All About BTC, LTC, ETH mining as well as other alternative crypto currencies
It seems that one of the earlier large Bitcoin mining pools that was trusted by many home miners over 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 log in and retrieve their history and request withdrawals until September 30, 2015. According to Eleuthria, the pool operator, the main reason for making this decision was one one side the high costs for operating the pool as well as the recently finalized NYDFS BitLicense regulations that can put BTC Guild at risk. The pool will be closing down for sure and it is not going to be available for sale to another operator due to concern over user privacy and security.
This is sad new for many people that have used BTC Guild over the years and still continue to mine at their favorite and trustworthy pool. Unfortunately with more and more mining power getting focused in large industrial mining farms mostly in Asia things are not going to get better for other pools such as BTC Guild where mostly small home-based miners gather. This is also the reason while the percentage of the Bitcoin network total hashrate in pools like BTC Guild (only about 3% currently) has been steadily decreasing. In its prime time BTC Guild has managed to reach about 40% of the total network hashrate back in 2013, but now things are looking quite different and unfortunately not much in faour for the small home miners.
Nowadays Bitcoin is only mined by those who have managed to secure some sort of ASIC mining hardware, because it is pointless to mine BTC with GPU let alone with CPU miners. That is the reason why there are not that many Bitcoin mining pools left and there are a few larger ones that most people are mining in. Below you can see a list of the top Bitcoin mining pools with a short info about each one of them:
GHash.io – 0% mining pool fee, PPLNSG payout system, merged mining NMC/DVC/IXC
Eligius – 0% mining pool fee, CPPSRB payment system, no registration required
BTC Guild – 3% PPLNSG, 7.5% PPS pool fee, merged mining NMC
Discus Fish – Some sort of a large private(?) Chinese pool
Slush – 2% mining pool fee, RBPPS payment system
BitMinter – 1% mining pool fee, PPLNSG payment system
BTCGuild is one of the top 3 Bitcoin mining pools and they just announced that they’ve launched a scrypt mining pool for alternative crypto currencies. Though the new site called ScryptGuild is still in Alpha stage and being tested, you could request to be one of the people to try it out first if you are interested. BTC Guild has proven as a reliable pool for Bitcoin and offers an easy and user friendly interface, so translating this to a Scrypt mining pool will be a good thing for everyone mining Litecoins and other scrypt crypto currencies. Below is the official announcement from BTC Guild:
After the ASIC revolution in 2013, many users have repurposed their graphics cards for mining on Scrypt-based coins. After significant consideration, BTC Guild has launched a new service, ScryptGuild.
ScryptGuild is currently in alpha testing, and welcoming new users to help test out the continuous features being added. While it is called “Alpha”, the mining side of things is solid, built upon the same backend as BTC Guild, a custom C++ server.
You can find out how to join ScryptGuild by going into our IRC channel, #scryptguild on Freenode IRC network.