[ANN] The First Litecoin PPS Pool (litecoinpool.org) - page 73.

Graet

vip

Activity: 980

Merit: 1001

Yeah I know I'm a bad man paying 20% more.....

BUT when Ozcoin's LTC pool started we were the 2nd or 3rd Litecoin pool. The "Unknown" section of the of the graph at
http://litecoin.kicks-ass.org/graphs/graphs.html
was huge, there were concerns about 51% attacks etc in the #litecoin irc chanel - I decided to offer 20% more LTC to try to entice some of the "unknown" to "known".
(btw contact molecular and get added to the graph)

At todays (btc-e) price 10LTC =approx 0.15USD - that wont send me broke....
The LTC pool is running on a server I already had for my BTC pool - extra cost 0

So thanks for your concerns but really it costs next to nothing to run the LTC pool, the team at Ozcoin Pooled Mining Pty Ltd have over 5 months experience running a BTC pool. We also think Litecoin has a future - or we wouldnt be here

Good luck in your venture, hope the lucky run continues for you

rTech

sr. member

Activity: 305

Merit: 250

Trust but confirm!

_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_

Ill personally donate 50 LTC for first person to add 90KHASH

Note! Miner's has to keep miners atleast 5 days constantly over 90khash.
I'm no way related in to this pool but i love pure PPS system. So i wanted to
help promote it. Real deal no catch ;-) Ok Thanks 'n' bye... Have fun..

-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-

Donated 50ltc to User2525

pooler

hero member

Activity: 838

Merit: 507

New change in difficulty, 6.7% decrease!
I don't know if this is good (because shares are now worth a little more) or bad (because the Litecoin network is not growing).

By the way, for all lovers of statistics I have added two more estimates on our stats page: an estimate of what the next difficulty will be, based on the current network hash rate, and the time to the retarget. These two figures should get more and more accurate as the difficulty change approaches. Please report any unexpected behavior! Cheesy

pooler

hero member

Activity: 838

Merit: 507

Quote from: g2x3k on November 11, 2011, 12:12:45 PM

you shuld read up on pool hopping ... pplns with proper setup, cant rly be cheated, why wouldnt care for those other problems ?

I think you should re-read my post, I never said that PPLNS could be cheated by pool hoppers. What I said is that miners are subject to luck effects and that both the pool and its miners can potentially be cheated by block withholders.

pooler

hero member

Activity: 838

Merit: 507

Quote from: wknight on November 11, 2011, 01:53:22 PM

I understand where your coming from. I was just bringing up the facts at this point these facts you present are untrue. Pools are going to change fee's and give away for promotions all the time. The way your post was worded is for todays Litecoin pools.

I have nothing against other pools, and I'm sorry if I gave that impression. When I said "proportional pools" I was rather referring to the proportional system in itself, that's why I didn't think of additional promotions and the like.
That's also why I think BTC and LTC pools can and should be compared. What is being mined is not important when you are just comparing reward systems.

wknight

legendary

Activity: 889

Merit: 1000

Bitcoin calls me an Orphan

pooler,

I understand where your coming from. I was just bringing up the facts at this point these facts you present are untrue. Pools are going to change fee's and give away for promotions all the time. The way your post was worded is for todays Litecoin pools.

Down the road Litecoin pools I am sure will change just like you changed your fee's.

Thats the only point I was trying to make.

I personally wish you all the luck in your pool.

Cheers

pooler

hero member

Activity: 838

Merit: 507

Quote from: wknight on November 11, 2011, 11:54:45 AM

You are right.. normally there are large fee's. But abcpool is 0% fee pps

Yes, but that's just a temporary promotional offer. On their own site they say they will introduce a fee later on.
And even now I am quite sure they have a few generous miners who donate the default 4% or more, even if the don't have to.
Of course I could do something similar, but I don't think I will, because that doesn't seem fair to me.

Quote

Proportional pools (including PPLNS pools) don't worry too much about these problems, because they never give away more than they earn.

This is false and mainly why i wanted to reply to your post. http://lc.ozco.in pays out 60 ltc per block. and also http://pool-x.eu pays 5 LTC block bonus to the block finder. Elitist Jerks use to do 50 ltc block bonus to the block finder.. so saying that a pool will never give away more then they earn is false.

