Crypto Blog – Bitcoins & Other Virtual Currencies

News & Opinion on Bitcoins and Alt Cryptocurrencies

Latest Posts

Is the Hashlet The New Route To Mining ROI?

Gaw Miners recently introduced the scrypt mining hashlet, temporarily causing their shopify ecommerce engine to crash – such was the demand.

So what are hashlets? Billed as the worlds first digital cloud miners, it is reasonably safe to assume these are a matrix of vaultbreaker style mix & match modules. Instead of worrying about expensive hardware and electricity consumption, you simply buy hash power (a virtual machine if you will).

The big difference between the hashlet and the hashing power available on other cloud mining sites, is the claim by Gaw that each hashlet gets more efficient as more of the modules are added to the grid. This, they claim will actually reduce maintenance costs over time!

Judging by the clamour for Hashlets it seems like the public agree. Find out more at Gaw Miners.

Scrypt Mining In The Cloud – Best Bang For Buck at Gaw Miners!

With the launch of myriad asic scrypt miners the days of mining at home seem to be disappearing in favour of cloud mining. Gaw Miners offer a variety of hardware hosted through the zen cloud mining site.

There are many factors to consider and with such a wide array of hardware on offer it can be difficult to make the right choice. Gaw currently offer 1 month of free hosting with their current range but what miner is the most profitable once the daily maintenance charges kick in?

We looked at the full range and took into account the upfront cost and 3 months maintenance charge to find the best deal per Mh for each machine. As hardware is often obsolete within 4-6 months this guide effectively lets you know how much the costs will be for 4 months (including the 1 month free)

Asic Scrypt Cloud Mining Hardware - Best Deals At Gaw
Miner Hash Rate (Mh) Cost $ per Mh Maint/Day Maint/Mh (90 Days) Total $ per Mh Link
War Machine 54 $1049.99 $19.44 $4.41 $7.35 $26.79 More Info
The Boulder 43 $939.95 $21.86 $2.40 $5.02 $26.88 More Info
Silverfish 2 28 $839.95 $30 $1.18 $3.79 $33.79 More Info
The Falcon 27 $734.95 $27.22 $2.20 $7.33 $34.55 More Info
The Ratchet 19 $599.95 $31.58 $1.10 $5.21 $36.79 More Info
G Black 25 $839.95 $33.60 $1.22 $4.39 $37.99 More Info
The Cliff Jumper 9.5 $309.95 $32.63 $0.61 $5.78 $38.51 More Info
Black Widow 13 $419.95 $32.30 $0.98 $6.78 $39.09 More Info
The Fury 1.3 $44.95 $34.58 $0.11 $7.62 $42.19 More Info
Gridseed Blade 5.2 $209.95 $40.38 $0.34 $5.88 $46.26 More Info
The Bee 3.6 $154.95 $43.04 $0.24 $6.00 $49.04 More Info
A2 80 $4199.95 $52.50 $1.54 $1.73 $54.23 More Info
Silverfish 5 70 $3834.95 $54.79 $2.69 $3.46 $58.24 More Info
A2 Mini 28 $2519.95 $90 $0.49 $1.58 $91.57 More Info
Gridseed 5 Chip 0.3 $29.95 $99.83 $0.11 $33 $132.83 More Info

Key:
Column 4 $/Mh = Cost per Mh based on purchase cost only
Column 5 Maint/Day = Maintenance Charge for full Machine per day
Column 6 Maint/Mh (90 Days) = Maintenance charge per Mh for 90 days (120 days if you include first month free)
Column 7 Total $ per Mh = The total cost per Mh over 90 days including purchase cost and maintenance (120 days if you include the first month free)

Conclusion:

Best High End Stealth Machine:

The War Machine 54Mh $1049.95 – Cost Per Mh over 4 Months = $26.79

Gaw Miners War machine

Best Mid Range Buy:

Silverfish 2 28Mh $839.95 – Cost Per Mh over 4 Months = $33.79

Gaw Miners Silverfish

Best Budget Buy

The Fury 1.3Mh $44.95 – Cost Per Mh over 4 Months = $42.19

Gaw Miners Fury

We have a limited number of promotional codes for Gaw Miners.

WELCOMETOGAW – $10 off orders over $150

GAW25 – $25 off orders over $200

GAW3FOR3000 – 3% off orders over $3000

GAW4FOR4000 – 4% off orders over $4000

GAW5FOR5000 – 5% off orders over $5000

*Note – Prices correct as of 5th August 2014 and may be subject to change. Errors and omissions excepted.
 
By
 

Get 50,000 Satoshi Free Now

How to Get 50,000 Satoshi Free Now

Step One

Latium is the first and only truly FREE cryptocurrency.
Sign up today and get 5 FREE coins…and they say nothing in life is free, well they’re wrong! LATIUM is totally free!

latium-sign-up-button-png-i2

Step Two

Download the Windows/Mac/Linux client that you see after registering on the latium site

latium wallet client

Now launch the wallet and let it sync. Then click ‘receive coins’ at the top.
Copy your latium address as shown below then proceed to step 3.

latium-client

Step 3

You should be logged into your Latium account on the website. In the left had menu click ‘Reports’ then “Payouts To Me’. Add your copied wallet address and then click request payment.

LatiumScreenShot2

That’s it! You can now trade your Latium for Bitcoin, Leave it in your wallet to accrue interest or you can get more latium by using your referral link and spreading the word. See below:

1. Open an account at Coinswap to trade in your Latium for Bitcoin.

2. Get referrals buy advertising on BTC Clicks or CoinAds.

3. Leave Latium in your wallet to earn interest (see screenshot below)

Latium Earnings

* Please note: only valid referrals will credit you with Latium and are subject to approval before being credited to your account. Price of Latium will vary and go up or down. 50,000 satoshi for 5 Latium was the price quoted on CoinSwap on 1/8/2014.

Review: Gaw Miners Fury (Zeus) Asic Scrypt Miner

gaw-zeus
We’ve had 3 of these entry level asic scrypt devices running for the last few weeks without any problems whatsoever.

At $60-$90 each they are certainly affordable little workhorses when you compare them to expensive high-end graphics cards. We ordered direct from Gaw, so be aware that you’ll need to pay a customs import tax levy in the UK.

The unit comes neatly packaged with USB lead and power cable (UK adaptor needed). You can be up and running in a few minutes with custom software builds for Windows, Linux and Mac available from the Gaw website. We used the excellent BFG Miner from Nate Woolls blog – instructions here.

We’ve been advised that the units can draw 48 watts. Although a little high this still compares favourably to running a PC tower and power hungry graphics card. Each unit will hash at 1-1.3 MH/s and you can also buy with hosted cloud mining at Zen Miners.

With a vast array of high powered Asic Scrypt miners hitting the market the units may have a limited life span but if you want to dabble without risking too much money, then these are the perfect fit.

Gaw Miners Website

Beware Bitcoin Scams!

How to avoid bitcoin scams

The Bitcoin community is a fairly solid one but like anything gathering traction, rogues will infiltrate at will. The anonymity of Bitcoin with the benefit of decentralization can also be it’s weakness.

Scam sites can remain undetected and once your cryptocurrency leaves your wallet there isn’t a great deal you can do to get it back. One site looking to change all that is Badbitcoin.org which lists dubious websites.

Kosher sites can ask to be delisted from the site if a mistake has been made, but the site is worth a scan before you dive in to any double your money schemes. One such site currently advertising heavily is doubleurbtc.com. It promises quick returns on your investment with daily payouts. The only problem is that once you’ve received the first few payments, your account suddenly disappears and you’ve been scammed!

Bitcoin Magazine

Bitcoin Magazine (Photo credit: zcopley)

 

Free Altcoins! – A Guide To The Best Faucets

Altcoins can be more fun and rewarding (as well as risky) than Bitcoin. There are quite a few altcoin faucets springing up and we’ve listed some below. For Bitcoin faucets please see our other guide here.

Don’t forget if you are an absolute starter you’ll need a wallet and address so you can store your coins. For altcoins you could do worst than open an account at Bleutrade and get wallet addresses provided for all your altcoins.

Free Altcoin Faucets
Site Reward Comments Rating Link
Moon Litecoin Varies You claim when you want 5 stars visitsite
Free Dogecoin Varies Up to 500000 Doge every hour! 5 stars visitsite
Moon Dogecoin Varies You claim when you want 5 stars visitsite
Field Litecoin Varies Claim every 5 minutes or you decide! 4 stars visitsite

What’s the fuss about Latium?

