# Exciting Update to the Bitcoin Private Voluntary Miners Donation Program

in #bitcoin3 years ago (edited)

# ►More updates from the Bitcoin Private Team◄

### This time we're getting a major update to the ZClassic Miner Donation Program

As many of you are already aware, the Bitcoin Private Team has set up a mining donation program in order to fund the most critical initiatives of the Bitcoin Private project's development.

I've seen a lot of very positive feedback about this announcement, however there were also some people who felt left out because they did not own a ton of mining equipment and wouldn't be able to receive this bonus. Now that the bonus structure has changed, there is a chance to receive a significantly higher payout per ZCL mined. I'd like to show you how you can participate in this initiative via Cloud Mining services! This eliminates the need for expensive mining hardware, but still ensures you receive the most BTCP possible for the upcoming fork.

## Here is how it works as of today:

Essentially, we will be having an auction system whereby 62,500 BTCP will be awarded in total to all miners in the program no matter how much ZCL is mined up to 50,000 ZCL total. In this way we allow miners to arrive at a fair market value for their contributions, while continuing to enable their support of BTCP.

Essentially, if you end up mining 1% of the total ZCL contributed, you would get 625 BTCP, no matter how much ZCL the entire pool donated. If you mined 10%, you would get 6250 BTCP, and so on.

So how can I calculate how much BTCP I have earned? Use this simple equation:

BTCP Earned = ZCL you mined for Fund x 62,500/(Total ZCL donated by pool)

Here are some examples of how this will work:

1. If 20,000 ZCL are mined at the end of the program, and you mined 100 ZCL, you would get 312.50 BTCP (10062500/20000)

2. If 30,000 ZCL are mined at the end of the program, and you mined 200 ZCL, you would get 416.67 BTCP (20062500/30000)

3. If 40,000 ZCL are mined at the end of the program, and you mined 300 ZCL, you would get 468.75 BTCP (30062500/40000)

4. If 50,000 ZCL (program cap) are mined at the end of the program, and you mined 400 ZCL, you would get 500 BTCP (40062500/50000)

If you have any questions, please feel free to reach out.

It's now even MORE profitable to dedicate hash power to this pool. Many of you may be familiar with websites like Nice Hash (which i'll be using in this example) but the process should be largely the same with any of these services you'd like to use.

## ••Step 1••

Create an account with Nice Hash, go to the "For Buyers" menu and click the "My Pools" option

## ••Step 3••

Enter the information as seen above, you'll need to enter the "username" as YOUR ZCL WALLET ADDRESS, and you may use any password you like. Click "Update Pool"

## ••Step 4••

Go to the "For Buyers" menu again, this time click "Marketplace" and click the "Enable Orders" button

## ••Step 5••

In the "Buying" section under the settings menu, click enable and then complete the email verification step

## ••Step 6••

Go to the "Wallet" menu and deposit BTC in order to pay for your Hash order

## ••Step 7••

Go to the Marketplace and click "Standard Order", choose the pool and enter the price. Then click "Place Order"

And you're done! Now you can sit back and let the the mining service do all of the work. Just keep in mind that your ZCL wallet address can be used to track your miners progress HERE, and that your BTCP will be credited to you after the fork is completed.

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Great and helpful article, you beat me to writing it!

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