[20 TH/s] [NEW POOL] [FUTURE PPLNS] [1 BITCOIN BONUS] BeastBTC.COM - page 2.

Nexious

full member

Activity: 140

Merit: 100

Nexious.com Admin

Quote from: BeastBTC on July 09, 2015, 04:05:13 PM

I will check with the programming team, all we were told is that a small amount of BTC is being taken out of every block as a reserve to pay for the server. It's a small amount, roughly 0.3 BTC is what we were told.

I just do the public relations, such as forum posts, I am not in charge of the programming so I would not have that information for you.

How can any amount be taken if there are no fees?

So essentially you are saying that you will be stealing some of the miners BTC every block to cover your costs? Im sure many of the miners would not be happy with this.

Also with the block finder rewards do you have any proof of the ownership of the 5BTC (5 block bonus rewards)? Or do you also plan on using some of the miners BTC to cover this also?

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

Quote from: jonnybravo0311 on July 09, 2015, 03:57:47 PM

No. All it does is show you don't understand how PPLNS pools work. Let me clarify things for you.

In a PPLNS pool, miners do not get paid unless you find a block. Miners get paid for their shares. Do you even know what your "N" value is in your pool?

Take for example kano's pool (http://www.kano.is). The N value there is 500% current difficulty.

A miner has to ramp up to get a full amount of shares in that N period, but he gets paid for his contribution for every block found in that N timeframe. The pool's luck plays into how many times a miner gets paid for a share during that N time. If the pool finds more than the expected number of blocks during that time, the miner gets paid more times for that share than expected. If the pool finds fewer blocks, then the miner gets paid fewer times. If the pool finds no blocks at all, then the miner does not get paid.

Clear enough for you? I really suggest you take some time to learn about these things if you're expecting to run a pool.

I will check with the programming team, all we were told is that a small amount of BTC is being taken out of every block as a reserve to pay for the server. It's a small amount, roughly 0.3 BTC is what we were told.

I just do the public relations, such as forum posts, I am not in charge of the programming so I would not have that information for you.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

No. All it does is show you don't understand how PPLNS pools work. Let me clarify things for you.

In a PPLNS pool, miners do not get paid unless you find a block. Miners get paid for their shares. Do you even know what your "N" value is in your pool?

Take for example kano's pool (http://www.kano.is). The N value there is 500% current difficulty.

A miner has to ramp up to get a full amount of shares in that N period, but he gets paid for his contribution for every block found in that N timeframe. The pool's luck plays into how many times a miner gets paid for a share during that N time. If the pool finds more than the expected number of blocks during that time, the miner gets paid more times for that share than expected. If the pool finds fewer blocks, then the miner gets paid fewer times. If the pool finds no blocks at all, then the miner does not get paid.

Clear enough for you? I really suggest you take some time to learn about these things if you're expecting to run a pool.

Gws24

hero member

Activity: 537

Merit: 524

Sorry, but you are not making sense. For PPLNS you don't need to build up a wallet in order to account for the unlucky times. For PPS you do so what is your pool going to be? Where are the bitcoins from the first block mined going because you are contradicting yourself by saying 'we will start payout...' and 'let it sit in our wallet'.

Your not convincing anyone like this.

EDIT:
And what is 'Some pools would take the red too the BTC and do other stuff with it' supposed to mean?

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

Your misunderstanding.

We will start payout as soon as the first block is found.

Some pools would take some BTC and pocket it, ahead of the payout cron job, and do other stuff with it, we're not going to do that, we're going to let it sit in our wallet so Incase we get unlucky, we can still pay our miners, which we have a good amount miners who enjoy our pool very much and does not mind helping out in the beginning.

Hope this clarifys it.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: BeastBTC on July 09, 2015, 02:33:04 PM

Who knows, we have protection so no biggie

We plan on using PPLNS, but we need to find a few blocks first to build our wallet. We are offering a good amount of rewards if you are one of the first 5 block finders.

Ummm.... that's not how it works. You don't need to build up your wallet for PPLNS. The pool pays out when it finds a block. What you're suggesting is that for the first X blocks nobody but the block finder and you the pool operator are going to get anything... 1BTC to the block finder and 24BTC to you so you can build up your wallet? Who in their right mind is going to mine here???

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

Who knows, we have protection so no biggie

We plan on using PPLNS, but we need to find a few blocks first to build our wallet. We are offering a good amount of rewards if you are one of the first 5 block finders.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Somebody wasted their time directing a DDoS attack against a pool with a total hash rate of 11TH/s? Wow... who'd you piss off? Tongue

EDIT: by the way... what does "future PPLNS" mean?

