Nicehash\/MinerGate killer<\/strong>. We are not going to speculate on whether this statement is right or incorrect, let’s simply observe what Honeyminer offers to miners and what’s special about this platform.<\/p>\n\n\n\n \n\n\n\nHoneyminer is an American business. The headquarters are located in Hoboken, New Jersey. The one-page website provides the basic info about the platform. On August Honeyminer currently had 50,000 users registered<\/strong>. The present variety of users is unidentified.<\/p>\n\n\n\n \n\n\n\nHow Does It Work?<\/h4>\n\n\n\n \n\n\n\n First off Honeyminer is a mining app<\/strong>. Presently, it’s readily available just for Windows, however iOS variation will be included future<\/strong>. Also, there is Linux-based Honeyminer Max however I’ll cover it at the end of the article.<\/p>\n\n\n\n <\/p>\n\n\n\n \n\n\n\n
Today the home mining is rather unprofitable because individuals can’t compete with incredible hashrates of industrial mining farms. However, some solutions still exist. Mining pools integrate the powers of private miners and successfully discover new blocks. The rewards get divided between the participants. Honeyminer runs with the CPU and GPU power that users grant offer mining. The procedure is very basic: you set up the app, set the portion of power you prepared to compromise for mining and press the start button. <\/p>\n\n\n\n \n\n\n\n
The app is working while you still can use your gadget as usual. The main processes occur far from the eyes of users. All we can see is benefits in BTC coming to the user balance.<\/p>\n\n\n\n \n\n\n\n
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So what occurs after we begin the procedure? Honeyminer utilizes the GPU\/CPU power to mine the most successful currencies (the app switches from coin to coin immediately within approximately 10 minutes period). It means that it mines numerous altcoins– allegedly always the ones that have much better market price but low difficulty– so the process is implied to be as profitable as it possible.<\/strong><\/p>\n\n\n\n \n\n\n\nThe mined altcoins are inexplicably get transformed to Bitcoin<\/strong> (most likely Honeyminer has some amount of Bitcoin so they can send out the “benefits” directly to users, gathering the altcoins mined by users rather). Considering the truth that Honeyminer is not an open-source platform and all the procedures are not transparent<\/strong> (I ‘d said that users know nothing about what’s actually going on when they mine<\/strong>) we can presume that the computing power of Honeyminer users can be utilized for any purposes besides mining (for example it can be rented to third parties), however let’s believe that Honeyminer is an honest company that helps individuals to mine altcoins and receive the Bitcoin rewards.<\/p>\n\n\n\n<\/p>\n\n\n\n \n\n\n\n <\/noscript><\/figure>\n\n\n\n <\/p>\n\n\n\n \n\n\n\n
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On the Honeyminer site, you can discover the following statement: “Our very first objective was to develop a ‘set it and forget it’ app<\/strong> for anyone to mine the most successful coins.” That can be among the reasons the work of this app lacks openness (details can make seem the presentation too complicated for those who do not have mining experience). <\/p>\n\n\n\n \n\n\n\nThe whole design of the app and the mining process attract those who do not want to find out much about mining and just want to tap on the start button and let the app do everything immediately. The business promises to broaden its functionality to make Honeyminer more appealing for all sorts of miners consisting of the knowledgeable ones, however let’s see which choices the platform provides today. Currently, users can’t even select the currency they wish to receive as a benefit and required to get Bitcoin.<\/strong> <\/p>\n\n\n\n \n\n\n\n <\/noscript><\/figure>\n\n\n\n<\/p>\n\n\n\n \n\n\n\n
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