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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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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Here’s the latest update on my Litecoin Mining Rig…

Having successfully built the rig and known that all the components were working, it was time to install an operating system. Since you can’t transfer Windows 7 hard drives between PCs and I didn’t have a spare eSATA hard drive lying around, it looked like running Linux from a USB key was the way to go.

This was not nearly as easy as I had expected.

Linux Install Problems

I found this set of instructions on how to install Linux on a PC specifically built to mine coins.

Now, it’s over …

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Three days ago (Friday), the other mining rig components I ordered – the the ASROCK motherboard [UK], RAM [UK] and processor [UK] arrived. So now I had everything I needed to finally build this Litecoin mining rig…

Except I forgot to order a WiFi card! Never mind, I could take one from an old PC I hardly use any more.

With everything now ready, I could start assembling the PC.

It’s been many, many years since I actually built a PC from bought components so naturally I made a dumb mistake!

Mt first order …

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Just a quick update on my R9 280X card [UK]. Since I couldn’t get the card to work in my PC (a 3-year old off-the-shelf PC) or a friend’s 2-year old gaming PC, we both figured the card was a dud. So I returned it to the supplier with a view to getting a replacement card.

Note: If you’re thinking of buying any video cards for a mining rig, go for the Sapphire, MSI or Gigibyte brands only. Other makes seem to have problems when used in dedicated mining rigs.

I sent the video card back by registered …

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As I mentioned in my previous post, I couldn’t get the Sapphire R9 280X video card (UK/Europe) to work in my PC. Not knowing if it was some issue with my motherboard (the new 600W PSU [UK] has more than enough juice to run the card) or a dud video card, I tried the card out in a friend’s PC.

Every motherboard manufacturer seems to use a different method for locking PCIe cards in place and the Alienware machine we were going to test the card on was no different. Once we’d looked up how …

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Well, my Corsair CX600M PSU arrived yesterday and I finally got time today to replace the existing PSU in my PC with it so I can build my Litecoin mining rig.

All the power leads that come with it are black so it’s a little odd not having the color-coded wires of old to work with. Still, all the connectors are keyed, so it’s impossible to put them into the wrong sockets.

My R9 280X video card has two power connectors, one presumably for the card itself and the other for running the cooling fans. These are 8-way connectors, and …

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Since I made the decision that mining Bitcoins wasn’t a viable option – it’s better to buy Bitcoins outright to hold or trade at a later date – I’ve found that Litecoin mining is still profitable.

In fact, I’ve been mining Litecoins for the last 2 weeks. It’s nothing to write home about. My nVidia GT 530 card (nearly 3 years old) using the CudaMiner software is hashing at the not so impressive speed of 25 KH/s. That gets me about 0.01 Litecoins per day. Actually less as I don’t leave the PC on 24/7. And, as I am using …

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In my ignorance of the subject, I thought that Bitcoin was the only virtual currency in existence. It turns out that’s not the case. While media attention has focused on Bitcoin, other forms of virtual currency have been created in recent years.

I became aware of these while I was researching Bitcoins and how to mine them.

Bitcoin Mining Not For Me

Having looked into Bicoin mining in an attempt to get on the bandwagon, it became clear very quickly that using your own mining rigs was just not economical. CPU mining died out in 2010 and GPU mining (using …

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