Topic: NovaBlock, The Most Profitable Mining Pool - page 4. (Read 2161 times)

Hi Freemine-001010,

I will have the technical team look into it. I apologize for the delays as we are preparing to head to Germany for the WDMS Conference. Any lost hashrate or rewards we will make up to you if we can verify the issue was on our end, so don't worry.

I'll take note of your suggestion and tell the technical team so this does not occur again.


Hi wndsnb,

We expect that our fees will go back to 3.5% after the initial 2000 PH has been reached. Everyone that joins the pool prior to the 2000 PH mark will keep the 2.5% fee.

At the current moment we are not thinking of adding a PPLNS payout option but I will discuss with the team to see if it would be valuable to add.


Thank you for your suggestions, we will look into adding the marker on the graph as soon as possible for further clarity to our clients


Hi all,

All of the hashrate shown on the pool is accurate. While I cannot comment on how lucky we were during this period to find a large amount of blocks, I can confirm that we do not have any hidden hashrate shown. I do know that during the initial stages of release, we have always kept steady around 700 PH and that when we were initially put onto btc.com list (2 - 3 weeks after our start date) we found more blocks than expected and that showed our hashrate to be around 1500 - 1700 PH. This number has since been coming down to accurately represent our hashrate.

We need to provide accurate stats so our investors understand how well we are doing and how much hashrate we have accurately. The goal of 2000 PH is one set by our investor and so by hiding 1000 PH it provides us with no benefit and makes us look like we are further from our actual goal. In addition to this, it also makes us look bad to our investors and clients that are on the pool. I can say that the majority of the hashrate is not ours.

For clarity sake, we are adding another 100 PH to the pool around the end of October,.

Thank you all for your concerns and if you have any questions please don't hesitate to ask. We'll try to answer all enquiries in a timely manner.

Please note that there may be a small delay in responses due to us attending the Germany conference.

Vincent

so again  , my dashboard is stuck on 9-29 showing no new stats anyone have this also ?

Thanks
FREEMINE

Yeah that is the most likely explanation.  Which would mean  they are very well funded. So they should pay out consistently. Time will tell.

https://btc.com/stats/pool/NovaBlock

Shows their blocks.

Looks like so far in October:

1st - 1 block
2nd - 0 blocks
3rd - 0 blocks
4th - 2 blocks
5th - 1 block

Looking at the period where diff was 11.891T, 9/13 to 9/26, the site shows that they found 37 blocks. 700PH for this period should average 1.18 blocks per day, or about 15.4 blocks for the 13 day period. If I did my calculation correct, it would be about 1 in 500,000 chance of hitting 37 blocks in that period when you'd expect 15.4 on average. So it definitely looks like something is wrong. The hashrate would need to be closer to 1700PH to get this number.

I looked through a bunch of those blocks and the block rewards all go to the same address, 3Bmb9Jig8A5kHdDSxvDZ6eryj3AXd3swuJ. So It appears the blocks were mined by the same pool.

Maybe they have ~1000PH of their own that they are not showing in their stats.

Tired 💤 I will look at math on sat.

maybe i did the math wrong? check https://novablock.com/space/block

it reports in PH/s so the formula I did was simply (reward(block+transaction) divided by PH/s) then divided that by 1000 - to convert PH/s to TH/s

I have been up for neigh on 24 hours so maybe I made a mistake?

example: on 8/14 - they found 3 blocks so total reward was 38.39569278 BTC - I divided that by 696.23 so: ((38.39569278/696.23)/1000).

Either blocks made are wrong
Hash hashing is wrong

Or they had the luckiest streak ever

They should do and average of 1.1 blocks for each ofthose 50 days

Maybe 1.2 blocks for each of those 50 days.

They averaged 3.

So say 60 vs 150

I don’t think I have ever seen luck that good.

if so, then they are being reported wrong, I simply exported the history page. 5 days were no blocks.

I doubt very much they have luck that good. I am tired and it is late but 3 blocks a day for 50 days when they should not make 2 blocks a day means they are over 150% luck for 150 blocks .  So I suspect the stats are wrong.

I think they must not be reporting the hashrate correctly. If they are and they had the luck posted I would think the odds are far more then 10000 to 1 to have luck that good.

Their average from 8/14 to 10/01 is just over 3 blocks per day. (I am limiting to 10/1 as that is the last date showing on history page) also worth noting is that the following dates: 8/26, 9/4, 9/15, 9/16 and 9/30 are not on the history page - I would assume that means the pool found no blocks for these days - Please verify.

Anyways, my view on this is as follows:

Note: For all my calculations I am going to apply the daily average hashrate to the 5 days where no blocks were found.

The pool has found 151 blocks in the 49 day long period of 8/14 to 10/1, the total hashrate for this period is approximately 109,287.73 PH/s or 109,287,730 TH/s and the pool has collected 1,925.732394 BTC.

