looking forward to this indeed. 
Topic: Eligius: 0% Fee BTC, 105% PPS NMC, No registration, CPPSRB - page 35. (Read 1061470 times)
Brilliant -wk looking forward to this indeed.
looking forward to this indeed. 
Popping in because a cron job I setup a while ago auto deleted a post by kano... not even sure what it was about... maybe I should make it include the content in the email notification I get. If it was useful, on topic, or didn't in some way bad mouth Eligius or myself I'd be pretty surprised anyway.
No, that wouldn't quite work out, unless perhaps Eligius was around 100% of the bitcoin network with exactly 50% of miners choosing each method..... neither of which is very likely to actually happen.
Suffice it to say the upcoming changes are not going to be able violate the law of large numbers or basic statistics and facts behind mining.... as much as I wish that were actually possible.
But it will be pretty much guaranteed to make all miners happy, regardless of their preferences.
On that note, I've arranged for some time off from my normal day job to work on implementing these new changes. Unlike other pool operators, running Eligius is not part of my occupation nor a source of any real income for me aside from the small amount of mining I do these days, of course. (Actually, lately I've been supporting Eligius at a loss, at my expense, since donations have not been sufficient to cover all hosting costs). So, I'm donating my time to make all of this happen... time I probably should be using to *actually* take a vacation. lol. But alas, my "vacation" will be spending more time at my desk working on code.
Again, thanks for the support everyone!
new method of payout sounds promising, if quite unclear.
my best guess is tat people who opt for sort-term PPS/PPLNS can get daily payouts at ~98%, while those who are comfortable waiting on solved blocks can get weekly payouts at ~102%
my best guess is tat people who opt for sort-term PPS/PPLNS can get daily payouts at ~98%, while those who are comfortable waiting on solved blocks can get weekly payouts at ~102%
No, that wouldn't quite work out, unless perhaps Eligius was around 100% of the bitcoin network with exactly 50% of miners choosing each method..... neither of which is very likely to actually happen.
Suffice it to say the upcoming changes are not going to be able violate the law of large numbers or basic statistics and facts behind mining.... as much as I wish that were actually possible.
But it will be pretty much guaranteed to make all miners happy, regardless of their preferences. On that note, I've arranged for some time off from my normal day job to work on implementing these new changes. Unlike other pool operators, running Eligius is not part of my occupation nor a source of any real income for me aside from the small amount of mining I do these days, of course. (Actually, lately I've been supporting Eligius at a loss, at my expense, since donations have not been sufficient to cover all hosting costs). So, I'm donating my time to make all of this happen... time I probably should be using to *actually* take a vacation. lol. But alas, my "vacation" will be spending more time at my desk working on code.
Again, thanks for the support everyone!
new method of payout sounds promising, if quite unclear.
my best guess is tat people who opt for sort-term PPS/PPLNS can get daily payouts at ~98%, while those who are comfortable waiting on solved blocks can get weekly payouts at ~102%
my best guess is tat people who opt for sort-term PPS/PPLNS can get daily payouts at ~98%, while those who are comfortable waiting on solved blocks can get weekly payouts at ~102%
That was a long one!
Seems like the time for.... "That's what she said."
Anyway, this was the second lowest luck block in Eligius-Ra's history. Worst was 10.7%. 1.6 *trillion* shares is definitely a record.
Let's hope we don't get close to breaking any of these records again any time soon!
Code:
1 hour 2016-04-07 20:16:38 307:50:51 1,637,436,063,744 178.68G 10.9% 6,345.80 Th
Never seen 10.9% luck before.. And almost 308 hours duration!!
That was a long one!
has the payout method changed in the last few months
never mind it is a block
never mind it is a block
Anyway, thank you to everyone who is sticking with us! It means a lot.
-wk
Been mining here for a few years and wouldn't let a bad round cause me to jump ship. Collecting clean coins .04 at a time!
Thanks again for the great pool.
Awesome, looking forward to finding out what this is about. I'm continuing to mine on Eligius regardless of this current block constipation
Thanks for all your hard work and dedication!
