Bitcoin miners and all cryptocurrency miners play a very important role in our community. They set up miners, incur electricity expenses, and deal with mining companies to ensure that we all have the freedom to transact securely with digital currencies. As more miners plug in their equipment, our networks are protected from double spend attacks. As they receive rewards for their efforts, they fuel new ideas and products to make more opportunities for others to experience digital currencies.
It is very important for new miners to know what to look for when they decide to purchase new mining equipment. People have lost money choosing the wrong miner company. It is also important that new mining companies know what miners expect of them so they can satisfy their customers and remain competitive in this ever changing space.
I’ve talked with Stan Stavrev (who emailed me about a potential mining company scam) and after a few discussions we’ve decided to use the rest of this month (May 2014) to work with the mining community to craft a document called the Miner’s Manifesto.
This document will be open for all to edit and help shape something that is representative of the community’s thoughts and experiences.
The goal of the document will be twofold. On one hand, we want the experienced miners to share their experiences (good and bad) so people understand that mining is more complex than plucking money off a digital tree.
The second goal is to let mining companies know what miners expect of them. This document will help them know how they will be judged and remind them that miners aren’t to be taken advantage of. Selfish policies or deceptive practices will have negative consequences.
This document will be open for May of 2014, and in June we’ll proofread it and release it as a free PDF, post it on our website, and publish it in Bitcoin Magazine.
The link to the document is here: