It was a good one for gaming, being an Alienware m14 r2, and cost me about €1,200. I had first mined a few kilohashes on an older laptop, but Mechwarrior Online was

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May 2018 update – This article was originally written in 2015, and remains valid when discussing bitcoin/BTC mining. However, in the meantime a variety of altcoins and forks of bitcoin can use GPU mining, although the risks outlined in the article below still remain.

So last year (2014), well before I invested in my own ASIC hardware for this site, I dabbled in bitcoin mining on my own personal laptop. It was a good one for gaming, being an Alienware m14 r2, and cost me about €1,200. I had first mined a few kilohashes on an older laptop, but Mechwarrior Online was launching, and it was the game that would make me upgrade my laptop. So I did, getting the best machine I could afford at the time.

Once I had it though, I quickly realised that nVidia GPU’s were terrible for mining bitcoin, and at the time I began to mine litecoin instead on a mining pool, which taught me about configuring wallets, mining software, and getting the settings right. However running my machine for long stretches at full pelt when I wasn’t using it, I generated about 2.5 litecoin, which I then sold for about $80 on btc-e. I got my first meaningful bitcoin this way, making some by trading small amounts, and then losing it all regularly 🙂

However, in order to earn this, I was not only paying fairly high electricity costs with my laptop running full pelt, but the mining caused considerable damage to my machine, which will hopefully be a warning for others thinking of using their laptop.

Laptop + bitcoin mining = heat, warping, cracking and worse!

Laptop + bitcoin mining = heat, warping, cracking and worse!

So my GPU is behind the top left side of my keyboard, and running hot as it was, the heat then caused further damage. Not only did it warm the solder on my left USB ports to the point where they disconnected after being plugged in while warm, but the heat transferred through the frame of my computer into the hinge between the keyboard and screen. This warmed up, and warped, but then cooled later and froze solid while it was closed.

Not knowing this, I then opened up my laptop case, hearing an almighty crunch as the hinge locked in place, and part of the LCD frame stayed with it, shattering and locking solid. Shortly thereafter, started showing on the screen, as the cabling continued to be damaged, and ultimately the left 1/3 of the screen rainbowed.

So cue a visit to my local computer repair shop, who looked at the damage, and between all the parts that needed to be sourced, and the labour to get it back in a usable state, €600 later I got my laptop back. And uninstalled mining software straight away. After this, I then got some small cloud mining contracts, firstly with a Dutch company called minerlease, and then a six month contract from March to Septemeber with someone I found on ebay. The latter was very helpful, letting me move around my hashing between some different pools, and ultimately led me to decide that I wanted to buy the four Antminer S1’s that we use to review mining pools, and then spend the coins doing our reviews.

So what’s the lesson from this? Definitely don’t try to mine cryptocurrencies on a laptop, and if you’re thinking of it for a GPU on a desktop, all you’re going to do is run up an electricity bill and shorten your hardware’s life, or do a load of damage like I did. You can get started with second hand mining equipment thousands of times more powerful than graphics cards for about €200, and if you’re still into it after you’ve done that for a while, then you know you’re a lifer!

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Source: https://bitcoinsinireland.com/why-not-to-mine-bitcoin-on-your-laptop-a-e600-lesson/

Blockchain

MATIC Price Analysis: Weekly and 4 Hr Chart Analyses Reveals Buy Signal for Polygon

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Polygon recently set a new record for highest bounty paid in DeFi. The team at Polygon paid a two million US dollar worth of bounty to Gerhard Wagner, a white hat hacker who discovered a crucial vulnerability that had put around 850 million US dollars’ worth of capital at risk.

So what type of vulnerability could this be? Well, it’s a double-spend bug, a type of bug that could have tuned catastrophic for the Polygon ecosystem.

Bullish/Bearish Scenario

  • The bear-trap candlestick formation on the weekly time frame, alongside the buildup of bullish divergence on the 4HR time frame, shows that the bulls are back in control.
  • A breakdown of the 1.152 support implies a bearish takeover.

Important Weekly Polygon (MATIC) Announcements

  • Immunefi, a bug bounty, and security platform acknowledged that the bounty is the highest that has been paid in decentralized finance [DeFi].
  • Another exciting announcement in the Polygon ecosystem is the PECO-Polygon Ecosystem Index, which makes it possible for participants to bet on the performance of Polygon [MATIC] projects. The PECO Index is a single token that captures the best native projects on @xPolygon.

Without any further delay, Let’s analyze the MATICUSDT price chart.

Polygon (MATIC) Price Analysis:  MATICUSDT Weekly Chart 

Following the path of most top altcoins in the cryptocurrency market, the MATICUSDT triggers a bear-trap candlestick formation while trading within a rising and expanding wedge.

Although the crypto pair still trades below its all-time high, higher RSI readings above level-25 tell us that we are still in an uptrend and we may soon see a surge in demand for the MATIC token.

Polygon (MATIC) Price Analysis:  MATICUSDT Daily Chart 

A recent regular bearish divergence on the daily chart above shows that we may soon see a slowing and possible correction of current gains.

Failure of RSI values to breach below level-25 would suggest a continuation of the current uptrend.

Polygon (MATIC) Price Analysis:  MATICUSDT 4 Hr Chart 

As the RSI prints higher values above level-25 on the daily time frame, the 4HR time frame confirms entry into the uptrend with an exit of the oversold area [level-25] with the recent entry of oversold at press time.

Regular and hidden bullish divergence setups are instrumental for the previous trend reversal and current trend continuation we see on the above intraday chart.

An impending hidden bullish divergence at press time may be sufficient for the bulls to find a price floor above the 1.491 support and restore the MATIC price into new highs.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/polygon-matic-price-analysis-intraday-hidden-bullish-divergence-signals-trend-continuation-for-maticusdt/

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Blockchain

Harmony’s ONE Token Targets $1 After Breaking All-Time High

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/harmonys-one-token-targets-1-after-breaking-all-time-high/?utm_source=main_feed&utm_medium=rss

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Blockchain

NEAR Announces $800M in Development Grants

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptobriefing.com/near-announces-800m-in-development-grants/?utm_source=main_feed&utm_medium=rss

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