Bitminter mining pool shutting down

[btc_angela]

https://bitminter.com/

It says it all, Bitminter will be shutting down its mining pool effective 2020-07-01.

The difficulty of finding a block, as the difficulty adjustment post halving. However, this is just the economics of bitcoin mining.

And I'm pretty sure that in that 9 years, they have significantly contribute to the mining industry to keep bitcoin afloat. It's just too bad that they can't keep up today.

[coupable]

Bitminter is a great pool. I didn't know that it has been running for almost over 9 years as i was a miner during 2013 to 2014 and the pools were so few and most of them changed their brand name or shut down.

Results of recent halving started to appear on surface. After this news, i expect many other small mining businesses will follow Bitminter as they can't resist.
I think about small miners who use this pool and what they have as alternatives as they can't even sell their old  mining stuff at a good price.
Let's wait and see what will happen next...

[btc_angela]

Bitminter is a great pool. I didn't know that it has been running for almost over 9 years as i was a miner during 2013 to 2014 and the pools were so few and most of them changed their brand name or shut down.

Fortunately, they have been in the business for 9 years. And they really survived, however, with the recent halving, they went out of business.

Results of recent halving started to appear on surface. After this news, i expect many other small mining businesses will follow Bitminter as they can't resist.
I think about small miners who use this pool and what they have as alternatives as they can't even sell their old  mining stuff at a good price.
Let's wait and see what will happen next...

There could be more mid-tier mining pool that will go out of business because it's no longer profitable to mine bitcoin with old mining gear. And as I have said, this is the economics of bitcoin mining, you need to readjust if you want to stay in business for many years.

[Taskford]

Bitminter is a great pool. I didn't know that it has been running for almost over 9 years as i was a miner during 2013 to 2014 and the pools were so few and most of them changed their brand name or shut down.

Fortunately, they have been in the business for 9 years. And they really survived, however, with the recent halving, they went out of business.

Results of recent halving started to appear on surface. After this news, i expect many other small mining businesses will follow Bitminter as they can't resist.
I think about small miners who use this pool and what they have as alternatives as they can't even sell their old  mining stuff at a good price.
Let's wait and see what will happen next...

There could be more mid-tier mining pool that will go out of business because it's no longer profitable to mine bitcoin with old mining gear. And as I have said, this is the economics of bitcoin mining, you need to readjust if you want to stay in business for many years.

So sad to see them closing down since this will have an effect on bitcoin and also wonder if those mid tier as well those bigs will shutdown provably we will be in worse case scenario since this could lead to slowing down the transaction speed or anything bad impact with bitcoins.

This will be a survival of the fittest on the miners side.

[Jating]

Bitminter is a great pool. I didn't know that it has been running for almost over 9 years as i was a miner during 2013 to 2014 and the pools were so few and most of them changed their brand name or shut down.

Fortunately, they have been in the business for 9 years. And they really survived, however, with the recent halving, they went out of business.

Results of recent halving started to appear on surface. After this news, i expect many other small mining businesses will follow Bitminter as they can't resist.
I think about small miners who use this pool and what they have as alternatives as they can't even sell their old  mining stuff at a good price.
Let's wait and see what will happen next...

[..snip..]

So sad to see them closing down since this will have an effect on bitcoin and also wonder if those mid tier as well those bigs will shutdown provably we will be in worse case scenario since this could lead to slowing down the transaction speed or anything bad impact with bitcoins.

This will be a survival of the fittest on the miners side.

I think short-term there will be an impact, and as reported 30% of the miners are either going to stop their business or try to stay on the game and squeeze some profits. But I think the most likely, those small and mid tier will have to succumb sooner or later.

Yes its sad to see them go but as you have said, it is survival of the fittest and only the strong survived. But we don't know, maybe in the future they will be back with a bang.

[hugeblack]

My knowledge of mining is preliminary, but I looked for them, they have been working since 2011, but their current percentage is very small. It makes sense to see them leaving.
Perhaps the company’s philosophy is based on the higher the investment, the higher the return, and the sizes of the shares depend on the investment packages that led to the bankruptcy.
I don’t know, but Binance joining this field will lead to a lot of Mining pools to leave.