BTCC Indefinite Mining Pool Shutdown

BTCC Indefinite Mining Pool Shutdown

By 15 November BTCC’s mining offshoot will shut down its entire mining servers, and by 30 November operations will halt until further notice

BTCC Pool released an announcement notice on the indefinite shut down of its mining pool. The shutdown of operations is caused by business adjustments needed to be made by the company. Profits will be received by miners ‘in time’.

Though operations will be halted indefinitely, BTCC is resolute that the blockchain industry, together with cryptoassets, will continue to evolve and be improved. Also, BTCC Pool implied they will be back.

There will be echoes, we will see you again!

BTCC Mining Pool

On BTCC Pool

Launched in 2014, the mining offshoot of BTCC cryptocurrency exchange has embarked on supplying miners with transparent, safe, and fair crypto mining service. At the same time, the mining offshoot said it promoted blockchain advancement.

The Highs and Lows of the Mining Business

With the fast movement of technology and the prolonged crypto-bear market, cryptocurrency mining businesses struggled to attain their projected profits throughout the year. Because of this Nvidia decided to leave the manufacturing of mining equipments and Bitmain received mixed publicity on the firm’s financial status.

But some companies, including Bitmain, continues to develop mining-related rigs. Yesterday, 6 November, Finrazor reported that Bitmain released two new Antminers with 7nm Finfet and AMD partnered with eight tech firms to produce a range of new generation mining equipments.

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BitcoinHD Appearance at Consensus 2019 NY, Revolution in the Mining Industry?

Consensus 2019 was held in New York from 13th to 15th May. It is a grand event for all practitioners in the global blockchain industry. It brought together financial giants, blockchain start-ups, academic institutions, and regulatory authorities. In the three days, participants enjoyed the opportunity to network and exchange opinions with industry leaders on the topics of blockchain application use cases, technology development and policy supervision, etc. BHD’s appearance at the conference attracted the attention of many industry peers. It makes us wonder if the hard-disk mining could be the next best thing – would it bring destructive innovation to the traditional mining industry currently dominated by ASIC miners? As we know traditional mining is facing some serious problems at present: Centralization of Hash Power: the top 6 mining pools in the world account for more than 50% of the total hash power, individuals can hardly compete with those giants. It is now very difficult for ordinary newcomers to join the mining industry; ASIC Miner Monopoly: the world’s largest miner-manufacturer – BitMain, takes up more than 60% of the market share; Massive Energy Consumption: The annual power consumption of the BTC network currently exceeds the total power consumption of more than 100 countries. (There is gold hidden in the bag) BHD is a new cryptocurrency based on Conditioned Proof of Capacity (CPOC). It uses the hard disk as the consensus participant, reduces power consumption and entry barrier, generates credit and value through mathematical algorithms and distributed mining. The production of cryptocurrency becomes more decentralized, secure and credible so that everyone can mine with ease. At the consensus meeting, BHD was invited by many organizers,  BHD at the Bitmart venue.:2019 block plus summit series 2 【NEW YORK BLOCKCHAIN WEEEK 】 BHD at the Bitmax.io venue:GLOBAL DIGITAL IMPACTNIGHT “New consensus, New Era” hosted by BHD community The “New consensus, New Era” event hosted by BHD community and co-sponsored by Hpool, HDpool, 51ASIC and BitATM happened on 14th May in the Hilton NY. Gary Chang, Hpool COO, and KOL of the BHD community mentioned in the meeting that the POC consensus adopted by BHD will surely bring an all-new era for mining. He mentioned that compared with ASIC mining, the cost of hard-disk mining is much lower, hard disk is also the most decentralized mining hardware in the world. He called on all people to participate in the POC ecosystem as he believes POC can truly realize the original vision of Nakamoto’s one person, one vote. At the same time, Tao Quming, Vice General Manager of Wanxiang Blockchain; Eric, Vice President of Bitmart; Dr. Cao, co-founder of Bitmax.io and David, founder of the French Crypto Currency Association Club, spoke at the event to express their recognition of and support for the BHD ecosystem. It is believed that the unique mining method and economic model make BHD a black horse, as more POC currencies will emerge in the next decade, BHD will soon become the “BTC” of the POC ecosystem. We believe that the innovation of consensus is inevitable, and the change may happen to start from the most fundamental protocol. Will BHD bring revolution to the industry and redefine mining and consensus? We will have to wait to see the answer The post BitcoinHD Appearance at Consensus 2019 NY, Revolution in the Mining Industry? appeared first on ZyCrypto.
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Bitcoin History Part 13: The First Mining Pool

The notion that anyone could solo mine bitcoin – on a CPU no less – seems positively quaint today. But in 2010, this method wasn’t just possible – it was the norm. With an exponentially lower hashrate, less competition and a 50 bitcoin block reward, there was enough pie for everyone to get a bite. But some miners didn’t just want a bite – they wanted a whole slice, and to achieve that, they decided to join forces and pool their hashpower. And thus “cooperative mining” was born. Also read: Bitcoin History Part 12: When No One Wanted Your BTC Bitcoin’s Pool Birth If Bitcoin is a revolution, it is one which contains a series of micro-revolutions. In late 2010, Bitcoin was to experience its first industrial revolution when a few miners agreed to combine their hashing power. In that moment, history was made, and in the years to come, so was a lot of money. Not everyone was enamored with the idea, though, when it was first floated by Slush on November 27, 2010. “Once people started to use GPU enabled computers for mining, mining became very hard for other people,” he explained. “I’m on bitcoin for few weeks and didn’t find block yet (I’m mining on three CPUs). When many people have slow CPUs and they mining separately, each of them compete among themselves AND against rich GPU bastards ;-).” He continued: I have an idea: Join poor CPU miners to one cluster and increase their chance to find a block! Slush added: “Advantages? When you have poor standalone computer, you need to wait many weeks or even months for finding full 50BTC reward. When you join cluster like this, you will constantly receive small amount of bitcoins every day or week (depends on full cluster performance) … I think it is extremely important for bitcoin economy to diversify mining across whole network and not leave mining on few lucky guys with fast GPUs.” Skeptics Were Skeptical But the Believers Believed Reaction to Slush’s bold proposal was mixed. Some bought into the idea, while others were distinctly unimpressed. “Isn’t cooperative mining a form of communism?” responded one Bitcointalk user. “I think it’s useless and much harder to do than one might think.” “This is fundamentally flawed,” snapped another pooled mining opponent. Slush remained undaunted, though, and within three weeks of his proposal, “cooperative mining,” as it was then known, began. Slush Pool was compatible with Jeff Garzik’s bitcoin CPU miner at launch as well as a couple of early GPU miners. “There is already ~600000khash/s [600 MH/s] of power and more will come tomorrow,” proclaimed Slush. He wasn’t wrong. Today, Slush’s cooperative mining Bitcointalk thread has grown to 1,148 pages, and Slush Pool, which currently captures 9.3% of the BTC network hashrate, has also grown spectacularly. Since 2010, it’s mined over 1 million BTC and now boasts 8,500 miners and a hash rate of more than 5 EH/s – an increase of 8.4 billion X in nine years. Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first and finest cryptocurrency. Read part 12 here. Images courtesy of Shutterstock and Blockchain.com Did you know you can earn BTC and BCH through Bitcoin Mining? If you already own hardware, connect it to our powerful Bitcoin mining pool. If not, you can easily get started through one of our flexible Bitcoin cloud mining contracts. The post Bitcoin History Part 13: The First Mining Pool appeared first on Bitcoin News.
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