IOTA Faucet - Get IOTA through mining Monero
Live on: https://mineiota.com
Your web browser use javascript monero miner from https://coinhive.com.
Coinhive provide how much XMR for 1 000 000 hashes they pay. Than we take actual price BTC/XMR and BTC/IOTA is given actual ratio how much iota per 1 calculated hash of monero.
Your balance of monero hashes is save in coinhive database. So you cannot lose your reward. You can always request again. But if you make duplicity requests it is deleted from queue. Only one can be in queue.
Price is fixed in USD, so your reward can changing value of iota in time, until you make withdrawal request and get first in line.
- Minimal payout is 1 iota. Please be sure you know price on exchanges is in MIOTA. It is 1 000 000 iota. So you can get reward in the smallest part of iota.
- In log you can see how you receiving rewards in iota valuated to usd price.
- Anytime you can click on update to get total iota in acutal prices ratio.
- If you ready get your reward, click on Withdraw. Now you will be added to queue. Now you can wait on your reward or continue to mining. When you come in line, you will receive all actual reward in this time.
- If for some reason you see your transaction is still panding after one day. Is possible, here is some error in iota tangle and transaction was skipped. In this case your reward is still on mineiota.com just take your address, do login again and make new withdraw request.
- Fee is changing from 10% to 30% depend on volatility market. Because there is waiting time around 5 days to get reward from coinhive and price is changing every minute. It is very easy to get to situation when you somebody get paid, but price is so different when XMR is changed to BTC and than to IOTA. This make losing funds.
- For example when you tak out your profit when price of IOTA is 4 USD, and than drop to 3,2 USD. And after that is made exchange from XMR to BTC to IOTA, this is 25% drop. So if fee is only 10% rest of 15% from all funds is gone. For long term functionality is necessary cover this moves.
- In short when price stop moving so much every day, fees can be lower.
- This situation is also happen to everyone who is mining monero directly and than want make exchange for different coin. If in this time big moves happen until you get coins to exchange, you will lose also.
- Math ((((xmrBtc/(1/payoutPer1MHashes))/1000000)/(miotaBtc/1000000))/(100/70))*256) part of (100/70) representing fee. So 100% / 70% you get value for 30% fee. If is formula (100/90) you get value for 10% fee.
- Default 10% fee is used for maintenance services and developing. Also for helping community by running nodes and donations to another projects.
- If fee is bigger than 10%, all incomes from this part of funds is used for payouts all miners. Usage this higher fee is only cover volatility market.
If you have some issues, or ideas. Please be welcome uses tab Issues here on github. I try answer soon as posible