LTCGear December 19th Payout : 134.64176218 LTC or $370.26. A Few Alarming Signs at LTCGear.
December 22nd 2014 Payout from LTCGear for 10,800 ASIC Shares (1,080 MH/s) was 134.64176218 LTC or $370.26.
December 22nd 2014 payout from LTCGear was 134.64176218 LTC.
The payout was delayed from the original date of December 19th to 20th in the first announcement, but it ended up arriving 3 days late on December 22nd.
Using today's (December 26th 2014) exchange rate from BTC-e.com of 1LTC=$2.75, this week's payout was $370.26.
We apologize for the delayed update - it was Xmas time, and it's been difficult to find the time and the internet connection to make updates to this blog.
Schedule December 24th Share Multiplication Delayed, Our 2nd Gen Payout Missing, Site Migrated to New Server, Some Users Also Reporting Missing Payouts at LTCGear...a Few Alarming Signs
We've noticed a few alarming signs at LTCGear recently.
First of all, December 24th 2014 share multiplication has been delayed with no updates. It is currently December 26th, but there has been no update on this issue for the past 2 days.
It's Christmas time, but a short update would have been helpful. We were looking forward to the share multiplication event on December 24th as our payouts were rapidly declining due to rising levels of difficulty.
Secondly, we haven't received our December 19th payout for our '2nd Gen - 20 units' which we purchased in December 2014.
While payout amount for '2nd Gens' is small, with the most recent payout being 1.58954752 LTC on December 12th 2014, it's worrying that payout is more than 1 week late.
We have been exposed to 1-2 days of payout delays from LTCGear in the past and have become used to small delays, but this is the longest delay we have experienced to date.
LTCGear has also recently migrated their servers for security reasons.
The server migration alone would have been understandable, but combined with our missing payout for 2nd Gens, and many other users reporting missing payouts from December 12th payout as well as December 19th payout (2 weeks' worth of payouts), our concern is only heightened.
LTCGear May Pick Up Where It Left Off...but It May Not
LTCGear may pickup where it left off in the near future, but then again, it may not.
We're certainly hoping LTCGear will resume weekly payouts on time again, but we also know from common sense that major delays in payouts could very well be signs of a failing service.
Only time will tell, but if you were preparing to order from LTCGear, it may be wise to wait until weekly payouts go back to normal (if they do).