ViaBTC Launches Cloud Mining Service, Bitcoin Core Fans Call It a Scam

ViaBTC’s cloud mining service could potentially elevate Bitcoin Unlimited’s position in the cryptocurrency industry.

ViaBTC, the Bitcoin mining pool that supports Bitcoin Unlimited, has recently come under fire for launching cloud mining services.

ViaBTC recently announced that it will allow more people to join its Bitcoin mining pool with a small investment in mining equipment. On the other hand, ardent fans who support Bitcoin Core and oppose the Bitcoin Unlimited protocol have begun to oppose the service.

ViaBTC claims that it has set up a 2.4PH/s data center running on Bitmain's S9 Antminer equipment. ViaBTC's cloud mining infrastructure can be purchased by individuals and companies, and the total computing power generated will be counted into the Bitcoin Unlimited mining community, and those who conduct cloud mining can also receive a portion of the rewards as a return on investment. However, Bitcoin Core followers did not easily participate. Some even called ViaBTC's cloud mining service a scam.

Regardless of whether it is a scam or not, cloud mining is an attractive way to encourage more people to participate in the cryptocurrency mining community while removing the management costs of running a database. Interested miners can purchase computing power from cloud service infrastructure providers for a small amount of money, which saves them the trouble of purchasing and maintaining equipment. Cloud mining is affordable for many users, and operators can re-gain a huge return on their basic investment by selling mining agreements. In theory, as the difficulty of mining increases, cloud mining has become one of the best ways for the mining community.

In order to ensure that the interests of the mining pool are protected, ViaBTC announced that saving miners and changing the mining pool is impossible for protocol holders. Once ViaBTC's cloud mining sales soar, it is expected that support for Bitcoin Unlimited will also increase, which will seriously threaten Bitcoin Core.