Monthly Archives: November 2017

My Ethereum Mining Guide has been updated

Just a quick note that I finally sat down and updated the hardware, Linux, and Windows sections of my Ethereum mining guide today, bringing everything up-to-date with current best practices.

The Linux setup guide especially deserves your attention if you set up your own rig in the recent past and have noticed a slow degradation in speed over time as the Ethereum DAG file has grown in size. The guide now uses the recently-released (for Linux anyway) AMD blockchain compute drivers, along with the latest version of Claymore’s miner, which should bring your rig back up to its original speed (my own quad GPU rig had degraded down to ~80 MH/s since May, after installation I’m back up to ~110 MH/sec).

Bitcoin: it’s over 9000 (dollars)!

With Bitcoin’s price currently hovering around $9,400 on Coinbase, it’s time for the obligatory “it’s over 9000” post. Bitcoin’s value has been increasing steadily over the past 48 hours, hitting new all-time highs nearly hourly—and it doesn’t look like it’s slowing down. Let’s all pause and remember that one bitcoin cost a mere ~$700 just one year ago!

The rapid recent price inflation is probably due to the “Thanksgiving effect”. Holidays are a prime opportunity for tech-saavy family members to extol the virtues of cryptocurrency to less technology-literate relatives. I’d wager that quite a few Thanksgiving dinner discussions revolved around Bitcoin, which caused masses of newly-exposed people to invest (Coinbase reportedly added over 100,000 new users on Thanksgiving).

It’s not just Bitcoin that’s up—cryptocurrency in general has seen double-digit gains over the past week. Ethereum and Litecoin are actually both up more than Bitcoin, at ~30% and ~20% respectively.

I’ve been telling people for months that 2018 will be the year of the five-figure Bitcoin. It looks like I was probably wrong—at this rate, we’re going to see Bitcoin top $10,000 before 2017 is over.

Bitcoin’s SegWit2x fork postponed indefinitely

With only a week to go before its planned implementation, yesterday’s announcement that Bitcoin’s planned SegWit2x fork is being shelved indefinitely came as somewhat of a surprise.

Ultimately this is good news. Bitcoin is already confusing enough to the average individual without another fork caused by lack of community consensus added to the mix—especially in the wake of the (very) recent Bitcoin Cash and Bitcoin Gold forks. Many view these recent forks as nothing more than scams designed to create wealth “out of thin air” by creating duplicate coins, and killing SegWit2x instead of further fracturing Bitcoin sends the right message.

The way that the SegWit2x saga unfolded still leaves a bad taste in my mouth, however. I suspect that the six individuals responsible for SegWit2x and its cancellation became quite a bit wealthier collectively over the past 24 hours. Judging from cryptocurrency pricing trends over the past couple weeks, quite a few investors have been shifting their funds from altcoins to BTC in anticipation of their “free” SegWit2x coins on the fork date. In the hours following the announcement that SegWit2x was dead, BTC dropped about 10%—and predictably, altcoins started rising steadily as people began converting their BTC back into other coins. Timing the cancellation announcement so close to the planned implementation (with Bitcoin’s price at an all-time high) probably made some insiders rich at the expense of the masses (like this unfortunate soul). Welcome to unregulated markets!