Primecoin is an innovative cryptocurrency, a form of digital currency secured by cryptography and issued through a decentralized mining market. Derived from Satoshi Nakamoto's Bitcoin, Primecoin introduces an unique form of proof-of-work based on searching for prime numbers.
Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
BTConline: Profitable Bitcoin Cloud Mining Pool Investment?
The blockchain technology has been flooded with several investment opportunities that promise incredible returns. But it is important to note that not all investments options that you come across are looking out for you; thus, we have taken the time to identify investment platforms you should stay clear of. This time around we are looking at BTConline, read on to find out why you should not be part of this platform. What Is BTConline? BTConline claims it is the leading Bitcoin mining company you can come across. All of the companies mining power has been backed up by physical miners, individuals who are mining with the latest mining algorithms in the market. But since this has not been tried and tested, we are a little skeptical about the platform. The company claims the services they are able to offer their investors make mining Bitcoins to be very simple for each investor. They go ahead and say with the help of their platform you will not need to buy any expensive hardware that will aid in your mining, plus you will not need to spend extra time trying to configure the mining servers. All you will need to do is select the mining plan you are comfortable with to start earning. BTConline Bitcoin Cloud Mining Conclusion The only problem with all this is the company has not gained the needed experience and also exposure in this volatile market. Looking at the return they are promising, does not sound feasible for a company that is still young in the market and does not have adequate systems and also a proper team with the adequate skills, factors that need to be put in place. In this regard, we strongly advise on investing cautiously.
Wd Mine: Are WDMine.net Bitcoin Cloud Mining Pools Profitable?
What Is Wd Mine? WD Mine is a cloud mining site that provides power options at a fee for the simultaneous mining of cryptos by adjusting the mining power to the value of each currency. Users get to purchase power in exchange for cryptocurrency payout form the mining profits. It provides for the power purchase at a price rate of 1Mh/s for USD 0.62, with the payout coming in the form of cryptocurrency. Wd Mine Bitcoin Cloud Mining Pool Features
Cloud mining- WD Mine will allow the users to invest any cryptocurrency, from which they will get double the value within a timeline of 2 days or at the investment withdrawal request
Affiliates- WD Mine provides for an affiliate program from where users earn 5% of the amount that the referees invest for their mining power
Web security- as a measure of securing users, WD Mine ensure data encryption for their login system to allow the protection of personal information such as name, email, and ID during site navigation
Coin options- the payouts or investment modes for WD Mine will include Bitcoin, Litecoin, Dogecoin, Dash and Reddcoin
How To Invest In Wd Mine Potential WD Mine investors will first have to create a wallet on the deposit page and choose the currency to use. From there, you would need to deposit a minimum value in the portfolio to verify your WD Mine account. With the balance, users can now invest in mining power by purchasing on the Buy-MH/s page with the relevant currency. If the currency is not suitable, you can still opt to exchange and invest the value balance in MH/s units. The final step will require one to access the account page and choose the coin to mine and start the operation. ** Wd Mine Pros & Cons Pros
No need for mining equipment
In-built calculator for profits estimation
Secure sign in
No additional costs for electricity expenses
Reduces chances of potential let down or redundancy in mining equipment
Users will not need to have technical knowledge on how to mine
Existing payout statistics provide for the authenticity of WD Mine
WD Mine delivers for mining power purchases at relatively low costs
Potential fraud activities
Opaque mining outcomes and operations
Contractual warning depending on the price of the cryptocurrencies and mining operationsPotential fraud activities
Wd Mine Verdict Cloud mining is not a new thing, and the sites usually offer many similar options of deposits and withdrawals. However, they all do require an initial investment, and consequently, this makes them logical to only pick one according to your budget. For WD Mine the biggest challenge is the opaque nature of the company behind it which present the notion of a scam waiting to happen. Opaque mining outcomes and operations Contractual warning depending on the price of the cryptocurrencies and mining operations
Bitcoin Mining Profits: Crypto Mining Hardware or Cloud Mining Pools?
