Get 3% off your genesis mining order with our promo code ylJOBH

Genesis Mining is the best cloud mining company with discount and promo codes available for every hash you purchase. Use our working discount code ylJOBH and get 3% off your purchase order. It is the highest possible discount code available provided by Genesis Mining.

Zcash mining is live!

The Zcash protocol was successfully launched on October 28th at 16:20 UTC.Please note that due to the slow mining period implemented in the currency protocol, your Zcash payouts will be lower over approximately 34 days, in which the block reward rises gradually from 0 to 12.5 ZEC until it reaches the 20,000th block.

Zcash Update!

We’re glad to announce that our work on the Zcash mining software is successful and we have increased the Zcash hashpower of every user that obtained a contract before 15th November 2016 11:00 UTC for 30 percent. We’ve also updated the contract pricing respectively!

Genesis Mining is the best hash power provider.

You are able to mine Bitcoin and various altcoins. As of June 2016, we provide the following coins:

For SHA256 we offer: Bitcoin, Unobtanium, Bitcoin, Dark, Litecoin, Dash, Zetacoin and Darkcoin.

For X11 we offer: Dash, Startcoin, Bitcoin, Litecoin, Dogecoin, Bitcoin Dark, Peercoin and Namecoin.

For Ethereum we offer: Ether and Bitcoin

We add new coins to this list from time to time.

A special feature is the “Genesis Mining Advanced Autotrader”:
For example, it allows you to get the payouts in BTC while mining with a X11 algorithm! This is possible by automatically mining the most profitable X11 altcoins which are then automatically exchanged by our algorithmic trading framework to BTC. This is a very cost efficient way of mining different coins. We call it “mining BTC the smart way”.

The same technique is also used to mine LTC with a SHA256 contract.

. Allocate your coins and make profit from all different types of currencies. Get paid daily for your genesis mining hash power.

You can use our discount code ylJOBH
and get 3% off your hashpower order.

Pre-Sale Bitcoin Contracts Deployed!

Bitcoin Contract Mining Start!


Dear miner,

Last year you have purchased an open-ended Bitcoin Mining contract with the scheduled mining start for 28th of February 2018 in our Pre-Sale.

We’re glad to tell you that all machines have been deployed and the Bitcoin mining starts as scheduled! Please notice that every mining day will be processed and paid in the following 24 hours, so you will see your very first payout on March 1st 2018 (If your payout is reaching the current minimum payout threshold of 0.005 BTC).

Please make sure you’ve added a valid Bitcoin wallet address to your account via ‘My Account > Settings > Wallets’. Your payouts will then be visible on the ‘Payouts’ section.

Hint: You can use the ‘Mining Allocation’ to distribute your hashpower between various cryptocurrencies. For example, we’ve recently added Bitcoin Gold (BTG) and Bitcoin Cash (BCH) to the Bitcoin mining allocation as auto trading options. We’re continuing to add new auto trading options as well as native minable cryptocurrencies for each algorithm.

If you should have additional questions, please refer to our Customer Service page.


Genesis Mining office

Genesis Mining Ltd.
Chinachem Century Tower, 31/F,
178 Gloucester Road, Wanchai
Hong Kong


Genesis Mining Iceland ehf.

Registered address:
Borgartuni 27
105 Reykjavik

Operational address

Sjonarholl 16
235 Reykjanesbaer

Sales Manager

For customers who want to make a purchase not contained in pricing packages contact executive sales manager directly.


Customer Service

Hours: 9:00 am – 5:00 pm (UTC)
Check out our Customer Service section

Thank you for choosing us and happy mining!



Join over 1,000,000 people with the world’s leading hashpower provider!

Disclaimer: Genesis Mining is offering to rent hardware to clients for mining purposes. Clients that only rent hardware under investment considerations are reminded to carefully assess the underlying risks of such an investment in hardware themselves.

Genesis Mining Hive

Genesis Hive is the propertitey technology used by genesis mining to montor the cloud mining captabilites of their servers. Genesis Hive keeps everyones mining mining hash power running at the highest efficiency possibly for mining. Genesis mining algothirthms automaticallyt select the best cryptocurrnecy to mine depending on the markets.

genesis mining hive in action

Genesis Mining is the best cloud mining solution for users wanting to earn money mining crypcurrencies such as Bitcoin(btc),Ethereum(ether),Darkcoin,Litecoin, and Dodgecoin.

