BitPenny is back!
Since the model is entirely new, please join the new forum thread at https://bitcointalksearch.org/topic/bitpennycom-sustainable-mining-new-open-source-client-36371
Topic: Instant-Payout Mining - BitPenny.com (Read 35146 times)
All remaining balances greater than or equal to .01 BTC have been disbursed automatically.
7-10 Gh isn't that close to 60-70.
No, but it is a surge in activity -- nothing says that all ~65Gh must go to the same pool. Most Bitpenny miners probably went to Deepbit PPS. (That's where I took my slower miners.) 
Those 70 Gh should have already joined other pools after bitpenny shutdown, but where are they now ?
Bitcoinpool's has rate has nearly doubled in the last 3-4 days. Could be some of them. Those 70 Gh should have already joined other pools after bitpenny shutdown, but where are they now ?
Bitcoinpool's has rate has nearly doubled in the last 3-4 days. Could be some of them.
And attacking a pool with unknown hashrate is strange idea anyway. Unless they tracked it's blocks.
Afaik bitpenny was around 70Ghash, some people mentioned that on forum (but I don't know original source, maybe bitpenny's IRC channel?).OneFixt didn't wanted to tell me his hashrate when i asked sometimes.
And attacking a pool with unknown hashrate is strange idea anyway. Unless they tracked it's blocks.
Afaik bitpenny was around 70Ghash, some people mentioned that on forum (but I don't know original source, maybe bitpenny's IRC channel?).
Hard to believe that there is one of us trying to hurt bitcoin economy; sabotage can be (effectively) performed only with large mining rig. The motivation can be pretty clear - by killing pools, you'll have lower difficulty in the future...
Killing a pool will only make people move to another or switch to solo mining. Even if all mining pools will be stopped, people with GPUs will just switch to solo.And attacking a pool with unknown hashrate is strange idea anyway. Unless they tracked it's blocks.
Hard to believe that there is one of us trying to hurt bitcoin economy; sabotage can be (effectively) performed only with large mining rig. The motivation can be pretty clear - by killing pools, you'll have lower difficulty in the future...
The worst part of such an attack is that it is purely malicious.
The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
Not only the share, but also 10% fee.The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
The attacker had to have high hashrate, so he had also chance to mine solo or somewhere else instead of attacking.
The worst part of such an attack is that it is purely malicious.
The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
Not only the share, but also 10% fee.The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
The attacker loses virtually nothing compared to an honest pool user, so it's purely malicious when compared with honest pool use. An attacker loses 1/2^32 shares per block on average, so he still receives 99.9999999767% of what an honest pool user would get.
The worst part of such an attack is that it is purely malicious.
The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
Not only the share, but also 10% fee. The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
OneFixt, I'm pretty unhappy that you are in red numbers, because your pool was very fair competitor. Did you do some analysis why the pool performed under 10% of teoretic income? It can be very long period of bad luck, but I feel that you were target of sabotage (of course it's just my feeling, I don't have hard data). There are people trying to hurt pools; almost every pool was DDoSed and I saw many tries of hacking. This experience was the reason why I rejected PPS model on my pool, so I'm curious if I was right...
The DDoS attempts did not have much of an effect, but the block-withholding attacks did. I collected enough statistics to be fairly certain that there was an attack, rather than simply bad luck. You were correct in your reasoning.
Thanks again to all the people donating
The worst part of such an attack is that it is purely malicious.
The person performing the attack doesn't gain any extra income, and in fact loses a share each time it found a fully valid block.
OneFixt, I'm pretty unhappy that you are in red numbers, because your pool was very fair competitor. Did you do some analysis why the pool performed under 10% of teoretic income? It can be very long period of bad luck, but I feel that you were target of sabotage (of course it's just my feeling, I don't have hard data). There are people trying to hurt pools; almost every pool was DDoSed and I saw many tries of hacking. This experience was the reason why I rejected PPS model on my pool, so I'm curious if I was right...
The DDoS attempts did not have much of an effect, but the block-withholding attacks did. I collected enough statistics to be fairly certain that there was an attack, rather than simply bad luck. You were correct in your reasoning.
Thanks again to all the people donating
sad news 
well, i hadn't tried bitpenny but i will donate a symbolic amount, just to keep the business rolling
well, i hadn't tried bitpenny but i will donate a symbolic amount, just to keep the business rolling
OneFixt, I'm pretty unhappy that you are in red numbers, because your pool was very fair competitor. Did you do some analysis why the pool performed under 10% of teoretic income? It can be very long period of bad luck, but I feel that you were target of sabotage (of course it's just my feeling, I don't have hard data). There are people trying to hurt pools; almost every pool was DDoSed and I saw many tries of hacking. This experience was the reason why I rejected PPS model on my pool, so I'm curious if I was right...
Thank you so much, cdhowie and Miner-TE, for your kind words and donations.
I am very glad to hear that you enjoyed BitPenny, and very sad to have to take it down.
I hope to be able to bring BitPenny back in a different form at some point in the future, and am very encouraged knowing that I have had such kind-hearted users
I am very glad to hear that you enjoyed BitPenny, and very sad to have to take it down.
I hope to be able to bring BitPenny back in a different form at some point in the future, and am very encouraged knowing that I have had such kind-hearted users
BitPenny will be shut down indefinitely at 11:59PM 4/2/2011 EST due to continued and unsustainable losses.
Really sorry to hear that man. I can't in good conscience keep everything I've earned from your pool, so I'm sending half of it back. (Which isn't much to start with since I mainly ran CPU miners in your pool, but hopefully it will amount for something.)Hopefully others will do the same. Best of luck to you.
I'm sorry to hear this, I thought you had a great site.
Guys, I suggest we send donations to OneFixT and soften the losses that occurred.
Guys, I suggest we send donations to OneFixT and soften the losses that occurred.
Jump to: