The company promises to be soon producing a scrypt FPGA that can do 1000 Khash at 150 watts/hr. this would be significantly more energy efficient than the current GPU mining setups that are around 1/watt per khash.
I've spent the past day and a half learning to use ubuntu to write this guide and fixing the mistakes other people made in their guides that were written to a much higher level of understanding. Up until yesterday i'd never used ubuntu in my life and I got this to work, so anyone who is remotely computer proficient should be able to get through this with minimal hand holding by following these steps
Also, for 3cents for 1500pps, this is almost as cheap as owning the hardware yourself and paying the electricity cost (which is about 50 cents a day for me)
For the purposes of this post, I'll be using digitalocean, but any vps with ubuntu 13.04 will do. I'm not going to try and dupe you into some referral link. If you'd like to hook me up for helping you out, I'd gladly accept any XPM here: ASRtmbRbSHnwDFtto64qLSKnUUqKKgffha
Step 1: Get a VPS, I chose digitalocean. I paid $5 via paypal which works out with one vps to be about a solid week of mining. With them, I recommend the 2cpu option as I've found that they are throttling the smallest droplets. At 3cents per hour i'm getting 1500pps. Create the droplet, and name it whatever you wish. Be sure to pick ubuntu 13.04 64bit.
Step 3: When you created your droplet, you were sent an email with the login information. Open putty, and input the ip address, you may wish to name this VPS and click save. Connect to the vps, use the username "root" and the password you were provided.
Enter the following lines of code one at a time, don't include the numbers.
4: (you should be still in root, if not, you can type "cd .." until you're in root, if by some chance your vps downloads to a /downloads directory you can type "dir" to list all directories and cd directorynamehere)
5: tar jxvf primecoin-0.1.1-hp5.tar.bz2
6: cd primecoin-0.1.1-hp5
7: cd src
8: make -f makefile.unix USE_UPNP=-
If step 8 gives you an error, your vps does not come with a necessary library. You need to type this:
Every 5 seconds it will update, if you get a block, it will appear as a transaction. Should you wish to wish to get those coins into another wallet, you simply need to right click the putty top blue bar and click duplicate session. Log into the terminal, then type this from the src folder:
The altcoin community is abuzz this week with news of primecoin, a new altcoin.
Primecoin is different from other bitcoin clones as instead of being a standard hashcash type of coin Primecoin's miners are calculating prime number chains to find blocks.
Primecoin has risen to a peak of .015 BTC per XPM and currently sits at about .01 BTC per XPM.
Primecoin is currently traded on most alt exchanges like coins-e and cryptsy (down at the time of this post). You can learn more about it at Reddit Primecoin which is an active community or download the latest and fastest wallet at this Sourceforge.net for linux and This one for windows
I mine on Multipool, a site that basically directs your hash automatically at whatever is currently the most profitable altcoin to mine. This is exceptionally convenient as I'm a busy girl and I have a lot more to do than constantly redirecting my rigs at the latest craze.
Yesterday evening, Mt.Gox, the largest online exchange for Bitcoin announced a number of things on their facebook page. Among the news was that Litecoin is expected to be listed on MtGox in July 2013.
"6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning. " (Mt Gox Facebook Page)
As a result the price of Litecoin has skyrocketed overnight from approximately $2.20 per LTC to as of this post (1pm EST on 6/22/13) to $3.20. Litecoin is expected to continue to rise as the current difficulty in no way matches the sale price (supply and demand dictate the price, but they are intricately tied to difficulty).
In short, now is a good time to get your hands on litecoin, be it via investing, mining, or other free sources. Check out my prior posts for more ways to get free litecoin!