[OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 # - page 152.

Luke-Jr

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Activity: 2576

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Quote from: JayCoin on March 26, 2012, 11:44:43 PM

Quote from: Red Emerald on March 26, 2012, 11:32:05 PM

Quote from: JayCoin on March 26, 2012, 11:20:32 PM

How do you pay for this if you have no fees? You don't include transactions in your blocks so you don't get any transactions fees. Even if you did, they wouldn't pay for the server you must need. What is your motivation? World Peace? Huh

Where did you read he doesn't include transactions? Also, there is still a 50BTC block subsidy.

Luke-jr does have lower variance by having people mine with him, but theres plenty of pools that are run for the benefit of Bitcoin over profit.

If you look at recent blocks found by Eligius http://blockchain.info/blocks/Eligius every block only contains the one generation transaction.

Those aren't found by Eligius, it's just blockchain.info screwing up. See http://eligius.st/~artefact2/blocks/ for our real blocks.

JayCoin

sr. member

Activity: 409

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Crypt'n Since 2011

Quote from: Red Emerald on March 26, 2012, 11:32:05 PM

Quote from: JayCoin on March 26, 2012, 11:20:32 PM

How do you pay for this if you have no fees? You don't include transactions in your blocks so you don't get any transactions fees. Even if you did, they wouldn't pay for the server you must need. What is your motivation? World Peace? Huh

Where did you read he doesn't include transactions? Also, there is still a 50BTC block subsidy.

Luke-jr does have lower variance by having people mine with him, but theres plenty of pools that are run for the benefit of Bitcoin over profit.

If you look at recent blocks found by Eligius http://blockchain.info/blocks/Eligius every block only contains the one generation transaction.

Red Emerald

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Quote from: JayCoin on March 26, 2012, 11:20:32 PM

How do you pay for this if you have no fees? You don't include transactions in your blocks so you don't get any transactions fees. Even if you did, they wouldn't pay for the server you must need. What is your motivation? World Peace? Huh

Where did you read he doesn't include transactions? Also, there is still a 50BTC block subsidy.

Luke-jr does have lower variance by having people mine with him, but theres plenty of pools that are run for the benefit of Bitcoin over profit.

JayCoin

sr. member

Activity: 409

Merit: 251

Crypt'n Since 2011

How do you pay for this if you have no fees? You don't include transactions in your blocks so you don't get any transactions fees. Even if you did, they wouldn't pay for the server you must need. What is your motivation? World Peace? Huh

Luke-Jr

legendary

Activity: 2576

Merit: 1186

FWIW, BitVPS.com is offering Eligius miners 20% off with coupon code 'ELIGIUS'

The00Dustin

hero member

Activity: 807

Merit: 500

Quote

priority = sum(input_value_in_base_units * input_age)/size_in_bytes

Transactions need to have a priority above 57,600,000 to avoid the enforced limit (as of client version 0.3.21).

That's exactly what I saw (and probably exactly where I saw it).

ETA:
(67935140 * 126) / 225 = 38,043,678.4
38,043,678.4 < 57,600,000, so I don't even know if the 120 generate confirmations counted in the formula or not.

Red Emerald

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Quote from: The00Dustin on March 22, 2012, 06:40:44 PM

Quote from: Luke-Jr on March 22, 2012, 06:32:59 PM

Odd that you were charged a fee like that; I wonder why.

I think Red Emerald is right, it probably hadn't even been 126 confirmations. Like I said, I assumed that the 120 required before they could be spent made them old enough. It's also possible that the minimum BTC amount to not require a fee is higher, but I think that depends on age, seems like I saw the formula about what causes a fee to be required once, just kinda forgot about it.

https://en.bitcoin.it/wiki/Transaction_fees

The00Dustin

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Quote from: Luke-Jr on March 22, 2012, 06:32:59 PM

Odd that you were charged a fee like that; I wonder why.

I think Red Emerald is right, it probably hadn't even been 126 confirmations. Like I said, I assumed that the 120 required before they could be spent made them old enough. It's also possible that the minimum BTC amount to not require a fee is higher, but I think that depends on age, seems like I saw the formula about what causes a fee to be required once, just kinda forgot about it.

