Cryptocurrency Mining On Website

cool5now

cool5now

jsecoin.com
Sep 16, 2010
38
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jsecoin.com
Hi everyone,

I am one of the developers at JSEcoin and we are doing a ask me anything video session next week and would like to get some questions.

If anyone has anything they would like to ask about web based cryptocurrency mining or our affiliate program we will answer here on the forum and also in the video.

Thank you.
 


Hi WithNow, I hope so. Browser based mining has the potential to disrupt the cryptocurrency markets. Especially now people are starting to talk about the excessive electrical consumption of traditional cryptocurrencies.
 
Hi Kumar, for trading Bittrex is great, also BitHTC has some of the altcoins not listed on Bittrex. You need to purchase Bitcoin from someone like Coinbase/Localbitcoins and then transfer it to to exchange. Be really careful with account security, don't use same passwords etc.
 
Web based crypto mining done by visitors for the webmaster is something that AVs, and eventually, the browsers, are going to aggressively block. Your business model seems incredibly naive. It looks like you've already got a few AVs flagging you, and your own support forum seems to indicate you don't have any plan to deal with and appeal the flags other than the false positive emails of the AVs. Any mass adoption across large websites will lead to more flags. The webmasters will lose traffic and get their sites on blacklists.


I appreciate you've found a creative idea, and at a glance seems like it has potential and you've put a lot of work into it. Normally I'd keep something like this to myself and I'm not trying to be mean, but you're looking for people to invest via an ICO, and it's hard to see this ending any way other than very bady.


At the very least you'll want to heavily lawyer up, proactively work on whitelisting, add some additional disclosures, but given that there's a long established precedent of crypto mining programs being marked as potentially unwanted, they'll likely end up flagging you regardless.
 
Hi SethH,

Yes some of the AV/Adblocker companies are throwing us in the same basket as the hidden background cryptocurrency miners. We have never and will never partake in hidden background mining.

Things like nocoin plugin for ad block plus I think are right to block us. If someone has specifically downloaded the plugin then it should work as a opt-out across all networks. Anti-virus companies labeling us as malware is a different issue and anyone who understands the technology and takes the time to review the platform will realize it isn't malware.

Our system is quite different to most peoples preconceptions about cryptocurrency mining. It is not resource intensive and actually uses less resources than a video advertisement. Just like with digital advertising networks an opt-in system is not possible to implement and an opt-out setup is the only option available to us. With regards to disclosures we are fully transparent and notify the visitor to give them a chance to opt out via "EU cookie style" notification before mining commences.

We are going to get flagged by anti-virus companies because they don't have time to really review the project and we get bundled into the same group as other less reputable organizations who are trying to hide the mining from the end user. Our intention is to operate as ethically as possible and complain to any antivirus and adblockers that block the URL's frequently and loudly. A lot of these companies have pay to play systems in place which is basically a ransom on ad networks. This is something else we can consider in due course if it becomes a major issue.

Just to clarify we have had zero reports of webmasters losing traffic or getting their sites blacklisted and we are currently running on some high volume sites with around 10m impressions / day across the network.

I appreciate this is new technology and isn't going to meet with everyone's approval. Thanks for taking the time to offer your opinions and advice.
 
I think that as long as publishers get users consent there shouldn't be any problem, if publishers only use 10%-20% of the users cpu power while they are on the site then it's fine.
 
cool5now said:
Hi Kumar, for trading Bittrex is great, also BitHTC has some of the altcoins not listed on Bittrex. You need to purchase Bitcoin from someone like Coinbase/Localbitcoins and then transfer it to to exchange. Be really careful with account security, don't use same passwords etc.
Click to expand...

Thank you so much for help. I am still learning about alt coins. I think i will be buying some ETH, NEO and STRAITS
 
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