Can Cloud Mining Be More Profitable Than Getting Mining Hardware For Bitcoin? The process of crypto mining demands a lot of preparation, no matter which cryptocurrency you choose. Mining Bitcoin (BTC), however, requires even more. If you are a Bitcoin miner, or you at least researched the issue, you probably quickly realized that this is quite a difficult process. There a lot of aspects of the process that need to be considered, like the Proof-of-Work’s mining algorithm, fees, and hashing power. Not to mention the extremely expensive equipment that is necessary in order to do it. However, there is another option which may be more profitable, and that is cloud mining. But is it really the best way to go? Let us find out. Bitcoin Miningining: Hardware & Cost Let’s start with the necessary mining hardware. In order to mine Bitcoin, you cannot just use anything, and in order to get a quality device, you will have to prepare quite a sum in advance. Bitcoin mining hardware can cost from a few thousand dollars to tens of thousands of dollars. The price largely depends on which crypto you wish to mine (in this case, Bitcoin), as well as how big of a mining operation you are planning. The cost of a mining rig depends on which one you want. You might go for an ASIC mining rig, or a GPU and CPU mining rigs. ASIC mining rig is usually far more expensive, and their hash rates are a lot faster. However, they are known for facing scrutiny due to the fact that you cannot repurpose them. Basically, if the hash algorithm of the blockchain changes, your ASIC rig will become pretty much useless, and you will have to acquire new gear. Obviously, this is the most expensive solution. GPU and CPU gear, on the other hand, can be re-purposed. The gear is also a lot cheaper, and much more acceptable than ASIC, which often finds a lot of resistance. This is why most miners choose to go for GPU and CPU instead of ASIC. Of course, there is always an option to have several mining rigs set up, in order to multiply your earnings. However, this means that you will have to acquire them first, which is probably the most expensive option. Even with several mining rigs working at the same time, it will probably take months before you can cover these initial costs via mining. Not to mention other factors, like the cost of an electric bill that is going to skyrocket as soon as you start your mining operation. The electricity cost varies depending on your location, which makes it hard to precisely calculate the cost of keeping the operation up and running. Cryptocurrency Cloud Mining Pools: Profitable or Not? Calculating the costs of cloud mining, on the other hand, is a much easier process. A lot of companies are using monthly subscriptions, with their cost being determined by the targeted crypto that the user wants to mine. Additionally, the cost of the model is also determined by the hash rate speeds. For example, taking a contract for 2 years of mining Ethereum with Genesis Mining can cost anywhere between $1,520 and $12,960, depending on the speed which can go from 40 MH/s to 360 MH/s. On the other hand, there is a website called HashFlare, which can provide you with a contract that lasts only one year, and it costs $1.80 for 100 KH/s. The fact is that cloud mining is expensive as well, and not that profitable at first. You will probably need more than a year to cover the cost of the initial investment. A lot of people don’t do their research properly, which is why they enter the process expecting to get rich in less than 6 months. This is, of course, never the case. Generally, cloud mining is not that profitable at all. Because of that, it is also not the popular way of crypto mining. Monthly subscriptions will always be there, but it won’t always be easy to pay them off. There are always the USB mining options but they are not very powerful. If you choose to go with the mining hardware, the costs will be upfront, and you will know what you are getting into. The cost of electricity will be a bit more difficult to predict, but if you can afford to perform your mining operation in parts of the world where the electricity is cheap, and mining is legal, you can actually make a pretty good profit much faster. source
Is Bitcoin.com's cloud mining pool a Trojan Horse for Bitcoin Unlimited?
I came across this article regarding Bitcoin.com's new cloud mining service: https://news.bitcoin.com/bitcoin-coms-cloud-mining-allowing-anyone-mine-bitcoin/ The rates & fees seem very competitive and I'm struggling to see a reason not to invest. Which got me thinking. Is Roger Ver attempting to buy the activation of Bitcoin Unlimited by offering a no-brainer cloud mining service that everyone will flock to?
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