Just a short update on progress.
At the current rate if we can get an extra 100GH added today to the pool it should be highly possible to clear all pre-september and September-end of September payments at the end of September, meaning it will be up 2 date on payments at the end of September speeding up the recovery process.
I hope this is some good news, if some of you could add extra GH to get to about 100GH more on the pool this would be doable cutting all outstanding payouts by a month from the initial repayment plans.
Topic: [ Bonus PPS Pool - 130% PPS - OPEN ] (Read 94062 times)
POOL FUNDS UPDATE AND REIMBURSEMENT PROCESS :
After a week of negotiations surrounding this mess that I am fully to blame for, well aside from the fact BTCST should have paid out by now, I need to breakdown my plans on paying back all outstanding pool earnings.
Right now I still have private contracts to finish which would yield me the final payments on them as soon as they clear, these contracts are due for final payment by the end of September and the final amounts by the end of October which means the following:
1.) In order for me to get the remaining outstanding payments on the contract I need to keep the pool running with miners otherwise its clear that I wouldnt be able to finish these contracts which in return wouldnt pay me the final payments.
2.) All unpaid balances up to 29th of August for each miner will be paid out at total combined unpaid balance + 20% (this is an interest tax I am paying extra which would effectively be covered by my 20% market on sold contracts) and this will be paid out before/on September 30th.
3.) All unpaid balances between 1 September - 31 October will be paid out in full by the end of 31 October and I will be paying out at total unpaid balance + 30% which would effectively clear me out of BTC from contract earnings but also make good in total on all unpaid balances and earn some extra BTC for everyone(especially the users who likely hate me at this point)
4.) On the 31st of October if there is BTC still outstanding I will make good on that by buying the BTC so that everyone will be paid up in full on their past mining.
5.) Until this mess is cleared up by no later than October 31st, the new website is put on hold and if I can still have the trust of miners at that time after they see I made good on my promises I will launch the new website and take things forward from that point on. I have definitely learned out of this process and history wont repeat itself.
6.) At this point I am not making any BTC payouts, I know there is a few with small balances but when I start pick and choosing with not enough BTC at this point to payout to everyone this mess will just get more out of hand. All I can ask of everyone with balances is to remain calm and expect their full earnings paid out no later than the process above.
7.) Starting on the 29th of September I will place all miners on 130% PPS so that their earnings would allready reflect each week what they would receive at the end when I make the payouts.
All details above would be sorted out ahead of time if BTCST funds gets paid out before end of October and if BTCST payout ahead of time I will update the total extra interest to accomodate the earlier payouts but it will be in daily proportions on interest.
The plan above is to ensure that if BTCST doesnt payout before end of October or worst case never pays out then atleast I can get everyone their funds back even though it would cost me alot out of my pockets and all my contract profits in the process.
I accept responsibility for this loss since it was my stupidity which got us in this mess.
Now I need to ask from all miners to help me out at this point so that the pool doesnt grind to a halt and cause potentially even more problems with the above payouts considering it will work out as stated above as long as I can finish the running contracts which wont be a problem as long as miners continue to mine.
If you cant afford to wait such long periods for BTC payments as outlined above I would understand but if you can spare a portion of your regular mining power for the duration of this process it would go a long way to fix this situation.
I know some of you might ask me why cant I pay out the earnings since last friday when BTCST shutdown and the answre to that is actually quite simple, through the year I allways paid from my own personal BTC stash for the duration of contract and replenished my BTC stash as soon as the contracts were fully paid.
While a contract runs I direct my pool traffic to the bitcoind of the buyer so that they can have their clean virgin blocks and the buyer pays me in fiat, partially at the start of the contract and the majority at the end of the contract.
Now obviously I dont have my own BTC stash to make the regular payouts since I moved that to BTCST right before this whole BTCST shutdown occurred which left me dry and BTCless however I do have a good portion of fiat which I would move to buy BTC on the 31st of October for whatever outstanding balance still remains.
I am confident that if miners work together with me during this process they will come ahead with their extra percentages as stated above and I would be able to make good on the outstanding balances.
Id like to keep this thread unlocked but due to all the delays and problems caused by the BTCST shutdown I really dont want a thread full of spam stating the very obvious such as, "How could you be so stupid" etc. , I have outlined my plan of reimbursement and I will stick to that and if miners work together with me on this it would run according to plan and problably even faster.
I really appreciate the fact that a big group of miners have kept their calm through this even though its a difficult situation.
Feel free to get back onto the pool with either your full hashrate or partial hashrate if you are happy with the process outlined above, the more hashing power I have on the pool the sooner I can finish the outstanding contracts.
Email/PM me in the meantime if you wish to talk more about the process, I can unfortunately not change what have happened and the only solution right now is the process outlined above so please when you contact me there is no point asking me for payouts etc. since I will not be able to give you a earlier payout date even if I wanted.
For those of you who want to make use of the higher PPS rates I will be paying you are welcome to signup with the normal details and help out during this process of reimbursement.
Sign-up :
Send me a PM on this forum with the following details : (If you were mining the week before before the changes, you dont need to apply again)
After a week of negotiations surrounding this mess that I am fully to blame for, well aside from the fact BTCST should have paid out by now, I need to breakdown my plans on paying back all outstanding pool earnings.
Right now I still have private contracts to finish which would yield me the final payments on them as soon as they clear, these contracts are due for final payment by the end of September and the final amounts by the end of October which means the following:
1.) In order for me to get the remaining outstanding payments on the contract I need to keep the pool running with miners otherwise its clear that I wouldnt be able to finish these contracts which in return wouldnt pay me the final payments.
2.) All unpaid balances up to 29th of August for each miner will be paid out at total combined unpaid balance + 20% (this is an interest tax I am paying extra which would effectively be covered by my 20% market on sold contracts) and this will be paid out before/on September 30th.
3.) All unpaid balances between 1 September - 31 October will be paid out in full by the end of 31 October and I will be paying out at total unpaid balance + 30% which would effectively clear me out of BTC from contract earnings but also make good in total on all unpaid balances and earn some extra BTC for everyone(especially the users who likely hate me at this point)
4.) On the 31st of October if there is BTC still outstanding I will make good on that by buying the BTC so that everyone will be paid up in full on their past mining.
5.) Until this mess is cleared up by no later than October 31st, the new website is put on hold and if I can still have the trust of miners at that time after they see I made good on my promises I will launch the new website and take things forward from that point on. I have definitely learned out of this process and history wont repeat itself.
6.) At this point I am not making any BTC payouts, I know there is a few with small balances but when I start pick and choosing with not enough BTC at this point to payout to everyone this mess will just get more out of hand. All I can ask of everyone with balances is to remain calm and expect their full earnings paid out no later than the process above.
7.) Starting on the 29th of September I will place all miners on 130% PPS so that their earnings would allready reflect each week what they would receive at the end when I make the payouts.
All details above would be sorted out ahead of time if BTCST funds gets paid out before end of October and if BTCST payout ahead of time I will update the total extra interest to accomodate the earlier payouts but it will be in daily proportions on interest.
The plan above is to ensure that if BTCST doesnt payout before end of October or worst case never pays out then atleast I can get everyone their funds back even though it would cost me alot out of my pockets and all my contract profits in the process.
I accept responsibility for this loss since it was my stupidity which got us in this mess.
Now I need to ask from all miners to help me out at this point so that the pool doesnt grind to a halt and cause potentially even more problems with the above payouts considering it will work out as stated above as long as I can finish the running contracts which wont be a problem as long as miners continue to mine.
If you cant afford to wait such long periods for BTC payments as outlined above I would understand but if you can spare a portion of your regular mining power for the duration of this process it would go a long way to fix this situation.
I know some of you might ask me why cant I pay out the earnings since last friday when BTCST shutdown and the answre to that is actually quite simple, through the year I allways paid from my own personal BTC stash for the duration of contract and replenished my BTC stash as soon as the contracts were fully paid.
While a contract runs I direct my pool traffic to the bitcoind of the buyer so that they can have their clean virgin blocks and the buyer pays me in fiat, partially at the start of the contract and the majority at the end of the contract.
Now obviously I dont have my own BTC stash to make the regular payouts since I moved that to BTCST right before this whole BTCST shutdown occurred which left me dry and BTCless however I do have a good portion of fiat which I would move to buy BTC on the 31st of October for whatever outstanding balance still remains.
I am confident that if miners work together with me during this process they will come ahead with their extra percentages as stated above and I would be able to make good on the outstanding balances.
Id like to keep this thread unlocked but due to all the delays and problems caused by the BTCST shutdown I really dont want a thread full of spam stating the very obvious such as, "How could you be so stupid" etc. , I have outlined my plan of reimbursement and I will stick to that and if miners work together with me on this it would run according to plan and problably even faster.
I really appreciate the fact that a big group of miners have kept their calm through this even though its a difficult situation.
Feel free to get back onto the pool with either your full hashrate or partial hashrate if you are happy with the process outlined above, the more hashing power I have on the pool the sooner I can finish the outstanding contracts.
Email/PM me in the meantime if you wish to talk more about the process, I can unfortunately not change what have happened and the only solution right now is the process outlined above so please when you contact me there is no point asking me for payouts etc. since I will not be able to give you a earlier payout date even if I wanted.
For those of you who want to make use of the higher PPS rates I will be paying you are welcome to signup with the normal details and help out during this process of reimbursement.
Sign-up :
Send me a PM on this forum with the following details : (If you were mining the week before before the changes, you dont need to apply again)
- Subject: Bonus PPS Pool - Public BETA Signup
- Gh: maximum hashrate you would point at Bonuspool.
- Email: so I can email you the pool details.
- BTCwallet: so I can pay you.
I will have a lengthier update on Monday 27th of August. All payouts is still pending until atleast then.
Sorry for this disaster, trying to work through this.
Sorry for this disaster, trying to work through this.
INTEREST ACCOUNTS CLOSING :
Just a heads up on interest accounts closing and the reasons for it :
1.) The current bullish market simply doesnt allow enough flexibility for me right now and most likely into the current foreseeable future to do effective margin trading/scalping on a daily basis and the side effect is slowly churning into my own funds without covering the market spreads.
2.) A small portion of funds I held with BTCST and to counter risk I left the rest in my trading accounts, pirate@40 is ending the BTCST service effective immediately and will have all outstanding payments send out by the 27th of August. As soon as I get my portions out I will be closing out all open interest accounts.
So as it stands I will have all user funds plus proper interest paid out by the 27th of August, the final interest date is for period ending on Wednesday August 22nd and from that date onwards all miner payments will be made to everyone on the regular weekly payout date moving forward.
Only the investment offers close down leaving the regular mining payout details unchanged.
Sorry for the inconvenience, as soon as I find/need investors again I will open interest bearing accounts again.
Right now its mining as usual and nothing changes on that specific front.
I would appreciate everyone understanding this process and that everyone would be paid up in full no later than end of 27th of August on their interest accounts.
As usual I will look at new ways to offer miners of Bonuspool added value as soon as possible.
Any questions please feel free to pm or email me.
Thanks and happy mining.
PS. Locking thread for a few days so everyone can read this.
Just a heads up on interest accounts closing and the reasons for it :
1.) The current bullish market simply doesnt allow enough flexibility for me right now and most likely into the current foreseeable future to do effective margin trading/scalping on a daily basis and the side effect is slowly churning into my own funds without covering the market spreads.
2.) A small portion of funds I held with BTCST and to counter risk I left the rest in my trading accounts, pirate@40 is ending the BTCST service effective immediately and will have all outstanding payments send out by the 27th of August. As soon as I get my portions out I will be closing out all open interest accounts.
So as it stands I will have all user funds plus proper interest paid out by the 27th of August, the final interest date is for period ending on Wednesday August 22nd and from that date onwards all miner payments will be made to everyone on the regular weekly payout date moving forward.
Only the investment offers close down leaving the regular mining payout details unchanged.
Sorry for the inconvenience, as soon as I find/need investors again I will open interest bearing accounts again.
Right now its mining as usual and nothing changes on that specific front.
I would appreciate everyone understanding this process and that everyone would be paid up in full no later than end of 27th of August on their interest accounts.
As usual I will look at new ways to offer miners of Bonuspool added value as soon as possible.
Any questions please feel free to pm or email me.
Thanks and happy mining.
PS. Locking thread for a few days so everyone can read this.
WEEKLY PAYMENTS + JACKPOT WINNER:
Congratulations to the miner with wallet: 1Hycj8dVMyrMTvaMMKeJrigQbg9yofYzfx for winning the jackpot this week for a total of 7.73543123 BTC which will be added to your payment history.
All regular payments were also made earlier than usual.
Please note that the Jackpot will roll over from now on until the launch of the new website and will then be used along with new guidelines that will be made public at the time.
Congratulations to the miner with wallet: 1Hycj8dVMyrMTvaMMKeJrigQbg9yofYzfx for winning the jackpot this week for a total of 7.73543123 BTC which will be added to your payment history.
All regular payments were also made earlier than usual.
Please note that the Jackpot will roll over from now on until the launch of the new website and will then be used along with new guidelines that will be made public at the time.
Running some logging through the night to figure out where the latest rejects/stales coming from, will get it resolved when I wake up.
Oh fine 
So meaning everyone is involved and the more shares submitted the higher chance you have of winning?
Not only for investment miners?
neat.... so like what we were talking about before, each share ='s a ticket?
Not only for investment miners?
neat.... so like what we were talking about before, each share ='s a ticket?
Before I confuse everyone and respond to multiple questions, lets get the new site up and I will do a full write up of how it all fits together.
So meaning everyone is involved and the more shares submitted the higher chance you have of winning?
Not only for investment miners?
neat.... so like what we were talking about before, each share ='s a ticket?
Not only for investment miners?
neat.... so like what we were talking about before, each share ='s a ticket?
JACKPOT NOTICE :
The current jackpot will be assigned as usual this Wednesday and thereafter the Jackpot total will build up to be used along with the start of the new website so there would be a nice FAT pool of funds available equally spread among everyone mining based on their contributed shares.
The Jackpot wont be assigned to just one lucky miner anymore but evenly distributed across all miners based on their submitted shares for a specific period and miners would be able to view their standings and jackpot earnings percentage on a leaderboard updated each day.
So from the new Jackpot starting Wednesday the total will keep counting up until the new website kicks off, the current Jackpot setup that rewards a single miner was temporary from the start with the goal of a more transparent/fair system allways planned from the start except it isnt possible yet without the new website.
It will make everyone better off and once revealed I am confident miners would agree with me on the final changes for the new website.
Lots of development still coming and I am moving as fast as I can with available time each day.
Happy mining!
The current jackpot will be assigned as usual this Wednesday and thereafter the Jackpot total will build up to be used along with the start of the new website so there would be a nice FAT pool of funds available equally spread among everyone mining based on their contributed shares.
The Jackpot wont be assigned to just one lucky miner anymore but evenly distributed across all miners based on their submitted shares for a specific period and miners would be able to view their standings and jackpot earnings percentage on a leaderboard updated each day.
So from the new Jackpot starting Wednesday the total will keep counting up until the new website kicks off, the current Jackpot setup that rewards a single miner was temporary from the start with the goal of a more transparent/fair system allways planned from the start except it isnt possible yet without the new website.
It will make everyone better off and once revealed I am confident miners would agree with me on the final changes for the new website.
Lots of development still coming and I am moving as fast as I can with available time each day.
Happy mining!
Nice pool, .3% stales not bad at all, hope the new website add mor options. Good work
Not bad, about 1.2 instead of .8%
Seems alot of datacentres are being targetted with DDOS activity and my datacentre is also in the crosshair.
The pool is up and functional but there is occasional packetloss which does increase the overall stalerate until this is resolved. Alot of pools/datacentres seem to be affected today but Bonuspool is handling pretty well during this chaos.
The pool is up and functional but there is occasional packetloss which does increase the overall stalerate until this is resolved. Alot of pools/datacentres seem to be affected today but Bonuspool is handling pretty well during this chaos.
PAYMENTS + JACKPOT WINNER:
Congratulations to the miner with wallet: 1Nb6c11NKkZTnMZhCMbMVQapbQ552T1dPh for winning the Weekly Jackpot of 7.56251733 BTC which will be added to your payment history.
All payouts made for those who requested to be paid weekly and also for miners who requested payouts.
Congratulations to the miner with wallet: 1Nb6c11NKkZTnMZhCMbMVQapbQ552T1dPh for winning the Weekly Jackpot of 7.56251733 BTC which will be added to your payment history.
All payouts made for those who requested to be paid weekly and also for miners who requested payouts.
Personally I don't like the indefinite time nature of the investment. You should apply some maximum to make it sound better.
The maximum depends on the user or if I put a end on interest/reached maximum required investment balance etc.
Basicly I am making it as free and self managed as possible right now, if anyone want to leave it in for 1 week or 4weeks or whatever then its up to them to decide rather than me having some arbitrary rule in place which only constitute as more unneccesary work specificly if a user want to leave it in for longer any ways.
I am still at the starting phase of this and still busy balancing numbers so right now I have more leeway which may change later on.
In short, anyone who wants to use 4 weeks max just need to tell me before the 4 weeks are over that they want to be paid out at next payout.
Personally I don't like the indefinite time nature of the investment. You should apply some maximum to make it sound better.
I hope that makes sense. 
Yes, that makes perfect sense Looking forward to that new website 
Is there an ETA for the new website? Thanks.
Yes, 1 September.
Thanks!
Is there an ETA for the new website? Thanks.
Yes, 1 September. Its progressing nicely and I dont see any reason for it not being done at that time if not earlier.
Is there an ETA for the new website? Thanks.
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