Included in this update…
Bitcoin Cash Update
Deposits LIVE on both BTC and BCH
ETH withdrawals paid to date
Monero Payments Coming Soon!
DASH wallets removed April 1st
Bitcoin Mining Equipment Delays – Updates!
Bitcoin Cash Update – Some Bugs, Errors, and Delays…
Since switching our entire system over to Bitcoin Cash we’ve had some issues pop up and overall this whole process was more than we expected it to be. But our team is working around the clock through each issue and now all the major functions are stable with just a few small bugs remaining.
One of the biggest issues came from payment detection on BCH invoices. Due to the number of connections we were making to 3rd party block explorers we ended up getting banned from all the major ones very fast because they thought our volume was spam.
To fix this we had to build our own block explorers and we are now running many nodes across the world to make payment detection better in each region. You will see this improve a lot over the next few days/weeks.
The payment delays from this detection caused all kinds of other issues in the level up, binary and it had a waterfall effect on commissions, ranks, and much more.
We also had some issues adding credits into the binary on new placements. The main issue came from old members who were never placed into the binary before the switch happened to BCH. The old members who paid with BTC that were still sitting in the holding tank were not being recognized properly in the system, which caused some errors when they were placed.
There were also some smaller issues with invoices not displaying and certain features not grabbing the correct data from the correct tables (even though the data was correct in our database it was displaying older data from BTC tables).
We are still working through some of this stuff but we wanted to let you know we are aware of all these issues and we are almost finished fixing everything so that we can start adding the cool features next.
Once the system is 100% stable we are going to be adding A LOT of new features that were mentioned in some previous updates. This includes a completely new website with updated content, videos and a better marketing funnel. It also includes new members back office with better stats and tools.
On the admin side, we have a lot of great features that will help our support guys better assist you, pay withdrawals faster, and provide an overall better user experience. All of this stuff has been in the works for months and we are excited to start bringing it online in March.
Stay tuned for some big updates next month.
Deposits LIVE on Both BTC and BCH
We completely changed our deposit system to make it easier to fund your credit wallets. In the past, you needed to generate a new invoice with a unique address for each deposit you wanted to make.
This process was eating up thousands of addresses per day and often times if the exact amount was not paid it would not credit until we manually pushed it.
Now with the new system, you just need to generate an address ONE TIME and this address will be the same for both BTC and BCH blockchains. We were able to generate the exact same address on both chains and then assign them to your account.
This single address will be attached to your account forever and you can send any amount of BTC or BCH to it. No more entering the amount to pay, just send it whenever you want and it will show up after 3 confirmations.
Many members were confused when this went live, they thought it was an error to see the same address for both BTC and BCH but this was done on purpose to make it easy for you. So feel free to start using it!
*NOTE: Right now we have a few bugs on the display side that stem from the payment detection mentioned above so you may see a delay in your tokens being credited. However any amount of BTC or BCH that you send to your address will be credited to your account. Don’t worry its working and you will not lose any coins by sending to your address
ETH Withdrawals – PAID!
We continue to have some issues with our Ethereum withdrawals that have been causing delays in receiving ETH payments. These issues have nothing to do with the scripts or the technical side of the payments, its on the operational side.
For instance this last batch we kept seeing the script fail over and over again when it would find invalid addresses in the queue. To fix this we would have to manually find the invalid address and then queue it back up and run it again.
The problem was if the hot wallet was not funded the queue got bigger and bigger and filled with more bad addresses and it became an issue to process the payments. So this latest batch we had to cancel the queue and pay out everything by hand to get caught up while we made some changes to how we treat bad addresses.
We are happy to announce that everything is now caught up and we think this final change will help ETH withdrawals move much faster now on a rolling basis. Sorry for the delay if you have been waiting awhile for your payments. (if you have an open ticket about not receiving ETH please check to make sure you received the payment and then close your ticket to help limit our customer support, thank you).
Monero Payments Coming Soon…
We just cancelled all of the pending Monero withdrawals and all XMR has been put back into your wallet. We are working on a new system that will include a payment ID in order to track the payments on our side.
The challenge we are having with Monero is actually it’s greatest asset. It’s hard to track payments on the blokchain and it’s hard to deal with lots of transactions without having a fully integrated wallet. So we are working through some things and expect to have a new version up sometime in the next few weeks.
In the mean time all of your XMR is safe if your wallet and will continue to accumulate if you chose to use your GPU shares to mine it. You just cannot withdrawal it until we get the new system in place.
Soon you will be able to swap the payment from XMR to another token and this will be a good side step to get any coins you wish to have.
Dash Wallets will be Removed April 1st
We stopped mining DASH a long time ago when new ASIC’s came out and made GPU mining worthless. If you currently have any DASH in your wallet you must request a withdrawal by April 1st or you will forfeit your tokens.
Not many people have DASH anymore and the highest balance in any single wallet is under 0.1 DASH but if you do have tokens in your wallet please login and request them ASAP before the April 1st deadline.
It’s our hope we can bring Dash back in the future (maybe through a new ASIC mining pool) because we really believe in and support the coin but right now we can no longer support it.
Bitcoin Mining Equipment Delays – Coming Soon!
As you have probably noticed the power in our Bitcoin Mining Pool has not increased during the past few months as we intended. We should have seen over 1,000 PH being powered on but we ran into some delays.
Unfortunately these delays have come from both Bitmain and Bitfury side as we figure out how to move machines out of China and scout new locations to expand our mining operations. Without getting into all the details of these delays we just wanted to let you know there is A LOT of power coming online over the next few months.
We will have equipment deployed in Norway, Canada, Georgia, Iceland, and soon to be Montana (USA).
The Good News… Due to these delays we have been given a large compensation package for the missing power and we are passing this comp to all members in the pool. You will receive a nice one time bump payment on February 28th as we build the comp into each share.
When can we expect power? As of right now here is the new schedule of power coming online.
Current LIVE Power = 480 PH
February 28th: 20 PH
March 10th: 228 PH
March 15th: 30 PH
April 15th: 200 PH
April 30th: 228 PH
May 15th: 250 PH
May 30th: 200 PH
June 15th: 140 PH
June 30th: 100 PH
July 10th: 160 PH
Total PH paid for and not hashing = 1,557 PH
All the above power has already been purchased and it’s currently in the production cycle process with a guaranteed turn on date listed beside it. If these dates are missed or delayed we will get compensated for the delays and of course we will pass any further compensation to all members via the mining pool payments.
We continue to buy even more equipment each month and we believe by the end of the summer our pool will be around 3,000 total PH.
As always we want to say thanks for your patience as we deploy these machines. Right now the market for mining is absolutely crazy because everyone wants in. (or in most cases pretends they are mining). But thanks to our early connections and constant purchasing power we will continue to outpace everyone.
Thanks again for being patient while we deal with the remaining BCH bugs and mining equipment delays. Our vision for 2018 is a big one and we think starting in March you will begin to see it come together.
-BCN Support Team