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News Update: The Prequel

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Welcome to the first news post of Coinhole.us, or entry zero. Consider it making up for what hasn’t been said.

Going to usually try to keep these updates condensed, but this being the first one we’re going to splurge on it a bit.

 

CoinHole.us was launched on October 9th, 2017, but had been in the planning and works for well over a year.

We’re now nearing our 3rd week of operation, and our platform has been used by over 3,000(3K) devices among 9,00+ users.

Thank you to all of our users.

 

Miners

We initially launched with 5 miners: Bitcoin, Litecoin Dogecoin, Dashcoin, and Ethereum.

Within week 2 we added 2 more miners: Peercoin and Zcash.

We plan to release another Miner at the beginning of November.

 

Payouts

Currently 57 submitted mining sessions have been approved for payout on the 1st of November.

We have been getting a lot of feedback regarding the required hashrate for payout.

Our miners are centralized and the hash requirement will always be the same for each miner, however this required hashrate can be decreased.

As stated in multiple areas of the site, the more devices mining on the platform will allow us to decrease this number.  We estimate once we reach 5000 devices mining regularly we will be able to cut the current 550000000(550M) required hash to 300000000(300M) while increasing the payout value making each 100000000(100M) Hashes equal $1.

When we do make these changes any active mining sessions at the time will be credited based on the new payout agenda.

 

Feature Updates

Coinhole is constantly evolving.

 

Many users noticed that we had added an accounts portal.

Currently user accounts are only required  when investing, renting resources, or donating cash.

We will be releasing a link based referral program soon and user accounts will be required to claim referral rewards.

We may add other features in the future regarding user accounts. Users will always and forever be able to mine and receive payout for their mining session anonymously.

 

An Android App is in the works. We’re aiming to release the Android App at the beginning of November. We’re currently testing and making modifications to make it’s power usage as minimal as possible. There will not be any future plans for an IOS app, nor will we provide support for issues regarding apple devices on our regular browser based Miners.

 

 

Contests

Mining is boring and seems to take forever if you sit there watching the hashes get solved.

In the midst of making CoinHole.us more engaging, we decided that we will start holding monthly contests.

The date of the first contest or how entry will work will not be disclosed yet.

 

Renters, Investors, & Donors

Huge thank you to our financial contributors.

This funding has went towards bulk servers and marketing, further powering the platform.

There will be slight adjustments to our investment packages in the coming week, existing renters and investors will not be affected and their original projections will be honored.

 

A week ago we switched from paypal to stripe as our card processor, eliminating the pay with paypal option. A lot of users requested we bring back paypal, so now there will be two options of payment when renting, investing, or donating cash. Option 1 will be pay via card which will be processed by stripe, and Option 2 will be to pay with Paypal account.

 

 

Closing Remarks

Really a big thanks to everyone who has contributed to the platform in anyway so far.

As long as there is a public interest we will keep Coinhole.us alive.

If you ever need help that isn’t covered on the FAQ or Getting Started pages, please don’t hesitated to contact us.

 

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