Status as of Friday, April 14, 2017

[Steve Sokolowski]

Good morning! A brief update:

• We discovered an issue that was causing some of the slowdowns with the website. It turns out that the "hashrate distribution" chart, which queried recent shares, was taking several minutes per query and backing up the database. We modified the query to only look back for one minute for the "5 minute" chart for now, which makes it inaccurate, but the system slowdown is fixed. This chart has been removed in the x11 version of the site, because it isn't very meaningful anymore with real-time data being available.
• Chris is running up against a $15k withdrawal limit at Novaexchange. For now, it only means that our own profit is "stuck" in the exchange, and we can't withdrawal it until Novaexchange's sell prices fall below those at some other exchange and we sell fewer mined coins there. Daily customer payouts from that exchange remain below the $15k threshold. Chris has applied for an increase in withdrawal limits to prevent the possibility of having to decrease profitability due to having to leave Novaexchange. We don't expect the increase request to be denied and we will keep people informed of any changes if it is.
• Chris finished the Federal and state taxes for last year, but still has local taxes, estimated taxes, and two years of corrections to finish. He's on course to get all that done by today so that we can move on. Thanks for your patience while we remain a legal and reputable business.
• x11 mining is on track for a Sunday release, as planned. Expect an initial hour of downtime, and then we may need to restart the server several times later in the day to fix bugs that didn't appear during testing.
• The transaction fee for bitcoin payouts is approaching $4. To keep us below our target of 0.5%, it's likely we'll have to increase the free bitcoin payout threshold to $30 or $40 next week. We'll announce in the "News" forum when this happens. Thresholds for other coins will remain at $1.