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

DDoS Attack #001: Occurred 2 Times, one at 1:08 PM EST and one at 1:25 PM EST. At 1:08 PM Mitigation kicked in and we had 0 seconds of downtime. At 1:25 PM we had 2 seconds of downtime.
Status: Fully Mitigated

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

We made it to 21 TH/s!

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

We are not BAN, we are not copying their acts. Yes, we are aware of their "S3 Giveaway" going to an admin, but, we are giving away 1 BTC for the first 5 block finders like BTC Dig did. Now, if an admin finds a block that 1 BTC will go back to the pool, whether it is for payouts or to help cover server costs, because those are not free. So far, we are growing, steadily. We are happy how we are growing, and we wouldn't change it at all! Everyone starts out new, you don't going form starting a said "company" to becoming a multi-million corporation over night. You just have to have trust. Yes, there are people who have been scammed in the past and are now paranoid everything is a scam, without even trying it. The saying is, you can't judge a book by it's cover.

smokem

newbie

Activity: 10

Merit: 0

Quote from: BeastBTC on July 07, 2015, 07:31:31 PM

We have no comment on that pool, cough cough...

Which is one of the reasons this pool was created.

So, the BAN scam pool finally bites the dust & you quickly create a.......well.......BAN clone.

Impossible payment promises, unbelievable free givaway promotions, unsure of own payment plan, new account, etc, etc........ you even got the irc thing going so miners can sit there all day begging for their hard earned BTC like BAN did.... Roll Eyes

I presume you'll be handing your givaway BTC over to a trusted escrow in the mining community ready for paying to the lucky miner - or will you create loads of fake accounts & pay those "lucky winners" in true BANscam style too?

Seriously guys.

aurel57

legendary

Activity: 1302

Merit: 1001

Why would anybody trust a new pool operator that does not even understand the basics?? Good luck

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

Okay,

Thank you very much for the clarification! The title is now updated along with the description of our initial plan, and future goals to accomplish.

Thank you gentlemen!

-ck

legendary

Activity: 4088

Merit: 1631

Ruu \o/

Quote from: ?? on ??

Are you saying the reasoning behind our pool best fits PPLNS? Is that not what BTC Guild used, PPLNS?

No, he's saying you're advertising PPS but not going to deliver PPS. Which is exactly what I said. You'll have to change the title of your thread to "going to be PPS" with what you're planning. I have no idea what to call your initial idea... crowd funding or something.

eleuthria

legendary

Activity: 1750

Merit: 1007

Quote from: BeastBTC on July 07, 2015, 08:06:29 PM

Good question ck,

We decided to take the users total averaged hashpower, and multiply it by a a reasonable PPS amount. Enough to where we will not go over what we collected, but not little enough to rip anyone because that is morally wrong.

We plan to have our cold wallet have a semi-full amount at all times once we get off the ground, but reparations will be paid to those who help beforehand.

Quote from: BeastBTC on July 07, 2015, 08:13:51 PM

This is until the first block is found, once it is found we will be on a set course for standard PPS without any changes or alternative payments as such.

It is not like we are asking for free hash power if that is what you are thinking. Everyone who attributes to the pool will be paid accordingly.

Doesn't change that you're advertising a 0% Fee PPS pool...and are not paying PPS in any way shape or form. If the users have to wait for a block to be solved, it's not PPS.

0% PPS means every share submitted is paid (25 BTC / network difficulty at time of share submission). It doesn't matter if the pool finds 50 blocks or 0, every share submitted is paid that amount.

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

This is until the first block is found, once it is found we will be on a set course for standard PPS without any changes or alternative payments as such.

It is not like we are asking for free hash power if that is what you are thinking. Everyone who attributes to the pool will be paid accordingly.

-ck

legendary

Activity: 4088

Merit: 1631

Ruu \o/

You mean you don't intend to pay miners until you find blocks? That is not PPS.

BeastBTC

sr. member

Activity: 308

Merit: 250

I'm A Beast!

Good question ck,

We decided to take the users total averaged hashpower, and multiply it by a a reasonable PPS amount. Enough to where we will not go over what we collected, but not little enough to rip anyone because that is morally wrong.

We plan to have our cold wallet have a semi-full amount at all times once we get off the ground, but reparations will be paid to those who help beforehand.

-ck

legendary

Activity: 4088

Merit: 1631

Ruu \o/

Quote from: BeastBTC on July 07, 2015, 08:00:15 PM

Once a few blocks are first found, we will be having minimum payouts set to 0.001 BTC.

It may raise to 0.01 if deemed necessary later on.

Thanks for asking!

You said once a few blocks are found. You said nothing about prior to the first block. So what and when do miners get until the first block is found...?

Topic: [20 TH/s] [NEW POOL] [FUTURE PPLNS] [1 BITCOIN BONUS] BeastBTC.COM - page 2. (Read 3383 times)