Topic: New Pool with high Pay outs (Read 3621 times)

My point is that it doesn't even pay off to pad the stats now.

If you joined after 28.6 there is no top 3 bonus for you. Those guys pumping 3-10 ghash will get no extra reward because they joined 2 days ago.
 
There is only 1 miner in the entire pool capable of being in top 3 who joined before that arbitrary date.

oh and is anyone else having a ton of connection problems with the pool over the past 24?

The current hash rate or rather I should say last nights hash rate was dominated by new miners throwing huge rigs at the pool with one thing in mind, getting into the top three and padding that lead a bit, then leaving. I know I sound like a broken record but this is exactly what I said would happen long before it actually happened. Now those miners just have to keep an eye on the pool and if they see their lead falling just crank up the GH again to pull away. In the meantime they are elsewhere earning a daily payout for some other pool. Much as you yourself did it seems

Not harking on this so much for the pool owner but for anyone else who thinks this type of a pool is a good idea hopefully they may find this thread and see the shortcomings of the design, it promotes pool hopping and drives away smaller miners. Given the current difficulty and fuzzy future of BTC pricing I don't see mining for any pool doing less than 300G/h much of an option anymore.

Nobody from 28.6 or before has enough hashrate to be in top 3 except 6990er.
Almost all of the current rate comes from new miners.

So there is in fact only 1 bonus possible in the entire pool. 0 if masterminer gains enough shares because then nobody in the top 3 are eligible.

hi @ MZZM:

50BTC will be sahred to all minners.
1.95 BTC will be paid to the finder. (from my own wallet)
13,9,5 Bonus will be paid to the top shares but only to miners submitted at least 1 share before 28,6,2011 Update

Dude, I`m totally don`t understand you.

So finder will get 50btc, and other miners nothing?

What is bonus 13, 9, 5? tops? Top of what, hash-rate, shares?

Thank you for your congratulations. 

I know it will be hard to start a new pool. Maybe all the work was for nothing, but i will keep on working on it.

So I decided to payout the full 50BTC + 1.95 BTC extra Bonus for the finder.

For all minners from the beginning will get a extra Bunus. 13,9,5 as i wrote the first two days.

Hope this will help to get more minners to the pool.

Also problem with phoenix miner, miner is idle and it goes to restart, and it happens very often.

So top miner is who got highest hash-rate, or higher amount of shares?

No I don't think your going to get your hash rate up any time soon. You will see burst but because of that initial call to payout so high on the 1, 2, 3 place winners what your seeing is exactly what I said would happen. Miners, especially the big ones are coming in and running their share count up and into those first, second and third spots then leaving. There is no incentive for them to stay when they can pool hop and come back if they get knocked out of the paying spots.



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Note the few active miners out of the ones in the top positions. They come, they push their share count up, they leave. Now at this point anyone pushing less than 400Gh is better served in other pools with massive hash rates (300+) as they can earn a little a day vs. mining here and hoping it's not going to take you weeks, if not months. Look at bitp.it pool that is going on 6 days now and how much their hash rate has dropped, it's to the point that unless they get lucky they will take weeks on this block round, miners are not willing to stick around for that with the value of BTC in such a questionable state.

Congrats, and you thought you use to not get any sleep...

Hello guys,

sorry about the late answer. But: My son was born tonight: 

Stales should be ok now. (blkmond stopped working)

The payout is now proportional now. + 1,95BTC extra for the finder.
All minners that was minning before the change of the payout (read Update news at the home site) will get the old extra bonus 13,9,5 BTC.

i will think about to set the fee to 0% and pay the first 1.95BTC Bonus from my own wallet.
Do you think this will help to get more minners ( also the smaller ones ?`)

The hash rate is relatively stable over 10gh now.
A block could be found in a week if a few more users committed small farms.

There is some incentive even for casuals: 1.95BTC finders fee.

Just testing huh by pushing 4x the next highest miner

Downtime has been pretty high, to be expected on new pool. I agree though at current rates and current total hash rate this pool will be forever. Heck pool I usually get paid out pretty quickly is now on day 3 and miners are dropping off like flies meaning it will just take even longer.

After first round so this round is as was.

You are discounting something:

At this difficulty it could be easily 2-3 million shares before any block is found by BTCpool24, without phenomenal luck.
There wont be even a million anytime soon, so if someone is looking for a quick cashout that's just a fool's gamble.

I'm just testing the waters with a few ghash, seeing how many stales/invalids, downtime, stability
Not going to mine 24/7 or move any deepbit/slush rigs there.

They have switched to proportional payout (+bonus for block finder), so it doesn't really matter any more.

Well seems I am being proved correct. Here come the mega rigs and all the people mining from the first days are about to have their spots taken and pushed down the BTC ladder, including who I assume is the pool owner. 6990er came in first of the week and has been on the pool off and on yet is a day away from kicking out mcmeidi (pool owner) from the top spot and in turn will allow Jack and Paul to likely kick Dilithium out of #3 even though that user has been active pretty much non-stop.



