ll the rewards are coming from already mined coins by other users that donated them to the Community Fund. This way BitcoinZ is the first pure cryptocurrency project (Proof of Work with no premined or ICO with fair rules and immutable supply) that grants extra rewards to the miners, the people who support its network.
But to keep it simple we are giving some examples in the picture below about how our sigmoid function works in real scenarios:
Which are the Prizes of the Competition?Every week 175,000 BTCZ coins are distributed as rewards!9,125,000 (more than 9 million) BTCZ per year. This is a superb sum (currently worth more than $3000) especially if we take into consideration that BitcoinZ is among the most undervalued cryptocurrencies with huge potential for future gains as its Community grows stronger and listings to more popular exchanges are achieved.Indicatively, if BitcoinZ hits in the future the marketcap of Shiba Inu (a questionable token scoring in the 15th position of coinmarketcap right now), it would have about 3,200X higher value.Even if BitcoinZ just hits the 100th place of Coinmarkecap , it would have about 200X higher value.This in simple words means that every $1 which somebody acquires in BTCZ today could worth between $200 and $3200 in the case that BitcoinZ achieves to climb in just the 100th to 15th positions of crypto capitalization. Though it deserves to take on of the very top10 places for many different reasons.
How can I take part and claim the rewards?The contest is extremely easy.You have to just:1) Mine the coin with your PC (we have provided a very easy video tutorial for BitcoinZ mining)2) Make a post in the social media of your choice, tagging the relevant BitcoinZ Community’s profile (which you must follow) & 3 people3) Include in the post your mining pool’s url, your bitcoinz address (where you get your mining rewards) and the contest’s link using as media anything related with BitcoinZ like a mini video, a diagram, a meme, an informative artwork etc That’s it! By spending these 20 seconds every month, you can be among the super lucky that will be getting additional BTCZ coins as rewards! 21000 BTCZ are distributed to 4 winners everyday from Monday to Saturday (126,000 in 6 days)49000 BTCZ are distributed to 8 winners every Sunday.The aforementioned scheme is repeated every week, with 175,000 BTCZ being distributed weekly (6 days x 21,000 BTCZ and 1 day x 49,000 BTCZ).
BitcoinZ Mining Contest: Invitation Card
More details for the rules & the prize distributionFrom Monday to Saturday, the 4 prizes coming daily from the 21,000 BTCZ rewards are distributed like this :Twitter-like: 1 big prize for the miner’s post that is chosen randomly from the top5 in likes.Instagram or Facebook like: 1 big prize for the miner’s post that is chosen randomly from the top5 in likes.Twitter-random: 1 smaller prize to a random eligible contestant on twitterInstagram or Facebook random: 1 smaller to a random eligible contestant on Facebook and InstagramLike we mentioned above, each “like prize” will be given randomly to one eligible contestant whose post is between the 5 with the highest like amount and that hasn’t received that prize in that week.Prizes will be divided to winners proportionally depending on how much coins they mined in last 24 hours.In order to win, a post must be valid (with the format of the example), not older than 28 days and the winner must have mined in the last 24 hours at least 500 btcz in order to claim any “social media post’s like” prize and at least 1000 btcz in order to claim any random prize. Every Sunday the 8 weekly prizes coming from the 49,000 BTCZ rewards are distributed like this :Chosen from twitter: 3 prizes in descending order based based on the likes number of the eligible contestant’s posts & 1 prize to a random eligible contestant:Twitter 1st placeTwitter 2nd placeTwitter 3rd placeTwitter randomSimilarly from Facebook and Instagram: 3 prizes in descending order based on the likes number of the contestant’s posts and 1 prize to a random eligible contestant:FB/Insta 1st placeFB/Insta 2nd placeFB/Insta 3rd placeFB/Insta randomPrizes will be divided to winners proportionally to how much they mined in last 7 days.In order to win, again a post must be valid (with the format of the given example) not older than 28 days and the winner must have mined in last 7 days at least 3500 btcz in order to claim any *social media post’s likes* prize and 7000 btcz in order to claim any *random* prize.
FREQUENTLY ASKED QUESTIONS FOR THE CONTESTWhere can I see the results and the winners of the contest?You can see the winners everyday by following the contest related twitter account . A post with the winners, their addresses and the rewards transactions are published every day.Alternatively you can always see weekly results in the News section of the BitcoinZ site and in the social media accounts of the BitcoinZ Community in Twitter, Facebook, Instagram, LinkedIn and FTX.Which is the required format of my social media posts in order to be eligible for the contest?It should be like this :(tag BitcoinZ Community’s profile in the platform @BTCZOfficial for twitter, @bitcoinzofficial for Instagram and @BTCZCommunity for Facebook)#BTCZmining #BitcoinZ(your mining pool url)(your BTCZ address where you get mining rewards)@friend1 @friend2 @friend3https://getbtcz.com/mining-contest(use as media the any BTCZ related media / we used the invitation card as example)
Can I see examples for the acceptable format in all social media platforms ? How a miner’s post should be in Twitter, Facebook and Instagram exactly ?For example, a miner who uses the Crypto.2mars.biz pool with BTCZ address t1XZgpWy6SZT4eSnJMTVZ1p64Le64i6gKtW (where he receives his mining rewards) , tags 3 people and the relevant BitcoinZ Community’s profile and uses the invitation card as media in each social media platform should be like in the examples below :
Which social media platforms can I alternatively use ? The BitcoinZ Community’s profiles have different names in each ones?You can use Twitter, Facebook or Instagram for your posts. As it is aforementioned in the format example, the BitcoinZ Community’s profiles have slightly different names in each platform.Be sure that you tag the right one for each platform like the examples above do.@BTCZOfficial for Twitter@bitcoinzofficial for Instagram@BTCZCommunity for Facebook (it gives the “BitcoinZ” page as a result, it is the same thing with writing “BitcoinZ” and choosing the page).
