From Bitcoin Wiki
Jump to: navigation, search (pronounced bit pit) was a Bitcoin mining pool where members could work together to solve blocks.

First launched June 12th, 2011, chose to forgo the conventional route of pushpool due to it's numerous bugs and lack of scalability.

Its owners disappeared suddenly at the end of 2011, taking all pool balances with them.

Overview utilized the ESMPPS reward scheme to ensure fair payment in a PPS fashion, while avoiding the risk of paying out more than the pool.

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