Join Genesis Mining today with our discount promo code ylJOBH  and get 3% off your hashpower order.

Enigma ethereum mine

The worlds largest ethereum mine has successfully been built by genesis mining. You can now purchase hash rates mining contracts that last for 1 year. Your contract will give you hash power on the exclusive enigma ethereum network.

Ethereum is the first ‘world computer’. It is a decentralized network that can be used by anyone and is capable of running applications with no possibility of downtime, censorship or fraud.
It’s native currency, Ether is one of the fastest growing cryptocurrencies next to Bitcoin. Just a few months ago, the price was $1, then it shot up to $13 and today it has settled at just under $10. This rapid growth excited investors who were eager not to miss out on another hyper-growth investment opportunity.

While some choose to invest in Ethereum directly, many are turning to Cloud Mining to enter the market. Our Enigma Farm is a computation cluster built for exactly this venture. If you are as fascinated by the Ethereum project as we are and want to participate, head over to our website and become a part of the project!

3% Promo code ylJOBH for Genesis

Zcash Mining

The First Month of Zcash – A Summary

The first month of a new cryptocurrency is always the most exciting; prices spike, blocks are mined, money is made. The cryptocurrency that made the headlines last month was Zcash – a coin that promised the anonymous transactions Bitcoin could not deliver.

In its first week, Zcash momentarily became the world’s most valuable currency. The limited supply and massive demand caused prices to skyrocket, reaching a record high of 3,299 BTC per ZEC on Poloniex. It also became known as one of the most volatile, bouncing from $1453 USD/ZEC to $95 USD/ZEC in only the second week. It’s since shown some stability, hovering around 0.07 BTC (or $57 USD) per ZEC, as of December 5th.

Meanwhile, various exchanges rushed to add support for Zcash at launch, including ShapeShift and HitBTC, Jaxx – a multi-token blockchain wallet – and TREZOR – a hardware wallet.

It wasn’t all profit and excitement, though – Stefano Quintarelli of the Italian Parliament reported a proposed bill that would ban fully anonymous cryptocurrencies, including Zcash. It remains to be seen how the Italian Parliament will achieve a ban on cryptography (and mathematics) to accomplish this task.

There were a few technical difficulties which were fixed fast: there was a bug which caused private transactions (known as joinsplits) to not be mined; a bug which caused old nodes to follow an invalid chain; and a brief DDOS attack.

And then, there was media frenzy when whistleblower Edward Snowden tweeted about the possibility of tax protests, in the wake of the anonymous cryptocurrency; Zooko Wilcox acknowledged it.

New coins emerged. A fork of the Zerocoin protocol, Zclassic, announced a removal of the slow mining start and founders reward. Founder Zooko Wilcox showed his support on the official Zcash forums, approving the fork. A european group of ethical hackers followed up with their own fork, Ebitz. NAVcoin sought to tread down a similar path, promising anonymous transactions that utilized a second Blockchain called ‘the subchain’.

Peter Todd, one of the participants of Zcash’s “Trusted Setup Ceremony”, documented his adventures (Which included a road trip, and a roasted laptop.) – and the meticulous process of ensuring his secret key was destroyed, which included a road trip, and a roasted laptop. The ceremony was deemed ‘security theater’ by some, and a resounding success by others. Morgan Peck, of the IEEE (The Institute of Electrical and Electronics Engineers) reported his observation of the ceremony; other participants were revealed to be Derek Hinch, Peter Van Valkenburgh, Andrew Miller and Zooko Wilcox.

The 20,000th block was mined on the 1st of December, ending the slow start and awarding 12.5 ZEC per block. The Founders Rewards address was revealed; preparations have begun for distributing the rewards, though at the time of writing, no ZEC has been spent.

The Zcash Electric Coin Company launched the “Open Source Miner Challenge”, seeking to bridge the gap between private and public software. Marc Bevand, an ex-Google employee, took first place with his GPU miner, SilentArmy; newcomer xenoncat took first place for the CPU miner with his assembly language implementation. Runner up’s included Tromp; David Jaenson; and Pavel M.

