How do pools handle minting fee changes

TierNolan

legendary

Activity: 1232

Merit: 1094

Quote from: DannyHamilton on January 13, 2014, 10:34:07 AM

Or perhaps once every 4 years?

Even better

.

Quote

Whatever the answer is today would be useless, since the pools could change the rules before the next adjustment (nearly 3 years from now).

Right. Pool rule changes can result in people losing money and/or their shares dropping in value.

DannyHamilton

legendary

Activity: 3472

Merit: 4794

Quote from: TierNolan on January 13, 2014, 10:25:02 AM

I realize that it only happens once every 2 years.

Or perhaps once every 4 years?

Quote from: TierNolan on January 13, 2014, 10:25:02 AM

With a pay per last N shares system, there is a discontinuity when the minting fee changes.

If you submit a share for a 25 BTC block from just before the change, you are paid out by a 12.5BTC block.

To keep it fair, shares after the discontinuity should be worth half as much as before. The has the effect of doubling N.

This means that a pool where N is 3 blocks would need to change its N to 6 blocks after the change.

Do pools do stuff like that, or is the effect mostly ignored? It only covers a window of a few hours/days, so is probably not that big a deal.

Whatever the answer is today would be useless, since the pools could change the rules before the next adjustment (nearly 3 years from now).

TierNolan

legendary

Activity: 1232

Merit: 1094

I realize that it only happens once every 2 years.

With a pay per last N shares system, there is a discontinuity when the minting fee changes.

If you submit a share for a 25 BTC block from just before the change, you are paid out by a 12.5BTC block.

To keep it fair, shares after the discontinuity should be worth half as much as before. The has the effect of doubling N.

This means that a pool where N is 3 blocks would need to change its N to 6 blocks after the change.

Do pools do stuff like that, or is the effect mostly ignored? It only covers a window of a few hours/days, so is probably not that big a deal.

Topic: How do pools handle minting fee changes (Read 819 times)