Topic: [CLOSED] MtRed (PPS, LP+, API, 0 FEE) STRATUM on mine.mtred.com:3333 - page 5. (Read 176214 times)

From the last time I looked at my rewards the amount has halved. Were 1/2 the withdrawals already processed or was this some sort of correction?

Payouts have been enabled on the main site. I still dont have the newer withdraw system in place, but as long as you get a txid in your payouts tables it will broadcast eventually.

Also, I'm in #mtred@freenode answering questions if you wanna talk.

Why not just make a change from now to implement a fee - once the fee covers the backlog you could pay that balance out, and the continue with a fee to build some buffer back in.

Sorry to see another pool closing
Best wishes with your future ventures redditorrex
Graet

Thanks RR.

Good luck.

Thanks for everything

It's sad to see MtRed go. I only just joined recently. I've only made 0.01450515 BTC and never withdrew anything, but oh well. Best of luck in the future.

Maybe a switch to a few percent fee and PPS/PPLNS would help, also, bitcoins are crashing, wait a few days and they will be below 20% of what they were 8 hours ago...

Sorry to see you go, MtRed.

Always honest with no hidden fees or other nonsense. Sad for it to end this way..

Edit: if you need to buy coins then watch the price now, seems to be totally crashing.. maybe that helps

Rex, my balance is only 0.00297025 but I would like to donate to help with the MtRed payouts. Please feel free to zero out my account (it's under my same username).

It was an awesome service while it lasted, thank you.

This is the point...I have been waiting. And as far as dragging hes name in the mud...seems to be doing that fine all by himself. Yes...I was.

How about you wait to see if he fulfils his obligations before you mudden his name? Pools fail, regardless of a backup plan. I hope you were a donator, since only donations could have actually saved the pool.

WTF!?        Sorry to  hear your having problems but the Bottom line is pay the miners...I have been waiting 3 days for a payout. Figure your shit out and make it happen.

2 years doing this and you have no backup plan other than...Gee guys...sorry I fucked up? What a joke...your name is mud.

yeah, you are great! try to introduce a fee or change to PPLNS, DGM, etc
which of the balances are going to be paid?
balance? (i think this for sure)
processing? (maybe this one too)
estimation? (not this one?)

BTW, you haven't failed anyone, don't be so hard on yourself. You are great.

I'm sorry to hear you're closing MTRED, the community is losing your skills and knowledge. Is there any chance you'll convert to PPLNS or DGM, as HHTT did?

Unfortunate, but I understand, rex! Best of luck to you in the future!

Shit shit shit 

Not even if you introduce a fee?

Hey guys, It saddens me to announce that MtRed will be shutting down.
 
We are, with this current block, going to surpass a negative buffer half of what is owed to miners.  We have had a negative buffer for a while now, not this bad, but with the price soaring well over $200 USD per coin I can not allow this to continue. It was always the plan that if the buffer ever went to half of what is owed that we would shutdown. Up until January I probably would have been able to cover such an event out of pocket, but I must admit that is not possible today.
 
How did it get this bad? Two main reasons, programming incompetence on my part has overpaid a vast amount of BTC over the last 2 years, and server bills upwards of $700.  During which times Bitcoin prices were steady but low compared to today. These factors plus the very unlikely sustainability of running a 0% fee PPS pool, and my naive experience in running something as large as MtRed are what I believe is why I have failed you.
 
In order to spread remaining funds as equally to the miners as we can, certain actions will be taken over the course of the next two months.
 
The plan to release the remaining Bitcoins is as follow.
 
You will have two weeks to withdraw the first half of your balances. After the two weeks, you will be able to withdraw the remaining half of your balance. After that, for those who didn't withdraw in the first two weeks will be able to withdraw their remaining balance. As the pool balances reaches zero I will import the 1MtRed account and pay off remain withdraws with that.

Reviewing the code, the orphan was credited, but wasn't subtracted from the processing balance. But in the coming weeks we will be using the processing field to store your remain balance.

Payouts will begin this evening.

Again, I am truly sorry to have failed the MtRed miners, the Bitcoin community, and myself.
 
-RR

Not that I know of:
https://bitcointalksearch.org/topic/btc-mining-pools-list-104664