Poolwarz shutting down


#1

I logged in to check my account tonight and saw this message:

Shutting Down
Starting 2/14/2015 we will begin a systematic shutdown of our mining pools. All SHA-256 pools and some scrypt pools will be turned off on 2/14/2015. The remining scrypt pools will be shut down 2/18/2015. All balances will need to be withdrawn before 2/28/2015.

We thank you all for your support of our service and wish you all the best of luck in your future mining.


#2

Many pools and services are shutting down with the low BTC value that is for sure.


#3

That is sad I used them a lot.


#4

A shame really since 1 BTC is always 1 BTC. The whole “mining is not profitable” with owned hardware has a major flaw in the calculation imho. The mining might not be profitable at “that precise moment in time” due to Bitcoins value but block rewards and difficulty are still the same and reward the same amount of coins. It (should) really only affect people that need to “instantly” cash out for fiat.

The pools and other operators having to shut down is a different story. It seems they simply can’t afford to keep their pools or platforms online for 1-2 months when times are rough which somehow reflects that they are also constantly cashing out to fiat or they would have the resources to simply keep their sites online.


#5

The total hashrate was always low at poolwarz. I used it mainly for solo mining some low diff coins. Their closed beta took too long and when they opened to the public their main feature the autoswitching was only available for paying members and the implementation of that sucked it forced the client to reconnect to another stratum instead of the main stratum switching the connection itself. This lead to broken connections that you could not recover from.