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Mining Profitability (Scrypt) – January 2014

cryptocurrency is a type of digital currency that relies on cryptography, peer-to-peer networking and decentralization. In some cases a proof-of-work scheme is used to create and manage the currency.

List of Digital Currencies (Cryptocurrencies)

For a full list of digital currencies, see list of digital currencies at CoinWarz.com

Wallets

Coin wallet software has been implemented in several programming languages for personal computers, mobile devices, and as web applications. At the most basic a wallet program generates and stores private keys and communicates with peers on the coin network. When making a purchase with a mobile device, the use of QR codes to simplify transactions is ubiquitous. There are also now several server software implementations of the coin protocol. So-called “full” nodes on the network validate transactions and blocks they receive and relay them to connected peers.

Coin uses public-key cryptography, in which pairs of cryptographic keys, one public and one private, are generated. A collection of keys is called a wallet. Note that sometimes this term is used to mean the software itself in the sense of digital wallet. A coin transaction transfers ownership to a new address, an alphanumeric string of the form 1FfmbHfnpaZjKFvyi1okTjJJusN455paPH derived from public keys by application of a hash function and encoding scheme. The corresponding private keys act as a safeguard; a valid payment message from an address must contain the associated public key and a digital signature proving possession of the associated private key. Because anyone with a private key can spend all of the coins sent to the corresponding address, the essence of coin security is protection of private keys.

Mining Pools

Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time.

How to find mining pool?

Just type: [Cryptocurrency Name] + [Pool] in Google i.e. Doge Pool.

  • Create an account on the Pool
  • Set your Worker (user name and password)
  • Set your Payment Address = Your Coin Wallet Address
  • Use your Pool settings to write a batch (.bat) file, example is below.
  • Start your mining software using your Batch File, i.e. cgminer.
  • Check your Dashboard on the Pool (wait 30 minutes and compare hash rate to hash rate in cgminer)

Mining Software

Miners have a choice among several mining programs, for instance cgminer, BFGMiner, DiabloMiner, poclbm, and Phoenix. A more recent release of any one of them may contain a slightly more optimized version of the OpenCL-based mining program, while others may do a better job of auto-overclocking graphics cards. Some of these mining programs can also control FPGA-based mining hardware, or even the latest ASIC-based equipment. My recommendation is to use cgminer 3.7.2 (version 3.5.0 for Litecoins).

My cgminer setting for 4x Radeon HD 7990:

cgminer.exe –scrypt -o stratum+tcp://[server]:[port] -u [user] -p [password]  –intensity 13 -g 2 –thread-concurrency 8192

Download the latest version: cgminerBFGMinerDiabloMinerpoclbmPhoenix.

Mining Hardware

It is time to choose your hardware for Scrypt Mining Rig. Mining software will work on any computer running any version of Windows from XP to 8.1, Linux or Mac OS X. Don’t waste your money and power (Watts). You don’t need strong CPU, lots of memory, hard disk,  and definitely no need computer case!

The Best Rig suitable for 1-8 GPU’s:

  • Motherboard: ASUS M5A99X EVO R2.0
  • CPU: AMD Sempron 145 (Single Core 2.8GHz)
  • RAM: Corsair Vengeance 8GB DDR3 1600MHz
  • SSD: Kingston 60GB SSDNow V300 or Pendrive USB 3.0
  • FAN: Sinbo 18inch Floor Fan (75W)
  • PSU: 80 Plus certified 1475-1600W (optional 2x 800W+)
  • Other: PCI-E Risers, Power Meter, LCD Thermometer

TOTAL PRICE: £500-560 (price not including Graphics Cards)

Graphics Cards –  how many hashes?

  • Statistics about the mining performance of various hardware used in a Mining Rig can be found here: Litecoin.info

How to pick the best PC Power Supply?

  • Look for units with “80 Plus” certification. Though the certification process isn’t especially stringent, 80 Plus-certified units are confirmed to be at least 80 percent efficient; and 80 Plus has tiers for even more-efficient units, including 80 Plus Bronze, Silver, Gold, Platinum, and Titanium certifications. Power supplies in the higher certification tiers tend to command very high prices, however. All 80 Plus Power Supplies can be found here: 80plus.org
  • Do not exceed the maximum power! Buy Power Meter for only £10, check the Power Input Watts and compare to the Power Supply Input Wattage (find you PSU model here)

The Difficulty

The difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes. As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down.

Please note that the difficulty can increase!
From the other hand a coin’s value can increase.

Assuming 20% income decreases every month but it is hard to predict the income for the next month.

Mining Profitability (Scrypt)

Extreme Build Calculation #1 (4x Radeon HD 7990)

Mining Rig (CPU, Motherboard, RAM, SSD) £450
Graphic Cards (4x Radeon HD 7990): 4x £600 = £2400
Fan, Risers, Power Meter, Thermometer: £100
Boltless Industrial Heavy Duty Shelving: £80 (not included)

Rig Cost: £2950 (25th January 2013)
Electricity Cost UK (1.9KW x 24h x 30.5 days) : £160/month
British Gas (Fixed Price Feb 2015) 11.040p/kWh – please check your supplier!

DOGE Coin (Hash Rate: 5000KH/s, Difficulty: 1305) = $82 (£50) / day
Monthly Profit: £1525
Bitcoin Exchange (International Money Transfer): $50 (£30) / transaction

Mining Income (first month): £1495 / month

  • 1st Month: – £2950 – £160 + £1495 = – £1615
  • 2nd Month: – £1615 – £160 + £1196 = – £579
  • 3rd Month: – £579 – £160 + £957 = + £218
  • 4th Month: + £218 – £160 + £765 =  + £823
  • 5th Month: + £823 – £160 + £612 = + £1275
  • 6th Month: + £1275 – £160 + £551 = + £1666

High-End Build Calculation #2 (4x Radeon R9 290)

Mining Rig (CPU, Motherboard, RAM, SSD) £450
Graphic Cards (4x Radeon R2 290): 4x £320 = £1280
Fan, Risers, Power Meter, Thermometer: £100
Boltless Industrial Heavy Duty Shelving: £80 (not included)

Rig Cost: £1830 (25th January 2013)
Electricity Cost UK (approx. 1.3KW x 24h x 30.5 days) : £105/month
British Gas (Fixed Price Feb 2015) 11.040p/kWh – please check your supplier!

DOGE Coin (Hash Rate: 3300KH/s, Difficulty: 1305) = $54 (£33) / day
Monthly Profit: £1006
Bitcoin Exchange (International Money Transfer): $50 (£30) / transaction

Mining Income (first month): £976 / month

  • 1st Month: – £1830 – £105 + £976 = – £959
  • 2nd Month: – £959 – £105 + £781= – £283
  • 3rd Month: – £283 – £105 + £625 = + £237
  • 4th Month: + £237 – £105 + £500 = + £632
  • 5th  Month: + £632 – £105 + £400 = + £927
  • 6th Month: + £927 – £105 + £360 = + £1182

Mid-Range Build Calculation #3 (3x Radeon HD 7950)

Mining Rig (CPU, Motherboard, RAM, SSD) £450
Graphic Cards (3x Radeon HD 7950): 3x £225 = £675
Fan, Risers, Power Meter, Thermometer: £90
Boltless Industrial Heavy Duty Shelving: £80 (not included)

Rig Cost: £1215 (25th January 2013)
Electricity Cost UK (approx. 760W x 24h x 30.5 days) : £65/month
British Gas (Fixed Price Feb 2015) 11.040p/kWh – please check your supplier!

DOGE Coin (Hash Rate: 2000KH/s, Difficulty: 1305) = $33 (£20) / day
Monthly Profit: £610
Bitcoin Exchange (International Money Transfer): $50 (£30) / transaction

Mining Income (first month): £580 / month

  • 1st Month: – £1215 – £65 + £580 = – £700
  • 2nd Month: – £700 – £65 + £464= – £301
  • 3rd Month: – £301 – £65 + £371 = + £5
  • 4th Month: + £5 – £65 + £297 = + £237
  • 5th Month: + £237 – £65 + £238 = + £410
  • 6th Month: + £410 – £65 + £214 = + £559

Low-End Build Calculation #4 (Radeon HD 7970)

Mining Rig (CPU, Motherboard, RAM, SSD) £450
Graphic Card (Radeon HD 7970): £240
Fan, Risers, Power Meter, Thermometer: £60
Boltless Industrial Heavy Duty Shelving: £80 (not included)

Rig Cost: £750 (25th January 2013)
Electricity Cost UK (500W x 24h x 30.5 days) : £40/month
British Gas (Fixed Price Feb 2015) 11.040p/kWh – please check your supplier!

