May 2018 update – While bitminter mining pool remains online, the mining pool mined less than 2 dozen blocks during all of 2017, and only 2 blocks in 2018 so far, so the information in this article may be out of date as it was originally published in 2015.
A look at the Bitminter Bitcoin Mining Pool
Please note: This review is based on a relatively small amount of hashing, a few hundred ghs. The stats outlined in this review may not apply to larger miners. We hacked our antminer S1’s to mine nine pools concurrently, letting us run proportional power across a wide variety of mining pools. This review is part of our series of bitcoin mining pool reviews.
Bitminter are a long established bitcoin mining pool that, in it’s time, mined over 195,000 bitcoin, but has been overtaken by many others in more recent time. However, they still continue to regularly find blocks, and have a steady group of miners keeping them finding blocks every couple of days.
The pool uses a scoring system to determine it’s payout. Shifts are divided into groups of 10, with a new shift starting when 1/10 of the current difficulty is passed, or a block is found. Payouts are based on a 1 terrahash proportion, and added to your account. Being an older pool, it has a long established group of miners on it, which are semi-active on various bitcoin places. The pool mines bitcoin and namecoin, and you can put your wallet address in to receive earnings. The payout threshold for bitcoin is pretty low, with automatic payouts at 0.01 bitcoin, and even if you only have a modest amount of hashing power, you can make an manual payment for amounts less than this.
One thing I noticed compared to pretty much every pool is that you can’t just register with an email address/password, or a bitcoin address. Instead, the pool allows forces you to sign up using open id, gmail and a wide range of accounts, although many social media ones like facebook and twitter aren’t included. This may turn off people who don’t want to share this information with the pool owners.
Once registered, you’re presented with a dashboard, and can start setting things up. The pool originally was set up to run a mining client for CPU’s and GPU’s, although these have been made redundant by ASICs. It does have a couple of different ways of monitoring your client, with in-screen and popout options, and a decent mix of information. However, it doesn’t feature 2FA as a security method.
The pool has a 1% fee, but has optional perks that you can get by increasing your donations, such as getting credited to your account before the block has confirmed. The pool also is still actively maintained with regular support, and an active presence on the forums. We had changed domain for our email address and had to email in the support address, and were very pleasantly surprised when within a couple of hours we got a friendly answer back and a solution to our login problem.
So in conclusion, Bitminter isn’t one of the biggest bitcoin mining pools on the network compared to when it started back in 2011, but having found over 6000 blocks in it’s time, and still doing so every day, it has a loyal base of users who are keeping it going, finding blocks regularly.
- Ease of Use
- Payout threshold
- Look and feel
- Earning potential
- Regularity of earnings
- Security options
Having mined over 195,000 bitcoins in it’s time, Bitminter has slowed down somewhat. However, it’s still finding blocks, and if you’re mining regularly at it, it can pay out pretty well compared to others – if luck is with you
Bitcoin Mining Company Vows to be Carbon Neutral Following Tesla’s Recent Statement
It goes without saying that Tesla took center stage last week when the company announced it would no longer support bitcoin payments for its electric vehicles.
The message seems to have resonated, as Greenidge Generation Bitcoin Mining has vowed to be carbon neutral in 2021 and beyond.
Carbon Neutral Bitcoin Mining
After announcing plans to expand its Bitcoin mining operations last month, Greenidge is now looking to go entirely carbon neutral this year and in the future.
The company is committed to the cause, and it plans to invest in US-based renewable energy projects.
According to a recent press release, the company will also take part in the Regional Greenhouse Gas Initiative, which is a market-based program where participants sell CO2 allowances through auctions and invest the proceeds in renewable energy and energy efficiency.
Speaking on the matter was Jeffrey Kirt, the CEO of the company, who said:
“Our bitcoin mining capability is already best-in-class and seamlessly integrated with our electricity generation that powers thousands of homes and businesses. By taking the bold and unique step of making or cryptocurrency mining fully carbon neutral immediately – as opposed to some distant date in the future – Greenidge is once again leading in environmental efforts.”
