The Scryptcc Cloud Mining Service Moving from GPUs to Scrypt ASICs
Most cryptocurrencies that are mined by computers use a ‘proof of work’
algorithm, designed to make them prove that they have invested the
computing power in producing the coins. Bitcoin uses SHA–256, but many
alternative coins (altcoins) use another system, called scrypt.
The Scrypt cloud mining service Scryptcc was one of the first to start offering Scrypt cloud hashrate using GPUs for mining alternative Scrypt-based crypto currencies and paying its users in Bitcoin. The service was quite interesting when they’ve launched, but had some issues from the start and they were a bit slow in fixing things, but lately they seem to have improved. In fact we’ve seen some similar services come and go and this one is still here and without having some major hiccups like others had. The interesting thing was that up until recently they were still using only GPUs for mining Scrypt and thus the profitability was not good at all. However there is a new announcement that they have started adding Scrypt ASICs in their new data center and report that profitability has started to get better again. Currently the price of 1 KHS is ~0.000324 BTC or about 0.324 BTC per Megahash worth of Scrypt mining hashrate at the service, so definitely not the best price. According to the profit calculator available on their website buying 1 MHS of cloud mining hashrate at the moment you can expect to break even in about 152 days. This is not the best deal we’ve seen for sure, but not the worst either.
Scrypt.CC was created to make mining scrypt based coins accessible to
everyone without huge upfront costs, no huge electricity bill at the end
of the month, no worries with hardware failure, no babysitting the
machines 24/7. We take care of all of that for you!
• Instant KHS Delivery
• No Trade Fee
• Payouts Every 10 Minutes
• A Great Referral Program
• 24/7 Support
• Sell Your KHS At Any Time
Startup proccess is really simple.
• Fund your account with BTC
• Trade your BTC to KHS
As soon as you recieve KHS on your account, you will start generating income and earning rewards every 10 minutes. No additional setup is required.
As soon as you recieve KHS on your account, you will start generating income and earning rewards every 10 minutes. No additional setup is required.
We mine the most profitable coins at the moment, We calculate the
avarage profit for the last 10 minutes, reduce eletricity, upkeep costs
and pass the rest to you!
Some upcomming updates:
Tutorial on how to use our API.
Site in multiple languages.
Mine a specific coin.
Make public our 0% fee pool for all scrypt coins, including a auto profit switch function.
The second batch of 100 MHS that was released for sale at the Scryptcc
cloud mining service by the service providers has been completely sold.
This means that currently all of the trades of KHS going on at the
exchange are between users that have purchased hashrate and as a result
the exchange rate has started to go up. The initial price per KHS was
0.00144444 BTC and now the cheapest price you can purchase has gone up
to 0.00144998 BTC per KHS and will probably continue to increase if the
demand goes up. The Scryptcc
hashrate provided by the service is total of 200 MHS of Scrypt mining
power out of which we have purchased some extra KHS going from the 239
KHS that we’ve already had to 404 KHS as a part of our testing of the
cloud mining service.
There
are two major types of mining algorithms governing the generation of
new cryptocoins. One is of course the Bitcoin mining algorithm which
uses something called SHA256 to open up new Bitcoin blocks. Other
cryptocoins such as Devcoin, Ixcoin, and Namecoin also use the Bitcoin
mining algorithm. The other is the scrypt mining algorithm which uses an
entirely different computing process. The exponential rises in Bitcoin
mining difficulty has led to greater interest in cloud mining scrypt
coins and a few services which make it easy for any user willing to make
a small investment to do so. Scrypt.cc is one of the first such services for cloud mining scrypt coins. Users can buy KHS (1/1000 of GHS) one at a time through a trading platform, and these KHS immediately begin cloud mining and pay out in ten minute intervals. The service puts the hashing power to work on the scrypt
coins believed to yield the best return and converts the earnings into
Bitcoin. In the future users will have the option to select the scrypt
coins their KHS will be mining as well as get paid in those same coins.
Company Background: Scrypt.cc is a side project of a well established Brazil based company called MKT Tecnologia da Informacao.
The company has eight employees/partners, and the one going by Admin is
usually the one who answers customer questions in the chat box. The
company is largely unknown by the cryptocoin community and they are
hoping to use this particular project to establish trust with the
Bitcoin mining community. While the company seems honest and willing to
answer questions, Cloud Mining Report considers this to be a more high
risk investment. More information can be obtained through the forum
which is linked to the main Scrypt.cc site.
Value For Money: The website has a built in very simple Scrypt mining calculator
which estimates how many days it will take to break even. A typical
break even point is 133 days. KHS are currently priced at 0.001 BTC
each. Payouts are credited to users’ accounts every ten minutes, and
users are free to reinvest or cash out their earnings.
Customer Support: Scrypt.cc
responds to customer support tickets in a timely fashion and can also
be reached via live chat. The forum provides another way that users can
request help or learn from other users’ experience with similar issues.
Payout Processing: Scrypt
mining rewards are assigned to user accounts every ten minutes.
Withdrawals can be made at any time, though there is a 0.001 BTC
withdrawal fee.
Security: Scrypt.cc
currently relies on users creating robust passwords and pins. There are
plans in place to upgrade to 2FA as well. Users should use a unique
password and change it periodically. It is a real shame 2FA is not
available at this time: any platform which involves BTC which can be
withdrawn by hackers needs 2FA.
Summary:
Scrypt cloud mining is a brand new and wide open field with a lot of
unknowns. The continual invention of new scrypt coins which are easy to
mine at first make it possible for vigilant miners to direct their
efforts towards the truly profitable ones. Scrypt.cc takes the work of choosing the right scrypt coins off the user’s back, though it does plan to implement a way for users to also take that on themselves if they want to. Not much is known about Scrypt.cc’s
parent company. However, people on the forum have noted the company
representative “Admin” to be exceptionally friendly, forthcoming, open
and helpful. He has indicated that selling scrypt hashing power is a
means by which the parent company is hoping to establish trust within
the cryptocoin community. Users wishing to participate in scrypt cloud
mining with Scrypt.cc are advised to do their own due diligence.
As 2FA is not available on the Scrypt.cc
cloud mining platform be sure to change your password and pin
regularly, have 2FA on your associated email account, and scan your
computer for viruses often. Due to being the only cloud mining platform where users can purchase KH/s and automatically mine the most profitable Scrypt coin, we believe Scrypt.cc is definitely worth a look with their innovative automatic mining of the most profitable Scrypt coins, regardless of whether you eventually purchase cloud Scrypt mining KH/s or not.
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