MTRED buffer from 12 October 2011 until bankruptcy is -33.68262 btc.
data here: http://www.bitbin.it/YsYg9VtP
Topic: [CLOSED] MtRed (PPS, LP+, API, 0 FEE) STRATUM on mine.mtred.com:3333 - page 4. (Read 176214 times)
April 12, 2013, 05:47:32 AM
OK, stats fixed. Sorry folk!
MTRED buffer from 12 October 2011 until bankruptcy is -33.68262 btc.
data here: http://www.bitbin.it/YsYg9VtP
MTRED buffer from 12 October 2011 until bankruptcy is -33.68262 btc.
data here: http://www.bitbin.it/YsYg9VtP
April 12, 2013, 05:19:55 AM
Reanalysing the pool stats and placing the start of PPS at 12th October, I put the buffer at -457.47388392 btc
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
Not sure what you're using for your stats, but, mine are run from the first block listed to 02/06/2013... did you account for 50 BTC blocks?
I ran the block heights and given coinbase transaction ids for every block against the blockchain and determined orphaned blocks, subsidy, and such using that data.
Edit: Here is the data used to compile my graphs: http://vpn.wizkid057.com/mtred_block_data_v2.csv ... if I screwed up somewhere, accept my appolgies in advance, however, I do believe the data is sound.
I can see what you've done, I think. You've included all blocks from the start of the pool. But MTRED was only PPS from 12th October 2012 (edit:2011, dammit! Now I have to do over grumbles). Prior to that it was Proportional, and so you can't include that time when you're calculating the buffer.
April 12, 2013, 04:46:47 AM
Reanalysing the pool stats and placing the start of PPS at 12th October, I put the buffer at -457.47388392 btc
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
Not sure what you're using for your stats, but, mine are run from the first block listed to 02/06/2013... did you account for 50 BTC blocks?
I ran the block heights and given coinbase transaction ids for every block against the blockchain and determined orphaned blocks, subsidy, and such using that data.
Edit: Here is the data used to compile my graphs: http://vpn.wizkid057.com/mtred_block_data_v2.csv ... if I screwed up somewhere, accept my appolgies in advance, however, I do believe the data is sound.
April 12, 2013, 04:19:03 AM
Reanalysing the pool stats and placing the start of PPS at 12th October, I put the buffer at -457.47388392 btc
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
redditorex was being quite honest, folks. wizkid057, mind checking your stats and updating your (much more fun with which to play) charts?
April 12, 2013, 03:56:24 AM
I just feel the need to point out that the stats I calculated (at a MtRed miner's request) about MtRed showed that, as of not long ago, they would have had about a 1500 BTC buffer at that time. MtRed luck has not been bad enough to drain a 1500 BTC buffer at the difficulties we've been at lately. And there were only a few (6?) orphaned blocks in that time period.
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
Did you maybe include NMC blocks?
Edit:
FWIW, taking out NMC and accounting for orphans, I get a positive buffer of ~ 295btc.
I remember selling BTC at $5 (50 of them one time to pay a $250 bill, day before yesterday 1BTC would have covered that bill) to help pay my server fees..... if you don't factor that stuff in the "stats I calculated" don't really mean much imo...
Pool op is only supposed to use his own money and donations/fees to pay server costs, not the buffer.
Saying the pool is bankrupt when there's supposed to be a positive buffer is either:
1. A poor explanation if redditorrex actually meant that *he* had run out of donation money to run the pool servers;
2. redditorrex was using buffer money to cover server costs with intention of paying back later.
Either way, this is why we don't find more zero fee pps pools.
Edit Sorry graet, sounded a bit harsher than I wanted it to. But although I feel for redditorrex and I think he's a standup guy, this could all have been avoided if he'd charged a fee - better yet, a fee and split the pool like Ozcoin.
I get a bit pissed at miners using a 0% PPS pool and then getting all whiney when it goes bankrupt. I and lots of others (you included) have been warning all and sundry about the dangers of zero fee pools in general, let alone a zero fee PPS pool, for a good while.
