GPU solo mining on Scrypt DynDiff NewEnglandcoin (NENG)

[honglu69]

NewEnglandcoin (NENG) is dynamic difficulty algo on top of scrypt.   The NENG bitcointalk ANN:
https://bitcointalk.org/index.php?topic=5027091.0

The recent v1.2.1 release of NENG last week essentially enabled GPU mining on this coin.  Historically this coin was mainly mined by ASIC miners or CPU miners.  NENG was never friendly to GPU miners until the recent v1.2.x release.   v1.2.x core release essentially imposed a spike difficulty within 3 seconds of last block.  The spike difficulty currently sit at 244k, which means that instant mining is stopped on NENG.  It also means that NENG becomes quite  ASIC-restricted  recently.

At this moment, my estimate is that GPU miners are dominant force on NENG mining, followed by ASIC or CPU miners.   Just a tip,  do not join a mining pool for GPU rigs. Just do a solo mining setup and the rewards will be quite big at current low  base diff  (0.00192499).

NewEnglandcoin (NENG) is also listed at ShorelineCrypto Exchange at: https://shorelinecrypto.com/market/DOGE-NENG

Also checkout the Whitepaper on ANN for details of dynamic diff algo.

NENG CPU mining info:  Historically after v1.1.1 release,  ASIC miners mined probably 60% to 80% of blocks, the remain blocks were mined mainly by CPU miners using its own
Cheetah_Cpu miner software. There is already a CPU mining thread on this ( https://bitcointalk.org/index.php?topic=5090671.0 ) .

[AkiAfroo]

why a new post/thread?  

[honglu69]

why a new post/thread?  

I am assuming GPU miners are different set of rigs and maybe different group of people.  I am announcing a mining thread here first time for GPU miners.

NENG was never that much of GPU coin in the past.  It was mainly for ASIC miners or CPU miners in the past.  

[honglu69]

Base difficulty on NENG now is reset to very low level, close to zero.  GPU mining is dominating now.

[honglu69]

To understand why NewEnglandcoin is such unique coin that allows CPU/GPU/ASIC mining together all profitably, checkout the latest report:

Security, Decentralization Value & 2 Announcements

https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2019Q2_report/NENG_Security_Decentralization_Value.pdf

No Hard Fork in 2019 Q2 or in Near Future
NENG v1.2.x Hard Fork Evaluation
NENG 51% Attack Cost - $10,000 USD
Decentralization - Solo Mining Up, Mining Pool Down
What if 51% Attackers Utilize GPU fleet?
NENG Valuation is Dirt Cheap
Announcement of NENG Fiat Project for all U.S. Residents
Announcement for Mobile Miner Project Initiation

[honglu69]

Base difficulty of NENG just reset to low level.  Big ASIC miners are struggling because of DynDiff algorithm on top of scrypt. Now is boom time for GPU or small ASIC solo miners.

[honglu69]

 August 15, 2019 - Mining Update on Effect of Base Difficulty Reset, GPU vs ASIC

Just four hours ago,  NENG blockchain base difficulty had massive reset. The base difficulty dropped from 10 to 0.00024414.  The reason was that before yesterday there were large ASIC miners
( 500 Mh/s to 1 Gh/s big ASIC rigs) mining NENG, they all left with only small ASIC miners remaining.   CPU miners on Cheetah picked up a lot of blocks overnight.  Then this massive reset hit early this morning.  

Right now it is boom time for GPU miners and for big CPU miners.

Here is last half hour mining rewards counts for my 300 kH/s  Nivida GTX 1050 GPU verses 3 MH/s USB ASIC stick, both are on solo mining NENG:
GPU:  30 blocks obtained from 10:55am to 11:25am U.S. eastern time - 600,000 NENG in half hour
small ASIC:  4 blocks during same time -   80,000 NENG in half hour.

GPU only has 10% hashrate of small ASIC USB stick, but generated 7.5x rewards in half hour.