Topic: Bitcoin.com Pool, PPS - page 3. (Read 18352 times)

'pool.bitcoin.com' is highly unlikely to run away with your mined bitcoins. People behind the bitcoin.com pool are not random no-name figures in Bitcoin space. Roger Ver, Andrew Stone, just to name a few, are prominent figures in Bitcoin space, not some random crooks that nobody has met. Pool can sustain itself with 110% PPS because TX fees (which are not shared with PPS models) account for more than 10% of block reward. Assuming a long-term pool luck at 100%, they will make a small margin for themselves with PPS@110% model. My personal preference is for PPLNS models because in the long term they are likely to be slightly more profitable. With any PPS models, pool operator assumes the risk of orphaned blocks and bad luck, not the miner. Therefore, as a miner, you generally pay a little extra for 'insurance'. I do not mine with them myself as my preference is PPLNS at lowest fee possible, but if you want stable predictable payouts, they are either top#1 or top#2 PPS pool in terms of payout percentage right now. Worth a try!

PS. While I can say that pointing your ASIC miners to their pool is highly likely *safe*, I can not vouch for any of their cloud mining contracts today as it's unclear from where the hash rate comes from. If they re-sell hash rate bought from somebody else, they are just the middlemen, and you may end up overpaying. In complex ownership structures, it's also difficult to have a clear picture of the asset at hand - who owns what, who bears responsibility to provide support, is the support offered by bitcoin.com or someone else, and if so, does bitcoin.com pool open support tickets to another entity, possibly resulting in very lengthy support delivery times? I have no answers to any of that.

Sorry for diggin this up. They started offering cloud-mining contracts recently.
Now, to my knowledge almost all "cloud-mining" offers are blatant scam or at least very unlikely to ever allow people to get their investment back. Looking at their offer and assuming difficulty will increase following a similar pattern as before these contracts seem to be profitable.
What's you guys take on this offer? Do you think it is likely the operators will just run with the investors money?

I have been on the pool since they started the 110% and can verify the nightly withdraw fee is about $0.06 based on $1352USD/btc

I asked support, "Is there a fee for the daily autowithdraw?" Their reply:

hmm

I'm glad you know everything.   

If you were to look at the pool statistics they seem to indicate he has had really poor luck, or people are withholding.  It looks like he is negative over all for what I expect he is paying.  So, it would seem many payments come out of his pocket.  I think you were the one that pointed out the size of reserves he would need with fantastic math as proof that showed what would happen if the pool ran into poor luck.  It's safe to say that the pool has under performed significantly for the hash it reports.  Reminds me of December on your pool.  I want to say 70%?

That not withstanding, you have on multiple occasions pointed out that he is pocketing all of the earnings, because he is effectively charging huge fees even though he says he doesn't charge fees, so doesn't that simply fit with what you already thought?  He pockets all of the money, and then he has to pay it out due to poor luck...

That's either a complete lack of understanding of bitcoin mining, or you are saying he pockets all the transaction fees

Most blocks lately pay more than 10% (more than 1.25 BTC extra) in transaction fees (and average more than 10%)
So if that 10%+ is not accounted for then it is going into his pockets, so I guess then that you 'could' say it is coming from his pocket ... after on average more than that 1.25 BTC went into his pocket ...

I think it is safe to say that if the block reward is 12.5 BTC he is paying 13.75.  With regard to the 1.25 BTC I would imagine that some of the 1.25 BTC comes from mining fees in the blocks that the pool mines.  But I believe that the bulk of the 1.25 btc comes out of Roger's pocket.  At least that would seem to be the case based on a few emails we have exchanged. 

Yes you did.

However, this guy said that it's wrong


Basically I want to know 110% relative to what? Say block rewards for bitcoin is 12.5. Then? He pay 13.75. How did he get the 1.25 BTC?

You already asked in another thread and I answered.

Can anyone tell me how can someone paying 110% pps?

How do they make more than 100%?

My auto withdrawal happened on time, and exactly what I was expecting was paid.  May want to open a support ticket.

No Auto-Withdrawal today - 1st time its happened

The support finally got in touch with me and got everything resolved.

So far no issue with mining payout, only fees is charges during withdrawn.

We are constantly improving the pool so please feel free to post feature requests here: Link
We will also be releasing hard data soon showing that we pay significantly more than other pools.

Join us today!

Just did a withdraw today. Was instant.

I'm testing it and for me no problems, auto withdrawal every day, emails when your workers are offline... good so far

Been mining for 1 month, First time withdrawing and it won't withdraw. They won't let you withdraw. Let me know if you have the same issue.

Well it uses a modified CKDB, I guess I made it simple for them to add you requests