Topic: [20 TH/s] [NEW POOL] [FUTURE PPLNS] [1 BITCOIN BONUS] BeastBTC.COM (Read 3383 times)

Why would they?  The pool operators have no clue what is going on.  I find it humorous when I go to the website and am greeted with "Welcome To Beast BTC, we are a new mining pool devoted to PPLNS, which is currently in pre-stage level."

PPLNS in pre-stage level?  Yeah...

Seems even their own people don't mine there?? 

General Statistics
Pool Hash Rate   0 TH/s
Current Total Miners   0
Current Block   364996
Current Difficulty   51076366303.482

I believe the OP should have one of the 'technical people' come help explain their intentions.

If you do not, you have zero chances of having miners even try your pool, much less stay there.

Consider this, there are pools like Kano.is, bitminter, slush and others with operators who have been leaders of the mining and general bitcoin environment for a long time. They have established pools and have presented individual miners with some fantastic support, and I will speak more to my personal experiences with Kano and CK they provide explanations to any questions which are not only based in facts, but usually teach me more about the process than I'd originally queried.

In summary OP, you have embarrassed yourself and your colleagues with the claim to have an operational pool but lack of basic pool knowledge.
Until the day comes where mining is completely centralized and controlled by a central authority no one will be able to offer up a pool and expect a positive response. It will be quite the opposite as people read what you have written and assume you are either completely ignorant regarding the absolute basics of a mining pool, trying to scam new miners, or all of the above, which is the worst kind of person / company imaginable.

Again, delete your thread, have one of your technical people handle public communications, and go get sandwiches, coffee, and strippers for them. All paid for with coin of course.

Nice we have a new Type of Mining Pool.. I will have to add this to my list... NPPSUMH or No Pay Per Share Unless Magic Happens -- hmmm let me see if I understand this correctly

Option 1 - Solo Mining, I point my miner at a solo Pool for absolutley 0 Reward on the Possiblity that if I find a block I will get 25 Bitcoins

Option 2 - BeastBTC NPPSUMH Mining, I point a miner at your Pool for absolutley 0 Reward on the possiblity that if I find a block I will get 1 Bitcoin and you will get 24 bitcoin.



I like option 1


Risk versus reward.. you want us to take your risk out of the equation and you reap the reward..

Here is my suggestion

Get your supposed investors to cough up some bitcoin and make this a legitimate PPS pool. With Payments every 2 hours for now at .0098 per day per 1-TH/s, with 0% fees (to gain trust you need to offer expedient payments)... once you get some actual hashpower then offer the option of PPLNS (your ultimate goal).
I would also suggest that Founding Hashers that maybe meet some type of daily hashpower criteria, would get a lifetime % bonus ( either 1% fee on PPS or + ½% bonus on PPLNS )


You do this and I will gladly point a miner at your pool, and I am sure others would follow because you have at least lessened our risk to a two hour loss.

Absolutely right as always eleuthria! 

Sometimes I despair at the direction mining is going in, even more so now that you have decided to call it a day. Scam pool after scam pool, weather it be the cloud mining ponzi or good old hardware type, seem to come & go after ripping off noobs & running off with their funds again & again. Miners see the 0% fee, free givaways, promises of bonus payments, free miners etc, etc and instantly fall over themselves pointing their miners at a pool because they believe it's "free", ignoring all warnings from anyone & everyone about how such a service can't possibly exist.

Who will save us now?

What's that? Is it a bird? Is it a plane? No...wait....it's.....p2pool! P2pool will save us all from centralized scam pool oblivion......hoooraaaahh!!

Bowing out after this response...I hope it's proven wrong, but the last 3 pages have been a nightmare.


This is a new pool that spent "days" working on their pool.  They claim to have a team of programmers, admins, and investors.  Meanwhile it took almost 2 full pages to clarify the payment method and fees.


1) Who is going to invest money into a new pool that can't even get a proper first post for its release with relevant information?  Even when there were only 3 pools back in 2011, when new pools opened up they were very clear in how they were going to pay, how they worked, and only had teams of 1 or 2 people.  These days you've had almost 5 years of pools existing to draw knowledge from, and we get a post that is clueless.

2) Who is going to pay for "programmers" that are doing nothing more than deploying something that an first-year CS student could deploy over a weekend?  This isn't a custom built pool.

3) What kind of idiot would be an "investor" in a new pool without any clear business plan or prior knowledge?



Nothing about the content of this thread thus far adds up, and if somebody actually points hardware at this pool they deserve everything that comes (or more likely: doesn't come) from it in the long run.

What about transaction fees?  Are those paid to the miners as well, or does the pool keep them?

Two pages of posts to just get this part straight    

Exactly! The admin's personal miners are paying for the system, and if needed, the investors are willing to step in too. So, full 25 BTC to the miners.

I assume by the part I bolded that these admin payments are simply earned coin from the admin's own personal miners that are mining on the pool with everyone else, and not 0.3BTC pulled directly from the found blocks as you stated earlier in this thread.

From what they have sent over:

"The pool is currently setup to be used as PPLNS with a default diff. of 512. The 1 BTC bonus is being upfronted by our investors, 1 BTC each, for the blockfinder reward. This only applies for the first 5 blocks. Also, there are going to be no fees, not sure if someone said there is going to be fees but the pool is programmed currently for no fees, the server dues and such will be taken out of the admin's payments, as a donation to the pool made by them individually. We have incorporated security features such as software, and hardware firewall and DDoS protection. Along with SSH-Key access. On multiple parts of our network, we also require 2-factor authentication. We have figured out where the lack of communication/knowledge was in our teams, and we have fixed that for good now, and will not happen. Thanks you..."

Describing how your "pool" pays in a way that isn't misleading, wrong or nonsensical can hardly be described as "technical stuff". It is the most basic of basics - either you know how your pool works & pays or you don't, & from what you've said so far here it's obvious you don't have any clue whatsoever.

May I suggest you get your "programming staff" or your "technical team" or anyone with a vague idea of mining to open an account here & try to set the record straight once & for all, if only to save yourself any further embarrassment......

Payments start as soon as the first block is found. I had to talk to the programming team to clarify that for me, as I am not the one doing all the technical stuff.

So for the first 5 blocks there is no PPLNS payments. There is only 1 BTC if you find a block.

It's the same as solo mining, but you get 1 BTC instead of 25 BTC for finding a block?

So your only paying 25BTC per block and not the TX fees? You may want to state that so the miners know what they are getting. Unless I misunderstood what you were trying to say in the previous post.

Good idea, we will have the programmers update it tomorrow to have a small fee. We don't want to lose any credibility if we go big, best to play by the books with this!

Ok... That's a good thing.  The other thing though... That's not something you want to do.  If you need some capital to maintain the servers, charge a fee and be up front about it.  You're going to be in a whole heap of trouble if you try skimming.  Food for thought.

The first 5 BTC for the block finders are coming directly from our investors.

But you're skimming off the top.  You aren't paying the 25BTC when the block is found, you're paying out 24.7.  That's affecting the miners and except for your previous post that wasn't made public.  And how are you paying out that bonus coin?  Is that coming out of the 25 coins from a block find as well?  If so then the first five blocks you're paying out 23.7 of 25 coins.

There are no fees per transaction.

The miners can mine, and payout without any fees coming from them.

And also, yes. The worker name will show who found the block, so there is ownership proof.