[OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 # - page 9.

baddw

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Quote from: Slesh on January 22, 2014, 03:04:39 PM

Round = block? right?

Not quite, my understanding is that a "round" is blocks found by Eligius pool. So if we find 2 blocks in a row, the round will be short. If we go several blocks without finding one, it will be a longer round.

E.g. at the moment, last block found by Eligius was #281910. Current block on the network is #281917. If we find block #281917 (actually, we just did), this "round" will be blocks #281911 - #281917.

In a basic PPS system, each share is worth a given BTC. Since we expect 1,789,546,951 shares = 25 BTC, each share = 1.397*10^-8 BTC. Every share that you put in is worth that much. However, you can't always get paid on those, because the pool doesn't always find the blocks. So your older shares get put on the "shelf" to get paid out when the pool is lucky. I am not sure where the cutoff is to be put on the shelf vs. being included in the current round. (I understand PPLNS better than I do CPPSRB, but I know that the Eligius system is pretty much the best / most consistent.)

I am also a newb, this is just my understanding, and I welcome any corrections.

Slesh

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Quote from: freebit13 on January 22, 2014, 03:11:57 PM

Quote from: Slesh on January 22, 2014, 03:04:39 PM

Hi to all
may I ask one newbie question about reward system?

A this time a run about 600 GH/s and I expect that I will see almost the same reward per one block.
But as I see every block I get different rewards.
If the round is short - about 15-30 minutes I got around 0.003 BTC and If the round takes longer time i get more. For example now goes one round 52 minutes and I see 0.0053 BTC.
Hashrate is almost the same and i got almost twice. How is this possible?
Round = block? right?
Don't beat me for this question I switch to eligius a few days ago.

thanks for any explanation or link with it.

My understanding is that PPS (pay per share) means exactly that; you get paid per share accepted so if the round is longer before the block is found then you will submit more shares therefore get more reward, so you should get a reasonably consistent amount per day, not per block. I would think the length of time for the block to be found would have an effect on the luck which with shorter rounds would allow more of the RB (recent backpay) to be activated so there would possibly also be a slight increase there due to that.

Disclaimer: do not take this information as the complete truth... just take a look at my newbie status Lips sealed

should be. I mined for about half a year on Slush pool and now switched for few week to Eligius... so I used to get still the same percentage of the block (not PPS).

freebit13

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I got Satoshi's avatar!

Quote from: Slesh on January 22, 2014, 03:04:39 PM

Hi to all
may I ask one newbie question about reward system?

A this time a run about 600 GH/s and I expect that I will see almost the same reward per one block.
But as I see every block I get different rewards.
If the round is short - about 15-30 minutes I got around 0.003 BTC and If the round takes longer time i get more. For example now goes one round 52 minutes and I see 0.0053 BTC.
Hashrate is almost the same and i got almost twice. How is this possible?
Round = block? right?
Don't beat me for this question I switch to eligius a few days ago.

thanks for any explanation or link with it.

My understanding is that PPS (pay per share) means exactly that; you get paid per share accepted so if the round is longer before the block is found then you will submit more shares therefore get more reward, so you should get a reasonably consistent amount per day, not per block. I would think the length of time for the block to be found would have an effect on the luck which with shorter rounds would allow more of the RB (recent backpay) to be activated so there would possibly also be a slight increase there due to that.

Disclaimer: do not take this information as the complete truth... just take a look at my newbie status Lips sealed

Slesh

member

Activity: 103

Merit: 10

Hi to all
may I ask one newbie question about reward system?

A this time a run about 600 GH/s and I expect that I will see almost the same reward per one block.
But as I see every block I get different rewards.
If the round is short - about 15-30 minutes I got around 0.003 BTC and If the round takes longer time i get more. For example now goes one round 52 minutes and I see 0.0053 BTC.
Hashrate is almost the same and i got almost twice. How is this possible?
Round = block? right?
Don't beat me for this question I switch to eligius a few days ago.

thanks for any explanation or link with it.

HellDiverUK

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Activity: 1246

Merit: 501

Quote from: baddw on January 22, 2014, 01:58:07 PM

Also, how can NMC be 105% payout? Is it just because a lot of miners have not set up NMC, so the pool has some extra to distribute? Are NMC payouts generated in the same way as BTC payouts (i.e., included in the mining reward) or are they held by the pool and then paid out? What is the minimum payout for NMC?

That, and Eligius was merged mining NMC for a period of time before paying out any at all, so has a large quantity in reserve. NMC are manually paid out on some schedule, I'm not sure what it is.

baddw

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Some questions just to make sure I'm understanding Eligius correctly:

On my stats page, there is a "Shares Rewarded" column. This is currently at around 95% (was around 89% earlier today). This means that 5% of my total shares have been "shelved", i.e. could be paid out during the lucky times?

What would happen if the pool goes on a crazy lucky streak, enabling *all* shelved shares to be paid out? What happens on the next block(s), does it essentially collapse to strict PPS when the shelved shares are at 0? Is there any way to know how old the oldest shelved shares are, and how many BTC would be "owed" to them if this were to happen? Has it ever happened?

Also, how can NMC be 105% payout? Is it just because a lot of miners have not set up NMC, so the pool has some extra to distribute? Are NMC payouts generated in the same way as BTC payouts (i.e., included in the mining reward) or are they held by the pool and then paid out? What is the minimum payout for NMC?

Thanks for any info!

CoolGecko

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Quote from: baddw on January 22, 2014, 12:00:32 PM

Quote from: robix on January 22, 2014, 11:57:56 AM

There's nothing you can see besides the NMC going into your wallet from time to time.

And if you don't feel like syncing your NMC wallet constantly, you can check your address in the NMC block explorer:

http://explorer.dot-bit.org/

Thanks baddw. That's interesting, I didn't know about the block explorer. I did find a transaction under my NMC address, so I guess it's working. I'll be on the lookout for more transactions.

azdarknet

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Quote from: HellDiverUK on January 22, 2014, 12:28:48 PM

Quote from: OleOle on January 22, 2014, 11:28:34 AM

Amen to that. I cannot believe I blew almost 11 BTC on those piece of shit Blue Fury usb miners.

Oh well... it's just money. *sigh*

Cheesy

I sold 10BTC for £40, and I thought I was doing well.

I agree about the BlueFuzzies, what a pile of crap. At least I sold mine for a few quid on Fleabay.

Man I remember talking about bitcoin in 2010 and thinking naw its not going to be anything.....don't have any stories about letting coins go for small amounts of money but hind sight is always 20/20.

HellDiverUK

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Quote from: OleOle on January 22, 2014, 11:28:34 AM

Amen to that. I cannot believe I blew almost 11 BTC on those piece of shit Blue Fury usb miners.

Oh well... it's just money. *sigh*

Cheesy

I sold 10BTC for £40, and I thought I was doing well.

I agree about the BlueFuzzies, what a pile of crap. At least I sold mine for a few quid on Fleabay.

robix

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Activity: 360

Merit: 250

Quote from: CoolGecko on January 22, 2014, 12:09:00 PM

Quote from: robix on January 22, 2014, 11:57:56 AM

Quote from: CoolGecko on January 22, 2014, 11:54:44 AM

Hi everyone. I'm new to bitcoin mining and have a question about Eligius. As I understand, in order to merge-mine namecoins, I simply need to add my namecoin address to the options page. Before submitting the changes I need to "sign" the message generated by Eligius. I have done all of this using bitcoin-qt to generate the signature and the signature was accepted by Eligius. I have read that it takes only an hour for the changes to take place but now it's 24 hours later and don't see any indication that I am now merge-mining namecoins. I expected to see an indication on the web page with my user statistics (http://eligius.st/~wizkid057/newstats/userstats.php/) but didn't see any.

I tried going to a user statistics page with my namecoin address (http://eligius.st/~wizkid057/newstats/userstats.php/), but got the message ""Error: Username not found in database." How can I know that I am mining namecoins?

There's nothing you can see besides the NMC going into your wallet from time to time.

Thanks robix, I thought that might be the case. To get some experience, I'm using an antminer U1 while waiting for a larger pre-ordered machine. I'll have to set the threshold as low as possible, so I can find out whether it's working in a reasonable amount of time.

Your welcome. If your NMC address is set correctly, that is it shows up on your My Eligius page, it should work.

