BTC Guild
| Trading name | BTC Guild |
| Industry | Mining pool |
| Founded | 9 May 2011 |
| Defunct | 30 June 2015 |
| Founder(s) | Eleuthria |
| Website | btcguild.com |
BTC Guild was a mining pool that paid proportional (PPLNS) rewards. A miner's reward equalled the block value multiplied by that miner's valid shares in the round. The pool took no fee from each solved block and calculated rewards to the full eight decimal places supported by the Bitcoin protocol. It ran on user donations and offered higher service tiers at higher donation rates. Donations were taken from the individual user's reward when a block was calculated.
Donors at 2.5% (calculated per block) could claim rewards without waiting for 120 confirmations. That also worked as orphan protection similar to DeepBit: a user could claim rewards even if the block was later orphaned by the network.
The coinbase signature for the pool was: "Mined by BTC Guild".[1]
BTC Guild opened on 9 May 2011.[2] It was later offered for sale. A possible buyer was discussed with a 90-day notice period. If a sale failed, another 90-day notice was planned: 30 days for the pool to stop, then 60 more days for withdrawals.[3]
Closure
On 15 June 2015, operator Eleuthria announced that BTC Guild would shut down on 30 June 2015.[4] The stated reasons included a low share of network hashrate versus funds kept in a hot wallet, New York BitLicense uncertainty, and possible but hard-to-prove gaming of the pool by miners.
See also
External links
References
| |||||||||||||||||||||||
