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Title: -- Archived -- Post by: Wolfy10 on August 29, 2019, 01:17:34 AM -- Archived --
Title: Re: Luxor Catalyst: Mine Altcoins get Bitcoin Post by: Docnaster on August 29, 2019, 12:46:48 PM Wouldn't this bring unnecessary traffic to shitcoins? Clogging their network up way before it even matures to support such high difficulty?
This might just make mining those altcoins unprofitable altogether. And how do you solve the available market volume issue? Title: Re: Luxor Catalyst: Mine Altcoins get Bitcoin Post by: leea-1334 on August 30, 2019, 10:08:41 AM Catalyst: Now you can mine Bitcoin with any ASIC or GPU. Catalyst uses smart coin-conversion technology to allow you to mine Bitcoin with any miner. Miners remain in control of their hashrate as they keep hashing in the Altcoin network while being rewarded in Bitcoin, aka Digital Gold. Mine Monero get Bitcoin, Mine Zcash get Bitcoin, Mine Sia get Bitcoin, Mine Decred get Bitcoin, Mine LBRY get Bitcoin, Mine GRIN get Bitcoin, Mine Horizen get Bitcoin, Mine Komodo get Bitcoin! In the future, we are enabling partial conversion to Bitcoin so you'll be able to get Altcoins as well. #HODL. Let's know your thoughts on Catalyst, we're going to implement improvements based on your feedback! Full article: https://medium.com/luxor/catalyst-mine-altcoins-get-bitcoin-e1bbc2258cc4 This is NOT the same as mining Bitcoin to my understanding! This is just mining altcoins,,, and then selling it or converting it to you guys for BTC. So you actually lose much more because for sure you will charge the exchanger a fee or a commission. Why not just advertise as mining altcoins? Then it is clear what this is. Title: Re: Luxor Catalyst: Mine Altcoins get Bitcoin Post by: jrrsparkles on August 30, 2019, 01:29:29 PM The mining process remains untouched therefore, this doesn't affect the share submission for Altcoin miner. Miners will still be finding valid solutions for the altcoin chain. Is there any reason to use your service since we can mine altcoins and convert into bitcoin on the exchanges right?Catalyst doesn't change profitability or mining difficulty. Only affects the currency payments are made. And also mention about the prices to convert mined coins into bitcoin. If there is no fee then this may worth try since it can reduce the expenses of trading fee and withdrawal fee from an exchange. Title: Re: Luxor Catalyst: Mine Altcoins get Bitcoin Post by: jrrsparkles on September 01, 2019, 04:03:35 AM The mining process remains untouched therefore, this doesn't affect the share submission for Altcoin miner. Miners will still be finding valid solutions for the altcoin chain. Is there any reason to use your service since we can mine altcoins and convert into bitcoin on the exchanges right?Catalyst doesn't change profitability or mining difficulty. Only affects the currency payments are made. And also mention about the prices to convert mined coins into bitcoin. If there is no fee then this may worth try since it can reduce the expenses of trading fee and withdrawal fee from an exchange. With Catalyst, we're just aiming to make mining a tad easier. You don't have to worry about the exchange process. Coins are converted at current market value. We are still adjusting the fee but we're looking to settle at 2% and that covers network, exchange and Luxor fees. So for 2% extra, you get BTC in your wallet hassle-free. Anyway any minimum amount of crypto to be converted? like 0.001BTC! Title: Re: Luxor Catalyst: Mine Altcoins get Bitcoin Post by: Red-Apple on September 01, 2019, 10:42:23 AM Wouldn't this bring unnecessary traffic to shitcoins? Clogging their network up way before it even matures to support such high difficulty? This might just make mining those altcoins unprofitable altogether. And how do you solve the available market volume issue? nah, it is actually interesting because it is cutting the extra step that altcoin miners have to take by charging them a fee. basically altcoin miners are mining altcoins then have to wait they receive the coin and move it to an exchange to dump and them cash out the bitcoins. OP is just cutting those middle steps and gives them bitcoin although it seems like the fee he is charging is huge though. |