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Buying rented hashpower as a group to mine BIP 101 blocks Current Funds: 1.54125951 BTC NiceHash.com donation address : 3KSxaYdX1tMpSpVjPLS8cep2Bec5HxQvv4[QR code here]
Graph and data updated every 15 minutes How it works: 1.) Donate bitcoin to the address above (This is a NiceHash.com donation address). The figure above will only update hourly as part of our DDoS protection. NiceHash periodically sweeps the funds from this wallet, while keeping the balance reported on the website the same. 2.) Your bitcoin will be put to use mining BIP 101 (XT) blocks. Currently, donated funds will go toward mining power on a manually set basis. Note: All mining profits will be re-invested back into the donation pool to make your donation go as long as possible in the form of mining power. Because NiceHash does not allow mining rewards to be sent directly back to their address, mining rewards will get sent here: 1PTY9f8hbaFBd3EsXfAuixZ2Y5ZxWP4uZa and then periodically will be sent back to the NiceHash address above for re-use. 3.) BIP101 Blocks get mined and you contribute to Bitcoin XT's success. Note: All donations to this fund are 100% used for mining power and are not used for any other purpose whatsoever. Donations are final and cannot be reversed. When BIP 101 has been activated, all remaining funds will be donated to the BigBlockBounty.com reward (contest #2) for the same person who mines the first BIP101 block larger than 1mb. What will I get for my money? NiceHash.com offers bidding-style rented hashpower, so the price depends on supply and demand. Your bitcoin will buy hashpower at the current market value as listed on NiceHash.com Your rented hashpower will mine bitcoin and this bitcoin will get re-invested to mine further bitcoin. In this way, there is an extended effect to anything donated. We are seeing up to 96% return on investments, which means your bitcoin will go a long way. The minimum allowed to purchase on a NiceHash contract is 5 TH/s Example: Let's suppose the cost of hashing power is .0079 bitcoin per TH/s per day. Let's suppose the current Coinbase exchange rate is $238.96 per BTC. The smallest possible NiceHash contract will cost $9.44 per day to keep running. Obviously this number will fluctuate along with the cost of hashing power and the dollar value of BTC. Keep in mind, though, that donated funds are not purely sunk costs. The donation fund will get much of its money back in the form of block rewards. The odds are against getting all of the original money back or making a profit, but the actual out-of-pocket expense of doing this is fairly low due to the reinvestment nature of mined block rewards. So your bitcoin will be re-invested over and over resulting in a lot of recurring hashpower for your bitcoin donation. Good luck and let's find some blocks! |