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Topic: bit pit - (LP, ESMPPS, 8-decimal payout, SSL, API, 0% fee, Almost 0% Stales!) - page 19. (Read 80771 times)

member
Activity: 112
Merit: 10

First of all, I think you might no give 5 BTC to one person, who find the block (at least in 6th round), but increase payouts for everyone by 10% (that will be the same amount of BTC) or even by 5%. I think this is will give greater psychological effect for miners to join, than having a little chance to win jackpot (and this is why people often prefer large pools with stable little payouts than little ones with huge (as we may see right now) influence of luck).

And second suggestion is implement some kind referrals system for early stage or giving some bonuses for early adopters (such as, for example, 1% bonus for payouts to first 100 people who send at least 10000 shares). It can be temporary of course, all what we need is grow to 100-200GHashs.

I hope you understand what I mean (google translator is not always a panacea)


That's a pretty good point. Perhaps on a future round we could do that, but I'm hesitant about changing the rules of a contest once it's started.

This block will be over soon, and we'll continue to offer bounties as a way to get this pool even bigger. I really do like your idea of just increasing everyone's payout for future bounties. I'll need to review how we'd even implement that, as right now reward calculations are based around a 50 BTC block...

Let us look into this and see what our options are. Also, let us think on the idea of a referral system... not sure how long term do-able that is since we're a 0% fee pool.... but, I do like your idea of limiting it's time frame.
newbie
Activity: 22
Merit: 0
Thanks for joining up! If you have any suggestions or feedback for growing our pool, we'd love to hear them!

First of all, I think you might no give 5 BTC to one person, who find the block (at least in 6th round), but increase payouts for everyone by 10% (that will be the same amount of BTC) or even by 5%. I think this is will give greater psychological effect for miners to join, than having a little chance to win jackpot (and this is why people often prefer large pools with stable little payouts than little ones with huge (as we may see right now) influence of luck).

And second suggestion is implement some kind referrals system for early stage or giving some bonuses for early adopters (such as, for example, 1% bonus for payouts to first 100 people who send at least 10000 shares). It can be temporary of course, all what we need is grow to 100-200GHashs.

I hope you understand what I mean (google translator is not always a panacea)
member
Activity: 84
Merit: 10
Hi there.
I joined just yesterday with my ~1.75GH, can't wait to find this damn block.
Also, pool speed increase in last day is my job (partially at least), I did some PR in another forum =)
(sry for grammar)

Thanks for joining up! If you have any suggestions or feedback for growing our pool, we'd love to hear them!
newbie
Activity: 22
Merit: 0
Hi there.
I joined just yesterday with my ~1.75GH, can't wait to find this damn block.
Also, pool speed increase in last day is my job (partially at least), I did some PR in another forum =)
(sry for grammar)
full member
Activity: 226
Merit: 100
that's because we 've found 5 blocks in a week!
statistics is a bitch Cheesy
legendary
Activity: 938
Merit: 1000
We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy

I cannot believe it... stupid block  Angry

We are over 3.3X of difficulty  Angry
member
Activity: 112
Merit: 10
We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy

I cannot believe it... stupid block  Angry
sr. member
Activity: 686
Merit: 259
We are still stuck on this block ._.
But at a least we are on the pie chart of Bitcoinwatch Cheesy
member
Activity: 112
Merit: 10
If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

I see.  Would it be possible to counteract this fee by offering full 8 decimal point once you have at least above 0.02xxxxxx BTC to withdraw or will it still be affected because it's in the decimal points after the 0.02?

That is my theory, and the aspect of this I'd like to explore in more detail.

Right now we set the minmum "pay me now" threshold to 0.01 BTC. Perhaps that threshold remains unchanged, but (if enabled) we send out the full amount. If the transaction costs are the same, then concern #1 goes entirely away.
full member
Activity: 182
Merit: 100
If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

I see.  Would it be possible to counteract this fee by offering full 8 decimal point once you have at least above 0.02xxxxxx BTC to withdraw or will it still be affected because it's in the decimal points after the 0.02?
member
Activity: 112
Merit: 10
I meant to ask, do you plan to offer payout to the 8th decimal place?  Would further distinguish the pool from the majority, imo

That is something we've talked about. In generally it's a great idea. However, in practice there are two concerns that keep coming to my mind.

