Terms of Service
Notification of Changes
What is oxBitcoin?
You acknowledge that 0xBitcoin is not “Bitcoin” and understand that 0xBitcoin is a proof of work, mineable ERC-20 token on the Ethereum network. 0xBitcoin is a decentralized token on top of a decentralized platform.
What is the oxBitcoin mining process?
The mining process for 0xBitcoin works like the mining process for Bitcoin except instead of the SHA3 algorithm, the soliditySha3 algorithm is used. The oxBitcoin Token Miner open source software to be used for participation in the Pool can be downloaded from Github here:
Also, instead of submitting the solutions to a dedicated network, the solutions are submitted by Mike.rs into the 0xBitcoin smart contract within Ethereum.
Mike.rs Transaction Fees and PaYouts to Miners
The Mike.rs Pool Fee (including the ethereum network fees) is 6%.
Each Miner’s paYout is determined by the Miner’s hash rate (Gh/s) and the Miner’s percentage-based share for each block as reflected on http://mike.rs/account/. When a block is found by the Pool, every Miner’s token balance is incremented based on 50 0xBTC tokens being in the block, minus the Pool Fee and then proportionally allocated to each Miner.
Mike.rs does not manually control the distribution of tokens to Miners. Tokens are distributed when the oxBTC smart contract receives from Mike.rs a valid nonce submitted by a Miner.
All paYouts to Miners will be sent through MultiSend to an address provided by the Miner to Mike.rs. Mike.rs is not responsible for any inaccuracies in Miner addresses or Miner addresses that are undeliverable.
Disclaimer of Warranties; Limitations of Liability; Indemnification
The information on this Site is provided on an "as is" basis. To the fullest extent permitted by law, Mike.rs excludes all representations and warranties relating to the Site and its contents or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in the Site and/or the Pool’s literature and excludes all liability for damages arising out of or in connection with Your use of this Site or the Pool. This includes, without limitation, direct loss, indirect loss tied to MultiSend functions, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of business or You have advised the Pool of the possibility of such potential loss), damage caused to Your computer, computer software, systems and programs and the data thereon or any other direct or indirect, consequential or incidental damages.
You will defend, indemnify, and hold Mike.rs harmless and all respective employees, officers, directors, and representatives from and against any claims, demand, action, damages, loss, liabilities, costs and expenses (including reasonable attorney fees) arising out of or relating to (i) any third-party claim concerning these Terms, (ii) Your use of, or conduct in connection with, Pool, (iii) any feedback You provide, (iv) Your violation of these Terms, (v) or Your violation of any rights of any other person or entity. If You are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it. If we are obligated to respond to a third-party subpoena or other compulsory legal order or process described above, You will also reimburse us for reasonable attorney fees, as well as our employees’ and contractors’ time and materials spent responding to the third-party subpoena or other compulsory legal order or process at reasonable hourly rates.
YOU AND Mike.rs AGREE THAT THE WARRANTY DISCLAIMERS AND LIMITATIONS OF LIABILITY IN THIS AGREEMENT ARE MATERIAL, BARGAINED-FOR BASES OF THIS AGREEMENT, AND THAT THEY HAVE BEEN TAKEN INTO ACCOUNT IN DETERMINING THE CONSIDERATION TO BE GIVEN BY EACH PARTY UNDER THIS AGREEMENT AND IN THE DECISION OF EACH PARTY TO ENTER INTO THIS AGREEMENT. YOU AND Mike.rs AGREE THAT THE WARRANTY DISCLAIMERS AND LIMITATIONS OF LIABILITY IN THESE TERMS ARE FAIR AND REASONABLE.
You hereby agree that You will not use Your participation in Mike.rs, this Site or the Pool to:
You agree and understand that any violation of the above prohibitions will subject You to immediate termination from participation in the Pool.
We use IP addresses to analyze trends, administer the Site, track user actions, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Additionally, for systems administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times/open mail, URL requested, and referral URL. This information is not shared with third parties and is used only within this Pool on a need-to-know basis. Any individually identifiable information related to this data will never be used in any way different to that stated above without Your explicit permission.
