Triplemining is closingTriplemining has found its last 2 blocks ever: block 352791 and block 352799
Bitcoin mining is a lottery to find a block. The chance of finding a block is so small that it is nearly impossible to find a block nowadays, that's why pools have been created to allow people to join forces so blocks can be found even when one's own mining power is small. Triplemining has been very successful at that by finding more then 500 blocks on the bitcoin network. We've managed to be a stable and reliable pool for almost 4 years.
While the total hashrate of our pool has been rising during the entire lifetime of our pool, we have been troubled with the issue that our relative hashrate of our pool compared to the entire network has been decreasing for some time now. Every day there are about 144 blocks to divide between all miners on the bitcoin network, divided by all miners and pools, and only the relative mining power is of importance. This mechanism caused the chance for Triplemining to find blocks to continue to decrease. A situation which is very difficult to escape from, as people tend not to join pools that are too small.
Triplemining is a very unique pool, we've been the first to introduce teams in our pool (copied by many other pools) and we're proud to tell that our unique way of storing all shares information on multiple servers has caused us not to lose a single share. In terms of security, test driven programming and careful operations, we never had a single satoshi lost due our own fault or due to hacks.
However, these systems cost a lot of money. Keeping all shares on multiple severs, a separated hot wallet server, statistics server and a webserver causes us to end up with a hefty bill to keep the pool operational. The pool also required time for maintenance, development and support. As the pool was not finding many blocks with no hope on any improvement in the foreseeable future, it just is no longer viable for us to keep our pool operational. Therefore we decided to close our pool.
As our pool uses PPLNS, there is no graceful way to shut it down. Any early warning of our pool shutting down, would cause miners to flee from our pool, which would reduce any chance of finding a block in the future, causing a cascade effect. The only fair way to shut our pool down is to shut down our mining backend, which is what we've done. Our apologies for the inconvenience, but you should have had backup pool configured.
Everyone with a balance over 0.001 will be able to cash out from our pool. Please login by selecting Last Payout administration to confirm your bitcoin address to get your final payout.
Our pool will fully close July 1, 2015. After this time, the website will go dark, the payouts will be final, and the databases will be deleted.
We would like to thank everyone for using our pool and believing in us.