We opened our own pool with just 1% fee, which is from our understanding very low. We are not aiming to get rich while sleeping, only so it can partly pay for the bandwidth etc. Hence the low fee.
You can join us at http://xmg.hashtech.nl we have a strict "no-whales-allowed" policy. Amount of KHs is subject to debate, but we will suspend any big hashers as we want go give everyone a chance to join into XMG.
Cheers!
You can join us at http://xmg.hashtech.nl we have a strict "no-whales-allowed" policy. Amount of KHs is subject to debate, but we will suspend any big hashers as we want go give everyone a chance to join into XMG.
Cheers!
Nice, but what is your transfer fee?!
It's set to 0.1 currently, which is about 8 cents. We will adjust accordingly on pool size and coin worth. Transfers will never be more then $0.10. This is simply to cover bandwidth and costs to keep the pool up. The more miners we have the lower we go, as we need less and less to cover for it. We have 100+ connections to the network so the confirms and block height updates will be quick. (We could go higher, but as we've experienced it doesn't result in better confirm or block height update speeds)
We are trying to encourage people to save a few XMG up before transferring it to their wallets. This is cheaper for us, but also for all the users.
0.1 XMG is too high fee. The max acceptable fee is up to 0.05!
And do not convert it to $$$ and say, it is only $0.10!!! The current price of the coin is about $1, BUT next month could be $1000!
I honestly disagree with that. Fiat is what's paying the bill for the rack space its in, the energy it uses, the bandwidth it uses. If for any reason the coin would be worth $1000 next month, then we would set our fee at 0.0001
As written before, we adjust the fee accordingly to its market price. If you still think it's to high, it's your own choice of course. You are free to use a different pool or to go solo mining.
I also disagree with you too. The cheapest VPS is about from $7 to $15 and is perfect start for new project like this. So, you will get VPS from $15/month. This is $0.5/day and with the current price of the coin you need 0.5 coins per day.
I will stop writing anymore, the above example is clear.
I don't think you've got a grasp on what hardware it's hosted honestly. You go ahead, take the cheapest VPS you can find and see if you can handle a stratum pool with plenty of connections to different workers who report multiple times per second. I can tell you a 1 vCore 2ghz VPS wont cut it. And sure lets go for $0.5 per day or 0.5? XMG, which is actually $0.4 currently. How much transfers do you think we've got right now? The Pool is small, most smart people save XMG up and transfer in bigger amounts then 1 XMG. Shocker: none so far. How about mining fee? As of right now, in the 2 weeks its running (roughly), the fees has made up a total of 0.06 XMG, I don't think I need to do the math for that. Lets say instead of the 7-10 concurrent miners right now, we would have 70-100. Obviously the transfer fee won't be 0.1 but 0.01. We adjust accordingly.
Right now the "VPS" is running on a spare SuperMicro X10 server, with 8GB of DDR4, 128GB of PCIe SSD, 2x 1Gbit Redundant connection in a 1U rackspace. Overkill? Yup, definitely. Is the fee for covering that? Nope, just energy which is about 25 Watts or so and bandwidth which isnt calculated right now, as a month hasn't passed so we cant get reliable numbers.
The idea is to, eventually drop the transfer fee entirely, and soly go on the 1% miner fee. Because that will be plenty of coverage for the resources used. But thats not viable right now from a business stand point, as we have not enough users to accommodate for that at all.
I wish you luck.
