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Topic: [UNRESPONSIVE POOL OPERATOR] 50BTC.com - page 43. (Read 257895 times)

full member
Activity: 236
Merit: 100
October 31, 2013, 08:34:42 PM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...
I am not American. Grin
 Unfortunately, my guess are that the pool will not be back to normal as long as they do not pay honestly earned coins. I do not want others Bitcoins - I want to get my back.
and more. Pool speed drops and drops - people do not believe what they write.
sorry for my english

OK, lets do a little business 101 here... (and some common sense)

If there was a theft of coins which appears likely, how would you suggest they pay them back to people who earned them (the members who effectively had their coins stolen by a third party that were held at 50btc)?
How do you think they make an income? with the percentages (in the form of commission) as you would figure out with basic understandings of most mining pool business models...

So if you keep the above in mind... how would you expect them to cover the outstanding balances with zero income? Unless you *ASSUME* they have other funds hidden somewhere.

You could see this as a company seeking bankruptcy protection whilst attempting to trade out of the bad situation so everyone would get paid eventually.

Finally here is how I can see it working, if they are honest (do we have any proof of any dishonesty? what happened last time there was an issue like this?) then they would need some form of income for new %s (as a commission) off the top of the hashed/mined coins from here on in, as you can not pay people with money you do not have unless you steal from someone else, which would be rather unethical to me and I would not trust a thief (remember they are claiming theft from them via one means or another, ie they claim to be a victim here also), I do not suspect that their motive is to steal (from past history and) as they are still functional (to a degree) and have not said (like abcpool.co - I know different story but I lost coins there too) that they would close up. To me it looks like they have intentions to trade through this, time will tell and you would be right to think it is a gamble to push hashes their way but in the same breath it may be the only way people will get paid out and for them to grow again. I also hope that if/when the get through this storm they show appreciation to those who stood by them and had faith in their commitment.



Did you create this account specifically to be an Ass Hat? They need to pay their customers what is due. Not you Unicorns and Rainbow theory. This is a business, not a charity....
legendary
Activity: 1750
Merit: 1007
October 31, 2013, 08:10:54 PM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...
I am not American. Grin
 Unfortunately, my guess are that the pool will not be back to normal as long as they do not pay honestly earned coins. I do not want others Bitcoins - I want to get my back.
and more. Pool speed drops and drops - people do not believe what they write.
sorry for my english

OK, lets do a little business 101 here... (and some common sense)

If there was a theft of coins which appears likely, how would you suggest they pay them back to people who earned them (the members who effectively had their coins stolen by a third party that were held at 50btc)?
How do you think they make an income? with the percentages (in the form of commission) as you would figure out with basic understandings of most mining pool business models...

So if you keep the above in mind... how would you expect them to cover the outstanding balances with zero income? Unless you *ASSUME* they have other funds hidden somewhere.

You could see this as a company seeking bankruptcy protection whilst attempting to trade out of the bad situation so everyone would get paid eventually.

Finally here is how I can see it working, if they are honest (do we have any proof of any dishonesty? what happened last time there was an issue like this?) then they would need some form of income for new %s (as a commission) off the top of the hashed/mined coins from here on in, as you can not pay people with money you do not have unless you steal from someone else, which would be rather unethical to me and I would not trust a thief (remember they are claiming theft from them via one means or another, ie they claim to be a victim here also), I do not suspect that their motive is to steal (from past history and) as they are still functional (to a degree) and have not said (like abcpool.co - I know different story but I lost coins there too) that they would close up. To me it looks like they have intentions to trade through this, time will tell and you would be right to think it is a gamble to push hashes their way but in the same breath it may be the only way people will get paid out and for them to grow again. I also hope that if/when the get through this storm they show appreciation to those who stood by them and had faith in their commitment.



