Status as of Monday, April 4
Posted: Tue Apr 05, 2016 9:08 am
Greetings! Here's a summary of what we've accomplished recently.
- Most of our time for the past 1.5 weeks has been spent on taxes. We'll be publishing a forum post reviewing the process of how we calculated the taxes, but a brief summary is that we had revenues of $180,000 with a loss of around $2,000 in 2015. Now that the business taxes are done, Chris needs to spend this week on personal taxes, which involves hundreds of pages of stock sales, bitcoin sales, and so on. This process involves running queries against terabytes of data. Taxes have required about 40 hours so far, and are expected to delay further development for the next week. Last year, it took about 100 hours to complete the taxes, so completing them in 70 or 80 hours this year would be a significant improvement.
- At the same time, I was able to implement selfish mining. Selfish mining is a way to increase profitability at the expense of other pools. We didn't implement it until now, but decided to do so because Clevermining said that they implemented it. We'll write a post on selfish mining in the coming days once the taxes are done. Expect to see this out in one or two weeks.
- We apologize for an issue that caused earnings and payout problems on Saturday. Since our policy states that we will overpay users in such circumstances, Chris did so and the system should have returned to normal.
- We'll be making a change in how payout proportions are created in the near future. It will no longer be possible to create, or to modify existing, payout proportions when a payout address is not provided for a coin. This change will prevent us from accruing large balances in coins where some users have accidentally forgotten to enter payout addresses.
- Elimination of the "average profitability" chart on the "earnings" page is underway, but probably won't be finished for three weekends.