Reminder about balance resolutions for inactive customers

[Steve Sokolowski]

A month ago, I announced our regular payout of balances owed to customers who haven't mined with us for a very long time. As you may be aware, our documentation states that balances owed to miners who haven't mined with us for over a year will be paid out to the address on file, or they will be forfeit if there is no address. The reason for this is that we slowly accumulate money over time and are always looking for ways to increase security by reducing the amount of money we have on hand.

Chris has finally gotten around to this task and will be executing these payouts tonight. One of the problems we've encountered is that some of these inactive miners have bitcoin balances worth less than $1, and wallets worth less than 50 cents on the bitcoin network are now unspendable because they are worth less than the transaction fees. Unfortunately, that means that anyone who hasn't mined with us for over a year, who has a bitcoin balance, and that balance is less than $1, will lose that money.

If this affects you, you can simply submit a share to move your account off the 1-year inactive list - but unless you plan to mine to get your balances much higher, it is unlikely that given the current blocksize debate you will ever be able to earn enough to outrun the ever-increasing fees. If you are owed more than $1, or if your earnings are in other coins, you will be paid in full tonight. Feel free to respond if you have any questions.

To those mining with us currently, this is another reason to consider litecoins and ETH as primary payout coins. It is possible that in a few months, bitcoin balances less than $2 or even $5 will be "worthless," because it costs more than that to pay them out.