Category: crypto mining

I was referred to Powerhouse Mining by one of my Wealthy Affiliate friends. The WHOIS results tell me nothing, but the domain was registered from July 7th this year (which isn’t a long time!!).

They don’t give away free hash power which actually is a positive thing. I’ve invested some Bitcoin into it and I’ve chosen ALTCOIN mining to start with but I will diversify in the future.

Shockingly I’ve updated this post since I wrote it. Make sure you are sitting down. But this actually looks genuine. There are quite a few people on Youtube showing investments into this. I have to admit to really swinging from “what the hell is this?” to being satisfied that it’s worth testing out.

Although the site design is pretty unprofessional in its looks the systems behind it seem solid and the openness of the owners to be on live video feeds is reassuring.

Here’s just one video I found on youtube.

Darren has even made his Facebook public plus there is a very active Facebook group.

They are using a combination of bulk buying from cloud companies and their own mining rigs, which is fine, so they have a scalable capacity.

I think the honesty and openness of the videos compared to the scams I’ve seen is very reassuring. So I’ll see how it goes, but as always, BUYER BEWARE. Make your own evaluations! If you invest, do it at your own risk. But at least with this, you can talk to the people running it through Facebook.

There is talk as well of trading investment plans as well in the videos which will be very very interesting.

I have to say it I’m quite excited about this one! BUT invest AT YOUR OWN RISK and do your OWN DUE DILIGENCE. only invest what you can afford to lose.

Update 27th October

The site is offline at the moment as explained in THIS video.

I’ll post an update again when it’s back online! 🙂 If you want to be notified just like our FACEBOOK PAGE and you’ll get notified.

Power house back online! With a new look! 🙂

 

 

It is so rare to discover something I’m actually excited about. With cryptocurrency, it is SO easy to get scammed. Even things that look legitimate turn out to be scams. I’m getting pretty good at spotting them being that I’ve been doing it for a few years.

I watched the Powerhouse Network Update on youtube last night. Which was very exciting, it was good to see the whole panel discussing the future of the network.

It’s early days yet. I’ve made a small investment of $30 and showing $1.02 profit. Some of this from referrals but mostly from mining altcoins. Note this is more profitable than mining Bitcoins. So if you’re starting with a small investment that’s where to start because it’s more difficult to mine Bitcoins than Altcoins.

They are introducing mid-November or so the Trading Tree which looks very exciting but as I don’t have any more information about that apart from what is in the youtube video.

I will definitely be making a larger investment with Powerhouse.

I do suggest visiting the Facebook Page.

There are also quite a number of videos on Youtube.

So to join Powerhouse.

PLEASE REMEMBER YOU INVEST AT YOUR OWN RISK.

So thanks to Mark who invited me to look at this. It seems strangely familiar.

The domain was bought a year ago from Verisign, but the site has not been up long.

Creation Date: 2016-10-02T16:33:09Z

Ok – Warning bells:-

a. – Genesis and Powerhouse do not give away Free Hashpower.
b. -There is no company address or anything more than a website – they don’t even bother having a UK Limited company (which normally tells me it’s dodgy).
c. – There are no terms and conditions or about us.

I can almost guarantee this is a scam site. Just because they are so backward at coming forward. I’m always nervous of faceless websites.

I think with this one I’m not going to invest at the moment. I’ve got my free Hashpower and I’ll see if I can’t withdraw a small amount.

If it’s still here in a year, that might be more interesting. But when people don’t want to reveal who they are it’s a no. The site FEELS like Splititminng which had so many fooled, including me.

Mining is nothing but the process of solving blocks or complex mathematical problems by making use of computing powers from specialized mining devices. In mining, user transactions are verified and then added to a blockchain which works like a public ledger. Rewards are given to the miners who have successfully solved the problems and these are the crypto coins. While in the case of Bitcoin, rewards will be in the form of Bitcoins, in Ethereum mining, rewards are in the form of Ether coins. To know whether it is actually profitable to mine Ethereum, it is advisable to check the Ethereum mining profitability beforehand. This is possible when you use online mining profitability calculators.

How is Ethereum mining different compared to Bitcoin mining?

When there was an unprecedented spike in prices of Bitcoin, more and more people started mining this cryptocurrency. But, when they had mined for some time, it was realized that the mining processes had become sluggish and mining hardware required high-end maintenance and lots of electricity. So, the miners were keen to explore alternatives and this is how Ethereum mining came to be.