Latium Coin Crypto Logo

Anybody who reads this blog will know that I’m a big fan of cryptocurrencies that have something different to offer.

Latium is one such currency. Like another favourite of mine NXT, Latium can’t be mined and relies on 2 channels for value and growth. The first channel is the affiliate or referral network. Nothing much new there unless you dig a bit deeper.

[Edit July 5th: The Latium system had a big problem with bogus sign-ups and many genuine referral campaigns had their earnings approved before the loophole was detected. In many cases these ‘approved’ earnings were removed from existing users wallets, leaving a lot of bad feeling on the forums. If you do use a referral campaign to acquire affiliates then please bear this in mind. The admins claim the system has been improved]

Firstly you get 5 coins just for creating an account and downloading the wallet and then you accrue coins by referring others up to a maximum of 99 levels. Don’t forget the first 5 coins are free so this can’t be considered a pyramid scheme.

Secondly and perhaps crucially, if you choose to store the coins in your downloaded wallet rather than trade them they will accrue interest for you. This is clever as it creates a value/need for the coin.

This minting is explained on the website

Minting is performed automatically by the Latium wallet only if the wallet is online and connected. There is no additional work or requirements to mint your Latium. Once your Latium has been confirmed, you will start generating “coin age.” Once your coin age exceeds six hours, your coins will be available to mint new blocks. When you mint a block, the coins used will be placed “at stake” and will remain at stake until 48 blocks have minted. Coins that are at stake are unavailable for transfer. After the 48 blocks have been minted, your initial coins along with the interest gained by minting will be available in your balance.”

At the moment on coin-swap the value of 1 Latium is 0.00009000 BTC – not a bad start – although with a new pre-mined coin the value could fluctuate wildly and any artificial buy orders could soon have an effect.

With any take up or online transaction traction we could see Latium becoming another Doge but with less draw on energy bills because of the absence of any mining need. Definitely one to watch.

Read more on Latium and sign up here.

Free Bitcoins! – A Guide To The Best Faucets – Updated Daily!

Not everyone wants to mine or trade bitcoins. If you want to dabble in Bitcoins without risking your own funds there are numerous FREE BITCOIN resources available enabling you to get some bitcoins for free. We’ve researched these faucets (taps if you prefer the UK nomenclature) and produced this handy list of sites where you can claim your free coins. For Altcoin faucets please see our other guide here.

Don’t forget if you are an absolute starter you’ll need a wallet and address so you can store your coins. Get one free at Blockchain.info

Free Bitcoin Faucets
Site Reward Comments Rating Link
Moon Bitcoin Increases with time! Whenever you want 5 stars visitsite
Spin & Win Up to 500000 satoshi Every 15 mins 5 stars visitsite
E Pay Faucet Rotator 50-500000 Satoshi Rotator 5 stars visitsite
Scratch4Satoshis Up to 10000 satoshi Every hour 5 stars visitsite
Bitcoinker 100-200 Satoshi Payout every 15 mins 4 stars visitsite
Free Bitcoin Varies Up to 0.3 BTC every hour! 5 stars visitsite
Quoin Faucet 200-500 Satoshi Every hour 4 stars visitsite

Circle launches new Bitcoin exchange service. Time to go mainstream?

Nobody gets me Bitcoins!

Nobody gets me Bitcoins! (Photo credit: zcopley)

The recent Bitcoin conference in Amsterdam saw the launch of a new Bitcoin trading platform Circle.

With a manifesto to smooth the transition of adaptation into everyday use the website’s strapline is “Bitcoin is digital money for the modern world. We make it easy to use—instant, secure, and free. The way money should be.”

The secret here is that the site will seamlessly connect with regular debit/credit cards and handle the crypto conversions on the fly. Currently the service is free and users need to request an invite to take part. Founded by former Brightcove CEO Jeremy Allaire, Circle has already raised over $26 million in private capital,

The site has invested heavily in security and compliance regulation. A wise move with the bad press surrounding other large bitcoin exchanges. They’ve promised a $10 credit to all new users too!

Enhanced by Zemanta