Digital Millennium Copyright Act (“DMCA”) Notice
Materials may be made available via the Mike.rs Site and related applications by third parties not within Mike.rs’ control. Mike.rs is under no obligation to, and does not, scan content used in connection with the Mike.rs Application for the inclusion of illegal or impermissible content. However, Mike.rs respects the copyright interests of others. It is Mike.rs’ policy not to permit materials known by Mike.rs to infringe another party’s copyright to remain on the Site and related applications. If You believe any materials on the Site infringe a copyright, You should provide us with written notice that at a minimum contains:
All DMCA notices should be sent to Mike.rs’ designated agent as follows:
Attn: General Counsel
Via Email: [email protected]
It is Mike.rs’ policy to terminate relationships regarding content with third parties who repeatedly infringe the copyrights of others.
It is Your responsibility to determine what, if any, taxes apply to the transactions You complete or services You provide via the Pool, it is Your responsibility to report and remit the correct tax to the appropriate taxation authorities. You agree that Mike.rs is not responsible for determining whether taxes apply to Your transactions or services or for collecting, reporting, withholding or remitting any taxes arising from any transactions or services. You also agree that Mike.rs is not obligated to compensate You for any tax obligation or provide any advice related to tax issues.
Communication and Support
You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures that Mike.rs provides in connection with Your Mike.rs Account or use of the Pool. You agree that Mike.rs may provide these communications to You by posting them via the Mike.rs Account or by emailing them to You at the email address You provide. You should maintain copies of electronic communications by printing a paper copy or saving an electronic copy.
It is Your responsibility to keep Your email address updated in the Mike.rs Account so that Mike.rs can communicate with You electronically. You understand and agree that if Mike.rs sends You an electronic communication but You do not receive it because Your email address is incorrect, out of date, blocked by Your service provider, or You are otherwise unable to receive electronic communications, it will be deemed that You have been provided with the communication. You can update Your Mike.rs Account preferences at any time by logging into Your Mike.rs Account. If Your email address becomes invalid such that electronic communications sent to You by Mike.rs are returned, Mike.rs may deem Your account to be inactive and close it, and You may not be able to use the Pool until Mike.rs does not receive a valid, working email address from You.
You may give Mike.rs notice under these Terms by sending an email to [email protected] All communication and notices pursuant to these Terms must be given in English language.
Most concerns can be resolved quickly and to the user’s satisfaction by contacting us at [email protected] If, however, we can’t resolve the issue, You agree that the following provisions will apply:
ARBITRATION AGREEMENT AND JURY TRIAL WAIVER, CLASS ACTION WAIVER, AND FORUM SELECTION CLAUSE. Any and all controversies, disputes, demands, counts, claims, or causes of action (including the interpretation and scope of this clause, and the arbitrability of the controversy, dispute, demand, count, claim, or cause of action) between You and Mike.rs or its successors or assigns shall exclusively be settled through binding and confidential arbitration.
Arbitration shall be subject to the Federal Arbitration Act and not any state arbitration law. The arbitration shall be conducted before one commercial arbitrator with substantial experience in resolving commercial contract disputes from the American Arbitration Association (“AAA”). As modified by this Agreement, and unless otherwise agreed upon by the parties in writing, the arbitration will be governed by the AAA’s Commercial Arbitration Rules and, if the arbitrator deems them applicable, the Supplementary Procedures for Consumer Related Disputes (collectively, the “Rules and Procedures”).
You are thus GIVING UP YOUR RIGHT TO GO TO COURT to assert or defend Your rights EXCEPT for matters that You file in small claims court. Your rights will be determined by a NEUTRAL ARBITRATOR and NOT a judge or jury. You are entitled to a FAIR HEARING, BUT the arbitration procedures are SIMPLER AND MORE LIMITED THAN RULES APPLICABLE IN COURT. Arbitrator decisions are as enforceable as any court order and are subject to VERY LIMITED REVIEW BY A COURT.
You and Mike.rs must abide by the following rules: (1) ANY CLAIMS BROUGHT BY YOU OR Mike.rs MUST BE BROUGHT IN THE PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING; (2) THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS, MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING, AND MAY NOT AWARD CLASS-WIDE RELIEF; (3) in the event that You are able to demonstrate that the costs of arbitration will be prohibitive as compared to costs of litigation, Mike.rs will pay as much of Your filing and hearing fees in connection with the arbitration as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive as compared to the cost of litigation, (4) Mike.rs also reserves the right in its sole and exclusive discretion to assume responsibility for all of the costs of the arbitration; (5) the arbitrator shall honor claims of privilege and privacy recognized at law; (6) the arbitration shall be confidential, and neither You nor we may disclose the existence, content or results of any arbitration, except as may be required by law or for purposes of enforcement of the arbitration award; (7) the arbitrator may award any individual relief or individual remedies that are permitted by applicable law; and (8) each side pays its own attorneys’ fees and expenses unless there is a statutory provision that requires the prevailing party to be paid its fees and litigation expenses, and, in such instance, the fees and costs awarded shall be determined by the applicable law.