CoolGecko

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Quote from: robix on January 22, 2014, 11:57:56 AM

Quote from: CoolGecko on January 22, 2014, 11:54:44 AM

Hi everyone. I'm new to bitcoin mining and have a question about Eligius. As I understand, in order to merge-mine namecoins, I simply need to add my namecoin address to the options page. Before submitting the changes I need to "sign" the message generated by Eligius. I have done all of this using bitcoin-qt to generate the signature and the signature was accepted by Eligius. I have read that it takes only an hour for the changes to take place but now it's 24 hours later and don't see any indication that I am now merge-mining namecoins. I expected to see an indication on the web page with my user statistics (http://eligius.st/~wizkid057/newstats/userstats.php/) but didn't see any.

I tried going to a user statistics page with my namecoin address (http://eligius.st/~wizkid057/newstats/userstats.php/), but got the message ""Error: Username not found in database." How can I know that I am mining namecoins?

There's nothing you can see besides the NMC going into your wallet from time to time.

Thanks robix, I thought that might be the case. To get some experience, I'm using an antminer U1 while waiting for a larger pre-ordered machine. I'll have to set the threshold as low as possible, so I can find out whether it's working in a reasonable amount of time.

baddw

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Activity: 700

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Quote from: robix on January 22, 2014, 11:57:56 AM

There's nothing you can see besides the NMC going into your wallet from time to time.

And if you don't feel like syncing your NMC wallet constantly, you can check your address in the NMC block explorer:

http://explorer.dot-bit.org/

robix

sr. member

Activity: 360

Merit: 250

Quote from: CoolGecko on January 22, 2014, 11:54:44 AM

Hi everyone. I'm new to bitcoin mining and have a question about Eligius. As I understand, in order to merge-mine namecoins, I simply need to add my namecoin address to the options page. Before submitting the changes I need to "sign" the message generated by Eligius. I have done all of this using bitcoin-qt to generate the signature and the signature was accepted by Eligius. I have read that it takes only an hour for the changes to take place but now it's 24 hours later and don't see any indication that I am now merge-mining namecoins. I expected to see an indication on the web page with my user statistics (http://eligius.st/~wizkid057/newstats/userstats.php/) but didn't see any.

I tried going to a user statistics page with my namecoin address (http://eligius.st/~wizkid057/newstats/userstats.php/), but got the message ""Error: Username not found in database." How can I know that I am mining namecoins?

There's nothing you can see besides the NMC going into your wallet from time to time.

CoolGecko

full member

Activity: 214

Merit: 100

Hi everyone. I'm new to bitcoin mining and have a question about Eligius. As I understand, in order to merge-mine namecoins, I simply need to add my namecoin address to the options page. Before submitting the changes I need to "sign" the message generated by Eligius. I have done all of this using bitcoin-qt to generate the signature and the signature was accepted by Eligius. I have read that it takes only an hour for the changes to take place but now it's 24 hours later and don't see any indication that I am now merge-mining namecoins. I expected to see an indication on the web page with my user statistics (http://eligius.st/~wizkid057/newstats/userstats.php/) but didn't see any.

I tried going to a user statistics page with my namecoin address (http://eligius.st/~wizkid057/newstats/userstats.php/), but got the message ""Error: Username not found in database." How can I know that I am mining namecoins?

OleOle

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Are you like these guys?

Quote from: ronin4bits on January 22, 2014, 11:23:13 AM

Quote from: lightfoot on January 22, 2014, 11:11:04 AM

Quote from: ronin4bits on January 22, 2014, 11:06:13 AM

Welcome to bitcoin, 2014... ugh

Think of it this way: More people to confirm transactions. Which is always a good thing. But yeah the optimal solution would be if every to be delivered miner failed in a spectacular fashion so I was the only one in the world with an ASIC. :-)

Or something like that.

It's all good for the larger perspective. I'm not hating on anyone. Just hard to read sometimes...

The ~~joys~~ pain of being an early adopter. Just wish I didn't spend so many of those early coins. Undecided

"Just wish I didn't spend so many of those early coins."

Amen to that. I cannot believe I blew almost 11 BTC on those piece of shit Blue Fury usb miners.

