Minerall Summary December 2018

Hello, dear friends!

Last year is in the history and we’re glad to present you a tiny summary of our goals from December.

New Partner of MINERALL.IO: EXMO

We’re proud to introduce to you our new partner: EXMO cryptocurrency exchange platform. Our miners can easily change coins and altcoins (such as Dash, Dogecoin, Waves, Zcash, Monero, KickCoin, etc.) for fiat. Enjoy!

New Partner of MINERALL.IO: CEX

CEX.io — exchange platform for classic cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple. We hope that our cooperation will help our miners to make more profit from mining in Minerall.io!

BITCOIN  (BTC) IN MINERALL.IO!

We know that you want it, and now you can mine BTC as easy as a pie in our mining pool. Want some more info? Check our manual

Russian version of MINERAL.IO site

Minerall.io aims to be clear for everyone. That’s why we made Russian-language version of our site. Now miners from Western Europe can use our capacity even they didn’t know English.

Well, see you next summary for January!

New Partner: MiningRigRentals

We are pleased to present you our new partner — MiningRigRentals. Mining Rig Rentals (MRR) gives you the opportunity to rent or to rent out a mining capacity.

What is cooperation for?

Minerall.io is listed in the mining pools compatible mining pools list of MiningRigRentals. It means that each of our users can sell or buy power at the MiningRigRentals. On the other hand, all customers of the exchange have free access to the Minerall.io mining pool.

How can the exchange be useful to our users?

MRR is an integrated platform to rent or hire mining equipment. On the Mining Rig Rentals pool, you can mine cryptocurrency using algorithms:

  • SHA256;
  • X11;
  • NeoScrypt;
  • X13;
  • Quark;
  • Lyra2Rev2, etc.

Users can pay in Bitcoins and Lightcoins for renting power on the Mining Rig Rentals platform. There are several qualities that distinguish mining at Mining Rig Rentals from similar platforms. First of all, when choosing equipment for rent, the user can base his choice on the current hash rate, and on the overall history of the mining.
The advantages can also include the possibility of a mass lease of up to 27 installations, and the available backup pools (5 items).

Result

MiningRigRentals is a convenient solution for beginners. The purchase of capacities will help save money and time for those who don’t want to delve deeply into the theory of mining. For those who are seriously engaged in mining, MRR is a good hub that fully supports Minerall.io.

 

Weekly News Digest (07.01-14.01)

Happy New Year from Minerall.io!

We are back in touch and have prepared for you the latest news from the world of cryptocurrency. We can say with confidence that the year has begun very intensively. So, let’s begin.

10 Years of Bitcoin Power

In early 2009, the first bitcoin was mined. What happened during this time? Read more

BTC and Dow: better fall together

The week starts epic — Trump blames Democrats for low rate in exchange. Read More

Hostage vs.BTC: what happened?

The story of the abduction of an American and the demand for a ransom of $ 1 million in cryptocurrency continues. Read more

Japan doesn’t want to be friends with Bitcoin ETF

Despite the fact that the economy of Japan is actively using cryptocurrencies, the government are in no hurry to open all the doors for it. Read more

Will Constantinople be taken?

Tomorrow will start Constantinople, a new hard fork of Ethereum. What we can expect from it? Read more

What’s all, folks! See you next week in Minerall.io weekly digest.

History of mining (part 5): Avalon Project and Butterfly Labs

Minerall.io continues the Friday-time texts that can brighten up the evening and tell you about evolution of a mining tech. This time we will tell you about two essential companies whose development helped modern mining to gain a face.

Avalon Project

According to users, the company called that way because of Yifu Guo, the creator of the Avalon Project. His aim was West world, where is a whole layer of pop culture is associated with Avalon.

Cunning Asians, under the leadership of Mr. Guo, correctly approached the issue of marketing, and almost immediately after the renovation (in September 2012), began to produce limited lots with high costs. It creates demand, excitement, and hype around Avalon products. The first batch had severe characteristics: miners were designed according to the process of 110 nm, hashrate at overclocking was 82-88 Gh/s, and energy consumption was 700W.

In total, the first generation of Avalon products had three stages.

Butch №1 hit the market at the end of September 2012, almost immediately after the Avalon Project announced its existence. Then the cost of ASIC miners was equal to 1,300$, and the products didn’t cause strong demand. However, miners were received by the owners in March 2013. Devices paid off in a few days and began to bring profit. These first lucky ones pulled a whole crowd of people behind them.

The next batch consisted of 600 devices and cost 1500$. The cost increase didn’t affect the demand, and the whole lot was sold out in the first week. Devices paid off, although they caused a discontent due to the delay in delivery and being used.

The third batch (it was the last), consisted of 600 machines, was not so popular. The reason was simple — it cost 75 bitcoins (at the rate of 100$), and that was about five times more expensive than the devices of the second batch. In this case, customers received a few months after ordering. By the time the miner is received, it is already outdated, and the complexity of mining has increased several times. Almost all owners of Avalon Project products of this period mined at a loss without paying for the purchase.

Despite the crushing failure, miners of Avalon remain on the market, but without such a resounding success. According to testers, one of the main drawbacks of the miners of this company is the use of a weak TP-link controller with a lot of freezes and bugs.

