Sorry about the delay for this post but let me get the story straight on what happened.

I was away since my last post until the 15th of October and before I left I asked a friend to take care of the bitcoin payments while I am gone since I was waiting for the payment from client who were mined for to purchase the coins.

On the 7th Jonathen phoned me and told me that there is no LR payment yet and he cant buy coins to payout to miners, I told him that if its not in tomorrow he should tell me.

On the 8th of October I still didnt receive any payment for the last batch of mining that I planned to pay out to the miners but was reassured that it will be paid before the 15th of October and that it will be for September+October(I have had late payments before from clients so this wasnt new)

I got back on the 15th of October to the following situation:

- My dedicated server is down.
- Email hosted on the server is down.
- I log into my server host control panel and notice that my billing details have been wiped(still dont know why or who could have done this) and the server got cancelled for non-payment.
- Billing for server was due on the 14th of October.
- Ultimately server got wiped and all content of miners/bitcoind related stuff etc.
- I tried to find a backup of the wallet but the only 2 wallet backups that I have doesnt contain any of the transactions of the old wallet so all I can think is that I didnt have a valid backup for that main wallet.

I freaked out just getting back and then all this but atleast I knew I havnt bought coins yet so I logged into libertyreserve and still NO PAYMENT, at this time I didnt know wtf to do which is why I havnt responded here yet.

I tried to get hold of my client for days now with no response, he pretty much vanished.

This is where I am at right now, lost all my own bitcoins to btcst in september + miner coins and this time around trying to make things right with everyone I ended up not getting paid by client(Who I cant get hold of)

I first wanted to figure out whats going on before posting this since I didnt want to bring more bad news but there is simply nothing more I can do to rectify this, the only way to resolve this still is if btcst still end up paying coins back but thats likely a longshot.

I dont know what else to add here, I know some people are highly pissed off at me but ultimately if I could fix this I would but thats just not possible since I dont have the funds to make any of the payments.

Not getting paid and then also getting robbed for the last $$$ I had available put me in a huge hole aswell and since I got back I needed help from a friend since none of this was financially planned and fucked me over bigtime.

There was no intention of me to get in this situation, btcst situation was the only reason I took on the recovery client(I was desperate to make things right for everyone) who I dealt with for most of the year and then this client also fucks me over.

Now whatever people want to think of me is not something I can control, I really didnt want to end up in this situation but thats what happened and I cant change the current outcome.

I made a ton of good friends since joining this forum, alot of them were miners with bonuspool and this ordeal left a huge hole the way it turned out.

This is a really shit situation and ultimately a royal fuckup where the end result is leaving everyone (Including me) out of bitcoins.

All I can do at this point is apologise and sincerely hope people will understand and if possible(I will definitely try) reimburse everyone in the future, there is just no way for me to specify any potential date and disapoint people again.

Again, if pirate@40/btcst can grow a conscience and pay what they owe me through bitcoinmax then I can still 100% fix this situation even though thats not likely. :/

I will check in every other day to see if there is any update regarding BTCST payments. I wont login and respond to personal threats, after all this crap I dont have the energy to deal with death threats or other crazy threats and I will simply forward to the proper authorities.

I tried my best to get everyone to earn more from mining and it went well for the whole year however ultimately this all fell apart and threatening me with no positive outcome is counterproductive.

Just need to note that that updater is slow atm and it may refresh stats showing 0 shares while importing, if you try refresh stats a bit later you will notice it showing shares.

I will have this sorted out on wednesday and until now thought I had it fixed but noticed it slowing down on importing recently.

Payments will be going out sometime between monday and wednesday night, I will be away for 2 weeks, maybe less, but have instructed my friend to handle the payouts and monitor the pool while I am unavailable to keep an eye. When I get back around the 12-13th Oct I will deal with any pool issues that he couldnt deal with in case there is any.

Those of you who notice strange share count from 19th to 25th Sept, I will have a look at the shares for that period and have Jonathan(he will keep an eye on the pool) reset the pool and adjust the shares this coming wednesday to reflect the proper shares in case I notice anything actually being incorrect.

Im still here, havnt gone anywhere.

There just isnt any news other than the end of month is approaching for the first batch of payments as outlined from the start.

Show us your Corporate registration since you self proclaimed the term Corporation next to your name.

If its just added there to sound fancy then no one should/would trust you and it all ends there.

Sorry anyone from India claiming to make "like ~4000 $ per month" and then asking for loan just doesnt make any sense. Why exactly did you make this statement, you do know it kills credibility asking for such a loan ?

$ 4000 a month for most places is a good salary, for india that is Royalty.

Well I had a poke and all those blocks have your coinbase /slush/ in it.

I love this part of the article, "Utilizing the software program Foxit Reader version 4.3.1..."

