Payout took a dive

Read about Prohashing, mining, and coins in general!
Forum rules
Sign up to be notified of new posts to the Prohashing Blog at http://eepurl.com/gx1e0j
Post Reply
Hashing Tortoise
Posts: 12
Joined: Wed Jan 06, 2016 12:09 pm

Payout took a dive

Post by Hashing Tortoise » Sun Jan 17, 2016 5:39 pm

A week ago the payout was 3.95 per mhs. That was enough to justify an entertainment value, just a bit below electricity cost. Today it's 3.04, other pools are paying less, some much much less. Does anyone have a link that explains what is going on and when/if I can turn my stuff back on?
Remember the Tortoise and the Hare? You don't have to be the fastest hasher. Perseverance pays off.
User avatar
Chris Sokolowski
Site Admin
Posts: 933
Joined: Wed Aug 27, 2014 12:47 pm
Location: State College, PA

Re: Payout took a dive

Post by Chris Sokolowski » Sun Jan 17, 2016 11:11 pm

The main reason for the dive is the drop in Bitcoin price and the price of other cryptocurrencies. If you look at some of the blog posts Steve has made, it will provide more detail on the issues. The drop is due to three pieces of bad news over the past few days:

[*]Mike Hearn, a core Bitcoin developer, left Bitcoin declaring it a failure.
[*]Bitcoin Classic, a fork of Bitcoin with a one-time increase in block size, was announced and is gaining support, increasing uncertainty about Bitcoin's future.
[*]Cryptsy failed, announcing someone had stolen about $6 million in assets, shaking investors' confidence and leaving many altcoins without a market.

I don't know when the price would recover. As Steve had said, uncertainty over Bitcoin's future is the main reason its price remains low. If a clear roadmap for Bitcoin's future is agreed upon and deployed, then perhaps prices will rise again.
Hashing Tortoise
Posts: 12
Joined: Wed Jan 06, 2016 12:09 pm

Re: Payout took a dive

Post by Hashing Tortoise » Mon Jan 18, 2016 12:28 am

You say Steve as if everyone knows this guy. I would be more than happy to read up if I knew who you were taking about.
Remember the Tortoise and the Hare? You don't have to be the fastest hasher. Perseverance pays off.
Hashing Tortoise
Posts: 12
Joined: Wed Jan 06, 2016 12:09 pm

Re: Payout took a dive

Post by Hashing Tortoise » Mon Jan 18, 2016 12:45 am

Oh goosh, you may be taking about your brother. Clueless newbie here. want to turn my stuff back on , buty not sure when it reaches value.
Remember the Tortoise and the Hare? You don't have to be the fastest hasher. Perseverance pays off.
Post Reply