DOGE Coin (Hash Rate: 700KH/s, Difficulty: 1305) = $11.6 (£7) / day
Monthly Profit: £214
Bitcoin Exchange (International Money Transfer): $50 (£30) / transaction

Mining Income (first month): £184 / month

  • 1st Month: – £750 – £40 + £184 = – £606
  • 2nd Month: – £606 – £40 + £147= – £499
  • 3rd Month: – £499 – £40 + £118 = – £421
  • 4th Month: – £421 – £40 + £94 = – £367
  • 5th  Month: – £367 – £40+ £75 = – £332
  • 6th Month: – £332 – £40 + £68 = – £304

I have a lot of coins, what next?

  1. Find a Coin Market that allows you to buy/sell your coin i.e. DOGE.
    Cryptocurrency Exchanges / Markets List: CryptoCoin Charts
  2. Sell your coin and buy Bitcoin (i.e. Cryptsy)
  3. Convert money in Bitcoin (BTC) to US Dollars (USD) or other currencies (i.e. Mt.Gox)

Final Thoughts

“He who hesitates is lost.”

Please feel free to leave your comments below!

Author: Marcin Grygiel (First Ever)

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Windows Defender vs MSE on Windows 8.1

Microsoft Windows 8.1 comes with Anti-Malware protection which is Windows Defender. It is replacement for Microsoft Security Essentials and it will protects same way as Microsoft Security Essentials. Can we believe Microsoft?

Defender vs MSE

You can find this information on Microsoft’s site.

“In Windows 8.1 and Windows RT 8.1, Windows Defender provides the same level of protection against malware as Microsoft Security Essentials. You can’t use Microsoft Security Essentials with Windows 8 and Windows RT, but you don’t need to — Windows Defender is already included and ready to go.”

Question: Does it really provides the same level of protection?

Defender vs MSE Comparison

Answer: No, Windows Defender has the outdated virus definition!

 

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Browser Wars 2013 Part 1 (January)

Browser Wars is a metaphorical term that refers to competitions for dominance in usage share in the web browser marketplace. The term is often used to denote two specific rivalries: the competition that saw Microsoft’s Internet Explorer replace Netscape’s Navigator as the dominant browser during the late 1990’s and the erosion of Internet Explorer’s market share since 2003 by a collection of emerging browsers including Mozilla Firefox, Google Chrome, Safari, and Opera.

Browser Wars 2013 Part 1 (January)

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The World’s Best GPU Overclocking Tools 2012

Overclocking is the process of making a computer or component operate faster than the specified clock frequency by the manufacturer. Graphics cards can be overclocked. There are utilities to achieve this, find out which one is the best!

Graphics Card Overclocking Tools

  • AMD Overdrive
  • ASUS GPU Tweak
  • EVGA Precision X
  • MSI Afterburner
  • Gainward EXPERTool
  • Galaxy / KFA2 XtremeTuner HD
  • Galaxy XtremeTuner Plus
  • Gigabyte OC Guru II
  • Sapphire TriXX OC Utility
  • ZOTAC FireStorm
  • Palit ThunderMaster

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History of Microsoft Antivirus Software

Free malware protection tool Microsoft Security Essentials has become one of the world’s most popular security package but the story of Microsoft antivirus software goes back to 2003. Learn about the history of antivirus software and get ready for a surprise, First Ever Exclusive – a new security application from Microsoft!

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ReFS vs NTFS Benchmark

ReFS (Resilient File System, originally codenamed Protogon) is a new file system initially intended for file servers that improves on NTFS in Windows Server 2012. The project originally started out as Monolithic NTFS (MNTFS) and then ended up codenamed Protogon before the final ReFS naming was chosen.

Microsoft claims ReFS has been built from the ground up, to meet the demands of the storage requirements needed by Windows users. It offers the ability to handle large storage volumes (maximum volume size of 1 Yobibyte), shared storage pools across multiple machines and enhanced resiliency to corruption.

Surendra Verma, the development manager for the Storage and File System team wrote:

“ReFS inherits the features and semantics from NTFS including BitLocker encryption, access-control lists for security, USN journal, change notifications, symbolic links, junction points, mount points, reparse points, volume snapshots, file IDs, and oplocks.”

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