As if its some special OPS piece of software lol

Going by the following image, we now know his real name is BA ACK , likely from the Borg society.

http://www.wnd.com/files/2012/09/israelianalysisbirthcertificate.jpg

Im completing the contracts to take care of current payments, I just dont know what will happen afterwards.

More hashrate now just means I can get all outstanding done by end of September and not end of October.

All depends on how many users remain at that time. Id like to continue even if the rates need to fluctuate but with the goal of 100%+ PPS for as long as I can get jobs that pays for it.

My plans before this shitstorm hit was to make the new site go live and finally allow users once a day automated withdrawals for starters but we all know what happened then and I had to put a hold on that launch since I need to clear the old payments before migrating to the new system.

Just a short update on progress.

At the current rate if we can get an extra 100GH added today to the pool it should be highly possible to clear all pre-september and September-end of September payments at the end of September, meaning it will be up to date on payments at the end of September speeding up the recovery process.

I hope this is some good news, if some of you could add extra GH to get to about 100GH more on the pool this would be doable cutting all outstanding payouts by a month from the initial repayment plans.

Only update I have however it is atleast more positive and I hope to cut repayments down to end of September rather than the initial end of October.

Just a short update on progress.

At the current rate if we can get an extra 100GH added today to the pool it should be highly possible to clear all pre-september and September-end of September payments at the end of September, meaning it will be up 2 date on payments at the end of September speeding up the recovery process.

I hope this is some good news, if some of you could add extra GH to get to about 100GH more on the pool this would be doable cutting all outstanding payouts by a month from the initial repayment plans.

I cant agree with everyone during this.

You requested withdrawal and few hours later all funds were locked up unable to withdraw from bitcoinmax. At the time you requested I did request large withdrawal but then the BTCST news hit. If you want to see that as unfair then so be it but use your judgement and understand why I couldnt honour it. If I honoured your withdrawal request then Id have to honoured everyone and there isnt enough BTC to go around at the time, do you really think you have more right to your withdrawal request than everyone else ?

You can take it as you want and I tried to explain to you over and over via email but you seem to just ignore what I am telling you.

I cant please everyone during this payment stage and clearly I am not pleasing you but explaining the situation over and over to you and others isnt going to change anything even if I could.

I know im going to take more and more flack from this, some will hate me, some will understand and support me, I cant change what happened.

PS. there is no special powers for locking pool threads, anyone who started a thread can lock it.

I tried to avoid new speculation on the subject since what I stated in the old thread is the only way forward to deal with outstanding payments.

No discussion will make me repay coins faster than what I wrote in the Bonuspool thread and I prefer that if users dont understand the process as outlined in that thread they should rather not signup/mine in the mean time, I dont want to confuse/upset more miners until everything is sorted.

When/if BTCST payout there would be even more BTC and early repayments done, but right now this seems like an uphill battle and I dont rely on this right now.

I do appreciate everyone who is sticking through the this period, once we get to the other side of this ordreal I will see how many users remain and if its still viable to continue at that point.

Id love to know what news he got for the PPT cause he just announced defaulting in irc, fuck knows whats going on. :/

Paybtc have any news on this ?

POOL FUNDS UPDATE AND REIMBURSEMENT PROCESS :

After a week of negotiations surrounding this mess that I am fully to blame for, well aside from the fact BTCST should have paid out by now, I need to breakdown my plans on paying back all outstanding pool earnings.

Right now I still have private contracts to finish which would yield me the final payments on them as soon as they clear, these contracts are due for final payment by the end of September and the final amounts by the end of October which means the following:

1.) In order for me to get the remaining outstanding payments on the contract I need to keep the pool running with miners otherwise its clear that I wouldnt be able to finish these contracts which in return wouldnt pay me the final payments.
2.) All unpaid balances up to 29th of August for each miner will be paid out at total combined unpaid balance + 20% (this is an interest tax I am paying extra which would effectively be covered by my 20% market on sold contracts) and this will be paid out before/on September 30th.
3.) All unpaid balances between 1 September - 31 October will be paid out in full by the end of 31 October and I will be paying out at total unpaid balance + 30% which would effectively clear me out of BTC from contract earnings but also make good in total on all unpaid balances and earn some extra BTC for everyone(especially the users who likely hate me at this point)
4.) On the 31st of October if there is BTC still outstanding I will make good on that by buying the BTC so that everyone will be paid up in full on their past mining.
5.) Until this mess is cleared up by no later than October 31st, the new website is put on hold and if I can still have the trust of miners at that time after they see I made good on my promises I will launch the new website and take things forward from that point on. I have definitely learned out of this process and history wont repeat itself.
6.) At this point I am not making any BTC payouts, I know there is a few with small balances but when I start pick and choosing with not enough BTC at this point to payout to everyone this mess will just get more out of hand. All I can ask of everyone with balances is to remain calm and expect their full earnings paid out no later than the process above.
7.) Starting on the 29th of September I will place all miners on 130% PPS so that their earnings would allready reflect each week what they would receive at the end when I make the payouts.

