BTC Guild: Difference between revisions
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Mercurytoxic (talk | contribs) Minor change to note that it's no longer in existence |
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|founder=[[Eleuthria]] | |founder=[[Eleuthria]] | ||
|foundation=May 9, 2011 | |foundation=May 9, 2011 | ||
|hashrate= | |hashrate=15.2 PHash/s | ||
|website=http://www.btcguild.com | |website=http://www.btcguild.com | ||
}}BTC Guild | }}'''BTC Guild''' was a [[Pooled mining|mining pool]] which offers proportional ([[PPLNS]]) based rewards, where your reward is equal to the block value, multiplied by your valid shares submitted during the round. The pool does not take a fee from each block solved, and calculates rewards to the full 8 decimal points supported by the Bitcoin protocol. The pool is run off the donations of users, and is offering premium services at different donation levels to encourage users to donate a small percentage of their rewards. Donations are taken from the individual user's reward when a block is calculated. | ||
2.5% donators (calculated on a per block basis) are able to claim their rewards without waiting for 120 confirmations of the block. This also acts as invalid protection, similar to [[DeepBit]], where a user can claim rewards even if the block is later invalidated/orphaned by the network. | 2.5% donators (calculated on a per block basis) are able to claim their rewards without waiting for 120 confirmations of the block. This also acts as invalid protection, similar to [[DeepBit]], where a user can claim rewards even if the block is later invalidated/orphaned by the network. | ||
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The [[coinbase]] signature for this pool is: "Mined by BTC Guild"<ref>[https://blockchain.info/tx/0a04176e074d1bc651e969929b866b8d04104a964332c96fb6913ab863e2dac0 Example of decoded coinbase]</ref>. | The [[coinbase]] signature for this pool is: "Mined by BTC Guild"<ref>[https://blockchain.info/tx/0a04176e074d1bc651e969929b866b8d04104a964332c96fb6913ab863e2dac0 Example of decoded coinbase]</ref>. | ||
BTC Guild first opened up on May 9th, 2011.<ref>[http:// | BTC Guild first opened up on May 9th, 2011.<ref>[http://bitcointalk.org/index.php?topic=7760.0 BTC Guild - 0% Fee Pool, Long polling, JSON API, invalid insurance]</ref> It is currently for sale and a possible buyer has been found. There is a 90 day notice period. If the sale does not go through, another 90 day notice period will be announced. 30 days for the pool to stop operation and an additional 60 days for users to withdraw their mining proceeds<ref>https://bitcointalk.org/index.php?topic=49417.msg9395478#msg9395478</ref>. | ||
== Closure == | |||
On June 15th, 2015, it was announced<ref>https://bitcointalk.org/index.php?topic=49417.msg11628010#msg11628010</ref> that BTC Guild will be shutting down on June 30th, 2015. Its operator - Eleuthria - cited concerns over low percentage of network hashrate vs funds in a hot wallet, the [[New York Bitlicense]] and possible but difficult to prove gaming of the pool by miners. | |||
==See Also== | ==See Also== | ||
Latest revision as of 04:02, 27 July 2023
| Trading name | BTC Guild |
| Industry | Mining pool |
| Founded | May 9, 2011 |
| Founder(s) | Eleuthria |
| Website | http://www.btcguild.com |
BTC Guild was a mining pool which offers proportional (PPLNS) based rewards, where your reward is equal to the block value, multiplied by your valid shares submitted during the round. The pool does not take a fee from each block solved, and calculates rewards to the full 8 decimal points supported by the Bitcoin protocol. The pool is run off the donations of users, and is offering premium services at different donation levels to encourage users to donate a small percentage of their rewards. Donations are taken from the individual user's reward when a block is calculated.
2.5% donators (calculated on a per block basis) are able to claim their rewards without waiting for 120 confirmations of the block. This also acts as invalid protection, similar to DeepBit, where a user can claim rewards even if the block is later invalidated/orphaned by the network.
The coinbase signature for this pool is: "Mined by BTC Guild"[1].
BTC Guild first opened up on May 9th, 2011.[2] It is currently for sale and a possible buyer has been found. There is a 90 day notice period. If the sale does not go through, another 90 day notice period will be announced. 30 days for the pool to stop operation and an additional 60 days for users to withdraw their mining proceeds[3].
Closure
On June 15th, 2015, it was announced[4] that BTC Guild will be shutting down on June 30th, 2015. Its operator - Eleuthria - cited concerns over low percentage of network hashrate vs funds in a hot wallet, the New York Bitlicense and possible but difficult to prove gaming of the pool by miners.
See Also
External Links
- BTCGuild web site
References
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