Bitcoin.com Mining Pool Official Discussion Thread

[zowki]

Can I cancel my contracts and return BTC back?

Sorry, we do not refund contracts.

[Hitov]

Your contracts are a complete lie! For 6 months I will not even return my money back. What is the point of your contracts then ??? Why do you powder your brains for investors? People want to make money with you, and not lose money! Give me back my bitcoins back!

[Hitov]

Give me back my 1.36844524 BTC!

[sev]

Your contracts are a complete lie! For 6 months I will not even return my money back. What is the point of your contracts then ??? Why do you powder your brains for investors? People want to make money with you, and not lose money! Give me back my bitcoins back!

I understand why you'd be upset, but you did not do your due diligence before taking an investment risk. @greywyvern has an excellent calculator to use and the pool.bitcoin.com terms are not unclear.

[masterdidwell]

Your contracts are a complete lie! For 6 months I will not even return my money back. What is the point of your contracts then ??? Why do you powder your brains for investors? People want to make money with you, and not lose money! Give me back my bitcoins back!

I understand why you'd be upset, but you did not do your due diligence before taking an investment risk. @greywyvern has an excellent calculator to use and the pool.bitcoin.com terms are not unclear.

Agreed..

I'm also new to BTC mining.. but before I started to invest, I search and study first and used @greywayvern calculator. Thinking if I can have some profit or not. Most of us here really wants to earn (yes we know) and have a positive results. But think twice before we do something. All are good people here and willing to help each other. You will noticed at the lifetime plan that they place as long as it is profitable.

@Hitov, I suggest that you may give some time to read all the discussions of this thread. You will see that Bitcoin.com mining is more profitable than other cloud mining providers.

Good luck..

[BitcoinNewsMagazine]

Is pool.bitcoin.com going to honor the NYA and switch your mining client over to btc1? If so when is this planned?

[Kryptowerk]

Correct me if I'm wrong, but it looks like right now the contracts are all very unprofitable...
If the price in BTC doesn't go up to like ~$4k+ after August 1., I don't see that changing.

Indeed interesting to know what chain you will be supporting after the fork on August 1st! Any comments?

[zowki]

Correct me if I'm wrong, but it looks like right now the contracts are all very unprofitable...
If the price in BTC doesn't go up to like ~$4k+ after August 1., I don't see that changing.

Indeed interesting to know what chain you will be supporting after the fork on August 1st! Any comments?

Contracts are less profitable due to the recent Bitcoin price drop and difficulty increase. You can purchase our pre-order plan to get the best value.

We will mine on the chain with most hashrate and highest price, to ensure you guys get the best returns on your investment.

This should be the Segwit2x chain since over 90% of the global hashrate agreed to it.

[rogerver]

Can I cancel my contracts and return BTC back?

Sorry, all sales are final from us, but we do have plans to enable a hash reselling market so existing contract holders can buy and sell their hash rate with each other.

[orchidsBTC]

Please ! Explain to me the pool.bitcoin.com contract fee? Do you charge almost 50% of the total income of the miners?

[orchidsBTC]

Earnings for 75TH at Pool.Bitcoin.Com:

-Estimated 24hr revenue of 75th: 0.028 150 27 BTC

-Pay PPS Reward PPS 2017-07-15: 0.025 804 41

-Contract Fee SoldContract 2017-7-15 -0.010 497 59

- Total real income to wallet: 0.01530682 BTC

[rogerver]

Please ! Explain to me the pool.bitcoin.com contract fee? Do you charge almost 50% of the total income of the miners?

We charge a very low fee of $0.28 USD per 1TH for hosting fee.


This pays for all the electricity and maintenance of the machines.
As time goes by, the mining difficulty will become more and more difficult. Eventually the daily maintenance fee will be more than the value of the Bitcoins mined. Once that continues to be the case for a whole week, the contract will end.
It is also worth noting that the daily maintenance fee is fixed in USD. but the USD value of the bitcoins mined each day will change.
If the price of Bitcoin goes back up, the percentage of your mined bitcoins that is eaten by the maintenance fee will decline again.

[c0207148]

I believe this information is not correct , right ?

[zowki]

I believe this information is not correct , right ?

Thanks for letting me know. I changed it to 10%.

[orchidsBTC]

Please ! Explain to me the pool.bitcoin.com contract fee? Do you charge almost 50% of the total income of the miners?

We charge a very low fee of $0.28 USD per 1TH for hosting fee.


This pays for all the electricity and maintenance of the machines.
As time goes by, the mining difficulty will become more and more difficult. Eventually the daily maintenance fee will be more than the value of the Bitcoins mined. Once that continues to be the case for a whole week, the contract will end.
It is also worth noting that the daily maintenance fee is fixed in USD. but the USD value of the bitcoins mined each day will change.
If the price of Bitcoin goes back up, the percentage of your mined bitcoins that is eaten by the maintenance fee will decline again.