Notwithstanding the foregoing, either You or Mike.rs may bring an individual action in small claims court. Further, claims of defamation, violation of the Computer Fraud and Abuse Act, and infringement or misappropriation of the other party’s patent, copyright, trademark, or trade secret shall not be subject to this arbitration agreement. Such claims shall be exclusively brought in the state or federal courts located in Laramie County, Wyoming. Additionally, notwithstanding this agreement to arbitrate, either party may seek emergency equitable relief before the state or federal courts located Laramie County, Wyoming in order to maintain the status quo pending arbitration, and hereby agree to submit to the exclusive personal jurisdiction of the courts located within Laramie County, Wyoming for such purpose. A request for interim measures shall not be deemed a waiver of the right to arbitrate.
With the exception of subparts (1) and (2) in this Section (prohibiting arbitration on a class or collective basis), if any part of this arbitration provision is deemed to be invalid, unenforceable, or illegal, or otherwise conflicts with the Rules and Procedures, then the balance of this arbitration provision shall remain in effect and shall be construed in accordance with its terms as if the invalid, unenforceable, illegal or conflicting part was not contained herein. If, however, either subpart (1) or (2) is found to be invalid, unenforceable, or illegal, then the entirety of this arbitration provision shall be null and void, and neither You nor Mike.rs shall be entitled to arbitration. If for any reason a claim proceeds in court rather than in arbitration, the dispute shall be exclusively brought in state or federal court located in Laramie County, Wyoming.
For more information on AAA, the Rules and Procedures, or the process for filing an arbitration claim, You may call AAA at 800-778-7879 or visit the AAA website at http://www.adr.org.
This Agreement is made under and shall be governed by and construed in accordance with the laws of the State of Wyoming, consistent with the Federal Arbitration Act, without giving effect to any principles that provide for the application of the law of another jurisdiction.
Usage By Children Under 18
This Site and the Pool are directed to adults and are not directed to children under the age of 18. Mike.rs cannot prohibit minors from visiting our websites so Mike.rs must rely on parents, guardians and those responsible for supervising children under 18 to decide which materials are appropriate for such children. Mike.rs complies with the Children’s Online Privacy Protection Act and does not permit registration by and will not knowingly collect personally identifiable information from anyone under 18. This requirement will be posted wherever we collect data within the Site, such as during the registration process.
These Terms do not create any third-party beneficiary rights in any individual or entity.
These Terms form the entire agreement and understanding relating to the subject matter hereof and supersede any previous and contemporaneous agreements, arrangements or understandings relating to the subject matter hereof to the exclusion of any terms implied by law that may be excluded by contract.
If at any time any provision of these Terms is or becomes illegal, invalid or unenforceable, the legality, validity and enforceability of every other provision will not in any way be impaired. Such illegal, invalid or unenforceable provision of these Terms shall be deemed to be modified and replaced by such legal, valid and enforceable provision, which corresponds as closely as possible to the business purpose reflected in these Terms.
Headings are for convenience only and shall not be used to limit or construe such sections.
No failure to enforce, nor any delay in enforcing, the Terms, any right or legal remedy shall function as a waiver thereof, nor shall any individual or partial exercise of any right or legal remedy prevent any further or other enforcement of these rights or legal remedies or the enforcement of any other rights or legal remedies.
Mike.rs reserves the right to make changes, amendments, supplementations or modifications from time to time to these Terms including but not limited to changes pertaining to a license agreement for Mike.rs mining software and of any fees and compensations policies, in its sole discretion and for any reason.
The rights and remedies conferred on Mike.rs by, or pursuant to, these Terms are cumulative and are in addition, and without prejudice, to all other rights and remedies otherwise available to Mike.rs at law.
These Terms are not boilerplate. If You disagree with any of them, believe that any should not apply to You, or wish to negotiate these Terms, please contact Mike.rs and immediately navigate away from the Mike.rs Site. Do not use the Pool until You and Mike.rs have agreed upon new terms of service.
Last Updated: June 16, 2018