RE: Crypto Mining Saga Part 2: New Miner, New Pool

[th1nkfast]

I hate minergate, they tax you tons of fees, their miners are not open source plus their the scammers behind bytecoin! I wish you success with the new pool, great movement!

Comments

[kslo]

Thanks, @th1nkfast, I'm actually pretty happy with the new pool and it seems to be generating a lot more than when I was mining with Minergate. I haven't done any research in to bytecoin, is it a scam?

[th1nkfast]

@kslo

Yeah, I noticed the same thing when I leaved minergate. Their software is not open source so we do not know what might be running they can easily be using a small amount of our cpu to mine for them. About bytecoin, I will link a comment made by a user named keledoro on reddit! I will suggest you to read the first link, its pretty interesting!

Yep, scam.
(1) Pre-mine, faking proofs etc.: https://bitcointalk.org/index.php?topic=740112.0
(2) Exploiting the cryptonote bug and creating a couple of BCN: https://monero.stackexchange.com/questions/4241/how-does-the-recent-patched-key-image-exploit-work-in-practice/4252#4252
And, their relationship to the cointelegraph is also interesting as well: https://medium.com/@iandemartino/more-on-cointelegraph-by-a-former-writer-b4e1058b37ca. Especially the fact, that writers were given instructions on how to frame all stories around bytecoin in a way that they align with (1), e.g.

[kslo]

Very interesting reads! Thanks for posting them!