What is DYOR?
Anonymous Quiz
8%
Any unpopular crypto currency
13%
An alternative name for Dogecoin
79%
Stands for Do Your Own Research
FUD stands for…
Anonymous Quiz
5%
Fear, Upupa, Doubt
21%
Fear, Uncertainty, Destroy
74%
Fear, Uncertainty, Doubt
How many did you get right? Send a reaction!
🤔 — 1-2 right answers.
😁 — 3–4 right answers.
🔥 — 5–6 right answers.
🤔 — 1-2 right answers.
😁 — 3–4 right answers.
🔥 — 5–6 right answers.
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Here's a fresh article in our "How Minto Mines Bitcoin" series. This time we’re talking about mining pools — what they are, why we use them and what pool our ASIC-miners operate in.
Follow the link to read it: https://bit.ly/3pUx5ja
#minto_about
Follow the link to read it: https://bit.ly/3pUx5ja
#minto_about
Minto is a decentralized platform for Bitcoin mining. What does decentralized mean? Why do we highlight it as an advantage? Here is our third article in the "How Minto Mines Bitcoin" series, where we explain all of that.
#minto_about
#minto_about
The use of DeFi allows for a more convenient and less risky mining process. Our BTCMT token uses several smart-contracts. What for?
Smart-contracts form assets.
The set of rules inside them defines what and how much of it you take away and how you’re allowed to manage it. For instance, BTCMT uses a hashrate tokenization framework. Owning a 100 BTCMTs gets you 1 TH/s of active hashrate.
Smart-contracts define how you make a purchase.
BTCMTs can be purchased through markets like MDEX and Pancake Swap — or directly from our website. If you go with the second option, tokens are being minted. Minting is the process of creating new tokens in a blockchain. The price of a token and the way of minting are defined by the smart-contract for the purchase of said token.
Smart-contracts determine what staking looks like.
There are dozens of ways staking can be realized. Smart-contracts establish what it looks like in your case, taking on all technical aspects of this issue. BTCMT is no different.
The main advantage of smart-contracts is the exclusion of third parties from all operations. Blockchain contracts are cheaper, quicker and safer when they’re automated.
By the way, for the safety of your assets a project needs to be audited. Minto’s smart-contracts are approved by the Hacken cyber safety team.
Modern blockchain tools solve problems you used to have to deal with on your own.
DeFi is a forward movement and the solution to a lot of mining-related issues. There is no need for you to find the necessary equipment, figure out which location would be optimal in terms of climate and energy costs and then monitor the process 24/7 to keep it running at maximum capacity. No more renting out miners and signing contracts that give you no control over your assets.
DeFi allows you to scale your hashrate and give it up whenever you want. Not only are you getting more control, but also delegating risks. Having a token you can sell in a matter of minutes provides endless possibilities. Isn’t that great? Sure is.
Smart-contracts form assets.
The set of rules inside them defines what and how much of it you take away and how you’re allowed to manage it. For instance, BTCMT uses a hashrate tokenization framework. Owning a 100 BTCMTs gets you 1 TH/s of active hashrate.
Smart-contracts define how you make a purchase.
BTCMTs can be purchased through markets like MDEX and Pancake Swap — or directly from our website. If you go with the second option, tokens are being minted. Minting is the process of creating new tokens in a blockchain. The price of a token and the way of minting are defined by the smart-contract for the purchase of said token.
Smart-contracts determine what staking looks like.
There are dozens of ways staking can be realized. Smart-contracts establish what it looks like in your case, taking on all technical aspects of this issue. BTCMT is no different.
The main advantage of smart-contracts is the exclusion of third parties from all operations. Blockchain contracts are cheaper, quicker and safer when they’re automated.
By the way, for the safety of your assets a project needs to be audited. Minto’s smart-contracts are approved by the Hacken cyber safety team.
Modern blockchain tools solve problems you used to have to deal with on your own.
DeFi is a forward movement and the solution to a lot of mining-related issues. There is no need for you to find the necessary equipment, figure out which location would be optimal in terms of climate and energy costs and then monitor the process 24/7 to keep it running at maximum capacity. No more renting out miners and signing contracts that give you no control over your assets.
DeFi allows you to scale your hashrate and give it up whenever you want. Not only are you getting more control, but also delegating risks. Having a token you can sell in a matter of minutes provides endless possibilities. Isn’t that great? Sure is.
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We’re launching a new section, where Minto experts will answer burning questions about the project and the mining industry as a whole.
Minto’s CEO Nick is going to take the first question: “Are we ever switching back to a 100% uptime? Under what circumstances could that happen?”
“The short answer is: yes, we are!
Here’s the long version:
Our team is always striving to make mining as profitable as possible for our users. This is why, considering the market situation in June, we proposed switching to a “65% uptime” mode, explained why we thought it was a good idea and took a vote, during which the switch was approved.
This change makes sense if the BTC rate is low and/or when the Bitcoin network complexity starts rapidly growing. Exactly the situation we’re in right now.
When these circumstances evolve and the level of profit in “65% uptime mode” falls beneath the level of profit in “as is” mode, we will switch back to the initial format. Current estimates suggest that Bitcoin rate needs to cross the $31000 line for that to happen, and this number could change due to a possible network complexity recalculation.