In response, Genesis Mining has been hard at work, optimizing our own private miner to ensure our customers receive the most competitive rates. Since the launch of our Zcash contracts, we’ve upgraded our hashing power six times – with no intention of stopping anytime soon. We’re the leading hashpower provider, after all – and we intend to keep that title.

It’s been an interesting month for miners and investors, and we’re excited to see what waves Zcash, Ebitz, NAVcoin and other anonymous currencies will continue to make in the financial industry – and the world at large.

We’ll keep you posted with news as they emerge!


Today at 09:00 PDT the Zcash Genesis Block was mined by the Zcash team as soon as the blockchain went live, we rolled out the protocol on our mining hardware. So far everything is going smoothly. We’re also happy to confirm for everyone who pre-ordered a 12(+1) month Zcash contract before launch that your mining hardware is directly joining the network as we speak.

The launch of Zcash marks the beginning of a new cryptocurrency era: one of privacy, through zero-knowledge and transactional transparency. We’re working hard to ensure a smooth, seamless experience – while challenges may occur along the way, we’re confident we can ensure they’re resolved with minimal interruption to your mining.

On that note, we want to reiterate that Zcash will have a slow start. This was how Zcash was designed. Let’s take a look at the current mining schedule.

The slow mining start

The slow mining start spans over approximately 34 days, in which the block reward rises gradually from 0 to 12.5 ZEC until it reaches the 20,000th block. This means that on day one, there will be presumably only about 104 ZEC distributed in the global Zcash network.

Consequently, there’s only low supply to trade over the next few weeks so prices will be highly volatile. You can find more detailed information in the official blog post.

Your Zcash mining payouts

You are now able to provide your Zcash address in the Genesis Mining user-dashboard to receive payouts. Please make sure to use “t-addr” (transparent Zcash address), not the “z-addr” (zero-knowledge addresses). If you can’t or don’t want to provide an address in the dashboard yet, we will credit your ZEC balance until you do so. You can check the balance in the “orders” section in your dashboard.

The minimum amount for a ZEC payout is 0.002. If your payout amount is lower than this, coins will be balanced until your balance exceeds this threshold and then paid out in full. Should you use an address of an exchange, please be aware of eventual minimum deposit limits.

We’re trying our best to process the first mining rewards as soon as possible and are optimistic that we’ll already be able to do the first payout of mined ZEC within the next 24 hours. We will follow up with more information shortly.

We have been working hard to improve the efficiency of our Zcash mining algorithm, and we are happy to announce that we are upgrading your hashpower by 30% for the fourth time! After providing three previous upgrades (300%, 200%, 25%); altogether we have upgraded our efficiency for you by almost +1000% with the latest upgrade.


Zcash has had an exciting launch, and we have enjoyed helping all of you start mining from day one. We are continuing to evolve our service to provide you the most efficient mining experience while remaining the most affordable Zcash provider.


Zcash is still in the slow start period, which is free for everyone who got a contract before launch. We will keep you posted on when the transition is occurring with everything you need to know.


We’ve also updated the contract pricing respectively, as this upgrade is free!

Many of you asked for it so we have added our “Genesis Mining Advanced Autotrader” to Zcash mining! This means that you can now mine Zcash and choose to have the mined ZEC (AUTO)-exchanged into BTC or ETH for payout! To choose any of these options, please visit the Mining Allocation page and select Zcash.


Monero Mining

Let’s continue with the next coin in our Altcoin Report Series: Monero. But first some great news! You can start to auto-trading Monero with X11 mining contracts beginning today!

What is Monero?

Monero is an open-source cryptocurrency with a focus on user privacy and scalability. It was released in April 2014 and is currently gaining popularity because of the innovative way it handles transactions on the blockchain. It is among the most popular cryptocurrencies.

Its source code is not forked from the Bitcoin project, but rather a complete rewrite of a blockchain coin architecture with scalable blocksizes already implemented.


The protocol


Monero implements exciting new technology directly from the CryptoNote protocol implementation. The CryptoNote Whitepaper was released in fall of 2013 and focuses on transactional privacy. Transactions in Monero are processed through the use of cutting-edge cryptographic ring signatures, which are obfuscating the origin and size of the value being transferred by mixing in other transactions. This ensures that purchases, receipts, and other transfers remain private by default. As a result, it is extremely unlikely that a transaction could be linked to a particular user.

It is not possible to look up a Monero address balance on the blockchain. When a transaction is made a one-time address is derived from the Monero address and funds are sent to this address. The owner of the Monero address can control all his/her one time addresses at a later point in time.


Quote by moneromooo, Monero developer:

“Think of it this way. You have a large ground (the blockchain), with remote controlled cars (transactions) racing. There are people around the area, controlling the cars. But you don’t know who controls what car(s).”


Source: Wikipedia


Ring Confidential Transactions

An upcoming update to the Monero codebase from the Monero Research Lab is going to include a new feature called “Confidential Transactions” which will completely hide the sender, receiver and transaction value. The Monero team used the code written by Gregory Maxwell for the Elements sidechain project and adjusted it for the usage of ring signatures. The hardfork implementing Ring Confidential Transactions will likely happen towards the end of this year.

An important point to understand is that with Monero, privacy is built into the protocol itself and doesn’t have to be managed by the user.

Quote by fluffypony, Monero core team member:

“The next step is for us to continue enhancing Monero’s scalability, usability, and privacy – which is precisely what we’re doing with things like RingCT, which will completely mask even the amounts that are involved in a transaction.”


Technical Facts

Average block time between two blocks is 2 minutes. Mining will issue around 18.4 million coins in the first 8 years and afterward, a “tail emission” will issue sub-1% inflation to create a miner incentive.
Monero features a dynamic block size which is derived from the median of previous blocks. Once a spike in transactions happens, the block size will automatically adjust to include all transactions into blocks within a reasonable timeframe.


Current Ecosystem

MyMonero offers a web-wallet which lets users store and send Monero without the need to use the console wallet application Just make sure you back up your seed phrase before sending money into the wallet. It offers essential features like Overview, Send, and Recieve and comes with a slick user interface.

There are several Monero GUI wallets in the works, with announcements of upcoming implementations of Monero in the Jaxx mobile wallet, as well as the Exodus multi-OS desktop wallet. There is also an ongoing discussion about an implementation into a hardware wallet.

Monero is being traded on the following exchanges: Poloniex, Bittrex, Shapeshift and most recently BitMex.


Additional Ressources

Official Website
CryptoNote Whitepaper Review
Monero Stackexchange Q/A


Trading as “HIVE” expected to commence on the TSXV on Monday, September 18, 2017

Vancouver, British Columbia – HIVE Blockchain Technologies Ltd. (formerly, Leeta Gold Corp.) (TSX.V:HIVE) (the “Company” or “HIVE”) is pleased to announce that it has completed its previously announced acquisition (the “Acquisition”) of a state-of-the-art GPU-based blockchain data centre in Reykjanes, Iceland (the “HIVE Facility”) and formed a strategic partnership (the “Partnership”) with Genesis Mining Ltd. (“Genesis”), the world’s leading cryptocurrency mining hashpower provider, as described in the Company’s news releases dated June 14, 2017, August 9, 2017 and September 7, 2017.

Acquisition and Partnership

In accordance with the transaction agreement between the Company and Genesis dated September 13, 2017 and related agreements, the Company completed the Acquisition and entered into the Partnership (collectively, the “Transaction”) for total cash proceeds of US$9,000,000 and the issuance of 67,975,428 common shares in the capital of the Company (the “Transaction Shares”) to Genesis, with the result that Genesis is a Control Person (as defined in the TSX.V Corporate Finance Policies) of the Company. The Transaction Shares are subject to an escrow agreement, as described below, and are subject to a hold period of four months and one day from the closing date of the Transaction. The Partnership includes an agreement as to the general terms governing the potential acquisition of further cryptocurrency data centres from Genesis, and a master services agreement dated September 13, 2017 pursuant to which Genesis will provide hosting, maintenance and related ongoing services at the HIVE Facility.