One of the key differences between Ethereum mining and Bitcoin mining lies in the fact that Bitcoin mining can be done with specialized hardware but Ethereum mining is done using GPUs. The Ethereum network is ASIC resistant and users are therefore not able to use dedicated hardware like in the case of Bitcoins. just like those having higher investment powers can produce superior mining rigs for mining the Bitcoin, similarly those having high-end GPUs can easily install a far more powerful mining rig. It is also possible to mine Ether using traditional CPUs. But this is not too productive and this is why mining with GPUs became more popular.

Ethereum mining is popular as it does not need very high-end costly devices and hardware which can burn a hole in your pocket. In short, Ethereum mining may be practiced at home as well and the energy demands for this mining are found to be lower than that of Bitcoin. Since it is easier to mine Ether, profits are also higher. While you may be expected to make some initial investments, these are much lesser when compared to investments for Bitcoin mining.

To know Ethereum mining profitability, you will need to use online mining calculators. You can enter different inputs in these online tools like hash rates, power consumption costs, hardware expenses, cooling costs, the current Ethereum price, mining difficulty levels etc. For mining, you will need to get specialized Ethereum mining hardware and software, an Ethereum wallet and Ethereum mining pools.

Finding out about Ethereum Mining Profitability:

The Ethereum mining calculator refers to a simple calculating device which can help you understand whether mining Ethereum will generate profit for you or not. It will tell you how many others you can generate through mining using specific hardware. For getting accurate results, you will have to consider electricity costs in the area were the mining rig is installed and the configurations of your mining rig.

It is important to understand that cryptocurrency mining is never an easy decision because miners must take into account all kinds of risks in it before they start out. With mining calculators easily available these days, it is possible for miners to verify the profitability of any cryptocurrency to make plans in advance. While the calculator is undoubtedly an excellent resource for the new miners in the business, it is equally useful for those who are already mining Ethereum. Since cryptocurrencies are dynamic by nature and many factors are constantly changing, like difficulty levels and current market prices, it is necessary to monitor Ethereum mining profitability all the time.

A key factor which can change your fortunes is the Ethereum price. Ethereum is considered to be the second largest cryptocurrency in the world but is prone to market volatility. It seems to be slightly more stable as compared to the Bitcoin which witnesses sharp rises and falls in its price. So, for those who are just starting out in the cryptocurrency mining business, it is crucial to know about this price volatility. When the demands rise for Ether, prices go up and when demands are low, prices automatically fall. But, unlike Bitcoins, Ethereum is not limited in number. This is perhaps why this cryptocurrency is more stable than the Bitcoin.

Among the factors which influence mining profitability of Ether the more common ones are prices of Ether in the market. The higher these prices, the better the profits you can make and when the prices fall, the profits are also lower. Costs of mining hardware will also influence the profitability. Mining is an expensive task and it needs high-end machinery which can cost you a fortune. Besides, power costs must also be taken into account to determine profitability. In mining, a lot of electricity is consumed and this is why countries which can offer low-cost power supplies are attracting miners.

 

I have confirmation that Powerhouse Network is Paying!!! Not only that my small account has been earning. I have someone who has just received 0.02 BTC or so out in a payout. There is a lot of excitement about this one – but it is an investment site. You want to put in a good amount of BTC.

There are quite a few developments on the way, and I love the way the owners are constantly on video talking about the progress. Now, ok we had that with others that turned out to be a scam. However, this one is GENUINELY based in the UK.

So I’m happy with this as one of my BTC/Altcoin mines, at the moment I’m mining Altcoins with it.

Ok, I’m involved a  few things as you know. I test stuff for you, a lot of it turns out to be a scam.

Powerhouse is refreshingly different thanks to the fact you can actually talk to the people running it. They are not hiding behind a website, or some strange address but are actually contactable.

I will say this so. The look and feel of their marketing is nothing like as professional as the scammers. But maybe that’s a good thing.

So today people who are members of the network get the chance to be part of the ICO. So not only do you get the chance to Mine Bitcoin, Altcoin and Ether (although there are no Ether contracts available), but you also can partake in the Polaris ICO.

I really do recommend everyone joins and puts in a small amount to get started and see how it goes. Remember your investment is your responsibility but the more I look at Powerhouse, the happier I am with it. So I would recommend people to try this one out – don’t forget to actually invest some coin because they don’t have anything for FREE which actually gives me a lot of confidence.

This morning there are reports people are buying PowerHouse’s Polaris coin like wild things. Even last night there were commitments to purchase thousands of the Polaris coin.

Powerhouse network includes a mining farm with Altcoins, Bitcoin and Etherium, a referral system and an excellent support network through their Facebook page.

I hate to say this, but I’m actually excited about this one – and that takes a lot, 99% of the things I test for this site are scams, without fail. So when you find a 1% that’s great.

