Bitmain, the major Chinese ASIC producer, has launched a third mining pool: ConnectBTC opened to the public today. AntPool and BTC.com already belong to the Bitmain group of mining pools. This new pool is part of Bitmains Israeli research and development (R&D) center, Bitmaintech Israel, and as such, is the first mining pool based in the Middle-Eastern country.
There is a very strong tech and cryptocurrency industry in Israel, and were proud to now open the first Israeli Bitcoin mining pool, ConnectBTC manager Gadi Glikberg told Bitcoin Magazine.
ConnectBTC
Glikberg was previously the vice president of sales for Spondoolies Tech, the Israeli ASIC producer that shut down in mid-2016. Bitmain CEOs Jihan Wu and Micree Zhan decided to set up the R&D center in Tel Aviv shortly after, where Glikberg took on a managing role.
Glikberg believes the new pools main differentiator is that ConnectBTC provides detailed real-time information and analytics to connected miners (or hashers). This should give them a better understanding of their machines performance without having to develop custom internal monitoring tools themselves.
Think of miners as servers that are working at 100 percent CPU 24/7, Glikberg explained. Modern data centers use expensive monitoring tools to monitor the status of the servers, so they can respond quickly when a server goes down or doesn't perform as expected. Most miners don't have such external tools and they rely either on the pool or on a proprietary tool such as a script that they build themselves.
ConnectBTC will instead be providing this to miners as a standard service, Glikberg said:
ConnectBTC provides a high detailed user interface, specifying real-time detailed information about the status of each miner, so miners can review and quickly identify any potential problem with their unit.
ConnectBTC has been operating in closed beta since December and has amassed a small amount of hash power since. Glikberg expects that level to grow over the coming months.
Block Size and Scaling
Bitmain and its pools have been at the center of Bitcoins scaling debate lately. The companys co-CEO Jihan Wu in particular is a vocal supporter of Bitcoin Unlimited, an alternative protocol implementation designed to let miners and users change their block size settings.
AntPool is currently the largest mining pool on the Bitcoin network, representing some 15 percent of all hash power, and started signalling support for Bitcoin Unlimited several weeks ago. BTC.com represents an additional three percent, but hasnt signalled support for Bitcoin Unlimited as of yet. Its been suggested that Bitmain effectively exerts influence over the hash power of other Bitcoin Unlimited signalling pools as well though this is has so far been denied by Bitmain and the pools.
ConnectBTC was fully developed by Bitmaintech Israel, independently of any other pool. Glikberg expects the pool will operate fairly independently for now, similar to BTC.com. This also means the pool wont signal support for Bitcoin Unlimited for the time being, nor for other scaling solutions such as Bitcoin Cores proposed Segregated Witness soft fork.
For a lot of us, it seems like the block size debate is the most important topic in the world, but for miners, the most important thing is to keep their machines running with minimal down time, he said. Miners have a vast interest in stability, just like most players in the industry. I think that's why we are seeing a lot of hashing power staying on the fence. At the moment, the pool is not voting either way. I think that large part of the miners are still undecided about the best way to go.
Though, as for a potential future direction, Glikberg didnt exclude the possibility that his pool may decide to support a block size limit increase later on.
We are talking to many miners, and we hear more or less the same thing miners want to see bigger blocks and at the same time dont feel comfortable with any proposed solution. I'm sure that once miners feel comfortable enough with any proposed solution, they will signal for it.
