BTC Guild cancels shutdown plans, puts pool up for sale

BTC Guild, a popular bitcoin mining pool, says it may stay open after all. The pool’s operator, Michael Marsee, had originally

BTC Guild, a popular bitcoin mining pool, says it may stay open after all. The pool’s operator, Michael Marsee, had originally decided to shut the pool down. He cited the risks of a successful attack against it, as well as US regulatory action that would make it impossible for the pool to operate:

“State regulators are starting to make noise about Bitcoin. New York is the first to publicly put anything forward, but there are 49 other states which can put their own spin on things. Due to the ability for states to establish a nexus for businesses dealing with their state’s residents, it is a scary landscape to continue operating in.”

Previously, the operator voiced its concern over the BitLicense proposal, saying the the costs of compliance would be prohibitively high.

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He goes on to state that he has no plans of leaving the US, and that “given the recent history of the US when it comes to online businesses”, he still wouldn’t feel comfortable operating the business even after registering it in another country.

According to blockchain.info, BTC Guild currently commands about 4% of the network’s hashpower.

The shutdown would have been completed in 90 days.

But as several well-wishers commended him for his work, others expressed interest in keeping the pool up and running, offering to purchase it. He now says that the site “will continue to operate normally”.

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