“Nothing is Free”

With PowerHouse, they do not give out anything for free, like Genesis Mining that has been around a long time. If you give away free mining hashpower it has to reduce the amount of profit given to those who actually pay, as the capital cost is higher, especially since there are a whole lot of people out there who think that 100GH will make them a fortune. You need more like 10,000 GH if mining Bitcoin.

Only have a small investment?

I suggest if you only have a small investment to go for a split with Altcoins ($2.50 a share) and ICO coin, then when you get paid in commissions, re-invest it back into your account to get more shares in the farm, note that you can also invite others and Powerhouse will pay a commission to you.

Just to quote an excerpt from the proposal document:-

So what that means basically is that let’s say you joined today and bought 100 coins. That’s going to cost you $20.00 (0.2 x 100) when it finishes it will be worth $0.5 (i.e. when they stop producing more tokens). So your $20 is now worth $50.00. Quite a tidy profit – but that’s not all, don’t forget that once the tokens are all created the price will rise with demand because there are no new tokens coming along. So what I like here is that you can do Bitcoin Mining/Altcoin Mining and take part in the Polaris coin.

Here’s the full white paper! Enjoy: Polaris Whitepaper final copy

What not a lot of people know is that Bitcoin mining on any kind of scale takes power, electricity. China in its efforts to quash Bitcoin which have so far not been that successful has now said that banks can regulate the amount of power that Bitcoin miners can use. In fact, banks cannot regulate it but they can put pressure on local authorities to regulate the power (we may freeze your bank account if you don’t stop the Miners).

So what is China afraid of? Well, the same thing the Austrailian banks are afraid of. Losing control of trade. Can you imagine a world where anyone, anywhere could simply and at low-cost trade? That is part of the vision of Bitcoin. To remove money from banks and authorities, take it out of a structure of debt and interest. So it’s no wonder the banks and governments quake in their boots when they finally realise what they are dealing with.

In a way, it would be better to propagate the myth that Bitcoin doesn’t exist, or is just a bubble, or is not a threat. Then they would leave us alone to mine and build cryptocurrency to the point where it cannot be stopped, I wonder if it’s too late for that already.

I have seen Solar powered Bitcoin mines and maybe China is the ideal place for this. If we can power our mining without needing power from the authorities, there is very little they can do about the mining we are doing.

Of course, the ideal place to build a mine is in a power station. As I heard a wise Ethiopian once say “if you want to hide a tree, put it in a forest”. Put it like this – if everyone just mined a little bit then no one would ever know. Centralising bitcoin mining is generally a bad plan because it puts too much power into one branch of the network. However, rest assured that to have enough power to control the network, you would need about half the world’s computing power.

Bitcoin mining is about mathematical problems and freedom. Long live Bitcoin.

(image with thanks to The Digital Artist)

Recently my L3 has been performing incredibly well on mining rig rentals so I have been looking to the GPU side of my operation a little bit more. Currently I sold all my GPU rigs and I am left with two GTX 1070 to mine with. Alot of people use Nicehash as its very very simply but with Nicehash you aren’t always making the most of those GPU’s and getting a possibly more BTC

So the alternatives….

Firstly I looked into Awesome miner. I already use Awesome miner to monitor my L3 so it was really easy to set it up. I created a profit miner for my GTX 1070 and selected the algorithms I wanted to mine and entered my BTC address for payout. Then it was a simple case of right clicking the profit miner and start.

Now my only issue with Awesome miner is the payout in Dollars is a little optimistic at least, its always incredibly high and its very unlikely you will see a return on that scale. Secondly I probably wouldn’t use Blockmasters as a pool if you only have 1-2 cards as the payout is extremely high. Other than that once you get your head around the many menus within Awesome miner its a great program which can monitor your rigs with ease

Check out Awesome Miner Here

Next I still wasn’t 100% with Awesome miner, mainly because it was the free version and I wanted a bit more freedom without paying. So I done some more research and found another program which is 100% free and claims to get more profit than Awesome Miner

NemosMiner is based on MPH miner which I did not really get on with but Nemos is much easier thanks to its friendly config setup. Once you have downloaded and unzipped Nemos miner you will be presented with an interface, ok its not as pretty as Awesome Miner but it does the job.

Once you have gone into config entered your BTC address and selected the pools you wish to mine at its simply a case of hitting the start button. Once started every 120 seconds it will check to make sure you are mining the most profitable algo across multiple pools. I have to say I have found this to be my most profitable program that I have used, it may not be as simple as Awesome miner but it is worth the setting up

You can download Nemos Miner from the official Github

Dont forget if you want to be really really lazy and looking for something which is the most simple then I would probably stick to Nicehash