Events 23 November 2018

Paul How

Joe Chin on why miners should join SVPool: Like Bitcoin SV, we place miners first

CoinGeek Mining and Hardware CEO Joe Chin, in a recent presentation, enumerated the advantages of mining with SVPool as well as running Bitcoin SV.

Even with SVPool establishing itself among Bitcoin BCH miners soon after its launch last October, Joe Chin, CEO of CoinGeek Mining and Hardware, continues to think of how to draw miners in.

At the CoinGeek-sponsored Bitcoin Miners Choice Summit held at The Grand Harbour in Hong Kong last November 2, Chin discussed the advantages of mining with SVPool as well as running the Bitcoin SV. SVPool, a personal initiative of nChain Chief Scientist Dr. Craig Wright, is managed by CoinGeek Mining and proudly runs the Bitcoin SV full node implementation.

Chin told the audience, “Just because we launched [in October] doesn’t mean the work stops there. Almost on a weekly basis, every sprint, we’re adding new features. We’re also thinking of ways to incentivize miners who mine with us. We’re working on plans perhaps to give them access to the new miner hardware that we will release shortly.”

Chin also believes it’s important to remain receptive to miners’ needs regarding costs and payments. “[W]e also have feedback from miners, that many of them desire the steady income of PPS+ [pay per share plus], so we will be introducing that shortly. But I still believe that with zero fees, and if you have enough hash rate, you can actually do very well with the [current] PPLNS [pay per last N share]. And we’re also working on promotions and loyalty programs. So those will be announced in the very near future. So I encourage you guys to go to svpool.com/, and sign up. It’s very, very easy, so please do.”

Although coming to the mining pool scene rather recently, SVPool brings much experience in competing with other pools. “[W]e started a beta launch for invitation, customer only, in September, and that helped us debug the system… SVPool has a global infrastructure, but more importantly for a lot of you, it’s optimized for Chinese miners. So we have a node right inside China, so as to make sure you have the best, the most optimized performance. And of course, the whole purpose of SVPool is to run and support Bitcoin SV protocol. And also, we provide world-class bilingual customer service in Chinese and English, so it is very much, from your perspective, built for Chinese miners,” according to Chin.

He noted that SVPool supported the Bitcoin SV implementation, designed to maintain the principle of ‘longest chain wins’ as decided by users on their computers. SVPool, he said, “supports stable, scalable, and secure protocol, and it’s a professional Bitcoin platform, and it supports big blocks that are miner-configurable, and in the future, it will increase your revenue as miners.”

Chin said when the block reward halves in 2020, miners will want to make sure their earnings don’t take a hit. “[W]e will help you increase your earnings, even when we’re looking at the halving in 2020,” he said.

If you’re interested in learning more about Bitcoin SV and all the new developments in nChain, join the CoinGeek conference in London from November 28 to 30, with the special, invitation-only Miners Day event on November 27. It’s the perfect opportunity to meet the members of the BCH community and discuss not just the ongoing reality of Miners Choice for Bitcoin going forward but also why enterprise applications needing Bitcoin should stop moving in order for the ecosystem to grow. Also, join the (free) bComm Association and be part of the crypto revolution.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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