Thanks for all your hard work and dedication!
if it were any pool other than eligius i would be rolling my eyes.. eagerly anticipating this change.
I have no reason to doubt your honesty but a brand new reward method that no one has thought of before is a big claim, and I think that -- by the time you're able to post details -- there will be a lot of heated debate over what it could possibly be.
Maybe you could answer a pretty non specific sort of a question: Is it actually a new reward method or instead a way of reducing variance for just the pool (which you're then passing on to the miners)?
Maybe you could answer a pretty non specific sort of a question: Is it actually a new reward method or instead a way of reducing variance for just the pool (which you're then passing on to the miners)?
If it were pretty much anyone else asking, I would probably have to decline to comment..... but I think for now I'm going to have to just leave it at saying that it's going to be much more than just a different reward system.
I have no reason to doubt your honesty but a brand new reward method that no one has thought of before is a big claim, and I think that -- by the time you're able to post details -- there will be a lot of heated debate over what it could possibly be.
Maybe you could answer a pretty non specific sort of a question: Is it actually a new reward method or instead a way of reducing variance for just the pool (which you're then passing on to the miners)?
Maybe you could answer a pretty non specific sort of a question: Is it actually a new reward method or instead a way of reducing variance for just the pool (which you're then passing on to the miners)?
I can confirm wizkid057 isn't making this up (not that I think there's any reason to doubt him in the first place)
Greetings Eligius Miners,
It seems that the nature of the mining community has changed substantially since Eligius was started, and a lot of what pooled mining means to miners seems to have changed along the way. Eligius's CPPSRB reward system was designed to effectively reduce miner variance to be as close to straight PPS payouts as possible, and it does do so better than any other reward system. However, it seems that most miners today would much rather gamble on other reward systems with higher variance vs work towards steady low variance payouts. Not enough miners seem to appreciate the value of Eligius's reward system anymore, and it's unfortunate. In my opinion, pooled mining's purpose is to reduce variance as much as possible, but it seems that fewer and fewer miners share that opinion vs focusing on the gambling aspect of higher variance pools. There are are miners who still appreciate the low variance payouts of a PPS or PPS-like system such as Eligius's CPPSRB, however. I don't think any system that sits on one side or the other of the debate over variance is better than the other, but a matter of miner preference. Pretty much all miners seem to fall in one of those two categories today.
With all of that said, much brainstorming has gone on over the last few months to try and come up with a workable solution to this changing landscape for Eligius and its miners, and I believe I have what would appear to be the perfect solution, once implemented, to be beneficial to the miners who want steady low variance payouts and to the miners who forego a lower variance payout in exchange for the potential profits of a higher variance system. I can't go into details now, however, since, honestly, I'm pretty sure another pool or entity would just poach the idea and throw more resources at getting it implemented more quickly than Eligius has the volunteer resources to do. But, suffice it to say, once the system is completed and up and running Eligius will by far be the most advanced mining pool. Best of all, miners can be virtually guaranteed payouts that can be greater than any other mining pool with long term earnings that have the potential to significantly exceed 100% PPS over the long term, not just when luck allows. Sound too good to be true? Well it isn't... and that's why I can't give the details just yet.
When this is all done, I'd be very surprised if anyone wanted to use any other pool than Eligius. That's how excited and confident I am about this.
"But wk, how can this be? You can't pay miners more than 100% PPS without getting the extra money from somewhere!"
Well, that's part of the details that I won't share right now. No, Eligius isn't selling out. No, Eligius isn't going to be subsidizing this in any way. No, Eligius isn't going to be selling anything at all, actually.
Let's put it this way. This is probably one of the best ideas to hit the mining scene since... mining. I'm super excited about it. So much so that I'm going to be shifting my schedule around so that I can dedicate a significant amount of time to development starting very soon, at my own expense (time away from paid work). But I'm not willing to share the details right now. I can't. There are others with more time and resources available than I who are pretty much guaranteed to steal the entire premise for their own profit once I publicize it, and I can't let that happen. I'm not going to share any significant details much beyond what I am here until I'm basically ready to flip the switch ON. I can't take all of the credit for this, and I'll be giving credit where credit is due as details come out.