After giving effect to the Transaction, Genesis owns or controls 67,975,428 common shares in the capital of the Company, representing 30% of the issued and outstanding shares of the Company. Prior to the completion of the Transaction, Genesis held no common shares in the capital of the Company. The head office of Genesis is located at Chinachem Century Tower, 31/F, 178 Gloucester Road, Wan Chai, Hong Kong. The Transaction Shares were acquired by Genesis as partial consideration for the Transaction. Genesis may in the future wish to increase or decrease its shareholdings in the Company as circumstances warrant.

Copies of the filing statement of the Company dated September 13, 2017 (the “Filing Statement”) and material agreements related to the Transaction, as well as the Early Warning Report filed by Genesis with the applicable securities regulators in respect of the Transaction Shares, are available at under the Company’s profile or by contacting the Company.

Conversion of Subscription Receipts

Following closing of the Transaction, the Company’s outstanding subscription receipts (the “Subscription Receipts”) issued upon closing of the Company’s private placement financing, as described in the Company’s news release dated September 7, 2017, automatically converted into an aggregate of 55,000,000 common shares in the capital of the Company. Aggregate proceeds of C$16,500,000, which had been held in escrow in accordance with the terms of the Subscription Receipts, have been released to the Company.

Change of Name and Stock Symbol, Resumption of Trading

In connection with the closing of the Acquisition, the Company changed its name from “Leeta Gold Corp.” to “HIVE Blockchain Technologies Ltd.” and changed its stock symbol from “LTA” to “HIVE”.

Trading in the common shares of the Company which had been halted as of June 5, 2017 is expected to resume on the Exchange under the Company’s new stock symbol “HIVE” on September 18, 2017.

New Board, Management and Corporate Matters

At the annual general and special meeting of the Company held on August 23, 2017 (the “Meeting”), Harry Pokrandt, Frank Holmes, Olivier Roussy Newton, Bjoern Arzt and Tobias Ebel were elected as directors of the Company.

In addition, the directors have appointed Jessica Van Den Akker as Chief Financial Officer of the Company and Kristen Reinertson as Corporate Secretary of the Company, who join Harry Pokrandt, President and Chief Executive Officer of the Company, as the management team for the Company going forward.

Biographies of the new board members and management of the Company are available in the Filing Statement and the information circular of the Company dated July 20, 2017 (the “Circular”) at under the Company’s profile.

At the Meeting, the shareholders also approved the adoption of new articles for the Company (the “New Articles”) as further described in the Circular. A copy of the New Articles has been filed at under the Company’s profile.

Finder’s Agreement

In connection with the Transaction, the Company and Olivier Roussy Newton (the “Finder”) entered into a finder’s agreement on June 8, 2017 (the “Finder’s Agreement”). In connection with the Finder’s Agreement and as disclosed in the Company’s news release dated September 7, 2017, the Company has issued 3,398,771 common shares in the capital of the Company to the Finder (the “Finder’s Shares”). The Finder’s Shares are subject to an escrow agreement, as described below, and are subject to a hold period of four months and one day from the closing date of the Transaction.


The Company engaged PI Financial Corp. to act as sponsor to the Company in connection with the Transaction.

Escrowed Securities

In accordance with the policies of the Exchange, and as disclosed in the Filing Statement, an aggregate of 75,874,199 common shares in the capital of the Company (the “Escrowed Shares”) will be held in escrow pursuant to an escrow agreement (the “Escrow Agreement”) among Genesis, Harry Pokrandt, Olivier Roussy Newton and Computershare Investor Services Inc., as escrow agent. The Escrowed Shares will be released from escrow as follows: 10% upon issuance of the Exchange bulletin granting final approval for the Transaction (the “Final Bulletin”); 15% on the date that is six months after the date of the Final Bulletin; 15% on the date that is 12 months after the date of the Final Bulletin; 15% on the date that is 18 months after the date of the Final Bulletin; 15% on the date that is 24 months after the date of the Final Bulletin; 15% on the date that is 30 months after the date of the Final Bulletin; and 15% on the date that is 36 months after the date of the Final Bulletin.