If they lost user's money, it should be paid out of previous profits they took in.  Just like any other pool that has had a theft/hack occur.  You either close the pool, or man up and take the loss.  If the pool keeps running and people are expected to just give up the coins they've lost as a result of 50BTC's failed security, this thread should be moved to the Scammer section instead.
member
Activity: 77
Merit: 10
October 31, 2013, 07:27:04 PM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...
I am not American. Grin
 Unfortunately, my guess are that the pool will not be back to normal as long as they do not pay honestly earned coins. I do not want others Bitcoins - I want to get my back.
and more. Pool speed drops and drops - people do not believe what they write.
sorry for my english

OK, lets do a little business 101 here... (and some common sense)

If there was a theft of coins which appears likely, how would you suggest they pay them back to people who earned them (the members who effectively had their coins stolen by a third party that were held at 50btc)?
How do you think they make an income? with the percentages (in the form of commission) as you would figure out with basic understandings of most mining pool business models...

So if you keep the above in mind... how would you expect them to cover the outstanding balances with zero income? Unless you *ASSUME* they have other funds hidden somewhere.

You could see this as a company seeking bankruptcy protection whilst attempting to trade out of the bad situation so everyone would get paid eventually.

Finally here is how I can see it working, if they are honest (do we have any proof of any dishonesty? what happened last time there was an issue like this?) then they would need some form of income for new %s (as a commission) off the top of the hashed/mined coins from here on in, as you can not pay people with money you do not have unless you steal from someone else, which would be rather unethical to me and I would not trust a thief (remember they are claiming theft from them via one means or another, ie they claim to be a victim here also), I do not suspect that their motive is to steal (from past history and) as they are still functional (to a degree) and have not said (like abcpool.co - I know different story but I lost coins there too) that they would close up. To me it looks like they have intentions to trade through this, time will tell and you would be right to think it is a gamble to push hashes their way but in the same breath it may be the only way people will get paid out and for them to grow again. I also hope that if/when the get through this storm they show appreciation to those who stood by them and had faith in their commitment.

hero member
Activity: 952
Merit: 502
SAPG Pre-Sale Live on Uniswap!
October 31, 2013, 06:40:53 AM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...
I am not American. Grin
 Unfortunately, my guess are that the pool will not be back to normal as long as they do not pay honestly earned coins. I do not want others Bitcoins - I want to get my back.
and more. Pool speed drops and drops - people do not believe what they write.
sorry for my english
newbie
Activity: 31
Merit: 0
October 31, 2013, 12:02:04 AM
50btc.com
plzzz help me first to let me login to my account then can wait later for recover stock

my user: [email protected]

so ?

legendary
Activity: 1526
Merit: 1000
the grandpa of cryptos
October 30, 2013, 11:34:44 PM
they shoul d at least pay a bit of whats owed
newbie
Activity: 26
Merit: 0
October 30, 2013, 11:21:19 AM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...

I cant speak for the other guy, but i'd have no issue mining there, even with a outstanding debt owed, if i knew what i was mining at the time was at least being credited and paid.
Im part of a collective of members in ProgressiveBTCMining.com and they were using 50BTC with a 0.5btc automated payment set up, and it accumulated a little over 2.5btc (2.75 ish) before it became obvious it was a bigger issue than they'd been claiming and just like everyone else those funds are in a frozen payout queue.

Now, i'd be willing to agree to return to 50BTC, trusting them to pay their obligations to their users when they can, while returning to the PPS system and paying out as requested. It wouldnt be my decision, but i'd vote that way.
Obviously, the issues they have make this a non-starter for them, if they've got some sort of vulnerability with how they've set their PPS system up then they shouldnt return it, and because they cant offer PPS, i feel no rational obligation to mine their over any other location and i dont think thats unreasonable.
I know for a fact we'd return if things went back to normal (a fool-proof, un-exploitable version of normal) with PPS, although *if* they refused to pay out their existing obligations (legit ones) that might be a different matter, and i suspect most people would have no trouble returning.

Would i put my own hashrate in their direction with uncertainties hanging over them, sadly not. But when those disappear, i'd have no issue.
PBM has a loyalty to its members first, and 50BTC is already holding some of our funds, i wouldnt be impressed if they started moving their hashrate back, prioritising loyalty to 50BTC before its members.

