Frequently Asked Questions

How are rewards calculated?

Each block found completes a round. Your Share Percentage in a round will determine your reward. Example (Block Value - Pool Fees) * (Your Shares Percentage) equals coin amount payed out.

What is the Immature balance?

BTCZ from a new block found requires 100 confirmations to become mature. In other words to be usable by our wallet. During this period, your reward is unconfirmed.

What is the timeframe for sending a payout of a confirmed balance ?

We process payouts every time a block hits 100 confirmations. Then we shield the coins which takes 10 confimrations in a seperate address. You will receive your payout as soon as you have a balance greater than 0.001 BTCZ or your minimum threshold.

Is there a payout fee?

No, fees are paid by the pool.

Why is the Sol/s speed on the pool not always the same as in my mining software?

The pool evaluates your hashrate according to the received shares.

What is a Miner?

Miner is the sum of all your workers. In our pool this is represented by your wallet address.

What is a Worker?

Worker is a name for your mining device.

What is a share?

Share is a unit which pool uses for computing mining work. When a miner connects to the pool it receives computational task to be solved. Hashes satisfying the requirements are sent back to the pool and are used as a proof of miner's work. The quantity of miner's work is registered in units called shares.

What is the Block Height?

The height of a block is the number of blocks in the chain between it and the genesis block. The genesis block has height 0.

What is the Difficulty?

Difficulty is a measure of how difficult it is to find a hash below a given target. The BitcoinZ network adjusts its difficulty according to the global network hashrate.

What is the Round progress?

The progress of the round starts again as soon as we find a block. Depending on the difficulty of the blocks we can estimate the time needed to find our next block. Luck can help us find it faster or slower.

What is the formula for calculating the Blocks / Days ?

Depending on the difficulty of the blocks and the power of the pool we can estimate the number of blocks we will find per day.

What is an orphan block?

This happens when 2 pools find a block at the same time. The first block to propagate correctly on the network will be considered correct.

What is the luck?

PoW makes the block discovery random. This explains that our pool can find more or less blocks in the same timeframe. We call it luck. Over a long period, luck is very close to Block / Days.

Terms of Service

In using this website you are deemed to have read and agreed to the following terms and conditions.
The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: "Miner", “You” and “Your” refers to you, the person accessing this website and accepting the pool’s terms and conditions. "The Pool", “Ourselves”, “We” and "Us", refers to the mining pool service. Any use of the above terminology or other words in the singular, plural, capitalisation and/or he/she or they, are taken as interchangeable and therefore as referring to same.

Disclaimer - Exclusions and Limitations
The information on this web site is provided on an "as is" basis. To the fullest extent permitted by law, this Pool: excludes all representations and warranties relating to this website and its contents or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in this website and/or the Pool’s literature; and excludes all liability for damages arising out of or in connection with your use of this web site. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised the Pool of the possibility of such potential loss), damage caused to your computer, computer software, systems and programs and the data thereon or any other direct or indirect, consequential and incidental damages.

Log Files
We use IP addresses to analyse trends, administer the site, track user actions, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Additionally, for systems administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times/open mail, URL requested, and referral URL. This information is not shared with third parties and is used only within this Pool on a need-to-know basis. Any individually identifiable information related to this data will never be used in any way different to that stated above without your explicit permission.

Transaction Fees and Payouts
Pool fee is 0% (calculated from block reward and transaction fees). Donation fee to Bitcoinz community is 1.0%. Fees from bitcoinz transactions are paid to miners that use Stratum interface. Orphaned (invalid) blocks are not paid. It helps to keep pool fee low. Pool is not an e-wallet or a bitcoinz bank. We are not responsible for loss of your bitcoins which are stored in the pool account. All your mined coins have to be regularly paid out to your secured wallet. Account Usage, Precautions for Botnets Botnets aren't welcome. Account with large amount of miners which are using different IPs may be disabled without previous warning. Please move your zombies elsewhere. More accounts which are controlled by one person may be considered as a botnet. Accounts which are inactive for longer than a year (no mining activity) may be deleted after 30 days (30 days, 10 days and one day before deletion). Remaining bitcoin balance will be considered as a pool donation.

Notification of Changes
GeekHash Pool reserves the right to change these conditions from time to time as it sees fit and your continued use of the site will signify your acceptance of any adjustment to these terms. If there are any changes to our privacy policy, we will announce that these changes have been made on our home page and on other key pages on our site. You are therefore advised to re-read this statement on a regular basis

These terms and conditions form part of the Agreement between the Miner and ourselves. Your accessing of this website and/or undertaking of a mining indicates your understanding, agreement to and acceptance, of the Disclaimer Notice and the full Terms and Conditions contained herein.