Edit 2: I'll have to redo my stats anyway - I was counting from when the pool started, not when it changed to PPS.
April 12, 2013, 03:32:39 AM
I just feel the need to point out that the stats I calculated (at a MtRed miner's request) about MtRed showed that, as of not long ago, they would have had about a 1500 BTC buffer at that time. MtRed luck has not been bad enough to drain a 1500 BTC buffer at the difficulties we've been at lately. And there were only a few (6?) orphaned blocks in that time period.
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
Did you maybe include NMC blocks?
Edit:
FWIW, taking out NMC and accounting for orphans, I get a positive buffer of ~ 295btc.
I remember selling BTC at $5 (50 of them one time to pay a $250 bill, day before yesterday 1BTC would have covered that bill) to help pay my server fees..... if you don't factor that stuff in the "stats I calculated" don't really mean much imo...
April 12, 2013, 03:02:11 AM
I just feel the need to point out that the stats I calculated (at a MtRed miner's request) about MtRed showed that, as of not long ago, they would have had about a 1500 BTC buffer at that time. MtRed luck has not been bad enough to drain a 1500 BTC buffer at the difficulties we've been at lately. And there were only a few (6?) orphaned blocks in that time period.
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
Did you maybe include NMC blocks?
Edit:
FWIW, taking out NMC and accounting for orphans, I get a positive buffer of ~ 295btc.
April 12, 2013, 12:05:53 AM
I just feel the need to point out that the stats I calculated (at a MtRed miner's request) about MtRed showed that, as of not long ago, they would have had about a 1500 BTC buffer at that time. MtRed luck has not been bad enough to drain a 1500 BTC buffer at the difficulties we've been at lately. And there were only a few (6?) orphaned blocks in that time period.
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
To me, it seems more likely that the pool cashed out while the USD price was high, no? Hell of a coincidence that the pool closes the day the price reaches an all time high? Either that or cashed out a while back and didn't have a buffer anymore. No way to know, since that data isn't really public.
But, all and all, I hope people don't give too much praise here. Feel free to run the numbers yourself.
-wk
April 11, 2013, 11:56:50 AM
Aye, it was on irc he said estimate will be paid (which is nice, but if it didn't happen I don't think many would get too perturbed)
April 11, 2013, 11:22:26 AM
Not sure if people just aren't reading or didn't see, but he moved half the balance to processing which he is going to release in about a weeks time (give or take). He also said estimated for the last long round will be paid.
I think the half balance available is all the pool really has left. I think he is giving it all out first come first serve with limitations to give everyone a chance to get their share of that half. I think he will cover latecomers withdrawing beyond the half of what is owed that is already available using BTC donated to MtRed to the extent possible. I do not think he even tried to imply that everyone (or even anyone) would get 100%.Hey guys, It saddens me to announce that MtRed will be shutting down.
We are, with this current block, going to surpass a negative buffer half of what is owed to miners. We have had a negative buffer for a while now, not this bad, but with the price soaring well over $200 USD per coin I can not allow this to continue. It was always the plan that if the buffer ever went to half of what is owed that we would shutdown. Up until January I probably would have been able to cover such an event out of pocket, but I must admit that is not possible today.
How did it get this bad? Two main reasons, programming incompetence on my part has overpaid a vast amount of BTC over the last 2 years, and server bills upwards of $700. During which times Bitcoin prices were steady but low compared to today. These factors plus the very unlikely sustainability of running a 0% fee PPS pool, and my naive experience in running something as large as MtRed are what I believe is why I have failed you.
In order to spread remaining funds as equally to the miners as we can, certain actions will be taken over the course of the next two months.
The plan to release the remaining Bitcoins is as follow.
You will have two weeks to withdraw the first half of your balances. After the two weeks, you will be able to withdraw the remaining half of your balance. After that, for those who didn't withdraw in the first two weeks will be able to withdraw their remaining balance. As the pool balances reaches zero I will import the 1MtRed account and pay off remain withdraws with that.
