We have our first registration!
Only 3 Slots left!
Topic: [LTC Private Pool] LiteRing Pre-Registration (Read 546 times)
Hello everyone!
I started on gathering data and setting up my VPS for a small private pool.
Because the difficulty on LTC mining is pretty modest now, it makes sense that people should try solo mining as they can be extremely lucky.
But most of the poeple lack very fast hardware to make solo mining appealing (myself included) so this is what I am offering:
- space for 5 people
- every person should have 1 or more miners that should not exceed (in total) 250-350 kH/s
- fully proportional shares
- 1% fee to keep the server going
- users have pooled luck, e.g. your luck adds up with the other 5 people
- every time someone finds a block , your average payout will be roughly 10 LTC
- at current difficulty and at 300 kH/s average for 5 people an the expected rate per block is 6.5 hours (http://www.litecoinpool.org/calc?hashrate=1500&difficulty=8.14419487) - so basically same normal expectancy every single individual would have, but with 5x the luck
Short FAQ:
Why the 250-350 kH/s limitation?
I own a 6870 that does approx. 300 kH/s - and I would like to have people with similar speeds so we can have similar payouts. That is a problem with the big pools that offer proportional payout, your proportion is tiny
.
Why the 5 people limitation?
I want to have some sort of nice prize when someone discovers a block. With 5 people with roughly the same proportions you would get 10 LTC.
1% Fee? Why?
Well I might not be a linux expert, but I did spend quite a little time on this to make it happen. Plus I am hosting the server, don't i deserve anything?
Why not solo mine?
Well, at roughly 300 kH/s (the target group for this pool), if you have bad luck, you could mine for a week and not get anything, or you could mine for 1 hour and get 10 blocks (seriously doubtful). This pool just adds up all the luck of these 5 people and gives back a very nice bounty every time someone from the 5 discovers a block.
Will there be more slots open in the future for other people?
I cannot give a definite answer, but I figure with the difficulty increasing, I would consider accepting more people with 250-350 kH/s speeds.
When will I get paid?
Being a private and small pool, I can only guarantee payment after 120 confirmations (when I get the 50 LTC myself), otherwise I'm running myself into the ground.
If you want to pre-register just post below,
ONLY 4 SLOTS AVAILABLE!
I started on gathering data and setting up my VPS for a small private pool.
Because the difficulty on LTC mining is pretty modest now, it makes sense that people should try solo mining as they can be extremely lucky.
But most of the poeple lack very fast hardware to make solo mining appealing (myself included) so this is what I am offering:
- space for 5 people
- every person should have 1 or more miners that should not exceed (in total) 250-350 kH/s
- fully proportional shares
- 1% fee to keep the server going
- users have pooled luck, e.g. your luck adds up with the other 5 people
- every time someone finds a block , your average payout will be roughly 10 LTC
- at current difficulty and at 300 kH/s average for 5 people an the expected rate per block is 6.5 hours (http://www.litecoinpool.org/calc?hashrate=1500&difficulty=8.14419487) - so basically same normal expectancy every single individual would have, but with 5x the luck
Short FAQ:
Why the 250-350 kH/s limitation?
I own a 6870 that does approx. 300 kH/s - and I would like to have people with similar speeds so we can have similar payouts. That is a problem with the big pools that offer proportional payout, your proportion is tiny
.Why the 5 people limitation?
I want to have some sort of nice prize when someone discovers a block. With 5 people with roughly the same proportions you would get 10 LTC.
1% Fee? Why?
Well I might not be a linux expert, but I did spend quite a little time on this to make it happen. Plus I am hosting the server, don't i deserve anything?
Why not solo mine?
Well, at roughly 300 kH/s (the target group for this pool), if you have bad luck, you could mine for a week and not get anything, or you could mine for 1 hour and get 10 blocks (seriously doubtful). This pool just adds up all the luck of these 5 people and gives back a very nice bounty every time someone from the 5 discovers a block.
Will there be more slots open in the future for other people?
I cannot give a definite answer, but I figure with the difficulty increasing, I would consider accepting more people with 250-350 kH/s speeds.
When will I get paid?
Being a private and small pool, I can only guarantee payment after 120 confirmations (when I get the 50 LTC myself), otherwise I'm running myself into the ground.
If you want to pre-register just post below,
ONLY 4 SLOTS AVAILABLE!
Jump to: