New PPS bitcoin/litecoin pool at btcminerpool.com 1% bonus

aurel57

legendary

Activity: 1232

Merit: 1000

Quote from: trendax on April 23, 2015, 06:26:54 AM

Quote from: aurel57 on April 23, 2015, 04:30:12 AM

...
EDIT: I guess it all really does not matter for this pool as it looks to have already closed down?

I spotted the website down yesterday too, do you think they went PPSBust or simply turned off the 0.450THs

LoL I think it was more of people's expectation of making big bucks off of running a pool Tongue

after all how hard can that be Roll Eyes

trendax

full member

Activity: 124

Merit: 100

Quote from: aurel57 on April 23, 2015, 04:30:12 AM

...
EDIT: I guess it all really does not matter for this pool as it looks to have already closed down?

I spotted the website down yesterday too, do you think they went PPSBust or simply turned off the 0.450THs

aurel57

legendary

Activity: 1232

Merit: 1000

Quote from: trendax on April 22, 2015, 09:58:32 PM

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

This is actually a good idea, in fact does any PPS pool ever do proof of reserves?

Most pool operators here don't need to as they are well known. But I threw that out there more for a person like this OP that shows little history, Also due to the fact the OP had asked me if I was interested in helping him and/or be a partner with this pool. (which I have no desire in)

EDIT: I guess it all really does not matter for this pool as it looks to have already closed down?

eleuthria

legendary

Activity: 1750

Merit: 1007

Quote from: trendax on April 22, 2015, 09:58:32 PM

This is actually a good idea, in fact does any PPS pool ever do proof of reserves?

Nope.

trendax

full member

Activity: 124

Merit: 100

Quote from: kano on April 22, 2015, 08:36:19 PM

No.
Simple is PPLNS.
If you use Prop, it's easy to hop (at 43%) and make more BTC and everyone on the pool who doesn't hop loses BTC.
Go read up about it, don't guess, coz you're wrong.

Who's guessing anything, PROP=HOP everyone knows that. I just pointed out some benefits.

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

This is actually a good idea, in fact does any PPS pool ever do proof of reserves?

kano

legendary

Activity: 4592

Merit: 1851

Linux since 1997 RedHat 4

Quote from: trendax on April 22, 2015, 06:35:57 PM

Quote from: kano on April 22, 2015, 09:11:54 AM

Quote from: trendax on April 22, 2015, 07:53:26 AM

...
PROP methods on poolware have benefits, it's simply to understand and no operation risk.
The operator should of course find ways to be more effective with rewards when hashing increases.
...

No.

You don't see the benefit of a simple system that has little risk?
Don't get me wrong a standard implementation of a PROP is no good but it must be safer for operator and miners compared to a pool going bankrupt before it even starts.

No.
Simple is PPLNS.

If you use Prop, it's easy to hop (at 43%) and make more BTC and everyone on the pool who doesn't hop loses BTC.
Go read up about it, don't guess, coz you're wrong.

trendax

full member

Activity: 124

Merit: 100

Quote from: kano on April 22, 2015, 09:11:54 AM

Quote from: trendax on April 22, 2015, 07:53:26 AM

...
PROP methods on poolware have benefits, it's simply to understand and no operation risk.
The operator should of course find ways to be more effective with rewards when hashing increases.
...

No.

You don't see the benefit of a simple system that has little risk?
Don't get me wrong a standard implementation of a PROP is no good but it must be safer for operator and miners compared to a pool going bankrupt before it even starts.

kano

legendary

Activity: 4592

Merit: 1851

Linux since 1997 RedHat 4

Quote from: trendax on April 22, 2015, 07:53:26 AM

...
PROP methods on poolware have benefits, it's simply to understand and no operation risk.
The operator should of course find ways to be more effective with rewards when hashing increases.
...

No.

trendax

full member

Activity: 124

Merit: 100

Quote from: jonnybravo0311 on April 21, 2015, 05:13:40 PM

Quote from: aurel57 on April 21, 2015, 04:53:56 PM

Quote from: jonnybravo0311 on April 21, 2015, 03:41:47 PM

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Quote from: jonnybravo0311 on April 21, 2015, 01:57:05 PM

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

Any operator who wants to run a PPS pool. Honestly, I don't understand why any operator would even consider a PPS pool - the risks involved are all taken on by him. I know I would not start such a pool, even if I did have an extra couple thousand BTC lying around the house.

That is because you understand it. It also seems with all these new pools that are sprouting up that they have no idea and have not researched it enough to know any better.

And that's the truth. Half the new pool announcements are "Come mine with us we use PROP!!!" Arghhh. Pool operators can't even figure out how to run their own pools or won't even bother to do a single bit of research on it, yet they expect miners to trust them with BTC?

PROP methods on poolware have benefits, it's simply to understand and no operation risk.
The operator should of course find ways to be more effective with rewards when hashing increases.
As for PPS methods, definitely not for the small timer / novice.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: aurel57 on April 21, 2015, 04:53:56 PM

Quote from: jonnybravo0311 on April 21, 2015, 03:41:47 PM

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Quote from: jonnybravo0311 on April 21, 2015, 01:57:05 PM

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

Any operator who wants to run a PPS pool. Honestly, I don't understand why any operator would even consider a PPS pool - the risks involved are all taken on by him. I know I would not start such a pool, even if I did have an extra couple thousand BTC lying around the house.

That is because you understand it. It also seems with all these new pools that are sprouting up that they have no idea and have not researched it enough to know any better.

And that's the truth. Half the new pool announcements are "Come mine with us we use PROP!!!" Arghhh. Pool operators can't even figure out how to run their own pools or won't even bother to do a single bit of research on it, yet they expect miners to trust them with BTC?

aurel57

legendary

Activity: 1232

Merit: 1000

Quote from: jonnybravo0311 on April 21, 2015, 03:41:47 PM

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Quote from: jonnybravo0311 on April 21, 2015, 01:57:05 PM

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

Any operator who wants to run a PPS pool. Honestly, I don't understand why any operator would even consider a PPS pool - the risks involved are all taken on by him. I know I would not start such a pool, even if I did have an extra couple thousand BTC lying around the house.

That is because you understand it. It also seems with all these new pools that are sprouting up that they have no idea and have not researched it enough to know any better.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: aurel57 on April 21, 2015, 02:20:08 PM

Quote from: jonnybravo0311 on April 21, 2015, 01:57:05 PM

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

Any operator who wants to run a PPS pool. Honestly, I don't understand why any operator would even consider a PPS pool - the risks involved are all taken on by him. I know I would not start such a pool, even if I did have an extra couple thousand BTC lying around the house.

aurel57

legendary

Activity: 1232

Merit: 1000

Quote from: jonnybravo0311 on April 21, 2015, 01:57:05 PM

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

Yes and how many people have enough coin min 25+ BTC just with normal luck to make payouts till that first block is found plus overhead expenses? Maybe any new pool operators should think about escrowing coins to prove they can pay to be taken serious?

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

So OP claims PPS with a 1% bonus like BAN... Website states it is a 3% fee. Brand new user. Tell me OP... Do you happen to have 2500BTC in reserve to handle those guaranteed unlucky times?

aurel57

legendary

Activity: 1232

Merit: 1000

Copied from kano's post as it fits here as well...

Quote from: kano on April 20, 2015, 11:04:17 PM

Someone posted Meni's pool analysis document again recently in the p2pool thread.
https://bitcoil.co.il/pool_analysis.pdf

Although not all of it is gospel, there is an interesting calculation in the appendix that people mining here should take note of
(of course directly related to what I've said before)

If a PPS pool charges a 5% fee, and at any point in time, (only) has a reserve of 250BTC, then the chance of eventual bankruptcy is ... ~81.9% without paying BTC into the pool by the operator.