Oh well... it's just money. *sigh*

Cheesy

ronin4bits

newbie

Activity: 59

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Quote from: lightfoot on January 22, 2014, 11:11:04 AM

Quote from: ronin4bits on January 22, 2014, 11:06:13 AM

Welcome to bitcoin, 2014... ugh

Think of it this way: More people to confirm transactions. Which is always a good thing. But yeah the optimal solution would be if every to be delivered miner failed in a spectacular fashion so I was the only one in the world with an ASIC. :-)

Or something like that.

It's all good for the larger perspective. I'm not hating on anyone. Just hard to read sometimes...

The ~~joys~~ pain of being an early adopter. Just wish I didn't spend so many of those early coins. Undecided

lightfoot

legendary

Activity: 3164

Merit: 2258

I fix broken miners. And make holes in teeth :-)

Quote from: ronin4bits on January 22, 2014, 11:06:13 AM

Welcome to bitcoin, 2014... ugh

Think of it this way: More people to confirm transactions. Which is always a good thing. But yeah the optimal solution would be if every to be delivered miner failed in a spectacular fashion so I was the only one in the world with an ASIC. :-)

Or something like that.

ronin4bits

newbie

Activity: 59

Merit: 0

Quote from: baddw on January 22, 2014, 10:56:18 AM

I started mining a few days ago. My hash rate is around 230GH/s.

Wow. The asics really made it easy for everyone, didn't it... I remember sweating over my gpus in the dark, struggling with driver versions and testing every card on pools that might dissappear with coin at any moment... all to blister along at 1GHs watching the electricity meter spin off my house.

Welcome to bitcoin, 2014... ugh

baddw

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Quote from: gorgatron on January 22, 2014, 09:35:56 AM

I've got a general question for the non-troll members of this particular pool, but if I should look elsewhere, just point me in the right direction, and I'll leave you be. I've been at other pools with merged mining, but by the time I decided to participate, the option was gone. Just briefly, as I don't want anyone spending time explaining from the beginning, but I'm curious what the real advantage is to also mining NMC. I'm familiar with the basics, and know there are exchanges that allow me to convert it to other alt-coin, incl. BTC. I have ~270 GH/s currently. Is merged mining worth it, as in will I actually see real benefit from participating? It has been several months since I looked into it, so I'm no longer up-to-speed. I've read in the past that it doesn't affect BTC mining, so that isn't a concern. I'm simply wondering that at my hashrate, if might actually benefit. So far, I only mine BTC, and have been doing so for roughly 15 months. If I can improve the work output of my collage of mining gear, I'd be interested to give it a boost. Most of you seem quite knowledgeable, and are not pricks, so I figured I ask.

It will be a small incremental boost to what you earn with your BTC mining. But it's free; you're already doing the work when you mine BTC, so there's no reason not to set up an NMC address and earn that small extra increment.

I started mining a few days ago. My hash rate is around 230GH/s. I have almost a full NMC (to be fair, this included wizkid's bonus, so I'm not sure what I would have normally earned). At current exchange rates, this is worth 0.006BTC or roughly $5. This may not be a whole lot, but if I saw $5 laying in the street, I would surely pick it up.

lightfoot

legendary

Activity: 3164

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I fix broken miners. And make holes in teeth :-)

Quote from: azdarknet on January 22, 2014, 10:32:22 AM

Thanks for the quick response! So basically if I understand this each block will be harder and will take more time to solve on slower devices, this ups the probability of the block being rejected or found by someone else first?

Hopefully I will be moving into the 100Gh/s + realm soon, just trying to take all this info in, its incredibly hard to make heads or tails on the feasibility of small time miners...actually the case of so much info its hard to get the real real so thanks for the insight all!

And worth more shares of course. As long as the time is not anywhere near the 10 minutes to find a block (at which point your work in progress goes down drain) it should be fine. As in many things, life is a balance; the more time your hashing engines spend hashing and not reporting things is more money.

Even on a diff 32 system overall (my 50gh unit) the two block erupters keep up with minimal rejects.

C

Topic: [OLD] Eligius: ASIC, no registration, no fee CPPSRB BTC + 105% PPS NMC, 877 # - page 9. (Read 458480 times)