Topic: Eligius: 0% Fee BTC, 105% PPS NMC, No registration, CPPSRB - page 239. (Read 1061449 times)

I think it takes everyone a little while to figure out the payout queue and how it works, I know I did.

Just for a little more clarification: if you check the first bunch of addresses in the queue, you'll see those that are a month old or so are usually idle miners and these people are being paid their last payout. These might contain some older shelved shares which is why they look like they've been waiting for ages. Once you start to reach addresses '3 days' into the payout queue; those are usually smaller hashrate miners who've set their payout limit higher than their daily earnings so get a payment every couple of days. After that it looks like around 80% of the queue has only been waiting 20hrs or less.

Eligius also pays directly from mined coins and doesn't ever go into negative balance in order to support itself independent of external capital input, so that 18 block delay is like a buffer to make sure the pool doesn't pay out more than it has or go bankrupt. During times of bad luck the queue can grow longer, but a few lucky rounds usually clears things up quickly.

Hopefully that helps some better understand the payout queue, but that is what I've come to understand through my limited time studying it, I no longer bother as I've never been burned by waiting for payments and I've been here for a few months now. If I've stated anything incorrectly, please someone chime in and let me know.

It's wrong. The stats show what it believes to be true right this minute. I've been here for about three months now, and aside from this recent run of luck with the front end, it's been paid within an hour of my threshold almost every time. When it does get fubar, Wizkid always does a manual payout as soon as the system is caught up. Like within minutes sometimes. The longest I ever saw it go was two days past my payout threshold. For the guys with big hashpower, that may have equated to 3-4 DAYS delay. Not months.

In my time here there have been zero problems with the server regardless of what the stats page was doing. This recent one where the namecoins got jacked has been the worst I've seen, and that's minor. (though still unfixed on my setup )

I guess you do not understand the concept of a pool.  Every payment you get when you do not find a block is the counter argument.  There have been pools that paid the actual finder of the block a little more which reduces everyone elses payment.  So if you prefer that type of pool go ahead.  Or you can mine here and make a small 1000-1 odds bet at Satoshi dice each day if you want that extra thrill. 

Thanks, my newness to this pool is showing.

However, the payout queue does say there is 438 BTC waiting to be paid out in 18 blocks.  Maybe that's not a lot to you, but it is a huge amount to me.

M

The time shown in the payout queue is slightly misleading. What it is actually showing is the time of the first share accepted after their last payout. It's effectively the date of their last payout. So, if I get a payout every couple of days; when I hit my payout limit, I'll be pushed into the queue ahead of those who get a payout every day.

Because they hadn't met their configured minimum payouts sooner.

According to the current payout queue, the top 5 are 1+ month old.  And I think someone stated that there was finally a payout recently where a LOT of folks were finally paid.  So I'm not sure the "months" statement is wrong.  (But I am new here..)

M

Some of you really need to get a grasp on what's going on.

The servers for the pool itself have been solidly operating for ...months?  Someone correct me if I'm wrong here.  I think there was a very small pool outage for a few minutes time like maybe 4 or 5 months ago.  Other than that, the pool itself has been utterly solid.  Shares are being accepted and work is flowing as it should to the miners.  

The server for the front end stats has had some issues from time to time.  I, for one, care not.  Are there miners out there that only monitor their hardware via pool statistics?  That seems backasswards to me.

There have also been a few small delays in payouts.  I read one post here recently that suggested the delay was months?  Maybe I misread it.

Uh.....no.  The delay has been - AT MOST - a few days time.  

If that's putting anyone here in a bind.... ouch.  Just ouch.  Anyone in that situation, post an address.  I have some gratis coupons to fast food joints I'll mail you and some boxes of stuff from our recent Subscribe and Save order, because you're probably near homeless and starving?

You are now blacklisted from Eligius and Hop Sing's for naming names.  

The pool I'm using just got 3orphans blocks.. so annoying!

I'll go solo mining with 300kh/s

Tried the pool out last night, had a nice solid connection but the payout method concerns me.

an exciting experiment. I think difficulty decrease is inevitable - well, eventually; hence why I i'll be stashing away my old rig when it becomes a loss leader (not long to go now!) I see friends cutting their losses and selling their old 130nm mining equipment off, but i'm hedging my bets on this, i'll still be mining for the very last 0.00000001 transaction fee, because i'm a geek and I believe in the long term value. Eventually, the big farms will be forced to switch off and - here's my hope - their respective governments sting them a whacking great tax on the recycling of electronic goods. That'll teach them for being so greedy  one can but hope.

I agree about tx fees having to be smaller.  The hope is the volume of tx fees increases to keep the incentive there for miners.  Of course what could happen is as the block rewards continues to halve, if transaction volume doesn't increase, the incentive to mine decreases, which should lead to a decrease in difficulty.  But, as Gavin says, we don't know what's going to happen.  It's an experiment.

M

I agree with you in most of what you say, being my own preference to now mine on a DGM pool, whether better or worse, is a choice i've recently taken. With regards to the finders bonus, well, for me it is irrelevant really, for the specific reasons you state above; with only 170GH/s I am too small and will never be a block finder under current and future difficulty - except for some freakish luck, which I doubt will ever occur. But isn't it the case, as BTC price rises, tx fees need to be smaller - nobody wants to be paying an exponential fee to send bitcoins. this would in the end make it cheaper to use a credit card for purchases, which goes against the purpose intended for bitcoin in the first instance?

I'll remain with my thinking that giving the block finder a bonus is a good thing, even though I will never see that bonus personally, I think it gives extra incentive to mine.

I'm sorry, I misread what you wrote.

I suggest p2pool do the same... and was promptly informed that it goes against the purpose of Bitcoin.  As time goes by (as each halving occurs), the blockreward for miners decreases.  That means the incentive to mine relies upon transaction fees increasing.  Which means any pool that distributes transaction fees to the finder is going to have a problem.

I agree it'd be nice for the block finder to get some sort of reward ... however in the day and age of 4.2billion BTC difficulty, the only way little guys can stay in are with an even (yet proportional) distribution among all pool members.  Otherwise it'll just be the big guys, which will likely be corporations.

M

I never said anything about Eligius not paying tx fees. So yes it should be accurate and I'm not going to speculate on differences of opinion.
The actual difference lies in the fact that tx fees are divided on Eligius, on BP, all tx fees are paid as a bonus to the block finder. i merely mentioned this, as TodaysGandalf seemed to have a minor issue with the fact that he was a block finder, and received no bonus reward for being. BP addresses this.

I don't follow?  Eligius's home page says this:


Is that not accurate?

M

You hit the nail on the head so many points. Someone obviously doesn't realise where his payments have been coming from for all those weeks where he hasn't 'done all the hard work' and found a block. On a side note, I don't believe Ozcoin offers POT anymore, it does still mention POT on the home page which I think this just hasn't been updated in forever, the actual user configurable pool options state:
Not sure if any other pools offer POT?

The reality for me is donating is a faff.
Happy to pay a fee if things improve but for now have moved my 3th because I want regular payouts and stable stats.
Would prefer to stay as I have a lot of respect for the work lkj and WK carry out "as a hobby".
Look forward to a default fee and the inevitable improvements.