Why doesn’t Antpool pay (Does Antpool charge fees)?

Why doesn’t Antpool pay? Why doesn’t Antpool make payments? Why doesn’t Antpool pay? It’s because the cost of mining Bitcoin is very high.

According to media reports, due to the impact of the domestic epidemic, some provinces in China have already stopped providing services to cryptocurrency mines and trading platforms. In addition, some regions have gradually begun to prohibit using Bitcoin for payment transactions. Many countries are also increasing their efforts to promote the application and development of blockchain technology.

In such a situation, how can we ensure our safety? Let’s find out together. What is Antpool? Do miners need to pay fees to Antpool? Miners must bear the corresponding operating costs, electricity fees, and other management expenses themselves, which is different from traditional financial methods. For example, banks charge commissions or fees to subsidize user income (similar to Alipay), but Antpool does not accept these services.

So, can regular investors choose to purchase wallets with higher mining rewards instead of directly using their smartphones to make payments? The answer is: no. And to reduce risks, mining companies also need to host their equipment on their own servers to ensure stable and reliable operation of the system. Therefore, Antpool does not require customers to pay for electricity fees and maintenance time for their machines. If there are any issues, they can only consult customer service and have their problems resolved by the staff. Of course, this process may not be as complicated as many traditional financial institutions.

At the beginning of its establishment, Antpool had a company name called “Ant Chain” – Antminer Technology Co., Ltd. Its main business is to provide hardware storage solutions, and its core products include the research and development, production, sales, operation, and risk control of cloud computing power. Antminer uses Samsung Galaxy S10 series chips, which include 5G communication, AI intelligent algorithms, integrated circuits, and other software development tools. It also has high-performance computing capabilities and a strong distributed architecture design capability.

In addition to the above features, Antpool is also striving to promote more industry applications. For example, in the recent “Ant Chain” white paper introduction: “Currently, the ant currency types on the market have achieved comprehensive deflation, and the total supply of ant miners has reached about 100 million, accounting for about 1% of the total.”

Antpool has launched a new mechanism for POS models: PoS digital assets under the POS+POW consensus mechanism, and combined with the new POS mechanism, it provides a new incentive mechanism. This mechanism can effectively increase the participation threshold of network participants, improve the overall security of the entire ecosystem, and meet the diverse needs of users. According to publicly available information, Antpool has proposed three measures: 1. Optimize and upgrade mining machines to increase the overall difficulty of the network by 10%; 2. Support multi-currency pledge lending; 3. Introduce liquidity mining rewards.

Does Antpool charge fees?

Antpool is a well-known domestic Bitcoin mining service provider that provides customers with digital currency investment and buying/selling platform for computing power.

According to the official website announcement, currently, when the block height of the coin stamp reaches 630,000 (expected on July 31, 2020), Antpool has opened mining machine trading pairs for multiple mainstream cryptocurrencies such as BTC and ETH. Users can trade and withdraw earnings on Antpool. At the same time, Antpool supports “current financial management” and “fixed-term financial management”. What fees does Antpool charge? How much is it? Does Antpool charge fees? Antpool’s official answer is:

1. Antpool charges fees based on a fixed ratio, unlike other third-party payment methods that charge commissions, but the fees will increase with network bandwidth to ensure the cost of using mining machines and the payback period. 2. For every unit of electricity consumed, one machine needs to be purchased to burn a certain amount of electricity for hosting the mining machine. This fee is calculated based on the user’s device net income divided by the energy consumption and estimated through market prices. 3. Mining pool owners take all the mined currencies as rewards and Antpool is responsible for paying out to all participating users. 4. Antpool only accepts certain small payment forms, in which 50% is directly paid to the members and the remaining 80% is held by Antpool. 5. Alipay can be used for refunds, transfers, or payments.

Antpool’s business operation model mainly has three points: 1. Mining farm operators must have a corresponding scale of servers and maintenance personnel; 2. Maintain their own computers and systems.