Forwarded from Nick ⛏
Hi everyone 👋🏻 In recent months, you’ve witnessed a bear market, the fall of Luna and various other events. Today we’d like to discuss market prospects with you and offer a solution that will allow you to improve your BTC mining rewards.
We are proposing to improve and optimize the mining process on the existing Minto hardware by reducing electricity consumption during peak hours when higher electricity rates are applicable. It may sound complicated, but I’ll describe the process in detail and provide some calculations below.
Why are we proposing this?
We have a range of tools and competitive advantages to improve operations and manage risks, including the risks of a bear market and a decline in BTC production.
We intended to announce them as Minto developed, but didn’t think we’d have to do it so early on.
We are fully prepared for what’s happening, and we’d like you to know how we can impact the current situation. And, most importantly, you need to decide whether we need the proposed changes by voting on the blockchain.
Your decision will allow us to either introduce new tools that will increase mining profits, or leave everything as is.
What will change and what are the benefits?
By switching to a new electricity consumption mode, we’ll be able to reduce its price from $0.055 to $0.0386 per 1 kWh.
The average daily uptime will equal 65%. Miners will work between 12 and 16 hours a day on weekdays, and 24 hours on weekends.
- We’ll alter the formula for calculating electricity costs, which are deducted daily from the mined BTC.
- We’ll use the actual mining pool hashrate rather than 55,000 THs in our calculations.
- We’ll change the electricity price in the formula from $0.055 to $0.0386.
Actual hashrate production will still be available @ https://www.f2pool.com/mining-user/06510a9d9d36f01fb7cbad861fb6c4cb or via the “Hashrate watcher” button on the main page.
These changes will have a direct impact on your income. Below I’ll provide an example of profit calculation both under the current “as is” conditions and after the proposed transition to "65% uptime".
"As is":
Daily mining revenue = 0.23259749 BTC or 5181 USD.
Daily electricity costs = 4487 USD
Profit = 695 USD
"Uptime 65%":
Daily mining revenue = 0.1484 BTC or 3368 USD.
Daily electricity costs = 1988 USD
Profit = 1379 USD
Thus, we’ll be able to increase profits by an average of 50%.
How will it work?
This change is only applicable when the BTC rate is low and/or the difficulty of the Bitcoin network starts to skyrocket.
If the 65% uptime mode profit level falls below the profit level in the "as is" mode, we’ll return to the previous operational mode.
We’ve developed an algorithm that collects data on electricity tariffs and peak hour schedules published by electrical companies. A miner operation algorithm will be formed based on this data. During certain time intervals, miners will go into a “stand by” mode, reducing electricity consumption to a minimum. This way we’ll get cheaper electricity during off hours (just like your washing machine runs at its cheapest rate at night), and the price per kWh will drop significantly.
On weekends, miners will work 24 hours/day.
What is required for this to work?
Voting on the blockchain will take place @ https://vote.minto.finance/#/
Voting period: 06/15/2022 to 06/17/2022 06:00 UTC.
Over 51% YES votes are required to implement changes.
If over 51% of the votes are YES votes, the changes will come into force on 06/17/2022, but no later than 06/21/2022.
The weight of your vote will be proportionate to the number of tokens you own.
You’ll be able to vote even if your tokens are on staking and auto-staking smart contracts.
Connect your wallet, choose an option and vote.
If you have difficulty voting or would like to know more details please fill free to ask here.
We are proposing to improve and optimize the mining process on the existing Minto hardware by reducing electricity consumption during peak hours when higher electricity rates are applicable. It may sound complicated, but I’ll describe the process in detail and provide some calculations below.
Why are we proposing this?
We have a range of tools and competitive advantages to improve operations and manage risks, including the risks of a bear market and a decline in BTC production.
We intended to announce them as Minto developed, but didn’t think we’d have to do it so early on.
We are fully prepared for what’s happening, and we’d like you to know how we can impact the current situation. And, most importantly, you need to decide whether we need the proposed changes by voting on the blockchain.
Your decision will allow us to either introduce new tools that will increase mining profits, or leave everything as is.
What will change and what are the benefits?
By switching to a new electricity consumption mode, we’ll be able to reduce its price from $0.055 to $0.0386 per 1 kWh.
The average daily uptime will equal 65%. Miners will work between 12 and 16 hours a day on weekdays, and 24 hours on weekends.
- We’ll alter the formula for calculating electricity costs, which are deducted daily from the mined BTC.
- We’ll use the actual mining pool hashrate rather than 55,000 THs in our calculations.
- We’ll change the electricity price in the formula from $0.055 to $0.0386.
Actual hashrate production will still be available @ https://www.f2pool.com/mining-user/06510a9d9d36f01fb7cbad861fb6c4cb or via the “Hashrate watcher” button on the main page.
These changes will have a direct impact on your income. Below I’ll provide an example of profit calculation both under the current “as is” conditions and after the proposed transition to "65% uptime".
"As is":
Daily mining revenue = 0.23259749 BTC or 5181 USD.
Daily electricity costs = 4487 USD
Profit = 695 USD
"Uptime 65%":
Daily mining revenue = 0.1484 BTC or 3368 USD.
Daily electricity costs = 1988 USD
Profit = 1379 USD
Thus, we’ll be able to increase profits by an average of 50%.
How will it work?
This change is only applicable when the BTC rate is low and/or the difficulty of the Bitcoin network starts to skyrocket.
If the 65% uptime mode profit level falls below the profit level in the "as is" mode, we’ll return to the previous operational mode.
We’ve developed an algorithm that collects data on electricity tariffs and peak hour schedules published by electrical companies. A miner operation algorithm will be formed based on this data. During certain time intervals, miners will go into a “stand by” mode, reducing electricity consumption to a minimum. This way we’ll get cheaper electricity during off hours (just like your washing machine runs at its cheapest rate at night), and the price per kWh will drop significantly.
On weekends, miners will work 24 hours/day.
What is required for this to work?
Voting on the blockchain will take place @ https://vote.minto.finance/#/
Voting period: 06/15/2022 to 06/17/2022 06:00 UTC.
Over 51% YES votes are required to implement changes.
If over 51% of the votes are YES votes, the changes will come into force on 06/17/2022, but no later than 06/21/2022.
The weight of your vote will be proportionate to the number of tokens you own.
You’ll be able to vote even if your tokens are on staking and auto-staking smart contracts.
Connect your wallet, choose an option and vote.
If you have difficulty voting or would like to know more details please fill free to ask here.
The voting on optimizing mining processes at Minto is complete!
Results: 100% votes for switching to “65% uptime” mode.
Over 1,2 mln tokens took part in the voting. Thank you for being so active! This decision will allow us to implement new tools that will increase mining profits by approximately 50%.
Changes will take effect within the 17-21 of June. We are going to continue to keep in touch, answer your questions and update you on the performance of Minto equipment.
#minto_news
Results: 100% votes for switching to “65% uptime” mode.
Over 1,2 mln tokens took part in the voting. Thank you for being so active! This decision will allow us to implement new tools that will increase mining profits by approximately 50%.
Changes will take effect within the 17-21 of June. We are going to continue to keep in touch, answer your questions and update you on the performance of Minto equipment.
#minto_news
We are launching a segment in which we will provide you with educational content on the topics of crypto and blockchain.
Let’s start with mining. We’ve picked three articles to help you dive into the subject. Link
Length: ≈ 7 minutes
Level: easy
A short and simple explanation of what mining is. The article answers basic questions about how mining works and why we need it. Link
Length: ≈ 20 minutes
Level: medium
This article will help you get a comprehensive picture of what mining actually is. It’s a long read with lots of terminology. If you run into difficulties while reading, we recommend using Google as a help tool. Link
Length: ≈ 6 minutes
Level: medium
What subject would you like us to pick for our new educational articles feature? Tell us in the comments.
#minto_newbies
Let’s start with mining. We’ve picked three articles to help you dive into the subject. Link
Length: ≈ 7 minutes
Level: easy
A short and simple explanation of what mining is. The article answers basic questions about how mining works and why we need it. Link
Length: ≈ 20 minutes
Level: medium
This article will help you get a comprehensive picture of what mining actually is. It’s a long read with lots of terminology. If you run into difficulties while reading, we recommend using Google as a help tool. Link
Length: ≈ 6 minutes
Level: medium
What subject would you like us to pick for our new educational articles feature? Tell us in the comments.
#minto_newbies
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Blackmail, bogus markets, fake giveaways, fishing, malware — these are some of the types of fraud you can encounter in the blockchain world.
Take our quiz to find out how to protect your wallet and safeguard your data.
#minto_education #minto_newbies
Take our quiz to find out how to protect your wallet and safeguard your data.
#minto_education #minto_newbies
You are offered one bitcoin in exchange for sending just 0,1 bitcoin. Good deal or a con job?