Reviewing the code, the orphan was credited, but wasn't subtracted from the processing balance. But in the coming weeks we will be using the processing field to store your remain balance.
Payouts will begin this evening.
Again, I am truly sorry to have failed the MtRed miners, the Bitcoin community, and myself.
-RR
We are, with this current block, going to surpass a negative buffer half of what is owed to miners. We have had a negative buffer for a while now, not this bad, but with the price soaring well over $200 USD per coin I can not allow this to continue. It was always the plan that if the buffer ever went to half of what is owed that we would shutdown. Up until January I probably would have been able to cover such an event out of pocket, but I must admit that is not possible today.
How did it get this bad? Two main reasons, programming incompetence on my part has overpaid a vast amount of BTC over the last 2 years, and server bills upwards of $700. During which times Bitcoin prices were steady but low compared to today. These factors plus the very unlikely sustainability of running a 0% fee PPS pool, and my naive experience in running something as large as MtRed are what I believe is why I have failed you.
In order to spread remaining funds as equally to the miners as we can, certain actions will be taken over the course of the next two months.
The plan to release the remaining Bitcoins is as follow.
You will have two weeks to withdraw the first half of your balances. After the two weeks, you will be able to withdraw the remaining half of your balance. After that, for those who didn't withdraw in the first two weeks will be able to withdraw their remaining balance. As the pool balances reaches zero I will import the 1MtRed account and pay off remain withdraws with that.
Reviewing the code, the orphan was credited, but wasn't subtracted from the processing balance. But in the coming weeks we will be using the processing field to store your remain balance.
Payouts will begin this evening.
Again, I am truly sorry to have failed the MtRed miners, the Bitcoin community, and myself.
-RR
April 11, 2013, 10:22:40 AM
Not sure if people just aren't reading or didn't see, but he moved half the balance to processing which he is going to release in about a weeks time (give or take). He also said estimated for the last long round will be paid.
Wow.. i need to drink more coffee i think.. missed it
Cheers
April 11, 2013, 09:58:48 AM
Not sure if people just aren't reading or didn't see, but he moved half the balance to processing which he is going to release in about a weeks time (give or take). He also said estimated for the last long round will be paid.
April 11, 2013, 09:55:18 AM
Yup. Balance cut in half. I used this as a backup pool.
April 11, 2013, 07:54:48 AM
What about Namecoin? I've had a balance I've been trying to withdraw for some time, but a bug on the website prevents it.
It keeps saying I don't have enough bitcoins to withdraw
It keeps saying I don't have enough bitcoins to withdraw
April 11, 2013, 06:57:57 AM
Cannot make sense of my balance either - this stings...
April 11, 2013, 05:14:58 AM
Quote
Balance 0
Estimation 5.41265156
Round Work 1,661,251
Estimation 5.41265156
Round Work 1,661,251
Aaaaaand... it's gone!
5.4btc loss. But what is really bad, this was the last 'sane' pool.
Thanks for your efforts and time, rr.
How is "No fee PPS" sane?
April 11, 2013, 03:59:46 AM
Quote
Balance 0
Estimation 5.41265156
Round Work 1,661,251
Estimation 5.41265156
Round Work 1,661,251
Aaaaaand... it's gone!
5.4btc loss. But what is really bad, this was the last 'sane' pool.
Thanks for your efforts and time, rr.
You will get your money back, stick around.
April 11, 2013, 03:49:48 AM
Quote
Balance 0
Estimation 5.41265156
Round Work 1,661,251
Estimation 5.41265156
Round Work 1,661,251
Aaaaaand... it's gone!
5.4btc loss. But what is really bad, this was the last 'sane' pool.
Thanks for your efforts and time, rr.
April 11, 2013, 03:13:59 AM
Sorry to see you go...
April 11, 2013, 02:36:50 AM
I was able to withdraw my first half. Thanks RedditorRex! I'm sorry to see MtRed go 
Jump to: