[HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 155.

mikemikemike

copper member

Activity: 224

Merit: 100

Quote from: Collider on April 23, 2014, 10:12:15 AM

Quote

P2pool is the way to go. If they install the daemons for ALL of the coins that support merged mining we will make more than we are with ghash. Yes, there is a variance with payouts, but we are on a weekly dividend schedule, and if 1 weeks dividends are lower because of variance than the next weeks is likely to be higher to make up for it.

As far as programming software, NO you don't need to. Bitcoind supports mining, all you have to do is point all of your miners at a local ip address once its setup. Its not that big of a deal and for the guys managing/installing the hardware for petamine, it would be a walk in the park.

I do agree that if we decide to split the hashrate at some point, it would be nice to atleast have some at p2pool, as it is a great concept.

The reason why we should try to have as little variance as possible, is to not add further reasons for price speculation to the mix, it is already complicated enough.

I was not talking about programming a standard miner software to run the blockchain and mine directly on it, i was talking about more complicated management software.
This concerns individual miner monitoring etc., right now this can easily be done via gh.io on a per worker basis (and other features too), if a machine has a problem you will know it.

Many existing features that gh.io or indeed any pool offers us right now would have to be built on our own.

Pooled mining also eases the way for Cryptx´ maximum transparency, as anyone can view stats, etc.

Finally, i think it is important to not try to fix problems that currently (and most likely in the future) dont exist. Have cryptx focus their energy on delivering amazing hashpower!

+1 +2 +3

Collider

hero member

Activity: 714

Merit: 500

Quote

P2pool is the way to go. If they install the daemons for ALL of the coins that support merged mining we will make more than we are with ghash. Yes, there is a variance with payouts, but we are on a weekly dividend schedule, and if 1 weeks dividends are lower because of variance than the next weeks is likely to be higher to make up for it.

As far as programming software, NO you don't need to. Bitcoind supports mining, all you have to do is point all of your miners at a local ip address once its setup. Its not that big of a deal and for the guys managing/installing the hardware for petamine, it would be a walk in the park.

I do agree that if we decide to split the hashrate at some point, it would be nice to atleast have some at p2pool, as it is a great concept.

The reason why we should try to have as little variance as possible, is to not add further reasons for price speculation to the mix, it is already complicated enough.

I was not talking about programming a standard miner software to run the blockchain and mine directly on it, i was talking about more complicated management software.
This concerns individual miner monitoring etc., right now this can easily be done via gh.io on a per worker basis (and other features too), if a machine has a problem you will know it.

Many existing features that gh.io or indeed any pool offers us right now would have to be built on our own.

Pooled mining also eases the way for Cryptx´ maximum transparency, as anyone can view stats, etc.

Finally, i think it is important to not try to fix problems that currently (and most likely in the future) dont exist. Have cryptx focus their energy on delivering amazing hashpower!

rdyoung

legendary

Activity: 994

Merit: 1000

Quote from: Collider on April 23, 2014, 09:56:15 AM

Concerning solomining:

There is absolutely no financial advantage of going solo - there is even a disadvantage:

- currently we merge-mine various altcoins, giving us ~ + 2/3% more income
- Gh.io pays transaction costs to miners
- Gh.io has an interface API, so we can make cool stats and speedometers that we max out Wink

I saw what happens when a mining operation decides to go solo... it wasn´t nice... (the example was 100th project which had 500th in November... and that wasn´t going too well)

- you have more variance in your rewards/ payouts, making it very hard to tell what the actual hashrate is
- you need to program a solomining software for your needs
- if you produce a problem anywhere in that code, best case scenario: you get lower dividens, worst case: someone manages to breach your security and gets your dividends...
- the reward would actually be lower, as no merged mining would occur.

I hope that settles the questions concerning this topic, feel free to ask additional ones though.

PS: I prefer a failover strategy with pooled mining from a simplicity standpoint. However, splitting hashrate between pools that offer equal advantages has benefits too.

P2pool is the way to go. If they install the daemons for ALL of the coins that support merged mining we will make more than we are with ghash. Yes, there is a variance with payouts, but we are on a weekly dividend schedule, and if 1 weeks dividends are lower because of variance than the next weeks is likely to be higher to make up for it.