Pooling Arrangement

As disclosed in the Filing Statement, 73,910,115 common shares in the capital of the Company are subject to a pooling arrangement.

IR Agreement

The Company has entered into an investor relations agreement (the “IR Agreement”) with Future Money Trends, LLC, a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA.

The initial term of the IR Agreement is for three years. In connection with the IR Agreement, the Company has granted Future Money Trends, LLC and its affiliates an aggregate of 1,333,000 stock options under the Company’s stock option plan with an exercise price of $0.30 per stock option, exercisable for a period of five years from the date of grant, vesting as follows: 25% 3 months after the date of grant; 25% 12 months after the date of grant; 25% 24 months after the date of grant; and 25% 36 months after the date of grant.

Stock Option Grants

In addition to the IR Options and concurrently with the closing of the Transaction, the Company has also granted an aggregate of 21,300,000 stock options under the Company’s stock option plan to directors, officers, consultants, and charitable organizations with an exercise price of $0.30 per stock option, exercisable for a period of ten years from the date of grant.

Loans and Bonus Warrants

The Company has received Exchange acceptance of the two loan agreements entered into by the Company with a company owned by Harry Pokrandt and has received Exchange approval for the issuance of the bonus warrants issued in connection with such loans, each as previously disclosed in the news releases of the Company dated August 9, 2017 and September 7, 2017.

Additional Information

Additional information on the Company and the Transaction is available at under the Company’s profile.

For corporate updates, please register to our mailing list at, follow @HIVEblockchain on Twitter, and subscribe to the HIVE Blockchain channel on YouTube.

PI Financial Corp., subject to completion of satisfactory due diligence, has agreed to act as sponsor in connection with the Transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Transaction or the likelihood of completion.

Completion of the Transaction and resumption of trading on the Exchange is subject to a number of conditions. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the acquisition and has neither approved nor disapproved the contents of this news release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
On Behalf Of HIVE Blockchain Technologies Ltd.

“Harry Pokrandt”
President, CEO and Director

For further information please contact:

Harry Pokrandt
Tel: (604) 609-6110

BitCoin HardFork

What will happen to my Bitcoin Mining contract?
All Bitcoin (sha256) mining contracts will continue mining the original Bitcoin blockchain as before.Everybody can fork the Bitcoin protocol at any time. This does not mean that any fork has the same mining and community support that the original Bitcoin protocol has. Any fork of the Bitcoin protocol is to be treated as it’s own cryptocurrency.

I have Bitcoins in a wallet, what will happen to them?
It depends on where you store your coins. If you hold them directly in your wallet with your private keys you have full control over your funds. In this case your balance from before the fork will appear in both branches after the fork, i.e., you will have the same balance of Bitcoin A and Bitcoin B.If you’re using an exchange to hold your funds, the exchange has control over your funds and you might end up owning both versions of the coin, or just one that the exchange chose to support. The exchanges have already or will communicate their procedure to you.

What will happen to my Bitcoin (SHA256) contract daily mining payouts?
Nothing changes for the mining of the original Bitcoin protocol chain. All daily payouts will be processed as usual. You will receive your daily payout at the end of a mining day. A mining day starts at 00:00 UTC and ends at 23:59:59 UTC.

Do I get double the mining payout when Bitcoin forks?
No. Mining is not to be mistaken with owning a balance in the Bitcoin network: The mining for Bitcoin A will not be the same as for Bitcoin B as the transactions will change and thus the hashing solutions for those transactions will be invalidated. Since we’re actively mining the original blockchain with the hashpower provided, we’re only receiving the mining returns of that blockchain that then get paid out to our users.

Will there be fluctuations in the mining difficulty of Bitcoin?
There is a chance that the global Bitcoin hashrate could fluctuate as some miners switch their hashpower over to the forked protocol but it’s impossible to tell what will happen exactly.

Will you add any new Bitcoin fork as minable option to your customers?
Should a Bitcoin protocol fork, e.g. “Bitcoin Cash” last for a longer period and gain interest by our clients, we will analyze and assess the possibility of adding it to the mining portfolio.