To have the chance of eventual bankruptcy to be 0.1% on a PPS pool charging a 5% fee, requires a reserve of ... ~1727 BTC

Important to note of course those numbers are if the pool is charging a 5% fee.
... not a 0% fee ... or even a -1% (a 1% bonus) as is the case here.

(N.B. I updated the numbers above for 25BTC since the original doc is back when the block reward was 50BTC)

I wonder if ~~s0br~~ *btcminerpool has any idea at all about any of this.

*added by me

aurel57

legendary

Activity: 1232

Merit: 1000

Quote from: -ck on April 13, 2015, 05:00:34 PM

New user with only one post posts a mining pool? A pool needs to be run by a reputable person who knows what they're doing and are already well known and respected in the community. Your post doesn't even remotely make sense with contradictory links, different payout schemes, a mangled post copying bits and pieces from other pools' announcements... No one in their right mind should trust their hashes to you.

It seems some has been copied from BAN? Roll Eyes

-ck

legendary

Activity: 4088

Merit: 1631

Ruu \o/

New user with only one post posts a mining pool? A pool needs to be run by a reputable person who knows what they're doing and are already well known and respected in the community. Your post doesn't even remotely make sense with contradictory links, different payout schemes, a mangled post copying bits and pieces from other pools' announcements... No one in their right mind should trust their hashes to you.

btcminerpool

newbie

Activity: 1

Merit: 0

hello this is a new pps mining pool for bitcoin and litecoin mining at www.btcminerpool.com we are trying to grow are pool users as it's just been finished now, we welcome every one to min bitcoins or litecoins

>mining is 3% for pool fees

>you can set a auto payout of 0001

Pool information

(This pool will stay running until bitcoin or litecoin dies)

with the bitcoin pool it is Pay Per Share and a pool bonus of 1%

on the litcoin pool it is pay per share as well and a pool bonus of 1%

pool hash rate is 0.450 Th/s

the pool Efficienc: 98.87%

Current Active Workers: 2 workers currently

Minimum payout is only 0.001 BTC Transaction fees

Register here: www.btcminerpool.com
to start mining on are pool

Stratum Servers Bitcoin

If you want to mine on a Windows Operating System, then you'll need to create a batch file to start your miner.
Simply open notepad and then copy and paste the following:

CGMiner
cgminer -o stratum+tcp://stratum.btcminerpool.com:3336 -u Weblogin.WorkerName -p WorkerPassword
BFGMiner
bfgminer -o stratum+tcp://stratum.btcminerpool.com:3336 -u Weblogin.WorkerName -p WorkerPassword
MinerD
minerd -a -t 6 -s 4 -o stratum+tcp://stratum.btcminerpool.com:3336 -u Weblogin.WorkerName -p WorkerPassword

Stratum Servers litecoin

cgminer --scrypt -o stratum+tcp://stratum.btcminerpool.com:3334 -u Weblogin.WorkerName -p WorkerPassword
BFGMiner
bfgminer --scrypt -o stratum+tcp://stratum.btcminerpool.com:3334 -u Weblogin.WorkerName -p WorkerPassword

Security Features:

1. You will be unable to change your wallet address after registration... including anyone else who may obtain your login and password.
2. Auto-payout is enabled BY DEFAULT with minimum payout set at 0.0001 BTC. Payouts are processed seconds after the block is confirmed. We're a pool, not a bank, there is no benefit for us to hold on to anyone's BTC earnings. Quite frankly, I find it rather irresponsible to do so, or to delay any payments by any amount of time. It's technically incomprehensible. This is one of the primary motivations for launching this pool, not only for us to use internally, but friends, family, and business associates... and now the geeks on this forum.

Topic: New PPS bitcoin/litecoin pool at btcminerpool.com 1% bonus (Read 1734 times)