Again, those definitely look like promotional offers, which probably won't last forever (unless those guys want to lose real money, because server costs are real).
I believe in Litecoin. What I am trying to build is something fair and durable, not something to attract miners. I don't want to reach a day when I will have to say: "Sorry guys, the offer is over, now we get serious." What would late miners think?

g2x3k

full member

Activity: 147

Merit: 100

PooL-X.eu

Quote from: DeathAndTaxes on November 11, 2011, 12:15:42 PM

Quote from: g2x3k on November 11, 2011, 12:12:45 PM

ofc you can, you just hide some blocks to cheat users dont lie! Tongue

i doubt youre doing hehe, but could is another thing

How would hiding blocks cheat the miner? Technically a PPS pool doesn't even need to keep public stats on blocks found.

to claim bad luck to justify the fees

wknight

legendary

Activity: 889

Merit: 1000

Bitcoin calls me an Orphan

One reason I always liked PPS.. i can careless if the pool found a block.. i get paid for my shares..

DeathAndTaxes

donator

Activity: 1218

Merit: 1063

Gerald Davis

Quote from: g2x3k on November 11, 2011, 12:12:45 PM

ofc you can, you just hide some blocks to cheat users dont lie! Tongue

i doubt youre doing hehe, but could is another thing

How would hiding blocks cheat the miner? Technically a PPS pool doesn't even need to keep public stats on blocks found.

If I submit 1,203,462 valid shares (at current difficulty) then I get 1 BTC minus any fees. Pretty hard to cheat that since I can keep track of number of shares I generate locally.

One way a pool could cheat is shaving shares (reporting less shares than accepted) but that is easily detectible.
A pool could cheat by reporting some % of valid shares as stale stales but personally I consider the stales the same as fees.

Thus (100% - stales - fees - downtime) = pool efficiency.

Payout = (# of shares) * (efficiency) * (block reward)/(difficulty)

Thus in my mind a pool w/ 3% fee and 1% stale rate is worse deal than a pool w/ 3.5% fee and 0.1% stale rate.

g2x3k

full member

Activity: 147

Merit: 100

PooL-X.eu

Quote

You cannot be cheated by the pool operator

ofc you can, you just hide some blocks to cheat users dont lie! Tongue

i doubt youre doing hehe, but could is another thing

and yea as wknight says right now ozco, jerks, pool-x are giving out more then earning right now .... + 0% fee and free withdraws on pool-x ... usually the pool is luck so a youre fee is kinda crazy but you shuld be making good on it

... even when pool is in a bit of bad luck youre still makeing on it has to be a quite high % bad long over period

on the other hand you shuld read up on pool hopping ... pplns with proper setup, cant rly be cheated, why wouldnt care for those other problems ?

i can post an overall luck graph of pool-x if wished to prove the point +1750 blocks ... overall been in luck,, never been in 3% bad luck for any longer period but hey wish you all the best luck, aint needed to trow dirt at other to promote yourself when you dont have facts straight

wknight

legendary

Activity: 889

Merit: 1000

Bitcoin calls me an Orphan

you have some truth to your post pooler but you might not want to compare to BTC pools as this is litecoin.

BTCGuild went PPS to make money in the long run.. simple as that

They are betting on the short blocks

BTW.. MtRed did the same.

You are right.. normally there are large fee's. But abcpool is 0% fee pps

Pool hoppers are still scarce with litecoin.. again something i would not compare just yet. In fact unless someone wrote a script its the only way to pool hop a litecoin pool at this time..

Quote

Proportional pools (including PPLNS pools) don't worry too much about these problems, because they never give away more than they earn.

This is false and mainly why i wanted to reply to your post. http://lc.ozco.in pays out 60 ltc per block. and also http://pool-x.eu pays 5 LTC block bonus to the block finder. Elitist Jerks use to do 50 ltc block bonus to the block finder.. so saying that a pool will never give away more then they earn is false.

Dont get me wrong I am VERY happy to see a PPS pool for Litecoin. Litecoin needs it.. I just want to make sure that when comparing other pools you are comparing Litecoin pools and not Bitcoin.

Cheers!

pooler

hero member

Activity: 838

Merit: 507

The pool found some lucky blocks in the last few days, so I decided to lower the fee to 3%. (You can still set a higher donation if you wish.)

