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wafflepool.com - An auto switching scrypt coin mining pool
WafflePool is a multi-coin (scrypt) mining pool. Point your miner to WafflePool with a Bitcoin address as your username, and we take care of automatically mining the most profitable coin at all times, converting the earnings from each coin into Bitcoins, and paying you out in bitcoins! Mining alt-coins and converting to bitcoin is very often orders of magnitude more valuable than mining Bitcoin directly! No registration, no hassles, just point and start getting paid!
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BitcoinUnlimited: "We would like to thank @jtoomim and his pool for voluntarily donating a percentage of the coinbase reward to Bitcoin Unlimited. Thanks for helping us research and build #BitcoinCash #BCH infrastructure!"
Reality check: today's minor bug caused the bitcoin.com pool to miss out on a $12000 block reward, and was fixed within hours. Core's 1MB blocksize limit has cost the users of bitcoin >$100k per day for the past several months.
How and why can Bitcoin.com's mining pool pay "110%" block rewards?
Am I missing something or is the only conclusion one can draw that they are just overcharging for the mining power and then paying out bigger rewards from this reserve they are creating up front... otherwise, how could it possibly work?
@gpuhot: RT @bitcoin_v: Some say BitcoinV is an experiment. BitcoinV is a new approach to PoW mining and it will either catch on today, in the future, or fade away. If enough pools can form to mine large block rewards, the supply will increase and draw more people in.
@gpuhot: A few hours without block makes patient impatient... Adjusted rewards down to 1024x, 51200 BTCV/block. Jump on and mine some @bitcoin_v now! -a sha256 -o stratum+tcp://stratum.altcoincash.xyz:33331 -u -p c=BTCV pool discord: https://t.co/PX83EMBgsf
There are signs that a major Bitcoin miner (who was liquidating stored Bitcoins to keep power going) has officially gone busto.
Here you see major hash decline: https://www.blockchain.com/charts/hash-rate Here you can see '1st spends' of Bitcoin https://terminal.bytetree.com/bitcoin (I can't verify the accuracy of this). I've been watching 1st spends a while, averaging like 15,000 more Bitcoins spent than mined for the last year. That's like $180 Mil. First spends can only be done by miners. Spending more than mined basically means they are spending from old blocks (like blocks that paid out 50 BTC, 25 BTC, 12.5 BTC etc). There is some bonus value to first spend coins that I don't quite understand, but basically you get 10% or 20% more than the Bitcoin value when you spend them, because they are completely untraceable or something like that. You can sort of trace Bitcoins, but it's very, very hard to trace newly mined Bitcoins until they are spent and linked up with other assets of said individual. So over the last year, someone has been liquidating these reserve Bitcoins, while hash power of Bitcoin has gone up like double from where it was and payouts have fallen in half, so mining is paying like 25% of what it was this time last year, when BTC was $10k (presuming you stay on old equipment, etc.). I could imagine a situation where a BTC bull holds these first spend coins for a long time, planning on a rapid price jump which takes a long time to materialize. And then combine that with he $3.5k Corona / Oil dip, which basically forced liquidated everyone on margin position (which Bitcoin bulls tend to do), and I could see a scenario where someone had a wonderfully huge Bitcoin position, and mining op, and then got all their free coins liquidated by margin call, and spent their '1st spend' coins to keep ops going, hoping for rapid price acceleration. This is all conjecture but I've been expecting something like this to happen. Maybe it's just a blip, and I'm totally wrong, and hash climbs back up, but if it stays down and the BTC price goes up, then I'm thinking a miner went busto, who had be applying $10's of Millions of sell pressure monthly onto the system.
The latest propaganda piece by Bitcoin ABC: "After the upgrade, Bitcoin ABC software will continue to be fully compatible with the Bitcoin Cash protocol, whereas alternative node implementations will become BCH-incompatible."
could mining pools be charged for violating sanctions?
If those running a bitcoin mixer can be charged for violating AML, can a centralized mining pool charged for mining a transaction violating sanctions? Mining pools are relatively large organizations that control what transactions get into the block as they create the block template using the bitcoin protocol. Thus they have 'ownership' of what transactions are processed. They outsource some of the POW hashing to 'ASIC' operators ( that are not responsible for selecting transactions ) large organizations generate allot of revenue and hire multiple people and present a large target for law enforcement vs a random solo miner that mines a block every now then. They are more likely to be compliant with requests to censor transactions to protect their 'reputation/business' This is, why protocols like better-hash needs to be widely adopted because, with better hash the pool is _NOT_ responsible for selecting transactions - all it will do is pool the rewards. Individual miners in the pool can create their own block templates. Thus they are no longer ASIC operators as they need to run a full node to create the block template. I think betterhash will decentralize legal liabilities of the mining pool. Any point of centralization in bitcoin like a custodian mixing service is vulnerable to legal action.
Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What is a Mining Pool? Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate ... Bitcoin and cryptocurrency users shopping online need to get familiar with the best crypto cashback rewards and rebate platforms. While we have covered the best ways to earn bitcoin, the following top 10 reward apps and rebate websites are must-see must-use options that enable people to earn cash back on your purchases, paid in cryptocurrency.. Many may be familiar with popular cash back ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more. Satoshi Nakamoto, Bitcoin’s creator, set the block reward schedule when he created Bitcoin. It is one of Bitcoin’s central rules and cannot be changed without agreement between the entire Bitcoin network. The block reward started at 50 BTC in block #1 and halves every 210,000 blocks. This means every block up until block #210,000 rewards 50 ...
EB49 – Meni Rosenfeld: Mining Pool Reward Systems, Bitcoin Economics, Bitcoin in Israel
Every four years, Bitcoin gives out 50% less reward for each block. To avoid the price instability caused by this, ZooBC has re-designed how blocks and rewards work from the ground up. In this ... This is what you need to know about Cryptomining.... Cryptomining is all about your Hardware.... you can Solo mine and pool mine too... i also mentioned how ... LIKE COMMENT SHARE SUBSCRIBE 0.002 BTC = 18$ For 300 Random Peoples + 3$ BTC for 50 Random peoples for Twitter repost + 22,000$ Invitation ... Meni has been studying mining pool reward methods for several years and in 2011, wrote a paper titled “Analysis of Bitcoin Pooled Mining Reward Systems”. This research gave him a broad ... On our site you can register in the mining pool and get rewards of 0.001 BTC every month! Without any investments! Just register and get your money! You can withdraw Bitcoin to Visa/MasterCard at ...