Payout took a dive

[Hashing Tortoise]

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?

[Chris Sokolowski]

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]

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.

[Hashing Tortoise]

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.