"OK, sounds awesome. But if you're not going to share details right now, why say anything at all?"
Because I want Eligius miners to know that something awesome is in the works, and that it's going to greatly benefit Eligius miners and the mining community in general. Also, there is going to be incentive for miners who are Eligius veterans when this idea is implemented, and I want all of the miners who continue to support Eligius to know that they are going to benefit from all of this very soon. I will have some perks as a thank you to those continuing to mine and support the pool when things are completed, so, don't give up on us just yet!
"Very soon? How soon is very soon?"
Assuming I can get my personal schedule modified as I plan to, I expect to have everything up and running within roughly a month. It's a substantial overhaul, and it's going to take a lot of time to complete.
"That's not very soon..."
When you see everything that's going to be done to make this happen, you'll understand that it's going to be a feat to make this happen in that time frame with the resources available to me.
"Sounds complicated."
Admittedly, yes... there's probably going to be a little bit of a learning curve for everyone to take advantage of all of the benefits afforded by the new additions to the pool. I'm going to try to make sure everything is explained very clearly. Additionally, I have a friend who is going to work on professional translations of various portions of the website soon after these changes are implemented. But, overall, you won't *need* to do anything different to benefit from all of this.
"I'm sold. What do I have to do?"
Just keep mining and supporting Eligius, and you will be among the first to benefit from the changes.
"I think you're just BS'ing just to get attention/get more miners/take over the world/etc"
You're welcome to believe what you like. I'm not, however, and when you see how things are going to work later you're going to be kicking yourself for not getting on board sooner. I think my personal track record in the community should show that I'm definitely not the type to go around trolling.
"But but! Tell me more!"
I can't! I realllllly want to, though. I really do, but unfortunately the community in general just can not be trusted not to snatch up the idea and exploit it for greedy purposes before I can get things implemented at Eligius. At Eligius mining is and shall continue to be no-fees, but the pools who benefit greatly from their fees will have a lot incentive to implement this as soon as they hear about it... and honestly, I'm not here to help them line their pockets. I want miners to line their own pockets!
"But if it's really that great they're going to steal the idea after you implement it anyway, so, what's the difference?"
Because Eligius is not-for-profit, with no mining fees, it's still going to be the best and most profitable pool to use under this system, and I want to make sure people get a chance to do that before others jump on the bandwagon, which can't really happen overnight anyway. I welcome the competition, since mining should be as decentralized as possible, but admittedly, this is certainly going to put Eligius back towards the top of the charts, which will benefit the entire bitcoin mining community as a whole.
"Seriously, this sounds like a scam."
No scams. There's no direct benefit to me by doing so. I'm basically volunteering considerable time and effort to make this happen. I don't profit from operating the pool, nor will I when this is done. I've no motives other than I'm very excited to make this happen and want to contribute to community by doing so. The benefit to me is that I'll still be mining on the best possible pool.
OK, that's enough Q/A for now. Feel free to ask questions, but don't be offended if I won't answer everything. And please don't spam this thread with nonsense.
With that... I'm getting to work!
-wk
TLDR version: Eligius is getting some major upgrades over the next month to bring it back towards the forefront of the mining community, with details to come as things get closer.
It seems that the nature of the mining community has changed substantially since Eligius was started, and a lot of what pooled mining means to miners seems to have changed along the way. Eligius's CPPSRB reward system was designed to effectively reduce miner variance to be as close to straight PPS payouts as possible, and it does do so better than any other reward system. However, it seems that most miners today would much rather gamble on other reward systems with higher variance vs work towards steady low variance payouts. Not enough miners seem to appreciate the value of Eligius's reward system anymore, and it's unfortunate. In my opinion, pooled mining's purpose is to reduce variance as much as possible, but it seems that fewer and fewer miners share that opinion vs focusing on the gambling aspect of higher variance pools. There are are miners who still appreciate the low variance payouts of a PPS or PPS-like system such as Eligius's CPPSRB, however. I don't think any system that sits on one side or the other of the debate over variance is better than the other, but a matter of miner preference. Pretty much all miners seem to fall in one of those two categories today.