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My point is that pools like Slush and Deepbit have no incentive to steal the block reward.
They will earn a good amount of cash in the long run with their fees (2-3%). They generate many blocks every hour.

Since on this pool it might be weeks or months before anything is found & most people will only be mining for the extra rewards, there is a lucrative opportunity for the owner to just run with the single block after discovering people quit mining when the block is found.

Because it's highly likely it will be the only block the pool will ever find.

@ Jack

Hi 8GH/s would be fine

Of course i could take the 50BTC and shut the server down. But the other pools could do this also.
I don´t want to eearn much money with the pool. I just do this for fun only. I ony want to be a part of the BTC group. Maybe later i will go online with other site relating to Bitcoins. (Trading,Shop etc.) . And with this sites i want to earn money.
Im not shure, but i also dont trust other pools 100%. So that was the reason for me to start minning with about 1.5GH/s. And creating this pool, was the 2nd step to do something with BTC.

And yes the site was created during the weekend. But i will work on it hard the next weeks.
So i will keep the pool running longer as for 1 block.

Greetings from Germany

I have thought about pumping about 8ghash/s in your pool after CDF gets about 40-50%,

but there is a relatively high risk you will just steal the entire 50BTC reward to yourself after your own miner's proportion (mcmeidi) gets lower & lower (and you probably know that people would just leave after the first block rewards anyways)

The 50 BTC will probably be much more than your pool will earn in operating profits in it's entire lifetime after that.
I don't see anyone sticking around after the first block is found.

This gives the small pool owner a very high incentive to steal the entire block proceeds & disappear.
You also have no reputation to lose, joined the forum 48 hours ago & the site seems like an overnight fly-by operation so it's a win-win for you.

Your "reward" system just needs tweaked some if your wanting to go down that road. Do a 3, 2, 1 which still leaves the bulk to be divided proportionally or something along those lines. Difficulty is to high and BTC to valuable to give away over half the pot to 3 miners.

I've got nothing against different pool types, gives people options and if they don't like it there is always another pool. Just felt your setup was giving away the farm on the backs of your long term miners.

[edit]
I just wanted to give you an example of why I think the pool payout is flawed and I know I have gone over this already and you plan to adjust it.

Anyway if you look right now at the leader board "mcmeidi" is in the lead by far with 38465 shares and 32.580776 BTC. Teuflor with 5155 shares and 4.364945 BTC has come and gone a few times. As mcmeidi is that far ahead he has no reason to stick around and continue mining and in fact appears to have moved on. All he needs to do is check in daily or so and see where he stands and if anyone is getting close he can crank up his 1G/h rig and get that buffer again. In the meantime he is elsewhere earning BTC for another pool and not helping your pool at all. The race for second and third is a bit tighter however those miners have also come and gone with "Teuflor" seeming to show up just often enough to maintain that second spot. What's worse is the same person using multiple accounts could lock up First, Second and Third doing the same thing but instead of leaving they just switch accounts.

Just my opinion... your hardware and sweat so I need to shutup

let's get that first block then, shall we

Update : 06/28/2011

Since missing positive feedbacks on the payout system, i will change the pool to proportional payout .
But only 48BTC.
1.95BTC are for the miner who finds the block.
 The last 0.05BTC are the fee for the pool.


Last but not least:

For all miners, allready mining here, i will keep the old payout for the first block.
 If one ore more from the active miners are at Top 3 i will payout the 27BTC from my own wallet.

I think this is a fair offer to you.

Bad uptime as well, growing pains and not a direct complaint.

My only complaint still stands that this benefits only the top 3, all others would do better elsewhere and even out of the top three there is nothing stopping somebody that can push G/h's from coming in late and pushing everyone out of the winners circle. There are some guys doing 20-40 G/h themselves, they could come in and establish a base score then leave only to come back off and on in order to stay in the top three. Seems that is already the case with some miners dropping off then as another miner gets close to their total hash count they start mining again but at a lower rate, just enough to stay in the top 3 (ignoring the leader assuming he is the pool owner).

i'll let my machine run a whole afternoon on your site to give it a go anyway looks like you're in need of some miners so we'll see....

won't make the top 3 tho but it'll be a competitive number 4 spot

13BTC to some super rig that comes in near the end of a round and pushes everyone who has been there from the beginning off the winners list not to mention by taking 23 to pay the winners those not in the top three will earn less than they would using another pool.

No he will get 13BTC extra . Look at http://www.btcpool24.com/stats.php

I know i will still have to do a lot of work on the site. But the important thing does work. The Layout etc. will be much better in the next few days.

Thank you !

whatever i give him a try

Why would more than 4-5 people ever mine on a system like that?  If you are not in the top 3 you are getting screwed compared to what you could be making at a different pool.

In other words if your not doing 1G/h or more your share will be crap.

doesn't look very professional...passing on this one for now but will keep an eye on this thread.

nice idea. but you mean that the 1st miner will get only 13btc even if his/her shares indicate more?

Why does everything about this seem dodgy?

 Visit : http://www.btcpool24.com