Chinese Crypto Pools are Shutting Down (Sparkpool was just the first)

[Ardvark69]

With the crackdown in China likely we will see all crypto pools shutdown. The biggest pools in ETH and Chia are Chinese. Given that their servers are in China likely the Chinese government can use their servers to track their customers, scary stuff and exciting times for miners/farmers outside China as total hashrate will likely decrease signifigantly.

PS: Consider Flexpool for all your mining needs. We're the most profitable major pool according to mining pools monitor bot on telegram having averaged 2.52 a day for the past 2 months versus ethermine at 2.51, 2miners at 2.46, spark at 2.44, crux at 2.36, hive at 2.29, nano at 2.26.

We have the lowest fees of the major pools and the most active support. Plus we're  a Canadian company so its probably "less" likely we are stealing or running away with your crypto.

[Xazax310]

I've never heard of Flexpool till this year and somehow they are now "The best pool". I find Flex-pool highly dubious...

[JayDDee]

I have to agree. It would be a standard shill post except it was written in the first person:
"We are the most profitable...", "We have the lowest fees...".

Oops, a shill is someone pretending not to be related to the product being samelessly promoted.

[alucard20724]

With the crackdown in China likely we will see all crypto pools shutdown. The biggest pools in ETH and Chia are Chinese. Given that their servers are in China likely the Chinese government can use their servers to track their customers, scary stuff and exciting times for miners/farmers outside China as total hashrate will likely decrease signifigantly.

PS: blah blah blah

We have yada yada yada... blah blah blah

yes... because chinese companies can't do business nor have servers in other countries except China.. 

[Metroid]

Governments can't control most cryptos as most are decentralized, however it can manipulate the price and usage, shut down exchanges and pools if they want to, remember that trace the ip's origin is pretty simple, also they have been working on ways to counter vpns for sometime. In 2013 when china first banned cryptocoins was a real crash, in 2017 less than 2013 and I assume in 2021 will be even less, however people sell because they assume new investors will sell and price will crash a bit, so they sell high to buy the crash, is a matter of who will sell high first and then who will buy the crash first, in the end is all manipulation of prices, crypto as its finest since 2010.

[Ardvark69]

I've never heard of Flexpool till this year and somehow they are now "The best pool". I find Flex-pool highly dubious...

Well we were 10ghs until this year so no surprise.

We're in the top 2 pools along with Ethermine when it comes to long term 2 months profit according to the mining pools monitor bot on telegram along with multiple independent comparisons. There is a large gap between the top 2 pools and the remainder. This is honestly because most pools are doing things. Its kind of crazy how popular this is.

These two posts made it famous:

https://www.reddit.com/r/EtherMining/comments/pat2ts/important_gang_of_thieves_how_mining_pools_are/
https://www.reddit.com/r/EtherMining/comments/pl4n09/ask_your_pool_operators_if_theyre_redistributing/

+----------------+----+------+------+------+------+------+------+
|    eth pool    | TW |  24h |  3d  |  1w  |  2w  |  ▼1m |  2m  |
+----------------+----+------+------+------+------+------+------+
| 1. crazypool   | 62 | 1.93 | 2.17 | 2.07 | 2.07 | 2.64 | 2.85 |
| 2. ethermine   | 40 | 2.12 | 2.22 | 2.19 | 2.16 | 2.32 | 2.48 |
| 3. flexpool    | 80 | 2.03 | 2.19 | 2.16 | 2.19 | 2.29 | 2.49 |
| 4. sparkpool   |  8 | 2.26 | 2.23 | 2.17 | 2.14 | 2.26 | 2.42 |
| 5. f2pool      | 30 | 1.87 | 2.09 | 2.16 | 2.18 | 2.24 | 2.44 |
| 6. ezil        | 38 | 1.88 | 1.89 | 1.91 | 2.02 | 2.18 |  2.5 |
| 7. 2miners     | 61 | 2.42 | 2.04 | 2.01 | 2.02 | 2.13 | 2.44 |
| 8. cruxpool    |  6 | 2.13 | 2.05 | 2.06 | 2.09 | 2.12 | 2.33 |
| 9. hiveon      | 50 | 1.92 | 1.91 |  2.0 | 1.97 | 2.07 | 2.26 |
| 10. nanopool   | 20 | 1.86 | 1.89 | 1.95 | 1.94 | 2.03 | 2.24 |
| 11. viabtc     |  1 | 1.96 | 1.94 | 1.98 | 1.96 | 2.01 | 2.41 |
| 12. zetpool    | 15 |      | 1.03 | 0.82 | 1.47 | 1.79 | 2.29 |
| 13. besafepool |  6 |  0.0 | 0.23 |  0.5 | 0.25 | 0.92 | 1.47 |
+----------------+----+------+------+------+------+------+------+
Scale: e-5 ETH rewarded/MH/s/24h.
TW: count of tracked wallets.

PS: I discount the #1 as Crazy had their database wiped after 1559 so their numbers after 2 weeks are likely not accurate.

[FP91G]

With the crackdown in China likely we will see all crypto pools shutdown. The biggest pools in ETH and Chia are Chinese. Given that their servers are in China likely the Chinese government can use their servers to track their customers, scary stuff and exciting times for miners/farmers outside China as total hashrate will likely decrease signifigantly.

PS: Consider Flexpool for all your mining needs. We're the most profitable major pool according to mining pools monitor bot on telegram having averaged 2.52 a day for the past 2 months versus ethermine at 2.51, 2miners at 2.46, spark at 2.44, crux at 2.36, hive at 2.29, nano at 2.26.

We have the lowest fees of the major pools and the most active support. Plus we're  a Canadian company so its probably "less" likely we are stealing or running away with your crypto.

https://miningpoolstats.stream/ethereum
Your pool is in 10th place in the ranking, and this is not the best position. I am using ethermine.org and am very happy because they are catching very fat blocks all the time
If the pool stops working or there are problems, then it is easy to change it.
I would not bind pools to countries, because they have servers in all major continents.

[rme30]

Sparkpool still has the same hashrate as Ethermine, how come? Did all the miners in China switch to out of China pool servers?

How about big mining farms in China? If they're forced to close operation, since they're too big to function under the radar, shouldn't there be a big drop in the network hashrate and difficulty?

[miner29]

Sparkpool still has the same hashrate as Ethermine, how come? Did all the miners in China switch to out of China pool servers?

How about big mining farms in China? If they're forced to close operation, since they're too big to function under the radar, shouldn't there be a big drop in the network hashrate and difficulty?

Most moved out of country last couple of months.  When profits are at risk business finds a way.

[Ardvark69]

Sparkpool still has the same hashrate as Ethermine, how come? Did all the miners in China switch to out of China pool servers?

How about big mining farms in China? If they're forced to close operation, since they're too big to function under the radar, shouldn't there be a big drop in the network hashrate and difficulty?

I believe Sparkpool is closing down its China region at the end of the month. They removed it from their website today.

[fmz89]

Crypto unloading from china to better hand, to much control before then, this decentalized naturally happen, glad government do this, and crypto became mature