With all of that said, much brainstorming has gone on over the last few months to try and come up with a workable solution to this changing landscape for Eligius and its miners, and I believe I have what would appear to be the perfect solution, once implemented, to be beneficial to the miners who want steady low variance payouts and to the miners who forego a lower variance payout in exchange for the potential profits of a higher variance system. I can't go into details now, however, since, honestly, I'm pretty sure another pool or entity would just poach the idea and throw more resources at getting it implemented more quickly than Eligius has the volunteer resources to do. But, suffice it to say, once the system is completed and up and running Eligius will by far be the most advanced mining pool. Best of all, miners can be virtually guaranteed payouts that can be greater than any other mining pool with long term earnings that have the potential to significantly exceed 100% PPS over the long term, not just when luck allows. Sound too good to be true? Well it isn't... and that's why I can't give the details just yet.
When this is all done, I'd be very surprised if anyone wanted to use any other pool than Eligius. That's how excited and confident I am about this.
"But wk, how can this be? You can't pay miners more than 100% PPS without getting the extra money from somewhere!"
Well, that's part of the details that I won't share right now. No, Eligius isn't selling out. No, Eligius isn't going to be subsidizing this in any way. No, Eligius isn't going to be selling anything at all, actually.
Let's put it this way. This is probably one of the best ideas to hit the mining scene since... mining. I'm super excited about it. So much so that I'm going to be shifting my schedule around so that I can dedicate a significant amount of time to development starting very soon, at my own expense (time away from paid work). But I'm not willing to share the details right now. I can't. There are others with more time and resources available than I who are pretty much guaranteed to steal the entire premise for their own profit once I publicize it, and I can't let that happen. I'm not going to share any significant details much beyond what I am here until I'm basically ready to flip the switch ON. I can't take all of the credit for this, and I'll be giving credit where credit is due as details come out.
"OK, sounds awesome. But if you're not going to share details right now, why say anything at all?"
Because I want Eligius miners to know that something awesome is in the works, and that it's going to greatly benefit Eligius miners and the mining community in general. Also, there is going to be incentive for miners who are Eligius veterans when this idea is implemented, and I want all of the miners who continue to support Eligius to know that they are going to benefit from all of this very soon. I will have some perks as a thank you to those continuing to mine and support the pool when things are completed, so, don't give up on us just yet!
"Very soon? How soon is very soon?"
Assuming I can get my personal schedule modified as I plan to, I expect to have everything up and running within roughly a month. It's a substantial overhaul, and it's going to take a lot of time to complete.
"That's not very soon..."
When you see everything that's going to be done to make this happen, you'll understand that it's going to be a feat to make this happen in that time frame with the resources available to me.
"Sounds complicated."
Admittedly, yes... there's probably going to be a little bit of a learning curve for everyone to take advantage of all of the benefits afforded by the new additions to the pool. I'm going to try to make sure everything is explained very clearly. Additionally, I have a friend who is going to work on professional translations of various portions of the website soon after these changes are implemented. But, overall, you won't *need* to do anything different to benefit from all of this.
"I'm sold. What do I have to do?"
Just keep mining and supporting Eligius, and you will be among the first to benefit from the changes.
"I think you're just BS'ing just to get attention/get more miners/take over the world/etc"
You're welcome to believe what you like. I'm not, however, and when you see how things are going to work later you're going to be kicking yourself for not getting on board sooner. I think my personal track record in the community should show that I'm definitely not the type to go around trolling.
"But but! Tell me more!"
I can't! I realllllly want to, though. I really do, but unfortunately the community in general just can not be trusted not to snatch up the idea and exploit it for greedy purposes before I can get things implemented at Eligius. At Eligius mining is and shall continue to be no-fees, but the pools who benefit greatly from their fees will have a lot incentive to implement this as soon as they hear about it... and honestly, I'm not here to help them line their pockets. I want miners to line their own pockets!
"But if it's really that great they're going to steal the idea after you implement it anyway, so, what's the difference?"
Because Eligius is not-for-profit, with no mining fees, it's still going to be the best and most profitable pool to use under this system, and I want to make sure people get a chance to do that before others jump on the bandwagon, which can't really happen overnight anyway. I welcome the competition, since mining should be as decentralized as possible, but admittedly, this is certainly going to put Eligius back towards the top of the charts, which will benefit the entire bitcoin mining community as a whole.
"Seriously, this sounds like a scam."
No scams. There's no direct benefit to me by doing so. I'm basically volunteering considerable time and effort to make this happen. I don't profit from operating the pool, nor will I when this is done. I've no motives other than I'm very excited to make this happen and want to contribute to community by doing so. The benefit to me is that I'll still be mining on the best possible pool.
OK, that's enough Q/A for now. Feel free to ask questions, but don't be offended if I won't answer everything. And please don't spam this thread with nonsense.
With that... I'm getting to work!
-wk
TLDR version: Eligius is getting some major upgrades over the next month to bring it back towards the forefront of the mining community, with details to come as things get closer.
Ouch. Round is at nearly 260hrs, we all need to do a lucky Block dance or something. 
Thanks for your hard work though wizkid, I have no complaints on how the pool is running, I'll be sticking with Eligius regardless of unlucky rounds.
Thanks for your hard work though wizkid, I have no complaints on how the pool is running, I'll be sticking with Eligius regardless of unlucky rounds.
i agree, i think the pool is needed and somehow i lucked out with broken miners during this dry spell.. so no wasted hash here really.
but its sad to see, is the pool broken too?
but its sad to see, is the pool broken too?
Pool is not broken. Everything is up and running and working fine.
i agree, i think the pool is needed and somehow i lucked out with broken miners during this dry spell.. so no wasted hash here really.
but its sad to see, is the pool broken too?
but its sad to see, is the pool broken too?
...
But, whatever. I will continue to run Eligius indefinitely, down to the last miner. Hopefully we can gain some more traction in this fight, but I'm unsure exactly where to put efforts to best serve that purpose. I have many revisions and updates in store for the pool, including the best and most detailed public stats API ever conceived in the works. It's been quite a long road, but I'm not about to just stand by while people leave Eligius and line the pockets of unscrupulous pool ops. I've been fighting that fight since day 1 here, so no point in giving up now. And keep in mind that I run Eligius 100% on donations, and I don't make a dime off of the pool besides my own normal mining (which is very little these days, admittedly).
Anyway, thank you to everyone who is sticking with us! It means a lot.
-wk
But, whatever. I will continue to run Eligius indefinitely, down to the last miner. Hopefully we can gain some more traction in this fight, but I'm unsure exactly where to put efforts to best serve that purpose. I have many revisions and updates in store for the pool, including the best and most detailed public stats API ever conceived in the works. It's been quite a long road, but I'm not about to just stand by while people leave Eligius and line the pockets of unscrupulous pool ops. I've been fighting that fight since day 1 here, so no point in giving up now. And keep in mind that I run Eligius 100% on donations, and I don't make a dime off of the pool besides my own normal mining (which is very little these days, admittedly).
Anyway, thank you to everyone who is sticking with us! It means a lot.
-wk
Well said,
I'm mining here for the last 2 years now, had some blocks back in the days, but now is tough to keep up with the mining power. Anyway I believe that we as a community need this pool, and will continue to throw any hashrate left to eligius.
I appreciate the info
thumbs up from me.
thumbs up from me.
Your efforts are appreciated.
Thanks.
Deleted a couple more not helpful posts. Nothing personal against the posters (except for the few who blatantly said things outright against me and the pool for no reason), just keeping things on topic here.
Yes, the current round sucks. We all know it. Repeatedly posting about it isnt going to change that.
If it would, I'd be posting constantly. lol. Jump to: