Topic: [CLOSED] BTC Guild - Pays TxFees+NMC, Stratum, VarDiff, Private Servers - page 110. (Read 903163 times)

O.k. so since I am now on the PPLNS method, do I need to set up a Namecoin wallet ASAP? I have very little hash rate, so it could be a long while before I would even be able to sniff at planning a payout. and since ScryptGuild has brought auto-convert to BTC, will you consider making that possible between Namecoin on BTCGuild?

FWIW, I think this is a good move for a number of reasons, not least of which is the streamlined marketing message the lack of a high-fee PPS choice provides.

On the off-chance there is pushback, it will be a non-issue with days or a couple of weeks.

   I see, ever since you removed PPS from the Leader board Stats Page, its been kinda impossible to see what the earning comparison was. ie. PPS at 35% of total pool vs. another day where it runs at 48%. Maybe a sort of parabolic curve could be put together where a sustained run of bad pool luck could hedge down the PPS rate to help reduce the overall loss. I stick with PPS for the day to day consistency, I wouldn't mind if the losses needed to be spread out to protect the pool.

This has happened before and it always bounces back.

That's the thing that's hard for some people to realize.  It's one of the reasons when BTC Guild became a 51% threat I tried to get people off PPS by increasing the fees.  The larger the pool, the faster PPS makes you lose money, and the faster it gains money.  It doesn't decrease the highs and the lows, it simply makes them alternate more frequently.  It becomes a roller coaster, and the amount of stress it puts on you is immeasurable.  BTC Guild, when it was pure PPS, had days where I lost over 500 BTC.  It had days where I gained over 500 BTC.  In the long run, it made a profit, but the human mind is designed to place more emphasis on negative events/emotions than positive ones, and every time it was on a losing streak it was nothing but stress over "something must be wrong" even though nothing had changed internally between the two spikes of good/bad luck.

Keeping PPS is something I've done because it made sense.  It was more profitable for me.  But these days, I'm not concerned with maximum profit but instead trying to minimize risk.  My personal goal with BTC Guild has changed in the light of the non-stop "hacks" that major Bitcoin businesses claim to have happened, putting them out of business and screwing over their users.  While I personally believe most of those "hacks" were not hacks at all, it doesn't change the fact that the people who paid for it in the end were users, not the owners, who made off with lots of profit over the years.  In light of those events, my goals with BTC Guild have changed to make sure that if/when BTC Guild is closed down, it's on my own terms, and it's on a high note.  It seems like no Bitcoin business to date has actually shut down without their users suffering some kind of loss.

PPS is in stark contrast to that goal, since it includes a risk of bankruptcy, and increased risk of loss if the pool's hot wallet ever to be compromised.

Speaking of luck - is there a way to calculate the 24hr luck from info in the API?  I should probably be able to work it out but I didn't get any sleep last night. 

Sucks I just started mining a couple days ago, went with you and now I'm looking for another pool because I just can't mine without a steady pay. Hope everything works out.

Eleuthria,

I have never run PPS so it's a non event for me but it seems insane to me to have 6,200THs and have to lose sleep over getting wiped out because of bad luck.

The luck is what it is.  I have been mining since late last year and have never solved a block so bad luck is a relative term.  If I was solo my earnings would be 0.00BTC

People were not jumping back and forth.  Large miners understood the concept of variance, it was only small time miners jumping between them (and doing so was basically gambling, there never was any way to jump between them to guarantee higher payout).  The hot wallet problem with PPS is the fact that during sustained bad luck, the hot wallet is not refilling itself with new blocks but people are continuing to earn money and require coins in the hot wallet to be paid, meaning the hot wallet had to be kept MUCH higher than under a non-PPS method where block solves are the only way to have your balance increase.

   It seems like there may need to be a way to discourage people with the highest hash rates from jumping back and forth in payment methods and ride out the varience/luck. Maybe limiting the per worker hash rate on PPS to something equal to a pair of S1's or blades, if you have a faster rate then you have to open another worker . If they have to divide up the power of the equipment versus leaving it alone, you may have fewer people shifting back and forth if only because its a pain in the arse to switch their local set up. I only have a couple of Ant U2's and PPS is where I stay...steady consistancy...even if it means giving up a little in  the end.  OR  a slight(very slight) break in fees to those who declare a desired payment method   PPS or PPLNS and stick with it , a sort of reward based on User account controls and not the worker setting. This might make it easier to predict how large the wallet needs to be if only from knowing how consistant your base overall hashrate may stay on PPS or PPLNS.

seems fair.... I have no problem going all PPLNS. You have run a great pool for the community.
Thanks

I'm very likely to be removing PPS entirely, very soon at this rate.  I am NOT willing to continue LOSING money while running the 2nd largest Bitcoin pool.  In the long run PPS makes me a lot more money, but there are significant risks in it, specifically it requires a much larger hot wallet because bad luck doesn't mean people stop generating income, and the risk of bankruptcy.  The only time the pool has ever had significant losses (full hot wallet drained) was due to PPS and a change in behavior with Bitcoin 0.8, where I lost over 1200 BTC, all of which ended up coming out of my own pocket.  People may bitch about bad luck affecting their earnings, but it could be a lot worse:  I am actively *losing* money for the last 10 days from bad luck, and have to keep the hot wallet significantly larger than it would otherwise be by continuing to have PPS on the pool.

Are you planning to remove PPS entirely, or just he way it reports info on the top web banner?

Ok cool thanks for the explanation.
Cheers

If you switched to/from PPS, your 24-hour earnings will be broken for a while.  PPS is slowly being altered out on parts of the backend to make it easier to remove later on.

Using Internet Explorer?  Change your cache settings from "automatically" to "every visit to page".

Or use another browser.

M

My 24 hour stats are stuck at .68 btc
Any one else having this stat frozen? It has been like this for 2 days.

BTW I do not mine .68 per day. more like .075. Payouts are normal and I am getting the correct amount. It is just the stat that appears incorrect and frozen.

Well my 24hr average is on the way back up 0.0259478BTC … no idea what went wrong.

 

I think all created blocks are shown.  But who it assigns as the block solver won't always be accurate.

If you haven't seen this yet, please read it.

https://bitcointalksearch.org/topic/m.1329549

It _should_ even out in the end, but I agree, right now it's hurting pretty bad.

M