Are other mining contracts, e.g. for Litecoin, influenced by this?
No – the mining of other cryptocurrencies is not influenced by a potential Bitcoin fork. However, as usual with big news in the industry, fluctuations in the market value of any coin are to be expected.

Do I need to do anything else?
No. In regards of mining everything will go on as normal. However, as the fork is likely to cause disruption in the Bitcoin network, we will temporarily halt payouts and orders (with cryptocurrencies) for up to 48 hours and release all funds to your wallets as usual after the situation is clear. This is a common security practice for exchanges and other companies alike. The mining operation itself is not influenced by this and resumes as normal.

Where can I find out more about this topic?
There are various online resources for the topic, however we can’t guarantee the authenticity of the content displayed. This said, you can check for current Bitcoin protocol details and Coindesk for general news.

Mining Augur

Imagine making a living just from your predictions. Got a hunch your favourite sports team will win on the weekend? What about Leonardo DiCaprio winning an oscar? Research it, think it through – if you’re correct, you’re rewarded. If you’re wrong? You just lose your initial investment.

Now, imagine using these kinds of predictions for real world analysis – earthquake predictions; political outcomes; medicine prices; stock market analysis. Given a monetary incentive, people will be motivated to predict their outcomes as accurately as possible – so they’ll research, learn, and improve.

That’s what Augur aims to be: an early warning system – for everything. Riding off the backs of concepts proposed by James Surowiecki, Charles Mackay and Francis Galton, Augur gains accurate predictions about future events by letting people bet on their ideas.

Before we get into what makes Augur unique, let’s take a step back and talk about tokens – what they are, how they work, and how cloud mining it all ties in with Ethereum.

Tokens – A Standin for Assets


If you mine Ethereum, you’re already familiar with the concept of tokens – Ether is a kind of token. Tokens are fairly easy to understand – they’re a representation of something we attribute value to. We’ve used them for trade since 1400 AD – where we took stones and carved them into disks – to represent other goods, and now in 2017, we’re using them to represent property in the digital world.

Tokens can represent any asset. Imagine a world where you could grab a token that gives you a week’s worth of produce from the farmer’s market, or a little digital token that is redeemable for a download from your favourite artist. And even better, you don’t need to physically store tokens – they live on the cloud, or in your machine, or even on your phone – or more accurately, in your Ethereum wallet.

Augur has three kinds of tokens: the first two are called value tokens, and allow you to exchange them for real money (fiat, or cryptocurrency). The third kind is called REP – short for reputation.

REPutation tokens were created to solve two big problems: first, they were sold in a limited time auction, to provide funding for the development of Augur. But further, it ensured that the initial group of reputation holders are genuinely interested, and invested, in the network’s success.

It’s a rather ingenious incentive system, and part of Augur’s appeal: REP holders are required to honestly REPort the outcome of events. By doing so, they earn more REP – we can think of this as a dividend (a sum of money paid out regularly) of sorts. Dishonest reporters, however, have their REP confiscated and redistributed to honest reporters. It keeps the entire system clean and transparent.

Augur made a fantastic, two-minute video on the entire topic of reputation – check it out.

Prediction Markets


Prediction markets sound a little like snake oil at first glance. After all, it’s an investment in future facts. You invest information that will, to your mind, become a fact before it becomes a fact; if it never becomes a fact, you lose your money. If it does? You earn money in proportion to the number of people who thought you were wrong.

The more Augur is used, the more it will be able to deliver accurate probabilities on the future existence of facts. If enough people use it, humanity, in theory, could know the future before it happens.

Prediction markets have existed for quite a while and still do exist. Intrade is perhaps the most popular example, but it had to exclude the US from it’s list of allowed traders. In some jurisdictions, it’s seen as gambling; in others, options trading. And there’s further worry that incentives might be created for controversial topics – like predicting the death of a celebrity.

These small things have held prediction markets back – and even if all of this was sorted out, building on top of the platform is not an easy job, and there’s no guarantee that the system will not be corrupted at a later date.

And this, ladies and gentlemen, is where Augur comes in.



Decentralized systems are fantastic, and allow ideas – new, and old – to blossom into wonderful new ways. We’d not have some of our most favourite social media sites if it wasn’t thanks to innovation without permission.

Prediction markets need that same kind of decentralization – the ability for anyone, anywhere, to create a market, bet on the outcome, and report the outcome. But with Augur, there’s a little more to it than just that.

At the end of a prediction, the results must be reported. In previous markets, this would be reported by the people who ran prediction markets themselves – and you had to trust they’d report correctly. With a decentralized system, however, you don’t need to trust just one party – you trust multiple.

Once again, Augur made a terrific two-minute video on this topic – which you can watch now.

Mining LiteCoin

The History of Litecoin


Litecoin was born out of the ashes of failure – or, more specifically, the ashes of Fairbrix. A clone coin (and a fork of Tenebrix), Fairbrix was plagued with problems that led to its swift downfall. A premine period put seven million coins in the hands of a developer before launch; a software bug saw the genesis block fail to mint coins. Fairbrix left the cryptocurrency community clamouring for a Bitcoin substitute that the average Joe could mine on his hardware. And engineer Charles Lee decided to give them just that.

The Scrypt Algorithm


Lee wasn’t happy with the state of mining. At launch, Bitcoin was fair – anyone could mine with a CPU, and profit. GPU mining emerged, and it became a little more difficult, but the divide still wasn’t too great – until ASICs arrived.

ASICs are specially engineered hardware, designed to do one thing, and do it well – and it blew CPUs and GPUs away in terms of efficiency. Now, the average hobbyist could only dream of making a profit – if you didn’t have multiple ASICs, you didn’t have a chance.

Fairness was an outfit Litecoin wore best, and a staple theme in Lee’s discussion and work. A proof of work algorithm, he decided, was the best choice – a system where finding a problem is difficult, but verifying it is simple.

Scrypt – the algorithm that Litecoin and its deceased brothers chose – aimed to even the great divide between ASIC owners and the average miner. It did this by forcing the use of a specific part of the CPU (and GPU), called the scratchpad.

The Scratchpad


First, a comparison: Bitcoin uses Sha-256d. Sha-256d only needs computing power – this means that, given enough computing power, you can calculate ‘rounds’ of Sha-256d very quickly.

Scrypt, on the other hand, uses computing power and memory. This is because it generates a large amount of pseudo-random data, storing it in the scratchpad, and referencing the data in a random way.

The scratchpad is a fixed amount of space that lives in your CPU or GPU, independent of things like ‘VRAM’ and actual machine ‘RAM’. You can’t add to it, and it fills up fast. At launch, this made it impractical – if not impossible – to run on specific hardware like FPGA or ASICs. A very specific machine with a large scratchpad size would need to be made for Scrypt mining.

The Factors of Success


It was the approach to launching Litecoin – rather than the technology behind it – that generated the wave of publicity. The source code for Litecoin was launched a week before the genesis block, and Lee encouraged people to mine on the Testnet (a testing ground for altcoins, which doesn’t generate rewards or add blocks to a live chain).

This had a joint effect: not only did it get people talking about Litecoin, and it’s benefits, but their hardware was set up and optimized for the launch.

On October 7th, 2011, after mining only 150 LTC, Charles Lee released Litecoin to the world.

Litecoin Today


Litecoin was, primarily, a vehicle for investors who wanted to get in early on what could be the next wave of digital currencies.

Six years on, it’s left a very impressionable history. Sure, it’s not easy to find a pub that will take your coins – or a taxi – but you’ll be able to spend your coin on gift cards, pet food, and even jewelry.

It’s become a testing ground, too – big changes to Bitcoin could cost the market a lot of money, but with Litecoin, more risk is able to be taken. The community is smaller, so it’s easier to convince a large portion of people to upgrade – often, Litecoin tests out new features or experimental ideas that Bitcoin cannot.

The project got a small boost when Warren Togami – a former engineer at Red Hat – signed on as Litecoin’s lead developer – and created a nonprofit foundation to manage the Litecoin software, much like the Bitcoin Foundation.

Charlie Lee is still engaged with the Litecoin project and gives thoughts for improvement on various crypto-topics, for example including SegWit and Lightning Networks in Litecoin and Bitcoin.

Litecoin is traded on Poloniex, Kraken, Shapeshift and many more.