Status as of Thursday, September 21, 2017

[Steve Sokolowski]

Good morning!

• First, Chris determined that share corrections were needed for yesterday and increased profits for all miners by 25%. There is nothing more frustrating than seeing something like this and then having to stop to go to work. I'll investigate why over the weekend.
• We were able to make significant progress last night in addressing the exchange issues that were causing low profitability. First, Chris called Novaexchange and their API came back online. It turns out that their system had been running in a reduced mode because they had too many customers, so registrations were closed and the API was disabled. This is like we were a few weeks back, and like the entire industry is - everyone can just barely stay afloat against the number of new customers flooding in.
• Second, Chris corrected a bug with ccex that had led to ccex being unreliable for pricing. Now, ccex prices and coins will no longer be in error, increasing profits.
• Third, Chris made progress with adding livecoin.net, but hasn't finished that task yet. In all, these three steps seem to have not only restored profitability to "normal" levels, but increased it above what it has been recently.
• Expect some restarts during the weekend to try to figure out what had caused these lost shares after 10 days when they hadn't occurred and get to the bottom of it.

[dog1965]

So all in all is it safe to use autoswitching again ?

[Jalapan]

Is it possible for you to support bleutrade exchange? they usually have some really profitable coins..

[biscayne]

Hi Steve and Chris,
Thanks for the great support.
Just a couple of things that popped up when dealing with the issues of Novaexhange API.
What can be done to get red of the dependancy of this API and in general of Bitconnectcoin?
I always try to get rid of single points of failure in my life and it appears to me that PH has multiple single points of failure that need to be taken care of.
What will happen when Bitconnectcoin changes to POS?
Just wanted to share my concern.
Thanks,
Perry

[Bitatlas]

Steve and Chris, you are 5 STARS!!!

[Steve Sokolowski]

Hi Steve and Chris,
Thanks for the great support.
Just a couple of things that popped up when dealing with the issues of Novaexhange API.
What can be done to get red of the dependancy of this API and in general of Bitconnectcoin?
I always try to get rid of single points of failure in my life and it appears to me that PH has multiple single points of failure that need to be taken care of.
What will happen when Bitconnectcoin changes to POS?
Just wanted to share my concern.
Thanks,
Perry

When Bitconnectcoin goes POS, that will probably cut the profitability of scrypt across the board by half. That was already assumed in our profit projections, which is why I estimate 0.1-0.5 cents for scrypt in January.

Novaexchange is the only exchange that offers that coin, which is surprising because at times it's the most difficult scrypt coin, and the official exchange has no API, so there isn't much we can do when they go offline, unfortunately.

[biscayne]

Thanks Steve, I really appreciate your swift reply and open communication!
Thanks again.

[Kfedorek]

Hopefully some new scrypt coin comes out haha. Maybe we can create one lolol

[vinylwasp]

Hi Steve and Chris,
What will happen when Bitconnectcoin changes to POS?
Just wanted to share my concern.
Thanks,
Perry

When Bitconnectcoin goes POS, that will probably cut the profitability of scrypt across the board by half. That was already assumed in our profit projections, which is why I estimate 0.1-0.5 cents for scrypt in January.

Steve, you've mentioned this a few times so I'd like to understand this a little better.

First of all, Bitconnectcoin is already a dual mined coin, it's both POS and POW: https://bitconnectcoin.co/#Mining.
You can stake now if you want to: https://bitconnectcoin.co/guide/8/How-T ... in-holding

And as far as I can see in their roadmap and site etc, there is no future plan to move to POS only: https://bitconnectcoin.co/roadmap

If you have some insider information that clearly outlines a plan to remove POW can you share that with the rest of us please?

[Steve Sokolowski]

I thought that the proof-of-work period ended in five months. Is that not true?

But even if Bitconnectcoin stays profitable, it's a sad fact for miners coming online now that the best they can probably hope for is one cent, in the best-case scenario. The last generation of miners was running at 2 cents before this bubble.