On the OP it says "The below pools are confirmed to be on the correct chain." kdc.cryptofountain.com is lined out. They currently have about 50% of the net hashrate, I thought I saw earlier where they were confirmed to be on the correct blockchain. Can someone verify this? It's kind of worrisome.
They have been crossed out since they have just that. 50% of the hashrate.
There is another reason to cross out cryptofountain and that is that their payments do not add up.
I mean that when I point well over 300kh/s to their pool for 6 hours, then I can calculate that I should get 40-50 coins in a day.
The network hashrate is around 150-180Mh/s so I am contributing approx 1/500 of network hash rate.
60 blocks per hour times 16 coins per block is roughly 1000 coins/h so I can expect about 2 coins per hour.
After running at Cryptofountain for 6 hours, I had earned a grand total of 3.7 coins.
Apparently this is one of the crooked pools, who artificially inflates their pool shares, so they can pay out only a fraction of what they
get for each block found.
I ahve seen this on many pools, so you will need to test the payout of the pool whether it matches your calculated earnings.
You can detect pools that inflate their shares from the fact that their block finding rate does not match with the pool hashing rate.
For example Cryptofountain claim to have 110Mh/s which is almost 2/3 of the network hashing rate.
With a designed block finding rate of 60 seconds for the network, you can expect that a pool with 2/3 of total hashing rate will on average
find 2 out of 3 blocks, so average 1.5 min between blocks; 40 blocks per hour.
That is - if the artificially inflated pool shares would actually contribute work and find blocks.
But alas - the pool has inflated its database of shares, but those are not creating any work, so the block finding rate is still as low as
all the actual active workers are contributing.
How many *real* active workers are there?
Simply look at the actual block finding rate: 18 per hour; 400 per day. That means that only about 40% of their claimed shares (and hash rate) are actual miners sending work to the pool; approximately 60% of the claimed hash rate is "virtual", does not exist.
BUT: *all* of the claimed shares are receiving their part of the payout.
This leads to the conclusion that this "free" pool is actually taking 60% of the block rewards and pocketing it, while paying only 40% to actual workers.
Now you know why it is important to analyse the statistics of a pool and not just register with the first pool or even with the largest pool, if you see that you are getting 15 coins a day while you can calculate that you should be getting 40-50 coins a day.
Concluding: the *actual* *real* hashing rate of Cryptofountain appears to be approx 45 Mh/s (according to long term block finding rate)
and the pool share calculation does not give a fair payout, so this is one (of many, unfortunately) pools that is suspect and I advise against mining at this pool, unless you are happy with 40% payout and apparently having about 60% "involuntary pool donation".
To give another piece of evidence: I have switched my hashing rate to kdc.poolminewith.us and in the last hour I see a payout of 1.5 coins which is in line with what I expect - also their block finding rate and pool hashing rate are matching each other. So, it is better to join
a 1% fee pool like this, instead of being lured to waste your shares at a so-called 0% fee pool. Note that I am not saying that *all* 0% fee pools are crooked - there are people doing this out of hobby, but there are also those who rip off miners and some earn profits of multiple BTC per day, just by inflating their pool database. Often those are the guys that have attracted the most miners with 0% fee while the real honest pools are small. Time to switch that around (I was able to prove this also for another coin and many miners were extremely thankful, because after switching pools they suddenly received more than double their previous payouts).
So, I agree with the cross-out of cryptofountain in the first post.
Can you also remove them from the Klondike coin website?