Anonymous Quiz
86%
Con
14%
Win
Would you look at that! You got a gift on Discord — five free tokens. To collect you just need to visit the website fraud.net. Do you click the link?
Anonymous Quiz
15%
For sure!
85%
Looks shady
Would you trade crypto on the website binanace.com?
Anonymous Quiz
23%
Sure, it’s a real site
77%
Nope
You get a DM on Twitter from Elon Musk with 256 followers. He offers you free bitcoins, you just need to tell him your crypto wallet’s address. What’s your plan?
Anonymous Quiz
10%
Wow, it’s Elon Musk! I’ll do anything he asks
90%
100% scam
Media is too big
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Solana: a history of failures and the questions they raised
Earlier this month there was a failure on the Solana blockchain. Let's figure out what kind of network it is, why it failed and what questions came after.
Earlier this month there was a failure on the Solana blockchain. Let's figure out what kind of network it is, why it failed and what questions came after.
Solana is a blockchain platform that supports many DeFi solutions, including the development of decentralized applications and smart contracts.
The system is very appealing to developers. It allows you to write applications inside it in popular programming language Rust, which ensures simplicity, convenience and integrity of development. Besides, NFT is rapidly gaining popularity on the Solana blockchain. The network is known for its high speed and low commissions, which is why creators love it.
Due to rapid growth of the NFT market Solana was considered to be the main competitor of Ethereum — a blockchain platform, also designed to create decentralized online services and apps based on smart contracts. However, the failures became more frequent.
Let’s go back to where we started: on the 1st of June Solana blockchain experienced the latest in a series of shutdowns. The reason was a failure in processing longterm untargeted transactions, which led to non-determinism, when nodes were generating different outcomes for the same block. Solana shut down but it was fixed in just 4.5 hours. This was the quickest hard fork in the system’s history.
What was the plan? Solana’s team asked validators to reboot the system and issued instructions: the goal was to create a snapshot of a certain timespan, from which the system could be restarted.
This was not the first failure at Solana, the one before that happened less than a month prior. On the 30th of April the system went down for 7 hours. It happened because NFT hunting bots overflooded the blockchain with a stream of transactions. In January the network was down for 47 hours. There have also been shutdowns in December and September of 2021.
The latest shutdown raised two core questions about Solana:
1. Is it fair to call this system decentralized if validators were needed to restart it?
2. With all the shutdowns it has experienced this year, does Solana still justify its status of being one of the most high-end blockchains?
What’s your opinion on this blockchain? Please share your experience and thoughts on the matter.
#minto_news #minto_education
The system is very appealing to developers. It allows you to write applications inside it in popular programming language Rust, which ensures simplicity, convenience and integrity of development. Besides, NFT is rapidly gaining popularity on the Solana blockchain. The network is known for its high speed and low commissions, which is why creators love it.
Due to rapid growth of the NFT market Solana was considered to be the main competitor of Ethereum — a blockchain platform, also designed to create decentralized online services and apps based on smart contracts. However, the failures became more frequent.
Let’s go back to where we started: on the 1st of June Solana blockchain experienced the latest in a series of shutdowns. The reason was a failure in processing longterm untargeted transactions, which led to non-determinism, when nodes were generating different outcomes for the same block. Solana shut down but it was fixed in just 4.5 hours. This was the quickest hard fork in the system’s history.
What was the plan? Solana’s team asked validators to reboot the system and issued instructions: the goal was to create a snapshot of a certain timespan, from which the system could be restarted.
This was not the first failure at Solana, the one before that happened less than a month prior. On the 30th of April the system went down for 7 hours. It happened because NFT hunting bots overflooded the blockchain with a stream of transactions. In January the network was down for 47 hours. There have also been shutdowns in December and September of 2021.
The latest shutdown raised two core questions about Solana:
1. Is it fair to call this system decentralized if validators were needed to restart it?
2. With all the shutdowns it has experienced this year, does Solana still justify its status of being one of the most high-end blockchains?
What’s your opinion on this blockchain? Please share your experience and thoughts on the matter.
#minto_news #minto_education
Minto is travelling to Kazakhstan!
Binance Community Meetup will be held today in Nur-Sultan. The line-up includes reports on the ecosystem and Kazakhstan’s prospects from Binance representatives, mining, NFT, presentations of products and services, giveaways and souvenirs.
Among the speakers will be the CEO of Minto. He will share his knowledge of mining and his views on the market.
Entry is free, you just have to register for the event.
