Binance launches mining pool for Ether: zero commission for the first month

After its Bitcoin mining pool in April, Binance also launched an in-house pool for Ether

Following its Bitcoin mining pool (BTC) in April, the well-known crypto currency exchange Binance launched an in-house mining pool for the second largest crypto currency on the market, Ether (ETH).

For the first month, between 12 November and 12 December, in order to promote the service Binance will allow miners to use the pool without any additional fees. After this period, pool participants will have to pay a fee of 0.5% of their earnings.

The following minimum requirements will be required to Bitcoin Future enter the mining pool: Windows or Linux operating system, Nvidia or AMD GPU with at least 4GB of memory, 5GB of virtual memory per GPU and the use of mining software such as HiveOS or Easy Miner.

Ethereum’s mining pool will use a payment system similar to Bitcoin’s, called Full Pay Per Share (FPPS), which eliminates the luck element and reduces the variation in rewards for miners. The Bitcoin pool offered by Binance also offers the attractive Smart Pool feature, which allows participants to automatically extract the most profitable cryptocurrency, provided it is based on the SHA-256 algorithm: Bitcoin, Bitcoin Cash or Bitcoin SV.

According to BTC.com data, Binance Pool currently accounts for 9.4% of the total hash rate on the Bitcoin network. Currently 50% of BTC’s hash rate is in the hands of only four large pools: F2Pool (18.5%), Poolin (12.2%), BTC.com (11.6%) and AntPool (11.5%).

Bitcoin critic Jeffrey Grundlach describes Bitcoin as a suitable hedge against inflation

Jeffrey Grundlach recently announced that he saw Bitcoin and gold as a suitable alternative to bonds to prepare for inflation. He had only spoken out against the cryptocurrency at the beginning of October 2020 during an interview called „Bitcoin, a lie“.

During a gigAt the webcast on November 2, 2020, Jeffrey Gundlach, also known as „Bond King“, bond manager and CEO of DoubleLine Capital, spoke about the cryptocurrency Bitcoin . Declared in 2017that he has no intention of investing in BTC.

A month ago Gundlach doubted the anonymity of Bitcoin and questioned the security of the cryptocurrency:

I don’t believe in Bitcoin and I think it’s a lie. I think it can very well be tracked and don’t think it’s anonymous.

Despite this sharp criticism, Grundlach stated that he was by no means a Bitcoin hater

Just a month later, he confirmed his statement and even went one step further. During his speech, he told the audience that in times of the COVID-19 pandemic, it was important to own real assets to hedge against impending inflation. In his opinion, gold and Bitcoin are ideally suited for this.

With this unexpected recognition for the cryptocurrency Bitcoin, Grundlach spoke out in favor of BTC investments for the first time

He added that he still believes gold will continue to make significant gains over time. Together with David Rosenberg, the founder and chief strategist of Rosenberg Research, he was also skeptical about the intrinsic value of long-term bonds. Even so, investors should protect their portfolios.

In the US election year 2016, Grundlach predicted Donald Trump’s victory for the presidency of the United States. Even if he is not so sure about the current election, he thinks that Trump will be elected again.