Topic: [1500 TH] p2pool: Decentralized, DoS-resistant, Hop-Proof pool - page 289. (Read 2591971 times)

Yea, I asked about it in their announcement thread, that 4PH will basically annihilate many p2poolers if they have not come up with some radical change to how p2pool calculates/makes payments.

I'll suggest now, possibly prematurely, that this may be the catalyst to have 2 separate P2Pool share chains running independently.

So, Bitmain changed the price of their new cloud mining contract to 0.00135BTC, down from 0.0016BTC.  Still never going to make a positive ROI.  It's just another cloud mining scheme designed to put money into the pockets of the service providers.  Ask yourself this: would you purchase an S2 right now for 1.35BTC?  Even with $0.10/kWh electric costs, you'll need the difficulty jumps to be under 6.5% to turn a profit.  Good luck.  Now, look at Bitmain's offering.  They'll sell you 1TH/s of mining, but charge you 37% fees.  That 37% will change as the price of BTC fluctuates.

As for the p2pool impact, I sure hope Bitmain has figured out how to deal with the variance problem.  Throwing another 4PH/s onto the network will mean share difficulties of about 50M.

Been running the fork for about 4 days, no issues, works great. I noticed this morning that there is an upgraded version already, will update to that today and keep testing.

Matt's fork does NOT have any effect on typical p2pool shares, it only relays found Bitcoin blocks, and p2pool latency is still something to keep a close watch on.

Nearly 4Ph/s! Are we starting to bitmains hash from this new cloud service?

So how is Matt's fork running guys?

I wanted to ask if Matt's fork is lifting the issue of having to use low latency connections for P2Pool.

If winter was just wrapping up in the northern hemisphere, and lots of warm weather was ahead, I'd consider it.

But cold weather is coming this side of the world.  Once again my space heaters can be put to good use.

M

My view as well and given that these S2s have probably been running for how many months already?

Totally agree with you on this. I hope it allows small miners to remain in the game, even the people with just an S1.

Also, that's roughly 30% maintenance fee at current BTC USD value.  Painful times.

M

This price is a bit steep IMHO.  1.6 BTC for 1 tH/s?  Can do better with 3 S3s if you have PSUs already, and electric cost is about the same or less.

M

I know, I've felt like this for the last 2 years......

After so many months of inactivity on the p2pool dev side, I'm just happy to see something happening at last. It's either this or nothing, & I think we're all pretty tired of nothing. Once the code is released, I'm sure some good will come of it.......

That would be nice but the latency would be bad if my miners were in China and my p2pool / ANTPOOL in New Zealand. Can't see how that would work.

They must have something planned to back up their claim "the whole Bitcoin community will never be anxious about the potential risks of the decentralization risk associated with the pool mining model now."

I feel the time frame is a bit tight to buy into Round 1, on the 2nd without knowing a bit more about how this will work.

Unless ANTPOOL allows us to continue running our p2pool nodes with local miners and we somehow can "top up" by buying GHs on the farm. Our hosted miners add to our shares irrespective of geo location.

But then we are just into a vicious spiral of continually spending our hard mined BTCs on more miners to make more BTCs to spend on more miners...

I'm starting to feel like a BTC mining junkie, never able to quite get ahead enough to get out of the game.

Yes no problem with that.
Thing is that in 12 months time - even in 3 months time a miner of 1TH/s might be useless to run at home/datacenter.
And where can I buy a new one from?
So in other words who needs an excellent working P2Pool when nobody will have miners at their homes making ROI.

The manufacturers are taking away the benefits we have with P2Pool with forcing cloud mining only (and by forcing I mean if they sell to us miners that will never ROI).

I'm presuming that as their new p2pool code is open source, it will be configurable in the same way it is now, so anyone can still have their own node?.....Maybe their hosted miners can also be configured this way too, so that it can be pointed at any node the user wishes? Just speculating, of course......

I've felt this was on the cards for a while now and recent posts here about the viability of running our own pools have certainly had me thinking that it will all be DC style farms by the end of the year.

TBH, his infamous little rant was an invitation for someone to take up the reins - who better than a manufacturer the size of Bitmain who also have a desire for decentralization & an R&D department with limitless capability? This could be sweeeeeet  

On a side note this answers the fact why they switched S3 to preorders.
I don't know if this is good news or bad news - as this leaves only Spondoolies to offer hardware without running a farm at the same time.
Yes you will say that Bitmain is "renting" its power but since they come out and say that they officially have a farm we don't know how much extra power (maybe the S3s that didn't ship for 1.5 months) and of course they are merge mining.

So is this good for p2pool? Well nobody will care in 12 months time because it seems that we will all be forced to switch to cloud mining and others will keep the benefits of p2pool. We will just get payouts based on a calculator every week.

It seems that serious companies copied pbmining's ponzi scheme. But this time since they have their own hardware they will just remove the "ponzi" part and do it legit and we will all accept and be happy.

It seems mining for the average folks will be a thing of the past soon...

So they have S2s working with ANTPOOL, their new p2pool implementation.

5,000 AntMiner S2 being operated in the mining farm, and the hash rate of 4,000 AntMiner S2 were switched into HASHNEST.

We are investing significant resources into the development of p2pool mining protocol. At present, the hash rate of HASHNEST is mined from ANTPOOL, zero (0) fees, which will soon be contributed into p2pool. The development of contributed into p2pool is almost completed, and in the final testing and deploying. The code of ANTPOOL will be open sourced, and we are confident that you will be impressed by the outstanding contribution that BITMAIN put into p2pool protocol. We have a focused team who are developing the p2pool mining protocol, and the goal is to have 80% of the total network hash rate join p2pool within next 12 months. At that time, the whole Bitcoin community will never be anxious about the potential risks of the decentralization risk associated with the pool mining model now.


UMISOO, the first Operator on HASHNEST will provide 4PH/s hashing power, and plan to start the Round 1 subscription at Beijing Time 22:00pm, 2nd September, 2014 (UCT+8:00 Time Zone). Official subscribed flat price is 0.0016 BTC/Gh/s. Due to the anticipated high demands, each user is limited to a maximum of 1,000Gh/s. The Round 1 hash rate is generated by AntMiner S2 with the maintenance fee of $0.0032424/GH/s/Day.

Official subscribed flat price is 0.0016 BTC/Gh/s.

Each user is limited to a maximum of 1,000Gh/s.

Maintenance fee of $0.0032424/GH/s/Day.

So max buy in is 0.0016 BTC/Gh/s x 1,000Gh/s = 1.6BTC

Maintenance fee of $0.0032424/GH/s/Day = $3.2424 per day or $98.623 per month

So a hosted S2 in China for 1.6BTC & $3.24 per day including power etc.

No shippping, taxes, power costs etc.. sounds OK.

This part I'm confused about: At that time, the whole Bitcoin community will never be anxious about the potential risks of the decentralization risk associated with the pool mining model now.

If we all buy into running hosted miners how is the taking away the decentralization, which is why a lot of us are running our p2pool nodes?

 

No.  

I'm sure he's a little miffed though......"why oh why did I say what I said?  "

And now everyone starts thinking that maybe forrestv is working for bitmain on the new branch thats why he had disappeared?