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Coinhive Cryptojacking Service Will Shut Down Next Week (zdnet.com)
Coinhive, an in-browser Monero cryptocurrency miner famous for being abused by malware gangs, announced this week its intention to shut down all operations next month, on March 8, 2019. From a report: The service cited multiple reasons for its decision in a blog post published yesterday. "The drop in hash rate (over 50%) after the last Monero hard fork hit us hard," the company said. "So did the 'crash' of the crypto currency market with the value of XMR depreciating over 85% within a year." "This and the announced hard fork and algorithm update of the Monero network on March 9 has lead us to the conclusion that we need to discontinue Coinhive," the company said. Coinhive said all in-browser Monero mining will stop working after March 8, and registered users will have until April 30 to withdraw funds from their accounts. The service, which launched in mid-September 2017, promoted itself as an alternative to classic banner ads. In its heyday, the site was making around $250,000 per month, according to some estimates.
To be currency, the value has to be stable.
Maybe some day some cryptocurrency will be stable, and will be usable as a currency. But right now? Nope.
The “money” generated by the site is minimal compared to the bandwidth and electric bills caused by the mining, and most mining was blocked by adblockers and firewalls anyway.
will be glad when the entire cryptocurrency thing is a pile of smoldering embers. It's a promise that cannot be delivered upon with any real traction because there are so many competing standards. And the fact that bad actors are drawn to it like moths to a flame. I've been running No Coin in my browsers as well as blocking it on my Pi-hole since it was a thing.