ViaBTC to give presents for Bitcoin miners

ViaBTC announced “Winter Mining Feast” where anyone who continuoually mines for 30 days will be eligible for a prize
23 November 2017   1332

The promotion has already started on November 23rd and continues until December 25th. The hashpower needs to be provided continuously for 30 days or more. At the same time, miners can’t switch to different pools.

Gifts contains Bluetooth speakers, an iPhone 8, an iPhone X, and Macbook laptops and others. Those who successfully contribute between 7 and 8 petahash will be eligible for the iPhone X giveaway. However, it is more likely that anyone who contributes less than 1 petahash per second will not receive anything.The users who can successfully contribute more than 1 petahach or even more will certainly get rewarded.

Furthermore, the winners may not receive the actual goods, depending on supply issues and locations. Overseas miners will receive gift cards with the item value instead.

Chinese Miners to be Driving Force of Bear Market

Miners are playing short in order to get some profit
07 December 2018   101

As the 8btc notes, the new generation of miners are less likely to keep mined coins, preferring to hedge price risks by opening short positions.

To survive the notorious “cryptocurrency winter”, miners increasingly have to become experts of the financial market and risk managers, using the maximum functionality of trading platforms. Short positions sometimes harm the miners themselves, struggling to maintain profitability.

Everyone is short-seller, we do this for self-defense but that will lead to a further decline in cryptocurrency price… Without short selling, we will be eliminated ultimately, but if everybody keeps doing this, we will finally die together, which is quite heroic.


Miner, China

As noted by jin, he mines cryptocurrency partly on video cards. Miner began operations in October 2017. According to him, in the first two months, Jin Xin earned more than in the past three years in other areas of activity.

However, this year the situation has changed dramatically and the miner had to develop his own strategy for surviving in a bear market. To build capacity, he bought cheaply used GPU farms from those who wished to quit the game. Immediately after the price fell below the break-even point, Jin turned off the farm and sold the video card to video game lovers. After waiting for some price recovery, he again bought up video cards in the secondary market and sold them to miners.