Luke-Jr

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Quote from: The00Dustin on March 22, 2012, 06:08:24 PM

I just spent coins from a generate and was charged a fee. The generate was for .6793514 and since 120 confirmations were required before they could be spent, and since I was trying ot send exactly .6793514, I expected to be able to send the transaction for free. Instead, a fee of .0005 was required and I had to spend .6788514 instead to afford the fee. I know that ultimately fees will be necessary to support mining, but I believe right now fees are only required for transactions that fall outside of a certain scope. My expectation did involve some assumption, but was based on this (from FAQ):

Quote

Why is there a minimum payout?
This feature was added to help miners avoid transaction fees.

Just out of curiosity, was the minimum payout's intent to be able to spend without a fee (in which case maybe it is currently too low, whether it was when implemented or not) or just to minimize fees (100 .00678851 inputs would have presumably required a larger fee)?

The intent is to avoid 1000x .001 BTC inputs for a 1 BTC payment. Odd that you were charged a fee like that; I wonder why.

Red Emerald

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Activity: 742

Merit: 500

Quote from: The00Dustin on March 22, 2012, 06:08:24 PM

I just spent coins from a generate and was charged a fee. The generate was for .6793514 and since 120 confirmations were required before they could be spent, and since I was trying ot send exactly .6793514, I expected to be able to send the transaction for free. Instead, a fee of .0005 was required and I had to spend .6788514 instead to afford the fee. I know that ultimately fees will be necessary to support mining, but I believe right now fees are only required for transactions that fall outside of a certain scope. My expectation did involve some assumption, but was based on this (from FAQ):

Quote

Why is there a minimum payout?
This feature was added to help miners avoid transaction fees.

Just out of curiosity, was the minimum payout's intent to be able to spend without a fee (in which case maybe it is currently too low, whether it was when implemented or not) or just to minimize fees (100 .00678851 inputs would have presumably required a larger fee)?

IIRC once the coins are 120 generations in, they count as new coins. Since they are new coins, they don't get to be spent for free. I think you could have waited for the coins to mature more and saved yourself about 2 cents.

Quote from: https://en.bitcoin.it/wiki/Transaction_fees#Technical_info

priority = sum(input_value_in_base_units * input_age)/size_in_bytes

No clue what your size_in_bytes is or how to tell though.

The00Dustin

hero member

Activity: 807

Merit: 500

I just spent coins from a generate and was charged a fee. The generate was for .6793514 and since 120 confirmations were required before they could be spent, and since I was trying ot send exactly .6793514, I expected to be able to send the transaction for free. Instead, a fee of .0005 was required and I had to spend .6788514 instead to afford the fee. I know that ultimately fees will be necessary to support mining, but I believe right now fees are only required for transactions that fall outside of a certain scope. My expectation did involve some assumption, but was based on this (from FAQ):

Quote

Why is there a minimum payout?
This feature was added to help miners avoid transaction fees.

Just out of curiosity, was the minimum payout's intent to be able to spend without a fee (in which case maybe it is currently too low, whether it was when implemented or not) or just to minimize fees (100 .00678851 inputs would have presumably required a larger fee)?

The00Dustin

hero member

Activity: 807

Merit: 500

Quote from: asdf2121 on March 20, 2012, 09:57:24 AM

the pool now is work well?

I don't think I have had any trouble with the pool, why do you ask?

asdf2121

newbie

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the pool now is work well?

Luke-Jr

legendary

Activity: 2576

Merit: 1186

Quote from: The00Dustin on March 18, 2012, 10:51:35 AM

So, [sarcasm]*theoretical question*[/sarcasm], when some retard mines for over 24 hours with the username set as .x instead of the username being properly set as with a password of x, is there any chance said retard can get the rewards he should have earned added returned to his queue? Undecided

Not practical, sorry. The shares are processed in realtime, and there's no way for me to change the history without significantly rewriting code and taking the pool down for probably an extended duration to try to adapt the historical block record.

The00Dustin

hero member

Activity: 807

Merit: 500

So, [sarcasm]*theoretical question*[/sarcasm], when some retard mines for over 24 hours with the username set as .x instead of the username being properly set as with a password of x, is there any chance said retard can get the rewards he should have earned added returned to his queue? Undecided

Luke-Jr

legendary

Activity: 2576

Merit: 1186