Lately large altcoin “pump and dump” groups have gained popularity. John McAfee has even been accused of giving pump signals via his Twitter! Discord pumping groups are very popular and invites are found all over Bitcointalk.org, crypto-related subreddits, and other forums are full of pump group Discord invites. Its a good idea to avoid participating in these since once you receive a “signal” the pump orchestrators have already set their sell orders. Most of these invites are sent out by people getting affiliate benefits in the group based on how many people they refer to the pump group (earlier access to signals). At best you may succeed occasionally but really you are just pumping up the price for the people running the pump so its best to avoid these.
Which GPU chipset manufacturer is better for 2018? It still depends on what you are mining. For Ethereum mining AMD is still the preferred GPU chipset. NVIDIA is better in terms of per watt efficiency and does better at a variety of algorithms. Since there are a lot of algorithms besides Ethash which are profitable NVIDIA tends to pull ahead. For most new mining rigs NVIDIA is preferable with the 1070/1070Ti/1080Ti being the best for density.
The best way to compare various GPU’s is to visit What To Mine. By toggling between the various GPU chipsets you can get a pretty good idea of power usage and hashrate for a variety of GPUs. The site offers other data such as live coin profitability calculations as well. It is useful but be aware many people use it so some of the best coins to mine will be ones that are not listed there.
GPU mining with an out-of-the-box solution such as NiceHash or MinerGate is the easiest way to get into cryptocurrency mining. Prior to the recent hack NiceHash was a great solution for easy cryptocurrency mining but since they are down while they fix their systems we now recommend MinerGate. You can obtain the same run-and-done functionality from MinerGate with few caveats.
The primary difference between the two services is the payout cryptocurrency. NiceHash would pay out directly in Bitcoin while MinerGate pays out in the cryptocurrencies that you mine. The only issue this presents is a need for an exchange to convert the cryptocurrencies to Bitcoin. If you want to keep your cryptocurrencies in a diverse portfolio then you might not mind this. We recommend Binance as an exchange due to its broad range of offered cryptocurrencies. Its free to open an account and a great altcoin exchange.
MinerGate also offers Cloud Mining solutions but since you must pay in cryptocurrencies we do not recommend using their cloud mining services. Rule #2 of our cloud mining tips article suggests that you do not buy hashrate with cryptocurrency (paying in cryptocurrency to mine cryptocurrency can be a mistake- pay with fiat). Be aware that during installation your anti-virus or anti-malware software will give you a warning but this is due to the fact you are installing mining software and some newer malware mines cryptocurrency for its owners. MinerGate is generally regarded as safe to install within the cryptocurrency community.
Bitcoin.com Presents Itself Nicely
But did you know it was claimed to be owned by failed entrepreneur (or far, far, worse depending on who you ask) crypto-thug Homero Josh Garza? I would have just called him Homer because his crypto-scam exploits hurt a young community with his buffoonish attempts at scamming people (in a business where you could have made far more money NOT scamming them- what a ‘tard).
At one time the criminal mastermind (LOL appropriate) of GAW Mining he now is making monthly payments on a $12 million dollar Securities and Exchange Commission securities fraud penalty. The less than venerable man is also purported to be the owner of a frail and aging ISP system somewhere in the northeast (probably got FCC problems too). Josh Homero Garza was a verifiable crypto-scammer who once ran the hilariously named “Geniuses at Work” faux-cloud-mining consortium. Simply Google this for the full drama but it was worth a few LOLs to mention the association since Bitcoin.com covered his SEC securities fraud fine.
Long story short he over sold hash-rate compared to what he actually owned. SEC fined him $12 million US dollars and he’s probably still hiding out somewhere. Check it out on the domain he once claimed to own.
Folding Coin: The Innovative Intersection of Distributed Computing and Cryptocurrency
Proof-of-work cryptocurrencies are often criticized for wastefulness since they use a massive amount of computing power to secure the network thus “wasting” electricity. A next generation reward system for distributed computing has come forth in Folding Coin.
Folding Coin is rewarded by a point system based on how much distributed computing power you have donated to the project. You may compute for any of the various protein folding projects under the Folding@Home umbrella. It is easy to install and a simple way to distribute a cryptocurrency for a positive use of electrical energy. Instead of just hashes you are producing viable data for Stanford.