Course of Action
Published at Jan 27, 2015 9:52:01 PM
A'Hoy Miners,
While it may not seem like much is occurring on the outside, rest assured that our developers are hard at work behind the scenes. As we progress further into the new year of 2015, we are beginning to solidify our plans for expansion. In this post, we want to share both our current and future plans.
Increase Mining Capacity
Similar to most markets, cryptocurrency mining is extremely competitive and aggressive expansion is the only way to remain relevant. In the coming months, we will be implementing some changes designed to grow the pool's capacity and fuel development.
At some point in the future, the base pricing for contracts will be increased. This will enable us to prioritize our larger users and focus on expansion. Furthermore, we are working with our partners in China to allocate an additional 50 Gh/s of hashing power to our pool on a monthly basis. With this kind of growth, we expect to easily remain competitive and profitable.
Payment Timeframe
In response to the large number of support tickets we have been receiving, we wanted to broadly address the most common questions and concerns regarding payment withdrawals.
To begin, we will offer some insight into our procedure for processing payouts. Payments are filtering and prioritized according to the frequency of requests from that particular user. For example, users with less frequent requests will receive priority over users with frequent requests. This was implemented to prevent those already in the queue from waiting to receive any previous withdrawal requests. In other words, a 300€ balance divided into six 50€ withdrawals will be processed faster than thirty separate 10€ withdrawals.
Any unprocessed transactions will be returned back to the user's account balance to accumulate. Users are welcome to place another withdrawal request at their convenience. Using the methods described above, we expect the system to resolve itself soon and once again process payouts smoothly.
Personal Support
As usual, we are aware of the inconvenience and frustration this may cause to some users. Given the recent market instability, we are doing our best to restore service and have bright plans for the future. In the mean time, we will be making efforts to communicate more frequently with the community. Users can expect daily updates and even phone support in the near future.
We have also received confirmation from CryptoPay regarding our monthly limits and expect to have a definitive answer soon. In the mean time, our weekly transaction volume will be limited to 100,000€.
We thank you for your continued support.
Warmest Regards,
CoIntellect Staff