In the meantime look at the numbers:
Hypothetical results with 100% uptime:
Daily mining revenue = 0,24 BTC or 5 062 USD
Daily electricity cost = 4 487 USD
Profit = 576 USD
Actual results with 65% uptime:
Daily mining revenue = 0,15 BTC or 3 291 USD
Daily electricity cost = 2 047 USD
Profit = 1244 USD
A 216% difference! You and us have made the right decision, the numbers don’t lie!"😉
#minto_about
Minto’s CEO Nick is going to take the first question: “Are we ever switching back to a 100% uptime? Under what circumstances could that happen?”
“The short answer is: yes, we are!
Here’s the long version:
Our team is always striving to make mining as profitable as possible for our users. This is why, considering the market situation in June, we proposed switching to a “65% uptime” mode, explained why we thought it was a good idea and took a vote, during which the switch was approved.
This change makes sense if the BTC rate is low and/or when the Bitcoin network complexity starts rapidly growing. Exactly the situation we’re in right now.
When these circumstances evolve and the level of profit in “65% uptime mode” falls beneath the level of profit in “as is” mode, we will switch back to the initial format. Current estimates suggest that Bitcoin rate needs to cross the $31000 line for that to happen, and this number could change due to a possible network complexity recalculation.
In the meantime look at the numbers:
Hypothetical results with 100% uptime:
Daily mining revenue = 0,24 BTC or 5 062 USD
Daily electricity cost = 4 487 USD
Profit = 576 USD
Actual results with 65% uptime:
Daily mining revenue = 0,15 BTC or 3 291 USD
Daily electricity cost = 2 047 USD
Profit = 1244 USD
A 216% difference! You and us have made the right decision, the numbers don’t lie!"
#minto_about
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You are here
👇
More power at a lower price => more Bitcoins => more happiness!
Provide your future self with bitcoins, now is the best time.
To grab additional power, follow the links below:
PancakeSwap BSC https://bit.ly/3aA1bVh
Minto website https://minto.finance/
#minto_about
👇
More power at a lower price => more Bitcoins => more happiness!
Provide your future self with bitcoins, now is the best time.
To grab additional power, follow the links below:
PancakeSwap BSC https://bit.ly/3aA1bVh
Minto website https://minto.finance/
#minto_about
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August is over, which means it’s time for our monthly report! What’s been happening?
— We got new partners! One of them is Trust Wallet — a safe and reliable wallet. Our second partner cannot be revealed yet. All we can say is: it’s a crypto exchange!
— We know you are eager to find out when the bridge between HECO and BSC becomes available. Good news: we are in the final phase of testing at Mainet!
— And now onto some numbers. Here you can see how much we’ve earned this month in “65% uptime” mode, and how much less we could have earned mining “as is”:
Hypothetical results with 100% uptime:
Mined:
BTC: 7, 5850
USD: 167 183
Electricity cost:
USD: 139 087
Net profit:
USD: 28 096
Actual results with 65% uptime:
Mined:
BTC: 4,2950
USD: 94 572
Electricity cost:
USD: 54 764
Net profit:
USD: 39 808
— Changes on our website! We launched Arabic localization and a new user interface is being developed. Soon it will be easier and more fun to navigate.
— August ended up being the funniest month yet: we hosted two whole meme contests and the winners got rewarded with tokens. Watch out for updates — we do contests regularly!
— August 2nd we had the AMA-session with iToken with the AirDrop worth 5000$. That was fun, thank you everyone!
That’s it for now! It was an eventful month!
#minto_about
— We got new partners! One of them is Trust Wallet — a safe and reliable wallet. Our second partner cannot be revealed yet. All we can say is: it’s a crypto exchange!
— We know you are eager to find out when the bridge between HECO and BSC becomes available. Good news: we are in the final phase of testing at Mainet!
— And now onto some numbers. Here you can see how much we’ve earned this month in “65% uptime” mode, and how much less we could have earned mining “as is”:
Hypothetical results with 100% uptime:
Mined:
BTC: 7, 5850
USD: 167 183
Electricity cost:
USD: 139 087
Net profit:
USD: 28 096
Actual results with 65% uptime:
Mined:
BTC: 4,2950
USD: 94 572
Electricity cost:
USD: 54 764
Net profit:
USD: 39 808
— Changes on our website! We launched Arabic localization and a new user interface is being developed. Soon it will be easier and more fun to navigate.
— August ended up being the funniest month yet: we hosted two whole meme contests and the winners got rewarded with tokens. Watch out for updates — we do contests regularly!
— August 2nd we had the AMA-session with iToken with the AirDrop worth 5000$. That was fun, thank you everyone!
That’s it for now! It was an eventful month!
#minto_about
When it comes to Bitcoin talk, some try to argue its failure and others just get all sceptical.
But we know for a fact: BTC is the future! So, we put together some myths about Bitcoin and tried to bust them.
#minto_education
But we know for a fact: BTC is the future! So, we put together some myths about Bitcoin and tried to bust them.
#minto_education