https://en.bitcoin.it/w/api.php?action=feedcontributions&feedformat=atom&user=Coroos 2026-05-05T13:09:24Z User contributions MediaWiki 1.43.8 https://en.bitcoin.it/w/index.php?title=BitPenny&diff=11249 2011-06-20T22:24:19Z

<p>Coroos: /* External Links */</p> <hr /> <div>BitPenny was the first [[Pooled mining|mining pool]] to introduce a fixed-rate, instant-payout model. The service discontinued service indefinitely as-of April 2, 2011&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=3266.msg78042#msg78042 Re: Instant-Payout Mining - BitPenny.com]&lt;/ref&gt;.<br /> <br /> Each share submitted to BitPenny was worth a fixed (based on current [[Difficulty|difficulty]]) amount of bitcoins. The user's account was credited immediately upon submission, and the balance was instantly available for withdrawal from the [http://www.bitpenny.com BitPenny website]. This approach shifted the risks associated with bad luck, cheating, and transaction-reversal [[Weaknesses|attacks]] from the user to the pool operator, resulting in a virtually zero-variance payout curve.<br /> <br /> The service was operated for-profit and thus self-insured against variances.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=3266.0 Instant-Payout Mining - BitPenny.com]&lt;/ref&gt;.<br /> <br /> The service was first available for beta testing starting February 08, 2011. The second round of testing began on March 2nd, 2011.<br /> <br /> ==Community==<br /> <br /> The IRC channel [irc://irc.freenode.net/bitcoin-penny #bitcoin-bitpenny] ([http://webchat.freenode.net/?channels=bitcoin-bitpenny&amp;uio=d4 webchat]) offers conversation with fellow miners and information from BitPenny's operator.<br /> <br /> ==See Also==<br /> <br /> * [[Pooled Mining]]<br /> <br /> ==External Links==<br /> <br /> * [http://www.bitpenny.com BitPenny] web site (no longer operational)<br /> <br /> ==References==<br /> &lt;references /&gt;</div>

Coroos