Musk’s Message Resonates
Greenidge’s announcement comes days after the leading electric vehicle manufacturer, Tesla, revealed that it would no longer support bitcoin payments. As a reason for its decision, the company cited environmental concerns related to bitcoin mining.
Elon Musk, the company’s CEO, confirmed and reiterated that he is bullish on crypto but so long as it doesn’t have a negative environmental impact.
The company also said that it’s looking for ‘greener’ alternatives to Bitcoin so that it can continue accepting crypto payments. This led to many speculations about which cryptocurrency it would choose. Shortly after, Musk said that he’s working closely with Dogecoin developers to improve transaction efficiency, causing many to believe that the meme-inspired coin might be Tesla’s choice.
There is something different this time around for MATIC and ETH
MATIC’s growth has been community and developer-driven. Trading at the $1.13 level and registering 27% gain in price in the past 24 hours, MATIC’s rally is an extended one, leading the altcoin season 2.0. However, there is something different this time around, MATIC is currently rallying alongside ETH, more as an ally, than a competitor. With ETH’s price above the $3700 level, and MATIC’s rally, the alt season has offered several opportunities, consolidating alts and rallies following closely after.
Since the release of the latest transparency report on Polygon Multisigs, Polygon has become more relevant and there is increased demand for the altcoin across exchanges. Multisigs are used by top projects that have the feature of updating smart contracts. This is not the case for Ethereum, since smart contracts on Ethereum are immutable by design ie. they can not be changed once deployed.
However, this feature also means that if there is an inherent error or potential exploit in the code, there is no way to fix it. Upgradeable contracts are needed and that’s where Polygon’s narrative fits in, making it a much-needed scaling solution and an upgrade on ETH.
The current network statistics for MATIC are looking bullish since there are over 65.8 Million total transactions in over half a million wallet addresses and at $10.4 Billion market capitalization. The trade volume has increased consistently since the beginning of 2021 and more buyers are lining up across spot and derivative exchanges.
The demand for MATIC and the number of transactions have increased and are expected to increase to the level of Ethereum before the end of the alt season. The increase in wallet addresses and unique users is a direct measure of MATIC’s demand as an L2 scaling solution for the #1 altcoin in the crypto market.
The competition with ETH is no longer as intense, considering the fact that ETH’s increasing popularity contributes to the network growth and inflow of investment to MATIC. MATIC’s transaction volume largely depends on ETH’s network and the fact that ETH needs a scaling solution despite the launch of L2, has led to a symbiotic relationship between the two altcoins.
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BSC Daily Transaction Rate Grows to 12 Million, 8X of Ethereum Network
Binance Smart Chain (BSC), the native network of the Binance network has registered another record in terms of daily transactions processed by the network reaching a massive 12 million mark today. What makes this record even more surreal is the fact that the current BSC transaction processing capacity is 8X the network capacity of Ethereum.
BSC gained a lot of popularity towards the end of March as the gas fee on the Ethereum network started touching ATHs that made many Defi protocols barely usable. The network congestion on Ethereum made BSC the go-to option for ERC-20 traders both Defi and spot traders. Ethereum network since then has recovered but in comparison still has a significantly higher transaction fee.
BSC has now become the go-to option for a majority of the new launching Defi protocols and many existing ones have also added cross-chain support. While many Ethereum proponents point towards the obvious centralized nature of BSC and amid growing popularity has also become the center of many rugs pulls and exit scams. However, despite the obvious shortcomings the efficiency of the network has made it the leading ERC-20 processor.
— CZ 🔶 Binance (@cz_binance) May 16, 2021
BNB Consolidating Under $600
Binance Coin (BNB), the native token of BSC which was launched as the utility token for the Binance exchange also benefitted from the growing popularity of the native chain as its price surged by 15X since February end. BNB was trading under $50 when the BSC frenzy began and reached a new ATH of $690 last week. The price of the altcoin is currently trading at $578 consolidating under $600. BNB also broke into the top-3 cryptocurrency ranking after its massive gains over the past couple of months.
BNB and BSC have emerged as the biggest gainers of the 2021 bull season as Binance continues to break into new markets and have an immediate impact.
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