The journey is coming to an end.
When ABCPool started out in 2011, we became the first share reseller of our kind. ABCPool pioneered the idea of converting the contract for a share from variable-reward to fixed-reward and reselling it like that.
The idea proved successful, miners liked the low risk and low fees which caused ABCPool to quickly grow to a significant share of the mining market.
Bitcoin is still in its infancy, and is evolving quickly. With the arrival of Stratum mining, part of the underlying technology for ABCPool became obsolete. As we expected, pool hash rate has been dwindling ever since.
After two years, we are now at the point that ABCPool in its current incarnation has to close its doors.
The newly arrived FPGA and ASIC miners have diluted turnaround per GHash, and are pushing networking costs up. Hosting costs have become too high to justify keeping the service available, even if we’d increase fees.
We’d like to thank everyone who mined with us throughout the years, and everyone who has contributed their feedback on our forum. You guys made running the pool a great experience, thank you for that!This Monday (August 5 2013) we will be shutting down the getwork server. Our website will stay up all through august for people to withdraw any leftover earnings.
Any balances remaining after that will be treated as donations to cover the losses of the past months. We have also updated our Terms of Service
It’s not unthinkable that ABCPool will be making a comeback in some other form. Don’t hold your breath, but do send us a PM if you’d like to be kept in the loop.
As always, Happy Hashing,
Chlorine & MintCondition