View original post here:
Meet ConnectBTC: Bitmain's Newest Bitcoin Mining Pool - Bitcoin Magazine
- Chinas Bitcoin Exchanges Say Banks Will Close Their Accounts [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- How I created my own bitcoin [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- How I created my own bitcoin-like currency [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Bitcoin players knock on Washington doors [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- How does Bitcoin work? - Bitcoin [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Should We Do a Bitcoin Sketch? - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Bitcoin Talk Show #4 with Chris Ellis and Thomas Hunt - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Bitcoin - an Introduction - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Bitcoin ATM Unveiled on Capitol Hill - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Fla. Bitcoin Case Tests Money Laundering Limits - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Capitol Hill Bitcoin ATM...No Anonymity! April 10 2014 - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- BREAKING: US Congressman Steve Stockman To Introduce First Bitcoin Bill - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- 10 Things You Didn't Know About BitCoin - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- All about Bitcoin - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Internet vs Bitcoin - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Bitcoin: The Future of Currency? - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Watching Bitcoin dropping to new lows - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Bitcoin ATM unveiled in Washington DC: revolutionary digital currency arrives on Capitol Hill - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Qu'est-ce que le bitcoin ? - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Decentralize Everything -- Congresswoman Velazquez supports Bitcoin -- Stallman in Vienna - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Drake Bitcoin's Here Music Video - Bitcoin T Shirt Store - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- China tightens leash on bitcoin - Biz Wire - April 4,2014 - BONTV China - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- What is BITCOIN? Andreas Antonopoulos & Amir Taaki explain BTC value - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Texas Bitcoin Conference - Robocoin & Coinvault ATM - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Texas Bitcoin Conference - BitShares - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Is Bitcoin the Future of Money? (with Timothy B. Lee) - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Robert Murphy at Texas Bitcoin Conference 2014 about Austrian Economics, money theory and Bitcoin - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- CryptexCard - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Father of Virtual Reality on Bitcoin April 8 2014 - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- California's first bitcoin ATM launches in Silicon Valley - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Bitcoin Fight Night: Kickboxing for bitcoin and Max Keiser 'defeats banksters' - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Bitcoin blunder: Satoshi Nakamoto denies all involvement with cryptocurrency [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Bitcoin gets easier for consumers to buy, spend [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- 11.04.14 Forex, Bitcoin Romanov Capital - Video [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- USA: Capitol Hill gets its own Bitcoin ATM - Video [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Bitcoin, a moeda virtual. - Video [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Bitcoin creator Satoshi Nakamoto tracked down, but says story has no currency [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Bitcoin's backers know they need to win you over [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- [Structure] Heartbleed and Bitcoin - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- BitCoin mining frame - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Where Do You Think US Bitcoin Regulations Are Headed? - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Dwyer 4-11-14 Bitcoin Update - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- 4/10/14 - China & BTC, Bitcoin Tax Solutions, Libra, BitInvest Coincards - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Ben Lawsky & NY Regulators on Bitcoin - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Bill to Change IRS Ruling on Bitcoin - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Bitcoin is not over! Bitcoin Indian Food Night Saturday! (adult language, parody and yelling) - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- Demonstrating a Bitcoin ATM at Dig South - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- 10 Things You Didn t Know About BitCoin - Video [Last Updated On: April 14th, 2014] [Originally Added On: April 14th, 2014]
- How Bitcoin Works in 5 Minutes - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Bitcoin Below $400, Massive Security Breach, 4,000 Merchants, and Congress - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Reddit Co-founder Alexis Ohanian talks Bitcoin security, Mt. Gox on Joe Rogan Experience - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Cointools: Drupal & Bitcoin == $awesome - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Bitcoin ATM, Black Star Pastry, Rosebery, Sydney, Australia (Vending machine, BTM) - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- My Bitcoin Call to Alex Jones Infowars Digital Paper Wallets Storage - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- The Bitcoin Group #25 (Live) -- Bitcoin Sports -- Gox Buyout? -- Sidechains -- Dogecoin Merged? - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- 4/11/14 - China, Mt. Gox buyout, Gyft Cloud, BIT, new bitcoin symbol - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- 9 Year Old Explains Bitcoin - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- CITP Bitcoin Panel 2 Altcoins - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Why US Regulators Should Go Easy on Bitcoin - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- In Crypto We Trust Hackathon Pitches - Bitcoin Expo 2014 - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- CITP Bitcoin - Panel 1: Economics and Public Policy - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- David Chen of Lightspeed Ventures visits Plug and Play Bitcoin - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Video: Roundup of This Week's Bitcoin News 11th April 2014 - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Peace and Bitcoin Remastered - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- [Bitcoin] Cannot be divorced from pre-existing political theory - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Bitcoin Trade 114 - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Wall Street's Fair Value of Bitcoin - Inside Bitcoins NYC 2014 - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Elliotte Wave Technical Analysis Applied to Bitcoin - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Bitcoin Wisdom Depth Chart - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Live - Paris Bitcoin Startup #2 @TheFamily - Mercredi 16/04/2014 ds 19h - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Not Tax Day, Bitcoin Day! - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Preview: The Bitcoin Uprising - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- WCN Live: iNacho -- an interview with Jerica Truax -- win a bitcoin by rating Nachos! 🙂 - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Can You Use Bitcoin for a Tax Haven? - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- What Is Proof Of Stake In Nextcoin (NXT) vs. Proof Of Work In Bitcoin (BTC) - By Tai Zen - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Bitcoin, little failures and huge successes - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Dutch Ethereum & Bitcoin Meetup: Coin Unlimited over Bitcoin en altcoins - Edwin van den Ouden - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Dutch Ethereum & Bitcoin Meetup: Tor (The Onion Router) Joachim de Koning - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Dutch Ethereum & Bitcoin Meetup: First Steps in Ethereum - Joachim de Koning (part one) - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Dutch Ethereum & Bitcoin Meetup: First Steps in Ethereum Joachim de Koning (part two) - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]