LTCGear Review

Litecoin Gear Logo

As you’ll know from my other recent posts, I’ve invested some money with GAW Miners and their Hashlets for cloud mining altcoins. These pay out about 0.9% (just under 1%) per day, so they look to be a good place for long-term investment. They also have a thriving community and it’s there that I first learned of LTCGear, the subject of this review.
Litecoin Gear (LTCGear) have been around for well over a year, a pretty long time where Bitcoin/cryptocurrency companies are concerned. Initially the owner sold FPGA (Field-Programmable Gate Array) scrypt mining hardware to customers. But …

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Altcoin Mining Contracts

Update Sept. 8th. The price of the GAW Miners HashletPrime rose by $10 today to $49.95. I wrote the article below over the weekend (when the HashletPrime was still $39.99) and published it earlier today.

As I mentioned in my previous post, GPU mining of cryptocurrencies is now a dead duck for me. Rising network difficulty, the arrival of (Application-Specific Integrated Circuit) ASIC Scrypt miners and the relative high cost of electricity (US$0.24 per Kw/h) has meant that running a 390W mining rig is just throwing money down the drain. At least when the rig was …

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Mining Altcoins

Wow, 6 months have passed since I last posted here on Bitcoin Newsflash. Summer and other stuff happened that took my focus away from the world of cryptocurrencies. But now I’m back.

When I lasted posted, in March, I was still GPU mining. I was more or less at the break-even level, just converting electricity into Bitcoin with no profit. No matter what cgminer settings I tried in my XUbuntu powered mining rig, I couldn’t get more than 620Mh/s hashing power out of my Sapphire R9 280X video card. The price of electricity where I live is about …

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The Mt.Gox debacle has got some pundits chirping about how it will bring about the fall of Bitcoin. I came across this article in which an economist puts forward her ideas on why Bitcoin is a failed experiment and why it’s value will drop to zero.

I don’t agree with her, and here’s why (you’ll need to read her article first):

  1. She’s wrong on this statement: “Fiat currencies (money) are pegged to real assets and backed by governments“. Fiat currencies are basically backed by hot air and not by real assets. That all stopped when the dollar was

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