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Author: Admin | 2025-04-28
New stake-to-earn cryptocurrency Bitcoin Minetrix (BTCMTX) launched its ICO this week and has so far raised $200,000 in seed round funding.Popular crypto YouTubers and Telegram signals groups have highlighted the token as an alternative to Bitcoin staking, which is not possible due to BTC’s proof of work consensus model.In this article, we will take a look at whether this new BTC alternative Bitcoin Minetrix is legit or a scam, based on the information available so far and its Coinsult audit.What Is Bitcoin Minetrix?Bitcoin Minetrix is a decentralized cloud mining platform that allows everyday investors to rent computational power and earn BTC mining rewards, without the burden of operating a mining farm themselves.In the early days, creating a Bitcoin block and earning rewards was a relatively simple process, accessible to every enthusiast with a computer. Laszlo Hanyecz - the man who paid 10,000 BTC for two large pizzas - mined all his tokens himself after realising that a simple GPU is much more suitable for the process than a CPU.However, with the number of Bitcoin transactions surging exponentially, it is nearly impossible for an ordinary person to mine the rewards. A study that looked at Bitcoin's difficulty in 2015 - which is a mere fraction of today’s network difficulty - revealed that it would take a normal CPU “several hundred thousand years” to mine a new block.As a result, the mining industry today is dominated by big-money corporations that have ASIC-based mining farms, along with separate energy plants to fuel the operation - a setup that is impossible for ordinary individuals to replicate.To combat this, the concept of cloud mining started to gain traction, allowing investors to own a part of the computational power, without the requirement of technical expertise or the need to deal with the unbearable heat and noise generated in the process.However, legacy cloud mining platforms are centralised in nature and very quickly, became the hunting ground for fraudsters - platforms like Fancy Crypto, Happy Miner and IDMining set up legitimate-looking websites that turned out to be money-grabbing scams.There is a tremendous pent-up demand for a legitimate cloud mining platform that lines up with Satoshi Nakamoto’s vision of decentralization. Therefore, Bitcoin Minetrix’s tokenized cloud mining approach has the potential to dominate the industry.Investors simply need to purchase $BTCMTX tokens - available now during the presale - and stake them in an Ethereum-powered smart contract. In return, they will
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