Sadly this is all business, 50BTC is a business, it profits handsomely from offering a popular service, and what it earns it deserves. But when its not offering that full service, people will find an alternative service. Its not unreasonable behaviour. I honestly wish them a speedy recovery, but i'd be using their 'rivals' (aka 'evilpool' Wink) while their service isnt being offered to an acceptable standard. Its honourable if people want to stick by them, but i doubt many are keen to continue stockpiling funds they cannot access and action on.
member
Activity: 77
Merit: 10
October 30, 2013, 07:16:46 AM
No any normal person would not be there mine, until they pay the debts of

So you would say, liquidate and not let them trade out (in business terms)? More an American type of logic... where as if they do have financial issues and they can trade out and everyone gets their btc... is that not a better option than them shutting down and all the users losing out, because some people just don't care?

Please do not be offended, I am not suggesting you are American, just it is that type of mentality that I see from them, an observation if you will...
hero member
Activity: 952
Merit: 502
SAPG Pre-Sale Live on Uniswap!
October 30, 2013, 05:58:31 AM
No any normal person would not be there mine, until they pay the debts of
member
Activity: 77
Merit: 10
October 30, 2013, 03:50:30 AM
Hmm... hash rate keeps dropping... 5,946Gh right now...
member
Activity: 77
Merit: 10
October 29, 2013, 11:15:09 PM
Well, here is an idea... and what I am doing...

To help out and be a good user of the service (which I hope is recognised at a later date by 50btc.com) I am sending the occasional hashing to their pool even if it is just some Mhps, if we all did it, then the hash rate would improve for them and as I said, hopefully they will appreciate it at a later time when they are able to, for example, maybe for people who help them to have a special rate like a 0% fee as a thank you? Just a thought as it would be sad to see the pool die further as it is currently 6,674GHps, a far cry from the hay day.

Another example... If you got 10 asic BE USBs, maybe split one off to hash for 50btc.com ? it is only 10% of your hash rate so will not make a big difference to most but if 20 people did that it would be more that their current hash rate at this point in time.

Again this is just a thought as I am a sentimental guy and hate to see things like this happen whilst everyone just thinks about their money.

regards
B
I've got 9 ASICMINER Block Erupter USBs, and I've kept one mining on 50BTC the whole time.  Bit worried though, because for a few hours now my hash rate on 50BTC is reporting as 0, but when I look at cgminer I'm definitely submitting shares.  Looks like everyone's hash rate right now on 50BTC is reported as 0!

I have seen this before, long before there, and on other sites, I think it maybe just a refresh issue. You will probably see it will state you have no miners connected also.
hero member
Activity: 700
Merit: 504
Run a Bitcoin node.
October 29, 2013, 10:02:24 PM
Well, here is an idea... and what I am doing...

To help out and be a good user of the service (which I hope is recognised at a later date by 50btc.com) I am sending the occasional hashing to their pool even if it is just some Mhps, if we all did it, then the hash rate would improve for them and as I said, hopefully they will appreciate it at a later time when they are able to, for example, maybe for people who help them to have a special rate like a 0% fee as a thank you? Just a thought as it would be sad to see the pool die further as it is currently 6,674GHps, a far cry from the hay day.

Another example... If you got 10 asic BE USBs, maybe split one off to hash for 50btc.com ? it is only 10% of your hash rate so will not make a big difference to most but if 20 people did that it would be more that their current hash rate at this point in time.

Again this is just a thought as I am a sentimental guy and hate to see things like this happen whilst everyone just thinks about their money.

regards
B
I've got 9 ASICMINER Block Erupter USBs, and I've kept one mining on 50BTC the whole time.  Bit worried though, because for a few hours now my hash rate on 50BTC is reporting as 0, but when I look at cgminer I'm definitely submitting shares.  Looks like everyone's hash rate right now on 50BTC is reported as 0!
member
Activity: 77
Merit: 10
October 29, 2013, 04:22:00 PM
Well, here is an idea... and what I am doing...

