Although the overall market has remained relatively stable, the crypto-news.care/” target=”_blank” rel=”noopener”>bitcoin Minetrix Pre-sales have been active, bringing the amount raised to more than $10.3 million. Some supporters now believe that bitcoin Minetrix (BTCMTX) could overtake major coins like bitcoin (btc) and ethereum (eth) in 2024.
The project incorporates a mine participation utility model, adding value to its ecosystem.
BTCMTX versus btc and eth
Since bitcoin and ethereum are considered some of the safer (less volatile) cryptocurrencies, market participants often expect more considerable returns when purchasing other projects.
New coins typically have greater upside potential due to their lower market capitalization.
Meanwhile, bitcoin and ethereum prices are less volatile each market cycle as liquidity increases due to expanding market capitalizations.
bitcoin Minetrix will be listed on various exchanges at a later stage; an opportunity that some investors plan to take advantage of.
The bitcoin Minetrix mining participation model
bitcoin Minetrix takes a novel approach to one of the most pressing problems in cryptocurrencies: bitcoin mining.
The project has created a cloud mining solution on ethereum for users to mine bitcoin.
No specialized hardware or technical experience required. This addresses the issues of high initial capital and skill requirements to start mining bitcoin.
bitcoin Minetrix makes it easy for anyone to get started.
To start, users stake BTCMTX in exchange for bitcoin mining credits. They can then burn these credits for cloud mining power, mining btc.
Previous cloud mining solutions are considered shady due to a number of scams that have been carried out.
The bitcoin Minetrix whitepaper highlights this issue, explaining that cloud mining protocols would attract investors with decent returns and then introduce “unwarranted complexities” once users deposit more cash.
However, bitcoin Minetrix believes in transparency and fairness, ensuring that all transactions are recorded on-chain.
Additionally, no cash changes hands with bitcoin Minetrix thanks to its mine staking model.
Will bitcoin Halving Affect BTCMTX?
The bitcoin halving has been correlated with the start of every cryptocurrency bull market.
The event, scheduled for early April 2024, will halve miner rewards, creating a discrepancy between supply and demand in the market.
This development could push prices higher, possibly lifting altcoins like BTCMTX thanks in part to the project's correlation with bitcoin.
Since bitcoin Minetrix users earn real btc rewards, the value of bitcoin Minetrix is tied to the price of bitcoin.
bitcoin Minetrix Tokenomics and Presales
bitcoin Minetrix addresses the mining problem but captures value using BTCMTX.
Since BTCMTX is key to rewards and can be staked, it will alleviate selling pressure on the token.
Additionally, staking rewards are primarily paid in mining credits, not BTCMTX. This differs from most other staking coins, which pay rewards in their native token, creating sustained selling pressure.
42.5% of bitcoin Minetrix tokens are allocated to bitcoin mining, 35% to marketing, 12.5% to staking, and 10% to the community.
At the current pre-sale stage, BTCMTX is available for $0.0133.
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