ViaBTC Shuts Down Contract Mining, Chinese Miners Relocating?
In a statement published yesterday, ViaBTC, the popular Chinese-based mining pool announced it will shut down its contract marketplace. It's the part of their business in which customers can "buy" hashpower and get the corresponding rewards. The end is nigh, as customers will have to "terminate their contracts by January 10th". Meaning tomorrow.
Correlating this with the news aired by Bloomberg a few ays ago, in which significant players in the crypto mining business are looking elsewhere, it all checks out. According to that news:
Bitmain, which runs China’s two largest bitcoin-mining collectives, is setting up regional headquarters in Singapore and now has mining operations in the U.S. and Canada, Wu Jihan, the company’s co-founder, said in an interview. BTC.Top, the third-biggest mining pool, is opening a facility in Canada and ViaBTC, ranked No. 4, has operations in Iceland and America, their founders said.
Seems like the glory days of China leading the Bitcoin mining trend are over. Or, to put it in a different light: seems like the days of crypto mining are over, and we may soon see the rise of new minting protocols.
Ethereum is already testing a PoS network for Casper, and STEEM / BitShares are using DPoS for over two years.
Slowly, the world realizes that "crypto" is not necessarily equal "Bitcoin".
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Good one, I really hope that PoW days will end soon...
I agreed. Upvoted.
I think it's very good news to go and create new jobs elsewhere in countries with cheaper energy.
This change was bound to come.It would be funny in a way if bitcoin would move to PoS :))
Sorry about being off topic, but what's going on with Steemit? What's all this I hear about retiring the old API and how that affects bots upvoting people?
And why does it say my reputation score is 25 when I go to my wallet? LOL
I think everybody is affected by that reputation bug, didn't have time to look into it, just realized that I myself have the same 25 rep number :)
As for the API changes they were announced a couple of months ago, and its part of the new migration towards a cleaner API. Since not all the nodes updated to the new API there is a bit of confusion about that, but I expect it to be solved during the next few days.
Bots not voting is most likely related to nodes not being upgraded. SteemVoter announced that it may take up to 1 week until they redeploy their infrastructure, so we may be in it for quite some time.
Sorry, not related to this but can you help me, please?
For a couple of days now, I have been getting the message of not having enough bandwidth and today, I had it again. This time when I checked via Steemd, I got;
0bytes/0bytes? Shoud I have overused something? If so, then should it have been 0bytes/somebytes? Also, it says, reputation 25 while on my page, it says 46.
Plus voting power on both steem.supply and steemd doesn't show to be the same. Which should I believe in?
It means you're interacting more than your current bandwidth allocation. Steem bandwidth is different from internet bandwidth and it's consumed every time you make a transaction (post, vote, transfer). The solution is to acquire more SP, either by buying it or by having it delegated to you by somebody else. Slowing down posting and commenting until you receive your due rewards will also help.
Got it!
Does the same go for voting power and reputation not reflecting to be the same?
reputation I don't know, voting power is calculated differently by each site. I think I got my calculations right, but with this confusion between STU and USD, I may have to revisit the display of it in steem.supply. The only metric which is not dependent on calculations is the percentage, which is taken from the blockchain. In steem.supply, I show the voting power at the current moment, including the regeneration that may have occurred from the time of the last upvote.
I'll keep checking then to see and from there I'd be able to fully understand. Sorry, I got ya too many questions!
Bitcoin is one of the biggest opportunities since the invention of the internet itseif....great times to be around..............................
informative post dear @dragosroua thanks for sharing this post.
I follow you and I like.. Thank you . Upvoted.
Excellent update news, very nice post thanks for sharing
Great and informative post dear @dragosroua thanks for sharing stay blessed.
Blessed to Follow you.