Items tagged with cryptocurrency

What is a blockchain? When considering cryptocurrencies like Bitcoin or Ethereum, it's best to first understand the underlying technology and framework that makes their existence possible. At its core, a blockchain is a what is described as a "shared ledger" technology that is used to record the complete history of transactions that have been made. More importantly, this ledger cannot be altered in any way, making it ideal for historical analysis and peer review. When it comes to everyday transactions -- be they financial, inventory or even account-based, traditionally, each party that is involved... Read more...
Bitcoin is living up to its billing as a volatile currency. It was a big deal last month when Bitcoin first flirted with a $2,900 valuation. Just a couple of weeks later, it jumped past the $4,000 mark, setting yet another new high in the process. More recently, Bitcoin has hit a rough patch, causing its value to fall as low as $2,915.15, its lowest level since it surge in early August.Cryptocurrency investors seemingly panicked in the wake of negative news this week. It started with JPMorgan Chase CEO Jamie Dimon calling cryptocurrencies like Bitcoin a fraud. Speaking at the Delivering Alpha conference,... Read more...
Update, 9/15/2017: We've updated our Ethereum mining benchmark numbers in this article to include AMD's recently released Radeon RX Vega graphics cards. Head here for that updated data or journey on for the full guide. Cryptocurrency mining is a big buzz topic in technology these days. And why not? Utilizing your computer to digitally mine what seems like free money only begs the question, "where do I sign up?" Your machine will actually be "mining" or processing transactions for a decentralized currency, the hottest variant of which is called Ethereum.  Poised to overtake the industry... Read more...
Just a day after JPMorgan Chase CEO Jamie Dimon unleashed a fury of attacks on Bitcoin (and cryptocurrencies in general), another salvo is incoming. It was reported last week by Caixin that China was contemplating shutting down cryptocurrency exchange trading, and further confirmation of that order arrived today. The news sent Bitcoin into another tailspin, extending its losses for a fifth straight day, its longest losing streak in over a year. BTC China, the second largest exchange in China, announced that as to today, it will no longer accept new user registrations. It also announced that the... Read more...
There has been a run on cryptocurrencies in the past year or so, especially when it comes to Bitcoin and Ethereum. The latter has especially been popular, with enthusiasts quickly gobbling up high-performance NVIDIA and AMD GPUs to bolster their mining efforts. While many enthusiasts and even some well-respected financial institutions have flocked to cryptocurrencies, one high-profile executive takes the stance of "Just Say No", to quote the late Nancy Reagan. JPMorgan Chase CEO Jamie Dimon isn't just down on cryptocurrencies like Bitcoin; he thinks that they are a fraud, plain and simple. JPMorgan... Read more...
There is some big money to be made in cryptocurrency mining, assuming the operation is large enough. That is especially true when the value of volatile digital currencies such as Bitcoin and Ethereum skyrocket, as both have done in recent times. Unfortunately, there are some undesirable side effects to the cryptocurrency boom—we all know about the shortage of graphics cards, but even more troubling is that some mining groups are exploiting PCs with malware for more firepower. The situation is getting worse, according to Russian antivirus vendor Kaspersky Labs. A new report by Kaspersky claims that... Read more...
NVIDIA’s GeForce GTX 10 Series and AMD’s Polaris family of Radeon GPUs have been popular with Ethereum miners since the start of 2017. Many of these cards have been in short supply, and the GPU market actually showed an uncharacteristic uptick in growth during Q2 because of this demand. With that in mind, all eyes are currently on AMD with its new Radeon RX Vega family of GPUs. We’ve already seen that the Vega 64 (and the Vega 56 in particular) excel at Ethereum mining once optimized. One redditor, however, has taken his optimizations to the extreme, allowing his Vega 64 to obtain a hash rate of... Read more...
ASUS is releasing a motherboard with 19 PCI-Express expansion slots, and no, it is not intended for gamers who want to play Crysis (or any other title). This one is aimed directly at digital coin miners as the cryptocurrency craze rages one. Like the California gold rush that lasted from 1848 to 1855, this cryptocurrency boom has modern day miners going out in search of riches, and more tools are being made available specifically for that purpose.Cryptocurrency mining is red hot at the moment. Two of the most popular cryptocurrencies are Bitcoin and Ethereum, both of which are trading at obscenely... Read more...
Ethereum (ETH) has risen to become hugely popular in the cryptocurrency world over a relatively short period of time. After first appearing on the radar screens of miners earlier this year, with valuations surpassing the $400 mark in June, ETH pricing is now hovering around $300. Mining enthusiasts have built their own dedicated machines for mining Ether, with many choosing mid-range NVIDIA and AMD hardware to get the most bang for the buck and performance-per-watt. As we mentioned in our Ethereum Mining Optimization Guide, we found that the NVIDIA GeForce GTX 1070 offers a relatively high hash... Read more...
The life of a cryptocurrency miner is fast and furious, especially if that person is mining Bitcoin, the most popular digital currency in existence. Consider that it was just two months when Bitcoin hit the $3,000 mark for the first time since it was introduced in 2009. Now just eight weeks later it is trading at around $4,300, hitting a new all-time high after activating a plan to speed up transaction times. Without getting into the somewhat complicated nitty-gritty details of cryptocurrency and the mining process, the relevant bit of info here is that Bitcoin recently split into two directions,... Read more...
It has been a rough month for Ethereum. After tasting sweet highs in June and surging past $400, the cryptocurrency tanked during the month of July to the $130 mark. However, Ethereum has been on the rebound for the past few weeks. That recovery was even more apparent this morning, when it surpassed the $300 mark, if only for a brief moment. According to EthereumPrice, Ethereum hit a high of $314 earlier this morning before settling down to its current valuation of $290. That’s still a stone’s throw away from $300, but if the current rising trend continues, we may see Ethereum cruise back towards... Read more...
There is a cryptocurrency war brewing in Bitcoin land. On Tuesday, Bitcoin forked, leaving us with the original Bitcoin (BTC) and Bitcoin Cash (BCH). During its first week of trading, Bitcoin Cash has been on a wild rollercoaster ride when it comes its valuation. On Wednesday, just one day after its trading debut, Bitcoin Cash was riding high with a price of $756 (at its intra-day high). However, the past few days have seen Bitcoin Cash tumble, falling to just $289 today in afternoon trading. This is hovering near an all-time low for the cryptocurrency. Bitcoin Cash has also been rocked by the... Read more...
It is a tough time to be a gamer in need of a graphics card upgrade. There are some excellent options for gaming on the PC, but with the cryptocurrency gold rush that has taken place over the past several months, it can be difficult to (A) find certain graphics in stock and (B) not pay an inflated price for one. Digital coin miners have created a shortage, and if AMD's Radeon RX Vega 64 proves to be a mining power house as rumored, we could be looking at a similar situation for many months to come. One of the staff members at OCUK claims the hash rate on "Vega" is 70-100 million hashes per second... Read more...
The hackers behind the WannaCry ransomware that became an overnight global scare did not strike it rich over their nefarious deeds, though they did make around $143,000 after cashing out all of the Bitcoin payments made by victims. Had it not been for the quick response of security researchers, and one in particular who accidentally discovered a kill switch of sorts, they might have made much more. Elliptic, a London-based start-up that aids law enforcement with tracking down cybercriminals that use Bitcoin, confirmed that the WannaCry withdrew 52.2 BTC from online wallets this week. Bitcoin currency... Read more...
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