This would work out to an average of BTC to TH/s ratio of of .00005611 and this is the payment I would expect (minus pool fee) if this were a PPLNS pool.

Unfortunately, the price to pay with being part of a PPS pool is that you may end up giving up the majority of the earned reward. But it can work both ways - use the 5 days where no blocks were found. Miners are still paid for those days. So, if a pool has a run of bad luck, the miners will be safe from losses. And if the pool has a good luck streak, the pool wins and most likely ups the reward amount to compensate.

If a pool is lucky then the miners are losing out, and if the luck is terrible, the pool loses - though the pool takes the risk of going broke if the terrible luck persists which is entirely possible - having occurred with numerous pools in the past - and I believe this is why Kano always asks a PPS pool how much reserves they have.

Because of this, I firmly believe that PPLNS is the best payment method. But because my reserves are low (I really gotta stop buying new equipment) and I need to make a monthly amount, I do use some PPS pools. If my reserves were sufficient to weather the ramp up or if Kanos pool was not 140-150 day to ramp up, I would have all my miners there.

And that is why I am always willing to try different PPS pools to see which is most beneficial.

If for any reason, my calculations are wrong or am I completely off base with my above assumptions, please do correct me.

so seems my dashboard is stuck on 9-29 , and wont switch over to oct ,  anyone else have this

activity, i would like to see the profitability graphs showing some details , but its stuck on  9-29 

NOVABLOCK prob needs to look into the css or code on the site and make sure its correct in keeping

up with the current time ect .


Thanks

FREEMINE

I clear understand all "systems" PPS, PPS+, FPPS e.t.c
It was sarcasm

And I understand the fact that pools (PPS, PPS+, FPPS e.t.c) around the world each day keep about 100BTC for themself from really rewards + commissions for blocks which ordinfry miners finds

Just in this case stop tallking about commission 2.5% or any %, it calls some differnt way - you simplly pay as much as ready to pay for miners (shows on your calculator), and you kepp as much as you want for yourself

Only in case of fair PPLNS system you can serious tallking about any % for pool from general rewards of blocks to reach

Mine auto-refreshes in what seems like 30 second increments.


I second this.

You  don't understand  pps+ pool payout.  Here goes :

PPS+  takes finding block risk away from the miner and puts it on the pool.

So if novapool had  insanely good luck  and found 5 blocks a day  you get paid based on your hash  not the blocks found = good for novapool

on the other hand if novapool has really bad terrible luck  and finds a block every 3 days  you get paid on your hash not the blocks found. = good for you the miner

The larger a pps+ is the more risk it assumes each day if the pool has 700ph  and is paying at 0.00001920  they need to pay around 13.44 btc a day   as 700000th x 0.00001920 = 13.44 btc

So this pool risks a loss of 13.44 btc daily if it does not hit  a block on any day.

Hello

Can not find infornation about blocks reach on your pool
Saw explorer here https://btc.com/stats/pool/NovaBlock

So on average pool finds 2 bloks per day with 700Ph
Even without addition rewards for commission it's 12.5 x 2 =25BTC
25BTC / 700 000Th = 0.00003571BTC/Th/day
But calculator on your pool show 0.00001987BTC/Th/day

What 2.5% for your commition from blocks rewards you tallking about?

0.00003571BTC/Th/day & 0.00001987BTC/Th/day  it's about 45%

the block explorer is not updating very fast , hasn't registered the 2 blocks found on 10/4      597,797    597,798

also could you introduce a auto refresh feature on the workers dashboard page, as i have to refresh it manually to see the current hash rate of my workers

and a request on the pool stats could you put a marker on the graph / timeline to denote when blocks are found

Thanks

FREEMINE

What is your roadmap for fees after 2000PH? Also, would you consider adding a PPLNS payout at a lower fee?

Referrals

At NovaBlock, we strive to make everyone as profitable as possible and spread the wealth! This is why we are now excited to introduce the new NovaBlock Referral Program (NRP).

To spread the name of NovaBlock to everyone we are offering a reward for anyone that introduces new clients to our pool. Please let me know if you're interested in joining this program.

As we roll this out initially, we will focus mainly on referrals with greater than 5 PH. This is to ensure that we do not receive too much volume where we can't keep up/keep track of payments and referrals. We will slowly decrease the minimum size referral as we get more comfortable and streamline this system.

PM here if you are interested and we can send you a contract.


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Merged Mining

We have heard your feedback, our goal is to make mining as simple and profitable as possible.

We will have an exciting announcement regarding merged mining coming soon in the next week or two. Look forward to it

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Keep on letting us know what we can do better. If it can make everyone more profitable, we will implement changes right away. We have a team dedicated to updating our pool and make changes/upgrades as need be.

No the fee is reduced to 2.5% until the pool reaches 2000PH. If reviewing the pool through Vincent the fee is reduced to 0% for 1 month while conducting the review.