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Bitminter Bitcoin Mining Pool Review

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than 2 dozen blocks during all of 2017, and only 2 blocks in 2018 so far, so the information in this article may be out of date as it was originally published in 2015.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

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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than 2 dozen blocks during all of 2017, and only 2 blocks in 2018 so far, so the information in this article may be out of date as it was originally published in 2015.

bitminter-logo

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.

Still standing
  • Ease of Use
  • Payout threshold
  • Look and feel
  • Earning potential
  • Regularity of earnings
  • Security options

Summary

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

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User Review

3.8 (5 votes)

Source: https://bitcoinsinireland.com/bitminter-bitcoin-mining-pool-review/

Blockchain

Bitcoin Price to $1 Million in 10 Years ‘Very Reasonable’ Says Kraken CEO

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With bitcoin currently enjoying a near 70% YTD increase, bullish predictions see the asset topping into a six or even seven-digit territory in the following decade. These projections came recently from Kraken’s CEO, Jesse Powell, and the Managing Director of Magnetic, William Quigley.

Bitcoin to $150K in the Next Year

Founded in 2010, Magnetic is an investment firm with a pro-cryptocurrency approach, having allocated funds in the industry as well. In a CNN appearance, the company’s Managing Director and Co-Founder, William Quigley, spoke about bitcoin’s future, price performance, and the impact of the COVID-19-induced financial crisis on the asset.

By referring to historical price developments after each halving, the executive forecasted a somewhat bullish projection that can take the cryptocurrency up to $150,000 in the following months.

“We are about half-way through the post-halving bull run, so, by my judgment, we have a lot more to go with bitcoin. Certainly – $100,000 and quite possible $150,000 by the end of this year or maybe Q1 next year.”

Quigley also touched upon the growing number of companies putting BTC on their balance sheet, which he classified as “huge.” He believes that the general narrative for corporations to allocate some of their trillions of dollars currently held in cash in government bonds is fading. Instead, they will continue to look for an asset with a finite supply, namely bitcoin.

He noted that the most critical issues for corporations are inflation and the diminishing of the dollar. In contrast, being a limited-supply type of asset, BTC could serve as a hedge with its decreasing inflation.

BTC to $1M, Says Kraken CEO

In another widely-bullish prediction, Jesse Powell, the CEO of the US veteran crypto exchange Kraken, said that the asset price is going to “infinity.”

When asked to specify in dollar terms what that amount would represent, Powell said that even reaching $1 million per bitcoin sounds “reasonable.”

“People that are believers in bitcoin see it’s going to replace all of the world fiat currencies, so that means basically whatever the market cap of the dollar is, the euro, all of that combined is what bitcoin could be worth.

In the near time, people see it surpassing gold as a store of value. So, a million dollars as a price target within the next ten years is very reasonable.”

He justified his quite optimistic prediction with the excessive amounts of fiat currencies printed by the US and other global superpowers following the COVID-19 pandemic. Additionally, Powell believes that the younger generations are keen to adopt the primary cryptocurrency, which could skyrocket its price.

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Source: https://cryptopotato.com/bitcoin-price-to-1-million-in-10-years-very-reasonable-says-kraken-ceo/

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Blockchain

First Major Rug Pull on Binance Smart Chain? Over $30 Million Drained

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  • Binance Smart Chain has become somewhat of a hot topic amid DeFi gem seekers in the past few weeks.
  • The network saw an influx of new projects, reminiscing of the early days of the DeFi craziness last summer.
  • In any case, hours ago, the community was shocked earlier today when news broke out that one of the newer protocols, Meerkat Finance, was drained.
  • Meerkat Finance is a yield farming protocol that runs on Binance Smart Chain, and a few hours ago, the team revealed that it was “hacked” and drained by 73,000 BNB and 13 million BUSD. The total number amounts to roughly over $30 million at the time of this writing.
  • It appears that the alleged hacker stole the money by changing the protocol’s smart contract using the original deployer’s account. In other words – the private key of the deployer contract must have been compromised.
  • The Twitter account of the project, as well as the website, have also been taken down, causing some to believe that the team rug pulled the entire thing.
  • Meanwhile, the official account of Binance prompted the community to provide any additional information they may have on the case.
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Source: https://cryptopotato.com/first-major-rug-pull-on-binance-smart-chain-over-30-million-drained/

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Parity To Educate Berkeley Students on Developing Blockchain Projects on Polkadot

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The popular DLT protocol Parity Technologies has partnered with Berkeley’s Blockchain Xcelerator program to provide educational panels for students in the university’s blockchain curriculum.

As part of the collaboration, Polkadot’s co-founder Gavin Woods will be a guest lecturer in the A. Richard Newton Distinguished Innovator Lecture Series.

Parity to Educate Berkeley Students About Blockchain

Parity Technologies, a core DLT infrastructure company, announced its latest partnership in a press release shared with CryptoPotato.

According to the document, Parity will employ its substrate blockchain-building framework to educate and work together with the university to raise “the overall awareness of next-generation blockchain technologies in order to promote adoption among students and the community at UC Berkeley.”

For the ongoing 2020-2021 academic year, Parity’s developer education team will collaborate with the faculty, students, and the community studying blockchain technologies in their respective coursework. This includes involvement in curriculum preparation, project ideas, and resources to “enrich the educational experience.”

Furthermore, Parity and the university’s DLT-oriented program called the Berkeley Blockchain Xcelerator will advise students and entrepreneurs on how to develop and eventually launch blockchain startups on Polkadot and Web 3.0 ecosystem.

Jocelyn Weber, an executive at the Berkeley Blockchain Xcelerator, said that the “work with parity and other Polkadot ecosystem startups had demonstrated the potential of this technology in educating our community.”

“We strive to expose our students to the tools and skills they will need to enter this space and immediately start making significant contributions – which is why improving their knowledge with tools such as Substrate and networks like Polkadot will be an important part of our curriculum development.” – Weber added.

Gavin Woods to Give a Lecture

The statement also outlined that Dr. Gavin Woods, the co-founder of Ethereum, Polkadot, and Parity, will give a lecture in the A. Richard Newton Distinguished Innovator Lecture series this month.

Wood commented that blockchain innovation is expanding at a rapid pace and has advanced “beyond legacy networks into next-generation, production-grade blockchains like Polkadot.” This makes it “critical” for the newer coders, engineers, and entrepreneurs to be able to take on the growing competition and develop ground-breaking projects.

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Source: https://cryptopotato.com/parity-to-educate-berkeley-students-on-developing-blockchain-projects-on-polkadot/

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