Bitcoin.com has launched its mining page, where newcomers can learn all the basics about how our favorite digital currency is created. Genesis Mining is helping promote our educational efforts on the mining front by being our first featured cloud mining service.
Bitcoin.com’s New Mining Page
The mining page on Bitcoin.com currently features a brief explanation of Bitcoin mining, with a short YouTube video also explaining the process.
Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
The page also has a basic comparison of cloud mining and “home” mining, showing newcomers basic differences they should take into account when deciding to buy a home mining rig or participate in a pool. The categories of comparison are:
- Hardware Pricing
- Shipping/Custom Costs
- Electricity Rates
- Delivery Times
- System Maintenance
- Additional Equipment
- Electricity Consumption
- Cost of Cooling
- Excessive Heat/Loud Noise
Recommended cloud mining services are also featured on this new page. Currently, Bitcoin.com’s only partner in this educational project is Genesis Mining, a cloud mining firm with over 100,000 users.
Bitcoin entrepreneur Roger Ver endorses Genesis Mining, saying:
Mining is what secures the Bitcoin network. Genesis Mining makes it easy for anyone to get involved.
Genesis CEO Marco Streng is also excited about working with the website to educate people on mining:
It is important that Bitcoin grows. We are engaging a lot to bring Bitcoin to the masses and partnering with Bitcoin.com is a great step for us going forward!
We are working to form partnerships with other reputable cloud mining firms, so be sure to check the mining page often for new featured cloud mining services.
About Genesis Mining
Genesis mining was formed at the end of 2013 by a team of Bitcoin enthusiasts who met each other through buying and selling bitcoins on the same platform. With over 100,000 users, Genesis advertises a high quality mining platform for both bitcoin and various altcoins.
On the Genesis Mining website, the company presents livestreams at two of their Bitcoin mining facilities in Iceland. The website states that these two locations “represent only a fraction of the farms we own,” and that several other assets are not shown for the sake of “customer protection and security.”
The cloud mining service offers 3 different packages for Bitcoin mining. A Gold plan gives customers 100 GH/s of hashing power for $26 USD. The Platinum plan allocates 2,000 GH/s to customers at a price of $499. The “max profit” Diamond plan gives buyers 10,000 GH/s for $2,400. All three bitcoin mining packages are advertised as lifetime plans.
Genesis also has Gold, Platinum, and Diamond plans for X11 and Ether, with similar pricing to the Bitcoin plans.
What do you think about our new mining page? Let us know in the comments below!
Image courtesy of Genesis Mining