I wanted to figure out what adding Nano/BTC payouts did for 2miners, focusing on two aspects:
- Did adding low fee/no fee payouts increase their growth rate relative to their own history?
- Did adding low fee/no fee payouts increase their growth rate relative to the other mining pools?
| ~ | July 24th | October 11th | Growth |
|---|---|---|---|
| Ethermine | 267,340 | 319,640 | 19.6% |
| Poolin | 47,432 | 239,218 | 404.3% |
| Flexpool | 15,719 | 29,285 | 86.3% |
| 2miners | 39,267 | 43,818 | 11.6% |
| Nanopool | 44,137 | 46,535 | 5.4% |
| Miningpoolhub | 111,538 | 179427 | 60.9% |
| Binance | 92,847 | 154,349 | 66.3% |
| Ezil | 14,458 | 15,871 | 9.8% |
| Spiderpool | 85,696 | 174574 | 103.7% |
| --- | --- | --- | --- |
| Total | 830,563 | 928,364 | 58% |
So what we see here is that first of all, Poolin is growing extremely fast. According to some quick Googling, Poolin had a lot of miners in China that were in the process of migrating to other countries after the mining ban, which helps explain this. Aside from Poolin, we see that quite some pools grow rather rapidly, and that the weighted average growth rate is 58%. 2miners is well below this at 11.6% growth.
| ~ | October 11th | Now | Growth |
|---|---|---|---|
| Ethermine | 319,640 | 397,942 | 24.5% |
| Poolin | 239,218 | 653,300 | 173.1% |
| Flexpool | 29,285 | 45,993 | 57.1% |
| 2miners | 43,818 | 78,640 | 79.5% |
| Nanopool | 46,535 | 46,510 | -0.1% |
| Miningpoolhub | 179,427 | 173,196 | -3.5% |
| Binance | 154,389 | 139,746 | -9.5% |
| Ezil | 15,871 | 17,533 | 10.5% |
| Spiderpool | 174,574 | 59,804 | -65.7% |
| --- | --- | --- | --- |
| Total | 1,311,997 | 1,777,587 | 35.5% |
Since October 11th (which is the day that 2miners introduced Nano/BTC payouts) the picture is completely different. While Poolin is still the fastest grower, 2miners has moved from being 7th fastest growing to being 2nd fastest growing. This at the same time that many other pools were seeing decreased growth or even shrunk their total miner count.
Obviously just a quick analysis (well, not quick given Reddit's painful table formatting), but it seems like adding Nano/BTC payouts has been a rather brilliant move for 2miners, both in terms of their growth rate catapulting relative to their previous growth rate, but also in terms of their growth rate compared to other mining pools.
TL;DR/conclusion
An unsurprising conclusion, but still nice to see, is that miners quite like the utility of low fee/no fee payouts, and that they're moving to 2miners to take advantage of this offer. 2miners went from one of the slowest growing pools to one of the fastest growing pools, going from having ~0.2x the average growth rate to having ~2x the average growth rate in miners.
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