Butterfly Labs

Next in line is BFL, a company known for its strange attitude towards customers. Company’s name became the talk of the town among miners. Butterfly developed the pre-order program for ASIC miners and successfully used it. As of June 2012, BFL was selling the following models:

Jalapeno for 149$ and performance of 4.5 Gh/s
SC Single for 1299$ and performance of 60 Gh/s
SC MiniRig for 30,000$ and performance of 1,500 Gh/s

Pre-orders collected a quarter of a million dollars. Characteristics of the devices were top-of-the-pop: a chip with 65 nm process technology, energy efficiency of 0.9W per 1 Gh/s. There were no limits to the miners’ delight. But time passed, and the delivery time was postponed. Also changed energy efficiency and power. Just two weeks, the catchphrase, meaning an “unknown date”, entered into the miners’ glossary thanks to the BFL public relations department. That is how they responded to angry customer messages.

To get the ordered Jalapeno, miners had to wait almost a year, until June 2013. And against the backdrop of competitors, the equipment is entirely outdated.

BFL tried to get out of the situation and presented Monarch, a video card device that can be inserted into a PCI-e slot on a PC. According to the promises, it had to give 300 Gh/s for a device worth almost 1500$. Monarch with a surcharge was offered to those who are still waiting for their orders. The company fell massive claims and four months after Butterfly was closed during the trial. After the company was allowed to return to the market, some customers received a refund. After that, the BFL closed completely.

This fact concludes our Friday material and Minerall.io invites you to join us next weekend for a new historical reading. See you again!

Weekly News Digest (17.12-24.12)

Hey boys and girls! We have special news delivery for you: check out our weekly digest from the world of crypto by Minerall.io!

Bitcoin: shut up and take my money?

Difficulty of mining BTC drops for 7% last week but the price is rising up for 3 800. Read more

Mine all mine: will crypto alive next year?

Forecasts of experts are still different: someone guarantees an unprecedented rise, someone — the collapse of bitcoin. What do you think? Read more

Western Union want to play with Ripple

Western Union actively watched about the blockchain and cryptocurrencies. Now WU testing Ripple work. Read more

Coin for likes: Facebook’s crypto

The largest social network is working to create its stablecoin. But now only in India. Read more

Bitmain: thumbs up for fire

There are significant orders of departments responsible for working with BCH (about 50 people) in the crypto giant on the weekend. Read more

Canada is a crypto paradise

Government and representatives of the energy sector say that Canada is the best place on Earth for mining. Read more

That’s all, folks. See you next week!

New Partner: CEX

We are pleased to present you our new partner — CEX cryptocurrency exchange.
CEX provides an individual approach to each customer, worldwide coverage, multiple payment options, and 24/7 support.

What is this cooperation for?

We give to exchange an opportunity to work with miners who mine cryptocurrency on Minerall.io. In addition, in the second half of 2017, the client base of the exchange exceeded 1 million users. This will allow exchange customers to gain access to the Minerall.io pool facilities.

How can the exchange be useful to our users?

On the stock exchange, Minerall.io users can buy or exchange main cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple, Stellar and Zcash. This is one of the most simple and convenient ways to buy cryptocurrency with a credit card.

In August 2016, a second-level PCI DSS certificate was obtained that allows operating with most of popular payment systems.

We hope that cooperation with the CEX exchange will allow Minerall.io users to simplify the exchange and sale of cryptocurrencies as much as possible. Get pleasure from mining with Minerall.io and CEX.

New Partner: EXMO

We are pleased to present a new partner of Minerall.io: EXMO cryptocurrency exchange. It is one of the most popular platforms with wide opportunities for trading and exchanging crypto coins.

There are two types of miners. Some of them want to keep income in the currency it was mined. Other ones want to exchange cryptocurrency BTC or alt-coins and even to transfer them to fiat through exchanges.

What makes this exchange interesting?

EXMO is one of the trading exchanges where a rather large number of currency pairs is represented — there are many altcoins (more than 20) that aren’t so easy to find on other exchanges.

What benefits does each company gain?

Both parties are interested in this cooperation. As our mining pool focuses efforts on creating the technically best service on the market, without being sprayed on additional services. We’re making a great pool, so we are interested in using the solutions of partners, in particular — EXMO, for our users’ convenience. In return, Exmo is interested in cooperation for quite logical reasons: the mining pool is a service of mining coins and our miners present the exact target audience of the exchange, in order to increase order books’ liquidity level.

Why users might choose EXMO?

There are many currency pairs on the stock exchange, if you are interested in specific coins, then they are most likely in the listings.

Features

Deposit methods: Bank transfers (Visa, MasterCard), Capitalist, Yandex Money, AdvancedCash, Okpay, Money Polo, Payeer, cryptocurrency (Etherium, Dash, Dogecoin, Litecoin, Bitcoin), etc.

Withdrawals: Bank transfers (Visa, MasterCard), Capitalist, Yandex Money, AdvancedCash, Okpay, Money Polo, Payeer, cryptocurrency (Etherium, Dash, Dogecoin, Litecoin, Bitcoin), etc.

