Coinhive closes

As you may know, I have tried numerous ways to monetize my blog and to make money via cryptocurrency. Well, it looks like another of those ways is shutting down. Coinhive was a service that offered proof of work and would pay the site owner in exchange. To summarize shortly, you could install a proof of work check on your website. As site visitors clicked the proof of work, Coinhive would mine cryptocurrency on the computers of visitors and you, the site owner would get the benefit. This had the dual benefit or removing bots and generating some income for you.  It really was an innovative idea and it is sad to see it go.

Here is some of the official blog post.

Blog » Discontinuation of Coinhive

Some of you might have anticipated this, some of you will be surprised. The decision has been made. We will discontinue our service on March 8, 2019. It has been a blast working on this project over the past 18 months, but to be completely honest, it isn’t economically viable anymore.

The drop in hash rate (over 50%) after the last Monero hard fork hit us hard. So did the “crash“ of the cryptocurrency market with the value of XMR depreciating over 85% within a year. This and the announced hard fork and algorithm update of the Monero network on March 9 has lead us to the conclusion that we need to discontinue Coinhive.

Thus, mining will not be operable anymore after March 8, 2019. Your dashboards will still be accessible until April 30, 2019 so you will be able to initiate your payouts if your balance is above the minimum payout threshold.

Thank you all for the great time we had together.

posted on February 26, 2019, the Coinhive Team

As always, I’m running quite a bit behind. I sometimes worry about some of the larger trends in cryptocurrency. That good ideas come and fail and that the golden age of crypto is behind us. I don’t think that is really true, but sometimes I worry about it. I remember some earlier times in Crypto, like when linkslap was around,  which would pay you in doge to evaluate the descriptions of gifs. I hope we see some new methods to generate crypto in the future. I need new material for a new edition of my book!

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