As far as programming software, NO you don't need to. Bitcoind supports mining, all you have to do is point all of your miners at a local ip address once its setup. Its not that big of a deal and for the guys managing/installing the hardware for petamine, it would be a walk in the park.

Collider

hero member

Activity: 714

Merit: 500

Concerning solomining:

There is absolutely no financial advantage of going solo - there is even a disadvantage:

- currently we merge-mine various altcoins, giving us ~ + 2/3% more income
- Gh.io pays transaction costs to miners (same as solo)
- Gh.io has an interface API, so we can make cool stats and speedometers that we max out Wink

I saw what happens when a mining operation decides to go solo... it wasn´t nice... (the example was 100th project which had 500th in November... and that wasn´t going too well)

- you have more variance in your rewards/ payouts, making it very hard to tell what the actual hashrate is
- you need to program a solomining software for your needs
- if you produce a problem anywhere in that code, best case scenario: you get lower dividens, worst case: someone manages to breach your security and gets your dividends...
- the reward would actually be lower, as no merged mining would occur.

I hope that settles the questions concerning this topic, feel free to ask additional ones though.

PS: I prefer a failover strategy with pooled mining from a simplicity standpoint. However, splitting hashrate between pools that offer equal advantages has benefits too.

Wayne_Chang

sr. member

Activity: 448

Merit: 250

It time for PETA to update its speedometer now.

rdyoung

legendary

Activity: 994

Merit: 1000

Quote from: Foebar on April 23, 2014, 09:17:31 AM

Quote from: altoidmintz on April 23, 2014, 08:41:44 AM

Quote from: Foebar on April 23, 2014, 06:51:53 AM

without detailed calculations : I think we still have insufficient mining power to go with luck into finding blocks ourselves

@ 350 Th/s : Average generation time for a block : 23 hours, 47 minutes

2 What's wrong with 1 block each day on average? Seems fine to me.

1 block on average is fine by me, but if we have a bad luck string, it could be several days without a block.
that could hurt our divs at the moment.

We should first try to get around 1,5 to 2% of total hash rate before thinking to go solo.

With a lot of luck we could also generate above average and have nice divs, but with current calcs I think it could be tricky.
But hey, it's not up to me, it's up to all of us

I believe I have said it before, they can run a local p2pool node. They can install the daemons for all of the mergeable coins.
We would get a block or so a day, and with weekly divs thats fine, and as they increase power the # of blocks a day will definitely increase.

Disclaimer: I have another investment that is using P2Pool and having peta support would be huge for p2pool.

mikemikemike

copper member

Activity: 224

Merit: 100

Quote from: Foebar on April 23, 2014, 09:17:31 AM

Quote from: altoidmintz on April 23, 2014, 08:41:44 AM

Quote from: Foebar on April 23, 2014, 06:51:53 AM

without detailed calculations : I think we still have insufficient mining power to go with luck into finding blocks ourselves

@ 350 Th/s : Average generation time for a block : 23 hours, 47 minutes

2 What's wrong with 1 block each day on average? Seems fine to me.

1 block on average is fine by me, but if we have a bad luck string, it could be several days without a block.
that could hurt our divs at the moment.

We should first try to get around 1,5 to 2% of total hash rate before thinking to go solo.

With a lot of luck we could also generate above average and have nice divs, but with current calcs I think it could be tricky.
But hey, it's not up to me, it's up to all of us

Nah. It's up to CryptX. They'll know what's best.

Foebar

full member

Activity: 156

Merit: 100

Quote from: altoidmintz on April 23, 2014, 08:41:44 AM

Quote from: Foebar on April 23, 2014, 06:51:53 AM

without detailed calculations : I think we still have insufficient mining power to go with luck into finding blocks ourselves

@ 350 Th/s : Average generation time for a block : 23 hours, 47 minutes

2 What's wrong with 1 block each day on average? Seems fine to me.

1 block on average is fine by me, but if we have a bad luck string, it could be several days without a block.
that could hurt our divs at the moment.

We should first try to get around 1,5 to 2% of total hash rate before thinking to go solo.