I guess many people don't want to give our pool a try because they believe we have the highest fee among Litecoin pools. If this is you, I urge you to reconsider. Why? Because a PPS fee cannot be compared to a proportional fee. Take, for example, BTCGuild, which used to be the second largest proportional Bitcoin pool. They had a 0% fee, but when they decided to go PPS they had to introduce a 5% fee. Another clear example of this is deepbit.net: they charge 3% for proportional, 10% for PPS.

The reason for the higher fee is simple: miners in a PPS pool not only get steady rewards, but they are also immune to bad luck and cheating. You cannot be cheated by the pool operator, and you cannot be cheated by pool hoppers. The pool itself, however, is still subject to bad luck and to cheating by its own members, who could withhold found blocks. Proportional pools (including PPLNS pools) don't worry too much about these problems, because they never give away more than they earn.

3% is a very low fee for PPS. Give the pool a try, you won't be disappointed!

pooler

hero member

Activity: 838

Merit: 507

You might have noticed I have moved the payout history to a separate page, adding links to the block explorer for each transaction. I have also added the possibility to change the donation percentage because, believe it or not, one of our miners wanted to donate more. Shocked

By the way, is anybody interested in an iPhone interface to check your live stats? Let me know!

pooler

hero member

Activity: 838

Merit: 507

Quote from: Graet on November 06, 2011, 08:50:22 AM

Quote from: pooler on November 06, 2011, 08:33:25 AM

Correct me if I'm wrong, but I think we are the only Litecoin pool to have this feature at the moment.

We have had it for 1% donors since day 1

Sorry, Graet. You should correct the first post on your thread, then, because right now the feature is striked-thorugh, and it says "coming soon".

Quote from: Graet on November 06, 2011, 08:50:22 AM

on another point there is now litecoinpool.dyndns.org and litecoinpool.org - hope it doesnt get confusing for miners on the 2 pools

Unless they are doing pool hopping, I don't think this will be a problem.

Graet

vip

Activity: 980

Merit: 1001

Quote from: pooler on November 06, 2011, 08:33:25 AM

Correct me if I'm wrong, but I think we are the only Litecoin pool to have this feature at the moment.

We have had it for 1% donors since day 1

on another point there is now litecoinpool.dyndns.org and litecoinpool.org - hope it doesnt get confusing for miners on the 2 pools

pooler

hero member

Activity: 838

Merit: 507

Quote from: rTech on November 06, 2011, 05:39:38 AM

Loving it

Donated 2.3 LTC. Nice work!.

Thank you!
I have made some improvements to the workers graphs, hash rate history will be more accurate from now on.
I have also implemented email notification of idle miners. Correct me if I'm wrong, but I think we are the only Litecoin pool to have this feature at the moment.

rTech

sr. member

Activity: 305

Merit: 250

Trust but confirm!

Loving it

Donated 2.3 LTC. Nice work!.

pooler

hero member

Activity: 838

Merit: 507

Quote from: rTech on November 05, 2011, 01:29:13 PM

Its nice but i prefer just white page with black text. No other hazzles than miners required info

Clean inrface for fast look up

Done! We now have an HTML API, too! Find the link on your account page.
This way, you don't need to log in, you just need your personal API key. Bookmark the link on your mobile device and you're done!

rTech

sr. member

Activity: 305

Merit: 250

Trust but confirm!

Quote from: pooler on November 05, 2011, 01:22:29 PM

Quote from: rTech on November 05, 2011, 12:21:56 PM

i also have one request

Mobile friendly login just to see hash speed, miners (if they idle), results and payments. So just login screen what acces to those and log out. I usually use mobile device to check things so it could be nice to have interface for lower resolutions.

I will look into this. Is there anything in particular that is not displaying nicely on your mobile device?
In the meantime, you may want to check out the API (find the link on your account page). Since it is just a pretty-printed JSON file, it should be easily readable on any device.

Its nice but i prefer just white page with black text. No other hazzles than miners required info

Clean inrface for fast look up

Keep up good work, i also added i5 2500k with 1 thread (3.62kh/s) to crunch just for fun. Its my main pc so i use it alot so 1 thread is just there to boost up not fully mining as my others..

Topic: [ANN] The First Litecoin PPS Pool (litecoinpool.org) - page 73. (Read 226814 times)