1) Older clients don't support BTC amounts to that precision.
2) If I am not mistaken, sending extremely small amounts (sub 0.005 amounts in the current client) can require high fees to send across the network in a timely fashion.

The first issue is dwindling as time moves on, and perhaps we could even offer this as an option. Something turned off by default (for safety), but that you could turn on to enable full-precision payouts.

However, issue #2 would require more research on my part. I never really sat down and and fully explored the fees, and limitations associated with full precision transactions.

I wil add this to our feature request tracker. Now that I am thinking about it, I am very curious what technical (and financial) hurdles lie in the way of implementing this. I'm very interested in this the more I think about it  Smiley
full member
Activity: 182
Merit: 100
I meant to ask, do you plan to offer payout to the 8th decimal place?  Would further distinguish the pool from the majority, imo
member
Activity: 112
Merit: 10

So it seems, 0 stales over 6 miners with the most accepted being 400+ since an idle warning triggered aids.pl to switch to BTCGuild then back to bitp.it ~1h ago.

That is excellent!

I am glad to hear things settled down. We did change our key pool size, which should help too. We're also working out some ideas of how to decrease them even more.

I take it you're back with us  Wink

Do let us know if they pop back up.
full member
Activity: 216
Merit: 100
It may be too small a sample size, just something I've noticed in the past couple hours.
I appreciate you mentioning it never-the-less. We aim to keep our stales as low as possible, so this is definitely something we're looking into at the moment.

Even before this came up, we'd been talking about ways to make our stale rate even lower. In a couple of hours lowentropy and myself are going to work through a few of our ideas. I will keep everyone up-to-date once we have anything noteworthy.
So it seems, 0 stales over 6 miners with the most accepted being 400+ since an idle warning triggered aids.pl to switch to BTCGuild then back to bitp.it ~1h ago.
member
Activity: 112
Merit: 10
Also,

I just wanted to let everyone know that we've made it on the Bitcoin Watch pie chart!!!

member
Activity: 112
Merit: 10
It may be too small a sample size, just something I've noticed in the past couple hours.

I appreciate you mentioning it never-the-less. We aim to keep our stales as low as possible, so this is definitely something we're looking into at the moment.

Even before this came up, we'd been talking about ways to make our stale rate even lower. In a couple of hours lowentropy and myself are going to work through a few of our ideas. I will keep everyone up-to-date once we have anything noteworthy.

On a different note;

Thanks everyone for your help. We've experienced a good deal of growth today, and appreciate all our new users. Additionally, to everyone with bit pit messages/links in your signatures, and who'ev generally helped spread the word for us, we are eternally grateful!  Smiley
full member
Activity: 216
Merit: 100
The decreased stale rate has evaporated recently with the increase in pool hash rate. Will I see those low stale rates ever again?

Hmm, I'm still running at a decent ratio.  2352:5 (0.2%).  What card/drivers/SDK/miner you running?

I'm on a 5850, 11.4, SDK 2.4, GUIMiner v2011-7-1 on Windows 7 x64 running poclbm OpenCL with Ma tweaks reapplied.
It may be too small a sample size, just something I've noticed in the past couple hours.
full member
Activity: 126
Merit: 100
Good to hear. The stale rate is currently about the same as BTCGuild before the DDoS.
My ratio is 98/40089 (0.24%), that's honestly better than I ever did on BTC Guild.
full member
Activity: 182
Merit: 100
The decreased stale rate has evaporated recently with the increase in pool hash rate. Will I see those low stale rates ever again?

Hmm, I'm still running at a decent ratio.  2352:5 (0.2%).  What card/drivers/SDK/miner you running?

I'm on a 5850, 11.4, SDK 2.4, GUIMiner v2011-7-1 on Windows 7 x64 running poclbm OpenCL with Ma tweaks reapplied.
full member
Activity: 216
Merit: 100
The decreased stale rate has evaporated recently with the increase in pool hash rate. Will I see those low stale rates ever again?

Definitely Smiley We're working on it right now.
Good to hear. The stale rate is currently about the same as BTCGuild before the DDoS.
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