#minto_events #minto_news
Binance Community Meetup will be held today in Nur-Sultan. The line-up includes reports on the ecosystem and Kazakhstan’s prospects from Binance representatives, mining, NFT, presentations of products and services, giveaways and souvenirs.
Among the speakers will be the CEO of Minto. He will share his knowledge of mining and his views on the market.
Entry is free, you just have to register for the event.
#minto_events #minto_news
The first Binance Community Meetup is being held in Kazakhstan as we speak. The lineup includes the CEO of Minto. In honor of the event we decided to run a giveaway! Minto tokens are the prize.
In order to win them, you have to subscribe to this channel and press «I’m in». Also, it would make us happy if you supported a few posts with your reactions.
Bot will automatically sum up results and choose 20 winners, whom we will ask to contact us afterwards.
Join in!
Winner(-s): @angrydaughter, @atsh_73, @katja_ppv, @yummylove01, @Gaaiku, @bar_bang, @Kittttttttttttttttt, @dimaximov01, @dosbibarys, @masashi4824, @g_abylaykhan, @FBIOst, @andlei, @sa_dimash, @Ferintor, AA, M O, Ермек, Nurbek Zha, MarciN
Please reach out to @mintosmm with your wallet number. Tokens will be sent to you in a few days🙂
#minto_contest
In order to win them, you have to subscribe to this channel and press «I’m in». Also, it would make us happy if you supported a few posts with your reactions.
Bot will automatically sum up results and choose 20 winners, whom we will ask to contact us afterwards.
Join in!
Winner(-s): @angrydaughter, @atsh_73, @katja_ppv, @yummylove01, @Gaaiku, @bar_bang, @Kittttttttttttttttt, @dimaximov01, @dosbibarys, @masashi4824, @g_abylaykhan, @FBIOst, @andlei, @sa_dimash, @Ferintor, AA, M O, Ермек, Nurbek Zha, MarciN
Please reach out to @mintosmm with your wallet number. Tokens will be sent to you in a few days🙂
#minto_contest
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What’s been happening at Minto over the past few weeks? Spoiler: a lot. And there’s more to come! Read all about it in the digest 👇
— Discord launch. Yes, Minto is now on Discord! We will use it to interact with you more, discuss news from the cryptocurrency world and put out streams. Join our community: https://discord.gg/minto.
— Minto x BSC. Our token is now available on one of the most popular and reliable blockchain platforms — Binance Smart Chain. You can learn how to import the BTCMT token here.
— Just in case you are used to working with Huobi Global exchange, here’s a post for you.
— Operational changes at Minto. Last week we proposed to optimize and improve mining on Minto’s existing equipment by lowering energy consumption at peak hours, when electricity rates are higher. The decision was up to you! The vote yielded the following results: 100% votes for switching to “65% uptime” mode.
— Conference in Kazakhstan. Minto founders spoke at the first Binance Community Meetup in Nur-Sultan, Kazakhstan. They talked about the company, shared their knowledge on mining and views on the market.
This was a great month, and we’re looking forward to more exciting stuff ahead!
#minto_about
— Minto x BSC. Our token is now available on one of the most popular and reliable blockchain platforms — Binance Smart Chain. You can learn how to import the BTCMT token here.
— Just in case you are used to working with Huobi Global exchange, here’s a post for you.
— Operational changes at Minto. Last week we proposed to optimize and improve mining on Minto’s existing equipment by lowering energy consumption at peak hours, when electricity rates are higher. The decision was up to you! The vote yielded the following results: 100% votes for switching to “65% uptime” mode.
— Conference in Kazakhstan. Minto founders spoke at the first Binance Community Meetup in Nur-Sultan, Kazakhstan. They talked about the company, shared their knowledge on mining and views on the market.
This was a great month, and we’re looking forward to more exciting stuff ahead!
#minto_about
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Friends! We would like to invite you to our AMA session, which we’ll be hosting together with BitKeep.
During the session our CEO will answer the most common questions about the company in real time.
⏰ The session will start on July 4 at 11 AM UTC.
📍 It will take place on BitKeep’s telegram channel: https://t.me/bitkeep.
❓ The conversation will take the form of real time messaging. You can start asking your questions under this post!
#minto_events
During the session our CEO will answer the most common questions about the company in real time.
⏰ The session will start on July 4 at 11 AM UTC.
📍 It will take place on BitKeep’s telegram channel: https://t.me/bitkeep.
❓ The conversation will take the form of real time messaging. You can start asking your questions under this post!
#minto_events