What has happened to the Mine?

At the end of the day on 9-4 during shift 19644 the hash power being reported on btc guild user 522067 dropped to 246th
https://www.btcguild.com/index.php?page=pplns&shift=19644

Right around that time there was abnormal payout to the pico stocks dividend account of 0.00001122 btc per share.

1367215   100th   0.01904034   dividend per share 0.00001122

From that point forward the mine has been running at only 76th

Looking for an update please.

Tytus,

something is wrong pico site No payouts or trades since 7-22 also when logging in it does not send the arming Email I have tried it on Chrome and Explorer with no success. Can anyone else log in and arm their session?   

Dave/Tytus,

It looks like the 5BTC payouts have been continuing to send however they have not credited our Dividend accounts since 7-22. As of right now there appears to be 8 payouts that have not credited us what is going on??? https://blockchain.info/address/1LyZ2QJDJDJ7Mf8caQb2uRLgBVqBF9GvH4 . Please look into this ASAP!!!

I completely agree with you the manner in which this was switched over has been unprofessional. Hopefully a status report will be posted soon some transparency would be much appreciated.

How do you know that 431474 is 500th's user id? If you look at the Btcguild rankings page user 431474 is https://www.btcguild.com/index.php?page=rankings

User 431474 is #1 in fastest user at 640,343.36 GH/s
User 431474 is #2 All time shares at 391,153,617,664
User 431474 shows 299 blocks found so far

None of that makes any sense especially the all time shares and 299 blocks found we have only been running on there for a few days.  Please let me know how you know that user 431474 is the 500th mine.

Dave,

Thank You for joining a pool for more regular payouts.  I had suggested this a while back and it seems like the only way to go if we were not going to add any more power to the rigs.  Can we please have some info about this new pool. I have looked at their mining wallet 14cZMQk89mRYQkDEj8Rn25AnGoBi5H6uer  and it looks like the pool has mined over 30 blocks today 3-17-2014. However we have only so far received 8 payouts today 3-17-2014. Is the 500th mine doing work on all the blocks? If so why did we not receive over 30 payouts corresponding to the number of blocks that were mined. Why are the payouts always exactly 8BTC > 0.00001512BTC/share? Why do they not vary according to the amount of work 500th is preforming? Can the Shareholders please have an update ether here in the forum or write Report and post it on the picostocks site. I have noticed the share price drop since the implement of this pooled mining. This is clearly panic selling because it looks like this pool is going to actually bring in more BTC then the mine could possibly make on its own in the current difficulty level. It takes just over 3 payouts at the current rate to equal the same block payout that we are used to.  In the 3 days we have been on the pool we have averaged 6 payouts per day right around the equivalent of mining 2 blocks per day on our own.  A report would really help relive the anxiety the share holders.

Looks like more bad luck only 1 block found in the last 23 hours. I don't think it has anything to do with luck in the last 24 hours the total mining hash rate has gone up 2508TH. Just in the month of January the total mining hash rate has gone up 10,000TH that is double of what it was Dec 31st.
https://blockchain.info/charts/hash-rate?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
At the next difficulty level the 500TH mine will be lucky to mine one block per day. So nothing to do with Luck it has everything to do with competition.  Yes you returned the investment of the original share holders and I think that is great However right now if you are not willing to add more Mining power or Join a pool soon this stock will be worthless because there will be no more dividend payments. There are plenty of shareholders that have purchased stocks and not seen a return on their investment. In fact of the 1071 shareholders on pico stocks only 81 have turned a profit of more then 1 BTC according to the user page sorted by. profit.https://picostocks.com/users/index/page:1/sort:profit/direction:desc 
That means only 7.5% of your investors have gotten their original investment capitol back. 
This "private pool" how large will it be hopefully somewhere around 2500TH.  Dave can you please provide a timeline to investors who are still currently holding on to their stocks and sweating bullets. Before the stock price drops to nothing.

fractal02 you were spot on look how the share price has dropped today all the way down to 0.015000

Actually you have to look at the Mining Wallets to see the Mining activity Good news is that there was 125 Btc mined 5 blocks In one day That is good news for share holders. I think Dave and Titus are doing a great job of keeping the mine over 500TH I just wish that they would weigh in on the future plans.


From what I can tell there are 2 Mining wallets currently in use. MvDJ is the new one and hv7G looks like it is getting phased out. Looking at the activity a Mining wallet is only used for about 10 days. Then a new one is created this is for security reasons as far as I can tell.

1FfYQPrN8NUhiuwWpqRTw3zrofkLi9MvDJ  and 1HmCtCgZhae2A8mosKNLfpzbFtpaGEhv7G

I do not think anyone took a day off if you check http://150.254.111.246/us/ you can see the mine is up and running at 500TH.  The problem is this https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address= the increased difficulty caused by so many miners coming online. The difficulty is in place to make sure that blocks are found on average every 10 min. As more mines come online the difficulty must increase or the blocks would be found at a much faster rate. In order for the mine to remain profitable it must grow larger or join another mining pool that is solving blocks on a regular basis. The problem with that is the block solved is shared across the entire pool and it would result in a much lower dividend but at least it would be something. If 500TH which is only 2.9% of the current total hashing is not able to solve at least 4 blocks per day then there in lies the problem.  However when it reaches a point that mining is no longer profitable for someone to purchase there own equipment and join a pool. The hash rate should flatten even drop off causing difficulty to drop. Until that happens it would be a good solution to join a pool that is running somewhere around 2000TH the dividends would be cut down to 20% of what they currently are however if a 2500TH (which would be 14% of the current total hash power) could solve 14% of the daily blocks which would be 20 blocks daily then the 500th's daily share would be 4 blocks or 100 Btc. That would keep daily dividend payments per share at what we saw the last 2 days 1-27, 1-28  0.00018976 btc/share/day. Solution #2 figure out exactly how much $ it will cost to add an additional TH to the mine looking at Dave's website retail that is about $13 per GH I which is .01625 btc per GH however actual cost must be lower. At the current share price if pico stocks was to double the stocks to add an additional 518271 shares and sell them at the current .025 Btc/ share it seems like it would be enough to bring the mine up to 1500TH maybe even 2000TH. This would not affect dividend payments as soon as all the GH was brought online because of the additional blocks daily the mine would be solving the daily dividend per share would remain close to the same.  I don't know Dave's actual costs but as a shareholder I am asking that a Goal be set in place to keep this mine profitable.  I like option #1 better myself because we would see instant results vs having to wait out more construction. Or maybe we do both and pull out of the pool when our additional TH is sufficient to run on our own again.  I think maybe a shareholder vote could be setup on the picostocks site. Dave , Titus please let us know what you think. Is there a plan? 

PS. I just checked we just mined one block while I was typing this. ea895998e4c7e8632371388024b724f96e58caac472537f489bec0ab25c001d0 1 in the last 24 hours is not going to work.

Buzzdave,

In regards to your statement on Dec 17 when the mine hit 500gh you said shareholders could expect improved stats. Is only partially true yes the stats at that point were better then what they were in the past but due to increasing hash power across all mining the stats have actually gone down. The only solution is to increase the Hash power of the mine monthly to keep up with the increased difficulty level.

using the mining data found https://picostocks.com/stocks/bitcoins/19/page:1  the following numbers were generated.

Dec total mining was 6533.83116042 BTC which is an awesome 210.76874711 Btc/day.  Meaning 0.00040667 Btc/share/Day Nice

However Jan so far has decreased in stats.

Jan total mining to today's date 1-24 was 3408.18260180 which is 142.00760840 Btc/day Meaning 0.00027400 Btc/share/Day a drop of 32.62%

So my biggest question as a potential investor is Will you increase TH power as difficulty increases in order  to maintain your Btc/share payments around the 0.0003 Btc/share/day?

If so I am sold sign me up. Thank You.