Asset types include Etherium, Dash, Dogecoin, Waves, Zcash, Monero, KickCoin, BitcoinCash, Ripple, Litecoin, Bitcoin, etc.

We recommend using EXMO to receive quite good profit from altcoins. This exchange will be a good way to trade and sell coins, mined in Minerall.io.

800,000 miners left crypto market: true or false?

Answer by Igor Stadnyk, CEO Minerall.io

— Mao Shixing, founder of F2Pool Mao Shixing, said that market has already left 600,000-800,000 miners since the collapse. Do you think the situation is really so terrifying? How do you think the situation affects miners?

— Mao is partially right. Production of ASIC miners began in 2011 and continues to this day. And like any equipment, it becomes obsolete. And like any equipment, miners have their own profitability limit and efficiency limit. If you compare it with computers, imagine some sort of news that several million PCs went to the dump this year. Will this be a tragedy? No. Technologies simply become obsolete and simply replace outdated equipment.

Mao posted on his Tweeter the table explaining what hardware is unprofitable to beckon at a price of 6 cents per kW/h. And, there are a sufficient number of models for mine is no longer profitable. Mao most likely means devices, not people. For example, if we are talking about the old Bitmain Antminer S7 and S5, we should know that their time is running out.

— How many miners can refuse activity with a further fall in the BTC rate? Can it be the end of cryptocurrencies’ decentralization?

-The further the price will fall — the more will refuse. This concerns, first of all, the old miners with low power. It does not threaten decentralization: Bitmain sells equipment very massively and at a current price pegged to the cost of cryptocurrency, not to the price of hardware.

— Some experts have argued that it is profitable for miners to mine cryptocurrency only at a price of 7,000$. And how do you think, at what price of BTC the coin is unprofitable?

— Price of Bitcoin is influenced by such factors as a price of electricity, price/efficiency ratio of equipment. We know which ASIC gives out Th/s, how much it consumes. Miners of the new generation, such as S9 and S15 from Bitmain, for example, are advantageous when the price of electricity is from 6 cents per kW/h and the price of Bitcoin is from 3,800$. There are ASIC-machines, which are profitable at the cost of electricity from 2,000$ and above. A real value, in fact, doesn’t exist.

— What do you think, what cryptocurrency is currently the most profitable to mine? Why?

— Profitable to mine all coins, but in different ways. Depending on electricity price and cost of hardware. You just need to understand what result you want to achieve and on what kind of machines.

Bitcoin in Minerall.io


The main coin of crypto-world in our mining pool. If you don’t know, this currency has celebrated its decade, and now it is falling steadily. Some experts say, that in January 2019 its value will grow up again and may reach $ 300,000 or more by 2022.

In 2008, a person (or group of persons) with the nickname Satoshi Nakamoto published in open source a file with a description of the protocol. In 2009, he completed the development of the protocol and published the code of the client program.

The first bitcoin transaction was on January 12, 2009 — Satoshi Nakamoto sent 10 Bitcoins to Hal Finney. You probably know the story after that.

Forecasts

Bitcoin few times lost more than 60% of value. At the same time, almost immediately after the fall, a sharp increase occurred. Look at the chronology of the BTC fall:

June — November 2011: from 32$ to 2$ (–94%)

June 2012: from 7$ to 4$ (–36%)

April 2013: from 266$ to 54$ (–79%)

November 2013 — January 2015: from 1166$ to 170$ (–87%)

September 2017: from 5,000$ to 2,972$ (–40%)

January 2018: from 19,000$ to 7600$ (–60%)

That is why many experts are confident that in the next few months the price of BTC will rise again. Digits proof that now is a perfect time to mine bitcoin with Minerall.io!

MINERALL.IO NOVEMBER 2018 UPDATES SUMMARY

Hello, dear friends!

Autumn is over and we like to introduce you a fresh part of our updates. Check it, if you don’t want to lose something really interesting!

RAVENCOIN IN MINERALL.IO

First one is about RVN. Know it? Want to mine it? Now you can do it in Minerall.io with full support. Read about this cryptocurrency in our blog.

HOW TO TEST POOLS

If you wanna know how to test mining polls, check this article — it will be helpful. Enjoy! Yet have some questions — ask us!

ACTUAL HASHRATE OF MINERALL.IO

The following news will be useful for those who are not sure that you will have a good hashrate on our pool. Read more — we’ll show you!

BITCOIN CASH (BCH) IN MINERALL.IO!

Good news for BCH-lovers: now you can mine this coin in our pool! Don’t know, how to mine it? Read our manual

BTW: If you thinking about how to mine the mighty BTC, read another manual about Bitcoin

ETHEREUM CLASSIC IN MINERALL.IO

And the last news for this summary is about Ethereum Classic. Yes, now you can mine it in our pool with pleasure. Want to know more — check the article about Ethereum Classic in Minerall.io!

ASIC PORTS ARE OFF

After a number of tests, we’ve turned off ASIC ports. You won’t be able to connect to them anymore. According to our experience, ESM0 protocol is not safe. If you still would like to use it, contact us, we’ll learn your case.

Well, see you next summary for December!