Chinese mining hardware giant Bitmain, one of the leading Bitcoin (BTC) mining firms worldwide, announced its policies for mining practices, according to an official blogpost July 25.
The recent list of policies intend to show Bitmain’s commitment to providing a “fair and transparent cryptocurrency ecosystem” in terms of policies for mining hardware shipping as well as those of mining practices.
Regarding shipping, Bitmain proposed four major measures including order quantity restriction, establishment of a “first-paid-first-ship” order of fulfillment, combatting “hoarding” practices, as well as publishing monthly reports on shipping updates.
Every 30 days, the company will disclose data advising the community on which algorithms Bitmain is mining for itself as well as the total hashrate of Bitmain hardware on those algorithms.
Bitmain reiterated its zero tolerance policy on “secret mining” practices.
Chinese mining company Bitmain has announced it is exploring new policies that will boost the company’s transparency and communication with the cryptocurrency community. In a company statement, Bitmain said, “We believe that communities served by Bitmain and its products should be supported and served as transparently as possible. Speaking with Bitcoin Magazine, a Bitmain representative
Chinese mining company Bitmain has announced it is exploring new policies that will boost the company’s transparency and communication with the cryptocurrency community.
When it comes to cryptocurrency, it seems that there are always two sides of the (bit)coin. On the negative side, there’s everything that can go wrong.
A month after authorities in Quebec lifted a moratorium on allowing Bitcoin miners, local businesses have begun threatening to leave suspecting unfair policies. ‘Very Saddened’ In a series of tweets June 28, D-Central founder Jonathan Bertrand claimed that due to conflicting interests and agendas at government level, as well as an “intense lobbying effort” from the world’s largest mining corporation Bitmain, had left smaller participants “completely stunned.
The EU’s Policy Department for Economic, Scientific and Quality of Life Policies released a report entitled “Virtual currencies and central banks monetary policy: challenges ahead.
Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.
Mining Chinese bitcoin mining giant Bitmain has revealed the total hashrate of all its cryptocurrency mining hardware. This was done as part of a larger push towards greater business transparency by the company ahead of its rumored massive IPO.
