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Discus Fish (aka F2Pool) Bitcoin Mining Pool Review

May 2018 update – Discus Fish / F2Pool remains a leading bitcoin mining pool, and since this review has expanded to cover SC, DASH, XMR, XMC, DCR, XZC, XVG, LTC, ZEC, EH, ETC, A look at Discus Fish Mining Pool (originally published December 2014) 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

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May 2018 update – Discus Fish / F2Pool remains a leading bitcoin mining pool, and since this review has expanded to cover SC, DASH, XMR, XMC, DCR, XZC, XVG, LTC, ZEC, EH, ETC,

discus-fish-f2pool-review-logo

A look at Discus Fish Mining Pool (originally published December 2014)

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.

So now that we have our quad Antminer S1s up and running in with about 650ghs in BitcoinsInIreland towers, we have been looking at our options for our reviews with some meaningful hashing power. While looking through the various pools, and the overall market share over on Blockchain, and rising in prominence throughout 2014 has been the Chinese mining pool, F2Pool, better known in the Bitcoin mining world as the Discus Fish mining pool.

Discus Fish operates using a PPS (Pay Per Share) reward system, taking a 4% fee. They mine Bitcoin and Litecoin, depending on your preference. They also merge mine three additional coins, UnitedScryptCoin, Huntercoin and PesetaCoin. The pool utilises the Stratum mining protocol, and vardiff so difficulty will adjust based on your hashing power. Their servers are based in Beijing, Qingdao and Hangzhou in China.

So hitting the first page of the pool, you are presented with a minimalist set of options.  After registering and activating your email address, you can proceed to add in a worker automatically using yourusername.something and pointing to their servers. If you have a few different machines, it’s best to name these separately. The pool doesn’t send alerts for workers that go down, unlike some of the American and European pools, but offers another team/company who offers this service, although we didn’t try this in this review.

Once your miners have submitted a few shares, the rather sparse screens give you really basic information. Some graphs showing your average hashing speed, and your current earnings, paid earnings, and cumulative earnings – that’s it! The display values also don’t update dynamically, but if you hit refresh every few seconds  you will see the amounts tick up bit by bit as each share is counted. Now one of the things I do like about Discus Fish is that they have a very low payout point. Most of the pools I have tried have at least a 0.01 BTC automatic payout, although some will let you manually withdraw over a threshold, with a fee. In reality, this means it can be days or weeks before you hit a payout threshold.

But Discus Fish is set to automaticaly payout when your 24 hour earnings go above 0.001 BTC and seems to round to the nearest 0.0001. Their site states that they work off midnight UTC, so payouts up to this time are dispatched several hours later the following morning. For us, we -started mining about 10pm, and had our first payout at 4.39am the following morning, So if one of your goals is to have a bitcoin wallet that is growing bit-by-bit. day-on-day, then this is a good option for you. Just note that earnings that are in accounts inactive for 90 days are donated to the pool.

Securitywise, the site operates with https, and lets you have the option to lock your bitcoin wallet address to an account, to prevent it being changed in the event of your account being hacked. The site also doesn’t let you change your email address, but also doesn’t seem to utilise email verification for actions, unlike the other pools. So make sure you pick a strong secure password.

So in conclusion, while the interface of Discus Fish leaves much to be desired, you can’t fault their ability to generate blocks, and any half decent amount of hashing power pointing at them will generate regular amounts lodged to your wallet. An ideal pool for small-scale miners who want to be able to access their bitcoin funds in days, not weeks, and the PPS fee may be high compared to other pools, but they pay out for orphan block and don’t have the swings in luck that other pools can have, giving you a degree of regularity in calculating your mining rewards.

Update 1st October. UnitedScryptCoin merged mining support was announced as being dropped. Updated minimum payout from 0.0005 to 0.001

Simple but effective
  • Ease of Use
  • Payout threshold
  • Look and feel
  • Earning potential
  • Regularity of earnings
  • Security options

Summary

A minimalist interface currently controls nearly 1/4 of the world’s mining rewards, and is one of the few still using a Pay Per Share system. Higher fees than others are offset by regular payouts and a really low payout threshold, making this great for small-scale and occasional miners, as well those commanding much higher amounts of mining power.

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User Review

3.89 (9 votes)

Source: https://bitcoinsinireland.com/discus-fish-aka-f2pool-bitcoin-mining-pool-review/

Blockchain

Elon Musk’s latest Dogecoin ‘trolling’ isn’t impressing the crypto community

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Tesla and SpaceX CEO Elon Musk argued on Twitter today that Dogecoin (DOGE) can beat Bitcoin (BTC) “hands down,” with just one small condition—almost every DOGE’s fundamental aspect needs to change, effectively turning it into a different token altogether.

So no big deal then.

“Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down,” Musk replied to a Twitter user who was arguing that “Elon is choosing $DOGE because Dogecoin is better than Bitcoin in many fundamental ways.”

Judging by the community’s reaction, a lot of users were left feeling unsure whether Musk was “trolling” or not. One commenter pointed out that if Dogecoin’s blockchain would produce 10-megabyte blocks every six seconds, this will make the network vulnerable to spam attacks.

