StakeMiners.com

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www.stakeminers.com, is a multicoin Proof of Stake Mining pool. You deposit your altcoins to be staked with us, or you can exchange your coins for one we stake and genera

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StakeMiners.com

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StakeMiners.com

March 9, 2016 6:33 pm

Stakeminers - This Week - 07 March 2016 >The Future of PoS Mining< ============================================== Welcome as we finish our 1st year in business! ... View MoreStakeminers - This Week - 07 March 2016 >The Future of PoS Mining< ============================================== Welcome as we finish our 1st year in business! - Minimum deposit is 0.05 BTC. - Invested BTC 120 / Current Value 31 BTC = Diff -74% - Earnings rose a fraction to 0.52% from 0.51% last week. - Withdrawals: partial 4 = 7.64 BTC, full 7 = 9.85 BTC The Year In Review Stakeminers has completed it's first year in business. The year started as planned with rising altcoin values which propelled earnings to almost the 2% per week range. But things changed quickly after July when a 35 BTC withdrawal took almost 30% out of the stake pool and earnings fell. As the stake pool fund regained lost ground the price of bitcoin rose through the fall putting strong downward pressure on altcoin values. But the topper was the collapse of Cryptsy. With rampamt arbitrage actions by traders desperate to get their coins out of Cryptsy altcoin prices went into freefall and by year end altcoins values with down over 70% from mid-year highs. The impact on earnings was obvious as we dropped to the 0.5% per week level. Altcoin values remain depressed. What have we learned - a lot! We implemented new policies to control principal withdrawals in order to protect the stakepool, we increased the minimum to reduce workload associated with small accounts which were not increasing the stakepool size, we set up a bitcoin contingency fund from which to pay out principal withddrawals, and we capped the weekly principal withdrawal to the amount of earning the contingency fund could generate each week so we are not drawing down the stake pool. Capitalization, we realized late into last year that we were under capitalized and this had two impacts: one we could not pay out principal payments in full as they were requested and second, we did not have the funds to make strong altcoin buys at the current lows. Stakeminers is working to increase its capital reserves this year. Altcoins, we continue to reposition our altcoin holdings in order to improve earnings. Yet there is difficulty in finding altcoins with a committed developer that have a strong community which also will generate earnings to meet our needs. As well we have dropped some coins whose weak performance and support through the crisis did not meet expectations. Earnings, we have heard from many of our clients about the decline in earnings and improving earnings does continue to be our focus. Some of you have told us you are in favour of dropping principal withdrawals given the past impacts on your earnings. At the moment we believe our contingency fund/withdrawal cap process meet both groups interests. If we eliminate principal withdrawal then we shift to a 'Return on Investment' (ROI). Given our current 0.5% per week, that puts your ROI at 3.8 years, a longer time frame than would be comfortable for most investors. In closing it was a much more difficult year than expected. On behalf of the Founders and Board a big thank you to our clients for your support and understanding during the past year. ------------------------------------------------- Stakeminers.com is a crypto-currency altcoin Proof of Stake (POS) company with current holdings in 10 altcoins. We provide our clients with a variable rate of return generated from our stake pool earnings. Please see our website Stakeminers.com or email us at: info (at) stakeminers.com for more information. Visit us on Facebook: https://www.facebook.com/StakeMinerscom-1627849564105692/

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