Topic: Mining the new pool! - page 2. (Read 7724 times)

I'm still deciding on my pool, have been using BTC Guild right now, poked around on DeepBit a bit...  I'm all for new innovative ways to reward those that stick to a pool, maybe even something where you give a little bonus to those that stay for 'x' blocks vs. just within a single block...  I'll give this one a shot for a bit some time and see how it does.

thats really fair man!

Nice!  Good luck my friend, sounds like a nice setup, could you post more details on your setup later?

I'm taking a break for a day or so, got all my hardware to build my new rig dont go and find a block without me

when i'm back will be rockin 3GH

Will be great to have you back, i'm sure you will love the PPLNS system, from checking your stats you gained BTC


Welcome aboard good luck in finding a block and getting the extra bonus

Ima give this pool a shot since 0% fee sounds good. Wish I seen this pool few days ago when I first started to mine.

I'll definitely be mining on your pool again soon.  I'm not at home (on vacation till tomorrow) right now and until then I can't mine.  I'll be back tomorrow in your pool!  Good Luck as well you have a good pool going

we are using the PPLNS method for paying shares:

the formula is as follows:

N = 1/2 Difficulty
Your Reward = ((YourShares in last N shares) / (last N shares)) * BlockValue

so how does this affect you?

If you submit shares then leave (the normal course for pool jumpers) as the round progresses past the 1/2 difficulty mark you will start to get less of a share of the current round.

If you stick with the pool your shares will be worth more as the pool jumpers leave

so in short, stick around get paid more than pool jumpers

and not to mention we are 0% fee on all blocks, and still have the great 4BTC bonuses for finding a block, so what are you waiting for, come submit shares now to get yoru BTC

great to have you onboard

I'm trying this pool right now and referring some friends that could bring a lot of well-needed power to the pool.

thats actually something i didnt think of, having the users bet with the valid shares they have submitted is a great idea, its a good way of stopping people signing up lots of times just to bet.

the example of 10 blocks was just an example, i think we should use enough blocks so that everyone has a chance to bet, maybe even 200 blocks. also to stop cheating (since u could wait until the micro second that the final block is found and get the data direct from the bitcoin client and try to beat the update) we would stop bets X blocks before the end.

but pretty much no matter what your betting on your best opportunity is to wait until the last second to bet to give u a better idea as to the outcome, so this need more thinking, we need something where someone betting towards the start is not at a major disadvantage imho.

Hmmm... It's roughly one hour, right?


Totalizator works alittle bit differently. It works on the principle of who provides the best information about the future events is the winner.
For example, now we have: linkme, somebadger, dtmcnamara as the leaders. The majority will bet on those, individual stakes and number of losers does not matter, the sum matters, for example, 1BTC. And two bets with 0.2BTC that linkme, dtmcnamara, somebadger will be the leaders. (there could be many outcomes. You can bet on whoever). If the outcome "linkme, dtmcnamara, somebadger" gets realized, the sum 1.2BTC minus admin fee (say, 10%) will be distributed among those two who guessed correctly.

It means, each winner of the bet will get 1.2 * 0.8 / 2 = 0.48 BTC.

However, as I said before, the results can be easily manipulated. And my point is that probably betting on hashrates and such is not
quite ok. All of us have limited has generating capabilities, which can't be changed quickly.

I think, the important thing is to set the objective of the competition.

If the goal is to increase total hashrate, then the competition should be strictly for the top N players. And they have all the fun.

If the goal is to have something special and more fun for larger crowd, then totalizator idea (as described above) is very good. Bets could be done on anything, even on the number of total pool shares generated during last 10 blocks modulo 10 (which is pure lottery) or top leaders (which is less lottery, more brains required, but can be manipulated), etc, etc.

And have I understood right, that the bets are done in the shares submitted during the round and they can be reshuffled then?
Or will the game require bitcoins from outside?

Say, linkme bets 187000 shares and looses ;-)  Weird...

Probably, more thinking is needed.

thans ban news man, gl in getting the power restored

re the race been having a bit of a think, we could do it say every 10 blocks (not ones we solve just blocks in general)
for example from block 136220 to 136230.

here is my idea for the rules:

the top 10 people who submitted shares in the previous 10 blocks would be in the running
the person who submitted the most valid shares (from the previous group) would be the winner and and so on for 2nd and 3rd place
members bet on who ever they like to win
all bets are added to a pool
that pool is split 60,30,10 ? for 1st 2nd 3rd
and is then split between the people who chose the 1st 2nd 3rd ?
i guess that splitting only works if everyone bets the same amount, unless u have a better idea ?
to maintain transparency we would show all bets as they stand

any ideas, suggestions send em over this is by no means final in any way, just a bit of an idea i had.
the main drawback with this system is that it would have to be a fixed bet, and there could be cheating by simply making more accounts. That could be overcome by only allowing members with X shares bet ?

Ah... I am out of the game till (hopefully) later today (seems like switch faulted, nobody to bring it back). That is exactly what I feared.
If its not just power cycle, will have 0 MH/s till Monday 

I love the idea, now we need to work out a way where u can bet on the hash rates that isnt prone to cheating too much

That was a joke. I mean, observers can record their bets (who wins the "race", when the block will be found, etc, etc.)
Administrative fee goes to the pool/totalizator owner, for example.

Thus, the dull process of mining for coins can be turned into more fun. The costly process of buying new equipment from doomed investment   goes into buying a horse for racing category.

And betcoin name suits it perfectly well. (I am not sure about legal side though as I have no idea under whose jurisdiction you are...)

The idea is very raw. For example, its not easy to prevent some shadow agreements. Say, two leading horse owners can bet on the third and, surprise, give way to it, etc. But surely some kind of interesting and fair competitions can be designed.

organizing totalizator ? what do you mean ?


Welcome aboard, and if you refer others or find a block your up for doubling or tripling those 2 btc


Welcome and good to see another power miner in the pool, we all thank you



Any suggestions for features or anything you guys would like added to the site, fire away.
Our mission is to make a great pool for our members.

Im into it. Lets see how it works !

Leading the Hashrate at 2nd Place

Greetings, Frog

Thanks for explaining pool-hopping rules, SomeBadger! BTW.


I am usually looking at another figure on the page: Est. Time To Find Block   236 Hours 1 Minutes
at the moment. Used to be about 500 hours... It's a pity I cant add more power.

Probably, you can soon charge non-members 0.01 BTC for looking at pool.betcoin.co/stats.php and team thingie
and bring in more revenue by organizing totalizator ;-)

@linkme cant wait for that extra hashing power, looks like you lost your top spot on the hash leader boards your 2 new 5820's should give u another 900 MH or so, that will get you back on top heh

also we peaked @ 9gh earlier today, come on people lets get it really moving