Author Topic: MineBitshares/Bunkermining - Shutting Down  (Read 1299 times)

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Offline BunkerChainLabs-com

MineBitshares/Bunkermining - Shutting Down
« on: April 24, 2016, 01:06:53 am »
TL;DR: In 72hrs the mining pool will be shutdown. Please direct your hashing power elsewhere.

Hello Bitshares Miners,

Many of you who are mining today were mining last year when this project was handed over to us by [member=8446]nethyb[/member] who originally started it.

It was over a year ago we took it over and since then we attempted to get updates done and carry through the plan that was set out back then.

We hired developers back in August who were supposed to deliver the updated pool in September only to this day still not have executed fully on what they were paid to do. No need to go into what happened again as seen in the Emergency Measures thread. We also saw how things turned out with Sharebit with the same devs. They have since moved on to other things and no longer associate with this communicate any longer.

Regardless of this over the course that time period we did manage to produce several thousand dollars in liquidity ongoing for BTS as well as the bitUSD market month to month. Unfortunately I don't think the transactions that were generated amounted to as much as was put in through the delegate pay from last year. Most of what was brought in though last year delegate pay went towards repaying everyone that supported the registration of the delegates, which were all paid in full.

Other factors that impacted the mining pool was the closing of cryptsy took out some of our more profitable coins. Following that we never were able to find the right coins out of bittrex or polonix to compete on profitability over other pools. Overall also it is becoming increasingly more difficult to find POW coins as more and more are moving to POS.

When I first took over the pool I really had to be creative to come up with a profit path for the pool and was willing to take losses to see it through. With the way things turned out between how development went to the changing factors in the market over the last year, it is increasingly difficult to see how operating this pool will become profitable or even break even for me or anybody else.

At this point I would recommend current miners to point your hashing power to Nicehash if you would like to see increased profits from your mining. You will get BTC, and can just as easily use blocktrades or metatrades to send that BTC to your BTS account.

Thanks to all those miners who helped us test over the past few months with what we had that never managed to make it to production.
« Last Edit: April 24, 2016, 05:53:23 am by BunkerChain Labs »
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Offline Tuck Fheman

Re: MineBitshares/Bunkermining - Shutting Down
« Reply #1 on: April 24, 2016, 05:48:24 am »
We hired developers back in August who were supposed to deliver the updated pool in September only to this day still not have executed fully on what they were paid to do. No need to go into what happened again as seen in the Emergency Measures thread. We also saw how things turned out with Sharebit with the same devs. They have since moved on to other things and no longer associate with this communicate any longer.

Who could have seen that coming.  ::)
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Offline fav

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Re: MineBitshares/Bunkermining - Shutting Down
« Reply #2 on: April 24, 2016, 06:44:46 am »
Sad to see it go, but there were a lot of warning signs
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Offline CalabiYau

Re: MineBitshares/Bunkermining - Shutting Down
« Reply #3 on: April 24, 2016, 06:49:09 am »
Anyway, thank you for your efforts.

Offline xeroc

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Re: MineBitshares/Bunkermining - Shutting Down
« Reply #4 on: April 25, 2016, 07:09:46 am »
Not that I cared much about mining, but its bad to see this shut down
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Offline infovortice2013

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Re: MineBitshares/Bunkermining - Shutting Down
« Reply #5 on: April 27, 2016, 09:30:25 am »


New Keyoteeid: 5rUhuLCDWUA2FStkKVRTWYEqY1mZhwpfVdRmYEvMRFRD1bqYAL
new08/21 id 5Sjf3LMuYPSeNnjLYXmAoHj5Z6TPCmwmfXD6XwDmg27dwfQ

Offline oakmaster

Re: MineBitshares/Bunkermining - Shutting Down
« Reply #6 on: May 02, 2016, 02:07:30 am »
Sad to see it go I've been mining here for a year or better

Offline santaclause102

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Re: MineBitshares/Bunkermining - Shutting Down
« Reply #7 on: January 16, 2017, 10:58:21 pm »
[member=19864]BunkerChain Labs[/member] can you clarify what happened to all the funds from that worker that were not utilized for the purpose of the worker?
http://cryptofresh.com/u/bunkermining for example still has 1k usd worth of bts
« Last Edit: January 16, 2017, 11:01:56 pm by santaclause102 »