Do I have better chances if I share my post about my mining activity in all the suggested social media platforms?Yes you have!You can earn the same prize type only once per week but by posting in both Twitter and Facebook for example, you get access to many different types of prizes coming from both the Twitter and Facebook/Instagram groups of rewards.
What kind of media can I use for my post ?Everything you wish as long as it is related with the contest or BitcoinZ.It can be a meme, a funny gif, a mini video, a youtube video, an artwork, an informative table or graph, literally anything!You can find even many ready-to-use files about BitcoinZ in the BTCZ artwork library or in the BTCZ Discord Channel.Make nice choices because this way you will most probably get more likes and of course even more potential prizes!
Nice, but I don’t know how to mine! How to do it? Is this safe?You can find here a very easy video guide explaining how to mine BitcoinZ with your PC in less than 5 minutes.Mining BitcoinZ is both easy and safe. BitcoinZ has a Community that is more than 4.5 years old. All its associated wallet & mining applications have been repeatedly tested and used by thousands of users.At last but not least, you can get 24 hours help in the BitcoinZ Community’s Discord Server, by real and helpful people.
I should mine in specific mining pools in order to be eligible for the contest?Yes you should mine one of the pools of the contest because the operators of these have agreed to support this. We will possibly have even more soon. For now you can choose a mining pool among these: PCminingRig: http://btcz.pcmining.xyz2mars: https://btcz.2mars.biz/Darkfiber: https://btcz.darkfibermines.com/
Is there any way to check my profitability before starting to mine BitcoinZ?You can check your profitability in https://minerstat.com/coin/BTCZ/profitabilityJust enter your gpu model and the other needed elements and see the results. With the contest though you will sooner or later have even more coins and never forget that BitcoinZ is among the very few pure cryptocurrencies around with a huge future potential. (wanna see why? click here).
Why there is a limit and somebody cannot win again the same prize in the same week?This way the distribution of the rewards is decentralized encouraging the whole community to participate for an even easier win.
So if I win a prize I have no chance to win another one in the same week?Wrong, if you win a prize you cannot win another prize of the same type in the same week!You can still win other types of prizes though. This concept is the most fair and at the same time the best for the contest because:a) we give the opportunity to more people to win a prize since only new winners can get it every day. For example the Daily Random Prize from Twitter cannot be taken by the same winner during the week (so we have 6 different people and never someone getting it twice in the same week)b) despite the above, there are other types of daily prizes that the user of the aforementioned example can claim ( the daily Facebook/Instagram random, the top likes in Twitter and the top likes in Facebook/Instagram prizes) and of course there are the weekly prizes every Sunday as well. So even if a miner wins one or even two different prizes during the week he has still a very good reason to keep mining and contributing to the BitcoinZ network because he can still claim additional different types of prizes!
How many different types of prizes can a miner claim every week?We have 8 different types of prizes.They are grouped in two different groups/families depending on the social media platform that is checked in order to grant the associated reward:1)The Twitter group of prizes2)The Facebook/Instagram group of prizesEach group has two daily prizes (Monday to Saturday) : One with bigger reward that is given to the eligible contestant /miner that his post has received the most likes (chosen among the top 5 randomly). It is the daily “Top likes” prize.Another one with a smaller reward that is given to a randomly chosen post of an eligible contestant.Additionally, each group has two weekly prizes every Sunday:A weekly “Top likes” prize that is given in ranks and different rewards to three lucky people chosen from the top performing posts again.A weekly prize for a randomly chosen post of an eligible contestant.So a contestant that shares his post in both Twitter and Facebook for example, can potentially win up to 8 different types of prizes every week:Twitter daily Top Likes prize, Twitter daily random prize, FB/Insta daily Top likes prize, FB/Insta daily random prize and of course Twitter weekly top likes prize, Twitter weekly random prize, FB/Insta weekly top likes prize, FB/Insta weekly random prize.
Why there are minimum requirements for the mined coins of a miner in order to claim prizes ?It would be unfair for someone who support the network with a strong hashrate to receive a small fraction of the rewards which would be for example an addition of just +1% to his weekly mined coins while a small miner who has mined only 100 coins, is gaining 10,000 coins reward on the same week.This is why there are minimum requirements for the number of coins that a contestant has mined during the previous day in order to claim a daily prize, or during the whole week in order to claim one of the bigger weekly prizes.Otherwise abusers would mine a few coins just for some minutes claiming rewards.
I have seen the chart examples for contestants with same hashrate. How the distribution is made for different hashrate winners though ?Like it was aforementioned, the rewards have to be meaningful for every contestant depending on his/her mining power.This is why the rewards are proportional to the hashrate that they contributed to the BitcoinZ network (translated to mined coins during the previous day or week when we check for daily or weekly prizes respectively).The contest uses a sigmoid function in order to distribute the rewards to contestants with different hashrates. In simple words, this type makes the rewards always good for any scenario, either for a big miner or a smaller one because it increases the reward up to a certain height keeping the balance in every case but at the same time giving higher amount to stronger miners only if they are not too far from average.
f(x)=weight, x=mined, c1=2/average c2=averageThe exact parameters in our case for the mathematics lovers are :weight=1/(1+e^-(2*(mined-average)/average))
But to keep it simple we are giving some examples in the picture below about how our sigmoid function works in real scenarios: