Comparison and Analysis of Chinese and Foreign Cloud Hash Exchange Platforms

Bitcoin can’t be separated from mining and transaction since its birth. Mining is still a blank field for most investors. Investing in mining can be considered as investing in futures of bitcoin, just like any products’ futures, functioning as spot hedging. However, the entering threshold of bitcoin mining has raised a lot due to its specialty, thus cloud hash exchange has become a source of profit. Several pictures below will help investors to understand the existing cloud mining exchange platforms.

1. Profile of cloud hash exchange platform

Currently, the operating cloud hash exchange platforms in China mainly include pow88, hashnet and adminbtc while foreign platforms including CEX.IOKnCMiner and PBMining. As shown in the form below, each one differs from another. The hashing power sold by several Chinese platforms has no contract period. The hash product will be removed when its theoretical benefit is lower than the maintenance fee. While KnCMiner and PBMining have 6 months and 5 years contract respectively. When asking the staff of above websites about how to guarantee the benefits of their users within contract period, no exact answers were given and the only reply was that benefits during the contract period would be 100% returned to users. Digcoin and ourhash, these two platforms are still under beta test, no specific details yet.
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2. Sales price of hashing power

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Making a crosswise comparison of the hashing power’s price in two dimensions of BTC and RMB, we can see that adminbtc and pow88 have the lowest hash power selling price, 0.0007BTC / GHs and 0.00104BTC / GHs respectively which equal 2.76yuan/GHs and 1.86 yuan/GHs. The prices of these two platforms are that of secondary hashing power trading market which will change due to the actual trading depth. However, the price of foreign hash exchange platforms is above 0.0015 BTC/GHs, higher than Chinese ones.

3. Mining efficiency and hashing power maintenance fee

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Mining efficiency and hashing power maintenance fee are important indicators to measure hash exchange platform. The published data of six exchange platforms shows that KnCMiner and PBMining have no maintenance fee(including electricity fee). That’s also the reason why it adopts fixed term contract, for they want to cover the maintenance fee of a fixed period by putting sales price higher. Pow88 has the lowest maintenance fee among the other four. Its daily maintenance is 0.0192 yuan per GHs, which can enable to extend the users’ hashing power life cycle to a certain extent. As for mining efficiency, Adminbtc is the only one reaches 87.5%, except for 12.5% maintenance fee, electricity cost shall be deducted at the same time. The other ones are 100%.

4. Mining rigs entity, Hash financing and hash secondary market

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For a hash exchange platform, besides purchasing official hashing power, there are other ways to provide more guarantees for investors. Such as entity mining rig support, hash financing and secondary trading market.
The support of mining rigs entity is of great significance, which is essential for the survival of platforms selling first-hand hashing power. Currently, Pow88, hashnest、CEX.IO、KnCMiner and PBMining do have their own entity mining farms. And Ourhash sells no first hand hashing power but allows users to trade their own freely on its platform.
In addition, secondary trading market is an important guarantee for users to liquidate their hashing power. The current platforms offering secondary trading market are pow88, adminbtc and CEX.IO. Price is determined by both buyers and sellers markets.
What’s more, pow88 provides users with a project called joint mining. It actually has the function of financing hashing power and BTC according to my own experience. Ordinary investors can buy hashing power with BTC in secondary trading market and achieve some profits, the leverage of borrowing BTC is 2 times. For the owners of small and medium-sized mining farm can obtain double hashing power lending and sale that in market, to help increase the liquidity of mining rigs entity.

5. Comprehensive comparison

Taking 1THs hash for example:
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The indicators of Pow88 and KnCMiner are looking good. Opening KnCMiner’s website is a bit slow in China due to its server abroad, and full page in English, people may have certain difficulties to read. Investors with better English are suggested.
The biggest advantages of pow88 are easy to operate and lowest maintenance fee. The project of joint mining is also an innovation of the industry, which allows small and medium-sized miners and investors borrow out certain hashing power or BTC by using a small amount of deposit and brings investors more profit space.

Notably, the above just help us to understand the existing cloud mining exchange platforms from a few aspects, and the data used in the article just the data during the writing time. As a whole, actual data published by the site shall prevail. How to choose, investors should consider carefully by yourselves. Under the circumstance of prolonged low bitcoin’s price, there is risks in hashing power investment.

Original Link: http://www.btcside.com/new/detail/2254
Original Author: 老迈
Translated by Bitell

Bitcoin Payment Companies in China

Bitcoin payment, simply speaking, is equivalent to the third party payment companies such as PayPal and Alipay. Payment companies reach cooperation with merchants and provide payment technology, model, as well as payment scheme. The difference between the Bitcoin payment companies with traditional ones is that the whole process is completed by bitcoin.

Bitcoin payment is the one of the key points of the whole industry development. BofA-Merrill Valuation Analyst David.Woo said before, bitcoin needs to achieve three iconic targets if it is wanted to become the mainstream currency: 1. 10% of global e-commerce B2C transactions choose bitcoin payment. 2. One of the three top options for money transfer. 3. Reaching hedging reputation like silver at least.

Famous foreign Bitcoin payment companies include Bitpay, Coinbase, Gocoin and Circle etc. Here are brief introduction of some major Bitcoin payment companies in China:

  1. Bifubao.com (/Bitfoo)
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    Bifubao.com is founded by Xiaolai Li, the founder of Bitfund.pe, providing services of payment and wallet. Nowadays, the main function of the Bifubao is fast sending and receiving bitcoin. The missions of Bifubao.com are user-centered, extremely professional and Security focusing.

  2. Blockpay.net
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    BlockPay is the first cross-boarder Bitcoin Payment platform in China. Based in Shanghai and Founded in 2014 by Mr. Hitters Xu, a former Google employee who has been working in foreign trade industry for years. Cross-border online store DinoDirect.com announced the partnership with BlockPay on September 22. Blockpay offered bitcoin cross-border payment solutions for DinoDirect.com, which had caused great repercussions in the industry. Blockpay and coinport.com broke out domain name dispute in September 2014, and the founders of the companies have repeatedly issued open letters on weibo (Chinese version Twitter).

  3. Pay.coinport.com
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    Pay.coinport.com is the world's first transparent trading platform. Which is registered in Hong Kong, and it’s a wholly owned by Coinport Inc. Its technical team is located in Shanghai, China. The biggest advantage of coinport is fully transparent, which is due to the fully open policy of the platform, including source codes’ open, data open and reserves prove.

  4. BTCt.com
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    BTCt.com was founded by Yaoyuan in August 2013. It is the first domestic bitcoin securied transaction platform based in Shenzhen. Committing to the establishment of the eco-circle of bitcoin and making bitcoin into the real life. The core of its products and service is being simple and secure. The main businesses of it include mining pool and online shops, wallet and games.

  5. bitbill.com
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    Bitbill.com was founded in Nov. 2013 by Tom Tan, headquartered in Yangzhou. It has been engaged in Bitcoin related technology development. Besides, it aims to become the leading bitcoin payment solutions provider in China. Tom Tan is born in Gaoyou, Yangzhou in 1981, graduated from Southeast University majoring in computer software. He worked in Cisco from 2008 to 2011, founded Linju.com in April 2011 and jointly founded bitbill.com in July 2013.

Related link: http://www.btc798.com/article-5856-1.html

ROCKMINER New R-BOX Bitcoin Miner Review

In May this year,ROCKMINER released the first daisy-shaped USB miner called R-box (Hashrate:32-36G, consumption:50W). Recently they launched a new version about this USB miner which code-named 'New R-box'(12 chips with Hashrate:100-110G,consumption:110W).

1. Package:

The miner with plastic film.
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New R-box with gift packaging. White box with Rockminer and bitcoin logo,looks nice.
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Package includes: Pci-e 6pin power line extension (about 50CM long) and USB data line (about 45CM long) each.
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- Read more -

You Can Top up Mobile Phone and Q-Coin Account with Bitcoin in China By Btctelecom

Btctelecom, the first BTC recharging website in China, has realized using bitcoin to recharge cellphone or Q-Coin account.
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On this platform, people can directly use bitcoin to recharge for China Mobile, China Unicom and China Telecom mobile phones. Direct recharge without third party, the whole process is fully automated. Besides recharging, it also sells game cards and gift cards for a few big online stores.

Features of Btctelecom:

  1. Convenient. Payment can be done as long as you’re connected to internet.
  2. Effective. Recharging starts from at least 1 confirmation. 5 minutes arrival fastest.
  3. Secure. 24 hours current price shown, small price fluctuation.

Hongkong-based Digital Assets Exchange --- Melotic

Melotic Inc., founded by Jack Wang(former CEO of Bifubao) and Yin Chen in June 2014, is a cryptocurrency technology company based in HongKong. It has already closed the seed round with investors of Barry Silbert, Rui Ma, Marc Van Der Chijs etc. Tim Swanson has recently joined to work together with the team as well. Melotic is aimed to create a global market with no barriers, no middlemen, and real price discovery, a digital asset exchange, where anyone, anywhere in the world can participate in a liquid market for digital goods.

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As we may find there are only countable kinds of altcoins for trading on Melotic platform. According to Jack Wang, "Our goal is to be more selective about which digital assets we provide liquidity for, and also to work with specific issuers so that we can provide additional value to those issuers besides allowing their assets to trade." Such as the newly launched gold market. On September 25, Melotic and DigitalTangible(A gold ETF-like platform that uses the Bitcoin protocol technology) have partnered to create a true GOLD/BTC trading market, where users can trade real gold with bitcoin. "The gold tokens represent actual gold that is stored in custody and traceable on the block chain, along with proof of purchase. What's more, the gold token holder can actually take delivery of the gold if they choose. This makes our gold asset a real gold market, and allows anyone with bitcoin to also buy, sell, and store real gold just using our service, without having to worry about the typical difficulties of trading gold. It is also a good way for bitcoin traders who may want to exit bitcoin if they believe that the price will decline." Further explained by Jack Wang.

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With a clean and friendly interface, easy-to-use API, and the lowest trading fee in the industry, with 0.1% transaction fees for buys and sells on most markets, Melotic is ready to bring you a new experience.