With a lot of luck we could also generate above average and have nice divs, but with current calcs I think it could be tricky.
But hey, it's not up to me, it's up to all of us

VonSpecht

newbie

Activity: 45

Merit: 0

400TH/s will break today! Wink

Ashitank

hero member

Activity: 560

Merit: 500

Lol Shares being picked-up like hot cakes. Grin

altoidmintz

full member

Activity: 180

Merit: 100

After Economics: Learning is just the first step.

Quote from: Foebar on April 23, 2014, 06:51:53 AM

without detailed calculations : I think we still have insufficient mining power to go with luck into finding blocks ourselves

@ 350 Th/s : Average generation time for a block : 23 hours, 47 minutes

1 Are we at 350 or closer to 380 and still increasing?

2 What's wrong with 1 block each day on average? Seems fine to me.

spartan82

hero member

Activity: 658

Merit: 500

Very impressive jump here today, finally reached half the proposed initial hashrate. Good work boys keep em coming plz.

Foebar

full member

Activity: 156

Merit: 100

without detailed calculations : I think we still have insufficient mining power to go with luck into finding blocks ourselves

@ 350 Th/s : Average generation time for a block : 23 hours, 47 minutes

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: Foebar on April 23, 2014, 06:09:01 AM

now they need to upgrade the dashboard to further reflect progress

so set max value at 800TH or so

indeed it's best to look at the 1 hour and 24 hour meters, 15min is not representative enough

@ Cryptx, perhaps post an extract of a block found on ghash.io

F.E

We have solved the block #XXXXXX (25.1415 BTC) in 19 minutes at 15644.76 Th/s and done 4057801792 total work.
Your shares: XXXXXX/25000006577 (XX.XX%)
Payout: XX.XXXX BTC

just somewhat nice to know how much of mining power we bring to the pool itself

for detailed stats, Ghash supports 'read only' guest accounts.
example:

https://cex.io/signin?return=/trade/ghash

user: labcoin2
pass: 12345

cryptoconomist

full member

Activity: 226

Merit: 100

Quote from: Foebar on April 23, 2014, 06:09:01 AM

now they need to upgrade the dashboard to further reflect progress

so set max value at 800TH or so

indeed it's best to look at the 1 hour and 24 hour meters, 15min is not representative enough

@ Cryptx, perhaps post an extract of a block found on ghash.io

F.E

We have solved the block #XXXXXX (25.1415 BTC) in 19 minutes at 15644.76 Th/s and done 4057801792 total work.
Your shares: XXXXXX/25000006577 (XX.XX%)
Payout: XX.XXXX BTC

just somewhat nice to know how much of mining power we bring to the pool itself

Shouldn't we be Solo mining by now? can someone go into details of the pros and cons

Foebar

full member

Activity: 156

Merit: 100

now they need to upgrade the dashboard to further reflect progress

so set max value at 800TH or so

indeed it's best to look at the 1 hour and 24 hour meters, 15min is not representative enough

@ Cryptx, perhaps post an extract of a block found on ghash.io

F.E

We have solved the block #XXXXXX (25.1415 BTC) in 19 minutes at 15644.76 Th/s and done 4057801792 total work.
Your shares: XXXXXX/25000006577 (XX.XX%)
Payout: XX.XXXX BTC

just somewhat nice to know how much of mining power we bring to the pool itself

Ashitank

hero member

Activity: 560

Merit: 500

Quote from: Anotheranonlol on April 23, 2014, 05:56:05 AM

Quote from: Ashitank on April 23, 2014, 05:47:52 AM

369 Th & going up.

Focus on the 1hr interval to avoid false hope

I think best pointer is 24 hours hash rate which is a good indicator if calculating dividends

, but watching hashrate go-up is cool.

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: Ashitank on April 23, 2014, 05:47:52 AM

369 Th & going up.

Focus on the 1hr interval to avoid false hope

Ashitank

hero member

Activity: 560

Merit: 500

369 Th & going up.

cryptoconomist

full member

Activity: 226

Merit: 100

Quote from: Foebar on April 23, 2014, 04:20:37 AM

15 min : 328 Th
1 hour : 304 Th

up we go

~~346~~ 367
318

to the moon Grin

Topic: [HAVELOCK] PETAMINE - 1,150 TH/S HASH RATE (1GH/S per Unit) - page 155. (Read 565837 times)