ViaBTC: Mining Pool, Cloud Mining and Bitcoin Revolutionaries

Although ViaBTC just launched in June of 2016, it is already a powerhouse within the Bitcoin mining world. Not only does it command insanely high hashing power and with it, a significant percentage of the found blocks; it also is backed by one of the leading tech firms in the industry, as well. This Chinese based Bitcoin mining company is as serious as they come and have been dubbed the “Most Professional Bitcoin Mining Pool” by the likes of CoinDesk and have gained support from Bitcoin Unlimited along the way.

Company History

Launched in June of 2016, ViaBTC is considered a new mining pool within the world of digital currency mining. Founder and CEO of ViaBTC, Haipo Yang, started ViaBTC with a small group of people that he worked with at Tencent, a Chinese Internet giant. Utilizing previous experience that he gained while working for Zeusminer in the capacity of maintaining a Litecoin mining farm, Yang launched a very well thought up and very well designed system.

Since the first day that ViaBTC went live until the present time, the pool has found 2266 total blocks, resulting in 30103 coins and has had, amazingly, only 1 single orphaned block. With 220 PH/s, it made many people wonder how a new pool could command so much power. The answer was simple: ViaBTC is backed by Bitmain. Yes, the same Bitmain that created the Antminer mining hardware and the operator of both Antpool and BTC.com mining pool.

So, while it not only solved the mystery of how a new mining pool could command so much hash rate, it also lent instant credibility and one hell of a reference to ViaBTC.

Mining Options

When you visit ViaBTC’s website, you have the option of connecting your own mining rigs, if you have them or to purchase a cloud mining contract. They sell the cloud mining contracts on a per share basis. If you are wondering about their reliability or if they are a scam or not, just read the above paragraph again. They are a very legitimate company with very legitimate references.

Interface

The interface is very neat, crisp and clean. Users are offered a total of 5 pages for the mining pool, 4 pages in the cloud mining section and a tab labelled “Tool”, which delivers a single page offering a transaction accelerator.

Starting with the transaction accelerator, it is a service where, for a fee of 0.0001 BTC/KB, ViaBTC will prioritize your bitcoin transaction to include it into the next block. A nice service if you want to avoid the ever increasing wait times for transactions to get confirmed on the blcokchain.

The Mining dashboard starts you off on your home page, where you will be able to view the expected stats for your mining operation. The number of active workers and inactive workers, your average hash rate for the last day, last hour and last 10 minutes are all displayed nicely and prominent in the center section. There is an Account Info section which displays, well, your account info. It includes your total earnings, earnings for the last 24 hours, your account balance and total payouts.

Beneath the main section, there is a hash rate chart for monitoring your performance and at the bottom of the page are simple instructions for connecting to the pool, as well as a support email and link to support twitter feed.

The Worker tab takes you to a page that gives you an in depth breakdown of each individual worker’s statistics. This info includes averages over set periods of time, reject rate and time of last submit, among other things. There is an option to group workers together and create several of these groups if you wish.

There is then the Earnings tab, which offers you a chart to track how much money you have made and also allows you to choose to view earnings on PPS+ or PPLNS. There is also a detailed table that allows you to see the statistics once again.

The Payments tab is a log that shows the history of all payouts that ViaBTC has sent to you.

The final tab is the Statistics tab. This tab displays statistics for the entire pool, including a hash rate chart, luck percentages over set periods of time and the total number of coins mined. There is a table below this with the history of all blocks the pool has found.

The cloud mining interface is much the same as the regular dashboard, but with the obvious purchasing options. There is one cool feature. If you want to buy hash power from ViaBTC, you can do so through an authorized partner and receive what is called a Hashcode, which you then import to ViaBTC from within your cloud mining area and that will automatically apply the amount of the hash rate you bought to your ViaBTC account. Pretty Cool.

Payments & Fees

Payouts are done once per day in between 10:00 am and 6:00 pm (GMT +8) and there is a minimum balance of 0.001 BTC needed before you will receive a payout.

You can choose the PPS+ or PPLNS as your payout choices. PPS+ pays you a flat rate per share, while the PPLNS gives you a sliding scale based upon the power you supply and blocks found by the pool. The PPS+ is far more stable but does not offer the possibility for a high reward when blocks are found.

The amount you can expect to make is an estimated daily amount of 0.00064977 BTC per TH/s of power your rigs can supply.

The fees they charge are modest, 4% if you choose the PPS+ payout method or 2% if you choose the PPLNS payout method.

Cloud Mining

Shares cost .18 BTC^* each, which gives you 1 TH/s.

Fees

0.84 CNY per day per SHARE for electricity + 6% of the mining income for management and maintenance fees.

Return on Investment (ROI)

According to the ViaBTC website, you will make 0.00047948 BTC^* est. daily earnings per share.

This means that…

• For 0.18 BTC ($165.30 USD^*), you can purchase 1 share, ROI would be slightly over a year.
• For 0.54 BTC ($496.10 USD^*), you can purchase 3 shares, ROI would be 5 months.
• For 0.9 BTC ($826.90 USD^*), you can purchase 5 shares, ROI would be in 376½ days.

When compared to other cloud mining operations, they seem to be a bit better, mostly due to the reliability and security in knowing that they are not a scam mining website.

Conclusion

ViaBTC is an obvious industry leader in the Bitcoin mining world. With their prominent status, reliable references and backers, there is no reason not to give them try. They even list their contact information, with a telephone number right on the website.

What other mining company does that and is not reliable?

ViaBTC
Tel: (86) 0755-86953445
Address: 3305 Tower A,
Tianxia International Center, SHENZHEN
Email: admin@viabtc.com

*Figures current as of 2017 January 27