Crypto 'Mining Pool' Basics & How to Avoid the Skullduggery



Why would you join a cryptocurrency mining pool — that is, purchase a mining contract? And how can you parse the legitimate operations from the scams?

23 Comments

  1. Good insights! Another important thing to know about contract mining is that the return they quote doesn't take into account fluctuating prices and difficulty. I've started developing some side-by-side comparisons to help shed some light on more realistic return prospects. It's a work in progress, but if you take a look, I'd appreciate your feedback – http://www.how-genesis-mining-works.com

  2. Weighing in on the cryptocurrency mining, my experience has been exceptional with over 400 of our members mining with daily returns. I can't say enough good things about our history with mining farms except we all wish we had gotten in sooner. Thanks for the update.

  3. Hmm I think this video is mostly about mining contracts and less about pools though guys… Either way subbed, I'm just starting out and loving the content so far! keep up the great work!

  4. what's better and please think about all aspects. power costs ect. a rig with a few professional grade high 4gb to 8gb autocad type Nvidia or Amd cards let's say 6. or a bunch of little raspberry pies?

  5. Here goes my bit of knowledge: http://www.badbitcoin.org and the click on "The Badlist".
    You'll find a massive list of scams/ponzis/etc sites that would gladly rip you off in the name of Bitcoin.
    Also, the revenue you obtain from those contracts also depend on the difficulty of Bitcoin, which by the way, is skyrocketing, making mining less and less profitable: blockchain.info/charts/difficulty.
    I have to agree with Charlie that the most transparent companies I've seen are Hashflare and Genesis mining. Is there a link to the whole interview?

  6. Fantastic  DK cover song "Utra- Super- Kitch- Noir"…..(If I may coin a term),  Tarantino level.  ABJ- I posted an E-mail to Greg Hunter to Interview You.  Viva La Competition !   Hope to read Mastering Bitcoin soon.  All the Best  not so subtle Ninja.

  7. bitcoin is the last shit this days. Secret meetings behind closed doors coming again. Censorship on reddit, and other places. ddos attacks on other core implementation like bitcoin unlimited xt and so on. Ignorand core developer's that only want to work 4 blockstream funding company interest. bitcoin is not far away from fiat money anymore with central planing behind closed doors and ignorant governance. i am close to leave bitcoin and drop all btc

  8. When i look for cloud mining reputation i just google "<cloud miner business name> + ponzi".

    I like the assessment on "Digiconomist" webpage, i.e.

    Genesis Mining has 3 stars: http://digiconomist.net/fraud-risk-assessment-genesis-mining

    By the way, I haven't seen a smart contract binding a mining contract. Why would be?

    P.S.: Hashflare and Hashcoins has a very bad assessment according this page:
    http://digiconomist.net/fraud-risk-assessment-hashcoins
    (Just be carefull)

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