February was a big month for the club. We finally launched into production, and are now mining blockchain assets. We’re learning lots, and are documenting our jouney on our blog. Be sure to keep up with https://cryptonoob.club for updates.
Here are some highlights from the month.
What We Mined in February
- Litecoin (LTC) We are leveraging our Moonlander 2 ASIC-based miners to mine Litecoin.
- Sumokoin (SUMO) We look advantage of a brief decrease in SUMO mining difficulty and mined it for a portion of the month.
- Intense Coin (ITNS) Our research led us to Intensecoin, a peer-to-peer (P2P) decentralized VPN. We were attracted to ITNS by its solid roadmap, ease of mining, and a potential for upside.
- Graft We mined Graft for the second half of February. Graft is a cryptocurrency focusing on point of sale (POS) use cases. Graft is not currently traded on any exchange, which means that it only holds an arbitrary value at this time driven by peer-to-peer trading on Reddit. We’ve mined a considerable amount of Graft coins in February and we’ll be following Graft closely in March. Obviously the POS opportunity is huge for cryptos, and as such we think Graft has the potential for massive upside.
Club members will receive an email shortly with a breakdown of our monthly output and costs.
Acquiring new miners is still a challenge, but is becoming easier. This month we were able to get our hands on two new GPUs for the club. First, we acquired an AMD Radeon Vega Frontier Edition. This GPU has about 2.5x the hashing power of the GPUs we were already running. This model was specifically designed for blockchain applications and we’re super excited to have it added to our rig and increase our hashing power!
We were also able to acquire a Radeon RX 580 Armor, which is similar to the model that we already have in production.
Lets face it. Swapping cryptocurrencies is a pain. Especially for a crypto noob. In fact, one of the most common questions we get from those new to cryptocurrencies is “how can I easily convert coin X to coin Y?” If you’re dealing in common cryptos like Bitcoin or Litecoin, this can be achieved easily via an exchange that trades in both. But as traders begin to explore the world of altcoins, this can become more of a challenge. Until you discover ShapeShift.io
For those who have been following the Crypto Noob Mining Club’s journey to production, we’re finally here! The miners are up and running and we’ve just completed our testing phase. During testing, we wanted to ensure that our miners are stable and optimized in terms of their energy draw and their hashing rate, or “mining power.” We are now at a point where we are comfortable with how the operation is running and we will be looking to on-board our next round of members soon. With that said, we plan to never stop optimizing, and will continue to make decisions transparently on the club’s behalf to protect and grow the long term profitability of the operation.
Coming up in March
- Our technical team is working on a virtualization strategy that will allow us to implement ”coin switching” as well as dedicate certain miners to mine specific coins. This is give us agility and the ability to react quickly to the market.
- As always, we are researching a number of new coins to mine. We will be testing out a few new ones in March. Stay tuned for details.