To help out and be a good user of the service (which I hope is recognised at a later date by 50btc.com) I am sending the occasional hashing to their pool even if it is just some Mhps, if we all did it, then the hash rate would improve for them and as I said, hopefully they will appreciate it at a later time when they are able to, for example, maybe for people who help them to have a special rate like a 0% fee as a thank you? Just a thought as it would be sad to see the pool die further as it is currently 6,674GHps, a far cry from the hay day.

Another example... If you got 10 asic BE USBs, maybe split one off to hash for 50btc.com ? it is only 10% of your hash rate so will not make a big difference to most but if 20 people did that it would be more that their current hash rate at this point in time.

Again this is just a thought as I am a sentimental guy and hate to see things like this happen whilst everyone just thinks about their money.

regards
B

+1 as I believe they will be back

+1 as I like your plus 1 to me..  Grin oh yeh I also believe they will be back, the domain is way too popular.
sr. member
Activity: 302
Merit: 252
October 29, 2013, 10:53:53 AM
Well, here is an idea... and what I am doing...

To help out and be a good user of the service (which I hope is recognised at a later date by 50btc.com) I am sending the occasional hashing to their pool even if it is just some Mhps, if we all did it, then the hash rate would improve for them and as I said, hopefully they will appreciate it at a later time when they are able to, for example, maybe for people who help them to have a special rate like a 0% fee as a thank you? Just a thought as it would be sad to see the pool die further as it is currently 6,674GHps, a far cry from the hay day.

Another example... If you got 10 asic BE USBs, maybe split one off to hash for 50btc.com ? it is only 10% of your hash rate so will not make a big difference to most but if 20 people did that it would be more that their current hash rate at this point in time.

Again this is just a thought as I am a sentimental guy and hate to see things like this happen whilst everyone just thinks about their money.

regards
B

+1 as I believe they will be back
member
Activity: 77
Merit: 10
October 29, 2013, 08:09:25 AM
Are you able to login guys?  I get "A record with the supplied identity could not be found." (And I double-checked the login credentials...)

Yep, logged in ok for me...
member
Activity: 77
Merit: 10
October 29, 2013, 07:27:24 AM
Well, here is an idea... and what I am doing...

To help out and be a good user of the service (which I hope is recognised at a later date by 50btc.com) I am sending the occasional hashing to their pool even if it is just some Mhps, if we all did it, then the hash rate would improve for them and as I said, hopefully they will appreciate it at a later time when they are able to, for example, maybe for people who help them to have a special rate like a 0% fee as a thank you? Just a thought as it would be sad to see the pool die further as it is currently 6,674GHps, a far cry from the hay day.

Another example... If you got 10 asic BE USBs, maybe split one off to hash for 50btc.com ? it is only 10% of your hash rate so will not make a big difference to most but if 20 people did that it would be more that their current hash rate at this point in time.

Again this is just a thought as I am a sentimental guy and hate to see things like this happen whilst everyone just thinks about their money.

regards
B
sr. member
Activity: 378
Merit: 250
October 28, 2013, 09:02:29 PM
Are you able to login guys?  I get "A record with the supplied identity could not be found." (And I double-checked the login credentials...)
legendary
Activity: 1680
Merit: 1014
October 28, 2013, 05:22:58 PM
Thanks for the update, guys. Keep it up. You were the first pool that I ever used and I sure hope you will still be around.
I too have 200+ BTC reported on my account balance, though I for sure know that I had less that 0.005 after the last payout that I performed.
hero member
Activity: 692
Merit: 500
October 28, 2013, 02:13:41 PM
Can you share any details of the evilpool?

I notice that organifcorti has reported large hashrate up spikes in certain pools, and whether by coincidence or not, another large pool has seen anecdotal repors of hashrate drops by 200TH or so.

That may not necessarily mean the attacker is a pool, it could be a private group/state group with 200TH of miners (plus the ability to DDOS)
full member
Activity: 128
Merit: 100
Fortune favors the bold, and sometimes the bald.
October 28, 2013, 01:27:46 PM
Well my account has a few oddities that fit the above profile and some other strangeness beyond the extra 200+ btc in my balance. I would happily disclose in private, you may find it helpful. I am sure you guys are swamped but when you get around to it I am happy to go over them with you.
 
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