Thanks !! Rogerver

[Neoclassical]

Your contracts are a complete lie! For 6 months I will not even return my money back. What is the point of your contracts then ??? Why do you powder your brains for investors? People want to make money with you, and not lose money! Give me back my bitcoins back!

Easy there. This seems to be a high risk investment that you have to bear in mind.

[orchidsBTC]

Hope the difficulty will pass quickly ... BTC

[zepto]

I was wondering if there are any plans for a JSON API?

[rogerver]

I was wondering if there are any plans for a JSON API?

Perhaps, what information would you like to have made available via the API?

[zowki]

We already have an API for your user hashrate, worker hashrate, and mined blocks. Please go to the settings page to enable your API.

[Fbernals]

Your contracts are a complete lie! For 6 months I will not even return my money back. What is the point of your contracts then ??? Why do you powder your brains for investors? People want to make money with you, and not lose money! Give me back my bitcoins back!

Easy there. This seems to be a high risk investment that you have to bear in mind.

The next fork is affecting Bitcoin price and increased difficult doesn't help at all.

[zepto]

I was wondering if there are any plans for a JSON API?

Perhaps, what information would you like to have made available via the API?

I did see the hashrate API, thanks I was actually more interested in (securely) querying my user transaction data (contract fees, PPS payments etc in BTC).

[zowki]

I was wondering if there are any plans for a JSON API?

Perhaps, what information would you like to have made available via the API?

I did see the hashrate API, thanks I was actually more interested in (securely) querying my user transaction data (contract fees, PPS payments etc in BTC).

I'll add this to my to-do list.

Please email us at pool@bitcoin.com. I'll send you an email to notify you when we add your requested feature.

[mel]

This pool sure mine alternative chain only after fork?

When I use calculator, what is good "% daily chg. BTC vs USD"? With 0.1% i get results:

Results
Plan cost: 42.98814120 BTC
Payout:
30.00529152 BTC ($95343.61 USD)
Gain/Loss:
-12.98284968 BTC (-30.20% ROI)
$1818.61 USD (1.94% ROI)

1 BTC = $3177.56 USD
at end of plan
Lifetime Plan became unprofitable in
1.04 years (379 days)

Hi Hosul,

The staff at this pool have said it will mine the most profitable chain if there is a hard fork. Not sure what you mean by "alternative."

The "% daily chg. BTC vs USD" is your bitcoin future price prediction. It is the biggest wild card when using that calculator because the value of BTC is so volatile.

Contracts are not very likely to make a profit right now because the price of BTC is so low. This increases your initial cost for the contract and the daily maintenance cost since they are both locked in USD. But if you buy BTC and hold them you will likely make money!

Hope this helps, the calculator is a great learning tool, happy investing

[BitcoinNewsMagazine]

Chinese pools started signaling BIP91 today as shown at https://www.xbt.eu/. Will pool.bitcoin.com join in to ensure SegWit2x is locked in soon?

[fabiocardozo]

Bad business

[BitcoinNewsMagazine]

Thanks good to see pool.bitcoin.com signaling BIP91 today.

[BitcoinNewsMagazine]

ViaBTC just restocked their S9 cloud mining contracts. They have 4593 TH/s for sale. Bad news is the price per TH/s is $179 same as second batch. The first batch was only $154. It will be interesting to see if this batch sells out. In other news regardless of whether SegWit2x is activated prior to Aug 1 ViaBTC plans to go ahead with a hard fork to Bitcoin ABC. They will offer cloud mining both on the original chain and the Bitcoin ABC chain, and owners of S9 hash can exchange for mining power on the Bitcoin ABC fork.

[GreyWyvern]

Currently all pool.bitcoin.com plans are very unprofitable, assuming historical value and difficulty increases. Due to the uncertainty of the Aug 1st SegWit2x switch, I would recommend waiting to see if the plans get re-priced.

What is mainly responsible for this IMHO are the daily fees. As the same amount of hash-rate generates less and less BTC, and the value of BTC vs USD (which the Daily Fee is priced in) has dipped, the Daily Fee per TH should be going down as well. The Daily Fee should probably be indexed to the current price of BTC instead of being set manually.

As of now, accounting for the Current Daily Return of the pool's hash-rate, even if BTC goes to McAfee levels of return ($500,000USD in 3 years!?!?) you will still lose in terms of BTC, even on the Lifetime Plan pre-order.

[zowki]

Our lifetime contracts can still be profitable, even at $149 per TH/s.

Assuming the 5% historical difficulty increases is unrealistic for the next few years. ASIC technology won't see the same exponential jumps that it has before.

Bitcoin ASICs started off with 110nm fabrication process in 2012 and now we're up to 22nm, about the same as the latest technology in CPUs. I'm expecting about 2% difficulty increases every two weeks averaged over the next year rather than the historical rate of 5%. That could of course vary wildly based on the Bitcoin price.