BTC Guild – Crypto Mining Blog
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Posts Tagged ‘BTC Guild‘
The BTC Guild Bitcoin Mining Pool is Closing Down on June 30th
It seems that one of the earlier large Bitcoin mining pools that wasgoed trusted by many huis miners overheen the last few years is going to be closing down at the end of this month. BTC Guild will be shutting down its mining servers on June 30th, 2015 at 23:59 UTC. Users will still be able to loom te and retrieve their history and request withdrawals until September 30, 2015. According to Eleuthria, the pool technicus, the main reason for making this decision wasgoed one one side the high costs for operating the pool spil well spil the recently finalized NYDFS BitLicense regulations that can waterput BTC Guild at risk. The pool will be closing down for sure and it is not going to be available for sale to another technicus due to concern overheen user privacy and security.
This is sad fresh for many people that have used BTC Guild overheen the years and still proceed to mine at their dearest and trustworthy pool. Unluckily with more and more mining power getting focused ter large industrial mining farms mostly ter Asia things are not going to get better for other pools such spil BTC Guild where mostly petite home-based miners gather. This is also the reason while the percentage of the Bitcoin network total hashrate te pools like BTC Guild (only about 3% presently) has bot steadily decreasing. Ter its prime time BTC Guild has managed to reach about 40% of the total network hashrate back ter 2013, but now things are looking fairly different and unluckily not much ter faour for the petite huis miners.
- Ter: Crypto News
- Tags: bitcoin mining pool, BitLicense, BTC Guild, BTC Guild closing down, BTC Guild mining pool, btc mining pool, NYDFS BitLicense
BTC Guild Could Be Shutting Down, Getting Sold or Not
After the closure of ScryptGuild Scrypt mining pool earlier this year, BTC Guild – one of the large Bitcoin mining pools wasgoed evidently facing the possibility of getting shut down. The creator and technicus of the BTC Guild mining pool has announced that the two main reasons for determining to close the pool are the increase of attempts to hack the service (however it never has bot hacked) and the fresh regulations that the US government is pushing for the Bitcoin related businesses. To read the official announcement posted on Bitcointalk about the closure of the pool. Eleuthria, the proprietor and technicus of the BTC Guild, has however since announced that there is significant rente from numerous parties to purchase the pool, so the ownership of the pool could switch and it may proceed to operate under different management. Today however some more good news were announced – evidently wij are not going to be loosing the BTC Guild pool, a service many of us have bot using for years mining Bitcoins, and it is most likely not going to be sold either, but will proceed to operate. Here is the latest postbode regarding the situation from Eleuthria:
A epistel update on the weekend’s events: BTC Guild is not closing down ter the near future. BTC Guild is not being sold ter the near future. I am beginning to go overheen options with some colleagues ter other countries and lawyers to consider moving BTC Guild to another country. This may involve taking on a playmate, but I would maintain the primary role te the management and operations of the pool itself. More on this will be made available spil it develops.
That process will be the response to the concern overheen regulation. The 2nd part, the concern about the cost of a successful compromise of the pool, is something I am working on addressing. I have already made some switches to the pool hot wallet to significantly decrease the amount of funds kept online. It will mean failed withdrawals may toebijten more frequently (wij toevluchthaven’t had that toebijten ter many months), tho’ it is preferable to have a few withdrawals delayed for 12-24 hours than have the webpagina shut down due to a compromise.
I am also exploring ways that the pool could make a transition to coinbase payments to further reduce the amount of funds at risk at any given time. This most likely won’t toebijten for a few months, if it happens at all.
- Te: General Informatie
- Tags: BTC Guild, BTC Guild closing, BTC Guild closure, BTC Guild getting sold, btcguild, Eleuthria, ScryptGuild
ScryptGuild Mining Pool is Going to be Shutting Down ter September
The ScryptGuild Scrypt mining multipool has announced that they are going to be shutting down on September 27, 2014. However the mining servers will halt te Two weeks, which is August 10th. Users will have until September 20th to withdraw their balances before the coin daemons and wallets are taken offline. The information about ScryptGuild shutting down is evidently not directly related to the Fresh York Bitcoin Regulations that are presently ter the works, however there is information that the BTC Guild mining pool might also be closed down if thesis regulations are approved te their current form.
Under the current proposals (subject to public comment and revision), operating a pool within the US will be unlikely to do legally without obtaining significant individual information on ALL users, not just those te the US. There would also be significant financial costs which would exceed the amount of money the pool has generated since inception. Since there is no way anybody will mine on a pool with those requirements, it means that any pool ter the US will be coerced to shut down, or operate illegally and hope they’re overlooked.
If the regulations are finalized (this is unlikely to toebijten for at least 3-4 months if not more) te a form that still applies to pools, the pool will be coerced to shutdown. This news postbode is being made spil notice that this is an exception to the stated 3-month closure window identified ter our FAQ and the forum thread. If the regulations pass, the 3-month window will be diminished to 45 days due to legal requirement to cease operations prior to the regulations taking effect.