All details above would be sorted out ahead of time if BTCST funds gets paid out before end of October and if BTCST payout ahead of time I will update the total extra interest to accomodate the earlier payouts but it will be in daily proportions on interest.

The plan above is to ensure that if BTCST doesnt payout before end of October or worst case never pays out then atleast I can get everyone their funds back even though it would cost me alot out of my pockets and all my contract profits in the process.

I accept responsibility for this loss since it was my stupidity which got us in this mess.

Now I need to ask from all miners to help me out at this point so that the pool doesnt grind to a halt and cause potentially even more problems with the above payouts considering it will work out as stated above as long as I can finish the running contracts which wont be a problem as long as miners continue to mine.

If you cant afford to wait such long periods for BTC payments as outlined above I would understand but if you can spare a portion of your regular mining power for the duration of this process it would go a long way to fix this situation.


I know some of you might ask me why cant I pay out the earnings since last friday when BTCST shutdown and the answre to that is actually quite simple, through the year I allways paid from my own personal BTC stash for the duration of contract and replenished my BTC stash as soon as the contracts were fully paid.

While a contract runs I direct my pool traffic to the bitcoind of the buyer so that they can have their clean virgin blocks and the buyer pays me in fiat, partially at the start of the contract and the majority at the end of the contract.

Now obviously I dont have my own BTC stash to make the regular payouts since I moved that to BTCST right before this whole BTCST shutdown occurred which left me dry and BTCless however I do have a good portion of fiat which I would move to buy BTC on the 31st of October for whatever outstanding balance still remains.

I am confident that if miners work together with me during this process they will come ahead with their extra percentages as stated above and I would be able to make good on the outstanding balances.


Id like to keep this thread unlocked but due to all the delays and problems caused by the BTCST shutdown I really dont want a thread full of spam stating the very obvious such as, "How could you be so stupid" etc. , I have outlined my plan of reimbursement and I will stick to that and if miners work together with me on this it would run according to plan and problably even faster.

I really appreciate the fact that a big group of miners have kept their calm through this even though its a difficult situation.

Feel free to get back onto the pool with either your full hashrate or partial hashrate if you are happy with the process outlined above, the more hashing power I have on the pool the sooner I can finish the outstanding contracts.

Email/PM me in the meantime if you wish to talk more about the process, I can unfortunately not change what have happened and the only solution right now is the process outlined above so please when you contact me there is no point asking me for payouts etc. since I will not be able to give you a earlier payout date even if I wanted.

For those of you who want to make use of the higher PPS rates I will be paying you are welcome to signup with the normal details and help out during this process of reimbursement.


Sign-up :                                                

Send me a PM on this forum with the following details : (If you were mining the week before before the changes, you dont need to apply again)

• Subject: Bonus PPS Pool - Public BETA Signup
• Gh: maximum hashrate you would point at Bonuspool.
• Email: so I can email you the pool details.
• BTCwallet: so I can pay you.

I will have a lengthier update on Monday 27th of August. All payouts is still pending until atleast then.

Sorry for this disaster, trying to work through this.

INTEREST ACCOUNTS CLOSING :

Just a heads up on interest accounts closing and the reasons for it :

1.) The current bullish market simply doesnt allow enough flexibility for me right now and most likely into the current foreseeable future to do effective margin trading/scalping on a daily basis and the side effect is slowly churning into my own funds without covering the market spreads.

2.) A small portion of funds I held with BTCST and to counter risk I left the rest in my trading accounts, pirate@40 is ending the BTCST service effective immediately and will have all outstanding payments send out by the 27th of August. As soon as I get my portions out I will be closing out all open interest accounts.

So as it stands I will have all user funds plus proper interest paid out by the 27th of August, the final interest date is for period ending on Wednesday August 22nd and from that date onwards all miner payments will be made to everyone on the regular weekly payout date moving forward.

Only the investment offers close down leaving the regular mining payout details unchanged.

Sorry for the inconvenience, as soon as I find/need investors again I will open interest bearing accounts again.

Right now its mining as usual and nothing changes on that specific front.

I would appreciate everyone understanding this process and that everyone would be paid up in full no later than end of 27th of August on their interest accounts.

As usual I will look at new ways to offer miners of Bonuspool added value as soon as possible.

Any questions please feel free to pm or email me.

Thanks and happy mining.

PS. Locking thread for a few days so everyone can read this.

mtred pays out after 120 confirms, invalid or not. Its pps with the exception you need to wait 120 confirmations.

Someone pulled the plug and the bath water is running out.

Im convinced now Micon is simply Trolling his own thread for higher page rankings.

Everyone with half a brain should just stop posting on this thread to kill its google rankings so that Micon doesnt get his stiff on every day googling himself. Im done posting here, Good day sir.