“For those bad at math. 100X higher transaction volume with 100X lower fees means total fees earned stay same. Low fees & high volume are needed to become currency of Earth,” Musk retorted.

When asked why he won’t just make a completely new cryptocurrency that can satisfy these technical requirements, Musk explained that it’s a “big pain in the neck to create another one.” Still, he implied that this is also a possibility, but “only if Doge can’t do it.”

In his turn, Adam Back, CEO of Bitcoin development firm Blockstream, questioned Musk’s blockchain expertise in general.

“That’s not how any of this works, Elon Musk. Would be like someone wading into SpaceX with ideas for a cuboid rocket fueled by water,” Back wrote, adding, “He’s just trolling. And probably hitting a blunt.”

Other users were less lenient, arguing that if “Donald Trump has been banned for ‘being bad’ for people,” there is no reason why Musk “should keep having this privilege.”

In general, many commenters pointed out that for a blockchain network to drastically increase its throughput and scalability, it needs to make compromises in other areas such as security and decentralization. 

“Have you tried making your spaceships 10x lighter, and 10x faster, and also 10x bigger? This would ideally save on energy and efficiency,” another user ironically asked Musk.

In the end, regardless of whether Musk was actually joking or not, his behavior on Twitter—especially when it comes to cryptocurrencies—has been a bit over the top lately, some commenters argued.

“Because [Musk] has millions of newcomer users who may not know the difference. Funny trolling to him = rekt newbs in real-life,” Back concluded.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptoslate.com/elon-musks-latest-dogecoin-trolling-isnt-impressing-the-crypto-community/

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Blockchain

Bitcoin Hashrate of Major Chinese Mining Pools Drops Rapidly

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Bitcoin network’s hashrate recorded a rapid drop today across major Chinese mining pools including f2pool losing 11.26% a spool lost 16.23%, Binancepool recorded a decline of 14.38%, and Huobipool lost 23.68%. The rapid decline is being attributed to another power outage in Sichuan province. Industry insiders claimed the decline might be temporary and might bounce back soon.

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Merchant Token

The decline in the mining pool’s hashrate comes days after the Bitcoin network’s mining hash power reached a new ATH. Bitcoin price on the other hand continued to consolidate under $50K. The top cryptocurrency saw a major sell-off a few days ago amid growing inflow on exchanges aided by Elon Musk-led Bitcoin network’s environmental impact FUD.

Bitcoin has been in a consolidation phase for over a month now after reaching a new ATH of $64,837, it recorded a sharp correction soon after falling over 20%. The recent sell-off was attributed to several factors including declining institutional interest.

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Will Bitcoin Price Suffer?

A similar power outage in China last month saw the Bitcoin mining hash rate drop by over 25% leading to another major market sell-off. The last hashpower fud was also marred into a lot of controversies as many claimed different reasons for the power outage and the amount of hash power decline.

Bitcoin price is currently trading just under the $49K mark with a 2% decline over the past 24 hours. With every major sell-off in the market, many have called it a short-term price top, but on most occasions, bitcoin has defied the odds to bounce back to new ATHs. On the other hand, Bitcoin adoption has continued to flourish as many public companies have announced Bitcoin purchases over the past month. Apart from Bitcoin, manor altcoins including ethereum, Litecoin have also registered a minor decline falling over 5% in the past 24 hours.

To keep track of Crypto updates in real time, Follow us on Twitter & Telegram.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingape.com/bitcoin-hashrate-major-chinese-mining-pools-drops-rapidly/

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Blockchain

Coinbase finally releases a timeline for listing Dogecoin

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Since Coinbase’s direct listing, it released the transcripts of its Q1 Earnings Call. During the call, the company addressed its plans of listing Dogecoin (DOGE), thanks to its ever-rising demand.

Coinbase‘s CEO Brian Armstrong talked about the exchange’s plans for the memecoin. He stated:

“So, to answer your question directly, we plan to list DOGE in the next six to eight weeks. And then more broadly, we’re going to be focused on how we can accelerate asset addition in the future.”

With regard to queries on what parameters were used to qualify various coins or tokens to add to the exchange and why there weren’t more choices? Armstrong stated:

I think there’s going to be millions of different crypto assets out there, especially as we see new assets being created for new companies being created and there’s even NFT’s and individuals who are tokenizing their time and so in a world where there’s going to be millions and millions of these crypto assets out there, we get this question a lot, how are you deciding, which ones to add, and how can you accelerate it?

Without directly alluding to XRP, the digital asset that has been entangled in a legal battle with the SEC, Coinbase CEO also stated that Coinbase had worked with CRC to create a regulatory framework for coins. He added:

So, today, we use a number of factors, we look at cybersecurity around the coin to make sure that there’s not going to be an issue that would cause customer loss. We also look at it from a legal point of view and a compliance point of view. There’s various concerns out there about securities, for instance, and we’ve worked with things like the Crypto Rating Council to help create clear regulatory frameworks for this.

Data from ICO Analytics stated that the total web traffic for crypto exchanges had increased by 43% over the past month.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/coinbase-finally-releases-a-timeline-for-listing-dogecoin

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