P2P Pool | Bitcointalksearch.org

yslyung

legendary

Activity: 1500

Merit: 1002

Mine Mine Mine

Quote from: tomsanders on January 25, 2015, 06:23:07 AM

Ahh i see, so basically its just a big mining pool but you can create your own node to improve latency etc?

Yes & you're in charge of your own pool. No need to worry about stolen coins, pool operator, delays in payout, etc...

On good runs p2pool payout are yummy. Like i said earlier just gotta be really patient.

Fun learning process too. You can dropby my node & have a look. Any questions juat post on the regular p2pool thread.

Many helpful guys are there.

tomsanders

member

Activity: 103

Merit: 10

Ahh i see, so basically its just a big mining pool but you can create your own node to improve latency etc?

yslyung

legendary

Activity: 1500

Merit: 1002

Mine Mine Mine

You get 0.5% more and rest is shared with entire network.

The more shares you have the more the reward.

tomsanders

member

Activity: 103

Merit: 10

Hey All,

I think i may know the answer to this question already but im going to ask it to clear things up.

Lets say I set my own P2P node up and connect 200T/H's to this pool, when we find a block. Who gets the entire block? All of my pool only or the entire p2p network?

May sound like a silly question but i had to ask it

Thanks

Prelude

legendary

Activity: 1596

Merit: 1000

+1 for using a p2pool node close to you. Best way to mine.

yslyung

legendary

Activity: 1500

Merit: 1002

Mine Mine Mine

also, please have lots of patience with p2pool but it does pays off

IYFTech

hero member

Activity: 686

Merit: 500

WANTED: Active dev to fix & re-write p2pool in C

Quote from: tomsanders on January 12, 2015, 07:14:17 PM

Thanks for that info...

What pool would you recommend to someone that is based in the UK... currently using btc china.... its ok but I feel getting one closer to home would give better results?

thanks

Check this link to find your nearest node with the lowest latency:

http://nodes.p2pool.co/

Or you can try my node & see how you get on - it's a zero fee node, I'm also in the UK - details in my sig Wink

tomsanders

member

Activity: 103

Merit: 10

Thanks for that info...

What pool would you recommend to someone that is based in the UK... currently using btc china.... its ok but I feel getting one closer to home would give better results?

thanks

jonnybravo0311

legendary

Activity: 1344

Merit: 1023

Mine at Jonny's Pool

Quote from: tomsanders on January 12, 2015, 04:56:32 PM

so really unless you have anything like 30-40 T/H's + Its best to stick as part of a team... or expect to wait a rather long time!!!

30-40 TH/s? Try 300-400 to expect to find a block within a decent timeframe by solo mining. At current difficulty, 300TH/s would expect to find a block a week give or take - so you'd likely find 2 blocks before difficulty rises again. On average, a miner with 30TH/s on a pool would expect around 0.3431BTC a day, currently.

IYFTech

hero member

Activity: 686

Merit: 500

WANTED: Active dev to fix & re-write p2pool in C

Quote from: tomsanders on January 12, 2015, 04:56:32 PM

so really unless you have anything like 30-40 T/H's + Its best to stick as part of a team... or expect to wait a rather long time!!!

With p2pool you are working as a team, all nodes are connected. Have a read of the p2pool thread - there's all the info you need there

tomsanders

member

Activity: 103

Merit: 10

so really unless you have anything like 30-40 T/H's + Its best to stick as part of a team... or expect to wait a rather long time!!!

IYFTech

hero member

Activity: 686

Merit: 500

WANTED: Active dev to fix & re-write p2pool in C

Quote from: tomsanders on January 12, 2015, 04:26:15 PM

Thank you for your detailed response, forget me for being blonde but how much would a share be worth.

Thanks

That depends on the difficulty of the accepted share.

tomsanders

member

Activity: 103

Merit: 10

Thank you for your detailed response, forget me for being blonde but how much would a share be worth.

Thanks

jonnybravo0311

legendary

Activity: 1344

Merit: 1023

Mine at Jonny's Pool

Quote from: tomsanders on January 12, 2015, 02:46:42 PM

In your experience what's the sort of time for finding a block at that speed? Are we talking days/weeks/months.......?

Thanks

Are you asking about how long you would expect 7TH/s to find a block solo mining? If yes, that's easy to calculate:

43971662056 * 2^32 / 7000000000000 / 86400 = number of days expected to find a block. So, 312.26 days at current difficulty.

If you're asking about p2pool, that's a whole different question. You get paid for every valid share you have on the chain when p2pool finds a valid block.

Using the same formula, you can calculate expected time to find a share...

10616061.28 * 2^32 / 7000000000000 / 86400 = 0.075 days = 1.81 hours. So, you would expect to find about 13 shares a day. Shares are weighted depending on network difficulty when found, and those weights are used to determine your payout when the block is found. Realize that the share difficulty retargets constantly depending on perceived network hash rate, as does the expected time to block.

tomsanders

member

Activity: 103

Merit: 10

In your experience what's the sort of time for finding a block at that speed? Are we talking days/weeks/months.......?

Thanks

PatMan

hero member

Activity: 924

Merit: 1000

Watch out for the "Neg-Rep-Dogie-Police".....

Quote from: tomsanders on January 12, 2015, 10:06:45 AM

Thanks for that.. I have currently got 7Th spare for solo mining? Would that be enough?

Thanks

That's plenty for p2pool.

tomsanders

member

Activity: 103

Merit: 10

Thanks for that.. I have currently got 7Th spare for solo mining? Would that be enough?

Thanks

Meuh6879

legendary

Activity: 1512

Merit: 1011

cons is : when you are little (less than 200GH/s) ... solo-mining and P2Pool is the same issu = 0 reward = help network only.

IYFTech

hero member

Activity: 686

Merit: 500

WANTED: Active dev to fix & re-write p2pool in C

Quote from: tomsanders on January 11, 2015, 07:18:22 AM

Hello All,

I have been reading about the P2P Pools and haven't really got any distinctive answers. I understand that once you set the pool up you can advertise for other people to connect and start hashing together.

What is the benefit of doing this appose to connecting to a pre-existing pool like BTC Guild or Slush...?

Thanks in advance!

This would be better asked in the p2pool thread: https://bitcointalksearch.org/topic/1500-th-p2pool-decentralized-dos-resistant-hop-proof-pool-18313

However, main advantages are:

Decentralizing & securing the network.
No late/missing payments (freshly minted coins).
You control the node.
Open source.
No fees.
Hop/attack proof.
It's bloody brilliant.

Edit: Don't confuse p2pool with Bitmain p2p pool - the bitmain version is NOT p2pool, it is a bad copy & should be avoided.

tomsanders

member

Activity: 103

Merit: 10

Hello All,

I have been reading about the P2P Pools and haven't really got any distinctive answers. I understand that once you set the pool up you can advertise for other people to connect and start hashing together.

What is the benefit of doing this appose to connecting to a pre-existing pool like BTC Guild or Slush...?

Thanks in advance!

Topic: P2P Pool (Read 1273 times)