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Start your Litecoin miner in 10 steps

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Very easy 10 steps to getting started with Litecoin Mining and setting up your Litecoin Miner, set up easily and start mining litecoins today

Getting started with Litecoin Mining and setting up your Litecoin Miner

If you think you are too late to join the Bitcoin bandwagon and get mining and reap herculean profits out of it, maybe you could look at alternatives and learn and decide to mine Litecoins. So if you have made your research and done your understanding and are looking to mine coins without having to invest in heavy ASIC machinery, Litecoins is actually your best choice right now.

That being said, it is important for you to follow the steps mentioned here closely and check off all the requirements so as to successfully mine Litecoins.

 

Step 1 : Do your research

When it comes to your money and making investments using your money, always remember to never go into something like this without doing your research and properly educating yourself.  Go through numerous articles and tutorials available online to learn about the entire Litecoin platform and how it works.

 

Step 2 : Obtain a wallet

Obviously, you would need a place to securely hold your hard earned Litecoins once you’ve mined them. This is a step that would be required later after the mining but we are already making sure we have our hands on it. A Litecoin wallet serves just this purpose. The Litecoin Core wallet is a kind of the ‘official’ digital wallet for Litecoins. There are a wide variety of options available in this matter from mobile apps to web based platforms. Airbitz, Blockchain, Freewallet, My Celium Wallet are a few of the most popular and reliable mobile apps to create your digital wallets on. The Ledger Nano, Jaxx, Exodus, Coinomi, LoafWallet, and LiteAddress wallets are several other options available to users.

For those people who want to go for something different and try a web based platform, Coinbase, Circle, Blockchain, Strongcoin, Xapo are a few of your best options. Enable two factor authentication on your wallets since your wallet is now your most prized possession. Always prepare a backup for your wallet which no one can reach or access. Do not share your private key with anyone no matter what.

 

Step 3 : Researching about miners

Once your wallet is set, you need to go ahead and turn the Internet upside down to look into several options available and then choose a Litecoin miner hardware that best serves your purpose and need. Read about what all you already have, like graphic cards etc and what all you would need to purchase additionally. Make a list of all these requirements and then set forth to buying them.

 

Step 4 : Get your hands on some cool graphic cards

For effective mining process to undergo, try and get your hands on some awesome graphic cards that would make your life much much much easier. The Nvidia GTX 1070 is a great graphic card to be used for mining hardwares too. With a high hash rate of 30mh/s, it offers a Core Clock of 1,506MHz, a memory of 8GB GDDR5, a memory clock of 8Gbps and a power draw of 150W. This is a great option for people considering mining as a long term investment plan.

The AMD Radeon RX Vega 56 is another very popular option when one is looking for a high performance graphic card offering high hashing rates. It has a core clock of about 1,156MHz and an even impressive memory of 8GB HBM2, memory clock of 800MHz and power draw of 210W, it is cheaper to boot but runs a little hot.

 

Step 5 : Choose your Litecoin miner

One of the most powerful and maybe the best choice to go for with respect to your Litecoin miner is the ANTMINER L3+. The L3+ Scrypt miner enables mining of not just Bitcoins but Litecoins too. It has a hash rate of ~504 MH/s and does not eat up a lot of electricity which gives you some relief from that point of consideration. Weighing just 6.5 kgs it is very lightweight and also very cost effective even in terms of shipping.

 

Step 6 : Join a mining pool

Do you have any idea how much more easier your life would get if you join a mining pool? You might want to feel a little adventurous and want to do it all on your own but get yourself involved in a mining pool, seriously. Mining alone can be quite a tedious process and you would have to wait long hours to get a block of transactions confirmed. The most popular and much used sites for this purpose are the Bitminter, Kano Pool, Eligius, Slushpool. You can easily pool together your computing power with other miners and help out everyone while making your life easier too.

 

Step 7 : Check mining profitability

Would it not be great to already predict the outcome of something and make sure that every step you take would only help you make profits? That might take the thrill out of the entire thing but what use is thrill when you are constantly losing a huge amount of money and just making yourself more and more broke? That being said, learn how to use a Litecoin mining profitability calculator and keep track of all their profits and realise that if they are not making a profit, they should change their investment schemes.

 

Step 8 : Get a power supply

Of course you know mining is an energy consuming process and so it is important for you to get a power supply which is not just cost effective but also compatible with you miner.

 

Step 9 : Start mining

Finally, fire up your miner by connecting it to the power supply. There would be a user manual that came with your miner. Just give it a thorough reading and it would help you set it up. Integrate your miner and your mining software. Find your IP address on the admin page of your network router. Type this IP address in the your web browser. Look at the ‘connected devices’ on the admin page, find the name of your miner (mining hardware), and select it. This action should display the IP address of your miner. Copy and paste this address into your web browser. This opens the admin page of your miner, log into it using your credentials which are generally printed in the users manual of the miner. Immediately click on ‘Miner Configuration’ and type the URL address, username and password of the mining pool you selected for yourself earlier. Click ‘Save/Apply’. And you are done.

 

Step 10 : Two factor authentication

In addition to securing a wallet, one must learn to secure them furthermore. There is never something as too much security and more and more layers of security for your wallet would only keep you safe and secure so as to not get conned and lose all your hard earned Litecoins. The one step to take in this direction is to enable two factor authentication. This was, in addition to entering your credentials to access you account, you would also be required to enter and additional code which is sent that very moment to your mobile number. This is similar to the when one enters an OTP to make online credit and debit transactions.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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